Home / Markets / Stock Markets /  Sensex tanks 3%, Nifty sub-13,350; bears take control of markets on virus scare

Sensex tanks 3%, Nifty sub-13,350; bears take control of markets on virus scare

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.Premium
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.

  • Markets erased all the gains made in the previous six days because of across-the-board selling pressure following the virus scare in the UK. The Sensex touched a low of 44,923.08, while the Nifty fell to 13,131.45

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21 Dec 2020, 03:51:25 PM IST

Bloodbath on Dalal Street on renewed virus scare

Indian benchmark equity indices--Sensex and Nifty--fell 3% each on Monday, snapping six days of gains, as investor appetite soured following reports of a new deadly strain of the coronavirus in the UK.

The Sensex slumped 1406.73 points or 3% to close at 45,553.96 while the Nifty ended 432.15 points or 3.1% lower at 13,328.40. About 580 shares advanced, 2,381 declined, and 163 shares were unchanged.

All Nifty sectoral indices tanked 2-7% each while broader market indices Nifty Smallcap100 and Nifty Midcap100 fell 5% each.

The BSE lost over 7 trillion in market capitalisation today.

The Indian rupee, meanwhile, ended 21 paise lower at 73.78 per dollar amid selling pressure in domestic equities.

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21 Dec 2020, 03:30:08 PM IST

RIL, HDFC twins, and ICICI Bank among top contributors to Sensex's fall today

21 Dec 2020, 03:27:02 PM IST

Oil falls $2 as new virus strain sparks demand concerns: Reuters

Oil prices tumbled by $2 on Monday, as a fast-spreading new strain of coronavirus that has shut down much of the UK and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand.

Brent crude was down $2.06, or 3.9%, to $50.20 a barrel, and U.S. West Texas Intermediate (WTI) crude was down $1.95, or 4%, at $47.15 a barrel.

21 Dec 2020, 03:24:11 PM IST

Govt may soon buy 5 crore Covid vaccines from Serum Institute: Report

21 Dec 2020, 03:17:54 PM IST

Veteran Congress leader Motilal Vora passes away

21 Dec 2020, 03:15:32 PM IST

India suspends flights to the UK till 31 Dec

As a measure of abundant precaution, passengers arriving from THE UK in all transit flights (flights that have taken off or flights which are reaching India before 22nd Dec at 23.59 hrs) should be subject to mandatory RT-PCR test on arrival at the airports concerned, the civil aviation ministry said in a tweet.

21 Dec 2020, 03:05:19 PM IST

Top losers on BSE at this hour

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21 Dec 2020, 02:53:19 PM IST

India VIX jumps 22%

21 Dec 2020, 02:49:44 PM IST

Volume contributors on the Sensex

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21 Dec 2020, 02:38:40 PM IST

Bloodbath on Sensex

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21 Dec 2020, 02:15:52 PM IST

Kapil Wadhawan seeks control of DHFL, says will pay entire ₹91,158 crore dues in 7-8 years: CNBC TV-18

21 Dec 2020, 02:14:31 PM IST

Air India: No decision yet on suspension of flights to or from the UK

21 Dec 2020, 02:08:26 PM IST

India VIX jumps

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21 Dec 2020, 02:01:37 PM IST

Sensex gainers/losers at this hour

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21 Dec 2020, 01:54:31 PM IST

Sensex extends losses, down nearly 500

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21 Dec 2020, 01:51:11 PM IST

France halts UK freight over virus alarm: Bloomberg

21 Dec 2020, 01:50:39 PM IST

European stocks slump at open on new virus strain scare

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21 Dec 2020, 01:42:36 PM IST

No significant impact on company due to violence at Narasapura plant: Wistron

21 Dec 2020, 01:33:50 PM IST

M&M says SsangYong Motor has filed for bankruptcy in Seoul Court: BSE filing

M&M says SsangYong files for commencement of rehabilitation procedure with Seoul Bankruptcy Court. It has also applied for autonomous restructuring support (ARS) programme. Seoul Bankruptcy Court will deliberate and review the application.

If the Court approves the ARS, SYMC will continue to function under the supervision of its Board and will negotiate with stakeholders to reach an understanding about a revival package which may include equity and debt financing and other related actions. However, some of its decisions will be subject to Court approval.

21 Dec 2020, 01:26:26 PM IST

Nifty PSU Bank worst hit among NSE sectoral indices so far

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21 Dec 2020, 01:24:15 PM IST

Aviation stocks under pressure on UK flight ban

SpiceJet Ltd and IndiGo promoter InterGlobe Aviation were down over 4% each on Monday on reports of countries banning flights from the UK following the discovery of a new deadly strain of coronavirus.

