Home >Markets >Stock Markets >Sensex gives up 39,000-level, Nifty sub-11,520; banks, financials among most hit
Investors are piling into FAANG shorts as US stocks continue to breach new records, with the Nasdaq Composite Index surging above 8,000 for the first time Tuesday.
Investors are piling into FAANG shorts as US stocks continue to breach new records, with the Nasdaq Composite Index surging above 8,000 for the first time Tuesday.

Sensex gives up 39,000-level, Nifty sub-11,520; banks, financials among most hit

  • The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the US economy recover from the coronavirus pandemic

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17 Sep 2020, 03:53:41 PM IST

Sensex, Nifty tank as border tension, US Fed statement hurt investor sentiment

Indian equities ended deep in the red on Thursday, dragged down by losses in banks and index heavyweights Reliance Industries, TCS, and HDFC twins. Border tensions with China and a negative trend in global peers, following US Fed's caution on economic recovery, dented investor appetite.

The Sensex ended 323 points lower at 38,980 while the Nifty lost 88 points to settle at 11,516. Midcap and Smallcap indices also ended lower, snapping three days' of gains.

Nifty Bank, PSU Bank, Financial Services, and Metal were among the worst hit sectoral indices - all down over 1%each. Nifty IT, Media and Pharma were the only ones to end higher.

Dr Reddy's, Zee, HCL Tech, Infosys and Maruti were the top gainers on the Nifty, while Hindalco, Tata Motors, Shree Cements, Bajaj Finserv and Bharti Infratel led losses.

Happiest Minds Technologies made a stellar stock exchange debut, listing at 111% premium to its issue price.

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17 Sep 2020, 03:23:18 PM IST

Power Grid gets govt nod to monetise co's assets held in SPVs via InvIT

17 Sep 2020, 03:20:53 PM IST

Lok Sabha adjourned for an hour after paying tributes to sitting member Balli Durga Prasad Rao who died on Wednesday: PTI

17 Sep 2020, 03:20:19 PM IST

Skoda launches automatic version of Rapid

17 Sep 2020, 03:19:22 PM IST

Credit card firms explore ways to get repayments

Credit card companies are incentivizing those willing to pay their dues following the repayment moratorium, while some have increased penalties for errant customers in a move to check defaults.

India’s largest credit card company, SBI Card, is encouraging customers to avail of its own repayment plan or the Reserve Bank of India’s (RBI’s) restructuring scheme to repay their dues.

Under its internal scheme, titled Easy Repayment Scheme, customers can convert the outstanding dues into a 15-month loan at a lower interest rate of 13% by paying an irregularity amount.

17 Sep 2020, 03:16:24 PM IST

Most active stocks on Nifty

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17 Sep 2020, 03:03:55 PM IST

Bloodbath on Sensex; HCL Tech, Infosys only gainers

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17 Sep 2020, 03:02:28 PM IST

Sensex near day's lows

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17 Sep 2020, 02:57:44 PM IST

Over 40 lakh cured of coronavirus so far in India

A record single-day increase of 97,894 infections pushed India's covid-19 tally to over 51 lakh today while the number of people who have recovered from the infection crossed 40 lakh. Total coronavirus cases in the country rose to to 51,18,253, while the death toll climbed to 83,198.

17 Sep 2020, 02:51:35 PM IST

Nifty top gainers/losers

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17 Sep 2020, 02:50:54 PM IST

Top losers on BSE at this hour

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17 Sep 2020, 02:46:37 PM IST

Top gainers on BSE at this hour

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17 Sep 2020, 02:39:53 PM IST

IRDAI to introduce new solvency norms

The Insurance Regulatory and Development Authority of India, or Irdai, is planning to introduce a new risk-based solvency system and strengthen risk-management rules to ensure that Indian insurance companies are equipped with better capital adequacy to deal with socio-economic shocks such as the covid-19 pandemic, chairman S C Khuntia said on Thursday.

