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Sensex ends 361 pts lower, Nifty at 17,532; realty top drag; PSU banks surge

Market Closing: Sensex, Nifty closed over 0.48% lower on Friday. (REUTERS)Premium
Market Closing: Sensex, Nifty closed over 0.48% lower on Friday. (REUTERS)

Market Closing: The Sensex closed at 58,765.58, down 360.78 points, or 0.61%, while Nifty was at 17,532.05, down 86.10 points, or 0.49%. Pharma, media and metals closed in green. Banks, financials, and IT were top drags.

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Key Indian indices were down over 0.49% on Friday. The September PMI manufacturing figure stood at 53.7, marginally higher than the August figure of 52.8. Maruti Suzuki, Ashok Leyland, and Escorts Ltd reported lower than expected sales in September. 

01 Oct 2021, 04:06:36 PM IST

Market closing quote: Gaurav Udani, CEO & founder, ThincRedBlu Securities

"After a gap down , nifty traded in a sideways range. It has resistance in 17580-17620 range and support in 17250-17300 range. Traders need to watch these levels very closely. A break in any direction may cause a 150-200 points movement very quickly. Overall trend in Nifty remains bullish as long as it trades above 17250."

01 Oct 2021, 03:49:59 PM IST

Rupee rises 11 paise to close at 74.12 (provisional) against US dollar

01 Oct 2021, 03:42:10 PM IST

Market closing

The Sensex closed at 58,765.58, down 360.78 points, or 0.61%, while Nifty was at 17,532.05, down 86.10 points, or 0.49%. Pharma, media and metals closed in green. Banks, financials, and IT were top drags. On the 30 share Sensex, Bajaj Finserv, Maruti, Asian Paints, and 16 other stocks closed in red, while M&M, Dr Reddy's, UltraTech, and eight other stocks closed in green.

Sensex at close
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Sensex at close
01 Oct 2021, 03:30:52 PM IST

Indian Energy Exchange Says Traded 8,997 MU Electricity Volume

01 Oct 2021, 03:30:30 PM IST

Shah approves release of ₹7,274 cr to 23 states as central share of SDRF

The Centre has approved release of the second installment of its share of the State Disaster Response Fund (SDRF) amounting to 7,274.40 crore, in advance, to 23 states. The decision has been taken by Union Home Minister Amit Shah as part of the Modi government's initiative to facilitate state governments to have enough funds in their SDRF to deal with any emergency arising out of any disaster. According to a Union home ministry statement, five states have already been released in advance the second installment amounting to 1,599.20 crore. (PTI)

01 Oct 2021, 03:29:54 PM IST

Ashiana Housing buys 16-acre land in Chennai from Mahindra Lifespaces; eyes ₹600 cr revenue

Realty firm Ashiana Housing has acquired nearly 16 acres of land from Mahindra Lifespace Developers in Chennai to develop a senior living housing project with an expected sales revenue of over 600 crore in the next six years, a top company official said. In a regulatory filing, the Delhi-based firm on Thursday said the company has "acquired a piece of land measuring 15.64 acres on perpetual lease basis from Mahindra Lifespaces within the township of Mahindra World City at Chennai (Tamil Nadu)". The company proposes to develop a senior living project on this land. Ashiana Housing did not disclose the value of the deal.

01 Oct 2021, 03:29:24 PM IST

Bajaj Housing Finance cuts home loan rate by 5 bps to 6.7%

Bajaj Housing Finance Ltd, a wholly-owned subsidiary of Bajaj Finance Ltd, on Friday said it has cut its home loan rate by 5 basis points (bps) to 6.7% per annum for salaried and professional applicants. Applicants with a good credit, income, and employment profile can save substantially by availing of this new interest rate, it said, adding that customers with an existing home loan can also avail of the new rate by opting for a home loan balance transfer.

01 Oct 2021, 03:27:51 PM IST

PFRDA accords approval to Tata Asset and Max Life for setting up pension funds

Tata Asset Management and Max Life Insurance Co have recently received a nod from the pension sector regulator for setting up pension fund managers, PFRDA Chairperson Supratim Bandyopadhyay said on Friday. "We had received two (proposals)...our board has approved both. They will take around six months to set up their pension funds. One is promoted by Tata AMC, so that is coming from the mutual fund sector, the other one will be promoted by Max Life Insurance that is strong life insurance company," he said while addressing the media on NPS Diwas. The Pension Fund Regulatory and Development Authority (PFRDA) in July had opened 'on tap' registration of pension fund managers. (PTI)

01 Oct 2021, 03:27:12 PM IST

HDFC twins, ICICI Bank top Sensex drags

Index contribution
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Index contribution
01 Oct 2021, 03:24:31 PM IST

TVS Motor sells 347,156 units in September 

TVS Motor reported total sale of 347,156 in September compared with 327,692 units in the year-ago period. The company had sold 290,690 in the month-ago period, according to a report. The results beat estimates.

