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Economic Times | 22 Sep, 2020 | 10.37AM IST

Traders' Diary: Nifty upside hurdles shifting towards 11,450 zone

RIL, ICICI Bank, Airtel lead the market fall as 27 of 30 Sensex stocks end the day in the red

!1 New UpdateClick here for latest updates
09:38 PM

Bull run over? Analysts fear a long-dreaded correction in stock markets

“It is possible that we may see more correction in the market. Scotland and the UK have said they are contemplating a lockdown. Fears that more economies may close down are creating more nervousness in the market,” said Abhimanyu Sofat, head of research at IIFL Securities.
Bull run over? Analysts fear a long-dreaded correction in stock markets
08:56 PM

Ahead of Market: 12 things that will decide stock action on Tuesday

Manish Hathiramani, proprietary index trader and technical analyst said the index could drop to 10950-11000 levels as the fall today has been fierce and on the back of good volumes.
Ahead of Market: 12 things that will decide stock action on Tuesday
08:26 PM

SBI raises Rs 7,000 cr via Basel III compliant bonds

The allotment of bonds to the subscribers took place on the same date i.e. September 21, 2020, it added.
SBI raises Rs 7,000 cr via Basel III compliant bonds
07:27 PM

Wall Street falls on virus fears, stimulus uncertainty

The Dow Jones Industrial Average hit a near two-month low shortly after opening 172.71 points, or 0.62%, lower at 27,484.71. The S&P 500 opened lower by 33.90 points, or 1.02%, at 3,285.57 and the Nasdaq Composite dropped 183.14 points, or 1.70%, to 10,610.14 at the opening bell.
Wall Street falls on virus fears, stimulus uncertainty
06:21 PM

Why bank stocks bled? Research reveals suspicious transactions

Nifty Private Bank plunged 3.71 per cent and Nifty PSU Bank 4.39 per cent. Public sector banks were further pressured by RBI’s statement that said these banks reported frauds worth over Rs 19,964 crore in total 2,867 cases during the April-June quarter of the ongoing fiscal year.
Why bank stocks bled? Research reveals suspicious transactions
05:55 PM

Market Movers: Route Mobile shines on listing, telcos worst hit; 417 stocks hit lower circuit

The selloff was more intense for mid and small cap stocks that had witnessed a rally after Sebi tweaked norms for multicap funds earlier this month. Among sectoral performances, telecom stocks were the worst hit, while the IT stocks remained relatively resilient, with Infosys logging a record high.
05:38 PM

Tech View: Nifty below 50-DMA, needs to revisit 11,333 for any recovery

After Monday’s fall, the index has come near the recent swing low of 11,185. Analysts said the NSE barometer needs to take out the 11,300-333 range to signal any sign of recovery.
Tech View: Nifty below 50-DMA, needs to revisit 11,333 for any recovery
05:30 PM

F&O: Nifty forming lower top and bottom, spike in VIX bad news for bulls

As long as Nifty sustains below 11,333 level, more weakness could be seen towards 11,111 and 11,000 levels, while on the upside, hurdles are shifting lower to 11,450 level.
05:02 PM

Start nibbling at top 5-6 banks via SIPs: S Naren

‘The outlook for the top five, six banks continues to be extremely good at this point of time. Everything cannot become a platform.’
04:30 PM

Monday Mayhem! Investors lose Rs 4.58 lakh crore; top factors behind Sensex's 812-point crash

India VIX, the measure of fear in the market, jumped over 9 per cent to 21.86 reflecting the sentiments of the market community which expects heightened volatility in the market.
Monday Mayhem! Investors lose Rs 4.58 lakh crore; top factors behind Sensex's 812-point crash
03:42 PM

This is how the 30-pack Sensex moved in today's session. It touched a high of 38,990.76 and a low of 37,938.53 to finally settle at 38,034.14

