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| 22 October, 2020, 03:04 AM IST | E-Paper
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Economic Times | 25 Sep, 2020 | 09.56AM IST

Traders' Diary: Nifty upside capped around 11,111-11,250 range

IT, RIL, banks lead the market fall as 29 of 30 Sensex stocks end the day in the red

!1 New UpdateClick here for latest updates
09:25 PM

Ahead of Market: 12 things that will decide stock action on Friday

Nagaraj Shetti of HDFC Securities said the short term trend of Nifty has turned sharply down and there is a possibility of more weakness in the short run.
Ahead of Market: 12 things that will decide stock action on Friday
09:19 PM

Equity investors should brace for more pain: D-Street veterans

Analysts believe there is more pain in the offing, and investors should not expect any respite just as yet.
08:59 PM

IDFC First looks to lower ownership as Suryoday readies IPO

The proposed IPO would consist of a primary issue and an offer for sale (OFS), people familiar with the matter said. Some of the existing investors would take the OFS route for partly offloading their stakes.
IDFC First looks to lower ownership as Suryoday readies IPO
08:10 PM

Will Robinhood investors give in to market fall? What analysts say

Analysts say Nifty at 10,800 is a good support level, which could lead to recovery in the market. But if the index sees further slide, it would surely give jitters to small investors.
Will Robinhood investors give in to market fall? What analysts say
07:19 PM

Dow Jones opens lower as jobless claims rise

The Dow Jones Industrial Average fell 47.04 points, or 0.18%, at the open to 26,716.09. The S&P 500 opened lower by 10.78 points, or 0.33%, at 3,226.14, while the Nasdaq Composite dropped 81.97 points, or 0.77%, to 10,551.02 at the opening bell.
Dow Jones opens lower as jobless claims rise
06:56 PM

Market Movers: IT, banks in free fall, Route Mobile bucks trend; 229 stocks turn oversold

Route Mobile, which made its debut on Monday, jumped another 10 per cent to Rs 908.10, adding to Wednesday’s 20 per cent gains. The stock is up 159.5 per cent from its issue price of Rs 350.
06:13 PM

Tech View: Nifty looks headed for 10,600; 200-DMA may offer support

Analysts said a retest of the 11,600 level is likely if the index falls below its 200-day moving average at 10,760. A few others do not rule out Nifty50 falling to 10,175 level, which at Thursday’s close would suggest a further 6 per cent potential downside.
05:56 PM

F&O: Market under bear grip; VIX spike shows volatility to stay

As long as Nifty sustains below 11,000 level, any small bounce could be sold for further weakness towards 10,650-10,600 zone, while on the upside, the medium-term hurdle has shifted lower to the 11,111-11,250 zone.
F&O: Market under bear grip; VIX spike shows volatility to stay
05:19 PM

Nifty could fall to 10,500 or 10,400 level: Shrikant Chouhan, Kotak Securities

On the day of the monthly and quarterly end, we saw a fatal decline in the market. It is a technical sell-off that has broken all important levels, however, the Nifty is currently closed between the 200-day SMA and the 200-day EMA support, which are at 10,839 and 10,761, respectively. The market breadth is extremely weak and extremely oversold. The Nifty has witnessed thrice a time such type of weakness in the last five days.Usually such type of formation represents extremity of Fear in the market, which is good for confident buy cautious investors. On a weekly basis, the Nifty fallen to 23.60 percent Fibonacci retracement level that acts as major support if the previous rally is beyond expectations. In the past, we recorded such type of formation at the end of January 2020 and later on we saw massive bounce back on the upside. Technically, we should be buyers in the market with a final stop loss at 10,700 because short-term markets are sold more deeply. Depending on the close, below 10,700 level, Nifty could fall to 10,500 or 10,400 level. With a medium term view (one or two weeks), there should be a strategy to buy selectively.
05:05 PM

Jio's new post paid plans won't start 'tariff war': Goldman

Half of Bharti’s user base comes from the corporate segment where tariffs are offered at a negotiated rate, and OTT subscriptions are not likely a differentiating factor, it said.
Jio's new post paid plans won't start 'tariff war': Goldman
04:34 PM

Investors must accumulate fundamentally sound stocks on dips: Ajit Mishra, Religare Broking

The looming uncertainty over the stimulus package in the US combined with the issue of rising COVID cases worldwide has raised concerns over the economic recovery. And, it may deteriorate further if the virus situation results in partial lockdown. Amid all, the Nifty is down by nearly 6% this week so far and tested the crucial level of 10,800 too however there’s no sign of respite from the banking index. In such a situation, it would be prudent for traders to wait for clarity before jumping into a trade while investors should keep their shopping list handy and continue to accumulate fundamental sound stocks on dips.
04:29 PM

Nifty's support level of 10,900-10,950 was ignored during today's session. We have also pierced the support at 10,882 level, which was made on August 3, 2020. This opens a new target of 10,750. Any bounce can be utilised to short Nifty for this target.

