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Home >Markets >Live Blog >Sensex closes down 300 pts lower, Nifty at 16,451; VIX up 8.60%; metals bleed

Sensex closes down 300 pts lower, Nifty at 16,451; VIX up 8.60%; metals bleed

Market closing: Indian indices were fell more than  0.54% on Friday. Premium
Market closing: Indian indices were fell more than  0.54% on Friday. 

Market closing: Sensex closed at 55,329.32, down 300.17 points, or 0.54%, while Nifty was at 16,450.50, down 118.35 points or  0.71%. FMCG was the lone gainer on Friday

With virus cases surging around the world, there’s speculation that economic growth could lose moment just as central banks pare back their support measures. Asian markets have been hammered this week by China’s tougher enforcement actions. Asian shares finished the week heading for their lowest close since November and worst week since February, dragged down by losses in China and extending the sharp falls a day earlier.

20 Aug 2021, 03:50:14 PM IST

Rupee falls 15 paise to close at 74.39 (provisional) against US dollar

20 Aug 2021, 03:49:44 PM IST

Gold jumps ₹128; silver marginally up

Gold prices in the national capital on Friday jumped 128 to 46,353 per 10 grams, in line with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at 46,225 per 10 gram. Silver gained marginally by 6 to 60,897 per kg, from 60,891 per kg in the previous trade.

20 Aug 2021, 03:48:53 PM IST

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

"Nifty closed negative in the second consecutive trading session today. It closed at 16,415 down by 150 points. Nifty has strong support at 16,350 and closing below that may take Nifty to 16,150 and 16,000 levels. Traders having long positions should keep strict stop loss to book profits and protect capital. New longs in Nifty should be considered only on closing above 16,550 levels with higher than average volumes." 

20 Aug 2021, 03:47:43 PM IST

Market closing

Sensex closed at 55,329.32, down 300.17 points, or 0.54%, while Nifty was at 16,450.50, down 118.35 points or 0.71%. FMCG was the lone gainer on Friday. On the 30-share Sensex, HUL, Asian Paints, Nestlé India, and five other stocks closed in green, while Tata Steel, SBI, Dr Reddy's, and 19 other stocks closed in red. 

Sensex at close
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Sensex at close
20 Aug 2021, 03:26:48 PM IST

Global shares hit, dollar firm as investors seek safety

Global shares fell for the fifth straight day and the dollar remained firm in a flight to safety on Friday as rising coronavirus cases compounded concerns over Chinese growth and the outlook for U.S. stimulus. (Reuters)

20 Aug 2021, 03:24:19 PM IST

Expecting ‘revenge travel’ in India, Mahindra Holidays eyes acquisitions

Mahindra Holidays & Resorts India Ltd. is looking to acquire more hotels as Indians emerging from months of pandemic-induced lockdowns eagerly head out for local leisure travel. “We have a very good pipeline of properties that we’re looking at for acquisitions," as well as leasing opportunities, said Chief Executive Officer Kavinder Singh in an interview to Bloomberg Television Friday. “There is revenge travel." (Read here)

20 Aug 2021, 03:10:23 PM IST

Cadila inks pact with Italian firm to launch generic product in US

Cadila Healthcare on Friday said it has inked a pact with Italian firm CHEMI SpA to launch a generic drug used in the treatment of Deep Vein Thrombosis, in the US market. Zydus Pharmaceuticals Inc has signed a licence and supply agreement with CHEMI SpA, a subsidiary of Italfarmaco Group, to launch the generic product, it said in a statement. Zydus Pharmaceuticals Inc is a wholly-owned subsidiary of Cadila Healthcare (Zydus Cadila).

20 Aug 2021, 02:55:22 PM IST

JSW Steel down 6%

JSW Steel's stock was trading at 6,692.95 each, down 6.12% at 2:54 pm. The business responsibility/sustainability reporting committee of the company’s board of directors has set a target of achieving CO2 emissions of 1.95 tonnes (t) of carbon dioxide (CO2) equivalent (e) per tonne of steel by FY30/ This marks a 23% reduction from FY20 and 42% reduction from the base year of 2005.

20 Aug 2021, 02:52:12 PM IST

Sensex heatmap

FMCG stocks lead gains
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FMCG stocks lead gains
20 Aug 2021, 02:26:31 PM IST

HDFC Bank gains

HDFC Bank's stock was trading at 1,515.50 each, up 0.17% at 2:25 pm. The lender has raised $1 billion by selling additional tier-1 (AT1) bonds to overseas investors, at a final pricing of 3.7%, as against the initial price guideline of 4.125%.

