Sensex down 638 pts; Nifty nears 16900; Adani Group stocks slide, pharma up

CLOSING BELL: Adani Enterprises was the biggest Nifty dragger as it dropped 9 per cent

3:12 PM

Adani Group stocks crack; Adani Enterprises, ATGL hit 10% lower limit

Adani Total Gas was the other major loser, the stock hit the 10 per cent lower limit at Rs 2,919, and was down 8 per cent at Rs 3,070. The stock too has shed over 23 per cent from its all-time peak of Rs 3,816 registered in August 2022. READ MORE

2:54 PM

Global markets :: US futures trade mixed

2:38 PM

Crude shock :: Brent crude futures climb 7% in 2 days on expected supply cut

Source: oilprice.com
 

2:30 PM

Taxing times :: Aug tax collections decline 7.7%; personal income tax mop-up drops 37%

Personal income tax declined 37.6 per cent at Rs 23,813 crore in August this year from Rs 38,162 crore in the same month last year. This means that direct taxes fell 42 per cent to Rs 34,972 crore in August this year from Rs 60,363 crore in the same month last year. READ MORE

2:20 PM

RBI may set cut-off yield on 10-year state bonds in 7.74-7.77% band: Report

 Indian states will aim to raise an aggregate of 195 billion Indian rupees ($2.38 billion) on Monday through sale of bonds maturing in eight years to 25 years. READ MORE

2:11 PM

Manufacturing PMI dips to 3-month low of 55.1 in September on poor demand

India's factory growth dipped to a three-month low in September due to a moderation in demand and output, despite easing inflationary pressures and strong business confidence. READ MORE

2:04 PM

Adani Enterprises slips for seventh day, falls 5%; stock tanks 9% in 1 week

Shares of Adani Enterprises slipped 5 per cent to Rs 3,280 on the National Stock Exchange (NSE) in Monday's intra-day trade. The stock of the Adani Group's flagship company was trading lower for the seventh straight day, and has fallen 12 per cent during the period. It has corrected 16 per cent from its record high level of Rs 3,885, touched on September 20. READ MORE

1:56 PM

India's largest fintech M&A deal falls through: PayU calls off BillDesk buy

The biggest merger & acquisition (M&A) deal in the Indian financial technology space has fallen through, with Prosus-backed PayU calling off the acquisition of BillDesk. The acquisition, for a total consideration of $4.7 billion, had been announced on August 31, 2021. READ MORE

1:49 PM

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Former promoters cannot continue holding residual stake in an insolvent company after it has been acquired by another entity under the Insolvency and Bankruptcy Code (IBC), the Supreme Court has said. READ MORE

1:43 PM

Credit Suisse crisis :: Stock tanks 9% as CEO's letter fails to calm markets

Credit Suisse Group AG’s new chief has asked investors for less than 100 days to deliver a new turnaround strategy. The cost of insuring the firm’s bonds against default climbed about 15% last week to levels not seen since 2009 as the shares touched a new record low.  READ MORE

1:36 PM

Nifty50 Gainers & Losers: ONGC shines, Adani Enterprises whines

1:27 PM

Expert Tweets :: Shankar Sharma on India's resilient markets

1:21 PM

Nifty Pharma outperforms benchmark, up 2%; Cipla, Sun Pharma hit 52-week high

Shares of pharmaceutical companies were in focus as frontline stocks rallied up to 6 per cent in Monday's intra-day trade, due to strong business outlook. At 12:12 PM; Nifty Pharma and the S&P BSE Healthcare indices were up 2 per cent each, as compared to 0.4 per cent decline in the Nifty50 and the S&P BSE Sensex. READ MORE

1:11 PM

Liz Truss drops tax cut for highest UK earners to fend off revolt

Prime Minister Liz Truss dropped a plan to cut taxes for the highest earners just 10 days after announcing it, in a bid to fend off a mounting rebellion from Members of Parliament in her own Conservative Party. READ MORE

1:01 PM

Asian Markets Update:: Nikkei gains 1%; Hang Seng, Taiwan decline 1%

Source: Yahoo Finance