 

01 Oct 2021, 03:13:40 PM IST

Chadha Papers says Mohit Agarwal tendered resignation as CFO

01 Oct 2021, 03:12:07 PM IST

Indusind Bank says approved Gobind Jain as CFO

01 Oct 2021, 03:10:49 PM IST

Shah approves release of ₹7,274 cr to 23 states as central share of SDRF

The Centre has approved release of the second instalment of its share of the State Disaster Response Fund (SDRF) amounting to 7,274.40 crore, in advance, to 23 states. The decision has been taken by Union home minister Amit Shah as part of the Modi government's initiative to facilitate state governments to have enough funds in their SDRF to deal with any emergency arising out of any disaster. According to a Union home ministry statement, five states have already been released in advance the second installment amounting to 1,599.20 crore. (PTI)

01 Oct 2021, 03:04:24 PM IST

CEOs to govts: Rise above geopolitical tensions, protectionism for trade reforms

Governments across the world must rise above geopolitical tensions to re-engage on trade reforms while refraining from protectionism, a group of nearly 30 CEOs said in a joint call to action on Friday. The group of CEOs and chairpersons from some of the world's biggest companies spread across 17 countries, brought together by the World Economic Forum (WEF), said the trading system must adapt to address new concerns of global resiliency, sustainability and inclusivity. The signatories included Mastercard's Ajay S Banga, John Keells Holdings' Krishan N Balendra, Zilingo Pte Ltd's Ankiti Bose, Dolf van den Brink of HEINEKEN NV, Al Kelly Jr of Visa Inc, Schneider Electric's Jean-Pascal Tricroire, Standard Chartered Bank's Jose Vinals and Noel Quinn of HSBC Holdings Plc. (PTI)

01 Oct 2021, 02:58:01 PM IST

Hyundai sales fall 24 pc in September

Hyundai Motor India Ltd (HMIL) on Friday reported 23.6% decline in total sales at 45,791 units in September. The company had sold 59,913 units in the same month last year, HMIL said in a statement. Domestic sales were down 34.2% to 33,087 units as against 50,313 units in September 2020, the company added. Exports increased 34.3% to 12,704 units as compared with 9,600 units in September last year. The global semi-conductor supply constraint has adversely affected the vehicle production resulting in low dispatches in September 2021, the company stated. (PTI)

01 Oct 2021, 02:56:20 PM IST

ZEEL expresses inability to hold EGM

Zee's board has concluded that the requisition for Extraordinary General Meeting (EGM) is invalid and illegal. It has conveyed its inability to convene the meeting  to Invesco Developing Markets Funds and OFI Global China Fund, LLC.

01 Oct 2021, 02:46:52 PM IST

M&M farm equipment unit’s domestic sales touch 39,053 in Sept

Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES), part of the Mahindra Group, on Friday announced its tractor sales numbers for September 2021. Domestic sales in September 2021 were at 39,053 units, as against 42,361 units during September 2020. Total tractor sales (Domestic + Exports) during September 2021 were at 40,331 units, as against 43,386 units for the same period last year, according to a regulatory filing. Exports for the month stood at 1278 units.

01 Oct 2021, 02:34:41 PM IST

Sensex heatmap

M&M, Dr Reddy's top gainers.
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M&M, Dr Reddy's top gainers.
01 Oct 2021, 02:30:44 PM IST

Mahindra Auto sells 28112 vehicles in September 2021; Exports up 61%

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, on Friday announced that its overall auto sales (passenger vehicles+commercial vehicles+exports) for September stood at 28,112 vehicles. In the utility vehicles segment, Mahindra sold 12,863 vehicles in September 2021, the company said in a regulatory filing. The passenger vehicles segment (which includes UVs, Cars and Vans) sold 13,134 vehicles in September 2021. Exports for September were at 2,529 vehicles.

