Stock Market LIVE Updates: Traders book profits in IT and real estate stocks. FMCG, pharma stocks trade weak. Info Edge

Cabinet refuses proposal for telecom relief measures, claims Reuters report

The cabinet has not taken up the proposals for providing financial relief to the country’s debt-laden telecom sector, Reuters has reported quoting a government source.

Biocon inks patent litigation settlement pact with Celgene

Price as on 08 Sep, 2021 01:48 PM, Click on company names for their live prices.

India’s fintech market to triple to Rs 6.2 lakh cr by 2025: MoS Finance Karad

The government’s various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 6,20,700 crore in value terms by 2025, Minister of State for Finance Bhagwat K Karad said on Wednesday.

New economy firms to be India’s growth engine: HSBC

HSBC estimates that half of all foreign direct investment flows into India are now “digital,” up from 20% a decade ago.

Sensex down over 300 points; Nifty near 17,250 as traders book profits in IT stocks

India to give $3.5 billion in revised clean tech scheme for automakers: Report

India will give about $3.5 billion in incentives to auto companies over a five-year period under a revised scheme to boost the manufacturing and export of clean technology vehicles, Reuters reported.

Japan’s Nikkei ends at near 6-month high on bargain hunting for cheap stocks

Japan’s Nikkei share average ended at a near six-month high on Wednesday, as investors scooped up cheap stocks on hopes of an economic rebound, while SoftBank Group jumped after its share-swap deal with Deutsche Telekom. The Nikkei share average rose 0.89% to close at 30,181.21, its highest since March 18. The broader Topix advanced 0.79% to 2,079.61.

Maruti Suzuki reports 8% dip in production in August due to chip shortage

Asian shares fall on growth anxiety, dollar holds gains

Asian shares snapped eight successive sessions of gains on Wednesday, as fresh worries about slowing global growth prompted investors to reduce their exposure to riskier assets in a boost to safe-havens such as the US dollar. In early European trades, FTSE futures were down 0.36%, pan-region Euro Stoxx 50 futures dropped 0.09%, but U.S. stock futures, the S&P 500 e-minis, gained 0.10%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.50% having stretched its gains in the past eight sessions.

SAIL, IndusInd among 37 stocks sending out buy signals on MACD

PSU bank stocks rally ahead of Cabinet meet. Here are the top gainers

Price as on 08 Sep, 2021 11:45 AM, Click on company names for their live prices.

Fed’s Bullard says stimulus tapering should begin this year

The U.S. Federal Reserve should move forward with a plan to trim its massive pandemic stimulus programme despite a slowdown in job growth last month, St. Louis Federal Reserve Bank President James Bullard said in an interview with the Financial Times

Rupee plunges 23 paise to 73.65 against US dollar in early trade

The Indian rupee plunged 23 paise to 73.65 against the US dollar in opening trade on Wednesday, tracking a strong American currency and muted trend in domestic equities.

PLI scheme: Voltas, Blue Star among AC biggies planning to invest Rs 3,000 crore

Sansera Engineering IPO to open on Sept 14; price band fixed at Rs 734-744

IPO-bound OYO increases authorised share capital to Rs 901 cr

On the technical front, 17,450 level may act as immediate resistance for Nifty50 followed by 17,500, while 17,100 remains a crucial support for Nifty50

– Mohit Nigam, Head – PMS, Hem Securities

Airtel shares up 1%

The Department of Telecommunications (DoT) has proposed a four-year moratorium on adjusted gross revenue (AGR) and spectrum payments apart from a reduction in spectrum usage charge (SUC) prospectively, among measures to improve the health of the debt-laden sector and retain a three-private player market.

Sensex turns flat amid weakness in IT stocks

Top gainers and losers in banking pack

Price as on 08 Sep, 2021 09:25 AM, Click on company names for their live prices.

Banks, financial services and metals among top gainers. IT stocks trade weak

Airtel, IndusInd Bank among top gainers in Sensex pack

Opening Bell: Sensex sheds 60 points, Nifty below 17,350; Voda Idea climbs 5%, ICRA 4%

Pre-open session: Sensex rises 80 points, Nifty nears 17,400

SGX Nifty signals a positive start

Nifty futures on Singapore Exchange traded 47 points, or 0.27 per cent, higher at 17,426.50, signaling that Dalal Street was headed for a positive start on Wednesday.

Tech View: Nifty bulls indecisive; consolidation imminent

Nifty50 on Tuesday snapped a three-day winning run and formed an indecisive candle on the daily scale, the second time in a row. The index negated the higher low formations that it was making for the last six sessions. The advance-decline ratio also was skewed in favour of the bears, suggesting a loss of momentum.

Hong Kong stocks rise at open

Hong Kong stocks opened slightly higher Wednesday morning, though gains were tempered by a weak lead from Wall Street and profit-taking following a recent rally. The Hang Seng Index ticked up 0.16 percent, or 42.48 points, to 26,396.11. The Shanghai Composite dipped 0.09 percent, or 3.18 points, to 3,673.40, while the Shenzhen Composite Index on China’s second exchange was flat, inching up 0.63 points to 2,491.27.

Japan stocks open lower

Tokyo stocks opened lower on Wednesday as investors sought to lock in profits after recent rallies. The benchmark Nikkei 225 index was down 0.34 percent or 100.87 points at 29,815.27 in early trade, while the broader Topix index edged down 0.20 percent or 4.11 points to 2,059.27.

US stocks closed mostly lower

Stocks indexes on Wall Street closed mostly lower Tuesday, though solid gains by Apple, Facebook and other tech heavyweights helped nudged the Nasdaq to another all-time high. The S&P 500 fell 15.40 points to 4,520.03. The Dow Jones Industrial Average dropped 269.09 points, or 0.8%, to 35,100, while the technology-heavy Nasdaq composite rose 10.81 points, or 0.1%, to 15,374.33 it’s fourth consecutive record high.

Rupee slides 32 paise to 1-week low on dollar buying

The rupee plunged by 32 paise to close at a more than one-week low of 73.42 against the US currency on Tuesday due to dollar buying by corporates and importers and the greenback’s gain in overseas markets. The rupee mirrored losses in most Asian and emerging market currencies while forex outflows also weighed on the unit, analysts said.

Sensex, Nifty on Tuesday

Snapping its three-day rising streak, the 30-share BSE benchmark settled 17.43 points or 0.03 per cent lower at 58,279.48. Intra-day, it touched a fresh lifetime high of 58,553.07. On similar lines, the broader NSE Nifty fell 15.70 points or 0.09 per cent to 17,362.10. It scaled an all-time peak of 17,436.50 during the session.

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