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Market closing: Sensex surges 533 points, pharma stocks shine

Stock market Today: Sensex, Nifty gain over 0.90%. (REUTERS)Premium
Stock market Today: Sensex, Nifty gain over 0.90%. (REUTERS)

  • Sensex closed at 59,299.32, up 533.74 points, or 0.91%, while Nifty closed at 17,691.25, up 159.20 pts, or 0.91% on Monday. The benchmark equity indices snapped a four-day bear run.

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Sensex and Nifty closed higher on Monday with the Sensex closing at 59,299.32, while Nifty settling at 17,691.25. A CMIE report on increase in employment by 8.5 million in September and fall in unemployment rate to 6.9% during the month boosted sentiment in the markets. 

04 Oct 2021, 04:09:54 PM IST

Markets end higher

Sensex and Nifty closed 0.9% higher on Monday with the Sensex closing at 59,299.32, while Nifty settling at 17,691.25. All sectoral indices traded in the green in the morning but the markets pared some gains later. However, they continued to trade firm through the latter half of the day. Among Nifty 50 stocks, Divi’s Labs was the biggest gainer, rising 5.13%. Tata Motors, M&M, SBI, NTPC, and Dr Reddy’s Labs were among other gainers. Eicher Motors, Indian Oil, HUL and HDFC Life Insurance were among those that traded in the red.

04 Oct 2021, 03:25:08 PM IST

Narendra Solanki, head-equity research (fundamental), Anand Rathi Shares & Stock Brokers, on market performance

“Indian markets started on a positive note despite negative Asian markets cues amid Evergrande crisis. During the afternoon session markets pared gains but continued their firm trade. Sentiments got some support with Centre for Monitoring Indian Economy’s (CMIE) report that employment increased by 8.5 million in September, led by the salaried jobs category, as the unemployment rate declined to 6.9% during the month. In another positive development, foreign portfolio investors (FPIs) were stood as net buyers for the second month in a row in the Indian market with an investment of 26,517 crore in September. As per depositories’ data, FPIs pumped in 13,154 crore into equities and 13,363 crore in the debt segment. However, markets trimmed some of their gains as traders were worried as trade deficit spiked to almost $23 billion in September from $13.8 billion in the previous month, as imports surged at a much faster pace than exports, driven by elevated global crude oil prices and purchases of gold in the build-up to the festival season."

04 Oct 2021, 03:17:35 PM IST

India's gold import in September surges amid festive season

September saw India's gold imports soar 658% from last year's lower base as a correction in local prices to the lowest level in nearly six months prompted jewellers to step up purchases for the upcoming festive season, according to a report. Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have fallen nearly 15% from an all-time high of $2,072 in August 2020. The surge in imports could increase India's trade deficit and pressure the rupee, the report said.

04 Oct 2021, 03:12:38 PM IST

Nobel in medicine given

04 Oct 2021, 03:09:12 PM IST

Indian edtech giant Byju’s valued at $18 billion in new funding : TechCrunch

04 Oct 2021, 03:02:53 PM IST

NTPC denies report of IPOs of three units

04 Oct 2021, 02:59:25 PM IST

KKR plans to sell entire stake in Indus Tower

KKR plans to sell entire 4.85% stake in Indus Tower, according to a report. The company plans to sell about 130 million  shares via block deals, the report said and added that the stake sale will be done via KKR unit Silverview Portfolio. Roadshows with mutual funds have started for potential sale.

04 Oct 2021, 02:55:46 PM IST

US futures decline as stagflation worries deepen

US equity-index futures declined as concerns about slowing growth and persistently high inflation kept investors on the edge. Contracts on the S&P 500 Index fell 0.3% after the underlying gauge posted the biggest weekly loss since February. Iron ore to aluminum rallied as a global supply crunch turned commodities into a sellers’ market. West Texas Intermediate fluctuated around $76 per barrel before an OPEC+ meeting to discuss production policy.

04 Oct 2021, 02:44:15 PM IST

HUL to hold meeting of board of directors on 19 Oct

Hindustan Unilever Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on 19 October 2021, through audio-visual means to consider unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2021 (Q2) along with the limited review report of the auditors for the corresponding period. The meeting will also consider a proposal for payment of interim dividend, if any, for the financial year ending 31 March, 2022. 

