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Home >Markets >Live Blog >Amid sell-off, Sensex slumps 900 pts, Nifty closes below 14,000; banks worst hit
On Monday, Nifty fell 0.93% to 14,238 while the benchmark Sensex closed over 500 points lower at 48,347. (File Photo: Reuters)
On Monday, Nifty fell 0.93% to 14,238 while the benchmark Sensex closed over 500 points lower at 48,347. (File Photo: Reuters)

Amid sell-off, Sensex slumps 900 pts, Nifty closes below 14,000; banks worst hit

  • Sensex slipped below the crucial 48K level, touching a low of 47,269.60 points today. The Nifty moved in the range of 14,237.95-13,929.30. Axis Bank was the worst hit, down 4%. Metal, bank, auto, and pharma indices shed 2% each

Welcome to the Mint live blog. Track this space for the latest stock market updates.

27 Jan 2021, 03:52:41 PM IST

Sensex, Nifty slump nearly 2% each on selling in banks, metal stocks

Domestic benchmark indices ended in the red for the fourth consecutive session on Wednesday, amid sell-off in bank, auto, metal and pharma stocks.

At close, the Sensex was down 937.66 points or 1.94% at 47,409.93, while the Nifty fell 271.40 points or 1.91% to 13,967.50. About 1,053 shares advanced, 1,809 declined, and 141 were unchanged.

Tata Motors, Axis Bank, Tata Steel, GAIL, and Titan Company were among major losers on the Nifty, while Tech Mahindra, SBI Life Insurance, Wipro, ITC, and Power Grid Corp rose.

Except FMCG, all other sectoral indices ended in the red. Nifty Pharma and Nifty Auto indices also lost 2% each for the day.

BSE Midcap and Smallcap indices shed 0.5-1.3%.

Sensex stocks at close.
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Sensex stocks at close.
27 Jan 2021, 03:26:35 PM IST

Bank of Baroda reports PAT of ₹1,061 cr for Q3 vs loss of ₹1,407 cr YoY: ET Now

Bank of Baroda earnings.
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Bank of Baroda earnings.
27 Jan 2021, 03:15:44 PM IST

India VIX nearly 5% at 24.35

27 Jan 2021, 03:05:33 PM IST

Stove Kraft IPO subscribed 2 times on second day of bidding

27 Jan 2021, 03:03:17 PM IST

Dr. Reddy's terminates Covid-19 treatment study in Kuwait

Dr. Reddy's Laboratories and Global Response Aid FZCO on Wednesday said they have terminated their clinical trial in Kuwait of Fujifilm Holdings' Covid-19 treatment Avigan in patients with moderate to severe symptoms.

A late-stage North American trial of Avigan in patients with mild to moderate Covid-19 will continue, the drugmaker said in a regulatory filing.

27 Jan 2021, 03:01:27 PM IST

BCCI president Sourav Ganguly hospitalised again with discomfort in chest: PTI

27 Jan 2021, 02:52:56 PM IST

Cabinet approves MSP for copra

27 Jan 2021, 02:35:01 PM IST

Market extends losses

In the last four days, Sensex has lost over 2,500 points in a sell-off, which some analysts have attributed to pre-Budget nervousness and broader profit booking. The Nifty today tumbled over 2% to fall to as low as 13,929.30.

On the Sensex, banks and financial were the worst hit, with Axis Bank down over 4%.

S&P BSE MidCap and SmallCap indices fell 0.5% and 0.2%, respectively.

The Nifty Bank index was down over 1,000 points from the day's high.

Barring Nifty IT, all other sectoral indices were in the red, with Nifty Metal index, down 2%, the top loser.

27 Jan 2021, 02:28:27 PM IST

NALCO approves share buyback at ₹57.50 apiece via tender offer of up to 13.03 crore shares

27 Jan 2021, 02:21:38 PM IST

Sensex gainers/losers at this hour

Sensex stocks.
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Sensex stocks.
27 Jan 2021, 02:16:25 PM IST

Marico Q3 net profit up 13% YoY at Rs312 crore

Revenue up 16.3% at Rs2,122 crore, while Ebitda rose 10.7% to Rs413 crore.

27 Jan 2021, 02:09:23 PM IST

Sensex check

27 Jan 2021, 02:02:06 PM IST

Bharat Biotech’s Covaxin neutralises mutant coronavirus strain from UK: study

Bharat Biotech International’s covid-19 vaccine Covaxin can protect people against the new strain of novel coronavirus discovered in the UK, a pre-print of an in-vitro study conducted by the company showed.