This is how the 30-pack Sensex moved in today's session. It touched a high of 38,990.76 and a low of 37,938.53 to finally settle at 38,034.14
03:41 PM

CLOSING BELL: Global selloff sends Sensex tumbling 812 pts, Nifty50 slips below 11,250; Jindal Steel dives 13%, IndusInd Bank 9%

  • RIL, ICICI Bank, Airtel lead the market fall
  • 27 of 30 Sensex stocks end the day in the red
  • Index contributors: RIL, ICICI Bank, Airtel, HDFC Bank, HUL
  • Top Index gainers: TCS (0.63%), Infosys (0.36%), Kotak Bank (0.33%)
  • Top Index losers: IndusInd Bank (8.57%), Airtel (5.95%), Tata Steel (5.93%)
  • All BSE indices end the day in the red
  • S&P BSE Telecom biggest sectoral loser, down 5.77%
  • Volume toppers: RIL, SBI, HCL Tech, IndusInd Bank, Bajaj Fin
CLOSING BELL: Global selloff sends Sensex tumbling 812 pts, Nifty50 slips below 11,250; Jindal Steel dives 13%, IndusInd Bank 9%
03:30 PM

BSE Realty index down nearly 5%. Here are the top losers in the real estate sector

Price as on 21 Sep, 2020 03:30 PM, Click on company names for their live prices.
03:09 PM

ESG is the right way to invest during periods of volatility: S Naren

‘ESG is a category which is going to gain traction over the next few decades, says he Executive Director & Chief Investment Officer of ICICI Prudential AMC.
ESG is the right way to invest during periods of volatility: S Naren
03:03 PM

Metal stocks bleed, index down over 4%. Here are the top losers

Price as on 21 Sep, 2020 03:03 PM, Click on company names for their live prices.
02:53 PM

Rupee settles 7 paise higher at 73.38 against US dollar

The rupee strengthened 7 paise and closed at 73.38 (provisional) against the US dollar on Monday, even as the domestic equity market traded with significant losses. At the interbank forex market, the domestic unit opened at 73.43 against the US dollar, and finally settled for the day at 73.38 against the greenback, registering a rise of 7 paise over its previous close.
Rupee settles 7 paise higher at 73.38 against US dollar
02:51 PM

S&P BSE Telecom biggest sectoral loser, down over 5%. This is how the index stocks are performing

S&P BSE Telecom biggest sectoral loser, down over 5%. This is how the index stocks are performing
02:44 PM

27 of 30 Sensex stocks trading in the red

27 of 30 Sensex stocks trading in the red
02:40 PM

Sensex plunges over 750 points, Nifty below 11,300; IndusInd Bank tanks 7%, Airtel 6%

Sensex plunges over 750 points, Nifty below 11,300; IndusInd Bank tanks 7%, Airtel 6%
02:35 PM

Here are the top losers in the tourism and hospitality sector

Price as on 21 Sep, 2020 02:35 PM, Click on company names for their live prices.
01:56 PM

US stock futures extend decline

US stock futures extend decline
01:42 PM

Barclays raises 2020 oil price outlook

Barclays Commodities Research on Monday raised its oil price forecasts for 2020, citing limited potential downside to its demand outlook. The bank raised its 2020 Brent and U.S. West Texas Intermediate (WTI) price forecasts by $2 to $43 per barrel and $39, respectively.
01:40 PM

Is it possible for farmers groups to set up their own marketing groups and do their own marketing? It is possible to do that but it will take time. If it is done, there will be a great advantage. Just to give an example, Amul is a milk cooperative where farmers got together and did their own marketing and it produced great results.