01 Oct 2021, 02:19:38 PM IST

S&P Global Platts Analytics: JKM LNG benchmark hits record high on global gas supply tightness, winter demand

Spot Asia-Pacific LNG prices hit a record high on 30 September on persistent supply constraints in global gas markets and strong winter restocking demand among Asian end-users. The S&P Global Platts JKM for November was assessed $2.82/MMBtu higher day on day at $34.47/MMBtu on 30 September. This is the highest level for the LNG benchmark for Asian spot LNG since it was launched in early 2009. LNG prices in the region continued to be supported by robust European gas hub prices and intense portfolio optimization activity by international LNG suppliers, according to industry participants. Lower winter temperatures forecast in China and South Korea, as well as concerns over a power shortage in China were sparking spot demand for winter cargoes by end-users.

01 Oct 2021, 02:13:01 PM IST

Sensex remains below 59K

Sensex till 14:00 hrs.
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Sensex till 14:00 hrs.
01 Oct 2021, 02:13:01 PM IST

Mphasis, HCL tech top drags

Nifty IT index
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Nifty IT index
01 Oct 2021, 02:00:15 PM IST

Zoom, Five9 to terminate nearly $15 billion all-stock deal after shareholder vote

Five9 Inc shareholders voted down the call center software firm's $14.7 billion sale to Zoom Video Communications Inc on Thursday, a major blow to Zoom's plan to expand its offerings following its pandemic boom. The termination of what would have been Zoom's biggest-ever acquisition comes after proxy advisory firm Institutional Shareholder Services (ISS) and Glass Lewis earlier this month recommended that Five9 shareholders vote against the deal, citing growth concerns and dual-class shares. (Reuters)

01 Oct 2021, 01:55:34 PM IST

Serum Institute to boost vaccine exports gradually: report 

The Serum Institute of India, which produces the AstraZeneca covid-19 vaccine, will resume small exports via the global vaccine-sharing platform COVAX this month and raise it substantially by January, its head told The Telegraph. "Our exports to COVAX will recommence again in October, initially these supplies will be small but by January 2022, once we have satisfied domestic demands – people forget that India is still a lower-middle income country–we will see large volumes go to COVAX," chief executive Adar Poonawalla said. 

01 Oct 2021, 01:46:32 PM IST

MG Motor India reports 28% rise in retail sales in Sept

MG Motor India on Friday reported 28% increase in retail sales at 3,241 units in September 2021 despite facing production challenges due to semiconductor shortage. The company had retailed 2,537 units in the same month last year, MG Motor India said in a statement. In September, the company's electric SUV ZS EV witnessed higher demand 600-plus bookings, it added. (PTI)

01 Oct 2021, 01:40:07 PM IST

K. Rajaraman takes charge as telecom secretary

Tamil Nadu cadre IAS officer K. Rajaraman on Friday took charge as the new telecom secretary. His joining comes following the superannuation of Anshu Prakash on 30 September. "Shri K. Rajaraman, IAS (TN:89) takes charge as Secretary, @DoT_India in presence of senior officials of the department," a PIB tweet said. He was serving as the additional secretary for investments at the Department of Economic Affairs before being promoted to the position of secretary, DoT. (PTI)

01 Oct 2021, 01:38:04 PM IST

India's power consumption rose 1.83% in September

India's power consumption grew 1.83% in September to 114.49 billion units (BU), showing subdued recovery according to power ministry data. In the entire month of September last year, the power consumption was 112.43 BU, higher than 107.51 BU in the same month in 2019, according to a report.

01 Oct 2021, 01:32:08 PM IST

Singapore central bank to roll out digital platform to fight money laundering

Singapore's central bank announced plans on Friday to introduce a digital platform that will enable banks to share information on customers and transactions, part of efforts to prevent money laundering and terrorism financing. The platform is co-created by the Monetary Authority of Singapore (MAS) and six major commercial banks in the city-state—DBS Group, Overseas-Chinese Banking Corp, United Overseas Bank, Standard Chartered Bank, Citibank and HSBC, an MAS statement said. (reuters)

01 Oct 2021, 01:27:13 PM IST

Skoda Auto India posts over two-fold rise in sales at 3,027 units in Sep

Skoda Auto India on Friday reported an over two-fold increase in sales at 3,027 units in September 2021, riding on its newly launched SUV Kushaq. The company had sold 1,312 units in the same month last year, Skoda Auto India said in a statement. While Kushaq has fuelled the growth for the brand in India, other models such as Superb, Octavia and Rapid have also contributed to the increase in sales volumes, it added. The company had launched the midsize SUV Kushaq in June priced between 10.5 lakh and 17.6 lakh (ex-showroom Delhi). (PTI)

