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Sensex closes 69 pts lower, Nifty at 17,380; media stocks outperform

Market closing: Indian indices closed 0.12% higher on Tuesday.Premium
Market closing: Indian indices closed 0.12% higher on Tuesday.

Market closing: The Sensex closed at 58,247.09, up 69.33 points or 0.12%, Nifty at 17,380.00, up 24.70 points or 0.14%. Financials, FMCG, metals top drags

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Sensex, Nifty closed 0.12% higher on Tuesday. India’s wholesale price inflation accelerated to 11.39% in August after easing for two consecutive months as producers regain pricing power with economy showing sure signs of recovery. In other news, Zomato co-founder Gaurav Gupta quit the foodtech firm just two months since its listing

14 Sep 2021, 03:47:48 PM IST

Rupee closes unchanged at 73.68 (provisional) against US dollar

14 Sep 2021, 03:47:31 PM IST

Market closing: Gaurav Udani, CEO  and founder, ThincRedBlu Securities

"Nifty traded in a small range today. It closed at 17380 up by 25 points. Nifty is facing strong resistance in 17420-17450 range. It is important for Nifty to close above 17450 with higher than average volumes to continue its upward journey. Nifty has strong support in 17250-17300 range and traders can use buy on dips strategy keeping a strict stop loss in the current markets."

14 Sep 2021, 03:44:48 PM IST

Market closing

Sensex at close
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Sensex at close
14 Sep 2021, 03:19:05 PM IST

HAL signs production pact with Rolls-Royce

HAL has signed a pact with Rolls-Royce for Make in India Adour engine parts for global markets.

14 Sep 2021, 03:15:57 PM IST

DRDO contracts Godrej, 9 other cos to manufacture oxygen generators

The Defence Research and Development Organisation (DRDO) has contracted 10 private sector players, including city-based Godrej & Boyce (G&B), to manufacture oxygen generators. Godrej Precision Engineering (GPE), a unit of G&B, has received the order from the Defence Bio-engineering and Electromechanical Laboratory (DEBEL), a DRDO laboratory in Bengaluru, to manufacture oxygen generators, G&B said in a statement.

14 Sep 2021, 03:08:59 PM IST

Srei Infra CEO Rakesh Bhutoria resigns

In a fresh setback, Srei Infrastructure Finance has suffered another blow as its chief executive Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process, sources said on Tuesday.

14 Sep 2021, 02:58:39 PM IST

Kotak Mahindra Bank, TCS top gainers

Index contribution
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Index contribution
14 Sep 2021, 02:53:38 PM IST

Indian study finds big drop in covid antibodies within four months of vaccination

A study of 614 fully vaccinated health workers in India found a "significant" drop in their COVID-fighting antibodies within four months of the first shot. The findings could help the Indian government decide whether to provide booster doses as some Western countries reuters.com/world/uk/uk-pm-johnson-set-out-covid-19-booster-strategy-under-winter-plan-2021-09-13 have done. (Reuters)

14 Sep 2021, 02:49:17 PM IST

Indian study finds big drop in COVID antibodies within four months of vaccination

A study https://www.researchsquare.com/article/rs-888762/v1 of 614 fully vaccinated health workers in India found a "significant" drop in their COVID-fighting antibodies within four months of the first shot. The findings could help the Indian government decide whether to provide booster doses as some Western countries reuters.com/world/uk/uk-pm-johnson-set-out-covid-19-booster-stra tegy-under-winter-plan-2021-09-13 have done.

14 Sep 2021, 02:48:12 PM IST

DCM Shriram Industries sets Oct 11 as record date for share split

14 Sep 2021, 02:46:33 PM IST

Madras HC uploads order on withdrawing mandatory bumper-to-bumper motor insurance cover

14 Sep 2021, 02:13:26 PM IST

Laurus Labs gains

Laurus Labs' stock was trading at 655.10 apiece, up 1.42% at 2:12 pm. The company says that development is underway based on an agreement launched in June 2021 between the company, Unitaid and the Clinton Health Access Initiative (CHAI), to accelerate the development, commercialization, and registration of HIV treatment darunavir boosted with ritonavir (DRV/r) for children.