20 Aug 2021, 02:12:48 PM IST

BofA Securities warns markets may correct 9% near term, sees Nifty at 15,000

Notwithstanding the massive surge in equities in the recent past, some investors have turned cautious. Analysts at BofA Securities have issued warnings on Indian equities fearing correction in the near term. “Our analysis of past market rallies suggests the current rally could have limited further runway. We see risk of estimate cuts and with valuations at a peak, we expect markets to correct 9% near term with our Nifty target at 15,000," said BofA Securities in a note on 20 August. (Read more)

20 Aug 2021, 01:54:26 PM IST

Zydus Cadila's needle-free Covid-19 vaccine, ZyCoV-D, gets approval in India: Report

The Indian drug regulator's subject expert committee has recommended approving Zydus Cadila's three-dose COVID-19 vaccine -ZyCoV-D- for emergency use authorization (EUA), as per media reports. (Read more)

20 Aug 2021, 01:50:59 PM IST

India's surging domestic gas output to dent LNG import, but not for long: Wood Mackenzie

Helped by new output from KG-D6 fields of Reliance-BP, India's domestic gas production, which had been falling for more than a decade because of declining output from legacy fields, now looks in rude health, according to energy consultancy Wood Mackenzie. Reliance Industries Ltd and its partner BP Plc of UK in December last year started putting the second wave of gas discoveries in eastern offshore KG-D6 block to production with R-Series started flowing gas. In April they started output from the Satellite Cluster fields. (PTI)

20 Aug 2021, 01:39:40 PM IST

HUL hits ₹6 tn mcap 

Hindustan Unilever Ltd has hit a market cap of 6 trillion after its shares surged over 18% since last one year. This was the fifth Indian firm to achieve this milestone. The stock hit an all-time high of 2,580 on BSE. At 1 pm, it was trading at 2,575, up 3.5% from its previous close with market cap of 6.05 trln. The scrip was trading higher for seventh consecutive session and gained over 8% in this period.

20 Aug 2021, 01:26:18 PM IST

Bharti Airtel files review petition in AGR case: report

20 Aug 2021, 01:21:43 PM IST

Facebook India announces ‘Small Business Loans Initiative’

Facebook India announces ‘Small Business Loans Initiative’, to help small and medium businesses (SMBs) that advertise on Facebook to get quick access to credit through independent lending partners. India is the first country where this programme is being launched.

20 Aug 2021, 01:13:56 PM IST

GMR spending ₹20k cr on airports' expansion, developing new ones

GMR group is currently investing 20,000 crore to expand the existing airports and developing new aerodromes, GM Rao, Chairman of the infra major has said.

20 Aug 2021, 12:59:33 PM IST

India, which was at 65th position in 2013 in Travel and Tourism Competitiveness Index, jumped to 34th position in 2019: PM Modi

20 Aug 2021, 12:50:45 PM IST

After Q1, Info Edge’s outlook is decent but stock remains pricey

Info Edge (India) Ltd’s June quarter (Q1FY22) results were nothing to complain about. Standalone revenues grew 14% year-on-year to Rs320 crore. The company saw a 67% year-on-year rise in its billings to Rs314 crore. However, billings were 24% lower sequentially due to the impact of seasonality. Further, earnings before interest, tax, depreciation and amortisation (Ebitda) margin stood at 31.2% during the quarter, which was better than expectations, helped by better operating leverage. Ebitda margin expanded 1280 basis points (bps) from the March quarter, though the measure is down 610bps year-on-year. One basis point is 0.01%.

20 Aug 2021, 12:24:39 PM IST

HUL, Britannia drive gains

Nifty FMCG index
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Nifty FMCG index
20 Aug 2021, 12:08:16 PM IST

Easy money boosts world-beating stocks in covid hotspot India

The Reserve Bank of India is helping to fan a world-beating share market rally with record-low interest rates and huge injections of liquidity—even as inflation threatens to break back out of its target range. Investors are betting the easy money won’t end anytime soon, with central bank governor Shaktikanta Das keeping a lid on dissent as he nurses the economy back from its pandemic lows. (Read more)

20 Aug 2021, 11:50:20 AM IST

Cartrade listing commentary: Yash Gupta Equity Research Associate, Angel Broking

“Cartrade IPO got listing today at 1,600, which is down by 1.2% from the IPO price and now trading at 1503, which is down by 7.1% from the IPO price. We suggest investors who have received the allotment hold the share for a short time as we expect the stock to show some recovery in the near future. We are not recommending investors to do fresh buying in the stock. Currently, the company is trading at price to earnings of 68 times, the company has reported improvement in financial performance in the last 3 years. In the times of covid pandemic company's net profit has increased from 31 crores in FY2020 to 101 crores in FY2021."

