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Sensex dips 338 pts dragged by HDFC Bank, RIL; Nifty ends below 15k; metals slip

Market closing: Indices closed lower for second day in a row..Premium
Market closing: Indices closed lower for second day in a row..

  • Market Closing: Indian indices tumbled in the last hour of trade on Thursday to end lower for the second day in a row with metals and banks being the biggest drag. The Nifty Metal index fell 3%

Indian stock markets fell sharply in the fag end of trade on Thursday to close lower for the second day in a row. Sensex closed 338 points lower and Nifty settled below 15,000 mark dragged by metals and banks. Stocks were mixed globally

20 May 2021, 03:34:47 PM IST

Markets end lower for the second day in a row

Benchmark equity indices ended lower for the second day in a row on Thursday. Sensex closed 338 points lower at 49,565 while Nifty ended down 0.8% at 14,906. Barring realty, most sectors ended in the red with Nifty Metal settling 3.2% lower. Smallcap stocks were the outperformers in a weak market.

HDFC Bank, ICICI Bank, Reliance were the biggest contributors to the fall on the Sensex. M&M and IndusInd Bank were the best gainers among the nine stocks that ended in the green on the 30-share index.

Sensex at close
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Sensex at close
20 May 2021, 03:22:59 PM IST

India's largest vial maker expects sales to triple on covid-19 vaccine ramp up: Reuters

Indian drug vial maker Schott Kaisha is expecting annual vial sales for covid-19 shots to more than triple as vaccine production, including by one of its top customers Serum Institute, increases in response to a monster second wave of infections.

20 May 2021, 03:12:24 PM IST

HPCL down 2.3% ahead of March quarter earnings

20 May 2021, 03:02:24 PM IST

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance

“Indian markets opened positive but soon started trading in negative following mixed Asian markets as minutes showed some Federal Reserve officials contemplating a wind-down of its vast monetary easing measures, while optimism remained buoyed by the outlook for the economic recovery. During the afternoon session markets continued to trade in red as selling was witnessed in Metal, Telecom and Oil & Gas stocks. Traders were also worried as private reports stated that the government's strategic divestment plans for the fiscal year 2021-22 has slowed down due to the second wave of COVID-19. During the Budget presented in February, the government set an ambitious disinvestment target of 1.75 lakh crore for FY22."

20 May 2021, 02:55:44 PM IST

Bosch reports nearly 5 times rise in net profit to ₹483 crore in March quarter, shares up 7%

20 May 2021, 02:47:13 PM IST

HDFC, ICICI Bank drag Sensex to day's low

BSE
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BSE
20 May 2021, 02:35:05 PM IST

Accepting vaccinated passengers should be global best practice: IATA

20 May 2021, 02:28:35 PM IST

Most sectors under pressure, realty outperforms

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20 May 2021, 02:18:23 PM IST

Gold near four-month high

Gold steadied near the highest level in more than four months as investors assessed the minutes from the Federal Reserve’s April meeting that flagged the possibility of a debate on scaling back asset purchases.

Spot gold rose 0.2% to $1,873.83 an ounce in London.

20 May 2021, 02:09:07 PM IST

Fitch revises outlook on JSW Steel to positive, affirms BB-

20 May 2021, 01:58:24 PM IST

Global shares mixed

World shares were mixed on Thursday as Japan reported strong trade data signaling a recovery in demand from the pandemic.

Germany's DAX nad France's CAC 40 rose 0.6%. Britain's FTSE added 0.4%. Futures for the S&P 500 and for the Dow industrials both slipped 0.1%.

In Asia, the Nikkei 225 regained lost ground, edging 0.2% higher, while Sydney's S&P/ASX 200 surged 1.3%. In Hong Kong, the Hang Seng slipped 0.6%, while Seoul's Kospi declined 0.3%. Shares rose in Singapore and Jakarta but fell in Taiwan.

20 May 2021, 01:49:43 PM IST

Sensex check: Flat in range-bound trade

Sensex
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Sensex
20 May 2021, 01:30:37 PM IST

Deepak Fertilisers up 3%

The Centre on Wednesday hiked the subsidy on DAP fertiliser by 140%, costing the exchequer an additional 14,775 crore, in a bid to ensure the soil nutrient is available to farmers at old rates despite a sharp rise in global prices.

The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi.

BSE
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BSE
20 May 2021, 01:19:03 PM IST

Aerosols carrying Covid-19 virus can travel in air up to 10 meters: Centre

20 May 2021, 01:09:57 PM IST

IT Dept to launch new e-filing portal for taxpayers on 7 June: PTI

The Income Tax Department is expected to launch a new e-filing web portal for taxpayers, which they use to file routine ITRs and perform other tax-related works, on 7 June, officials said on Thursday.

The existing web portal will be shut for six days between June 1-6.

Officials said the new portal will be made more user-friendly.

20 May 2021, 01:00:08 PM IST

TCI Express’ highest ever quarterly Ebitda margin takes the stock to new highs

Shares of TCI Express Ltd jumped more than 10% on Thursday in early deals.