14 Sep 2021, 02:10:04 PM IST

HG Infra gains

HG Infra's stock was trading at 607.00 apiece, up 1.45% at 2:09 pm. The company has won a 448.11 crore order from the Public Works Department (PWD), Rajasthan.

14 Sep 2021, 02:04:04 PM IST

GST Council to discuss considering food delivery apps as restaurant services

14 Sep 2021, 02:01:19 PM IST

India's cotton production to fall by 1% due to lackluster rainfall: Fitch

Fitch Solutions said on Tuesday it expects cotton production in India to fall by one per cent year-on-year to 28.3 million 480lb bales in 2021-22 (previously two per cent growth) due to lacklustre rainfall throughout July and August, the main planting times. Rainfall in Gujarat -- the country's top producing state (accounting for around a third of the country's annual production -- is almost 30 per cent below its long-term average as of mid-September which has reduced the area available for planting and weighed on yields. In addition, said Fitch, the recent outbreak of pink bollworm in Bhatinda and Mansa will probably also act as a drag on yields. Nevertheless, production should bounce back in 2022-23, providing that weather normalises and that the outbreak of pink bollworm is adequately contained.

14 Sep 2021, 01:59:21 PM IST

Tata Steel commissions India’s first plant for CO2 capture from Blast Furnace gas at Jamshedpur

14 Sep 2021, 01:58:31 PM IST

Tata Sons is considering a revamp of its leadership structure, reports Bloomberg

14 Sep 2021, 01:53:17 PM IST

Vistara says Vinod Kannan appointed as CEO, to replace Leslie Thng

14 Sep 2021, 01:45:40 PM IST

Coforge, HCL Tech drive sectoral gains

Nifty IT index
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Nifty IT index
14 Sep 2021, 01:39:56 PM IST

TCS, Kotak Bank drive Sensex gains

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Index contribution
14 Sep 2021, 01:37:44 PM IST

Solana remains investor favourite as global crypto funds get $57mn inflows

Global crypto funds posted the fourth straight week of inflows last week, attracting $57 million, with cryptocurrency Solana alone bagging $50 million, digital asset manager CoinShares said. A combination of price appreciation and inflows now brings Solana’s assets under management (AM) to $97 million, the 5th largest of all investment products.

14 Sep 2021, 01:27:33 PM IST

Prestige plans new projects as demand for homes in India revives

Prestige Estates Projects Ltd is targeting new projects, including three residential ones in financial hub Mumbai, in the current fiscal year as demand for homes in India revives, the company’s chief executive officer said. The property developer based in Bengaluru is planning new projects, including residential and commercial, of as much as 15 million square feet in the current fiscal year, with the three projects in Mumbai to be unveiled in the quarter starting Oct. 1, chief executive Venkat K. Narayana said in an interview on Bloomberg TV Tuesday. He reiterated the aim to get more than 60 billion ($815 million) from home bookings in the year ending March 2022.

14 Sep 2021, 01:26:25 PM IST

India tax panel said to consider folding fuel sales into GST

An Indian ministerial panel on the country’s goods and services tax will consider taxing petroleum products under a single national rate, according to people familiar with the matter, opening the door for a potential major change in consumer prices and government revenue. The panel, headed by Finance Minister Nirmala Sitharaman, will examine the proposal at its meeting Friday after an Indian court asked for the matter to be taken up, the people said, requesting not to be identified as the agenda of the meeting isn’t public. A spokesperson for the finance ministry didn’t immediately respond to calls for comment. (Bloomberg)

14 Sep 2021, 01:14:27 PM IST

99% of Indian SMBs plan to offer contactless services permanently: Salesforce

As small and medium businesses (SMBs) are adopting technology to help their businesses, 99% of such SMBs in India plan to offer contactless services permanently, according to a ‘Small and Medium Business Trends’ report based on a survey conducted by The Harris Poll on behalf of Salesforce. The services are led by secure digital payments (78%), mobile order (68%), and digital customer service (62%). (Read more)

14 Sep 2021, 01:12:57 PM IST

GCPL to scale partnership with InMobi

Fast moving consumer products company Godrej Consumer Products Limited (GCPL) is set to scale its work with advertising-technology company InMobi to further build its digital marketing capabilities. GCPL sells products such as Cinthol soaps and Hit mosquito repellents. The partnership will see the two work on more personalized videos and expand the reach of GCPL’s products and campaigns to more consumers who are increasingly spending time online. The company said it already personalized online videos for its insecticide brand Kala HIT, for instance, through its work with InMobi in the aftermath of the pandemic.