04 Oct 2021, 02:40:00 PM IST

Adani Port handled 23.08 mmt cargo in September

The portfolio of ports under Adani Port has during September 2021, handled cargo volume of 23.08 million metric tonnes (including 2.57 mmt for Gangavaram Port), which is a growth of 24% year-on-year

04 Oct 2021, 02:33:23 PM IST

Niti Aayog recommends privatization of Nalco, Hind Copper

Public policy think tank Niti Aayog is reported to have recommended the privatization fo Hind Copper and Nalco to the government

04 Oct 2021, 02:30:32 PM IST

Welspun India, Dupont Biomaterials collaborate

Welspun India and Dupont Biomaterials have collaborated to launch a new, sustainable functional home textile collection, according to a report.

04 Oct 2021, 02:25:46 PM IST

OPEC+ seen keeping oil output policy unchanged

OPEC and its allies are likely to stick to their existing agreement to add 400,000 barrels per day (bpd) of oil to the market in November, three OPEC+ sources said on Monday, amid consumer pressure for more supply to cool a red hot market. Ministers from The Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are due to gather online at 1300 GMT. An OPEC+ ministerial panel that monitors market developments, known as JMMC, meets before that. Benchmark Brent crude, up 50% so far this year, surged above $80 a barrel last month and was trading around $79 on Monday, pushed up by supply disruptions and surging demand as the global economy recovers from the covid-19 pandemic. (Reuters)

04 Oct 2021, 02:12:29 PM IST

Monzo abandons licence bid

04 Oct 2021, 02:00:51 PM IST

Sterling hovers near six-day highs vs dollar, euro

Sterling hovered near its highest levels in almost a week against both the dollar and the euro on Monday, as a broadly stronger dollar kept the currency pinned near levels hit on Friday. Rising inflation expectations early last week saw bond yields climb higher and hit risk sentiment in equity markets, pushing sterling to its lowest levels since December 2020. Sterling moves closely in line with global risk sentiment. The pound has made a tentative recovery since the latter part of last week, hitting $1.3576 in early deals in London on Monday, its highest since 28 September. That still leaves the currency down 0.8% on the year against the dollar. (Reuters)

04 Oct 2021, 01:51:16 PM IST

Generic Engineering wins biggest order worth ₹180 crore 

04 Oct 2021, 01:44:04 PM IST

Supertech's plea rejected

04 Oct 2021, 01:42:13 PM IST

Senvion India wins 591 MW firm order from JSW Energy

Senvion, a manufacturer of wind turbines, has been awarded a 591 MW project to deliver its high-quality wind turbines for JSW Energy. Senvion turbines will be deployed in JSW Energy’s ongoing pipeline of 2.5 GW of renewable projects which are under construction. The project will comprise of Senvion’s state-of-the-art 2.7MW turbines. When fully deployed these wind turbines will produce enough clean energy to supply the power needs of over 450,000 Indian homes. Key factors in the award of the contract to Senvion included a competitive product due to high-level of indigenization, technical strength, and quality. The delivery of the turbines will start from H1 of 2022.

04 Oct 2021, 01:33:12 PM IST

Udaan starts 'Mega Bharat Sale' for kiranas

Business-to-business e-commerce platform Udaan, on Monday announced the second edition of ‘Mega Bharat Sale’ event for kirana shops and small retailers across the country. This follows the success of the first edition of the sale held in August. In view of the upcoming festive season, the ‘Mega Bharat Sale’ will run from 6-12 October on the Udaan platform. During the mega sale period, small retailers and kirana owners from across the country will get an opportunity to get huge discounts across a wide selection of quality products with over 100 brands and over 5,000 SKUs (stock-keeping units) from small and large fast-moving consumer goods (FMCG) brands, according to reports.

04 Oct 2021, 01:33:12 PM IST

ZebPay launches global crypto electronic OTC desk for HNIs, institutional investors

ZebPay, a crypto asset exchange, has launched India’s first global Electronic Over-The-Counter (OTC) desk for large volume traders and institutional investors globally. Targeted at HNIs (high net-worth individuals) trading firms, and corporates, the ZebPay Electronic OTC desk offers cost-effective one-click execution of large crypto trade orders instantly at tight spreads with zero fees and minimal slippage. Access is available via API integration or through an easy-to-use trading interface that enables automated trading facilities for all users.