- Manish Hathiramani, Deen Dayal Investments

03:59 PM

A market correction of 5-10% is okay: BOI AXA

Somewhere there is a disconnect and maybe the market is talking about inflation but I am not convinced right now and I will be more worried if I see the bonds rallying big time, says Alok Singh, Head of Investment, BOI AXA.
A market correction of 5-10% is okay: BOI AXA
03:45 PM

This is how the 30-pack Sensex traded in today's session. It touched a high of 37,304.26 and a low of 36,495.98 to finally settle at 36,553.60

This is how the 30-pack Sensex traded in today's session. It touched a high of 37,304.26 and a low of 36,495.98 to finally settle at 36,553.60
03:45 PM

CLOSING BELL: Sensex nosedives 1,115 points as IT, banks bleed; Nifty ends September F&O series at 10,806; IndusInd Bank plunges 7%, M&M 6%

  • IT, RIL, banks lead the market fall
  • 29 of 30 Sensex stocks end the day in the red
  • Index contributors: Infosys, TCS, RIL, ICICI Bank, HDFC Bank
  • Top Index gainers: HUL (0.38%)
  • Top Index losers: IndusInd Bank (7.10%), Bajaj Finance (6.63%), TechM (5.65%)
  • All BSE indices end the day in the red
  • S&P BSE Information Technology biggest sectoral loser, down 4.45%
  • Volume toppers: RIL, Airtel, Bajaj Finance, ITC, TCS
CLOSING BELL: Sensex nosedives 1,115 points as IT, banks bleed; Nifty ends September F&O series at 10,806; IndusInd Bank plunges 7%, M&M 6%
03:36 PM

Markets spooked

Some traders are worried the government might consider bringing in fresh restrictions and hurt businesses, following a report here where a senior government official said India's finance ministry is reassessing its earlier optimism about a V-shaped economic recovery.
03:33 PM

Expectations of domestic recovery and growth has reduced due to the fear of restrictions coming back and increasing virus cases

- Vinod Nair, head of research, Geojit Financial Services Ltd.

03:15 PM

Route Mobile is up more than 12% amid major market crash. The stock had risen 20% on Wednesday

03:00 PM

Here are the top 10 stocks leading the market fall

Here are the top 10 stocks leading the market fall
02:19 PM

India stock traders should expect lower returns: Quantum Advisors

India’s $2 trillion stock market has rebounded more than 40% from a March bottom, joining a global rally in defiance of a bleak economic outlook.
India stock traders should expect lower returns: Quantum Advisors
02:06 PM

S&P BSE POWER down 1.3%. Here are the top index losers

Price as on 24 Sep, 2020 02:06 PM, Click on company names for their live prices.
01:48 PM

Global brokerages see 66% upside in Bharti Airtel

Shares of telecom major Bharti Airtel has corrected over 23 per cent in September so far due to concerns over delay in mobile tariff hike. The launch of postpaid plans by Reliance Jio this week further weighed on sentiments. However, global brokerages Credit Suisse and Macquarie continued to retain their bullish view on Airtel with a price target of Rs 700, indicating an upside of 66 per cent from the current market price.
01:28 PM

Mazagon Dock IPO to open on September 29; price band fixed

  • Mazagon Dock Shipbuilders' initial public offering (IPO) will open for subscription on September 29 and close on October 1.

  • The price band has been fixed at Rs 135-145 per equity share.

  • The company will offer up to 3,05,99,017 shares through an offer for sale which includes a reservation of 3,45,517 shares for eligible employees.
Mazagon Dock IPO to open on September 29; price band fixed
01:16 PM

More correction likely in market: Abhimanyu Sofat, IIFL Securities

It is possible that we may see more correction. Scotland and UK have said they are contemplating a lockdown. Fears that more economies may close down is creating more nervousness in the market. The revelations on global bank’s transactions also weighed heavily. All this is collective bothering the market, which is at is on the lookout for reasons to correct. Market had already raced ahead of its valuations.
01:05 PM

BSE IT index tanks 3%; 63 Moons worst performer

BSE IT index tanks 3%; 63 Moons worst performer
12:22 PM

BSE FMCG least hit by market meltdown; here are the top gainers from the index

BSE FMCG least hit by market meltdown; here are the top gainers from the index
11:54 AM

