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Market LIVE Updates: Sensex opens 371 pts lower, Nifty at 17,658; pharma gains – Mint

Sensex, Nifty were down over 0.56%. Asia stocks fell Wednesday after U.S. stocks saw their worst day since May and bond yields spiked on concerns about inflation. Treasuries added to a decline.

29 Sep 2021, 10:12:12 AM IST

Market commentary: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

“The index is facing resistance at higher levels and is unable to break lower levels. This is a trading opportunity in the making! If we get past 17,950, the Nifty will scale up higher to 18,050. If we break 17,500 on a closing basis, we could see a correction which could take us closer to 17,200.”

29 Sep 2021, 09:53:36 AM IST

Godrej Properties gains

Godrej Properties Ltd’s stocks were trading at 2,289.00 each, up 2.48% at 9:52 am on Wednesday. The company said that it has entered into an agreement to redevelop a land parcel in Mumbai’s Wadala locality. The project is spread across 7.5 acres and will offer about 1.6 million sq ft of saleable area, comprising primarily of residential apartments of different configurations.



29 Sep 2021, 09:50:43 AM IST

L&T Infotech: Axis Securities maintains BUY

CMP : 5985 | Target: 6650 | Upside : 11%

The management has guided for double-digit growth in FY22 in the backdrop of the robust deal pipeline the company has won by far. Additionally, higher offshoring, better utilization, and lower attrition are likely to expand its Operating Margins moving forward. We recommend a BUY rating on the stock and assign a 39x P/E multiple to its FY24E earnings of 169.3/share to arrive at a TP of 6,650/share. The TP implies an upside of 11% from CMP.



29 Sep 2021, 09:49:17 AM IST

IndusInd, ICICI Bank top drags

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Nifty Bank index
29 Sep 2021, 09:35:24 AM IST

Banks, financials drag

Nifty sectoral indices

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Nifty sectoral indices
29 Sep 2021, 09:33:34 AM IST

Fitch affirms Adani Green Energy notes at ‘BBB-‘ with a negative outlook



29 Sep 2021, 09:22:41 AM IST

HDFC Bank, ICICI Bank drag Sensex down

Index contribution

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Index contribution
29 Sep 2021, 09:21:48 AM IST

Market opening 

The Sensex opened at 59,296.54, down 371.06 points, or 0.62%, while the Nifty was down 90.65 points or 0.51% to 17,657.95. Realty was top drag

Sensex at open

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Sensex at open
29 Sep 2021, 08:58:51 AM IST

Pre market opening quote: Gaurav Udani, CEO and founder, ThincRedBlu Securities

“Nifty is expected to open around 17,640, down by 100 points since yesterday’s close. Nifty has strong support in 17,580-17,520 range and will face resistance in 17,800-17,810 range. Nifty is currently trading sideways in a 300-400 points range. Buy on dips with strict stoploss can be used as a strategy in current markets. Discipline is the key to survival in such markets.” 

29 Sep 2021, 08:38:08 AM IST

Stocks to Watch

Adani Enterprises, CESC, M&M, HDFC AMC, Max Healthcare among other stocks may be in the news today. (Read more)

29 Sep 2021, 08:19:53 AM IST

Market outlook

Markets may extend sell-off on Wednesday while trends in SGX Nifty suggest weak opening of Indian benchmark indices. On Tuesday, the BSE Sensex ended at 59,667.60, down 410.28 points or 0.68% and the Nifty closed at 17,748.60, down 106.50 points or 0.60%.

29 Sep 2021, 08:03:58 AM IST

Aditya Birla AMC IPO opens today: GMP, other details. Should you subscribe?

Fun house Aditya Birla Sun Life AMC has come up with it public issue to raise 2,770 crore, which opens today and closes on October 1. The three-day initial share sale’s price band has been fixed at 695-712 per share. Ahead of its IPO, the company on Tuesday collected 789 crore from anchor investors ahead of its. (Read more)

29 Sep 2021, 07:43:11 AM IST

Asian markets open lower

Asia stocks fell Wednesday after U.S. stocks saw their worst day since May and bond yields spiked on concerns about inflation. Treasuries added to a decline. MSCI Inc.’s gauge of Asian stocks dropped more than 1%—and is headed for its first quarterly slide in six. Japan fell more than 2% and Hong Kong and China opened weaker. U.S. futures fluctuated after the S&P 500 closed 2% lower—the most since May—with concerns over the debt-ceiling impasse in Washington adding to investor angst. The Nasdaq 100 tumbled the most since March as technology shares fared worse than economically sensitive stocks amid rising Treasury yields.

S&P 500 futures rose 0.1% as of 10:35 a.m. in Tokyo. The S&P 500 fell 2%

Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 2.9%

Topix index dropped 2.6%

Australia’s S&P/ASX 200 Index fell 1.5%

Kospi index fell 2.1%

Hang Seng Index fell 1.7%

Shanghai Composite Index lost 1.1%

29 Sep 2021, 07:32:46 AM IST

Wall Street indices close lower 

The selloff in risk assets accelerated on Tuesday amid mounting concern over the debt-ceiling impasse in Washington, with stocks suffering their worst rout since May. During a Senate hearing, Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen both warned that a U.S. default due to a failure to raise the debt ceiling would have catastrophic consequences. Republicans blocked a Democratic move in the Senate to raise the debt limit—escalating tensions less than three weeks before the Treasury potentially runs out of capacity to avert a federal payments default. The S&P 500 extended its September selloff, with technology shares underperforming economically sensitive companies. The Nasdaq 100 tumbled the most since March. The yield on Treasury 30-year bonds climbed more than 10 basis points. The dollar rallied. Brent slipped from a three-year high above $80 a barrel, dragged lower by a rout in U.S. equities.

The S&P 500 fell 2% as of 4 p.m. New York time

The Nasdaq 100 fell 2.9%

The Dow Jones Industrial Average fell 1.6%

The MSCI World index fell 1.9%

The Russell 2000 Index fell 2.2%

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