14 Sep 2021, 01:11:41 PM IST

Eleven states meet Centre's capex target, can borrow Rs15,721 crore from market

The Centre has allowed 11 states to borrow an additional Rs15,721 crore from the market after they achieved the capital expenditure target, set by the finance ministry, for June quarter of the current fiscal. The states are - Andhra Pradesh ( 2,655 crore), Bihar ( 1,699 crore), Chhattisgarh ( 895 crore), Haryana ( 2,105 crore), Kerala ( 2,255 crore), Madhya Pradesh ( 2,590 crore), Manipur ( 90 crore), Meghalaya ( 96 crore), Nagaland ( 89 crore), Rajasthan ( 2,593 crore) and Uttarakhand ( 654 crore). (Read more)

14 Sep 2021, 12:58:18 PM IST

Amara Raja, Hero MotoCorp drive gains

Nifty auto index
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Nifty auto index
14 Sep 2021, 12:53:15 PM IST

India remains an attractive destination for investments: Deloitte survey

India remains an attractive destination for foreign direct investments (FDI) on account of healthy prospects of economic growth and its skilled workforce, according to a survey by Deloitte. A large proportion of international business leaders remain confident in India's short- and long-term prospects and are readying plans to make additional and first-time investments in the country, it said on Tuesday. "The survey, which questioned 1,200 business leaders of multinational corporations in the US, UK, Japan and Singapore, found that India remains an attractive destination for investments, scoring highly for its skilled workforce and prospects for economic growth," the survey - India's FDI Opportunity - said. (PTI)

14 Sep 2021, 12:51:28 PM IST

Ford India withdrawal: workers await severance plans 

14 Sep 2021, 12:41:54 PM IST

Wholesale price inflation accelerates to 11.39% in August

India’s wholesale price inflation accelerated to 11.39% in August after easing for two consecutive months as producers regain pricing power with economy showing sure signs of recovery. Data released by the industry department on Tuesday showed food inflation contracted 1.29% in August while fuel inflation and manufactured products inflation rose to 26.09% and 11.39% respectively during the same month. In August, most food items contracted except pulses (9.41%) and onion (62.78%). In manufactured products, food products (12.59%), textiles (17%), chemicals (12.11%), basic metals (27.51%) drove the overall inflation signaling regaining of pricing power by producers with the economy gaining pace.

 

14 Sep 2021, 12:30:56 PM IST

Zomato co founder Gaurav Gupta quits 

14 Sep 2021, 11:52:43 AM IST

Godawari Power Ispat gains

Godawari Power Ispat's shares were trading at 1,269.90 apiece, up 5.00% at 11:52 am. The company has decided to withdraw the scheme for demerger of power business undertaking of Jagdamba Power & Alloys Ltd and merger with itself. It has also withdrawn the proposal for divestment of equity stake in Godawari Green Energy Ltd. Godawari Power's board has approved a proposal for sub-division of equity shares in the ratio of 1:2.

14 Sep 2021, 11:41:10 AM IST

Union Bank of India inks its first sustainability-linked overseas loan

State-owned Union Bank of India through its international banking division on Tuesday announced that it has secured a sustainability-linked loan aggregating to total syndicated facility of $1.5 billion with one of the leading trading corporates globally. Under the facility, Union Bank of India will include three key performance indicators (KPIs) relating to a reduction in greenhouse gas emissions, responsible sourcing of metals and growing renewable power portfolio. The sustainability-linked KPIs will have to be tested annually and verified by a third-party expert. Under this structure, the interest rate paid by the borrower on the credit facilities will decrease or increase based on the group’s progress on three key performance indicators (KPIs), the bank said in a statement.