17 Sep 2020, 02:26:43 PM IST

BSE SmallCap lower

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17 Sep 2020, 02:25:47 PM IST

BSE MidCap snaps three days' of gains, in the red

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17 Sep 2020, 02:18:47 PM IST

Rupee ends at 73.65 per dollar vs Wednesday's close of 73.52/$

17 Sep 2020, 02:18:01 PM IST

No force can stop Indian troops from patrolling Ladakh border: Rajnath Singh

17 Sep 2020, 02:10:15 PM IST

European stocks tick lower as Fed cautions on economic recovery

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17 Sep 2020, 02:06:09 PM IST

Govt asks auto companies to cut costs, royalty payouts to lower prices

Automakers should lower costs, cut royalty payouts to foreign parents and improve efficiency to reduce the purchase price of cars rather than expecting the government to lower tax rates, a senior finance ministry official said on Thursday.

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17 Sep 2020, 02:02:03 PM IST

Stock recommendations: Angel Broking

VIP Industries

CMP:- Rs325 Target Price :- Rs375 Upside:-15%

VIP Industries Ltd (VIP) is the largest luggage player in India with ~50%+ market share in the organised market. It has been able to create successful sub brands like Carlton, VIP Bags, Skybags, Aristocrat, Alfa and Caprese. The recent correction has given the investors an opportunity (long term perspective) to invest in a market leader with a strong brand & wide distribution network.

2) Hawkins Cookers CMP:- Rs5,211 Target Price :- Rs5,992 Upside:-15%

Hawkins Cookers Ltd (HCL) operates in two segments i.e. Pressure Cookers and Cookware. Over the last two years, the company has outperformed TTK Prestige (market leader) in terms of sales growth ~13% vs. ~4% in the Cookers & Cookware segment. Going forward, we expect HCL to report healthy top-line & bottom-line growth on the back of gaining market share, increase in penetration of cooking gas, strong brand name & wide distribution network and healthy demand for kitchen product post Covid-19.

3) Endurance Technologies CMP:- Rs1,117 Target Price :- Rs1,285 Upside:-15%

Endurance Technologies Ltd is one of India’s leading automotive component manufacturers with operations in India and Europe. It mainly caters to two and three-wheeler OEMs in India and supplies aluminum casting products to four-wheeler OEMs in Europe. Pent up demand and consumer preference for personal transportation is positive for domestic 2W companies, which would benefit Endurance

17 Sep 2020, 01:51:02 PM IST

Dr Reddy's extends gains

Dr. Reddy's announces the launch of over-the-counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the store-brand

equivalent of Pataday, the eye allergy drop, in the US.

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17 Sep 2020, 01:48:38 PM IST

Human Capital Index 2020: India ranks 116 in World Bank’s annual report

The 2020 Human Capital Index update includes health and education data for 174 countries – covering 98% of the world’s population – up to March 2020, providing a pre-pandemic baseline on the health and education of children, with the biggest strides made in low-income countries.

17 Sep 2020, 01:40:28 PM IST

Over 14 lakh Indian citizens brought back to country during covid-19 pandemic: MEA

17 Sep 2020, 01:39:33 PM IST

RIL, ICICI Bank contribute most to Sensex fall

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17 Sep 2020, 01:10:48 PM IST

Nifty Metal worst hit among sectoral indices

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17 Sep 2020, 01:05:49 PM IST

Bank of Japan stands pat on policy

The Bank of Japan kept monetary policy steady on Thursday and slightly upgraded its view on the economy, suggesting that no immediate expansion of stimulus was needed to combat the coronavirus pandemic, Reuters reported.

17 Sep 2020, 01:04:23 PM IST

ECB eases bank capital rules further in face of pandemic: AFP

The European Central Bank said Thursday it was granting a further temporary relief to big banks to help them cope with the impact of the coronavirus pandemic, easing requirements on the capital they are required to hold until mid-2021.

"The situation brought about by the coronavirus (Covid-19) pandemic has affected all euro area economies in an unprecedented and profound way," said the bank's governing council in a statement.

