Home >Markets >Stock Markets >Sensex soars 288 points, Nifty ends above 11,500; banks, pharma stocks shine
On Monday, the Sensex ended 98 points lower at 38,756.63 while the Nifty ended at 11,440.05, down 24 points. (Photo: Reuters)
On Monday, the Sensex ended 98 points lower at 38,756.63 while the Nifty ended at 11,440.05, down 24 points. (Photo: Reuters)

Sensex soars 288 points, Nifty ends above 11,500; banks, pharma stocks shine

  • S&P Global has said it now expects India’s GDP to shrink 9% this fiscal against its earlier estimate of a 5% contraction. It said rising coronavirus cases will keep private spending and investment under pressure for longer than anticipated

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15 Sep 2020, 03:51:44 PM IST

Sensex reclaims 39,000, Nifty closes above 11,500

In volatile trade on Tuesday, Sensex closed 288 points, or 0.7%, higher at 39,044.35 while Nifty settled 82 points up at 11,521.80.

BSE MidCap and SmallCap indices outperformed the benchmarks, closing 0.8% and 1.4% higher, respectively.

Nifty Pharma rose the most among sectoral indices, up over 2% followed by Nifty Private Bank, Nifty Financial Services and Nifty IT. Nifty Auto and Nifty FMCG closed in the red.

IndusInd Bank, Cipla, UPL, Axis Bank and Bharti Airtel were the top gainers on the Nifty50 while Titan, Maruti Suzuki, HDFC Life Insurance, Eicher Motors and ITC fell the most.

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15 Sep 2020, 03:28:20 PM IST

Peace and tranquility along border have impact on India-China bilateral relations, says Rajnath Singh in LS: PTI

There was a face-off in Galwan on 15 June in which Indian forces inflicted heavy casualties on Chinese forces, said defence minister Singh, adding that China's violent conduct along LAC is violation of all existing agreements.

15 Sep 2020, 03:22:27 PM IST

Max India to reduce capital by up to 20% at ₹85 apiece: BSE filing

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15 Sep 2020, 03:19:46 PM IST

Top losers on BSE

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15 Sep 2020, 03:18:44 PM IST

Top gainers on BSE

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15 Sep 2020, 03:05:58 PM IST

Steel Strips Wheels reports ₹38 crore loss for Q1 vs ₹14.7 crore profit year ago: BSE filing

Steel Strips Wheels on Tuesday reported a loss of 38.1 crore for the June quarter compared with a profit of 14.71 crore a year ago. Revenue fell over 74% year-on-year to 120.3 crore in the period under review.

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15 Sep 2020, 03:00:40 PM IST

Cabinet approves setting up of new AIIMS at Darbhanga, #Bihar

15 Sep 2020, 02:56:52 PM IST

Volume toppers on Sensex

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15 Sep 2020, 02:48:32 PM IST

Nifty gainers/losers

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15 Sep 2020, 02:45:51 PM IST

India can either privatise Air India or close it down: Minister Puri

15 Sep 2020, 02:42:32 PM IST

Sensex stocks at this hour

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15 Sep 2020, 02:25:22 PM IST

European stocks higher: Bloomberg

European stocks climbed for a third day, supported by improving Chinese economic data and positive results coming from retailers. U.S. equity futures advanced and the euro strengthened. The Stoxx Europe 600 Index rose 0.4%.

15 Sep 2020, 02:23:21 PM IST

US issues new advisory warning against travel to mainland China, Hong Kong

15 Sep 2020, 02:17:26 PM IST

Sensex near day's high

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15 Sep 2020, 02:10:32 PM IST

Maruti worst hit stock on Sensex at this hour

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15 Sep 2020, 02:07:28 PM IST

India rupee ends at 73.64 per dollar vs Monday's close of 73.48/$

15 Sep 2020, 01:58:17 PM IST

HCL Tech extends gains from Monday

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15 Sep 2020, 01:55:10 PM IST

IEA says oil market more fragile as resurgent virus hurts demand: Bloomberg

The outlook for global oil markets has grown “even more fragile" as a resurgent pandemic derails the recovery in demand, the International Energy Agency said.

