Sensex rises for 3rd day, up 29 points; Nifty Auto, Realty gain 3% each

The benchmark indices managed to eke out gains, amid buying in index heavyweight RIL, bank and auto stocks

3:40 PM

CLOSING BELL :: Nifty ends above 17,800-level, up 1.90 points

3:36 PM

CLOSING BELL :: Sensex holds 60,000-mark; ends 29 points higher

3:24 PM

Market breadth marginally favours sellers

3:16 PM

Icra revises up India's fiscal 2022 GDP growth forecast to 9%

A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement.

 

It can be noted that after the 7.3 per cent contraction in 2020-21, there were expectations of a higher growth number in 2021-22. READ MORE

3:08 PM

Oil shares lead charge as crude hits new 3-year highs

World shares rose on Monday, led by sharp gains in energy shares as crude oil prices soared to three-year highs of almost $80 a barrel while European stocks firmed after Germany's election results ruled out chances of a purely left-wing coalition.Increasing focus is on energy markets where oil futures have climbed around $9 a barrel over September. Brent crude traded on Monday at $79.07 a barrel, while U.S. crude rose 97 cents to $74.95.

 

Stock markets benefited too from an ostensible easing in Sino-U.S. tensions and Chinese authorities' decision to pump more cash into financial markets to potentially offset the fallout from embattled real estate firm China Evergrande Group.  German shares jumped 1.1 per cent, while a pan-European equity index was up half a percent. Gains were led by the energy sector, which rose almost 2 per cent while Wall Street too was tipped for a firmer session, with S&P 500 futures up 0.3 per cent.

 

Source: Reuters

3:07 PM

PBoC says:

- China's economic recovery not solid, unbalanced

- To push real lending rates to further fall

- Vows to ensure legal rights of Chinese home buyers

- Reiterates prudent monetary policy will be flexible

(Source: Agencies)

2:41 PM

Tata Motors DVR surges 28%, Tata Motors 16% thus far in September

Shares of Tata Motors DVR hit an over three-year high of Rs 174.4 after they surged 8 per cent on the BSE in the intra-day trade on Monday, extending its 10 per cent gain in the past week. The stock was trading at its highest level since June 2018. READ MORE

2:24 PM

ALERT :: 52.9 lakh Equitas SFB shares traded in a block

Source: ET NOW

2:23 PM

Auto, Realty, Metal indices outshine benchmark indices

Sectoral indices such as Nifty Auto, Realty and Metal indices are up 2-3.5 per cent each in an otherwise range-bound markets. 

2:22 PM

InterGlobe Technology Quotient and EaseMyTrip announce agreement worth $10 mn

>> InterGlobe Technology Quotient, a leading travel technology provider today announce its agreement with EaseMyTrip, India’s secondlargest online travel platform, to provide seamless access to ITQ’s travel commerce platform – Travelport (1G). The agreement is worth $10 million as advance revenue from ITQ.

 

2:04 PM

Flaring crude oil price, entry of new players to hit IndiGo: Analysts

InterGlobe Aviation (IndiGo) shares dropped nearly 4 per cent in Monday’s intra-day trade after flaring Brent crude oil prices and over-supply situation in the aviation industry worried Street. In the last one week alone, Brent crude oil prices have surged over 6 per cent to around $79 per barrel mark. That apart, the stock's outperformance over the past few weeks also dented sentiment. Over the past six months, IndiGo has surged over 31 per cent on the BSE as against a 20 per cent rise in the S&P BSE Sensex. READ MORE

 

1:53 PM

ALERT :: PharmEasy may file DRHP for IPO by Oct-end

>> All 5 PharmEasy founders also selling shares in pre-IPO round
 

>> Co looks to raise $340 mn in pre-IPO round
 

>> Bankers advising to value IPO at $6-7 bn vs $9-10 bn fair valie
 

>> Co to leave value on table for investors

 

Source: ET NOW

1:43 PM

ALERT :: Nucleus Software's retail payment product, PaySe passes RBI's Regulatory Sandbox

>> RBI has also stated in its exit letter that PaySe may be considered viable for wider adoption for rural masses

>> PaySe is currently working with state rural livelihood missions to digitize the existing process of loan disbursement and collection in order to increase financial inclusion for rural masses

1:32 PM

China could be heading for power supply crisis after Evergrande shock

China may be diving head first into a power supply shock that could hit Asia’s largest economy hard just as the Evergrande crisis sends shockwaves through its financial system. The crackdown on power consumption is being driven by rising demand for electricity and surging coal and gas prices as well as strict targets from Beijing to cut emissions. It’s coming first to the country’s mammoth manufacturing industries: from aluminum smelters to textiles producers and soybean processing plants, factories are being ordered to curb activity or -- in some instances -- shut altogether. READ MORE

 

1:22 PM

Hotel stocks on a roll; Indian Hotels, Chalet, EIH surge over 10%

Shares of hotels companies were on a roll and rallied by up to 15 per cent on the BSE in Tuesday’s intra-day trade on hopes of business revival on pent-up vacation plans, as travel related restrictions ease. READ MORE