Sensex tanks 720 pts from day's high, ends 125 pts down; Nifty PSB drops 3%

On the weekly basis, the benchmark indices gained, thus taking their winning run to the fourth straight week

SI Reporter New Delhi

Analysts further said that the sharp decline in market capitalisation in China in general and technology stocks had dragged EMs’ YTD performance into negative territory, while developed markets’ performance was fairly strong.

3:34 PM

CLOSING BELL :: Sensex slips 125 pts, holds 59K

3:26 PM

Gold prices rebound but set for weekly loss as dollar holds ground

Gold prices rebounded on Friday after sliding to an over one-month low in the previous session, though a firm dollar set the metal on course for a weekly decline as investors awaited next week's U.S. Federal Reserve policy meeting. Spot gold rose 0.5% to $1,762.55 per ounce by 0716 GMT, while U.S. gold futures GCv1 gained 0.4% to $1,762.80. The precious metal has declined 1.6% this week. READ MORE

3:12 PM

Global markets :: European shares set for weekly gains as travel stocks soar

European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes.

The pan-European STOXX 600 index rose 0.5%, reversing losses earlier this week on worries about slowing global growth and tighter regulation of Chinese firms.

France’s CAC 40 and Spain’s IBEX outperformed regional peers with a 1.0% and 1.2% gain, respectively.

Source: Reuters

2:59 PM

Vaccination in fast lane :: India administers 1 cr jabs till 1.30 PM

2:53 PM

Indian defense supplier Data Patterns nears $100-mn IPO filing: Report

The Chennai-based company, backed by former Blackstone Inc. senior fund manager Mathew Cyriac, plans to lodge the listing documents with the Indian securities regulator as soon as next week, the people said. The firm intends to list in Mumbai this year, said one of the people, who asked not to be identified as the information is private. READ MORE

2:41 PM

Sensex Heatmap at this hour

2:32 PM

ALERT :: Profit-booking deepens! Sensex gives up 59, 000

2:22 PM

Surya Roshni soars 11%, hits new high on strong growth outlook

Shares of Surya Roshni edged higher by 11 per cent to Rs 731.20, also their new high on the BSE, in intra-day trade on Friday on the back of heavy volumes and amid a strong growth outlook. In the past seven trading days, the stock has zoomed 43 per cent, as compared to a 1.7 per cent rise in the S&P BSE Sensex. READ MORE

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2:15 PM

ALERT :: eClerx Services approves share buyback worth Rs 303 crore

>> The buy back price is of Rs 2,850 per share and the size is of upto 3.05% stake

2:00 PM

Collection recovery in securitisation yet to reach March 2021 levels

The performance of 143 rated securitisation deals showed the recovery has improved sentiments and supported the loan performance in June-July 2021. Overdue loans in softer delinquency buckets started performing with the gradual lifting of Covid-19 pandemic-related restrictions and this trend was prominent in secured asset classes. READ MORE

2:00 PM

Nifty Realty stocks tank in afternoon trade

1:50 PM

China's oil consumption seen peaking around 2026: Sinopec exec

Sinopec's oil peak forecast echoes a prediction by consultancy Rystad Energy in April that cited rapid adoption of electric vehicles as the main cause for global oil demand to peak over the next five years. READ MORE

1:41 PM

Focus now on faster NPA resolution to ensure NARCL's success: Analysts

Finance Minister Nirmala Sitharaman has announced setting up of a National Asset Reconstruction Company Ltd (NACRL), or a ‘Bad Bank’, with an intent to resolve bad loans within a period of five years. While the move is a 'structurally positive development' as the focus remains on faster resolution of stressed assets, analysts believe the move is a little “late in the cycle.” READ MORE

IBC, NPAs, insolvency, bankruptcy, companies

1:28 PM

CESC registers new high post 1:10 stock split, surges 10%

Shares of CESC rallied 10 per cent to Rs 96.75 on the BSE in intra-day trade on Friday after the 1:10 stock split came into effect. The company's board had fixed 17 September, 2021, as the record date for the stock split in the ratio of 1:10, i.e. a equity share with the face value of Rs 10 to be sub-divided into 10 equity shares with a face value of Re 1 each. The stock of electric utilities company surpassed its previous high of Rs 92.61 (adjusted to stock split) touched on 11 January, 2018. READ MORE