 

20 Aug 2021, 11:40:08 AM IST

Base metals commentary: Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking

On Thursday, base metals on the LME ended lower as a stronger Dollar, bleak demand prospects from China and worries over tapering by the US FED continued to pressure the entire pack. Surge in new Covid19 variant cases and severe floods in prime industrial regions of China led to slow growth in China factory activities hinting towards slowdown in the economic recovery. The fall in LME Aluminium prices was limited as steady withdrawals of Aluminium inventories from the LME monitored warehouse further signalled towards a tighter supply of the light metal. (LME Aluminium inventories are down over 30% since March.)

20 Aug 2021, 11:37:24 AM IST

J&J seeks CDSCO nod for covid vaccine study on adolescents

Johnson & Johnson has moved an application to the Central Drugs Standard Control Organisation (CDSCO) seeking permission to conduct a study of covid-19 single shot vaccine in India in adolescents aged 12 – 17 years. (Read more)

20 Aug 2021, 11:03:28 AM IST

Japan's Nikkei hits lowest level since late December

20 Aug 2021, 10:58:08 AM IST

Apple delays office return

Apple Inc. became the latest U.S. company to delay plans for office openings, underscoring the challenges businesses still face in returning to normal. President Joe Biden defended his push for booster shots, amid criticism that the move is unfair to other nations still struggling to procure first doses. (Bloomberg)

20 Aug 2021, 10:45:54 AM IST

Tata Steel, banks top drags

Index contribution
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Index contribution
20 Aug 2021, 10:33:43 AM IST

Brigade, Prestige top drags

Nifty realty index
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Nifty realty index
20 Aug 2021, 10:24:06 AM IST

Rupee slumps 16 paise to 74.40 against US dollar in early trade

20 Aug 2021, 09:58:47 AM IST

Hindalco, Tata Steel top drags

Nifty metal index
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Nifty metal index
20 Aug 2021, 09:50:20 AM IST

Tata Steel trades lower

Shares of Tata Steel fell 3.96% in early trade. The steel major had rallied roughly 4% at the start of this week, extending gains it had seen after posting a strong set of June-quarter numbers.

 

20 Aug 2021, 09:48:14 AM IST

India reports over 36,000 new covid-19 cases, 540 deaths in 24 hrs

India has added 36,571 new covid-19 infections, taking the total tally of cases to 3,23,58,829, while the death toll has climbed to 4,33,589 with 540 more fatalities, according to Union health ministry data updated on Friday. The national recovery rate has improved to 97.54%, the highest since March last year, according to the data updated at 8 am. (Read more)

20 Aug 2021, 09:39:48 AM IST

IT gains

Nifty sectoral indices
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Nifty sectoral indices
20 Aug 2021, 09:25:55 AM IST

Market opening

Sensex opened at 55,159.1, down 470.36 points or 0.85%, while Nifty was at 16,382.50, down 186.35 points, or 1.12%. All sectors were in red at market open.

Sensex at open
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Sensex at open
20 Aug 2021, 09:13:45 AM IST

IndusInd Bank clarifies holding structure

IndusInd Bank has denied recent media reports stating that it is a subsidiary of Hinduja Bank. The bank is promoted by IndusInd International Holdings Ltd and its subsidiaries, it clarified. The billionaire Hinduja family pledged more of their stake in IndusInd Bank Ltd. to avoid triggering a covenant breach last quarter, according to people with knowledge of the matter, a renewed source of concern given they had to step in to repay such a loan following a market rout last year. (Read here)

20 Aug 2021, 08:56:46 AM IST

Bombay HC asks Mihan to set aside letter annulling Nagpur airport bidding process

GMR Infra Says Bombay HC set aside MIHAN (Multi Modal International Cargo Hub & Airport At Nagpur) India’s letter annulling bidding process for Nagpur airport. Court has asked MIHAN to take steps regarding RFP conditions. This includes signing of concession agreement in 6 weeks.