14 Sep 2021, 11:32:45 AM IST

Credit Card Business Monitor: Axis Securities

Growth picks up as COVID 2.0 headwinds ease: The Jul’21 data suggests a sharp rebound in new card issuances and spends as lockdowns and restrictions ease across geographies. On a YTD basis, the credit card industry witnessed a sharp improvement in spends, albeit on a marginally lower base. New card sourcing picked up momentum, supporting Cards-in-Force (CIF) growth of 10% YoY. In Jul’21, the business volumes grew by 38% YoY, which we believe were aided by the increasing shift towards online spending. On a YTD basis, spends witnessed a robust growth of 78% YoY. The new customer additions have shown an improvement in MoM and are expected to improve further thus aiding CIF growth.

 

Outlook: The relaxations in the COVID 2.0 related lockdowns and a gradual pick-up in the economic activities have aided a strong revival in spends, new sourcing, and business volumes in Jul’21. The forthcoming festive season will lend further support to the picked-up momentum in the spends and new customers sourcing. However, a possible COVID 3.0 remains a key risk. We continue to believe that Citi Bank’s exit from the credit cards business along with the domestic corporate loan recovery cycle yet to pick up, provides good growth opportunities for the credit cards business, supported by improving macro-conditions.

14 Sep 2021, 11:15:01 AM IST

Oil hits 6-week high on fears of U.S. supply disruptions from storm Nicholas

Oil prices hit a six-week high on Tuesday on concerns that another storm could affect output in Texas this week even as the U.S. industry struggles to return to normal production levels after Hurricane Ida wreaked havoc on the Gulf Coast. Oil prices rallied for a third straight day, with Brent crude hitting the highest since Aug. 2 earlier in the session. Brent crude was up 40 cents, or 0.5%, at $73.91 a barrel at 0444 GTM, having risen as high as $74.08 earlier. U.S. West Texas Intermediate (WTI) crude also climbed 45 cents, or 0.6%, to $70.90 a barrel, having risen as far as $71.05 earlier -- its highest since Aug. 3. Brent gained 0.8% while WTI rose 1.1% on Monday. (Reuters)

14 Sep 2021, 11:09:56 AM IST

Hiring sentiment improves 40% to 7-year high; services, manufacturing sectors to be job creators

Indian employers are bullish on hiring for October to December period with 64% of employers forecasting an increase in payrolls, 20% anticipating a decrease and 15% expecting no change, according to the Manpower-Group Employment Outlook Survey.

14 Sep 2021, 11:09:08 AM IST

KNR Constructions sees investor confidence lifted by fresh contract in Telangana

KNR Constructions Ltd stock saw gains of more than 7% in morning trades on Tuesday. The investor interest was boosted by the company receiving a letter of acceptance (LOA) for 313 crore order in Telangana. The LOA from Hyderabad Growth corridor limited (HGCL) is towards widening of Existing Service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad, in the state of Telangana,

14 Sep 2021, 10:55:28 AM IST

European steel to miss climate goals without technology shift

Europe’s steel industry must shift to low-carbon technologies from coal-fired blast furnaces within 12 years to prevent global warming exceeding the targets set by the Paris Agreement on climate change. New or refurbished blast furnaces have a lifespan of as long as two decades, highlighting the risk of long-term climate impacts if the switch isn’t made by 2033, according to a report from research house Industry Tracker. By contrast, many of the region’s steelmakers lack long-term plans to reduce emissions, it said. The steel industry worldwide is responsible for about 7% of global carbon emissions. Without action, Europe’s steelmakers would exhaust their carbon budget -- the amount they can emit before compromising Paris climate change goals -- by 2035, Industry Tracker said.

