Sensex snaps 4-day losing streak, ends 721 pts up; Nifty reclaims 18,000

CLOSING BELL: The NSE Nifty shut shop at 18,015, up 208 points. Broader indices outperformed the benchmarks with gains of up to 3 per cent.

10:22 AM

NDTV gains 5% as founders plan to sell 27.26% stake to Adani group

Shares of New Delhi Television (NDTV) were up 5 per cent to Rs 357.60 in Monday’s intra-day trade, after the company’s founders Prannoy Roy and Radhika Roy decided to sell 27.26 per cent out of their 32.26 per cent shareholding in the news broadcaster to the Adani Group. Read more

10:15 AM

COMMENT: Heavy FII selling in call options hint at slow recovery

The market sell off on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns and margin calls in many momentum stocks.

It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crores.

This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments.

Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough. Long term investors can nibble at high quality stocks in capital goods, telecom, banking and pharma.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:00 AM

Trend to remain positive for Gold above Rs 54,040; Silver 66,940

The MCX Gold and Silver futures were seen consolidating after the recent rally. The short-term bias for these precious metals is likely to remain positive as long as they sustain above the 20-DMA. On the upside, Gold futures are likely to counter some resistance around Rs 55,150, Silver around Rs 70,250. Read here

9:51 AM

Siemens rises 3%; bags Rs 26K-cr tender from railways to supply 1200 freight trains

9:47 AM

Restaurant Brands up 2%; launches Popeyes brand in Indonesia

9:44 AM

Sharp profit taking in Morepen Labs after 3-day rally

9:41 AM

Quess Corp erases losses; withdraws merger with Allsec Tech

The company said its board has decided to withdraw the proposal for the amalgamation of Allsec Technologies with itself due to changed market scenario.

9:38 AM

SJVN rallies 6% on bagging full capacity for 100MW of wind power project

The company has won the full capacity of the 100 MW wind power project at Rs 2.90 per unit on a build-own-and-operate basis through an e-reverse auction.

 

9:35 AM

Suven Pharma off highs; Advent to buy significant stake in co

Advent International has entered into an agreement to acquire a significant stake in Suven Pharma, with its promoters the Jasti family. Advent will also be making an open offer for an additional 26 per cent stake, and explore merger of Suven Pharma with its portfolio firm Cohance Lifesciences.

9:30 AM

MARKET CHECK: Sensex swings to positive zone; gains 300 pts

9:27 AM

SECTORS: PSB index up around 2%; Realty, Metal pockets rise 1% each

9:25 AM

Union Bank leads mid-cap winners; Adani Power slumps 5%

9:23 AM

BROADER MARKETS: Small-caps, mid-caps bounce up to 1%

9:20 AM

HEATMAP: Power Grid, M&M, Tata Motors lead Sensex gainers

9:18 AM

OPENING BELL: Nifty starts with marginal downtick