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Sensex, Nifty snap 4 days of gains, close in the red; banks, pharma stocks bleed

At close on Wednesday, the Sensex was up 162.94 points or 0.4% at 40707.31, while the Nifty was up 40.90 points or 0.34% at 11937.70. (Photo: Reuters)Premium
At close on Wednesday, the Sensex was up 162.94 points or 0.4% at 40707.31, while the Nifty was up 40.90 points or 0.34% at 11937.70. (Photo: Reuters)

  • Bharti Infratel, HDFC Asset Management Company, Hexaware Technologies are among the 48 companies scheduled to announce their quarterly earnings today

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22 Oct 2020, 03:45:18 PM IST

Sensex, Nifty close lower dragged down by banks, pharma stocks

India's benchmark equity indices settled in the red on Thursday, snapping four straight days of gains, as banks, IT, and pharma stocks declined.

At close today, the Sensex was down 148.82 points or 0.37% at 40558.49, and the Nifty was down 41.20 points or 0.35% at 11896.50. About 1,412 stocks advanced, 1,188 declined, and 159 were unchanged.

IndusInd Bank, Hero MotoCorp, Infosys, ICICI Bank and Cipla were among the worst hit on the Nifty, while gainers included Bharti Airtel, Tata Motors, IOC, NTPC and Bajaj Finance.

Among sectors, Nifty Pharma, IT, Private Bank and Financial Services fell the most while Nifty Metal, Media, Nifty FMCG and Nifty Realty ended higher.

BSE Midcap and Smallcap indices outperformed the broader market, rising 0.5-0.8%.

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22 Oct 2020, 03:22:21 PM IST

Rakesh Jhunjhunwala picks up 1.29% stake in Tata Motors in Sep quarter: BSE shareholding data

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22 Oct 2020, 03:20:03 PM IST

Nifty gainers/losers

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22 Oct 2020, 03:19:09 PM IST

Market check

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22 Oct 2020, 03:07:47 PM IST

Asian Paints' September quarter numbers

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22 Oct 2020, 03:05:45 PM IST

SBI Card's September quarter net profit declines 46% YoY to ₹206 crore

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22 Oct 2020, 03:04:25 PM IST

Top losers on BSE at this hour

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22 Oct 2020, 02:46:53 PM IST

Barring Nifty Media, all sectoral indices in the red

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22 Oct 2020, 02:44:02 PM IST

Bihar deputy CM Sushil Modi tests positive for COVID-19, admitted to AIIMS Patna: Hindustan Times

22 Oct 2020, 02:38:37 PM IST

India is the world’s fastest growing OTT market: PwC report

22 Oct 2020, 02:37:57 PM IST

Sensex stocks at this hour

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22 Oct 2020, 02:36:34 PM IST

Equitas Small Finance Bank fully subscribed on final day

The initial public offer of Equitas Small Finance Bank was fully subscribed on 22 October - the final day of bidding. Response to the 518 crore IPO has seen weak so far.

The company raised 140 crore through anchor investors 19 October.

22 Oct 2020, 02:31:18 PM IST

European stocks slide on German consumer morale dips: Reuters

European stocks hit their lowest level in almost a month on Thursday, as a fall in German consumer morale, worries about soaring coronavirus cases in the continent and a U.S. stimulus impasse weighed on sentiment.

The German DAX fell 0.9% and lagged its European peers, as a survey showed consumer morale in Europe's largest economy dropped heading into November.

The pan-European STOXX 600 was down 0.7%, after falling as much as 1.2% to hit its lowest since 25 September.

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22 Oct 2020, 02:20:38 PM IST

Rupee ends at 73.54 to a dollar vs Wednesday's close of 73.58

22 Oct 2020, 02:07:29 PM IST

Volume toppers on Sensex

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22 Oct 2020, 02:04:55 PM IST

Bajaj Auto September quarter profit declines 19% year-on-year

Bajaj Auto Ltd has reported a 19% year-on-year decline in its September quarter standalone net profit to 1,402 crore.

The company attributed the fall in profit to lower interest rates during Q2 FY21, resulting in lower treasury income.

