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Asian stocks rose as earnings from companies including Fanuc Corp. boosted sentiment. Photo: Reuters
Asian stocks rose as earnings from companies including Fanuc Corp. boosted sentiment. Photo: Reuters

Indices shed losses, end marginally higher

  • US stocks had tumbled Friday led by a rout in tech stocks while Asian equities got off to a shaky start on Monday. Oil prices slumped on fading optimism about a recovery in global demand amid the coronavirus pandemic

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07 Sep 2020, 03:47:18 PM IST

Indian equities shed losses, end marginally higher in volatile trade

Swinging between losses and gains, Indian equities on Monday ended marginally higher, snapping two straight days of losses. The recovery was largely fuelled by banking stocks.

The benchmark Sensex ended 60 points higher at 38,417, while the Nifty50 closed at 11,375, up 41 points. In the broader market the Nifty Smallcap 100 index closed higher and the Nifty Midcap 100 ended nearly 1% lower.

The S&P BSE MidCap and SmallCap indexes traded half a per cent higher, each.

About 1,212 shares advanced, 1,461 declined, and 187 shares were unchanged.

Bharti Infratel, HDFC Life, Dr Reddy’s Labs, HUL, and ITC were among major gainers on the Nifty, while M&M, UPL, GAIL, Bajaj Finance and NTPC were hit.

Among sectors, FMCG and IT indices ended in the green, while selling witnessed in the auto, bank, energy and infra names.

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07 Sep 2020, 03:28:45 PM IST

Nifty check

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07 Sep 2020, 03:27:49 PM IST

Market check

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07 Sep 2020, 03:25:22 PM IST

Most active stocks on Nifty

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07 Sep 2020, 03:24:18 PM IST

Volume toppers on BSE

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07 Sep 2020, 03:22:18 PM IST

Delhi Cabinet decides to convene one-day session of Assembly on 14 September: PTI

07 Sep 2020, 03:20:31 PM IST

RBI to release KV Kamath panel's recommendations today evening: CNBC-TV18

07 Sep 2020, 03:17:30 PM IST

SBI invokes personal guarantees of Bhushan Power & Steel promoter: Report

The State Bank of India (SBI) has invoked the personal guarantees of Sanjay Singal, promoter of Bhushan Power & Steel Ltd, after the company defaulted on loans worth 48,000 crore to a consortium of banks, Business Standard has reported.

The company's debt resolution is almost ready, with JSW Steel declared the highest bidder with 19,700-crore as an offer for the company.

The matter is pending before the Supreme Court which is expected to come out with its verdict in next two weeks

07 Sep 2020, 03:15:47 PM IST

Maruti Suzuki reports 11% rise in August production.

Maruti Suzuki India's August production rose 11.1% year-on-year to 1,23,769 units from 1,11,370 units.

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07 Sep 2020, 03:10:55 PM IST

Fitch revises India FY21 fiscal deficit forecast to 8.2% of GDP from 7.2%: CNBC-TV18

07 Sep 2020, 03:09:33 PM IST

Fugitive diamantaire Nirav Modi's extradition trial begins at Westminster Magistrate's Court in London

07 Sep 2020, 03:01:16 PM IST

Russia to complete early-stage trials on second covid-19 vaccine on 30 Sept

Russia will complete early-stage trials on a second potential covid-19 vaccine produced by the Vector Institute on 30 September, Reuters reported citing RIA news agency quoting the country's consumer health safety watchdog as saying on Monday.

07 Sep 2020, 02:58:53 PM IST

SBI prices riskiest bond at record-low cost: Bloomberg

State Bank of India has priced one of the riskiest bank capital securities at a record-low coupon, in the latest sign that investors are confident policy makers’ stimulus steps will help large issuers weather the coronavirus pandemic.

India’s biggest bank will sell 4,000 crore ($545 million) of the so-called Additional Tier 1 bonds at a coupon of 7.74%. That’s the lowest pricing on such debt, which can be fully written down in a crisis, issued by any lender since the country started implementing the stringent Basel III capital rules in 2013.

