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Home / Markets / Stock Markets /  Sensex slips 456 points; Nifty ends below 18,300; smallcaps, midcaps slump

Sensex slips 456 points; Nifty ends below 18,300; smallcaps, midcaps slump

Stock Market Closing: Indices closed lower for the second day in a row. Photo: Reuters Premium
Stock Market Closing: Indices closed lower for the second day in a row. Photo: Reuters 

Share Market Closing: Key indices ended sharply lower in a choppy session on Wednesday. Sensex ended at 61,260 points while Nifty closed below 18,300. Midcap and small-cap stocks slumped on heavy selling pressure

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Indian stock markets ended deep in the red on Wednesday amid volatility. Sensex closed at 61,259.96, down 456 points, while Nifty settled below 18,300, dragged mostly by FMCG, metal, and realty stocks. Markets in Asia and Europe, however, gained on rising optimism about the global economy and corporate earnings. 

20 Oct 2021, 03:31:57 PM IST

Sensex, Nifty end lower for second day in a row

Key share indices ended lower for the second day in a row on Wednesday amid broad-based selling in the market. Sensex ended at 61,259.96, down 456 points, while Nifty settled at 8,266.60, down 0.83%. Broader indices witnessed heavy selling pressure with BSE Midcap ending 1.9% lower, and smallcap indices slipping 2.3%. The fear index, India VIX, rose 5.3%. Most sectoral indices closed in the red.

 

Sensex at close
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Sensex at close
20 Oct 2021, 03:27:23 PM IST

 MindTree selected as strategic partner by Western Asset to drive enterprise innovation and transform IT svcs

20 Oct 2021, 03:23:25 PM IST

Yash Gupta, equity research analyst, Angel One

"We have seen a sharp selloff in the broader market in the last two days, with midcaps and small caps falling steeply. Stocks like IRCTC, IEX, Tata Motors, Tata Power, Deepak Nitrite corrected sharply in the last two days. Nifty Smallcap 100 and Nifty Midcap 100 fell as much as 5% and several stocks were down more than 10%.

We suggest retail investors be cautious and avoid buying on dips kind of strategies, as we are seeing selling pressure in the broader market." 

20 Oct 2021, 03:14:57 PM IST

Vodafone Idea opts for 4-year spectrum payment moratorium; shares up 6%

20 Oct 2021, 03:07:21 PM IST

Jio gains 6.49 lakh mobile users in August; Airtel adds 1.38 lakh

India's largest telecom operator Reliance Jio gained 6.49 lakh mobile users in August leading the subscriber addition tally. Bharti Airtel added 1.38 lakh users, according to the TRAI data released on Wednesday. Vodafone Idea lost 8.33 lakh subscribers during August, although its losses were less than July.

20 Oct 2021, 02:59:20 PM IST

Nifty Metal index down 2.4%

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20 Oct 2021, 02:48:12 PM IST

BSE Smalcap sinks 3%

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20 Oct 2021, 02:41:50 PM IST

BSE Midcap slumps 2.5%; IRCTC plunges over 17%

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20 Oct 2021, 02:36:06 PM IST

Jubilant Foodworks Q2 profit surges 58%

Jubilant Foodworks Ltd on Wednesday reported 58.11% jump in consolidated net profit to 119.82 crore for the quarter ended September. Revenue from operations rose to 1,116.19 crore as compared to 816.33 crore a year ago.

20 Oct 2021, 02:27:12 PM IST

Sensex extends loss

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20 Oct 2021, 02:18:47 PM IST

Broad markets weaken further; volatility index up 7%

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20 Oct 2021, 02:08:09 PM IST

PM: Preventive vigilance can be strengthened through technology and experience

Prime Minister Narendra Modi on Wednesday said that preventive vigilance can be achieved with alertness and strengthened through technology and experience.

Speaking at the joint conference of Central Vigilance Commission (CVC) and Central Bureau of Investigation (CBI), PM Modi said along with technology and alertness-simplicity, clarity, transparency in the processes will go a long way for preventive vigilance.(Read more)

20 Oct 2021, 01:57:23 PM IST

AstraZeneca sets up clinical data insights division in India

Drug firm AstraZeneca on Wednesday said it has launched a clinical data and insights division in India for data-related management of its clinical trials. The Bengaluru-based clinical data and insights division is a critical advancement to support a growing global portfolio and build on internal data expertise, the drug firm said.

