Indian equities came under heavy selling pressure on Monday. Sensex had touched a high of 49,263 in early deals but soon gave up all gains to fall as low as 48,274.92. The Nifty moved in the range of 14,491-114,218.60
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25 Jan 2021, 03:46:57 PM IST
Sensex, Nifty end 1% lower each dragged down by IT, auto, FMCG stocks
Having surged at open, Indian equities soon came under selling pressure with benchmark indices ending the day 1% lower.
Sensex settled the session at 48,347.6, down 531 points or 1.09%, dragged down by Reliance Industries, IndusInd Bank, HCL Tech, and HDFC Ltd.
The Nifty closed below the 14,250-mark at 14,239, down 133 points or 0.93%.
Barring metal and pharma indices, all other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed over 1% each.
25 Jan 2021, 03:24:00 PM IST
Indian rupee at 72.90 per dollar vs Friday's close of 72.97 to a dollar
Indian rupee traded at 72.90 per dollar, amid a sell-off in domestic equities. The unit had opened flat at 72.95 per dollar against Friday's close of 72.97.
Indian markets opened on a a positive note following Asian markets peers but could not maintain initial gains as selling pressure overwhelmed the broader markets. During the afternoon session, markets tried to scale back to positive territory but succumbed to sustained selling pressure as news that Indian and Chinese troops came face-to-face at Naku La in North Sikkim last week amid the tense border standoff between the two sides in eastern Ladakh which turned traders cautious ahead of official clarification.
On the sectoral front, IT, FMCG, PSU and cyclical stocks led the fall while Pharma and financial services traded with gains.
25 Jan 2021, 03:12:28 PM IST
Bombay HC refuses bail to Yes Bank founder Rana Kapoor: PTI
25 Jan 2021, 03:07:39 PM IST
GST shortfall: Centre releases 13th instalment of ₹6,000 cr to states
The finance ministry on Monday released the 13th instalment of ₹6,000 crore to states to meet GST compensation shortfall, taking the total amount of funds released so far to ₹78,000 crore.
In a statement, the ministry said Rs5,516.60 crore has been released to 23 states and an amount of Rs483.40 crore has been released to the three union territories with legislative assembly - Delhi, Jammu & Kashmir & Puducherry.
25 Jan 2021, 03:07:39 PM IST
Top gainers/losers on Nifty at this hour
25 Jan 2021, 02:53:10 PM IST
Indian Oil Corp raises ₹1,290 crore in debt
Indian Oil Corporation Ltd (IOC) has raised ₹1,290.20 crore in debt to refinance existing borrowings and meet business expenses, the energy major said in a stock exchange filing on Monday.
IOC said it has issued "5.60 per cent unsecured, listed, rated, taxable, redeemable, non-convertible debentures of ₹10 lakh each aggregating to ₹1,290.20 crore on private placement basis."
European stock markets rose at the start of trading on Monday following gains across Asia.
London's benchmark FTSE 100 index climbed 0.3% to 6,713.14 points.
In the eurozone, Frankfurt's DAX 30 index advanced 0.5% to 13,943.98 points and the Paris CAC 40 added 0.3% to 5,575.33.
25 Jan 2021, 02:38:04 PM IST
Why covid-19 has been a shot in the arm for online food delivery firms
The initial stages of the covid-19 pandemic and the ensuing strict lockdown had an adverse impact on Indian online food delivery companies, broadly dominated by Zomato and Swiggy. Consumers had shied away from online food ordering due to apprehensions on safety and a general preference for home-cooked food. But things picked up later on and the recovery has been faster. Analysts reckon the pandemic has helped companies improve unit economics and add more consumers, as the frequency to dine out has dropped. (Full Report)
25 Jan 2021, 02:36:03 PM IST
Sensex extends fall, near day's low
25 Jan 2021, 02:18:07 PM IST
TCS pips Reliance Industries to become India's most-valued firm
Tata Consultancy Services on Monday surpassed Reliance Industries Ltd to become the country's most valued firm by market capitalisation.
During the afternoon trade, the market valuation of Tata Consultancy Services (TCS) was at ₹12,45,341.44 crore while that of Reliance Industries Ltd (RIL) was at ₹12,42,593.78 crore on the BSE.