TCI’s earnings before interest, tax, depreciation and amortization (Ebitda) last quarter more than doubled on a year-on-year basis to Rs54.4 crore. This translates into an Ebitda margin of 19.4%, representing an expansion of 820 basis points vis-à-vis the same period last year. (Full report)

20 May 2021, 12:45:37 PM IST

Greenko founders invest in India’s private space launch firm along with Myntra founder Mukesh Bansal

Greenko founders Mahesh Kolli and Anil Kumar Chalamalasetty have invested in Skyroot Aerospace, an Indian startup that is building private space launch vehicles.

The $11 million series-A financing round was led by Kolli and Chalamalasetty who are president and joint managing director, and chief executive and managing director respectively at green energy firm Greenko, that has an equity value of $5.75 billion.

20 May 2021, 12:34:56 PM IST

Dr Reddy's in talks with RDIF on Sputnik V for other countries: PTI

Dr Reddy's Laboratories, which is in a pact with Russian Direct Investment Fund to sell 125 million people doses (250 million vials) of covid-19 vaccine Sputnik V in India, is holding parleys with RDIF for acquiring rights for more countries, a senior official of the Indian drug maker said.

20 May 2021, 12:24:45 PM IST

Nifty smallcap, midcap in the green

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20 May 2021, 12:19:15 PM IST

Motilal Oswal hits first close of new fund at ₹650 crore

Motilal Oswal Real Estate, the realty-focussed private equity arm of Motilal Oswal Financial Services Ltd, has achieved the first close of India Realty Excellence Fund V (IREF V), its fifth real estate fund. The fund, launched with a target corpus of 800 crore, has received commitments of around 650 crore.

The remaining capital will be raised over the next couple of months, the fund said on Thursday.

The new fund has been raised from high net-worth individuals (HNIs) and family offices and has been set up as an alternative investment fund (AIF Category II).

20 May 2021, 12:04:23 PM IST

Sensex at noon

BSE
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BSE
20 May 2021, 11:50:14 AM IST

Nifty FMCG under pressure

NSE
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NSE
20 May 2021, 11:39:01 AM IST

Indiabulls Housing Finance's asset quality troubles ease but not over yet

Mortgage lender Indiabulls Housing Finance Ltd’s March quarter metrics show that it managed to keep its asset quality from worsening sharply due to the pandemic in FY21. While its headline asset quality metrics have worsened over the year, the damage is lower than anticipated.

The lender’s gross bad loan ratio has climbed to 2.66% from 1.8% a year ago. However, Indiabulls Housing Finance’s bad loan pile has grown 25%, an indication that stress has indeed risen. But much of this was expected given the pandemic. (Full report)

20 May 2021, 11:27:56 AM IST

Cipla gains 2%; launches RT-PCR test kit in India with Ubio Biotech

The drug major on Thursday announced the commercialisation of its RT-PCR test kit 'ViraGen' for covid-19 in India, in partnership with Ubio Biotechnology Systems.

"This launch will help address the current testing services and capacity issues while reaffirming the company's ongoing expansion in the diagnostic space," Cipla said in a regulatory filing.

20 May 2021, 11:17:20 AM IST

Polycab India hit fresh highs this week after firm Q4 performance

Polycab India scaled fresh highs this week, with the stock rising more than 50% year to date. The strong growth in its wires and cables segment, fast-growing FMEG portfolio, growing international business have driven Street sentiments. Analysts at Yes Securities Ltd said that revenues were 12% ahead of their estimates. (Full report)

20 May 2021, 11:06:50 AM IST

JK Tyre stock up 5% on robust March quarter earnings

Investors are quite impressed by the March quarter earnings of JK Tyre & Industries Ltd. Reacting to its results, the stock surged around 5% on the NSE in Thursday's opening trade. The sharp up move in the stock is despite continued cost pressure impacting its margin. On a consolidated basis, it swung to profit in Q4FY21 with net profit at Rs189 crore compared to a net loss of Rs47 crore in the same quarter last year. Recovery in the automobile sales to pre-Covid levels has aided this recovery earnings.

20 May 2021, 10:56:56 AM IST

ICMR approves Mylab-made kit for rapid Covid home testing

The Indian Council of Medical Research (ICMR) on Wednesday approved a home-based rapid antigen testing (RAT) kit for COVID-19, which it advised should be used only on symptomatic individuals and on immediate contacts of laboratory confirmed positive cases.

The country's apex health research body said that the home-based rapid antigen testing kit manufactured by Mylab Discovery Solutions Ltd, Pune, has been validated and approved.

20 May 2021, 10:46:37 AM IST

Gold prices fall

Gold prices fell in Indian markets while silver extended decline to the third straight day, tracking lackluster global cues. On MCX, gold futures were down 0.32% to 48,520 while silver was 0.4% lower at 72,073 per kg.

On MCX, gold has support at 48000-47900 levels which when breached with heavy volume could lead to a downfall till 47700 levels, say analysts at CapitalVia Investment Advisor. For silver, support is at 71050-70900 levels.