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07 Sep 2020, 02:56:46 PM IST

Tata Motors DVR surges 11% after Tata Sons buys shares worth ₹30 crore

On Friday, Tata Sons and bought 5.3 million shares, or 1.04% of the equity of Tata Motors DVR, at 56.02 per share on the NSE via bulk deal, as per exchange data.

07 Sep 2020, 02:55:09 PM IST

Delhi HC saks SpiceJet to pay ₹243 crore to Marans

The Delhi High Court on Monday directed low-cost carrier SpiceJet to deposit 243 crore with the court registry in an ongoing arbitration case with the airline’s former owner Kalanithi Maran and his firm KAL Airways.

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07 Sep 2020, 02:47:04 PM IST

EPFO board to meet 9 Sep to seek nod to sell ETF investments: CNBC-TV18

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07 Sep 2020, 02:35:45 PM IST

Future Lifestyle Fashions June quarter loss at ₹353 crore

Future Lifestyle Fashions on Monday reported a consolidated net loss of 352.95 crore for the quarter ended June. It had posted a net profit of 24.54 crore in the year-ago period.

Total income in the quarter under review was at 96.38 crore, down from 1,551.11 crore a year ago, the company said in a regulatory filing.

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07 Sep 2020, 02:33:09 PM IST

Samsung wins $6.6 bin 5G Verizon deal, Huawei struggles

Samsung Electronics Co. won a 7.9 trillion won ($6.6 billion) order to provide fifth-generation wireless solutions to Verizon Communications Inc. in the US, Bloomberg reported.

The contract was finalized Friday and is valid from 30 June through December 2025, it said in a regulatory filing.

The deal marks one of Samsung’s biggest 5G contracts since South Korea’s largest corporation decided years ago to invest in networking and compete with global players like Nokia Oyj and Ericsson in providing telecom equipment.

07 Sep 2020, 02:27:18 PM IST

Asian Paints top gainer on Sensex

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07 Sep 2020, 02:22:30 PM IST

Rupee ends at 73.34 per dollar vs Friday's close of 73.14/$

07 Sep 2020, 02:12:11 PM IST

Top losers on BSE

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07 Sep 2020, 02:06:20 PM IST

Top gainers on BSE at 2pm

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07 Sep 2020, 01:59:17 PM IST

Vodafone off highs after rebranding announcement

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07 Sep 2020, 01:47:42 PM IST

Fall in GDP alarming; time for bureaucracy to take meaningful action: Rajan

Terming the 23.9% fall in June quarter economic growth alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action, the Press Trust of India reported.

The current crisis requires a more thoughtful and active government, he said, adding “unfortunately, after an initial burst of activity, it seems to have retreated into a shell."

07 Sep 2020, 01:46:08 PM IST

UTI AMC to launch IPO in week of 14 September

Mutual fund manager UTI Asset Management Co. Ltd (UTI AMC) plans to launch its 3,000 crore initial public offering (IPO) in the week of 14 September, as the company’s existing shareholders look to tap the recovery in the IPO market to meet regulatory requirements.

“The plan is to launch the deal in the week of 14 September, though final dates are yet to be frozen as there is a lot of supply hitting in the IPO market this month," said a person who is advising the company on its IPO plans, requesting anonymity as he is not authorized to speak with the media.

07 Sep 2020, 01:40:12 PM IST

Fitch cuts India FY21 GDP forecast to -10.5% from -5% earlier

07 Sep 2020, 01:31:35 PM IST

Nifty sectoral indices

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07 Sep 2020, 01:15:03 PM IST

Nifty gainers/losers

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07 Sep 2020, 01:12:01 PM IST

Sensex stocks at 0110pm

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07 Sep 2020, 01:02:32 PM IST

India test flies indigenously developed Hypersonic Technology Demonstrator Vehicle

India on Monday conducted a successful first test flight of the indigenously developed Hypersonic Technology Demonstrator Vehicle (HSDTV), joining the elite club of US, Russia and China.


The HSDTV has a range of uses, including missiles of the future, and energy-efficient, low cost and reusable satellite-launch vehicles.