21 Dec 2020, 01:22:13 PM IST

Hong Kong takes cues from others, bans all flights from the UK

21 Dec 2020, 01:20:05 PM IST

Oil extends losses: Bloomberg

Oil fell toward $47 a barrel -- after posting a seventh weekly gain -- on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.

Futures in New York dropped around 3% after closing at the highest in almost 10 months on Friday.

21 Dec 2020, 01:18:43 PM IST

Housing sales to fall 47% in 2020 across top 7 cities due to covid-19: Anarock

Housing sales across seven major cities are expected to fall 47% year-on-year to 1.38 lakh units this year on lower demand because of the covid-19 pandemic, according to property consultant Anarock.

New housing supply, too, is likely to fall 46 per cent to 1.28 lakh units in 2020 in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata. (Read here)

21 Dec 2020, 01:16:20 PM IST

Gold gains 1% to $1,900 an ounce

Gold surged on Monday as reports of lockdowns in the UK soured appetite for riskier assets and added to the metal's support.

21 Dec 2020, 01:09:28 PM IST

Ban all flights from the UK immediately, Kejriwal urges the Centre

21 Dec 2020, 01:08:07 PM IST

Banks, financials, M&M lead losses on Sensex

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21 Dec 2020, 12:59:14 PM IST

Top gainers/losers on Nifty 50 at this hour

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21 Dec 2020, 12:48:19 PM IST

Snowman Logistics approves to raising up to ₹250 crore via QIP

21 Dec 2020, 12:46:51 PM IST

AstraZeneca Pharma: Yash Gupta, equity research associate, Angel Broking

AstraZeneca Pharma stock up by 1.3% on receiving Import and market permission for asthma drug in India. Benralizumab (Fasenra™) is indicated as an add-on maintenance treatment for severe asthma with an eosinophilic phenotype in adult patients. The receipt of this permission paves way for the launch of Benralizumab (Fasenra™) in India, subject to the receipt of related statutory approvals and licenses. This is very positive development for the AstraZeneca and this drug launch will help company to increase contribution from domestic business.

21 Dec 2020, 12:32:30 PM IST

Burger King jumps over 4%

21 Dec 2020, 12:31:49 PM IST

RIL, IOC, BPCL likely in race for Navi Mumbai ATF pipeline: Report

21 Dec 2020, 12:09:38 PM IST

Seoul bans gatherings larger than four as coronavirus deaths rise: Reuters

21 Dec 2020, 12:02:38 PM IST

India rupee at 73.68 per dollar vs 73.57/dollar at open

Indian rupee erased some of early losses but still traded lower at 73.68 per dollar, amid volatility in domestic equities. The unit had opened 18 paise lower at 73.75 per dollar compared with Friday's close of 73.57 per US unit

21 Dec 2020, 11:47:00 AM IST

DHFL’s resolution turning for the better, but there is risk of buyers remorse

It has been more than a year since India’s banking regulator

initiated insolvency proceedings against a broke housing finance company mired in governance controversies.

The saga of Dewan Housing Finance Corporation Ltd’s (DHFL) insolvency procedure has been intriguing over the past one year. The task to find bidders had looked challenging initially and bankers having exposure to DHFL felt resigned to large haircuts in the beginning. Lenders have already made sizable provisions against the account assuming haircuts in excess of 50%. The plight of thousands of fixed depositors also hung in balance. (Read here)

21 Dec 2020, 11:42:27 AM IST

Nifty IT top gainer among sectoral indices

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21 Dec 2020, 11:11:36 AM IST

Cement prices in eastern India see steepest decline in December on over-supply

Cement prices in eastern India continued to suffer in December on rising supply. Even as demand has been showing signs of recovery, it is yet to reach a level where this massive supply can be absorbed without hurting prices.

Dealers channel check by Nirmal Bang Securities Ltd showed that prices in the region on an average fell to 274/bag in December from 296/bag in November.

One cement bag weighs 50 kilograms. At an all-India level, prices fell to 334/bag from 344/bag during the period. (Read here)

21 Dec 2020, 10:57:41 AM IST

Delhi HC declines Future Retail Ltd's plea for interim order injuncting Amazon from writing to authorities about arbitral award

Delhi High Court on Monday dismissed India's Future Retail's plea that sought to restrain its partner Inc from interfering in its $3.4 billion asset sale deal with Reliance Industries, Reuters reported.