20 Oct 2021, 01:47:25 PM IST

Asia, Europe markets firm

Shares from Asia to Europe gained on Wednesday on rising optimism about the global economy and corporate earnings.

The regional Euro STOXX 600 traded up 0.1% after opening in negative territory. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, led by 1.1% gains in Hong Kong.

20 Oct 2021, 01:38:10 PM IST

Reliance, HDFC twins drag Sensex below 61,400

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Index contributors
20 Oct 2021, 01:27:31 PM IST

Tata Communications down 2% ahead of results

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20 Oct 2021, 01:18:55 PM IST

Oil prices drop

Oil prices fell on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to ease a power shortage.

Brent crude futures dropped 64 cents, or 0.8%, to $84.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures for November, which expires on Wednesday, fell 56 cents to $82.40 a barrel.

20 Oct 2021, 01:10:25 PM IST

Nifty Auto down 1%; Tata Motors lone gainer in the pack

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20 Oct 2021, 01:01:51 PM IST

Sneha Poddar, AVP Research, Broking & Distribution, Motilal Oswal Financial Services, on midcaps and smallcaps

“Post the sharp rally in midcaps and smallcaps, profit booking is being witnessed across them as the valuations for many stocks have touched unrealistic levels. However, if we remove some of the very expensive names, then this correction does offer bottom-up opportunities, given the more relaxations being offered and pickup in economic activities, buoyant festive mood and an improved demand backdrop. The balance sheets and cash flows continue to improve as corporates tightened costs and deleverage. Going ahead, Q2FY22 earnings delivery vs earnings expectation would provide further direction to the market." 

20 Oct 2021, 12:52:47 PM IST

Jubilant Foodworks down 2.6% ahead of earnings

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20 Oct 2021, 12:46:38 PM IST

Axis Securities downgrades Avenue Supermarts (DMART) to Sell

DMART for Q2FY22 reported consolidated revenue of 7,789 cr (shade below our estimate) as compared to Rs. 5,306 cr in Q2FY21, higher by 46.8% YoY. The growth was on the back of strong demand recovery aided by unlocking of the economy as restrictions eased following the second wave led lockdown. EBITDA Margin came in at 8.6%, lower than our estimates but higher by 238bps YoY, led by lower base and agile OPEX management. EBITDA stood at 669 cr, up 103% YoY on a lower base which was 4.5% lower than our estimates. Other income was down by 47% at 28cr and PAT came in at 418cr lower than our estimates but higher 111% YoY. We expect the company to continue its healthy growth trajectory going forward on the back of normalization of operational hours, accelerated vaccination and opening up of economy aiding improved people’s mobility. While, the growth story remains intact, the recent sharp run up in the stock price has led us to downgrade our rating to SELL from HOLD.

20 Oct 2021, 12:38:12 PM IST

BSE Energy index down 1%

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20 Oct 2021, 12:28:31 PM IST

IPCA Laboratories will consider interim dividend and sub-division of shares in the 1:2 ratio on 13 Nov

20 Oct 2021, 12:19:13 PM IST

BSE FMCG down 1.6%

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20 Oct 2021, 12:09:54 PM IST

Axis Securities recommends ‘buy’ on ICICI Securities

ICICI Securities Ltd. (ISEC) reported a strong set of numbers that were above our estimates across all parameters. The highlight of the quarter was the continued momentum on customer sourcing as ISEC added ~583K customers during the quarter.

Revenues stood at 856 Cr (+26% YoY, +15% QoQ) aided by strong growth in the distribution income and interest income, though broking revenues remained flat. Cost savings and ‘variable’-ization efforts continued, which enabled ISEC to maintain its C-I Ratio at 45% (flat YoY/QoQ). The company intends to continue controlling its fixed expenses even as it continues to spend on marketing and technology. ISEC aims to reduce its C-I Ratio to <40% over the medium term. The company's EBITDA stood at 544 Cr (+31% YoY, +16% QoQ) against our expectation of 488 Cr, while EBITDA Margin improved to 63.5% (our expectation of 62.4%) from 62.9% in Q1FY22 and 60.9% in Q2FY21. PAT stood at 351 Cr (+26% YoY, 13% QoQ) vs our expectation of 318 Cr.

