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MARKETS: Sensex down 300pts; Latent View IPO sails through within 1 hr – Business Standard

Markets at 11 AMLIVE market updates: Benchmark equity indices continue to trade in the negative zone as investors have shifted from ‘buy on dips’ to ‘sell on rally’ strategy.

At 11:05 AM, the frontline S&P BSE Sensex was at 60,141 levels, down 292 points or 0.48 per cent, dragged by Tata Steel, IndusInd Bank, ICICI Bank, HDFC, SBI, and NTPC.

The Nifty50 index, on the other hand, was below 17,950 levels.

In the broader markets, however, the BSE SmallCap index was outperforming the benchmarks, trading 0.4 per cent higher, amid gains in Sharda Motor Industries, HEG, Banco Products, Redington, and Sandur Manganese Iron Ores.

On the earnings front, shares of Bank of Baroda fell 1.5 per cent to Rs 104.75 apiece on the BSE in Wednesday’s intra-day trade ahead of the company’s July-September quarter (Q2FY22) results, due later in the day. Analysts largely expect the lender’s Q2 performance to be remain muted amid meagre loan book expansion, elevated slippages, and margin contraction. READ MORE

Meanwhile, in the primary market, the IPO of Paytm has been subscribed 55 per cent so far on final day; Sapphire Foods (63 per cent) on day 2; and Latent View Analytics (1.65 times) on first day of the issue.

Markets at 10 AMLIVE market updates: The key benchmark indices languished in the negative zone in the first hour of trades on Wednesday. The BSE Sensex was down 331 points at 60,102, and the NSE Nifty had declined 96 points at 17,948.FSN E-Commerce Ventures promoted Nykaa, India’s biggest online marketplace for beauty and personal care products, debuted at a hefty 79 per cent premium at Rs 2,018 as against the issue price of Rs 1,125. The stock was trading at highs of the day at Rs 2,093 – up 86 per cent from the issue price. The counter had seen trades of nearly 10 million shares so far on the BSE.Tata Steel was the major loser among the Sensex 30 stocks, down 2.5 per cent at Rs 1,302. ICICI Bank, IndusInd Bank, Kotak Bank, HDFC, SBI, PowerGrid Corporation, NTPC, Hindustan Unilever, Asian Paints and HDFC Bank were the other notable losers, down over a per cent. Mahindra & Mahindra was the only steady gainer, up 1.5 per cent.Among sectoral indices, the BSE Metal index was down 1.5 per cent. The Bankex and Realty indices were also down over a per cent each.The broader indices were mxied. While, the BSE Midcap index was down 0.3 per cent, the Smallcap index was up 0.3 per cent.Williamson Magor, Sharda Motor, 3i Infotech, Kennametal, Redington, HEG, S H Kelkar, Intellect Design and PTC India Financial were some of the major gainers. On the other hand, Rossell India, Mangalam Organics, BHEL and Godawari Power were the significant losers.
Opening Bell
LIVE market updates: The BSE benchmark index, the Sensex, opened 138 points lower at 60,295, and soon extended losses in the opening trades on account of subdued global cues, spike in crude oil prices and persistent selling by foreign investors.At 09:20 AM, the BSE Sensex was down 428 points at 60,005. The NSE Nifty once again gave-up the 18,000-mark, and was down 121 points at 17,923.Index heavyweight, HDFC was down 1.5 per cent at Rs 2,898. Kotak Bank, Axis Bank, ICICI Bank, SBI and IndusInd Bank were the other prominent losers in the Sensex 30 stocks.On the other hand, Mahindra & Mahindra extended its upmove following the September quarter results. The stock was up 1.5 per cent at Rs 807.The broader indices were a little better-off, with the BSE Midcap index down 0.3 per cent, and the Smallcap index almost unchanged.
Pre-open session (Updated at 9:07 AM)
LIVE market update: Benchmark indices were trading in the red in the pre-open session with the BSE Sensex quoting 136 points lower at 60,297 at 9:07 AM. The Nifty50, on the other hand, was at 17,973, down 71 points.___________________________________________________________________________________________(Updated at 8:15 AM)LIVE market updates: Investors may approach the markets cautiously given the possibility of further consolidation amid spike in crude oil prices and persistent selling by foreign investors. The FIIs were net sellers of stocks worth Rs 2,445 crore on Tuesday, while DIIs net bought shares to the tune of Rs 1,418 crore.At 8:15 AM, SGX Nifty was at 17,956, down 123 points.New listing
Nykaa will be in focus as the stock debuts on the exchanges today. The stock was reportedly commanding a solid premium in the grey market.Earnings today
Balmer Lawrie, Bank of Baroda, Berger Paints, CRISIL, Equitas, Firstsource Solutions, Hindustan Motors, India Cements, NIIT, Oil India, PTC, RCF, Strides Pharma, Thermax, Wonderla and Zomato are few of the major companies scheduled to report earnings today.Global cues
The US markets snapped its multi-day record breaking streak on Tuesday as inflation worries resurface. The S&P 500 and Dow Jones slipped 0.3 per cent each, while the Nasdaq declined 0.6 per cent.

Oil prices rose to a 2-week high, after US lifted travel restrictions. Brent Crude was up 0.3 per cent at $85.11 a barrel, and WTI Crude was up 0.12 per cent to $84.25 a barrel.

This morning in Asia, the Nikkei, Kospi and Straits Times were down 0.2 – 0.4 per cent each. China’s Shanghai Composite however was up 0.2 per cent, and the Taiwan Weighted index added 0.1 per cent