Bajaj Auto has also reported an improvement in its Ebidta margins during the September quarter at 18.2% as against 16.9% during the year-ago period. Optimisation of fixed cost helped improve the margin profile, it said in a note.


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22 Oct 2020, 01:42:40 PM IST

Aurobindo Pharma gets US FDA approval for Acetaminophen Injection

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Acetaminophen Injection, 1,000 mg/ 100 mL single-dose vial (SDV), the company said in a BSE filing.

Acetaminophen Injection is a generic equivalent of Mallinckrodt’s Ofirmev® Injection. The product will be launched in December 2020.

Acetaminophen Injection is indicated for the treatment of mild to moderate pain in adult and paediatric patients 2 years and older. The injection is also set to treat moderate to severe pain with adjunctive opioid analgesics in adult and paediatric patients 2 years and older, and reduction of fever in adult and paediatric patients. The approved product has an estimated market size of $339 million for the twelve months ending August 2020 according to IQVIA.

22 Oct 2020, 01:22:09 PM IST

IndusInd Bank worst hit on Sensex at this hour

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22 Oct 2020, 01:11:40 PM IST

Home ministry eases curbs for entry of foreign nationals into India: ANI

OCI, PIO card-holders, foreign nationals intending to visit India for any purpose, except on a tourist Visa, are permitted to enter by air or water routes through authorised airports and seaport immigration check posts: Ministry of Home Affairs.

22 Oct 2020, 01:03:29 PM IST

FPIs raise stake in RIL

Foreign portfolio investors raised their stake in Reliance Industries (RIL) to 25.20% in the September quarter from 24.72% in the quarter ended June, as per BSE shareholding data.

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22 Oct 2020, 12:53:18 PM IST

Nifty Metal bucks broader market weakness, rises 0.4%

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22 Oct 2020, 12:48:08 PM IST

Nifty nears 11,850

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22 Oct 2020, 12:45:30 PM IST

Markets extend losses

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22 Oct 2020, 12:39:03 PM IST

Bajaj Auto down ahead of results

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22 Oct 2020, 12:33:26 PM IST

IOC board to consider raising up to ₹20,000 crore in FY21 via bonds/debentures on 30 October: BSE filing

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22 Oct 2020, 12:16:00 PM IST

US proposes not to issue business visa for H-1B speciality occupations: PTI

The State Department has proposed not to issue temporary business visas for H-1B speciality occupations which allowed several companies to send their technology professionals for a short stay to complete jobs on site in the US, a move which could affect hundreds of Indians.

22 Oct 2020, 12:14:58 PM IST

Flipkart, Amazon hold talks to acquire stake in Aditya Birla Fashion

Flipkart and Amazon have held talks with fashion retailer Aditya Birla Fashion and Retail Ltd (ABFRL) for a minority stake in the company, which continues to seek investments either through a hive-off or partnerships, said people aware of the discussions.

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22 Oct 2020, 12:05:24 PM IST

Asian Paints down over 1% ahead of September quarter results

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22 Oct 2020, 11:45:38 AM IST

China’s Fosun-owned Gland Pharma gets Sebi nod for IPO

Gland Pharma Ltd, majority owned by China’s Fosun group, has received approval of the Securities and Exchange Board of India’s (Sebi) for its proposed 6,000 crore IPO, a person aware of the development told Mint.

22 Oct 2020, 11:40:22 AM IST

BJP poll manifesto promises free COVID vaccination for all in Bihar: ANI

22 Oct 2020, 11:39:14 AM IST

Data breach prompts Dr Reddy's to shut key plants - ET Now

A data breach at Dr Reddy's Laboratories Ltd has prompted the company to shut its key plants globally, television channel ET Now reported on Thursday, citing sources.

The data breach occurred at servers of the company and plants in the US, UK, Brazil, India and Russia were hit, the report said.