17 Sep 2020, 12:55:20 PM IST

FTSE 100 down 1.0%, FTSE 250 down 0.7% ahead of BoE meeting

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17 Sep 2020, 12:50:50 PM IST

SC dismisses SBI's plea to vacate stay on Anil Ambani personal insolvency case

17 Sep 2020, 12:47:11 PM IST

SGX Nifty futures down nearly 1%

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17 Sep 2020, 12:37:34 PM IST

Dow, S&P futures down over 1% each

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17 Sep 2020, 12:34:30 PM IST

India VIX jumps over 3%

17 Sep 2020, 12:33:11 PM IST

BSE Telecom under pressure; Airtel, Vodafone Idea in the red

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17 Sep 2020, 12:23:27 PM IST

Oil prices under pressure on fresh demand concerns

Oil prices fell on Thursday, after rising steeply in the two previous sessions, as concerns about weak fuel demand re-emerged and producers in the Gulf of Mexico prepared to resume output following Hurricane Sally, Reuters reported.

Brent crude futures fell 67 cents, or 1.6%, to $41.55 a barrel, after climbing 4.2% on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures were down 70 cents, or 1.7%, to $39.46 a barrel, after jumping 4.9% on Wednesday.

17 Sep 2020, 12:03:57 PM IST

Sensex stocks at this hour

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17 Sep 2020, 12:03:01 PM IST

Markets near day's low

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17 Sep 2020, 11:54:33 AM IST

Nifty Metal worst hit as of now

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17 Sep 2020, 11:51:55 AM IST

JMC Projects secures orders worth ₹1,342 crore

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17 Sep 2020, 11:50:59 AM IST

Tata Steel worst hit stock on Sensex

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17 Sep 2020, 11:23:41 AM IST

Nifty broad market indices

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17 Sep 2020, 11:11:11 AM IST

Transaction adviser presents 5 options to Inter Ministerial Group On Air India divestment: CNBC-TV18

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17 Sep 2020, 11:05:25 AM IST

Dr Reddy's extends gains from Wednesday

The pharma major and Russia's sovereign wealth fund, Russian Direct Investment Fund (RDIF), agreed to cooperate on clinical trials and distribution of Sputnik V vaccine in India.

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17 Sep 2020, 10:47:31 AM IST

Kerala Higher Education Minister K T Jaleel appears before NIA team probing Kerala gold smuggling case

17 Sep 2020, 10:41:27 AM IST

Tata Power & India Power Corp bid for three Odisha power discoms: Business Standard

Odisha, which recently offered three of its power distribution companies (discoms) for privatisation, has received bids from Tata Power and India Power Corporation Ltd.

The bids were called earlier this year for Western, Southern and Northern Electricity Supply Companies, namely WESCO, SOUTHCO and NESCO.

Industry sources said Tata Power has submitted bids for all three discoms, while IPCL has submitted bids for SOUTHCO and WESCO. This effectively makes Tata Power the only bidder for NESCO.

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17 Sep 2020, 10:27:28 AM IST

HCL Tech top gainer on Sensex

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17 Sep 2020, 10:26:57 AM IST

Nifty technicals: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

"Nifty has been steadily moving higher. Since last 2-3 days, we have been sounding a bit optimistic ever since we spotted a ‘Bullish Wolfe wave’ pattern on hourly chart around 11250-11200. The said pattern has proved its significance but we are now observing the similar structure but unfortunately this time it is ‘Bearish Wolfe Wave’ and 11620-11650 is the ‘Potential Reversal Zone’, exactly where we are standing now...

With a broader view also, we are a bit unsure whether the Nifty has enough strength to go pass the sturdy wall of 11650-11680. For the coming session, 11620-11650-11680 continues to be a strong resistance zone and we advise traders not get carried away by last 2-3 days’ upmove. As far as supports are concerned, 11570-11540 would be seen as intraday supports and a move below 11540 would give early signs of weakness. It may sound a bit repetitive but we would like to keep advocating caution and one should avoid carrying aggressive longs overnight for a while. Apart from this, Mid and small cap stocks have been the centre of attraction since the start of the week but they have also started loosing some steam now."