20 Aug 2021, 08:38:25 AM IST

Cryptocurrency prices today: Bitcoin above $47,000, ether, dogecoin, cardano surge

In cryptocurrencies, Bitcoin prices today surged to trade above $47,000 mark while other digital tokens were also trading with gains. The world's largest cryptocurrency by market capitalization surged 5% to $47,111. Amid a volatile year for the virtual coins, Bitcoin is up over 62% this year (year-to-date or YTD). Ether, the coin linked to ethereum blockchain and the second largest crypto, surged over 7% at $3,228. Dogecoin, on the other hand, gained nearly 5% to $0.31. Other digital coins like Stellar, Uniswap, XRP, Litecoin, Cardano also were trading with gains over the last 24 hours in the range of 5-12%. (Read here)

20 Aug 2021, 08:28:37 AM IST

Market outlook

Markets are likely to be cautious on Friday while trends in SGX Nifty suggest a flat opening of Indian benchmark indices. Markets in India were shut for trading yesterday. (Read here)

20 Aug 2021, 08:28:37 AM IST

Stocks to Watch

IndiGo, Zomato, Jet Airways, Vodafone Idea, HDFC Bank, among other stocks may be in the news today. (Read here)

20 Aug 2021, 08:11:27 AM IST

India looks to work with US on market access issues: Goyal

India will look at working with the US on market access issues to promote bilateral trade as Washington has indicated that it is not looking for a new trade agreement as of now, Commerce and Industry Minister Piyush Goyal said on Thursday. He also said that Australia has shown significant interest to do an early harvest pact with India and exporters should share areas of their interest with the ministry. An early harvest with countries like Australia will help India engage with others on similar lines, Goyal said. "The US as of now has kind of indicated that they are not looking for new trade agreements, but we look at working with them for more market access issues on both the sides and I think that would also be a big relief and a big opportunity opener for our export sector," he said while addressing the Export Promotion Council leaders in Mumbai. On the proposed free trade pact with the UK, the minister said it is progressing well as both the teams are in talks. (PTI)

20 Aug 2021, 07:58:52 AM IST

Toyota to cut September production by 40% as covid chokes semiconductor supply

Toyota has announced plans to cut global production in September by 40% compared to earlier plans as Covid-19 constricted supply of semiconductors. The Japanese automobile behemoth became the last major industry player to reduce output due to this reason. The world's largest automaker announced suspensions in operations at multiple Japanese plants next month due to a “parts shortage resulting from the spread of Covid-19 in Southeast Asia". (Read here)

20 Aug 2021, 07:49:10 AM IST

Asian markets open lower

Asian stocks fell Friday as the fast-spreading delta virus strain stoked concerns about economic growth and China’s regulatory curbs sapped sentiment. The dollar was firm and commodities held a decline. Equities slid in Japan, Hong Kong and China, where Beijing is deepening a crackdown on private industry. U.S. futures retreated after modest S&P 500 and Nasdaq 100 gains during a choppy overnight session. Treasuries held a climb and the dollar was around a nine-month high. In China, state media scrutiny of online health care and medical beauty firms kept the focus on the government’s clampdown. Regulators also told China Evergrande Group to resolve debt problems, weighing on the bonds of a company that poses a potential systemic risk to the second-largest economy. The delta strain is stoking doubts about achieving herd immunity to underpin economic reopening, just as Chinese activity slows and the Federal Reserve eyes a gradual reduction of emergency stimulus. That mix puts global stocks and commodities on course for one of their worst weeks this year. Analysts cautioned that options expirations due Friday may be fueling volatility.

S&P 500 futures fell 0.3% as of 10:51 a.m. in Tokyo. The S&P 500 rose 0.1%

Nasdaq 100 contracts lost 0.1%. The Nasdaq 100 climbed 0.5%

Japan’s Topix index shed 0.5%

Australia’s S&P/ASX 200 index added 0.2%

South Korea’s Kospi index was up 0.9%

Hong Kong’s Hang Seng index slid 1.1%

China’s Shanghai Composite index fell 1%

SGX Nifty was down 1.12%

20 Aug 2021, 07:32:57 AM IST

US indices mixed at market close

The S&P 500 closed higher after swinging between gains and losses throughout most of the session, while the Cboe Volatility Index was on track for its biggest weekly surge since January. An earlier equity slide was driven by anxiety over the withdrawal of Federal Reserve stimulus, the coronavirus and global supply chains. Metals prices slumped as part of a selloff that extended to agriculture and oil.

The S&P 500 rose 0.1% as of 4 p.m. New York time

The Nasdaq 100 rose 0.5%

The Dow Jones Industrial Average fell 0.2%

The MSCI World index fell 0.7%

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