20 Oct 2021, 12:00:39 PM IST

Sensex at noon: Down 210 points

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20 Oct 2021, 11:55:10 AM IST

B L Kashyap and Sons gets new project worth ₹621.5 mln, shares up 2.3%

20 Oct 2021, 11:52:45 AM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel One 

Gold

On Tuesday, Spot gold ended higher by 0.24 percent to close at $1768.9 per ounce. The bullion metal gained strength in yesterday’s session as increasing inflation concerns and a weaker Dollar boosted appeal for the safe haven Gold.

Increasing bets over the inflation not being a transitory element has been supportive for Gold as it is widely considered as a hedge against inflation and currency debasement.

Also, weaker than expected industrial activities figures posted by US following the disrupted global supply chain hinted towards weaker than expected recovery in the world’s largest economy.

However, expectation that the US Federal Reserve would begin with the tapering of the expansionary policy following the recent increase in US consumer prices limited the gains for Gold. commencement of withdrawal of the economic support by next month.

Revival in the US Treasury yield is expected to weigh on the non-interest bearing Gold.

Crude Oil

On Tuesday, WTI Crude scaled higher by 0.66 percent to close at $83 per barrel hovering near record high levels as increasing shortage concerns across the globe continued to support market sentiments.

Moreover, surge in coal and natural gas prices coupled with falling temperature in China is expected to keep the Oil market under supplied and prices elevated in the days ahead.

However, weaker than expected US industrial activity figures and slowdown in China’s economy is expected to weigh on Crude prices. Uncertainties arising from major Oil consuming nations following the disrupted supply and virus outbreaks might put a pause on Oil’ rally.

Also, increasing inflation woes reflecting the soaring energy prices raised worries of slowdown in global growth and hampered sentiments.

China aiming to cool down coal prices in an attempt to ease the power shortage concerns might weigh on Oil prices in todays session.

Official US Crude inventories data due later today.

Base Metals

On Tuesday, Industrial metals on the LME & MCX eased after the recent rally as investors booked profits. Also, slow growth in China’s economy following the disrupted supply and increase energy prices further [pressured market sentiments.

While the power crisis has triggered potential shortage threats, investors are expected to remain cautious as it might also impact industrial metals demand.

Zinc prices plunged after a power rally last week as inventories on the LME monitored warehouse ticked higher.

Base metal prices surged across exchange in the week gone by as the energy crisis witnessed in major economies ignited potential shortage concerns. Increasing power consumption norms in major producer China and soaring electricity cost around the globe forced many smelters to cut production activities.

Copper

On Tuesday, LME Copper ended lower by 0.46 percent to close at $10149.5 per tonne. The red metal reversed some of its gains from last week following signs of slowdown in major economies clouded the outlook.

However, potential supply threats arising from major producing nation Peru as community announced to start a protest at a prime mining road used by the Las Bambas copper mine following the failed negotiations.

China vowing to ease coal pr8ices, investors booking profits, signs of slow growth in China’s economy and dismal US industrial number might weigh on Base metals prices.

20 Oct 2021, 11:42:48 AM IST

Yes Securities on ICICI Prudential Life

The sluggishness in retail protection continued on account of changes in guidelines and continued reluctance of potential customers to carry out medical testing: The company is already seeing signs of improvement in protection business on sequential basis. Within the protection basket, the company is focusing on group term life and credit life products.

The share of annuity products in new business received premium has risen to 20.1% in 1HFY22 compared with 15.2% in 1HFY21 due to a 95% YoY rise: IPRU has become one of the largest pension and annuity providers with pension fund AUM having risen 74% YoY to 97.5bn. The market share for IPRU in private sector pension fund AUM stands at 15.7%. 