- Swaminathan Aiyar

01:35 PM

Adani Ports to continue its climb: CK Narayan

When a stock shows some good price action that is also accompanied by some good new momentum then it is a fair chance that the new move will sustain for some more time. This seems to be the case in Adani Ports and hence we can expect the current rise to continue further and reach higher levels in coming sessions.
Adani Ports to continue its climb: CK Narayan
01:31 PM

Angel Broking IPO: Details, valuations, management view and analyst ratings

Many traditional brokerages have floated discount broking models and invested heavily into technology to make most of the trend. Angel Broking’s forthcoming IPO is a play on this industry-wide digitisation.
01:13 PM

Edelweiss Fin, IB Housing among top loser in the NBFC space; shed up to 14%

Price as on 21 Sep, 2020 01:13 PM, Click on company names for their live prices.
12:57 PM

Rites bags Rs 475 cr contract

RITES has been awarded a contract for Railway Electrification works on competition basis amounting to Rs 474.92 crore. An MOU will be executed between RITES and the concerned Railway in this regard in due course.
12:22 PM

BSE Realty declines 1.75%; Prestige only stock in the green

BSE Realty declines 1.75%; Prestige only stock in the green
12:17 PM

HCL Technologies shares jump 5% after DWS deal

HCL Technologies shares jumped nearly 5 per cent on Monday after the company said it will acquire Australian IT solutions firm DWS, a move that will help the Indian company strengthen its position in the Australia and New Zealand markets. Shares of the company rose by 4.75 per cent to Rs 849.70 -- its 52-week high -- on the BSE.
HCL Technologies shares jump 5% after DWS deal
12:14 PM

Chemcon Speciality Chemicals subscribed fully

The initial public offering (IPO) of Chemcon Speciality Chemicals was subscribed 1.58 times on Monday as of 12.04 pm. Out of 65,59,173 shares on offer, the issue had received applications for 1,03,88,356 shares. The retail quota saw huge applications and was fully subscribed within 45 minutes of opening for subscription.
12:08 PM

CAMS IPO subscribed 15% on Day 1 so far

The initial public offering (IPO) of Computer Age Management Services or CAMS was subscribed 15 per cent on Monday as of 11.19 am. Out of 1,28,27,370 shares on offer, the issue had received applications for 19,98,648 shares. The retail quota saw the maximum application and was subscribed over 30 per cent. Out of 63,22,435 shares on offer for retail investors, the issue had received applications for 19,52,400 shares.
11:57 AM

PSU banks trade lower as RBI says they reported frauds worth over Rs 19,964 crore in Q1

Price as on 21 Sep, 2020 11:57 AM, Click on company names for their live prices.
11:47 AM

CLSA raises price target for media firms

Price as on 21 Sep, 2020 11:47 AM, Click on company names for their live prices.
11:43 AM

BSE Telecom slips nearly 3%; all but 2 stocks trade in the green

BSE Telecom slips nearly 3%; all but 2 stocks trade in the green
11:10 AM

Chemcon IPO subscribed 78% within 45 mins; retail quota attracts 1.55 times bids

The initial public offering (IPO) of Chemcon Speciality Chemicals, which serves pharma and oil well industries, was subscribed 0.78 times on Monday as of 10.45 am. The retail quota saw huge applications and was fully subscribed withing 45 minutes of the bidding process.
Chemcon IPO subscribed 78% within 45 mins; retail quota attracts 1.55 times bids
10:37 AM

Market to go higher in days to come: Mahantesh Sabarad

We will see markets reaching to higher levels simply because there is a huge amount of liquidity still in place. The Fed commentary that was there a couple of days ago was in line with this liquidity theme. As the lockdown gets gradually lifted, we are seeing economic activity bouncing back quite sharply. When economic activity bouncing back meets a liquidity rush, markets are bound to go higher for the time being.
10:13 AM

Route Mobile off to a solid start, lists at 105% premium

Route Mobile made a strong stock market debut on Monday as the scrip got listed at Rs 717, a 104.86 per cent premium over its issue price of Rs 350 on NSE. Meanwhile, on BSE it listed at Rs 708, a premium of 102.29 per cent. With this, Route Mobile has joined the elite club that includes DMart and IRCTC, and the recent debutant Happiest Minds, which gained over 100 per cent on their debuts.
09:58 AM

There should be three layers to your financial planning -- security, stability and ambition -- and three types of assets so that you feel both secure and at the same time have an upside exposure as well.