07 Sep 2020, 12:59:59 PM IST

Happiest Minds IPO subscribed 99% till 1230 pm

07 Sep 2020, 12:51:12 PM IST

India rupee at 73.40 to a dollar vs Friday's close of 73.14

07 Sep 2020, 12:33:46 PM IST

Nifty check

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07 Sep 2020, 12:33:03 PM IST

Market check

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07 Sep 2020, 12:31:35 PM IST

Vodafone Idea launches unified brand - VI

Vodafone Idea Ltd on Monday launched an integrated brand - VI, two years after the completion of the merger of Vodafone India Ltd and Idea Cellular Ltd. Chief executive Ravindar Takkar said the unified brand has a strong and reliable network, and is built to meet the digital need of customers.

07 Sep 2020, 12:30:18 PM IST

German industrial production up for 3rd month in a row

Germany's industrial production rose for the third consecutive month in July, but gains were modest, official data showed Monday.

Production rose 1.2% compared with that of previous month. This followed gains of 7.4% in May and 9.3% in June as activity in Germany, Europe's biggest economy, recovered from big drops in March and April.

07 Sep 2020, 12:13:59 PM IST

Australia expects to get AstraZeneca's COVID-19 vaccine within months: Reuters

Australia expects to receive its first batches of a potential covid-19 vaccine in January, Prime Minister Scott Morrison said on Monday, as the number of new daily infections in the country's virus hotspot fell to a 10-week low.

Morrison said his government has struck a deal with CSL Ltd to manufacture two vaccines - one developed by rival AstraZeneca and Oxford University, and another developed in CSL's own labs with the University of Queensland.

07 Sep 2020, 12:02:52 PM IST

Asian stocks continue to struggle

Asian shares struggled for traction on Monday after two straight sessions of losses as investors grappled with sky-high valuations at a time when the global economy is in a coronavirus-induced recession while oil prices dropped sharply, Reuters reported.

European stock futures started in the black with those for eurostoxx 50 and Germany's Dax up 0.9% while London's FTSE futures rose 1%.

But the signal for Wall Street was gloomy - E-Mini futures for the S&P 500 slipped 0.5% and Nasdaq futures slid 1.3%, dragged lower by the exclusion of Tesla from a group of companies that were being added to the S&P 500.

U.S. markets will be closed on Monday for the Labour Day holiday.

MSCI's broadest index of Asia-Pacific shares outside Japan was last flat after two straight days of losses toppled it from a 2-1/2-year peak last week.

China's blue-chip index slipped 0.9% while shares of Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) plunged to the lowest since June 16 on fears China's largest chipmaker could be added to a U.S. trade blacklist.

07 Sep 2020, 11:51:55 AM IST

Nifty gainers, losers

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07 Sep 2020, 11:31:20 AM IST

Alembic Pharma arm gets tentative US FDA nod for Treprostinil injection

Alembic Pharmaceuticals on Monday said its subsidiary has received tentative approval from the US Food and Drug Administration for Treprostinil injection, indicated for treatment of pulmonary arterial hypertension.

The tentatively approved product is therapeutically equivalent to the reference listed drug product Remodulin injection of United Therapeutics Corp.

Citing United Therapeutics Corporation's 2019 financial results, Alembic Pharma said Treprostinil injection has an estimated market size of $466.1 million for the 12 months ended December 2019.

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07 Sep 2020, 11:26:20 AM IST

Revenues of 2,170 listed firms dip 24.3% in Q1

For the April-June quarter (Q1), India Inc numbers have perfectly mirrored the country’s macroeconomic headline, Business Standard reported.

The combined revenues of 2,170 listed firms was down 24.3% year-on-year in Q1, in line with the 23.9% contraction in India’s gross domestic product (GDP) for the period.

07 Sep 2020, 11:23:59 AM IST

Global market correction led by US tech stocks seen short-lived

The sustained run-up in US technology stocks in the US has drawn comparisons to the dotcom boom. The sharp sell-off seen in these stocks last week, which took its toll on global markets, has stoked fears of a bubble burst.

However, equity analysts say, while this correction was long overdue, it may not last for long.