04 Oct 2021, 01:22:48 PM IST

Albert David partners Corona Remedies to co-market Placentrex

Kolkata-headquartered pharmaceutical company Albert David Ltd has informed the BSE in a regulatory filing that the company has decided to partner with Corona Remedies Pvt Ltd to help take the human placental extract product Placentrex with another brand name to a larger and wider group of end beneficiaries. Albert David Ltd said that it has signed a strategic co-marketing agreement for the purpose with Corona Remedies on Monday.

04 Oct 2021, 01:07:51 PM IST

Toshiba India appoints Shuichi Ito as Managing Director

Local arm of Japanese industrial conglomerate Toshiba on Monday announced the appointment of Shuichi Ito as the company’s new managing director, effective 1 October 2021. Ito succeeds Tomohiko Okada who was heading TIPL’s operations for more than five years.

Shuichi Ito, newly appointed managing director of Toshiba.
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Shuichi Ito, newly appointed managing director of Toshiba.
04 Oct 2021, 01:04:48 PM IST

Del Monte elevates Mahesh Kanchan to CEO

FieldFresh Foods, a joint venture between Bharti Enterprises and Del Monte Pacific Ltd, on Monday announced that the company’s chief commercial officer Mahesh Kanchan has been elevated to the position of chief executive officer. Kanchan will take over from Yogesh Bellani who has decided to pursue opportunities outside of the company. Rakesh Bharti Mittal, vice chairman of Bharti Enterprises and chairman of FieldFresh Foods said under Kanchan’s leadership, the company will prosper into a leading next-generation consumer products company. "Under Bellani, Del Monte has become a household name in India," he said.

04 Oct 2021, 12:59:39 PM IST

Nasdaq Futures down 0.7%, S&P 500 E-Mini Futures down 0.5%

04 Oct 2021, 12:59:00 PM IST

Broad indices

Nifty broad indices at 12:45 pm
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Nifty broad indices at 12:45 pm
04 Oct 2021, 12:43:36 PM IST

UPL had no environmental clearance to operate plant: report 

UPL Limited, formerly United Phosphorus Limited, had no environmental authorization to operate its Cornubia chemical factory, nor did it obtain risk assessment and planning permissions as required by environmental and municipal by-laws, according to a preliminary report released on Sunday by South Africa's forestry, fisheries and environment minister Barbara Creecy regarding the Durban environmental disaster probe.

04 Oct 2021, 12:35:22 PM IST

Tata communications, Cisco Systems announce expansion of partnership

Tata Communications and Cisco Systems on Monday announced the expansion of their two-decades-long strategic global partnership. This new agreement is between Tata Communications and Cisco Meraki to empower enterprises with simple and easy to deploy, manage, and analyse IT infrastructure for delivering anywhere, anytime access, according to a statement.  According to the statement, San Francisco headquartered cloud-managed IT company Cisco Meraki has  been onboarded within the Tata Communications ecosystem to offer a world-class suite of next-generation cloud-managed Wi-Fi services based on the latest Wi-Fi 6 technology and SD-WAN (Software-Defined Wide Area Network) services across various industries. 

04 Oct 2021, 12:29:43 PM IST

BetterPlace acquires Oust Labs

04 Oct 2021, 12:25:32 PM IST

NIIT acquires majority stake in RPS Consulting

NIIT Ltd, a global skills & talent development company, and leading provider of managed training services, has acquired 70% stake in RPS Consulting Private Limited (RPS Consulting). The board of NIIT Ltd approved this transaction during the board meeting held on 1 October 2021. The remaining 30% shareholding will be acquired by NIIT from the promoters of RPS Consulting in subsequent tranches based on achievement of certain financial milestones and closing adjustments in terms of the transaction documents within the next two and a half years. (ANI)

04 Oct 2021, 12:23:30 PM IST

NCLT to hear Invesco plea after Zee says no to EGM

The Mumbai bench of NCLT will hear the plea of Invesco, after ZEEL last week refused to conduct an EGM vowing to challenge this in a high court. With this analysts say that control of ZEEL is headed for a long winding legal battle with a final outcome unlikely in the immediate future.