The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories -- which rebounded to record levels in July -- won’t subside as sharply as anticipated.

15 Sep 2020, 01:52:35 PM IST

Change Air India's structure, don't sell it, says TMC MP Trivedi: ANI

15 Sep 2020, 01:40:18 PM IST

Parliamentary panel strongly scrapping LTCG tax for all investments in startups: CNBC-TV18

15 Sep 2020, 01:31:52 PM IST

It's very likely that roll-out of COVID-19 vaccine will take place in fairly big volume in India sometime next year: Bill Gates to PTI

I'm quite optimistic that by first quarter of next year, several of COVID-19 vaccines will have final stage: Bill Gates to PTI.

15 Sep 2020, 01:28:25 PM IST

Covid-19 and high operating costs mar Sail’s Q1 results, stock down

SAIL on Monday reported a consolidated net loss of 1,226.47 crore for the quarter ended June, primarily due to reduced income.

The company had posted 102.68 crore net profit in the year-ago quarter.

During the quarter under review, the company's total income declined to 9,346.21 crore from 14,998.20 crore in the year-ago period.

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15 Sep 2020, 01:26:03 PM IST

PM Modi launches seven urban projects in poll-bound Bihar

Prime Minister Narendra Modi on Tuesday inaugurated and laid the foundation stone for seven urban transformation projects - six under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and one under the Namami Gange Mission.

15 Sep 2020, 01:24:53 PM IST

NHAI's won't set a reserve price for fifth TOT round

In a departure, the National Highways Authority of India (NHAI) will stay away from setting a reserve price to the newest round of toll-operate-transfer (TOT) auctions for government-owned roads. This move comes after the highest bids received were below the base price in the second and fourth round of auctions and investors are hesitant to commit large amounts of capital for public infrastructure amid covid-related uncertainty.

15 Sep 2020, 01:17:13 PM IST

Power Finance approves ₹150 crore infusion in JV: BSE filing

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15 Sep 2020, 01:14:51 PM IST

PVR down after weak June quarter results

Leading multiplex chain operator PVR Ltd on Monday reported a consolidated net loss of 226 crore for the June quarter as cinemas remained shut amid the covid-19 pandemic.

The company had posted a net profit of 17.53 crore in the year-ago period, PVR said in a BSE filing.

Revenue from operations slumped to 12.70 crore from 880.39 crore in the corresponding quarter of the previous fiscal.

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15 Sep 2020, 01:01:04 PM IST

FM introduces IBC (Second Amendment) Bill, 2020

15 Sep 2020, 12:59:41 PM IST

Reliance wipes out gains, turns positive

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15 Sep 2020, 12:58:52 PM IST

Nifty broad market indices

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15 Sep 2020, 12:50:02 PM IST

Facebook official refuses to appear before Delhi assembly panel

15 Sep 2020, 12:49:29 PM IST

Market check

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15 Sep 2020, 12:47:24 PM IST

ITC worst hit stock on Sensex at this hour

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15 Sep 2020, 12:37:48 PM IST

Finance ministry says provisional GST dues between April and July at ₹1,51,365 crore: CNBC-TV18

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15 Sep 2020, 12:34:56 PM IST

HDFC Bank cuts Base Rate by 55 bps to 7.55%, effective 11 September

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15 Sep 2020, 12:27:06 PM IST

Indian women at 2.7x higher risk of covid death than white women: Report

15 Sep 2020, 12:25:55 PM IST

South Korea to secure early supply of covid vaccines for 60% of population: Reuters

15 Sep 2020, 12:24:52 PM IST

Flipkart Big Billion Days sale to create 70,000 direct jobs this festival season

Walmart-owned e-commerce major Flipkart today announced that its Big Billion Days sale will lead to 70,000 direct jobs during the upcoming festival season. "While creating direct job opportunities across Flipkart's supply chain, that include delivery executives, pickers, packers and sorters, there will also be additional indirect jobs created at Flipkart's seller partner locations and kiranas," Flipkart said in a release.