The company had conducted a plaque reduction neutralization test (PRNT50) study, wherein it collected blood sera collected from the 26 individuals who had received Covaxin and tested them against the new UK strain as well as another strain of the virus that the company had tested before.

27 Jan 2021, 01:59:36 PM IST

PL 2021: Auction to be held in Chennai on 18 February

27 Jan 2021, 01:58:34 PM IST

European equities mixed in opening deals

European stock markets were narrowly mixed at the start of trading on Wednesday, with London's benchmark FTSE 100 index down 0.2% at 6,640.18 points.

Frankfurt's DAX 30 shed 0.3% to 13,827.31 points, while the Paris CAC 40 was a tad higher at 5,534.74.

27 Jan 2021, 01:54:54 PM IST

Nifty Bank tanks over 2%

27 Jan 2021, 01:52:33 PM IST

Nifty down 5% from record high of 14,753.55, hit on 21 Jan

27 Jan 2021, 01:50:57 PM IST

Janet Yellen sworn in as the first woman to head the US Treasury: Reuters

27 Jan 2021, 01:43:24 PM IST

Sri Lanka to procure 2-3 million doses of anti-COVID vaccine from India: PTI

27 Jan 2021, 01:39:20 PM IST

France's Sanofi to make vaccines from rival Pfizer-BioNTech: AP

French drug maker Sanofi said Wednesday it will help manufacture 125 million doses of the coronavirus vaccine developed by rivals Pfizer and BioNTech, while its own vaccine candidate faces delays.

The Germany-based BioNTech will initially produce the vaccines at Sanofi facilities in Frankfurt, starting in the summer, according to a Sanofi statement. The company did not reveal financial details of the agreement.

27 Jan 2021, 01:37:06 PM IST

Market check

BSE indices.
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BSE indices.
27 Jan 2021, 01:21:10 PM IST

Emami reports 44.6% YoY rise in Q3 profit to Rs209 cr: CNBC TV18

Emami Q3 numbers.
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Emami Q3 numbers.
27 Jan 2021, 01:19:35 PM IST

Tata, Axis and DSP Mutual Fund apply for NPS Pension Fund Manager licence

27 Jan 2021, 01:16:57 PM IST

Nifty FMCG up amid weakness in broader markets

Nifty FMCG index.
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Nifty FMCG index.
27 Jan 2021, 01:15:24 PM IST

Bitcoin prices extend fall amid selling by big investors

27 Jan 2021, 01:04:01 PM IST

Indian Railways to resume Mumbai suburban services with 204 extra trains: CNBC TV18

27 Jan 2021, 01:01:49 PM IST

Canara Bank reports Q3 PAT of Rs749 crore: ET-Now

Canara Bank Q3 earnings.
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Canara Bank Q3 earnings.
27 Jan 2021, 12:52:12 PM IST

Tata Elxsi, Syntiant tie up to provide low-power edge AI device development for voice applications: BSE filing

Tata Elxsi and Syntiant Corp. on Wednesday announced a collaboration to help manufacturers design and develop low-power, always-on voice applications across multiple product categories, such as smart home devices and consumer electronics, as well as industrial and automotive use cases.

27 Jan 2021, 12:48:34 PM IST

India Cement Q3 numbers

India Cements has reported a standalone net profit of 62 crore for the quarter ended December compared to a loss of 5.4 crore in the year-ago period. Revenue fell 2.6% year-on-year to 1,160 crore.

27 Jan 2021, 12:42:00 PM IST

Top gainers/losers on Nifty at this hour

Top Nifty stocks.
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Top Nifty stocks.
27 Jan 2021, 12:36:09 PM IST

Nifty Private Bank worst hit among sectoral indices

Nifty Private Bank.
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Nifty Private Bank.
27 Jan 2021, 12:30:43 PM IST

S&P revises Vedanta Resources outlook to stable from negative: ANI

S&P Global Ratings has said Vedanta Resources' higher ownership in Vedanta Ltd will support the company's ability to meet its debt maturities over the next 12-18 months.

Vedanta Resources has announced an open offer to acquire an additional 10% stake in its 55% owned subsidiary Vedanta Ltd.

"We anticipate the transaction which should conclude by March will strengthen the corporate structure of Vedanta Resources -- the holding company -- and improve its access to subsidiary-level cash and cash flow," said S&P.