01 Oct 2021, 01:23:37 PM IST

Govt denies AI bid approval

01 Oct 2021, 01:20:14 PM IST

DoT slaps ₹3,050 cr penalty on Airtel, VIL; Airtel to approach court

The Department of Telecom (DoT) has slapped a penalty of 2,000 crore on Vodafone Idea and 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. (PTI)

01 Oct 2021, 01:16:49 PM IST

HDFC Bank denies allegations by whistleblower of not flagging forgery to authorities

Private sector lender HDFC Bank Ltd has on Friday denied allegations that it didn't report fake loan applications to law enforcement authorities after charging processing fee from such customers. The bank levied a fee to deter customers who submitted forged documents to obtain loans instead of reporting them to law enforcement, a whistleblower alleged in his complaint to the Reserve Bank of India. (Read here)

01 Oct 2021, 01:11:27 PM IST

This multibagger stock has surged over 140% this year. Emkay has 'Buy'

Shares of IT service provider Persistent Systems have given multibagger returns as it has surged over 140% this year (year-to-date) so far whereas, the IT scrip has gained nearly 180% in a year's period. Brokerage and research firm Emkay has a ‘Buy’ rating on the multibagger stock. (Read here)

01 Oct 2021, 01:03:05 PM IST

Nordwin Gaming completes acquisition of OML gaming biz, live IPs

Nodwin Gaming Pvt. Ltd., a material subsidiary of Nazara, has completed the acquisition of gaming business and live IPs from OML Entertainment Pvt. Lt(OML) and paid cash consideration of 73 crore on 30 September 2021. The acquisition was done as per the terms of the 'Agreement to sell' dated 17 September 2021, which was executed between the Nodwin, OML and Mr. Ajay Nair, managing director of OML, the company said in a regulatory filing.

01 Oct 2021, 12:56:54 PM IST

Former Ford India president Anurag Mehrotra is joining Tata Motors’ CV biz as vice president-international business strategy. SVP

Anurag Mehrotra
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Anurag Mehrotra (REUTERS)
01 Oct 2021, 12:46:47 PM IST

Sony to bid for Indian Premier League rights as part of Zee Merger

Potential rivals for IPL rights may include Disney, Facebook, Amazon and reliance, Reuters has reported citing media.

01 Oct 2021, 12:42:37 PM IST

SAIL raises prices of long, flat products by up to ₹2,000 per tonne from 1 Oct: report

01 Oct 2021, 12:37:23 PM IST

Ambuja Cements starts commercial production of clinker and cement

Ambuja Cements,which was formerly known as Gujarat Ambuja Cement Limited and currently is a major cement producing company in India, has started commercial production of clinker and cement. The initiative was launched on 30 September at its newly commissioned Marwar Greenfield Project in Nagaur District, in Rajasthan, according to a report.

01 Oct 2021, 12:34:07 PM IST

Amazon bolsters delivery, fulfillment network ahead of festival season

Amazon India has bolstered its infrastructure across fulfilment centres, in-city delivery stations and Fresh centres ahead of the festival season. It has created over 110,000 seasonal job opportunities across its operations network, to strengthen its fulfilment and delivery capabilities to meet the anticipated surge in customer demand during the festival sale season. (Read here)

01 Oct 2021, 12:26:06 PM IST

Ashok Leyland reports September sale of 9,533 units

Chennai-headquartered Indian multinational automotive manufacturer Ashok Leyland on Friday reported total sale of 9,533 units in September, a year-on-year increase of 14% from 8,332 units in the year-ago period. It sold 5,060 medium and heavy commercial vehicles and 4,473 light commercial vehicles.

01 Oct 2021, 12:17:57 PM IST

Maruti Suzuki sales: Milan Desai, Lead Equity Analyst, Angel One Ltd

“Maruti Suzuki’s Sep’21 numbers have posted a sharp decline as called out by the management earlier owing to shortage of semiconductors which has constrained supply of electronic components. The total sales stood at 86,380 units for the month (-34% MoM / -46% YoY). The total domestic PV sales were down 57% YoY/39% MoM to 63,111 units. As a result of the shortage of components, the decline was more prominent in mid-size and compact segments which declined by ~54% each on MoM basis while the decline in other PV segments was slightly lower than that of mid-size and compact. Total Domestic sales, incl. LCV and sales to other OEMs were down by 37.5% MoM to 68,815 units. Among the Auto space, we remain positive on PV space given the high wait periods and strong demand conditions."