14 Sep 2021, 10:51:13 AM IST

Cabinet to take up incentives for the auto industry on Wednesday

The Union cabinet is likely to consider a production linked incentive (PLI) scheme for specific segments in the automobile sector on Wednesday, a person familiar with the development said. This will be part of the overall PLI schemes for 13 sectors announced by the government in the Union Budget 2021-22, with an outlay of Rs1.97 lakh crore. Prepared by the ministry of heavy industries, the latest scheme will cover automobiles and auto components, the person said. (Read more)

14 Sep 2021, 10:42:53 AM IST

Aluminium, nickel prices fall ahead of US inflation data

Shanghai aluminium and nickel prices fell on Tuesday, as investors exercised caution ahead of key U.S. inflation data and reduced exposure after a supply shortage-driven rally in both metals earlier this month. The most-traded October aluminium contract on the Shanghai Futures Exchange fell 3% to 22,660 yuan a tonne at 0355 GMT, retreating after eight straight sessions of gains. ShFE nickel dropped as much as 4.3% to 146,280 yuan a tonne, retreating from its record high of 155,140 yuan a tonne hit two sessions earlier. ShFE copper fell 1.3% to 70,360 yuan a tonne, zinc declined 1.4% to 22,670 yuan a tonne and lead decreased 1.5% to 14,900 yuan a tonne.

14 Sep 2021, 10:35:20 AM IST

Indian stocks outpacing the world by most since 2018 encourages bulls

Indian stocks are throwing up rare signals pointing to the possibility of further gains after a powerful rally. The MSCI India index beat the MSCI World gauge of developed nations by more than six percentage points last month, the biggest gap since 2018. The average return from the India gauge 12 months out after such relative outperformance is 15%, according to data compiled by Bloomberg. (Read more)

14 Sep 2021, 10:33:56 AM IST

India, Singapore link fast payments systems: UPI and PayNow

14 Sep 2021, 10:27:58 AM IST

S.Korea fines Google $177 mn for blocking Android customisation

A South Korea's antitrust regulator has fined Alphabet Inc's Google 207 billion won ($176.64 million) for blocking customised versions of its Android operating system (OS), in the U.S. technology giant's second setback in less than a month. The Korea Fair Trade Commission (KFTC) on Tuesday said terms with device makers amounted to abuse of Google's dominant market position that restricted competition in the mobile OS market. Google in a statement said it intends to appeal. It said the ruling ignores benefits offered by Android's compatibility with other programs and undermines advantages enjoyed by consumers.

14 Sep 2021, 10:26:40 AM IST

Rupee rises 7 paise to 73.61 against US dollar in early trade

14 Sep 2021, 10:25:44 AM IST

Today's call: ICICI Securities

Stock recommendations
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Stock recommendations
14 Sep 2021, 10:23:10 AM IST

Market outlook: ICICI Securities

Equity benchmarks traded lacklustre on Monday to start the week on softer note. The Nifty ended at 17355, down 14 points as profit booking in some private banks and RIL weighed on the index while metals turned out to be top sectoral gainers (+1.47%). The Midcap and Small cap indices gained ~0.5% as advances outnumbered declines marginally.

 

Technical Outlook

· The Nifty commenced trade with loss led by weak global cues, only to recover entire 100 points from day’s low midway through session. Markets then turned stock specific as index remained directionless in second half. The price action formed another small bodied candle indicating extended breather as market awaits further cues on possibility of a third Covid-19 wave and progression of vaccination. The index has been trading in a narrow band for past five sessions indicating abating upward momentum after a sharp 12% rally in just five weeks, that led daily and weekly stochastics in overbought trajectory (readings beyond 90). Meanwhile Nifty small cap index extended relative outperformance

· We expect markets to remain stock specific, with Nifty undergoing a healthy consolidation. Hence, it would be prudent to stick to buy on decline strategy to accumulate quality stocks as over past 15 months such strategy has worked well for investors. As we do not expect Nifty to breach 16900 in consolidation phase, dips towards psychological level of 17000 would offer incremental buying opportunity in coming week

· Structurally, our broader positive stance is intact with Nifty gradually heading to 17600 in September 2021 as it is the price parity of July-August rally (15515-16700), projected from mid-August low of 16376. Sectoral churn amid consolidation would make overall strength healthy, going ahead

· On expected lines, broader market indices have regained upward momentum and hit new lifetime high confirming broader structural uptrend. We expect stock specific action to continue and broader indices to relatively outperform Nifty in coming week. Structurally, the formation of higher high and low, signifies continuance of positive bias which makes us confident to revise support base upward at 16900, as it is 50% retracement of current up move (16376 -17436)