15 Sep 2020, 12:21:01 PM IST

Dalmia Bharat up 5%; Street cheers completion of Murli acquisition

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15 Sep 2020, 12:10:52 PM IST

Bajaj Finance among top gainers on Sensex

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15 Sep 2020, 11:47:43 AM IST

Nifty check

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15 Sep 2020, 11:46:27 AM IST

Market check

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15 Sep 2020, 11:39:48 AM IST

Rupee view: Anuj Gupta - DVP- Commodities and Currencies Research, Angel Broking

"Yesterday (Monday) USD-INR appreciated by 0.09% and closed at 73.47 levels...As of today, we are expecting more appreciation may be seen in Indian rupee.Traders can sell USDINR at 73.40 levels with the stoploss of 73.80 and for the target of 72.80 levels. Rupee may test 72.00 soon."

15 Sep 2020, 11:34:55 AM IST

Asia’s economy to shrink, first time since 1960s: ADB

Asia’s coronavirus-battered economy will shrink for the first time since the early 1960s, with the level of output next year seen below pre-pandemic projections even as growth recovers, Bloomberg reported citing Asian Development Bank.

The region’s gross domestic product will decline by 0.7% in 2020, down from June’s projection of an increase of 0.1%, the Manila-based bank said in a report Tuesday. A contraction this year would be the first since 1962, Yasuyuki Sawada, the ADB’s chief economist, said in a live-streamed briefing.

15 Sep 2020, 11:32:20 AM IST

Nifty Auto under pressure

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15 Sep 2020, 11:20:32 AM IST

Minda Industries raises ₹242 crore via rights issue: BSE filing

Minda Industries on Tuesday said it has raised over 242 crore via a rights issue to existing investors. In June, the board of Minda Industries had approved issuance of equity shares by way of a rights issue to eligible equity shareholders of the company for an aggregate amount not exceeding 250 crore.

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15 Sep 2020, 11:17:15 AM IST

SoftBank’s Masayoshi Son has cash burning a hole in his pocket: WSJ

Over the past six months, technology investor SoftBank Group Corp. has signed more than $90 billion in deals to sell some of its most valuable holdings—most recently, U.K. chip designer Arm Holdings.

Now the big question is: What will the Japanese conglomerate do with all that money?

SoftBank has committed to spend about half the sum to buy back its own shares and pay down debt, and it has said it needs lots of extra cash to bolster its balance sheet in uncertain times.

15 Sep 2020, 11:07:36 AM IST

Sensex off highs as RIL, ITC, TCS under pressure

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15 Sep 2020, 11:06:01 AM IST

SmallCap index outperforms Sensex

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15 Sep 2020, 11:05:10 AM IST

BSE MidCap extends gains from Monday

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15 Sep 2020, 10:56:26 AM IST

Pfizer rises on vaccine news

Pfizer Inc and BioNTech SE have proposed expanding their phase 3 pivotal covid-19 vaccine trial to about 44,000 participants, while increasing the diversity of the trial population.

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15 Sep 2020, 10:50:13 AM IST

Indian economy to contract 9% in FY21: ADB

In its Asian Development Outlook (ADO) 2020 update, ADB projected a strong recovery for the Indian economy in 2021-22, with gross domestic product (GDP) estimated to grow 8%.

15 Sep 2020, 10:46:40 AM IST

Indian rupee rises to 73.33 per dollar vs Monday's close of 73.48/$

15 Sep 2020, 10:42:33 AM IST

Trump to host signing ceremony for Israel's historic deal with UAE, Bahrain: PTI

15 Sep 2020, 10:39:35 AM IST

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

"...11400-11350 would be seen as crucial supports. The kind of sudden fall we witnessed yesterday, clearly suggests that we are still not out of the woods and hence, it’s a kind of reality check for complacent buyers that we are going to see at regular intervals till the time uncertainty gets eliminated. Hence, it’s advisable to continue with a stock specific approach but at the same time, it’s important to take timely profits and avoid aggressive bets overnight."

15 Sep 2020, 10:33:34 AM IST

Nifty Financial Services also rises

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15 Sep 2020, 10:22:40 AM IST

Nifty Pharma top performer among sectoral indices so far today

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15 Sep 2020, 10:21:25 AM IST

Steel Strips Wheels gets new orders worth over euro 45,000

The company has received export orders of nearly 5,100 wheels for the EU caravan trailer market. The order is to be executed in October from its Chennai plant.