 

01 Oct 2021, 12:11:08 PM IST

Global update: Heena Naik, Research Analyst - Currency, Angel One Ltd

# China's factory activity unexpectedly shrank in September, but services returned to expansion as COVID-19 outbreaks receded.

# Electricity prices in France are expected to rise around 12% by February highlighting inflationary pressures sweeping across Europe. 

# Chinese banks will be closed in observance of National Day. 

# According to the IMF, the U.S. dollar’s share of currency reserves was steady at 59.2% in the second quarter, compared with 59.5% in the first three months of the year. 

#As per reports, China was prepared to buy more oil and other energy supplies to meet growing demand offset price pressure from an unexpected rise in U.S. crude inventories and a strong dollar.

#India’s current account balance posted a surplus of $6.5 billion in Q1FY22 as against a deficit of $8.1 billion in Q4FY21. The surplus was due to contraction in the trade deficit for goods and increase in net services receipts. 

#The markets will be in high anticipation of next week's Nonfarm Payrolls event that is expected to cement the case for the Federal Reserve to announce its tapering at the November meeting.

01 Oct 2021, 12:05:33 PM IST

Sensex at noon

Sensex
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Sensex
01 Oct 2021, 12:05:33 PM IST

Financials, realty top drags

Nifty sectoral indices
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Nifty sectoral indices
01 Oct 2021, 12:01:34 PM IST

Tata set to take over Air India again

01 Oct 2021, 12:01:35 PM IST

₹1.17 trillion GST collected in Sept

01 Oct 2021, 11:57:22 AM IST

GMR Infra share hits 52-week high

GMR Infrastructure share price today surged 6 per cent hitting its new 52-week high of 40.75 apiece. The infrastructure stock today opened lower by 0.05 per equity share but soon gained momentum and hit intraday high making new 52-week high of 40.75 per stock levels. (Read here)

01 Oct 2021, 11:52:44 AM IST

Escorts Sept sales: Milan Desai, Lead Equity Analyst, Angel Broking

“Escorts Ltd has reported a lower than expected MoM increase in domestic tractor sales for Sep’21. The domestic volumes grew 62.1% MoM to 7,975 units while Exports have been up 8.8% to 841 units. Owing to the higher base the domestic volumes have declined by -30.4% YoY, which is along the expected lines, and we expect industry volumes to continue the declining trajectory for FY22. As per the company above normal rainfall in September has delayed harvesting in some parts of the country resulting in a two-to-four-week delay in the onset of the festive season demand. We currently have a Neutral view on the stock."

 

01 Oct 2021, 11:46:49 AM IST

Bajaj Sept Sales: Milan Desai, lead equity analyst, Angel Broking

“Bajaj Auto monthly sales have come in ahead of expectations. The company reported total monthly sales of 4,02,021units for Sep’21, down by ~9%YoY and up by 7.7% MoM. Domestic sales came at 1,92,348 units were down 16% YoY but up 11.4% MoM while Exports were up 4.5% MoM (-1.4% YoY). Domestic CVs (3Ws) nearly doubles on YoY to 18,403 units (+25.8% MoM) while exports declined by 17% YoY to 22,582 units (+11% MoM). The festive season is expected to provide some support to the lagging domestic 2W sales while Bajaj does stand to benefit on account of its strong exports. We currently have a neutral rating Bajaj Auto."

01 Oct 2021, 11:43:12 AM IST

Prestige, Oberoi realty top drags

Nifty realty index
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Nifty realty index
01 Oct 2021, 11:36:49 AM IST

Oyo files for IPO to raise over ₹8,000 crore

Hotel-booking startup Oyo Hotels & Homes filed a draft prospectus on Thursday for an 84.3 billion rupee ($1.1 billion) initial public offering, joining the rush of technology unicorns seeking a listing on Indian stock exchanges after a world-beating stock rally. The SoftBank Group Corp. and Airbnb Inc.-backed firm plans to raise 70 billion rupees through the sale of new shares, according to the filing. (Read here)

01 Oct 2021, 11:29:43 AM IST

Delta Corp. posts three-year high

The shares of Delta Corp. rose to 287.70 —a three-year high—after they rallied 9% on the NSE in intra-day trade on Friday. The stock, on Friday, was included in the derivatives segment. The stock's price has risen 52% compared with a 2.3% rise in the Nifty50 index.