20 May 2021, 10:34:45 AM IST

ONGC down 2%

The oil ministry on Wednesday constituted a high-level committee to enquire into the sequence of events leading to the stranding of three vessels of a contractor of ONGC in cyclone 'Tauktae'.

20 May 2021, 10:20:35 AM IST

Dewan Housing Finance up 4%

The National Company Law Tribunal has directed lenders of bankrupt DHFL to consider the offer made by former promoter Kapil Wadhawan, who has proposed to fully settle the mortgage lender’s 91,000 crore dues, including 43,000 crore in the initial few years.

20 May 2021, 10:13:11 AM IST

Indian rupee opens flat against the US dollar at 73.15

20 May 2021, 10:04:19 AM IST

BSE Smallcap in the green

BSE
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BSE
20 May 2021, 09:55:36 AM IST

Covid update: Fatalities decline significantly but new cases over 2.76 lakh

On Thursday, 2,76,070 more people tested covid positive, according to data released by the Union health ministry. The number stood at 2,67,334 on Wednesday morning. The cumulative tally in the country has reached 2,57,72,400.

The death toll saw a significant decline on Thursday after going over 4,500 on Wednesday. As many as 3,874 more people succumbed to the disease to the disease in the last 24 hours, taking the total toll to 2,87,122.

20 May 2021, 09:44:21 AM IST

JK Tyre & Industries up 3%

The country’s largest tyre manufacturers reported a consolidated net profit of 196.02 crore for the quarter ended 31 March, compared to a 46.85 crore loss in the year ago period, as vehicle production returned to pre-covid levels in India and foreign markets. The bottom line was hurt by a jump in input costs.

20 May 2021, 09:32:23 AM IST

Nifty Metal slips 3%

Metals
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Metals
20 May 2021, 09:28:47 AM IST

Nifty at open: Titan, ICICI Bank top charts; Hindalco, Tata Steel down

Nifty check
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Nifty check
20 May 2021, 09:25:41 AM IST

Sensex at open: Titan, L&T top gainers; ONGC, Sun Pharma lag

Sensex
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Sensex
20 May 2021, 09:19:05 AM IST

Markets open flat, but in the green

20 May 2021, 09:10:38 AM IST

RBI governor tells state-led banks to implement covid relief steps

RBI governor Shaktikanta Das on Wednesday told heads of public sector banks to ensure that its recent measures to reduce the pain from the covid-19 pandemic are implemented in the right earnest.

Das met chief executives of state-owned lenders through video conference, and the meeting was also attended by deputy governors M.K. Jain, M. Rajeswar Rao, Michael D. Patra and T. Rabi Sankar, the central bank said in a statement.

20 May 2021, 09:03:24 AM IST

Sensex, Nifty mixed at pre-open

20 May 2021, 08:49:21 AM IST

Govt hikes subsidy on DAP fertiliser by 140%

The Centre on Wednesday hiked the subsidy on DAP fertiliser by 140%, costing the exchequer an additional 14,775 crore, in a bid to ensure the soil nutrient is available to farmers at old rates despite a sharp rise in global prices.

The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi.

20 May 2021, 08:38:42 AM IST

Stocks to Watch: Axis Bank, JK Tyre, Coforge, HPCL

Besides Axis Bank, JK Tyre, Coforge and Infosys that will be in focus on Thursday, HPCL, Bosch, JK Lakshmi Cement, Torrent Power and Zee Entertainment are other key companies that will be in news as they announce their March quarter results today.

20 May 2021, 08:29:39 AM IST

Markets are likely to consolidate

Indian stock markets are likely to consolidate on Thursday, while trends in SGX Nifty suggest a flat opening for domestic benchmark indices. On Wednesday, the BSE Sensex slipped 290.69 points or 0.58%, closing at 49,902.64. The Nifty was was down 77.95 points or 0.52% at 15,030.15.

20 May 2021, 08:16:35 AM IST

Oil prices fall

Oil prices fell on Thursday after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging coronavirus infections in Asia and possible U.S. rate hikes.

Brent crude was down 6 cents, or 0.1%, at $66.60 a barrel, having fallen 3% on Wednesday. U.S. oil fell 7 cents, or 0.1%, to $63.29 a barrel, after a 3.3% drop in the previous session.

20 May 2021, 08:13:22 AM IST

Asia markets weak

Asian markets struggled for traction on Thursday after a jittery session on Wall Street amid a hint of tapering talk from the U.S. Federal Reserve.

Benchmarks in South Korea and Japan were either side of flat in morning trade and Hong Kong's Hang Seng fell about 0.8% to pull MSCI's broadest index of Asia-Pacific shares outside Japan down by 0.2%.

20 May 2021, 07:33:50 AM IST

US markets end lower on Wednesday

Wall Street's main indexes remained lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank's goals, with some eyeing a future discussion of tapering its bond buying program.

The S&P 500 lost 12.15 points to 4,115.68. The Dow Jones Industrial Average fell 164.62 points, or 0.5%. The Nasdaq fared better than the rest of the market, shedding only 3.90 points, or less than 0.1%.

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