27 Jan 2021, 12:27:28 PM IST

Bonds in India head for losses on govt's near-record debt sales

India is poised to sell a near-record amount of debt in the coming fiscal year, pressuring a sovereign bond market that’s increasingly worried about support from the central bank.

Prime Minister Narendra Modi’s government may announce a gross borrowing plan of Rs10.6 trillion ($145 billion) for the 12 months starting April in its budget announcement on Feb 1, according to a median forecast of 15 analysts surveyed by Bloomberg News. (Full Report)

27 Jan 2021, 12:25:37 PM IST

Market view

Pre-Budget nervousness has resulted in some unloading. Locking up of large sums in the recent IPOs have also led to this sell-off, HDFC Securities said.

27 Jan 2021, 12:23:08 PM IST

Sentiment in real estate space turns optimistic; expectations from Union Budget rise

In a first for 2020, India's real estate players turned optimistic during October-December quarter, according to Knight Frank-FICCI-NAREDCO quarterly survey. As per the report, the 'Current Sentiment Score' of the Real Estate Sentiment Index was at 54 points in Q4 2020. This was a significant jump of 14 points over the previous quarter.

27 Jan 2021, 12:12:04 PM IST

Emkay puts sell call sell on Yes Bank, target price at ₹11

"We believe that the transfer of NPAs to a separate ARC (somewhat similar to IDBI in 2003) probably means window dressing standalone bank B/sheet,but we need to see the extent of hair-cuts, structure of ARC and recovery record in the ARC, which is not inspiring in case of IDBI SASF," Emkay Research said in a note.

Yes Bank.
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Yes Bank.
27 Jan 2021, 12:07:48 PM IST

HDFC twins, RIL, Axis Bank lead decline on Sensex

Sensex contributors.
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Sensex contributors.
27 Jan 2021, 12:06:02 PM IST

Markets extend losses

At 1203pm, the Sensex was down 550.84 points or 1.14% at 47,796.75, while the Nifty fell 154.55 points or 1% to 14,098.10. About 1,018 shares advanced, 1,495 declined, and 109 were unchanged.

27 Jan 2021, 11:55:31 AM IST

Nifty slips below 14,100

Nifty movement.
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Nifty movement.
27 Jan 2021, 11:49:03 AM IST

India rupee trading near 72.86 a dollar vs 72.94 at open

27 Jan 2021, 11:47:21 AM IST

Sensex near day's low, down over 400 points

27 Jan 2021, 11:41:27 AM IST

TikTok to downsize India staff after government extends ban

The Indian government’s extension of the ban on short video platform TikTok in India has forced the platform to finally cut its staff numbers in the country. The downsizing begins from today.

The company’s interim head, Vanessa Pappas, sent a letter (which Mint has seen) to its India employees today informing them about the company’s plan. “As you can imagine, the magnitude of this decision is not easy," Pappas wrote in her letter. “For the last several months, our management team has worked tirelessly to avoid having to separate anyone from the company. We’ve cut expenses, while still paying benefits. However, we simply cannot responsibly stay fully staffed while our apps remain un-operational," she wrote.

27 Jan 2021, 11:30:38 AM IST

IMF expects Indian economy to post 11.5% GDP growth in FY22

27 Jan 2021, 11:24:38 AM IST

Future Retail tanks on concerns over RIL deal

US online retailer Amazon.com Inc has filed a petition in the Delhi High Court seeking detention of Future Group founders, including CEO Kishore Biyani, and seizure of their assets as it sought to block Future Group from selling retail assets to Reliance Industries.

Amazon has also asked the court to issue an injunction against Future Group, restraining the latter from relying on any no-objection letter by any authority and from issuing securities of FRL or obtaining any financing from Mukesh Ambani group or any other restricted party listed in the 19 December 2019 letter by FCPL to FRL. (Full Report)

Future Retail stock.
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Future Retail stock.
27 Jan 2021, 11:16:25 AM IST

Sterling and Wilson Solar commissions 25-MW solar energy project in Oman: BSE filing

Sterling and Wilson Solar on Wednesday said it has commissioned a 25-MW solar energy project in Oman.

"Sterling and Wilson Solar Ltd...has successfully commissioned its second project in Oman. The 25 MW solar project was awarded to SWSL by global energy company Shell," the company said in a regulatory filing.

27 Jan 2021, 11:12:06 AM IST

Gold prices fall

Gold and silver prices fell sharply in Indian markets on Wednesday amid weak global cues. On MCX, gold futures were down 0.6% to nearly a month low of 48,845, extending losses to the fourth day.