UTI AMC IPO to open on Sept 29, price band fixed

UTI Asset Management Company (AMC) on Thursday said its initial public offering (IPO) will open for subscription on September 29, and the price band for the same has been fixed at Rs 552-554 per equity share. The issue will close on October 1. The company will offer up to 3,89,87,081 shares through an offer for sale which includes a reservation of up to 2 lakh shares for eligible employees.
UTI AMC IPO to open on Sept 29, price band fixed
11:47 AM

GAIL cuts gas supplies to clients after fire at ONGC plant

Indian gas transporter GAIL (India) Ltd has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an Oil and Natural Gas Corp plant, a company source said. GAIL supplies about 60 million standard cubic meters of gas through its northwestern pipeline grid to customers in the states of Gujarat, Uttar Pradesh, Madhya Pradesh, Rajasthan and Goa.
11:24 AM

We are bullish on domestic manufacturing, digital and companies with strong management that are a must for the core economy

- Krishna Sanghavi, Mahindra Manulife Asset Management

11:22 AM

Advance-decline ratio on BSE at 1:5

Advance-decline ratio on BSE at 1:5
10:47 AM

Zydus Cadila gets tentative USFDA nod to market anti-cancer drug

Drug firm Zydus Cadila on Thursday said it has received tentative approval from the US health regulator to market anti-cancer drug Palbociclib Capsules. Zydus Cadila has received tentative approval from the US Food and Drug Administration (USFDA) to market Palbociclib Capsules in the strengths of 75 mg, 100 mg, and 125 mg, Zydus Cadila, part of the Cadila Healthcare group, said in a regulatory filing.
10:36 AM

The Nifty index continues to remain weak and any rally up can be used to short this market. 10,900-10,950 is a support range for the market so traders can book profits at the current juncture and use any opportunity to short the October series futures contract at higher levels for a target of Rs 10,750. The resistance on the upside is at 11,300

- Manish Hathiramani, Independent technical analyst

10:29 AM

Realty stocks in deep red, fall up to 18%; IB, Suntech Realty top losers

Price as on 24 Sep, 2020 10:29 AM, Click on company names for their live prices.
10:11 AM

Rupee falls to lowest level against the US dollar since Aug 28

10:10 AM

Top Sensex drags at this hour: Infosys, RIL, ICICI Bank & TCS

Top Sensex drags at this hour: Infosys, RIL, ICICI Bank & TCS
09:57 AM

Airline stocks fall up to 10%; Spicejet top loser

Price as on 24 Sep, 2020 09:57 AM, Click on company names for their live prices.
09:42 AM

Gold prices slip, near Rs 49,000 mark

  • Gold and silver slid further in Thursday's early trade following the trend in the international market as the metals broke string support levels amid strengthening US dollar.

  • Gold futures on MCX were down 0.34 per cent or Rs 170 at Rs 49,338 per 10 grams. Silver futures plunged 2.92 per cent or Rs 1,709 to Rs 56,779 per kg.
Gold prices slip, near Rs 49,000 mark
09:24 AM

Voda Idea, YES Bank, Airtel among most active stocks on NSE

Price as on 24 Sep, 2020 09:24 AM, Click on company names for their live prices.
09:22 AM

OPENING BELL: Sensex tanks 500 points, Nifty50 slips below 11,000; Voda Idea falls 7%, Adani Green 5%

  • Nestle only Sensex stock in green
  • Airtel drops 2% to emerge as worst loser
  • RIL, IT and lenders worst drags on Sensex
OPENING BELL: Sensex tanks 500 points, Nifty50 slips below 11,000; Voda Idea falls 7%, Adani Green 5%
09:10 AM

Investment advisor norms from Sept 30

Sebi said on Wednesday the guidelines for investment advisors will come into force from September 30. According to the rules, a new client will be eligible to avail either advisory or distribution services within the group or family of the investment advisor and this option has to be made available at the time of onboarding. Existing clients will have to choose between distribution or advisory services, the regulator said.
09:09 AM

RBI has no details of loan writeoffs

RBI said it has no information about loans of the top 100 defaulters and wilful defaulters that banks had written off, just over four months after it had put the total write-off of the largest 50 wilful defaulters at Rs 68,600 crore. “The information sought is not available with us,” the central bank said in a recent response to an RTI petition by a Kolkata-based activist Biswanath Goswami, who had sought details on the loans that had been written off.
09:09 AM