Kotak Mahindra Bank Q3 results; PAT at Rs1,854 crore: ETNow
25 Jan 2021, 01:51:23 PM IST
Dixon's subsidiary to manufacture Nokia smartphones: BSE filing
Dixon Technologies' wholly-owned subsidiary, Padget Electronics, has entered into an agreement with HMD India for manufacturing of Nokia smartphones. The smartphones will be manufactured at Padget's manufacturing facility in Noida, Uttar Pradesh.
25 Jan 2021, 01:41:34 PM IST
Strides Pharma receives US FDA approval for Ursodiol
Strides Pharma Science Limited (Strides) on Monday announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte., Singapore, has received approval for Ursodiol Capsules USP, 300 mg from the US Food and Drug Administration (US FDA).
According to IQVIA MAT November data, the US market for Ursodiol Capsules USP, 300 mg, is approximately $45 million. The product will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
Ursodiol tablets are indicated for the treatment of patients with primary biliary cirrhosis.
"This is positive development for the company but the market size is very small, we expect this will not create any major impact of earning. We have a neutral rating on Strides Pharma," said Yash Gupta, equity research associate, Angel Broking.
25 Jan 2021, 01:38:35 PM IST
Stove Kraft IPO off to strong start, retail segment over subscribed
The IPO of kitchen appliances manufacturer Stove Kraft Ltd was off to a strong start. As of 1230 pm, the issue was 0.44 times subscribed, with the retail segment subscribed about 2.5 times.
25 Jan 2021, 01:27:20 PM IST
SC seeks Centre's reply in PIL seeking setting up of media tribunal: PTI
The Supreme Court on Monday sought responses from the Centre, Press Council of India (PCI) and the News Broadcasters Association (NBA) on a PIL seeking setting up of a media tribunal to adjudicate on complaints against media, channels and networks.
25 Jan 2021, 01:26:17 PM IST
UCO Bank reports net profit of ₹35 crore for Dec quarter
Net interest income rises 13.8% year-on-year to ₹1,407.2 crore.
Lupin gets US FDA nod for Sevelamer Carbonate tablets, 800 mg
25 Jan 2021, 12:38:58 PM IST
Nifty view: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking
For the Nifty, 14500 – 14632 would be seen as immediate hurdles. Historically, it is rare to see a major trend reversal ahead of any mega event. Hence, it would be interesting to see how things pan out in this week as the Union Budget is around the corner. Looking at the price development, it does not look encouraging. All eyes should be on the financial space; because if further weakness has to come, it would certainly be led by this space. We continue to advise staying light on positions and should ideally avoid creating leveraged positions ahead of the budget (especially in high beta counters). With a broader view, if any significant correction comes, it would be a great opportunity to accumulate quality propositions in a staggered manner
25 Jan 2021, 12:21:20 PM IST
Asian equities rise on hopes of economic revival
Asian shares rose Monday amid some hopes for recovering economies slammed by the pandemic, as attention turned to upcoming company earnings.
Japan's benchmark Nikkei 225 gained 0.7 to finish at 28,822.29. Australia's S&P/ASX200 added 0.4% to 6,824.70. South Korea's Kospi gained 2.1% to 3,207.64. Hong Kong's Hang Seng jumped 1.8% to 29,983.32, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,609.09.
25 Jan 2021, 12:20:25 PM IST
Indian, Chinese soldiers injured in physical brawl near Naku La in Sikkim: ANI
Several Indian and Chinese soldiers were injured after they were involved in a physical brawl along the Line of Actual Control (LAC) last week near Naku La area in Sikkim.
"Troops of India and China involved in a physical brawl along the Line of Actual Control last week near Naku La area in Sikkim. Soldiers from both sides are injured," sources said.
In June last year, 20 Indian soldiers, including a colonel, lost their lives in clashes with Chinese troops in the Galwan Valley.
The ninth round of Corps Commander Level talks between India and China to address the ongoing military standoff in Ladakh ended at 0230 am on Monday.
The meeting lasted for more than 15 hours after starting at 11am on Sunday at Moldo opposite Chushul in the eastern Ladakh sector.
25 Jan 2021, 12:14:09 PM IST
IPO Update | Home First Finance IPO subscribed nearly 3 times so far
25 Jan 2021, 12:04:11 PM IST
Markets at 12pm
25 Jan 2021, 12:02:32 PM IST
India VIX jumps over 5%
25 Jan 2021, 11:36:21 AM IST
Nifty broad market indices mostly lower
25 Jan 2021, 11:32:39 AM IST
Bitcoin rebound to $40,000 in doubt as Grayscale Fund flows slow
Cryptocurrency enthusiasts counting on Bitcoin to bounce back above the $40,000 level face a challenge due to faltering demand for the biggest fund tracking the digital asset, according to JPMorgan Chase & Co.