IPRU continues to invest in all channels and is seeing good growth in agency, direct channel including proprietary sales and online channel: It is difficult to say when IPRU will get the next big banca partner but the company continues to add smaller corporate agents. 50 corporate agents have been added in the first 6 months of the year. We maintain ‘Buy’ rating on IPRU with a revised price target of 836: We value IPRU at 3.2x FY23 P/EV for an FY22E/23E/24E RoEV profile of 14.3/16.8/17.2%.

20 Oct 2021, 11:33:52 AM IST

Base metal prices fall as China plans to bring down coal prices

Industrial metals declined on Wednesday as China's plan to bring down coal prices eased worries about metals supply shortage and investors booked profits after recent strong gains.

Three-month copper on the London Metal Exchange fell 1.7% to $9,981 a tonne, while the most-traded November copper contract on the Shanghai Futures Exchange dropped 2.8% to 73,170 yuan ($11,451.60) a tonne.

20 Oct 2021, 11:25:33 AM IST

IEX down more than 6%

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20 Oct 2021, 11:15:38 AM IST

Deepak Fertilisers down 2.8%

 The company has passed resolutions for raising funds by issuing shares at a floor price of 422.48 each.

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20 Oct 2021, 11:06:17 AM IST

Govt plans to set up 17 more airports in UP: Jyotiraditya Scindia

Union Minister for Civil Aviation, Jyotiraditya M Scindia on Wednesday said that the government plans to set up 17 new airports in the near future. Earlier, Prime Minister Narendra Modi inaugurated the Kushinagar International Airport in Uttar Pradesh.

20 Oct 2021, 10:57:36 AM IST

Nifty PSU Bank index up 1.5%

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20 Oct 2021, 10:54:39 AM IST

Yes Securities on L&T Infotech

Overall, the performance in the quarter was well ahead of expectation. Demand environment continues to remain robust for the company. We expect it to be among the growth leader in the Tier 2 IT companies and should be able to maintain net margin of 14‐15%. Trades at PE of 35.7x on FY24E EPS. It continues to remain one of our top picks in Tier‐2 IT space. We maintain BUY on the stock with revised target price of 7,864/share

20 Oct 2021, 10:44:38 AM IST

Covid update: India adds 14,623 new cases

India added a total of 14,623 new covid-19 cases and 197 deaths in a day, the Union Ministry of Health said on Wednesday. The recovery count surged to 19,446 in the last 24 hours.

Overall, India's covid-19 caseload has increased to 3,41,08,996. And the death toll due to coronavirus infection has climbed to 4,52,651.

20 Oct 2021, 10:35:49 AM IST

Bajaj Auto down 1%

The two-wheeler major has halted production at Pantnagar, Uttarakhand due to cloudburst and floods in the state. 

20 Oct 2021, 10:33:02 AM IST

Rupee surges 26 paise to 75.09 against US dollar in early trade

20 Oct 2021, 10:25:16 AM IST

Nifty Metal down over 1%

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20 Oct 2021, 10:14:45 AM IST

Yes Securities on HUL

FMCG demand especially in rural areas has slowed down in the months of August and September and the pace of normalization of economic activity and inflation impact would be key monitorable to gauge the demand trends. We adjust our estimates lower to factor in slightly lower margins and now build in a revenue/EBITDA/PAT CAGR of 11%/13%/12% over FY21-24E. We maintain our REDUCE rating with a PT of 2,737 based on 55x FY24E.

20 Oct 2021, 10:09:40 AM IST

Nifty broad markets indices in the red

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20 Oct 2021, 09:59:52 AM IST

Gita Gopinath resigns as IMF chief economist, to go back to Harvard in January

International Monetary Fund (IMF) chief economist Gita Gopinath will be leaving the multilateral lending agency in January next year after holding the position for three years.

Gopinath, an Indian-origin economist, will return to her earlier job as a professor at Harvard University’s economics department. Gopinath was IMF’s first female chief economist and the second Indian to hold the prestigious position after Raghuram Rajan who held the post from 2003 to 2006 before he joined the finance ministry as chief economic adviser and later the governor of the Reserve Bank of India (RBI).

20 Oct 2021, 09:54:22 AM IST

ACC up 3% as better realisations, cost controls aid September quarter earnings

Cement manufacturer ACC Ltd reported decent earnings in the September quarter. A combination of favourable factors helped ACC sail beat cost pressures.