14 Sep 2021, 10:06:52 AM IST

Gold price today falls for third time in 4 days, down ₹9,500 from record highs

Gold continued to trade in a narrow range today amid subdued global cues. On MCX, gold futures were down 0.1% to 46,860 per 10 gram in their third decline in four days while silver futures edged 0.23% lower to 63,155 per kg. In India, gold rates are hovering near one-month low as uncertainty over Fed tapering timeline and a stronger dollar weigh on the precious metal. In August last year, gold had hit a record high of 56,200 per 10 gm. (Read more)

14 Sep 2021, 10:06:11 AM IST

Ami Organics lists at 49% premium over issue price

Shares of Ami Organics Ltd made a stellar debut on Tuesday. The stock was listed at 910, a 49.18% % premium over its issue price of 610 a piece on the NSE. During its share sale, the issue worth 569.64 crore was subscribed 64.54 times. The company is well placed to tap opportunity in the fast growing specialty chemical market by leveraging its strong R&D and expanding product portfolio, said Sneha Poddar, research analyst, Motilal Oswal Financial Services Ltd. Poddar thinks that the issue is reasonably valued at 41.2 times FY21 price to earnings on post issue basis, while it enjoys higher growth. (Read more)

14 Sep 2021, 10:04:54 AM IST

Vijaya Diagnostic opens 2% higher on debut

Shares of Vijaya Diagnostic Centre Ltd opened at a marginally higher from issue price after its initial public offering got tepid response with subscribing just over 4 times. The stock opened at 542.30 on BSE, up 2.31% from its issue price of 531 a share. At 10.05 am, the scrip was trading at 566.70, up 6.77% from its issue price. The firm currently trading at p/e multiple of 64x on FY21 PAT basis, analysts say.

14 Sep 2021, 10:01:45 AM IST

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

"We are inching to get past the 14,450 levels this morning. The Nifty has opened with a gap and if this sustains, we will climb higher to 17,550 and 17,750 as the next target levels. 17,250 is a strong base for the markets and any dip or intra day correction can be utilized to buy for higher targets."

14 Sep 2021, 09:56:21 AM IST

Sharp India considers voluntary delisting of shares

14 Sep 2021, 09:42:29 AM IST

Cryptocurrency prices today: Bitcoin, ether, dogecoin fall. Check latest rates here

Cryptocurrency prices today were trading marginally lower with Bitcoin hovering at $45,246. The world's largest cryptocurrency by market capitalization has gained over 56% this year (year-to-date), though, much lower from nearly $65,000 record high it hit in April. (Read more)

14 Sep 2021, 09:39:27 AM IST

India reports 25,404 new covid-19 cases

14 Sep 2021, 09:38:13 AM IST

ZEEL, DishTV drive gains

Nifty Media index
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Nifty Media index
14 Sep 2021, 09:32:20 AM IST

Media stocks surge

Nifty sectoral indices
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Nifty sectoral indices
14 Sep 2021, 09:25:37 AM IST

Market opening

The Sensex opened at 58,482.62, up 304.86 points, or 0.52%, while Nifty was at 17,420.35, up 65.05 points or 0.37%. Media stocks outperform

Sensex at open
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Sensex at open
14 Sep 2021, 09:06:29 AM IST

India govt discusses option to convert part telco interest dues into equity: report

14 Sep 2021, 09:03:28 AM IST

Airtel plans co-branded handsets to take on Jio in move to ringfence 2G subscribers: report

14 Sep 2021, 09:03:09 AM IST

HCL Technologies, Hancom Announce Strategic Partnership

14 Sep 2021, 08:55:33 AM IST

Pre-market opening quote: Gaurav Udani, CEO and founder, ThincRedBlu Securities. 