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15 Sep 2020, 10:18:36 AM IST

Top contributors to Sensex gains

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15 Sep 2020, 10:11:59 AM IST

Indian rupee opens higher at 73.38 per dollar vs Monday's close of 73.48/$

15 Sep 2020, 10:11:00 AM IST

Gold, silver higher ahead of US Fed meeting

Gold and silver rose on Tuesday ahead of US Federal Reserve’s policy meeting while a relentless rise in covid-19 cases also boosted their demand. India's case count neared the 50-lakh mark.

Gold futures on MCX were up 0.3% at 51,890 per 10 grams, while silver rose 463 to 69,428 per kg.

15 Sep 2020, 10:08:22 AM IST

Sun Pharma top gainer on Sensex at this hour

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15 Sep 2020, 10:03:03 AM IST

EverSource Capital plans to buy out Azure Power’s solar rooftop portfolio for around $112 million

EverSource Capital plans to buy out the entire 167 MW solar rooftop portfolio of NYSE-listed Azure Power Global for around $112 million, said two people aware of the development.

The sales process for International Finance Corporation (IFC) and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) backed one of India’s largest solar rooftop portfolio is being run by KPMG.

15 Sep 2020, 10:02:02 AM IST

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

"We are trading above the 11500 levels but I would still look out for the Nifty to trade in the 11550-11575 trading zone as that would signal that we are entering into a bullish zone. The support continues to be around the 11300 levels."

15 Sep 2020, 09:48:55 AM IST

China’s recovery picks up speed on rebound in retail sales: Bloomberg

China’s economic recovery sped up in August, led by the first growth in retail sales data since Covid-19 hit early in the year and an acceleration in industrial output.

Retail sales gained 0.5% in August from a year earlier, while industrial production rose 5.6% in the period, the National Bureau of Statistics said Tuesday.

In the first eight months of the year, retail sales fell 8.6% and industrial production increased 0.4%, the first time it’s risen this year. Fixed-asset investment shrank 0.3%.

15 Sep 2020, 09:46:32 AM IST

Divi's Labs rises

The company has said it has developed a process to manufacture Hydroxychloroquine and Favipiravir (used for treatment of Covid-19) from indigenous raw materials.

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15 Sep 2020, 09:43:43 AM IST

ICICI Bank up nearly 2%

The private sector lender on Monday said it has got exemption from paring stake in its life and non-life subsidiaries to 30% for a period of three years.

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15 Sep 2020, 09:28:39 AM IST

Nifty sectoral indices

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15 Sep 2020, 09:24:05 AM IST

Sensex stocks

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15 Sep 2020, 09:22:05 AM IST

Nifty in opening deals

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15 Sep 2020, 09:20:12 AM IST

Sensex in opening deals

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15 Sep 2020, 09:07:02 AM IST

Sensex stocks at pre-open

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15 Sep 2020, 09:06:09 AM IST

Nifty at pre-open

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15 Sep 2020, 09:05:24 AM IST

Sensex at pre-open

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15 Sep 2020, 08:56:21 AM IST

Tensions simmer as China accuses India of illegally crossing LAC

The border dispute between India and China simmered on Monday with China’s envoy to India Sun Weidong reiterating Beijing’s claims that New Delhi had illegally crossed the Line of Actual Control (LAC) between the two countries to change the status quo.

The comments from the Chinese embassy in New Delhi came days after the foreign ministers of the two countries—S. Jaishankar of India and Wang Yi of China—met in Moscow and seemed to have worked out a temporary truce. It comes ahead of another meeting of senior military commanders expected this week to work out a disengagement plan.

15 Sep 2020, 08:52:51 AM IST

Encounter underway between security forces, militants in Pulwama: PTI

15 Sep 2020, 08:37:41 AM IST

Nifty view: Siddhartha Khemka, head, retail research, Motilal Oswal Financial Services

“Going ahead, the market is likely to consolidate in near term with positive bias. All eyes would be on central banks globally as US Fed along with its peers European Central Bank, Bank of England and Japan would meet this week. Investors would also be looking at the developments around the Covid vaccine and UK Vote on Brexit. Mid-cap/Small-cap companies have been relative outperformers in CY20 and the momentum may continue in the near term. Thus any weakness in the market should be looked as a buying opportunity to add quality stocks in the portfolio as the overall long term market trend remains positive.