TCS bears brunt of Mistry exit from Tata Sons

TCS shares bore the brunt of the uncertainty over the outcome of the conflict between Tata Group and its biggest minority shareholder Shapoorji Pallonji Group. With the Pallonji Mistry family offering to sell its stake in Tata Sons, a section of the market is concerned that the Tata Group might sell a portion of their stake in TCS, India’s second-most valued company and the conglomerate’s cash cow, to raise money to buy them out. TCS shares ended 2.2% down at Rs 2,467 on BSE on Wednesday. SP Group holds 18.4% in unlisted Tata Sons and could demand Rs 1.78 lakh crore for the stake.
09:09 AM

RBI says CPI will remain money policy anchor

A Reserve Bank of India working paper said that the consumer price index (CPI) should continue as the anchor for the monetary policy and interest rate decisions despite the fact that food accounts for nearly half of the weight in CPI in India. Omission of food from CPI would create the risk of under-prediction of inflation, the paper argued.
09:08 AM

Baring accepts higher Hexaware delisting price

Hexaware Technologies will be the first to successfully delist from Indian bourses in two years after a holding company for Baring Private Equity Asia on Wednesday accepted the discovered price of Rs 475 a share against Rs 285 offered initially to minority investors. Hexaware’s public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs 475 per share.
09:08 AM

IPO rush on even in a weak market

The initial public offerings of Chemcon Speciality Chemicals and CAMS closed on Wednesday with strong response from investors even as the stock market weakness extended for the third straight day. Bids for Chemcon’s issue were 149 times the shares on offer, making it one of the most subscribed IPOs in last five years. The Rs 2,242 crore IPO of CAMS was subscribed 46.9 times.
09:07 AM

Sebi eases right issue rules

Sebi has changed the minimum subscription requirement in rights issues, a move aimed at making fundraising easier for companies. The regulator on Wednesday said the mandatory 90% minimum subscription would not be applicable to those issuers where object of the issue involves financing other than financing of capex for a project, provided that the promoters and promoter group of the issuer undertake to subscribe fully to their portion of rights entitlement.
09:02 AM

Pre-open session: Sensex drops 250 points, Nifty at 11,162

07:14 AM

SGX Nifty signals negative start

Nifty futures on the Singapore Exchange traded 176.50 points, or 1.57 per cent lower at 11,050, in signs that Dalal Street was headed for a gap-down start on Thursday.
07:13 AM

Tech View: Strong Nifty rebound unlikely

Nifty50 on Wednesday declined for the fifth trading session and formed a bearish candle with a long wick, similar to the one made in the previous session. Nifty looks oversold, but analysts are ruling out any strong rebound. “If we overlay Bollinger Bands on Nifty50, the index is two deviations away from the mean. This suggests the market is oversold,” said independent analyst Manish Shah.
07:11 AM

Asian stocks open lower as faith in global recovery slips

Asian stocks opened lower on Thursday, tracking a sharply lower Wall Street session amid fresh concerns that the global economic recovery is running out of steam. U.S. stocks fell on Wednesday after data showed business activity slowed in September, with gains at factories more than offset by a retreat at services industries. In Asia, E-mini futures for the S&P 500 fell 0.11%, Australia's S&P/ASX 200 lost 1.6% and Japan's Nikkei 225 declined 0.56%. Hong Kong's Hang Seng index futures dropped 0.92%.
07:10 AM

US stocks resume sell-off on weaker data, dim outlook

US stocks saw the return of heavy sell-off amid weakening of macroeconomic indicators and overshadowed recovery outlook.On Wednesday, the Dow Jones Industrial Average lost 525.05 points, or 1.92 per cent, to 26,763.13. The S&P 500 dropped 78.65 points, or 2.37 per cent, to 3,236.92. The Nasdaq Composite Index shed 330.65 points, or 3.02 per cent, to 10,632.99.
07:09 AM

Rupee closes almost flat at 75.57 amid strong dollar

The rupee appreciated by one paisa to close at 73.57 against the US dollar on Wednesday as investors turned cautious amid weak domestic equities. At the interbank forex market, the rupee opened weak at 73.59 against the greenback and moved in a close range in the day trade. It finally settled 1 paisa higher at 73.57 against the US currency.
07:08 AM

Sensex, Nifty on Wednesday

Extending its losses for the fifth straight session, equity benchmark Sensex ended 66 points lower on Wednesday, tracking weakness in Bharti Airtel, TCS and Bajaj Finance despite largely positive cues from global markets. After opening on a positive note, the 30-share BSE index pared all intra-day gains to settle 65.66 points or 0.17 per cent down at 37,668.42. Similarly, the NSE Nifty fell 21.80 points or 0.20 per cent to close at 11,131.85.
07:07 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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