04 Oct 2021, 12:20:46 PM IST

Kamdhenu's paint unit fully functional 

Kamdhenu Ltd has informed that its paint factory is now fully functional and operational with state-of-the-art facility and upgraded manufacturing capabilities and facilities, according to a report.

04 Oct 2021, 12:17:49 PM IST

Grab to take majority stake in Indonesia's OVO

04 Oct 2021, 12:15:57 PM IST

NCC wins big orders worth ₹440 crore

04 Oct 2021, 12:08:45 PM IST

Why Divi's labs shares have surged 10% today

Shares of pharmaceuticals company Divis Laboratories surged 10% to hit a 52- week high level of 5,315 per share on the BSE in Monday's early trading session. The pharma stock, which is trading as the top Nifty gainer, is in focus as the company is MSD's authorized manufacturer for Molnupiravir API. (Read here)

04 Oct 2021, 12:02:55 PM IST

Sensex heatmap

25 stocks on the Sensex were in the green at noon, while five stocks including Tata Steel, Titan, and Powergrid were in the red.

Sensex heatmap at noon.
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Sensex heatmap at noon.
04 Oct 2021, 11:59:36 AM IST

Wyndham Hotels & Resorts to expand hotel pipeline in India

Wyndham Hotels & Resorts, a hotel company based in Parsippany, New Jersey, the US, is to expand its hotel pipeline in India. After announcing the launch of a 300-room hotel property in Mumbai, the company's India and EMEA head Nikhi Sharma said it plans to add another 34 hotels by 2023-24 in the country under brands such as Wyndham, Ramada and Horton Stays. The company currently has hotels in Jaipur, Powai, Khajuraho, Dehradun, etc. under Ramada and Wyndham brands. 

04 Oct 2021, 11:56:21 AM IST

Man Infra announces bonus issue in ratio 1:2

Man Infraconstruction Ltd has announced bonus issue in the ratio 1:2, according to a report.

04 Oct 2021, 11:46:01 AM IST

Crypto exchange CoinDCX ropes in Amitabh Bachchan as its brand ambassador

04 Oct 2021, 11:45:13 AM IST

In surprise move, new Japan PM to call Oct 31 election - NHK

Japan's new prime minister, Fumio Kishida, exchanged fist bumps with lawmakers after he was formally elected by parliament on Monday, as public broadcaster NHK said he was set to dissolve the body next week and call an election for 31 October. The surprise move, amid widespread expectations for a poll in November, appears to be aimed at exploiting a traditional honeymoon period accorded to new governments and a sharp drop in the number of coronavirus infections. (reuters)

04 Oct 2021, 11:36:25 AM IST

Apple plans Mac-focused event

04 Oct 2021, 11:26:35 AM IST

Index contribution

Contribution of stocks to Sensex position.
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Contribution of stocks to Sensex position.
04 Oct 2021, 11:22:13 AM IST

Bezos makes first-ever investment in Southeast Asia’s e-commerce

Amazon founder Jeff Bezos participated in a $87 million Series B funding for Indonesian startup Ula, marking his first-ever investment in Southeast Asia’s e-commerce space. Bezos Expeditions, Northstar group, AC Ventures and Citius joined the round co-led by Prosus Ventures, Tencent and B-Capital, the e-commerce marketplace Ula said in a statement on Monday. The previous fundraising included $10.5 million seed round in June 2020 and an additional $20 million Series A round in January this year. (bloomberg)

04 Oct 2021, 11:14:02 AM IST

Indian shares rise after four sessions of losses, pharma top boost

Indian shares rose on Monday after four sessions of falls, with pharma stocks leading the recovery in broad-based buying, while investors waited for the September-quarter earnings season to start and a central bank rate decision due later in the week. The NSE Nifty 50 index climbed 1.03% to 17,713.90 by 0505 GMT, while the S&P BSE Sensex gained 1.09% to 59,406.33. Both indices posted their worst weekly performance in several months last week as markets consolidated after scaling record highs multiple times in September on declining covid-19 cases and easing restrictions across the country. (reuters)

