Armed with all the ammunition they needed, bears battered benchmark indices on Friday, following a global equity sell-off. Metals were among the most sold stocks while FMCG tried to provide some support. It was apparent that the market had gone defensive as names like HUL and Asian Paints were in heavy demand. Some IT stocks also generated investor interest. The 30-share pack Sensex declined 300.17 points or 0.54 per cent to close at 55,329.32. Overall, investors lost Rs 3.15 lakh crore of their equity wealth as the total market cap of BSE-listed companies slid to Rs 137.70 lakh crore.
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Wall Street edges higher at open on tech boost
The Dow Jones Industrial Average rose 23.84 points, or 0.07 per cent, at the open to 34,917.96. The S&P 500 opened higher by 4.76 points, or 0.11 per cent, at 4,410.56, while the Nasdaq Composite gained 29.74 points, or 0.20 per cent, to 14,571.53 at the opening bell.
RBI MPC member says easy money today can lead to higher rates tomorrow
Varma argued that the rate-setting panel was at risk of pushing risk premia higher and thereby long-term rates by focusing too much energy in keeping short-term rates low whereas keeping long-term rates low should be the priority to enable investment-led growth.
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IFGL lines up Rs 70 crore capex by FY 23
IFGL Refractories Limited will invest Rs 70 crore by FY23 in three manufacturing plants to enhance capacity and productivity, an official said.
Many Indian cos slip in global valuation ranking, highest ranked RIL dips 3 places
In all, 12 Indian companies made it to the list of the top-500 valued companies as against 11 in the year-ago period. Mukesh Ambani-led Reliance Industries’ valuation increased 11 per cent to USD 188 billion but ranking slipped by three places to 57 in the rankings which use the valuation on July 15 as the cut-off.
Rupee drops 15 paise to close at 74.39 against US dollar
At the interbank foreign exchange market, the domestic currency opened lower at 74.38 against the American currency and finally settled at 74.39. During the session, the local unit touched an intra-day high of 74.38 and a low of 74.47 against the US currency.
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Broader market traded under selling pressure. On BSE, losers outnumbered gainers by a large margin
This is how the 30-pack Sensex moved in today’s session. It touched a high of 55,543.16 and a low of 55,013.98 to finally settle at 55,329.32
CLOSING BELL: Tata Steel, banks drag Sensex 300 pts lower; Nifty at 16,450; Vedanta dives 10%, HUL surges 5%
- RIL and private banks lead the market fall
- 23 of 30 Sensex stocks end the day in the red
- Index contributors: Tata Steel, RIL, Kotak Bank, SBI, L&T
- Top Index gainers: HUL (4.76%), Asian Paints (3.55%), Nestle (3.14%)
- Top Index losers: Tata Steel (8.86%), SBI (3.30%), DRL (3.01%)
- S&P BSE Fast Moving Consumer Goods sectoral gainer, up 2.23%
- S&P BSE METAL biggest sectoral loser, down 6.90%
- Volume toppers: Tata Steel, Asian Paints, Bajaj Finance, SBI, RIL
Volatility gauge India Vix surges 8.54%
HUL market cap crosses Rs 6 lakh crore for the first time ever, stock at record high
Gold, silver spot prices
Mahindra Holidays eyes acquisitions expecting ‘revenge travel’ in India
S&P puts Tata Group cos on CreditWatch with positive implications
EKI Energy reports Rs 193 cr revenue, Rs 36 cr PAT in June quarter
AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO
Aarti Industries shares fall 3% after co announces demerger of pharma unit
Asian shares head for lowest close since November
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.75%, with Chinese blue chips down 1.22% and Hong Kong down 0.53%.
Sharp plunge in iron ore futures across the world spooks investors in metal stocks
Iron ore extended its rout as BHP Group, a leading mining company, warned it sees an increasing likelihood of “stern cuts” to China’s steel output this year. The prospect of much lower steel production in the second half is testing the bullish resolve of the futures markets, BHP wrote in a commodities outlook report on its website.
Ashok Leyland, Tata Motors among top losers in auto pack
Price as on 20 Aug, 2021 12:57 PM, Click on company names for their live prices.
Sensex world’s best performer in August among primary indexes of nations with an equity market capitalization of at least $3 trillion: Bloomberg report
BofA Securities expects Nifty50 to fall to the levels of 15,000 in near term
Jefferies hikes India’s weight undeterred by lofty valuations, taper scare
Christopher Wood, Global Head of Equities at Jefferies, said he will increase the weight of India in his Asia Pacific ex-Japan portfolio by two percentage points, notwithstanding the taper scare that has spooked markets worldwide.
Nifty Metal down 8% in last 3 trading sessions
Rupee falls 20 paise to 74.44 against US dollar
Steel stocks tank up to 7%
Price as on 20 Aug, 2021 10:38 AM, Click on company names for their live prices.