"While tech-valuations remain elevated, they are far below dot.com bubble levels - with the added support of low rates today. We do not expect a significant sustained sell-off given the sector's relative attraction. Nonetheless, volatility is expected to be elevated in the near term," Nomura Inc said in a report on 7 September.

07 Sep 2020, 11:17:49 AM IST

Jubilant Life Sciences falls 5% on disappointing June quarter results

Jubilant Life Sciences on Friday reported a 52.4% year-on-year decline in its consolidated net profit for the June ended quarter to 88.01 crore.

Consolidated total revenue from operations was at 1,892.92 crore for the quarter, down from 2,181.86 crore in the year-ago period.

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07 Sep 2020, 11:06:02 AM IST

Nifty broad market indices

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07 Sep 2020, 11:00:03 AM IST

Vodafone Idea to launch a new brand identity today: CNBC-TV18

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07 Sep 2020, 10:56:23 AM IST

HUL top gainer on Sensex

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07 Sep 2020, 10:39:27 AM IST

M&M extends losses, now down 3%

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07 Sep 2020, 10:33:30 AM IST

Sensex stocks at 1032am

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07 Sep 2020, 10:31:45 AM IST

Happiest Mind Technologies' IPO: Angel Broking

"At upper price band it is offered at 23.6x FY2020 EPS. Considering the very high exposure to digital services and strong promoter background we expect that the company will continue to grow at a faster pace as compared to similar sized companies and therefore should command a premium valuation to the peer group. We would therefore recommend investors to SUBSCRIBE to the IPO," Yash Gupta, equity research associate, Angel Broking.

07 Sep 2020, 10:26:51 AM IST

India rupee at 73.16 per dollar on Monday vs Friday's close of 73.14

07 Sep 2020, 10:20:41 AM IST

Amul to invest ₹1,500 cr in 2 yrs to set up dairy, edible oil, potato processing

Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets dairy products under the Amul brand, will invest around 1,000 crore over the next two years to set up milk processing plants, and another 500 crore on facilities for new products like edible oil, its MD R.S. Sodhi said.

In an interview with PTI, Sodhi said the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) expects 12-15% growth in revenue in current fiscal year from 38,550 crore during the last fiscal year despite COVID-19 pandemic, as demand for branded food products has increased.

07 Sep 2020, 10:14:29 AM IST

Bharti Airtel among worst hit Sensex stocks

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07 Sep 2020, 10:06:45 AM IST

Nifty technicals: Sameet Chavan, chief analyst-technicals and derivatives, Angel Broking

“...On Friday, the selling once again resumed to close almost at the lowest point of the week...we may see immediate decline towards 11150-11000-10870 in near term. However, it is important to take a note that since the larger degree trend is strongly up, we would consider any decline as a corrective move within the up trend and hence, it will nowhere be closer or similar to March’s mayhem. In fact, it would certainly provide better opportunities to accumulate quality propositions for a longer run. In case, if market witnesses some bounce back, 11500-11650 remains to be a stiff hurdle. Also, it would now be very difficult for Nifty to surpass 11800 soon..."

07 Sep 2020, 09:53:42 AM IST

Nifty check

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07 Sep 2020, 09:52:29 AM IST

L&T Construction bags "large" orders

L&T Construction bags "large" orders--in the range of 2,500-5,000 crore--for its power transmission & distribution business, the company said in a filing to the exchanges.

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07 Sep 2020, 09:48:10 AM IST

India surpasses Brazil with second-highest covid cases in world

India on Monday surpassed Brazil to become the second-most affected country in the world by the coronavirus pandemic.

India has recorded 42,04,614 cases and is now behind the US which has 6.29 million covid-19 cases. Brazil has 4.14 million cases.

07 Sep 2020, 09:42:26 AM IST

Sterling & Wilson wins order worth ₹1,600 crore in Australia

The company said it has bagged two large scale solar projects in Australia which will have an installed capacity of over 300 MW.