04 Oct 2021, 11:07:37 AM IST

CEAT acquires 26% stake in Cleanwin Energy

CEAT had completed acquisition of 26% stake in Cleanwin Energy, according to a report. The company had last month signed a limited liability partnership (LLP) agreement with Harshvardhan Ravi Goenka and Yellowstone Clean Energy LLP. Under the agreement, CEAT was to invest up to 60 lakh in one or more tranches in Cleanwin Energy Five LLP to acquire a 26% stake in the LLP. Cleanwin was promoted as a special purpose vehicle for undertaking the business of generation of renewable energy from conventional and non-conventional sources of energy and to supply such electricity on a captive basis to the company.

04 Oct 2021, 10:53:11 AM IST

Sectoral indices

All sectors were in green at 10:50 am.

NIfty sectoral indices as of 10:50 am.
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NIfty sectoral indices as of 10:50 am.
04 Oct 2021, 10:43:40 AM IST

Covid update

04 Oct 2021, 10:41:18 AM IST

Cipla, Eli Lilly partner for access to diabetes products

Cipla and Eli Lilly have entered into a strategic partnership in India to access Lilly's key diabetes products.

04 Oct 2021, 10:39:24 AM IST

Biocon expands generic formulations portfolio

Biocon has expanded its generic formulations portfolio with the launch of Everolimus tablets in the US.

04 Oct 2021, 10:37:47 AM IST

Fumio Kishida officially elected Japan's 100th prime minister

Fumio Kishida was officially elected as Japan's 100th prime minister on Monday after winning a majority of votes in both houses of parliament. The new cabinet members under Kishida, who succeeds Yoshihide Suga, are due to be announced later in the day. (reuters)

04 Oct 2021, 10:33:43 AM IST

Zydus Cadila gets DCGA for phase 3 trial of two-dose ZyCoV-D

Zydus Cadila has secured approval from the Drugs Controller General of India (DCGA) to conduct the phase 3 trials of a two-dose regimen of its covid-19 vaccine ZyCoV-D. The Subject Expert Committee (SEC) has granted permission to the company to conduct phase 3 trials of ZyCoV-D, according to a report in the Economic Times.

04 Oct 2021, 10:29:37 AM IST

Adani Green completes acquisition

04 Oct 2021, 10:27:13 AM IST

Lodha's projects in UK see rise in sales

Lodha’s projects in London—Grosvenor Square and Lincoln Square—see rise in sales as travel restrictions to UK ease. The Mumbai-based developer, which had bought the two properties in 2014, expects to sell the Grosvenor Square inventory before its 2023-24 target, that will help it to reduce debt. (Read here)

04 Oct 2021, 10:13:44 AM IST

Oyo Hotels angles for an IPO upgrade

A budget lodging group is aiming for premium accommodation in the public market. Revenue at India’s Oyo Hotels and Homes collapsed 69% last year, forcing the company to curtail its dizzying global expansion plans and restructure the business model. An initial public offering read more at a mooted $11 billion would be a small upgrade from its peak pre-pandemic valuation and imply a lot of faith in young founder Ritesh Agarwal and in a travel rebound. (reuters)

04 Oct 2021, 10:09:19 AM IST

Hopson Development to acquire 51% stake Evergrande property management unit

Hopson Development, one of the five largest real estate private company in Guangdong Province, is to acquire about 51% of China Evergrande Property Services Group for more than HK$40 billion, the Global Times has reported citing media reports.

04 Oct 2021, 10:05:57 AM IST

Axis Securities initiates coverage on PNC iNFRATECH

Considering strong and diversified order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, and the company’s efficient and timely execution, we expect PNCIL to report Revenue/Ebitda/APAT CAGR of 15%/16%/26% respectively over FY21-FY24E. Currently, the stock is trading at 13x FY24E EPS. We initiate coverage with a BUY rating and value the company’s EPC business at 14x FY24E EPS and HAM portfolio at 1x book value, to arrive at a target price of 440/share. TP implies an upside potential of 24% from the CMP.