- Saurabh Mukherjea, Founder, Marcellus Investment Managers

09:44 AM

Software oriented IT firms surge up to 7% in opening session

Price as on 21 Sep, 2020 09:44 AM, Click on company names for their live prices.
09:23 AM

Vodafone Idea, YES Bank, SBI among most active stocks on NSE

Price as on 21 Sep, 2020 09:23 AM, Click on company names for their live prices.
09:22 AM

OPENING BELL: Sensex rises 25 points, Nifty holds above 11,500; VIX jumps 3%; HCL Tech gains 2%, Bajaj Auto sheds 2%

OPENING BELL: Sensex rises 25 points, Nifty holds above 11,500; VIX jumps 3%; HCL Tech gains 2%, Bajaj Auto sheds 2%
09:03 AM

Pre-open session: Sensex gains 300 points, Nifty nears 11,550

08:55 AM

States told to decide borrowing option

Any state that does not choose one of the borrowing options offered by the Centre to compensate for the revenue loss on account of GST transition may have to wait till June 2022 to get compensation, a senior government official has said. As many as 21states have backed the first option, entailing Rs 97,000 crore borrowing, more than the requisite number needed to pass a resolution in the GST Council if it is put to vote.
08:55 AM

Paytm says all option open against Google

Paytm founder and CEO Vijay Shekhar Sharma says “all options are open,” to legal recourse against Google after the technology major temporarily removed the mobile payment platform’s app from its Play Store for running a scratch card-based cricket promotion, which breached its gambling policies. He said the company would also seek government and regulatory intervention. Sharma tore into Google’s practice of barring apps that were compliant with Indian laws, saying his 'fight' will be a long-drawn one.
08:55 AM

Bank FDs may cease to be collateral

Brokers may cease to accept bank fixed deposits from clients as margins for stock market transactions. Clearing corporations — entities associated with stock exchanges to handle confirmation, settlement and delivery of all trades — are planning to remove FDs from the list of securities that can be put up as collaterals against trades, said people with direct knowledge of the development.
08:54 AM

Independent directors ringfence assets

Several independent directors have begun ringfencing their assets by transferring titles to trusts or family members to safeguard their interests in case of any acts of financial mismanagement or fraud by the company promoter or management of boards they sit on. Some are doing this by way of creating a family trust where they can park their assets while others are simply transferring assets in the name of family members.
08:54 AM

Malls seeing more footfall

Footfalls in most malls have doubled since the reopening on June 8, with many of them reporting up to 60% of the footfalls in comparison with pre-Covid levels. Mall operators said they expect to reach 80% level by November, with the festive season round the corner, no weekend lockdown in states and expectation of opening of cinemas next month.
08:54 AM

Business sentiment bouncing back

Business sentiment has bounced back between July and September as India gradually lifted restrictions imposed due to the outbreak of Covid-19, a confederation of Indian industry (CII) survey has pointed out. Even though capacity utilisation has been improving, weak domestic demand still remains a concern, the industry body said in its recent Business Outlook Survey.
08:53 AM

Govt may sweeten Air India deal

The government has decided to go ahead with the process to divest stake in Air India and is discussing proposals to further sweeten the deal for prospective bidders by allowing some relaxations along the bidding process. However, any significant reduction in debt has been ruled out. Senior government officials said some options, including allowing interested parties to bid based on the enterprise value, are being considered.
08:53 AM

Promoter buying lifts sentiment

Promoters have been mopping up shares of their firms in the secondary market of late, signalling optimism about their companies’ prospects amid challenging economic conditions. Since August 1, promoters of nearly 70 companies — mostly from mid- and small-cap segments — have increased their stakes. Some large companies, whose shares have been beaten down, too saw their promoters raising their holdings through open market purchases.
07:26 AM