01 Oct 2021, 11:26:27 AM IST

Nissan to settle US investor claims over Ghosn’s compensation

01 Oct 2021, 11:14:44 AM IST

Nissan reports over three-fold increase in domestic sales in September

Automaker Nissan India on Friday said its domestic wholesales rose over three fold to 2,816 units in September, up from 780 units in the same month of last year. The company said its exports last month stood at 5,900 units, compared with 211 units in September 2020. In the first half of the current financial year, the automaker said it has achieved domestic wholesales of 18,591 units with a growth of 459% over last year. In exports, the company has achieved sales of 18,608 units in the first half of this financial year with 159% growth over last year, it added. (PTI)

01 Oct 2021, 11:10:53 AM IST

Pharma, metal, media in green

Nifty
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Nifty
01 Oct 2021, 10:52:53 AM IST

Tata Group wins Air India bid: Bloomberg

01 Oct 2021, 10:50:02 AM IST

VST announces strategic investment in Monarch Tractor

VST Tillers Tractors Limited (VST) has announced a strategic investment in US-based Monarch Tractor, maker of the world’s first fully electric, driver-optional smart tractor. The two companies recently announced a technical partnership for the development of hardware for the first series of Monarch Tractors. The investment by VST will help accelerate Monarch’s expansion and growth plans for the India and Asia market.

01 Oct 2021, 10:34:04 AM IST

Factory orders and output expand at quicker rates in September

The recovery of the Indian manufacturing industry was extended to September, as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions. With sales rising at a stronger rate, firms scaled up production and purchased additional inputs. There was also a faster upturn in international sales and an improvement in business confidence. Rising from 52.3 in August to 53.7 in September, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) highlighted a stronger expansion in overall business conditions across the sector. For the second quarter of fiscal year 2021/22, the PMI averaged 53.8, a sizeable improvement from 51.5 in the opening quarter.

IHS Markit
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IHS Markit
01 Oct 2021, 10:29:54 AM IST

Rupee declies 12 paise

01 Oct 2021, 10:25:22 AM IST

BVG India files draft papers to raise funds via IPO

BVG India Ltd, India's largest pure-play facility management player, has filed a draft red herring prospectus with Securities Exchange Board Of India to raise funds via initial public offering. The IPO of the Bharat Vikas Group company, which is backed by UK private equity major 3i Group, consists of a fresh issue of 200 crore and an offer for sale of upto 7.20 million shares by its existing shareholders and promoters.

01 Oct 2021, 10:23:42 AM IST

After petrol, diesel & LPG, piped natural gas may get dearer

When the price of natural gas is revised today from to the current $1.79 per million British thermal unit (mBtu) to $3.15 per mBtu, an increase of 76%, customers may have to pay a higher price for compressed natural gas (CNG) and piped natural gas (PNG or cooking gas) as city gas distribution companies are expected to increase prices by 10%, according to analysts.

01 Oct 2021, 10:17:35 AM IST

Commercial LPG cylinders to cost more

Petroleum companies increase price of commercial LPG cylinders by 43. Price of a 19 kg commercial cylinder in Delhi now 1736.50. On Sept 1st, price of commercial LPG cylinder was increased by 75. New rates effective from today. No change in domestic LPG cylinder rates. (ANI)

01 Oct 2021, 10:10:35 AM IST

Singapore grants crypto licenses to DBS, Australian Exchange

Singapore granted licences to DBS Bank Ltd and Australian cryptocurrency exchange Independent Reserve to offer digital payment token services, building on the city-state’s status as a crypto hub. DBS Vickers, the brokerage arm of DBS Bank, received formal approval from the Monetary Authority of Singapore to provide digital payment token services as a major payment institution, it said in a statement on Friday. Australia’s Independent Reserve also received the same license, it said in a separate statement. (Bloomberg)

01 Oct 2021, 10:05:31 AM IST

Paras Defence surges 171% in opening

Shares of Paras Defence & Space Technologies Ltd opened 171% higher on Friday after its initial public offering became the most subscribed issue so far the year last month. The stock opened at 475 on BSE from its issue price of 175 a share. It touched a high of 498.75 in intra-day or rose as much as 185%. At 10.05 am, the scrip was trading at 498.75, up 185%.