Eicher’s Siddhartha Lal loses MD post over plan to increase his salary by 10%
Siddhartha Lal’s re-appointment as managing director of Eicher Motors Ltd has been voted down by shareholders. Sources told ET that they were basically against a proposal to increase his salary by 10% as it outpaced the company’s revenue and profit growth last year amid the Covid-19 pandemic.
Vodafone Idea tanks 5% despite clarification on licence fees
CarTrade Tech lists at 1% discount to issue price
Top losers in banking pack
Price as on 20 Aug, 2021 09:51 AM, Click on company names for their live prices.
CarTrade Tech Listing Today
If we go by grey market trends, the stock was commanding a premium of Rs 135 as of Thursday, hinting at a modest listing gain of 8 per cent. Analysts advised only aggressive investors to stay with the stock post listing.
Most sectoral indices in red. Nifty Metal down 3%, Nifty Bank down 1%
Fear gauge index India VIX jumps 5% to 13.5
Most Sensex stocks open in red; Tata Steel, Kotak Bank among top drag
Opening Bell: Sensex tanks 400 points, Nifty below 16,400; Tata Steel plunges 4%, DRL 2%
Pre-open session: : Sensex tanks 470 points, Nifty below 16,400
CarTrade Tech to make market debut today
The stock will make its market debut on Friday. If we go by grey market trends, the stock was commanding a premium of Rs 135 as of Thursday, hinting at a modest listing gain of 8 per cent. Analysts advised only aggressive investors to stay with the stock post listing.
SGX Nifty rises in early trade
Nifty futures on Singapore Exchange traded 35 points, or 0.21 per cent, higher at 16,374 in Friday’s trade. But Nifty50 is all likely to see a weak start, as it joins global selloff after Thursday’s public holiday. The 50-pack index had closed at 16,568.85 on Wednesday.
Tech View: Nifty50’s Dark Cloud Cover sends early signs of reversal
Nifty50 on Wednesday snapped its seven-day winning streak as traders turned nervous, pushing the NSE barometer past 15,700 for the first time ever. The 50-pack index ended up forming a ‘Dark Cloud Cover’ candle on the daily chart, signaling initial signs of reversal. Analysts said the index has managed to hold above its immediate support range of 16,500-15,450 and any fall below this range could attract selling pressure.
Dollar index little changed in early trade
The safe-haven U.S. dollar hovered near a 9-1/2-month high against major peers on Friday, buoyed by fears that the Delta coronavirus variant could delay the global economic recovery. The dollar index, which measures the currency against six rivals, was little changed at 93.544 from Thursday when it touched 93.587 for the first time since early November. For the week, it’s on track to gain 1.1%, the most in two months.
Oil steadies but set to slump for the week on Delta anxiety
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new lockdowns in countries with low vaccination rates facing surging cases of the Delta variant dimmed the outlook for fuel demand. US West Texas Intermediate (WTI) crude futures for September, due to expire on Friday, rose 35 cents or 0.5% to $64.04 a barrel at 0115 GMT after sliding 2.7% on Thursday. The more active October contract rose 33 cents or 0.5% to $63.83.
Hong Kong stocks open lower
Hong Kong stocks fell at the open of business Friday, extending the previous day’s losses, fuelled by ongoing concerns over China’s regulatory crackdowns and the impact of the fast-spreading Delta Covid variant. The Hang Seng Index fell 0.30 percent, or 75.01 points, to 25,241.32. The Shanghai Composite lost 0.67 percent, or 23.05 points, to 3,442.51, while the Shenzhen Composite Index on China’s second exchange dropped 0.69 percent, or 16.74 points, to 2,400.50.
Japan stocks open lower with eyes on virus cases
Tokyo stocks opened lower on Friday in cautious trade after Wall Street shares closed flat with investors eyeing increasing virus cases. The benchmark Nikkei 225 index was down 0.08 percent, or 20.89 points, at 27,260.28 in early trade, while the broader Topix index lost 0.09 percent, or 1.80 points, to 1,895.39.
US stocks settled mixed
Wall Street closed out another choppy day of trading Thursday, leaving the major stock indexes on pace for a weekly loss. The S&P500 index managed a 0.1% gain after having been down 0.7% in the early going. The Nasdaq composite also recovered to eke out 0.1% gain, while the Dow Jones Industrial Average slipped 0.2%.
Rupee gains 11 paise to close at 74.24 against dollar
The rupee appreciated 11 paise to close at 74.24 against the US dollar on Wednesday, tracking gains in Asian peers against the greenback. Though, intense selling pressure in the domestic equities and surging crude oil…
Read More:Stock Market Highlights Today: Nifty forms ‘Dark Cloud Cover’ on daily chart. What does it signal for tomorrow’s trade?
2021-08-20 13:51:00