04 Oct 2021, 10:03:44 AM IST

ICICI Securities' coverage on sectoral deployment of bank credit in August

Bank credit sectoral deployment data for August 2021 suggests only gradual month-on-month (m-o-m) accretion in credit pool with signs of improvement only in pockets. Overall, non-food credit growth is still down 0.2% year-to-day at 96.4 trillion (up 0.5% m-o-m and 6.7% y-o-y).

04 Oct 2021, 09:55:49 AM IST

Apple plans to export assembled-in-India iPhones

Apple is planning to export assembled-in-India iPhones (iPhone SE and iPhone 12 4G model) to reduce its dependence on china.

04 Oct 2021, 09:43:27 AM IST

Indian shares rise as pharma stocks lead gains

Indian shares rose on Monday, as pharma stocks led a broad-based advance and the country's top energy generator NTPC rose on reports of an initial public offering for three of its units. Nifty's pharma index advanced the most among major sub-indexes, adding 1.38% early on Monday, led by a 5% jump in Divi's Laboratories.

04 Oct 2021, 09:41:40 AM IST

KPIT Tech to boost investments towards software-defined vehicle solutions with specific focus on middleware

KPIT Tech is planning to boost investments towards software-defined vehicle solutions with specific focus on middleware. The company had recently announced plans to acquire Future Mobility Solutions GmbH (FMS) for up to €15.6 million (about 135 crore).

04 Oct 2021, 09:34:48 AM IST

Sensex surges

04 Oct 2021, 09:32:13 AM IST

Sectoral indices in green

Most sectoral indices were in the green at 9:30 am on the NSE.  Nifty metal and Nifty FMCG alone were in red.

Sectoral indices at 9:30 am
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Sectoral indices at 9:30 am
04 Oct 2021, 09:29:34 AM IST

Market opens

Sensex was at 59,122.97, up 357.39 pts, or  0.61% at 9:27 am. Nifty was at 17,632.40, up 100.35 pts, or 0.57%. 

Sensex heatmap as of 9:27 am.
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Sensex heatmap as of 9:27 am.
04 Oct 2021, 09:06:55 AM IST

Market preopening

At market pre-opening, the Sensex was at 59,136.94, up 371.36 pts, or 0.63%, while Nifty was at 17,532.05 down 86.10 pts, or 0.49%.

Sensex heatmap.
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Sensex heatmap.
04 Oct 2021, 09:02:24 AM IST

35 firms may raise ₹80,000 crore in Q3

The markets may see a flurry of initial public offerings between October and December, according to a report published by the Economic Times. As many as 35 companies are planning to raise a record 80,000 crore in the third quarter if the market remains stable, the report cited bankers as saying. In comparison, the previous record for a calendar year was in 2017 when 36 companies raised 67,147 crore, it said.

04 Oct 2021, 08:53:04 AM IST

Facebook chooses 'profit over safety,' says whistleblower

A Facebook Inc whistleblower on Sunday accused the social media giant of repeatedly prioritizing profit over clamping down on hate speech and misinformation, and said her lawyers have filed at least eight complaints with the U.S. Securities and Exchange Commission. Frances Haugen, who worked as a product manager on the civic misinformation team at Facebook, appeared on Sunday on the CBS television program "60 Minutes", revealing her identity as the whistleblower who provided the documents that underpinned a Wall Street Journal investigation and a Senate hearing on Instagram's harm to teen girls.

04 Oct 2021, 08:44:02 AM IST

Yes Bank says provisional loans and advances as of Sept 30 up 5.7% q-o-q

Yes Bank has reported its provisional loans and advances as of 30 September at 1.73 trillion, up 5.7% q-o-q. The bank has said its provisional liquidity coverage ratio as of 30 September was 113.1% versus 118.4% in the previous quarter. (reuters)

04 Oct 2021, 08:33:54 AM IST

Markets may stay volatile; Zee, Vodafone, aviation stocks in focus

Markets are likely to be volatile on Monday following global cues. SGX Nifty trends indicate a weak opening of Indian benchmark indices. On Friday, the BSE Sensex closed at 58,765.58, down 360.78 points or 0.61%. The Nifty closed at 17,532.05, down 86.10 points or 0.49%. (Read here)