The pace of flows into the $20 billion Grayscale Bitcoin Trust “appears to have peaked" based on four-week rolling averages, JPMorgan strategists led by Nikolaos Panigirtzoglou said in a note Friday. The fund slid 22% over the past two weeks through Jan. 22, outpacing a 17% drop in Bitcoin in the same period.
25 Jan 2021, 11:21:34 AM IST
Indian, Chinese troops clash at Naku La Pass in Sikkim; injuries have been reported on both sides: CNN-News18
25 Jan 2021, 11:07:19 AM IST
Grasim top gainer on Nifty, surges over 5%; company to foray into paints business
25 Jan 2021, 10:59:18 AM IST
Aurobindo gains 5% on govt nod for promotion of manufacturing bulk drugs
The central government has given the company approval under the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical bulk drugs. The PLI scheme aims at promotion of manufacturing of critical key starting materials (KSMs)/drug intermediates and APIs in the country
25 Jan 2021, 10:52:25 AM IST
India coronavirus update
India's tally of cases of coronavirus disease stood at 1,06,67,736 as of Monday, with 13,203 new infections reported in the past 24 hours, as per data from the health ministry. Recoveries touched 10,330,084 with 13,298 new discharges. Active cases slumped by 226 to 184,182. Death toll was at 1,53,470.
25 Jan 2021, 10:49:43 AM IST
Tata Medical & Diagnostics in talks with Moderna to launch covid vaccine
Tata Medical & Diagnostics, a recently formed subsidiary of Tata Sons, is said to have started initial discussions with Moderna for a partnership to launch its Covid vaccine in India
25 Jan 2021, 10:41:28 AM IST
Nifty Financial Services index surges nearly 2%
25 Jan 2021, 10:38:20 AM IST
Investors relieved as RBI’s proposed rules on NBFCs leaves out toughest norms
India’s big non-banking finance companies (NBFC) would soon have to meet stricter rules that their banking peers are subject to and that would mean less elbow room to lend.
The Reserve Bank of India (RBI) has listed out an elaborate tier-wise classification of NBFCs and the regulations that it wants to apply on them in a discussion paper last week. But going by the sharp gains in shares of big NBFCs today, it seems investors are fine with it. In fact, investors seem relieved that the paper didn’t really seem to clip the wings of lending of these companies.
25 Jan 2021, 10:13:10 AM IST
Faster-than-expected debt reduction a shot in the arm for Ultratech stock
Cement maker Ultratech Cement Ltd reported stellar earnings for the December quarter, with volumes growing 14% year-on-year to 23.9 million tonnes. Analysts say, this growth is higher than the industry and comes along with strong margin expansion. Reacting to the earnings, the Ultratech stock hit a fresh 52-week high of ₹5,831 on the NSE on Monday.
Another key takeaway for investors was sequential net debt reduction of Rs2,696 crore to Rs9,436 crore. On a year-to-date basis this fiscal, net debt is down by Rs7,424 crore. Further, its consolidated net debt/Ebitda fell from 1.87 times to 0.84 times y-o-y. Ebitda is short for earnings before interest, tax depreciation and amortization.
25 Jan 2021, 10:00:20 AM IST
Sebi bowls a googly with bold ideas on exchange ownership
The Securities and Exchange Board of India (Sebi) has started the new decade with a bang. Early this year, the regulator issued a discussion paper, with proposals for ownership in stock exchanges that are revolutionary by Sebi’s standards. The paper envisages 100% ownership by a single entity in an exchange, to start with. This is a far cry from the thought process in the Bimal Jalan committee report issued about 10 years ago. (Full Report)
25 Jan 2021, 09:57:55 AM IST
Indices erase morning gains, slip into the red
At 0947am, the Sensex was down 263.05 points or 0.54% at 48,615.49, and the Nifty was down 85.20 points or 0.59% at 14,286.70. About 697 shares advanced, 1,455 declined, and 101 were unchanged.
25 Jan 2021, 09:47:54 AM IST
Market view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Even though the markets have opened in the green, a stiff resistance awaits the index at 14550-14600. We will resume the uptrend only if we can manage to get past that trading zone on the back of healthy volumes. Until then the Nifty seems nervous in the short term time frame with a downward bias. We can go down to 14000-14100 levels.