Technically, Nifty has to hold above 11330-11350 zones, to witness an up move towards 11550-11600 zones while on the downside medium term support exists at 11200-11180 zones."

15 Sep 2020, 08:35:36 AM IST

EPF withdrawal soared to ₹39,400 cr during lockdown: Govt

Salaried employees withdrew a massive 39,400 crore from Employees’ Provident Fund (EPF) accounts between 25 March and 31 August as covid-19 hit lives and livelihood of millions of workers, the Union labour ministry informed the Lok Sabha on Monday.

Of the total 10.4 million salaried workers who dipped into their retirement savings in this period, at least 8.2 million are those who earn a salary of less than 15,000 per month each, reflective of the hardship the bottom of the pyramid faced during the lockdown imposed to check the spread of covid-19 and the ensuing income and job loss.

15 Sep 2020, 08:34:31 AM IST

India will get back to high growth again, says CEA

A surge in coronavirus cases notwithstanding and the pandemic’s shock to the economy, all is not that gloomy as many sectors are on a recovery path and the reforms undertaken will deliver a long-lasting growth impetus, according to Krishnamurthy Subramanian, chief economic adviser in the finance ministry. In an interview to Mint, Subramanian said there is a case for focusing on consumption, but cash hand-outs are not the answer as people tend to save defensively

15 Sep 2020, 08:15:05 AM IST

Crude oil under pressure

Oil prices inched lower on Tuesday as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses, Reuters reported.

Brent crude was down 3 cents, or 0.1%, at $39.58 a barrel in Asian deals, reversing earlier gains. U.S. West Texas Intermediate (WTI) crude futures were down 2 cents, or 0.1%, at $37.24 a barrel.

15 Sep 2020, 08:05:41 AM IST

Stocks to Watch

Shares of Reliance Industries, Tata Motors, Infosys, banks will be in focus in today's trade.

Vedanta, SpiceJet, Max India, Alankit, Allcargo Logistics, ARSS Infrastructure Projects, DB Realty, Future Enterprises, among 600 others, will announce their June quarter results today.

15 Sep 2020, 08:01:45 AM IST

SGX Nifty higher in early deals

Indian markets will likely open higher, tracking overnight gains in US peers, with the SGX Nifty futures up 0.3% at 11,470.20 in early deals.

On Monday, Sensex and Nifty snapped two sessions of gains to end a tad lower, dragged by banks and heavyweight Reliance Industries. But a rally in IT stocks capped losses. The NSE Nifty 50 index closed 0.21% lower at 11,440 while the S&P BSE Sensex ended about 100 points lower at 38,756 after rising to 38,573 intraday.

15 Sep 2020, 07:58:52 AM IST

Asian stocks cautious, await US Fed meeting outcome

Asian stocks drifted Tuesday as investors focused on the outcome of a Federal Reserve meeting for clues on monetary policy as economies recover from the pandemic. The yuan added to gains that lifted it to the highest this year.

Japan's Topix index fell 1%, Australia’s S&P/ASX 200 Index was little changed and South Korea’s Kospi index was flat. Hong Kong’s Hang Seng Index was little changed while Shanghai Composite Index fell 0.4%.

15 Sep 2020, 07:55:29 AM IST

US equities end higher Monday as vaccine hope boost investor optimism

After days of losses, US stocks ended sharply higher on Monday as signs of progress in developing a covid-19 vaccine and a spurt of multibillion-dollar deals lifted investor optimism, Reuters reported.

Gains were broad-based, with all of the S&P 500 sectors ending in positive territory and real estate and technology leading gains.

The Dow Jones Industrial Average rose 327.69 points, or 1.18%, to 27,993.33, the S&P 500 gained 42.57 points, or 1.27%, to 3,383.54 and the Nasdaq Composite added 203.11 points, or 1.87%, to 11,056.65.

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