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22 Oct 2020, 11:35:33 AM IST

Nifty Pharma extends losses, now down over 2%

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22 Oct 2020, 11:28:18 AM IST

Alembic Pharma JV gets US FDA nod for antifungal topical solution: BSE filing

22 Oct 2020, 11:09:57 AM IST

Granules India gets US FDA nod for potassium chloride tablets

Granules India on Thursday said it has received marketing approval from the US Food and Drug Administration (US FDA) for Potassium Chloride extended release tablets, used for treatment of patients with hypokalemia.

Hypokalemia is a condition when the potassium level in a patient’s blood is too low.

Granules has received approval for Potassium Chloride extended release tablets USP in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg), the company said in a BSE filing.

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22 Oct 2020, 11:06:22 AM IST

Vedanta board to meet 24 October to consider dividend

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22 Oct 2020, 10:45:16 AM IST

Nifty broad market indices

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22 Oct 2020, 10:34:59 AM IST

Aurobindo Pharma down over 5%; subsidiary gets warning letter

AuroLife Pharma LLC, a wholly-owned step-down subsidiary of Aurobindo Pharma, has received a warning letter from the US FDA for its oral solid manufacturing facility situated at Dayton, New Jersey.

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22 Oct 2020, 10:24:15 AM IST

Nifty Pharma worst hit among sectoral indices today

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22 Oct 2020, 10:16:19 AM IST

Hemisphere Properties India lists at ₹106 a share

Shares of Hemisphere Properties India Ltd debuted on stock exchanges at 106 a piece on Thursday.

Hemisphere Properties India is a special purpose vehicle and custodian of land that was owned by then state-owned telecom firm VSNL.

It was formed as part of the disinvestment exercise carried out by the government of India in respect of its holdings in the erstwhile VSNL (currently known as Tata Communications Limited). In 2002, the Centre divested 25% of its shareholding in the equity share capital of VSNL, wherein in terms of the bid for the disinvestment required a separate value to be ascribed to lands to be retained with VSNL and to exclude the value of certain surplus lands, held by VSNL.

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22 Oct 2020, 10:07:52 AM IST

Most Nifty sectoral indices in the red

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22 Oct 2020, 10:06:49 AM IST

Rupee opens at 73.76 to a dollar vs Wednesday's close of 73.58: CNBC TV18

22 Oct 2020, 10:00:45 AM IST

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

The Nifty has gone sideways - we are around the mid point of the range where 11650 is the lower end and 12050 is the upper end. Unless we do not cross one of these levels we will not see a substantial move and hence a trade in either direction may trigger a stop loss. Traders should be cautious when trading a range and if at all they end up trading, they should consider smaller quantities to encapsulate the stops. If we get past 12050, we can trade for a target of 12300 and if we break 11650, we can trade for a downward target of 11450.

22 Oct 2020, 09:52:04 AM IST

Top gainers/losers on Nifty at this hour

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22 Oct 2020, 09:49:01 AM IST

ICICI Bank worst hit stock on Sensex at this hour

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22 Oct 2020, 09:32:16 AM IST

Oil prices lower

Oil prices declined in early deals on Thursday, extending losses from overnight, after a build in U.S. gasoline inventories pointed to a deteriorating outlook for fuel demand as coronavirus cases soar in North America and Europe.

Brent crude futures retreated 22 cents, or 0.5%, to $41.51 a barrel after sliding 3.3% on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures fell 26 cents, or 0.7%, to $39.77 a barrel, after a 4% fall on Wednesday.

22 Oct 2020, 09:30:30 AM IST

Nifty check

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22 Oct 2020, 09:28:35 AM IST

Embassy to sell maintenance biz of 2 office parks to REIT for ₹474 crore

Embassy REIT, India’s first listed real estate investment trust will buy the

property maintenance business of Embassy Manyata Business Park in Bengaluru and Embassy Tech Zone in Pune.

Both the properties are part of Embassy REIT’s existing portfolio and the acquisition further integrates 20.3 million sq ft of property maintenance business to the existing 9.9 million sq ft properties already managed by Embassy REIT, the company said in a stock exchange filing on Thursday.