SGX Nifty signals negative start

Nifty futures on the Singapore Exchange traded 21.5 points, or 0.19 per cent lower at 11,497.50, in signs that Dalal Street was headed for a negative start on Monday.
07:25 AM

Route Mobile to make market debut today

After Happiest Minds' stellar 111 per cent listing gains, Route Mobile is likely to follow suit, with grey market trends suggesting a strong debut on Monday. The issue, which was sold in the price band of Rs 345-350 from September 9 to September 11, is commanding a premium of Rs 310-312 in the grey market. At the upper limit of this grey market premium (GMP) suggest a 89 per cent listing pop of Route Mobile.
07:24 AM

Chemcon IPO to open for subscription today

The Rs 318 crore initial public offer (IPO) by Chemcon Speciality Chemicals, which serves pharma and oil well industries, hit the Street on Monday. The Vadodara-based company is offering a fresh issue of equity shares, aggregating up to Rs 165 crore and offer for sale of up to 45,00,000 equity shares, to be sold in the price range of Rs 338-Rs 340.
07:23 AM

CAMS's Rs 2,242 crore IPO to kick off today

The Rs 2,242 crore initial public offer (IPO) by Computer Age Management Services (CAMS) will open up for bidding on Monday. The Warburg Pincus-backed company last week raised Rs 666.57 crore from a total of 35 investors at Rs 1,230 per share, ahead of the public issue. The price band for the issue has been fixed at Rs 1,229-1,230 and prospective retail investors need to bid for a minimum of one lot of 12 shares or in multiples thereof.
07:22 AM

Tech View: Nifty rally losing steam

Nifty50 fell for the second straight session on Friday and barely held above the 11,500 level. The index formed a Bearish Belt Hold on the daily chart and an indecisive Doji-like candle on the weekly chart. Such formations after Nifty50 retraced 62 per cent of the fall from the highs of 11,794-11,185 hint that the recent rally is losing steam, said Mazhar Mohammad of Chartviewindia.in.
07:20 AM

Asian shares tentative as attention shifts to US election, stimulus

Asian shares held to tight ranges on Monday, as did currencies, as investors awaited developments on U.S. fiscal stimulus and coronavirus vaccines amid a resurgence of infections in Europe. MSCI's broadest index of Asia-Pacific shares outside Japan was a shade weaker, though it was not too far from a June 2018 peak at 568.84. Australian and New Zealand shares both opened in the red while South Korea's KOSPI was 0.1% up.
07:19 AM

US stocks settle lower on Friday

US stocks continued to drop as market sentiment was dampened by mixed economic data and geopolitical concerns.The Dow Jones Industrial Average on Friday fell 244.56 points, or 0.88 per cent, to 27,657.42. The S&P 500 dropped 37.54 points, or 1.12 per cent, to 3,319.47. The Nasdaq Composite Index decreased 116.99 points, or 1.07 per cent, to 10,793.28.
07:18 AM

Rupee rises by 21 paise to over 1-week high as dollar weakens

The rupee strengthened by 21 paise to close at more than one-week high of 73.45 against the US dollar on Friday as the greenback weakened in the global markets. At the interbank forex market, the domestic unit opened higher at 73.47 against the dollar and touched a day's high of 73.15 as the dollar fell against its major rivals.The local unit later lost some ground to close up by 21 paise at 73.45, a level not seen since September 7.
07:16 AM

Sensex, Nifty on Friday

Equity benchmarks nursed losses for the second consecutive session on Friday as investors offloaded banking, finance and consumption stocks amid mixed global cues. The BSE Sensex, which opened on a firm footing, came under fag-end selling pressure and closed at 38,845.82, down 134.03 points or 0.34 per cent. Similarly, the broader NSE Nifty slipped 11.15 points or 0.10 per cent to finish at 11,504.95.
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