Silver futures on MCX also fell 0.6% to 66,130 per kg. Indian markets were closed on Tuesday for a public holiday.

Gold has come under pressure in recent days on concerns that US stimulus package could be delayed.

27 Jan 2021, 10:45:46 AM IST

Market view: Sameet Chavan, chief analyst-technical and derivatives, Angel Broking

The way charts look, the possibility of Nifty testing 14100-14000 level is quite high while 14360-14500 will likely to act as immediate hurdles.


We continue with our cautious stance on the market and as mentioned in the previous commentary, traders are advised to stay light on positions. Generally, market does not give any major trend reversal ahead of the mega event; but this time, it looks like we are going to witness yet another unprecedented behaviour of the market. Next couple of days would be quite crucial and would be interesting to see whether markets correct further or it shows some resilience to protect it’s crucial supports.

27 Jan 2021, 10:41:36 AM IST

Market check

BSE indices.
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BSE indices.
27 Jan 2021, 10:39:42 AM IST

IT firms set sights on large deals to boost revenue

Software services firms in India are hoping to win more large deals as they capitalize on growing adoption of digital technologies by corporates worldwide, following the business disruptions caused by the pandemic. (Full Report)

27 Jan 2021, 10:30:57 AM IST

Fitch assigns BBB-(EXP) rating to Adani Ports' proposed $500 mn bond issue

Fitch Ratings has assigned India-based port operator Adani Ports and Special Economic Zone Limited's (APSEZ, BBB-/Negative) proposed senior unsecured notes of up to $500 million an expected rating of 'BBB-(EXP)' with a negative outlook. The proposed bond is ranked pari passu with the company's existing US dollar bonds. The proceeds will be used primarily for refinancing the early redemption of APSEZ's dollar bond due 2022.

27 Jan 2021, 10:28:44 AM IST

India rupee opened at 72.94 to a dollar on Wednesday vs Monday's close of 72.95

27 Jan 2021, 10:23:35 AM IST

HUL shares under pressure

27 Jan 2021, 10:16:40 AM IST

Residential sales to hold fort for Oberoi Realty's earnings growth

Mumbai-focused developer Oberoi Realty Ltd saw its residential sales surge to a five-year high in the December quarter. New bookings rose more than two times on a year-on-year (y-o-y) basis, aided by pent-up demand and the stamp duty cut announced by the Maharashtra government. Sales improved for both under-construction and completed projects. The company reported new bookings worth Rs970 crore, up 220% y-o-y. (Full Report)

27 Jan 2021, 10:07:43 AM IST

Petrol price scale another record high, retailing at ₹86.30 per litre in Delhi

Retail priceS of petrol scaled a peak on Wednesday in Delhi, with oil marketing companies (OMCs) increasing pump prices by 25 paise a litre to Rs86.30. Diesel prices were also raised by 25 paise and sold for at 76.48 a litre.

27 Jan 2021, 09:58:04 AM IST

HUL Q3 earnings today: things to look out for

Fast-moving consumer goods (FMCG) company, Hindustan Unilever Ltd (HUL) will announce its December quarter results today. One of the main focus areas would be the extent of recovery in sales. “For HUL, we expect 6% organic revenue growth in the domestic FMCG business led by 5% UVG (organic)," says Kotak Institutional Equities in its consumer preview report. UVG is underlying volume growth. This would be an improvement on a sequential basis. In the September quarter, organic revenue growth was at 3%.

Even so, reported growth would look far better owing to the GSK CH merger. For perspective, HUL’s overall revenues had increased by 16% year-on-year during the September quarter. Including the impact of the merger, analysts expect year-on-year HUL’s revenue growth for the December quarter to be in high teens. (Full Report)

27 Jan 2021, 09:55:45 AM IST

Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

14250 was a medium term support for the index which was pierced on Monday. This makes the Nifty vulnerable and we can go down to 13950 as a possible target. If we are unable to hold that level, we could fall further to 13600. On the upside, the resistance is at 14550-14600 and until we do not close above that zone, we will continue to remain in the grip of the bears.

27 Jan 2021, 09:46:39 AM IST

RIL worst hit stock on Sensex at this hour

RIL share quote.
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RIL share quote.
27 Jan 2021, 09:38:28 AM IST

India GDP to contract 8% in FY21: Ficci survey

The Indian economy is expected to shrink 8% in fiscal 2020-21, according to FICCI's Economic Outlook Survey.