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07 Sep 2020, 09:39:23 AM IST

M&M worst hit among Sensex stocks

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07 Sep 2020, 09:33:31 AM IST

Sensex stocks

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07 Sep 2020, 09:24:49 AM IST

Vodafone Idea soars ahead of "strategic" announcement

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07 Sep 2020, 09:23:46 AM IST

Nifty check

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07 Sep 2020, 09:20:48 AM IST

Sensex stocks

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07 Sep 2020, 09:19:46 AM IST

Market check: Opening deals

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07 Sep 2020, 09:14:02 AM IST

China posts a trade surplus of $58.93 billion for August

China’s dollar-denominated exports rose 9.5% for the month of August while imports fell 2.1% in the same period, data from the country’s General Administration of Customs showed on Monday.

07 Sep 2020, 09:07:46 AM IST

Sensex stocks at pre-open

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07 Sep 2020, 09:07:10 AM IST

Nifty at pre-open

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07 Sep 2020, 09:06:34 AM IST

Sensex, Nifty higher at pre-open

Benchmark indices rose in pre-open trade on Monday.

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07 Sep 2020, 08:50:18 AM IST

Happiest Minds Technologies' IPO to open today

IT services company Happiest Minds Technologies' initial public offering will open today and close on Wednesday.

The IPO comprises a fresh issue of 110 crore and an offer for sale aggregating up to 3,56,63,585 equity shares by promoter and investor. The issue is priced at 165-166 per equity share.

Happiest Minds plans to raise 702 crore via initial public offering, at higher end of the price band. Equity shares after the completion of public issue will be listed on the National Stock Exchange and on BSE Ltd.

07 Sep 2020, 08:34:03 AM IST

Gold ticks higher amid pandemic-induced uncertainty

Gold prices edged higher on Monday as the dollar slipped, with weak economic data out of the US at the end of last week raising fears over the global economic recovery from the COVID-19 slump, Reuters reported.

Spot gold was up 0.2% at $1,935.53 per ounce in early deals, after falling to a one-week low of $1,916.24 on Friday. U.S. gold futures rose 0.4% to $1,941.10.

07 Sep 2020, 08:31:14 AM IST

Oil prices slip in Asian trade

Oil prices dropped more than $1 a barrel, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months, Reuters reported.

Fading optimism about demand recovery amid the coronavirus pandemic also weighed. U.S. crude fell 1.3% to $39.24 a barrel. Brent crude skidded 1.1% to $42.16.

07 Sep 2020, 08:17:12 AM IST

Stocks to Watch

Shares of Reliance Industries, Maruti Suzuki, State Bank of India, Vodafone Idea, among others, will be in focus today. A total of 52 companies are expected to report their earnings today, including CG Power and General Insurance Corporation of India.

07 Sep 2020, 08:12:29 AM IST

SGX Nifty down 0.6%

Indian equities will likely open lower on Monday as indicated by SGX Nifty futures which was down 0.59% at 11,307.50 in early deals. On Friday, the Sensex had crashed 633 points or 1.6% lower to 38,357 while the Nifty closed 193 points at 11,333.

07 Sep 2020, 08:08:12 AM IST

Asian stocks wobbly in early deals

Asian shares were on the defensive on Monday as investors grappled with sky-high valuations against the backdrop of a global economy in the grip of a deep coronavirus-induced recession while oil prices dropped sharply, Reuters reported.

Chinese stocks started lower while shares of Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) plunged to the lowest since June 16 on fears the firm could be added to a U.S. trade blacklist.

Japan's Nikkei fell 0.4% with SoftBank coming under heavy selling following media reports it has spent at least $4 billion buying call options on listed U.S. technology stocks.

Australian shares, which had opened in the red, reversed losses to edge up 0.1% led by miners, while South Korea added 0.4%.

That left MSCI's broadest index of Asia-Pacific shares outside Japan barely changed after two straight days of losses toppled it from a 2-1/2-year peak last week.

07 Sep 2020, 08:05:02 AM IST

US equities tumble on tech rout

On Friday, US equities suffered a sell-off, largely led by tech stocks. The Dow Jones Industrial Average fell 160.96 points, or 0.57%, to 28,131.77, the S&P 500 lost 28.31 points, or 0.82%, to 3,426.75 and the Nasdaq Composite dropped 144.97 points, or 1.27%, to 11,313.13.

Investors dumped heavyweight technology stocks due to concerns about high valuations and a patchy economic recovery.

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