Better grey cement realisation and higher RMC (ready-mix concrete) and other operating income offset the impact of cost inflation to some extent. Although grey cement realisations declined sequentially, the fall was lesser than anticipated. (Full report)

20 Oct 2021, 09:46:12 AM IST

IRCTC extends fall from yesterday, hits 15% lower circuit

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20 Oct 2021, 09:39:20 AM IST

Nestle India up 3%

The food and beverages major reported a 5% growth in net profit at 617 crore for the September quarter as compared to 587 crore in the year-ago period.

20 Oct 2021, 09:35:46 AM IST

BSE Smallcap plunges nearly 2%

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20 Oct 2021, 09:32:28 AM IST

BSE Midcap slips 1% dragged by IRCTC

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20 Oct 2021, 09:29:06 AM IST

Nifty below 18,400

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20 Oct 2021, 09:23:49 AM IST

Sensex down 100 points

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20 Oct 2021, 09:16:41 AM IST

Sensex and Nifty open flat with a positive bias

20 Oct 2021, 09:09:58 AM IST

Sensex at pre-open

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20 Oct 2021, 09:02:54 AM IST

Sensex, Nifty flat in pre-opening trade 

20 Oct 2021, 08:50:27 AM IST

India opposes penalty for delay in WTO notifications

India has strongly opposed a proposal from developed countries for administrative actions and penalties in case of delayed submissions of notifications by member countries. It is wrong to assume wilful default on the part of members rather than acknowledging the capacity constraints and other legitimate difficulties faced by many developing countries, India said.

Developed countries, including the US, European Union, UK, Australia, and Canada, have moved a draft general council proposal on procedures to improve compliance with notification requirements under World Trade Organisation (WTO) agreements that requires a country that fails to submit notifications by the deadline to explain the delay every six months. (Read more)

20 Oct 2021, 08:40:29 AM IST

LIC likely to back Zee-Sony merger

Life Insurance Corp. of India (LIC), the largest local shareholder of Zee Entertainment Enterprises Ltd, favours the proposed merger of the broadcaster with Sony Pictures Networks India, three people familiar with the insurer’s decision said.

The insurer’s vote is crucial for the Zee-Sony merger deal because LIC owns nearly 5% of Zee. If LIC does endorse the Zee-Sony merger, it may also influence how Zee’s public shareholders vote on the proposal. (Read more)

20 Oct 2021, 08:30:56 AM IST

Stocks to Watch: Reliance, Nestle India, ACC

Besides Reliance, Nestle India, ACC, NTPC and other top companies that will be in focus today, Havells India, Tata Communications, L&T Holding Finance, Angel Broking, Just Dial, and Shoppers Stop will also be in the limelight as they release their September quarter results.

20 Oct 2021, 08:20:34 AM IST

Indian markets likely to be in a range

Indian stock markets are likely to be range-bound on Wednesday while trends in SGX Nifty suggest a soft opening for domestic benchmark indices.

On Tuesday, the BSE Sensex ended at 61,716.05, down 49.54 points or 0.08%. The Nifty was at 18,418.75, down 58.30 points or 0.32%.

20 Oct 2021, 08:09:50 AM IST

Oil prices ease

Oil prices eased slightly in Asia but held near multi-year peaks as an energy supply crunch persisted across the globe.

US crude futures traded at $82.65 per barrel, down 0.4% on the day but near Monday’s peak of $83.18, its highest level since 2014.

20 Oct 2021, 07:40:14 AM IST

Asian markets rise

Most Asian stocks climbed on Wednesday tracking US markets as a focus on corporate earnings bolstered investor sentiment. Treasury yields advanced and the dollar slipped.

Nikkei 225 index was up 0.63%, Australia’s S&P/ASX 200 Index added 0.9%, and Hang Seng Index gained 0.7%. South Korea’s Kospi index and Shanghai Composite Index fell 0.4% each.

20 Oct 2021, 07:30:44 AM IST

US indices climb overnight

US stock indices jumped on Tuesday as technology shares extended recent gains and earnings reports were upbeat. The Dow Jones Industrial Average rose 0.56%, the S&P 500 gained 0.74%, and the Nasdaq Composite added 0.71%.

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