01 Oct 2021, 09:58:46 AM IST

India reports 26,727 new covid cases

01 Oct 2021, 09:42:33 AM IST

Bajaj twins top drags

Nifty financials index
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Nifty financials index
01 Oct 2021, 09:32:53 AM IST

HDFC twins, ICICI Banks top Sensex drags

Index contribution
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Index contribution
01 Oct 2021, 09:29:04 AM IST

Banks, financials top drags

Nifty sectoral indices
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Nifty sectoral indices
01 Oct 2021, 09:29:05 AM IST

Maruti Suzuki trades lower

Maruti Suzuki's stock was trading at 7,184.50 apiece,  down 2.05%, at 9:28 am.  The country's top carmaker on Thursday said it expects total vehicle production volume in October at two of its plants – Haryana and Gujarat – to be around 60% of normal levels due to a shortage of semiconductors. It also plans to junk diesel engines, according to media reports.

01 Oct 2021, 09:24:33 AM IST

Market opening

The Sensex opened at 58,889.77, down 236.59 points, or 0.40%, while Nifty was at 17,531.90, down 86.25 points, or 0.49%. All sectors opened in red. On the 30-share Sensex, Maruti Suzuki, Dr Reddy's, Tata Steel, and 19 other stocks opened in red, while Titan, Power Grid, UltraTech, and four other stocks opened in green.

Sensex at open
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Sensex at open
01 Oct 2021, 09:11:21 AM IST

Pre market opening

At pre market opening, the Sensex was at 58,889.48, down 236.88 points, or 0.40%, while Nifty was at 17,618.15, down 93.15, or 0.53%. 

Sensex at pre open
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Sensex at pre open
01 Oct 2021, 09:11:21 AM IST

IRCTC fixes record date for stock split

Indian Railway Catering & Tourism Corporation (IRCTC) has announced the record date for its proposed stock split. The company has set 29 October 2021 as its record date for sub-division of equity shares of 10 each into five equity shares of 2 each. (Read here)

01 Oct 2021, 09:05:51 AM IST

Maruti Suzuki junks diesel plans, accelerates green drive: Report

Maruti Suzuki has junked its diesel plans and accelerated its green drive owing to the shift of consumer preference towards petrol, Reuters reported citing media reports.

01 Oct 2021, 08:57:43 AM IST

Pre-market opening quote: Gaurav Udani, CEO & Founder, ThincRedBlu Securities

"Nifty is expected to open negative at 17430 , down by almost 200 points. Nifty is opening below its support, this is a bearish sign. Nifty now has support in the 17250-17300 range and will face resistance in the 17600-17620 range. Traders can consider buy on dips with strict stop-loss as a strategy as long as Nifty is trading above 17250."

01 Oct 2021, 08:48:50 AM IST

Petrol price raised by 24-25 paise, diesel by 30-32 paise: Report

Petrol price has been increased by 24-25 paise and diesel by 30-32 paise on Friday. Petrol price in Delhi is 101.89 and diesel at 90.17 per litre, according to a report. In Mumbai, petrol is at 107.95 and diesel at 97.84 per litre, it added. Also, Jet fuel (ATF) price hiked by 3,972.94 to 72,582.16/kL in Delhi

01 Oct 2021, 08:44:43 AM IST

Asian factories stagnate as China's slowdown, supply constraints hit

Asia's manufacturing activity was lacklustre in September as signs of slowing Chinese growth and factory shutdowns caused by the coronavirus pandemic weighed on the region's economies, surveys showed on Friday. Factory activity in September shrank in Malaysia and Vietnam, and grew in Japan at the slowest rate in seven months, as chip shortages and supply disruptions added to the woes of a region still struggling to shake off the pandemic's hit. China's waning economic momentum dealt a fresh blow, with the official Purchasing Manager's Index (PMI) on Thursday showing the country's factory activity unexpectedly shrank in September due to wider curbs on electricity use.