25 Jan 2021, 09:47:12 AM IST
Top gainers/losers on Nifty
25 Jan 2021, 09:38:18 AM IST
UltraTech Cement hit fresh high
The cement maker reported a consolidated net profit of ₹1,584 crore for the December ended quarter, up a sharp 122% year-on-year. Revenue from operations rose 17.4% to ₹12,254.12 crore.
25 Jan 2021, 09:34:41 AM IST
Aadhar Housing Finance said to plan $1 billion IPO filing soon
Aadhar Housing Finance Ltd., controlled by Blackstone Group Inc., plans to file a draft prospectus for its initial public offering in India as soon as this month, according to people familiar with the matter.
Aadhar, one of India’s largest mortgage providers to low-income earners, plans to raise as much as $1 billion from the share sale, the people said. The Mumbai-based company is looking to launch the offering as soon as the first half of this year, said the people, who asked not to be identified as the information is private.
25 Jan 2021, 09:31:20 AM IST
RIL worst hit stock on Sensex at this hour
Shares of Reliance Industries Ltd (RIL) have declined about 5% in the past six months compared with gains of about 30% in the Nifty 50 index. In the six months prior to that, RIL shares had risen more than 40%, while the Nifty had fallen 5%. One of the reasons the company’s shares have lost steam is that they had risen too high, too soon. Besides, financial performance lately hasn’t been as spectacular as some on the Street had hoped. (Full Report)
25 Jan 2021, 09:27:58 AM IST
Nifty in opening deals
25 Jan 2021, 09:20:56 AM IST
Sensex in opening deals
25 Jan 2021, 09:07:28 AM IST
Sensex stocks in pro-open trade
25 Jan 2021, 09:04:55 AM IST
Nifty in pre-opening
25 Jan 2021, 09:04:32 AM IST
Sensex in pre-open
25 Jan 2021, 08:48:08 AM IST
"...For Nifty, the important support to watch out would be 14222, below which the recent bullish structure will get distorted to extend the correction towards 14000 – 13800 levels. On the higher side, 14500 – 14632 would be seen as immediate hurdles...," Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
"...A decisive move below 14,220 could open a larger downward correction in the market and any rise from here is likely to attract selling pressure around 14,460-14,520 levels by next week," Nagaraj Shetti of HDFC Securities says.
25 Jan 2021, 08:41:27 AM IST
RBI plans stricter norms for NBFCs
The Reserve Bank of India (RBI) on Friday proposed to tighten rules for major non-bank lenders to prevent a collapse in one of them from affecting the financial system.
The regulator proposed to classify the non-banking financial companies (NBFCs) into four categories, depending on their systemic importance and potential risk to the stability of the financial system. (Full Report)
25 Jan 2021, 08:30:12 AM IST
Stove Kraft IPO opens today
The initial public offering of Stove Kraft, maker of kitchen appliances, opens today. It is the fourth company to launch IPO this month after Indian Railway Finance Corporation, Indigo Paints, and Home First Finance Company. The issue will close on 28 January 28.
Shares will be listed on both BSE and the National Stock Exchange. Edelweiss Financial Services and JM Financial are the book running lead managers to the offer.
Larsen & Toubro, Kotak Mahindra Bank, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine International, RPG Life Sciences, Sharda Cropchem and UCO Bank are among 41 companies that are scheduled to announce their quarterly earnings on 25 January.
25 Jan 2021, 08:07:46 AM IST
SGX Nifty suggests higher opening for Indian stock markets
SGX Nifty futures traded 116.05 points higher at 14,536.00, indicating a strong opening for Indian benchmarks.
On Friday, the S&P BSE Sensex declined 746.22 points to 48,878.54, while the Nifty50 index had slumped 218.50 points to 14,371.90.
25 Jan 2021, 08:03:03 AM IST
Asian equities falter as rising coronavirus cases sour risk appetite
Asian shares were on the defensive on Monday as rising covid-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed at 718.72.
The benchmark is below the record high of 727.31 touched last week but up 8.5% so far in January, on track for its fourth straight monthly rise.
Japan's Nikkei fell 0.1%.
25 Jan 2021, 07:56:29 AM IST
Wall Street closes mixed on Friday following underwhelming earnings
A gauge of stocks across the world slipped from record highs on Friday and the dollar edged up against a basket of peers as weak economic data and underwhelming earnings drove investors to reverse some recent risky bets.
In the US, the Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.
The three main US indexes closed higher for the week, with the Nasdaq up over 4%.