04 Oct 2021, 08:28:22 AM IST

Evergrande, property management unit share trading halted

Trading of China Evergrande Group shares was suspended in Hong Kong along with those of its property management unit, as the property giant contends with a deepening cash crisis. No reason was given for the halts, which also affect all structured products relating to the company, a stock exchange filing showed on Monday morning. Hopson Development Holdings Ltd. plans to acquire a 51% stake in Evergrande Property Services Group Ltd. for more than HK$40 billion ($5.1 billion), Cailian reported, citing unidentified people. (bloomberg)

04 Oct 2021, 08:24:09 AM IST

Macrotech Developers update on UK projects

Macrotech Developers has said its Grosvenor Square development project achieved pre sales of £110 million in september. The company said its current performance has exceeded its business plan. and that it expects to sell out the project ahead of business plan of FY24. Macrotech Developers added that during quarter Lincoln Square achieved pre sales of £35 million. (reuters)

04 Oct 2021, 08:14:00 AM IST

Oil falls ahead of OPEC+ supply policy meeting

Oil fell on Monday ahead of an OPEC+ supply policy meeting that may decide whether a recent rally in prices can be sustained as the world fitfully recovers from the covid-19 pandemic. Brent crude was down 24 cents or 0.3% at $79.04 per barrel by 0143 GMT. It rose 1.5% last week, its fourth weekly gain in a row. US oil dropped by 27 cents or 0.4% to $75.61, after rising for the past six weeks. (reuters)

04 Oct 2021, 08:09:28 AM IST

Stocks to Watch: Tata Group, aviation shares, Adani Group, Zee Entertainment

Tata Group, aviation shares, Adani Group, Zee Entertainment and CESL are among stocks to watch today. (Read here)

04 Oct 2021, 08:02:05 AM IST

Banks launch credit card blitz to target festive spends

Banks are turning upbeat about credit cards as the festival season nears, launching several new cards and dangling offers at a time customers traditionally loosen their purse strings.

While lenders remain cautious on unsecured loans, they are making calculated bets on credit cards. Apart from market leaders such as SBI Card and HDFC Bank, which are launching new cards, banks that did not offer credit cards so far are also entering this extremely competitive market. Many lenders are zooming in on their existing customers about whom they have enough historical data. (Read here)

04 Oct 2021, 07:48:42 AM IST

From today, mandatory 10-day quarantine for all UK citizens arriving in India

Starting today (4 October), all British nationals arriving in India from the UK will have to undergo a mandatory 10-day quarantine if they are fully vaccinated against the coronavirus disease (Covid-19), as announced by the Union government on October 1. (Read here)

04 Oct 2021, 07:36:41 AM IST

Market view: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

The over stretched market can surprise us any time and hence we reiterate staying light in the market. We have already witnessed a glimpse of this possibility this week, but structurally nothing has been dented yet.

As far as levels are concerned, the upside in the coming week seems capped and we do not expect the Nifty to go beyond the sturdy wall of 17800-17950. On the flip side, 17450-17300 are to be seen as key supports. 

The first signs of weakness will be visible only after breaking this lower range. In addition, fear index INDIA VIX also surged a bit last week. Hence, we expect volatility in the coming week as well. We advise traders to stay light and follow strict stop losses for existing positions. Also, we are observing good stock specific action in the market. One can continue following it but try to book timely profits as well.

04 Oct 2021, 07:33:12 AM IST

SGX Nifty trades lower 

SGX Nifty was 0.5% lower at 17,540.80 in early deals today, indicting a negative start for Indian indices.

On Friday, Sensex had 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%

04 Oct 2021, 07:29:08 AM IST

Asia stocks see muted start to week; dollar steady

Asian stocks saw a muted start to the week as investors weighed prospects for a pickup in growth against concern over inflationary pressures. Japanese shares fluctuated alongside US futures, while Australian stocks stayed higher. Earlier gains pared after trading of China Evergrande Group shares was suspended in Hong Kong, along with those of its property management unit. Mainland Chinese markets are closed through Thursday for the Golden Week holidays. The dollar was little changed after two sessions of losses. Treasuries edged up, with 10-year yields slipping to 1.45%. The S&P 500 closed higher Friday after promising results for a Covid-19 pill and positive manufacturing data triggered a rally in companies that stand to benefit from an economic reopening. 

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