01 Oct 2021, 08:33:11 AM IST

SGX Nifty down 173 points

01 Oct 2021, 08:29:02 AM IST

Stocks to Watch 

Bank of India, Airtel, Cadila, FRL, Zee, Maruti Suzuki among other stocks may be in the news today. (Read more)

01 Oct 2021, 08:25:41 AM IST

India Swings to Bigger-Than-Expected Current Account Surplus

India’s current-account balance swung to a surplus last quarter, thanks to robust services exports and a narrower trade deficit. The current account, the broadest measure of overseas trade, was in a surplus of $6.5 billion, or 0.9% of gross domestic product, in the three months ended June, the Reserve Bank of India said in a statement on Thursday. The median in a Bloomberg survey of 11 economists was for a surplus of $2 billion. The account was in a deficit of $8.1 billion in the January to March period, while it was in a surplus $19 billion, or 3.7% of GDP, in the comparable year-ago period. (Bloomberg)

01 Oct 2021, 08:25:24 AM IST

Market outlook

Markets may continue to remain under pressure on Friday while trends in SGX Nifty indicate a weak opening of Indian benchmark indices. On Thursday, the BSE Sensex closed at 59,126.36, down 286.91 points or 0.48% and the Nifty ended at 17,618.15, down 93.15 points or 0.53%. (Read here)

01 Oct 2021, 08:15:51 AM IST

Cryptocurrency prices today: Bitcoin, ether, dogecoin, cardano gain. Latest rates here

Cryptocurrency prices today continued to gain marginally. Bitcoin price jumped nearly 2% to $43,842. The world's largest cryptocurrency by market capitalization is up 51% this year (year-to-date), and much below its record of near $65,000 it had hit in April, as it came under regulatory crackdowns during the third quarter. (Read here)

01 Oct 2021, 08:15:52 AM IST

Ola Electric raises over $200 million

Ola Electric Mobility Pvt. Ltd has raised more than $200 million in a round led by SoftBank and Falcon Edge, among others, at a valuation of $3 billion, bolstering its plans to enter new vehicle categories. (Read here)

01 Oct 2021, 08:10:53 AM IST

Allianz asset management head Jacqueline Hunt to leave board

Allianz's head of asset management Jacqueline Hunt is stepping down from the board, the company said in a statement on Thursday, after a scandal over billions of dollars in hedge fund losses prompted a restructuring of the firm's management. (Reuters)

01 Oct 2021, 08:05:11 AM IST

MEIL plans ₹20,000-cr debt to fund acquisition of PSUs

Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) plans to borrow up to 20,000 crore to finance its planned acquisition of various public sector undertakings (PSUs), a top executive said. (Read here)

01 Oct 2021, 08:01:05 AM IST

Eight core industries expand 11.6% y-o-y in Aug on low base

Eight core infrastructure industries recorded an 11.6% increase in output in August, benefiting from a low base of the year-earlier period and continuing the sustained growth that began in March. (Read here)

01 Oct 2021, 07:48:58 AM IST

Net claims of non-residents falls to $327 bn  at end-June: RBI

RBI data
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RBI data
01 Oct 2021, 07:39:16 AM IST

Asian stocks open lower

Asian stocks started October on the back foot, after their U.S. peers capped their biggest monthly selloff since March 2020 with further losses. Shares dropped in Japan and Australia, while U.S. futures fluctuated in early Asia trading. China begins a week-long holiday and Hong Kong’s market is shut Friday. U.S. benchmarks fell Thursday even after confirmation that the House passed a nine-week spending bill to avert a U.S. government shutdown. The S&P 500 closed at the lowest level since July, extending its September losses to almost 5%. Economically sensitive companies like industrials and financials were among the worst performers.

S&P 500 futures rose 0.1% as of 9:52 a.m. in Tokyo. The S&P 500 fell 1.2% Thursday.

Topix fell 1%.

S&P/ASX 200 dropped 1.7%.

SGX Nifty was down 0.65%

01 Oct 2021, 07:30:09 AM IST

S&P set for worst quarter since pandemic

Volatility continued to roil risk assets, with U.S. equities on track for their worst quarter since the start of the pandemic. Stocks briefly trimmed their losses after the Senate passed a stopgap spending bill to avoid a government shutdown— one within a litany of risks for markets. Traders are also bracing for the Federal Reserve to wind down its stimulus amid mounting fears about slowing economic growth, elevated inflation, supply-chain bottlenecks, a global energy crunch and regulatory risks emanating from China.

The S&P 500 fell 0.5% as of 3:04 p.m. New York time

The Nasdaq 100 rose 0.2%

The Dow Jones Industrial Average fell 1%

The MSCI World index fell 0.2%

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