The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January.

The median growth forecast for agriculture and allied activities has been pegged at 3.5% for 2020-21.

27 Jan 2021, 09:33:05 AM IST

Axis Bank down ahead of December quarter results

Axis Bank stock quote.
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Axis Bank stock quote.
27 Jan 2021, 09:31:23 AM IST

Most sectoral indices in the red

NSE sectoral indices.
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NSE sectoral indices.
27 Jan 2021, 09:21:48 AM IST

Sensex stocks in opening deals

Sensex stocks
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Sensex stocks
27 Jan 2021, 09:19:42 AM IST

Markets lower in opening deals

At open, the Sensex was down 280.96 points or 0.58% at 48,066.63, and the Nifty fell 81 points or 0.57% to 14,157.90. About 526 shares advanced, 586 shares declined, and 88 shares were unchanged.

27 Jan 2021, 09:11:23 AM IST

Market check at pre-open

markets
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markets
27 Jan 2021, 09:08:46 AM IST

Top gainers/losers on Sensex at pre-open

Sensex stocks at pre-open on 27 January.
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Sensex stocks at pre-open on 27 January.
27 Jan 2021, 09:06:13 AM IST

Markets at pre-open

Benchmark indices rose in the pre-opening session.

At 0902am, the Sensex was up 88.19 points or 0.18% at 48,435.78, while the Nifty was up 198.60 points or 1.39% at 14,437.50.

27 Jan 2021, 08:56:17 AM IST

Nifty view: Shrikant Chouhan, executive vice president, equity technical research at Kotak Securities

"The Nifty 50 index is heading for 14100/13900 levels, (BSE Sensex 48100/47500), if it breaks 14200 (BSE Sensex 48400) decisively. On the higher side 14350/49000 and 14500/49400 would be crucial levels to surpass and sustain."

27 Jan 2021, 08:52:40 AM IST

Crude oil price check

Oil prices climbed on Wednesday after industry data showed that US crude stockpiles fell unexpectedly last week and China, the world's second-biggest oil user, reported its lowest daily rise in covid-19 cases, bolstering hopes of a pick-up in demand.

U.S. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $52.71 a barrel, reversing some of Tuesday's loss.

Brent crude futures climbed 11 cents, or 0.2%, to $56.02 a barrel, adding to a small gain on Tuesday.

27 Jan 2021, 08:29:25 AM IST

Stocks to Watch

Shares of auto companies, HUL, Axis Bank, TCS, L&T will be in focus today.

Axis Bank, Hindustan Unilever, Bank of Baroda, Canara Bank, Marico, ICICI Prudential Life Insurance, PNB Housing Finance, Tata Coffee, United Spirits, Welspun India, are among the 50 companies scheduled to release their Q3 numbers today.

27 Jan 2021, 08:28:23 AM IST

SGX Nifty futures down; domestic benchmarks may see weak opening

SGX Nifty futures traded 106 points lower in Asian deals.

On Monday, Sensex fell 530.95 points or 1.09% to close at 48,347.59 while the Nifty50 declined 133 points or 0.93% to close at 14,238.90.

27 Jan 2021, 08:25:15 AM IST

Asian equities subdued on tepid investor sentiment

Asian stocks drifted lower Wednesday after their biggest slide in two months as investors mulled a slew of earnings reports amid worries over virus variants and hurdles to stimulus.

Stocks erased earlier gains across much of the region. Japan and South Korea pared advanced, while Australia underperformed as it reopened after a holiday. Nasdaq 100 contracts jumped following a strong earnings report from Microsoft Corp. S&P 500 futures fluctuated after the benchmark ended an up-and-down session slightly lower.

Topix index rose 0.2%.

Australia’s S&P/ASX 200 Index fell 0.9%.

Kospi index rose 0.3%.

Hong Kong’s Hang Seng Index fell 0.6%.

Shanghai Composite Index fell 0.3%.

27 Jan 2021, 08:23:27 AM IST

Wall Street stocks close lower as market eyes US Fed meeting

Equities slipped from record levels on Tuesday, with investors cautious as the Federal Reserve kicked off its two-day policy meeting and U.S. lawmakers continued to debate a new stimulus plan.

The Dow Jones Industrial Average fell 22.96 points, or 0.07%, to 30,937.04, the S&P 500 lost 5.74 points, or 0.15%, to 3,849.62 and the Nasdaq Composite dropped 9.93 points, or 0.07%, to 13,626.07.

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