22 Oct 2020, 09:27:29 AM IST

Market check

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22 Oct 2020, 09:26:07 AM IST

Sensex stocks in opening deals

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22 Oct 2020, 09:06:59 AM IST

Sensex stocks in pre-open

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22 Oct 2020, 09:04:23 AM IST

Nifty at pre-open

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22 Oct 2020, 09:03:46 AM IST

Market at pre-open

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22 Oct 2020, 08:37:17 AM IST

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

Despite being close to the 12050 levels, we were unable to get past that. The Nifty reacted sharply from that zone of 12000-12050 and has resumed it's sideways movements. For any up move to commence, it is imperative we cross 12050 as that will lead the index to 12200-12300 levels. On the flip side, the support is at 11650 and till we do not break that, we are going to be rangebound with a positive bias.

22 Oct 2020, 08:36:15 AM IST

Centre preps stimulus 3.0 to kickstart the economy

Days after Union finance minister Nirmala Sitharaman said the option of another fiscal stimulus for the current financial year remains open, a top aide said the ministry is working on such a package.

“The finance minister, in her interaction a day ago, has mentioned that (about increasing government expenditure). She has told us to work on that, and we are actually working on that," economic affairs secretary Tarun Bajaj said on Wednesday. “Based on the various suggestions that we have received from all of you (industry leaders), we will be working on it and will try to do something on this front as well so that the push to the economy, which is very much needed in these stressful times, is provided," he said at a webinar organized by industry lobby Confederation of Indian Industry, or CII.

22 Oct 2020, 08:24:58 AM IST

Sebi to expand Investor Protection Fund

The Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi said the regulator was considering taking steps to soothe investor concerns about the safety of their investments.

The steps include the expansion of the Investor Protection Fund. It is also working on the proposed T+1 settlement, Tyagi said.

22 Oct 2020, 08:22:39 AM IST

RBI announces ₹1 lakh crore on tap TLTRO

The Reserve Bank on Wednesday announced an 'on tap' Targeted Long-Term Repo Operations (TLTRO) scheme of up to 1 lakh crore to help banks provide liquidity support to sectors, including agriculture, retail, drugs and pharmaceuticals and MSMEs. "Investments made by banks under this facility will be classified as held to maturity (HTM) even in excess of 25 per cent of total investment permitted to be included in the HTM portfolio. All exposures under this facility will also be exempted from reckoning under the large exposure framework (LEF)," the central bank said.

22 Oct 2020, 08:18:31 AM IST

Stocks to Watch

Banks, NBFCs, Asian Paints, UltraTech Cement will be in focus today.

Bajaj Auto, Bharti Infratel, HDFC Asset Management Company, SBI Cards and Payment Services, Hexaware Technologies are among the 48 companies scheduled to announce their quarterly earnings today

BHEL, Canara Bank, Indiabulls Housing Finance, Vodafone Idea, Mindtree, NALCO and Punjab National Bank are under the F&O ban for 22 October. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

22 Oct 2020, 08:16:08 AM IST

SGX Nifty lower

Indian equities may be subdued today in line with weakness in global peers. The SGX Nifty futures were down 0.36% at 11,887.00, indicating a weak start to benchmark indices.

22 Oct 2020, 08:12:54 AM IST

Asian stocks may be volatile

Asian investors prepared for rough trading on Thursday after a bumpy overnight session on Wall Street amid fears that agreement on a key U.S. stimulus bill will not be reached until after the presidential election on November 3.

In early Asian trade, Australian stocks while MSCI's gauge of stocks across the globe shed 0.06%.

On Wednesday, the Nikkei 225 index closed up 0.31% at 23,639.46. The futures contract is down 0.31% from that close.

Hong Kong's Hang Seng index futures were up 0.32%.

22 Oct 2020, 08:06:38 AM IST

US equities slip as coronavirus stimulus package remains elusive

Wall Street's stocks decline in choppy trade on Wednesday as investors tracked ongoing negotiations in Washington related to the coronavirus stimulus package.

U.S. House of Representatives Speaker Nancy Pelosi said she hoped to resolve the "appropriations piece" of the aid bill later in the day.

The S&P 500 fell 7.56 points to 3,435.56. The Dow Jones Industrial Average lost 97.97 points, or 0.4%, to 28,210.82 while the Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69.

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