"Nifty is expected to open positive at 17,405, up by 40 points since yesterday's close. Since the last few trading sessions Nifty has been taking strong support in the 17,250-17,300 range and has been facing resistance in the 17,420-17,450 range. A close above 17,450 with higher than average volumes may take Nifty to 17,550. Traders in long positions should consider booking profits if Nifty closes below 17,250." - 

14 Sep 2021, 08:53:17 AM IST

Stocks to Watch

DMart, airline scrips, DishTV, ZEEL, Vedanta, Voda Idea, among other stocks may be in the news today. (Read more)

14 Sep 2021, 08:46:02 AM IST

Biden to host first in-person Quad Leaders Summit on 24 Sep

US President Joe Biden will host the first-ever in person Quad Leaders Summit at the White House on 24 September, the White House announced Tuesday. A statement by White House spokeswoman Jen Psaki said that “President Biden is looking forward to welcoming to the White House Prime Minister Scott Morrison of Australia, Prime Minister Narendra Modi of India, and Prime Minister Yoshihide Suga of Japan." (Read more)

14 Sep 2021, 08:37:35 AM IST

Canara Bank, LIC Housing Finance among stocks under F&O ban on NSE today

As many as five stocks/securities have been put under the futures & options (F&O) ban by the National Stock Exchange (NSE) for trade on Tuesday, September 14, 2021. These securities are banned under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE. (Read more)

14 Sep 2021, 08:29:33 AM IST

Market outlook

Markets are likely to be stable on Tuesday while trends in SGX Nifty indicate a positive of Indian benchmark indices. On Monday, the BSE Sensex ended at 58,177.76, down 127.31 points and the Nifty was at 17,355.30, down 13.95 points. (Read more)

14 Sep 2021, 08:18:20 AM IST

Jindal Steel and Power's Australian arm restarts operations at its Russell Vale mine: report

14 Sep 2021, 07:59:23 AM IST

Drop in retail inflation is a comfort but some spoilers lie ahead

There seems to be good news on the inflation front. Retail inflation based on consumer price index (CPI) has dropped to a four-month low in August, primarily led by a fall in prices of vegetables. If this trend continues, economists believe there is a chance for the average inflation to undershoot the Reserve Bank of India’s forecast. (Read more)

14 Sep 2021, 07:43:34 AM IST

Asian stocks witness steady start

Asian stocks were steady Tuesday after the U.S. snapped a five-day drop ahead of inflation data that could impact expectations of the likely timeline for a reduction in Federal Reserve stimulus. Japan’s Nikkei 225 Stock Average edged up and was on track for its highest close since 1990. South Korea climbed but Australia slipped. U.S. contracts fluctuated after energy firms bolstered the S&P 500 overnight. Treasury yields held a retreat and the dollar was little changed. Commodities have surged to a 10-year high, with materials from aluminum to steel rallying and European gas and power hitting records. The escalating cost pressures come as traders await a report expected to show an annual pace of U.S. inflation of 5% or more for a fourth month. Chinese technology shares listed in the U.S. declined for a fourth day on Beijing’s regulatory crackdown. The debt crisis at China Evergrande Group will be closely watched amid mounting protests by homebuyers, retail investors and employees. The developer said it hired financial advisers to assess its capital structure.

S&P 500 futures rose 0.1% as of 9:26 a.m. in Tokyo. The S&P 500 rose 0.2%

Nasdaq 100 contracts added 0.1%. The Nasdaq 100 was little changed

Topix index rose 0.4%

Australia’s S&P/ASX 200 Index fell 0.4%

Kospi index gained 0.7%

Hang Seng Index futures rose 0.2% earlier

14 Sep 2021, 07:30:56 AM IST

US stocks snap slide 

U.S. stocks snapped a five-day slide, with energy companies leading the gains as crude oil extended a rally to a six-week high. Bonds yields declined and the dollar was little changed versus its major peers. The benchmark S&P 500 closed in the green after fluctuating between gains and losses for much of the trading session. A drop in Moderna helped to keep the Nasdaq 100 in negative territory. OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere. Industrial metals rose, with aluminum reaching $3,000 a ton in London for the first time in 13 years amid supply disruptions. 

The S&P 500 rose 0.2% as of 4:07 p.m. New York time

The Nasdaq 100 was little changed

The Dow Jones Industrial Average rose 0.8%

The MSCI World index was little changed

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