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries. The deal breaches agreements made in 2019 by Future, according to the U.S. online retailer.

In October, Amazon had won an injunction to halt Future's deal with Reliance from a Singapore arbitrator both sides had agreed to use in case of disputes.

Future later said the order was not binding, prompting Amazon to lodge a complaint with India's market regulator.

Amazon cannot be barred from writing to regulators on account of potentially irreparable damage, Justice Mukta Gupta of the Delhi High Court said in the verdict.

21 Dec 2020, 10:45:52 AM IST

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

On Friday, Nifty started the session marginally positive around 13760 but it corrected in the first hour of the trade by more than 100 points from the opening level. However, it found support near the 13650 mark and recovered gradually to end the day near the opening level.

Just like the recent past, once again we witnessed upmove in the indices from intraday dip and Nifty managed to end the week at its all time high. However, the banking index has been reluctant to participate during this week and thus has shown some relative underperformance. Although there are no signs of reversal yet on the chart, Nifty is currently trading near an important resistance of 13770 which is the 127% retracement of the previous correction on the weekly charts.

Since the momentum readings are in overbought zone and the index is trading near its resistance, there could be some time-wise or a price-wise correction in the near term. As far as levels are concerned, 13650 and 13600 are the important supports whereas 13770-13800 is the important resistance zone. Traders are advised to look to book some profits on their existing longs here and trade with a stock specific approach with a tab on the above mentioned levels.

21 Dec 2020, 10:40:03 AM IST

Antony Waste Handling Cell IPO opens for subscription

The 300 crore IPO of Antony Waste Handling Cell opened for subscription today and the issue will close on 21 December. The issue follows the whopping investor response to Burger King and Mrs Bectors Food IPOs earlier this month. Antony Waste Handling Cell is a leading player in solid waste management services in the country.

21 Dec 2020, 10:38:00 AM IST

Rupee opened at 73.75 per US dollar vs Friday's close of 73.56/$

21 Dec 2020, 10:36:58 AM IST

Glenmark receives tentative US FDA nod: BSE filing

Glenmark Pharmaceuticals Ltd has received tentative approval from the US Food & Drug Administration (US FDA) for Dabigatran Etexilate Capsules, 75 mg, 110 mg, and 150 mg, the generic version of Pradaxa®1 Capsules, 75 mg, 110 mg, and 150 mg, of Boehringer Ingelheim Pharmaceuticals, Inc.

According to IQVIATM sales data for the 12 month period ended October, Pradaxa® Capsules, 75 mg, 110 mg, and 150 mg market2 achieved annual sales of approximately $550.9 million.

21 Dec 2020, 10:13:39 AM IST

Nifty Auto in the red

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21 Dec 2020, 10:02:18 AM IST

Nifty view: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The Nifty is keeping above the crucial 13700 levels. If we can continue doing that, the markets should be headed to 14000. A strong support lies at the 13500-13600 levels and as long as that holds, the trend of the index remains bullish and traders can utilise any dip to accumulate long positions.

21 Dec 2020, 09:57:47 AM IST

Oil falls below $48 with virus mutation raising lockdown risks: Bloomberg

Oil fell below $48 a barrel in Asian deals -- after posting a seventh weekly gain -- on concern a mutation of Covid-19 discovered in the U.K. could speed transmission of the virus and lead to more lockdowns.

Futures in New York dropped 3% after closing at the highest in almost 10 months on Friday. More than 16 million Britons are now required to stay at home as a full lockdown came into force in London and the southeast of England, with some European countries limiting travel with the U.K. A stronger dollar also reduced the appeal of commodities that are priced in the currency.

21 Dec 2020, 09:47:55 AM IST

AstraZeneca Pharma gets import and market permission for Benralizumab solution

AstraZeneca Pharma India has received import and market permission in Form CT-20 (Marketing Authorization) from the Drugs Controller General of India for Benralizumab 30mg/mL solution for injection (Fasenra), the company said in a filing to the exchanges.

Benralizumab is indicated as an add-on maintenance treatment for severe asthma with an eosinophilic phenotype in adult patients.

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21 Dec 2020, 09:44:00 AM IST

Bank stocks under pressure; Nifty Bank worst hit sectoral index on NSE

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21 Dec 2020, 09:40:53 AM IST

Shipping Corp shares jump nearly 5%; government to divest stake

The Centre is likely to invite bids for privatising Shipping Corporation of India this week and buyers will have time till mid February to submit EoIs, an official has said. The government plans to divest its entire 63.75% per cent stake in the entity along with transfer of management control.