17 Sep 2020, 10:19:16 AM IST

India rupee opens at 73.74 per dollar vs Wednesday's close of 73.52/$

17 Sep 2020, 10:13:03 AM IST

Happiest Minds lists at 111% premium over issue price

Happiest Minds Technologies made a stellar stock market debut on Thursday, listing at 351 on the BSE, a 111% premium over its issue price of 166. On NSE, the stock listed at 350 apiece.

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17 Sep 2020, 09:56:41 AM IST

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

"We opened with a gap down but the trend continues to remain positive. The target of 11800 is still open and one can utilise this dip to enter long positions on the index. The stop would be a closing below 11300."

17 Sep 2020, 09:51:43 AM IST

Bank Nifty worst hit among sectoral indices

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17 Sep 2020, 09:41:39 AM IST

Bank stocks, financials lead losses on Sensex

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17 Sep 2020, 09:36:00 AM IST

Top gainers/losers on Nifty

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17 Sep 2020, 09:29:43 AM IST

ONGC among top gainers on Sensex

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17 Sep 2020, 09:22:31 AM IST

Sensex stocks in early deals

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17 Sep 2020, 09:21:26 AM IST

Nifty in early deals

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17 Sep 2020, 09:20:41 AM IST

Sensex in opening deals

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17 Sep 2020, 09:06:35 AM IST

Nifty at pre-open

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17 Sep 2020, 09:05:59 AM IST

Sensex at pre-open

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17 Sep 2020, 08:51:52 AM IST

NPAs under Mudra scheme rise to 5% for public sector banks

Non-performing assets for loans disbursed by state-owned banks under the Pradhan Mantri Mudra Yojana (PMMY) soared to around 5% of the total disbursed amount in 2019-20, Minister of State for Finance Anurag Thakur informed Parliament earlier this week.

The government had launched the Mudra scheme in April 2015 to give unsecured loans of up to 10 lakh to small enterprises

17 Sep 2020, 08:47:44 AM IST

Gold down 0.6% at $1,947.23 an ounce in Asian deals

17 Sep 2020, 08:40:00 AM IST

Oil prices lower

Brent crude dropped 0.62% to $41.96 per barrel while U.S. crude fell 0.72% to $39.87 per barrel.

17 Sep 2020, 08:14:11 AM IST

Stocks to Watch

Reliance Industries, Infosys, pharma stocks, Bharat Petroleum, Motherson Sumi will be in focus today.

Happiest Minds Technologies debut on stock exchanges today.

17 Sep 2020, 08:10:00 AM IST

SGX Nifty in the red

SGX Nifty futures were down 0.64% at 11,537.50 in early deals, indicating a negative start for the Indian equity indices.

17 Sep 2020, 08:08:41 AM IST

Asian stocks mostly lower on concerns over global economic recovery

Asian stocks fell with U.S. and European futures Thursday after Federal Reserve Chair Jerome Powell highlighted uncertainty about the economic rebound, Bloomberg reported. The dollar advanced against major peers.

“The recovery has progressed more quickly than generally expected," US Fed Chair Jerome Powell said, while cautioning that “the path ahead remains highly uncertain."

Japan’s Topix index lost 0.1%, Hong Kong’s Hang Seng and Shanghai Composite declined 0.2% each. South Korea’s Kospi index dropped 0.4% and Australia’s S&P/ASX 200 Index slid 0.7%.

17 Sep 2020, 07:52:43 AM IST

US equities end lower on Wednesday, tech stocks lead losses

Wall Street stocks closed lower on Wednesday after a rally following the Federal Reserve's latest interest rate policy update faded in the final hour of trading.

The S&P 500 lost 15.71 points to 3,385.49. The Dow Jones Industrial average rose 36.78 points, or 0.1%, to 28,032.38. It had earlier been up by 369 points. The Nasdaq composite lost 139.85 points, or 1.3%, to 11,050.47.

Technology stocks led the slide Wednesday, outweighing gains in financial, industrial and energy companies

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