21 Dec 2020, 09:19:27 AM IST

Nifty in opening deals

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21 Dec 2020, 09:18:54 AM IST

Sensex opens 150 points lower

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21 Dec 2020, 09:13:24 AM IST

New covid strain: Britain hit by travel bans

Countries worldwide banned arrivals from the UK on Sunday over a new highly infectious coronavirus strain Britain said was "out of control", as the WHO called for stronger containment measures.

But there was positive news across the Atlantic where US lawmakers reached a deal for a nearly $900 billion Covid-19 financial package to help struggling Americans.

UK Prime Minister Boris Johnson was to chair the COBR emergencies committee on Monday, his office said, after a slew of nations from Turkey to Canada blocked arrivals from Britain by air.

21 Dec 2020, 09:08:31 AM IST

Sensex stocks in pre-open

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21 Dec 2020, 09:05:49 AM IST

Nifty flat in pre-open trade

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21 Dec 2020, 09:05:07 AM IST

Sensex lower in pre-open trade

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21 Dec 2020, 08:42:42 AM IST

Price hikes may stall auto sales

Plans by automobile companies to raise vehicle prices from January could upset the demand recovery set in motion after the coronavirus lockdown curbs were lifted, four automobile industry executives said.

Maruti Suzuki India Ltd, Hero MotoCorp Ltd, Honda Motor Co. and Mahindra and Mahindra Ltd (M&M) have announced that they would increase vehicle prices from January citing the need to offset rising commodity prices and other input costs. (Read here)

21 Dec 2020, 08:37:19 AM IST

Govt plans tough annual targets for PSUs to boost valuations: Report

India plans to set tough financial targets for state-run firms to try to improve their valuations ahead of a push by Prime Minister Narendra Modi to privatize some companies, according to a draft government document and sources.

The government, which is trying to rein in its fiscal deficit, wants state-run firms to focus on improving market capitalisation and dividend payouts from the 2021/22 fiscal year, starting April, as well as ramping up the sale of non-core assets, the sources said. (Read full report here)

21 Dec 2020, 08:36:19 AM IST

US Congress reach agreement on stimulus deal: Reuters

U.S. congressional leaders reached agreement on Sunday on a $900 billion package to provide the first new aid in months to an economy and individuals battered by the surging coronavirus pandemic, with votes likely on Monday.

The package would be the second-largest economic stimulus in U.S. history, following a $2.3 trillion aid bill passed in March. It comes as the pandemic accelerates, infecting more than 214,000 people in the country each day. More than 317,000 Americans have already died.

21 Dec 2020, 08:33:08 AM IST

Stocks to Watch

Shares of public-sector banks, automobile companies, DHFL, Reliance Industries will be in focus today.

21 Dec 2020, 08:31:31 AM IST

SGX Nifty points to negative start for Indian equities

The SGX Nifty futures were down 0.38% at 13,727.50, indicating a weak opening for India's benchmark indices.

On Friday, the BSE Sensex ended at 46,960.69, up 70.35 points or 0.15%. The Nifty closed at 13,760.55, up 19.85 points or 0.14%.

21 Dec 2020, 08:20:20 AM IST

Asian equities on back foot as new virus strain in UK triggers concerns

Asian stocks faltered on Monday as unease over a new coronavirus strain that was shutting much of the UK offset news a deal had finally been struck on a long-awaited U.S. stimulus bill.

Sterling slid 1.1% to $1.3370 after several European countries closed their borders to the UK as the country entered a tougher lockdown to fight a new strain of coronavirus.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2% after hitting a string of record peaks last week. Japan's Nikkei reversed early gains to be down 0.6%, off its highest since April 1991.

21 Dec 2020, 08:17:35 AM IST

US stocks closed lower Friday on uncertainty around stimulus deal

Wall Street stocks ended lower on Friday, dragged down by uncertainty around a coronavirus stimulus deal, while Tesla shares jumped in heavy trading in anticipation of their addition to the S&P 500 next week, Reuters reported.

The U.S. Congress looked increasingly unlikely on Friday to meet a deadline to agree on $900 billion in fresh COVID-19 aid and instead may pass a third stopgap spending bill to keep the government from shutting down at midnight.

The Dow Jones Industrial Average fell 124.32 points, or 0.41%, to 30,179.05, the S&P 500 lost 13.07 points, or 0.35%, to 3,709.41 and the Nasdaq Composite dropped 9.11 points, or 0.07%, to 12,755.64.

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