Press "Enter" to skip to content

MARKETS: Sensex slips 400pts, Nifty near 18,000; SBI, Reliance weigh – Business Standard

Markets at 02:30 PMLIVE market updates: The key benchmark indices have once again slipped to lower levels on the back of persistent selling pressure in SBI and Reliance Industries.

The BSE Sensex was down 251 points at 60,468, and the Nifty had slipped 74 points to 18,035. Meanwhile, the broader indices continued to hold gains.SBI and Reliance Industries were down around 2 per cent each, Maruti and Mahindra & Mahindra continued to hold firm gains.In the broader markets, TV Today was locked at the 20 per cent upper circuit. Aurum Proptech, Va Tech Wabag, SpiceJet, Greaves Cotton, NHPC, Sterlite Technogloies and VST Tillers were the other major gainers, up 8-10 per cent each.On the other hand, Maharashtra Seamles, Asahi India, Transport Corporation of India, Fine Organics, Minda Industries, Tasty Bite and DFM Foods were the prominent losers.Meanwhile, the European markets were up marginally in early deals. The DAX 30 and CAC 40 were up 0.2 per cent each, while FTSE 100 was almost unmoved.
Markets at Lunch (01:30 PM)
LIVE market updates: The key benchmark indices recouped losses but largely trade in a narrow band. The BSE Sensex was down four points at 17,715, and the NSE Nifty was up two points at 18,111.Among sectors, the auto index has zoomed 2.5 per cent, and the IT index was up 0.8 per cent. The BSE Energy index, however, has slipped a per cent.The broader indices were out-performing the benchmark indices. The BSE Midcap and Smallcap indices were up 0.4 per cent and 0.7 per cent, respectively.In the broader markets, shares of Macrotech Developers (Lodha) zoomed 14 per cent to a new all-time high after the company launched its QIP issue to raise Rs 4,000 crore on Monday. The stock has zoomed 200 per cent from its issue price in just 7 months. READ MORETV Today was locked at the 20 per cent upper circuit on heavy volumes. The stock has out-performed the benchmark index on the back of strong September quarter results. READ MOREElsewhere in Asia the markets ended on a mixed note. Hang Seng surged a per cent, and Taiwan gained 0.3 per cent. Shanghai Composite was down 0.3 per cent, while Nikkei, Straits Times and Kospi ended on a flat note.
Markets at NOON
LIVE market updates: After hitting the day’s low of 60,406 (down over 300 points), the BSE Sensex index trimmed losses partially and was at 60,530 level. The NSE Nifty, meanwhile, was around 18,050 at 12:03 PM.The broader indices on the BSE are constantly in the green, supporting market breadth.Individually, shares of NIIT hit a multiyear high of Rs 431.15 after they rallied 9 per cent on the BSE in Tuesday’s intra-day trade on the back of heavy volumes. In the past one week, the stock of the information technology (IT) training services company has zoomed 41 per cent after it reported a strong set of numbers for the quarter ended September 2021 (Q2FY22). READ MOREGlenmark Pharmaceuticals share price fell over 3 percent intraday to Rs 516.45 on November 16 after foreign broking house Morgan Stanley kept “underweight” rating on the stock with the target at Rs 554.About 168 stocks have hit 52-week highs, so far, on the BSE including Adani Enterprises, Apollo Hospitals, Ashok Leyland, and Bata India. READ MORE ABOUT THEM
Markets at 11 AM
LIVE market updates: Barring financials and banking stocks, most of the key sectoral players are trading higher on the bourses.The Nifty Auto index, for instance, was up 1 per cent and was leading the list of gainers in late morning deals. Among individual stocks, Motherson Sumi Systems, Varroc Engineering, JBM Auto, VST Tillers Tractors and Sharda Motor Industries ralling up to 10 per cent on the BSE on expectation of improved outlook. READ MOREThat apart, the Nifty Media, IT, and Metal indices were up between 0.8 per cent and 1.1 per cent.Overall, the BSE Sensex index was down206 points at 60,512 levels and the Nifty50 was at 18,055. In the broader markets, the BSE MidCap index was up 0.2 per cent while the BSE SmallCap index was up 0.7 per cent.In the primary market, the three-day issue of Tarsons Products has been subscribed 1.4 times till 11 AM on Day 2. ___________________________________________________________________________________________
Markets at 10 AM
LIVE market updates: Frontline indices were mildly off the day’s low as investors rushed to sell pharma stocks, along with metals, banks, and select FMCG stocks.

The BSE Sensex was down 177 points at 60,541 levels at 10:05 AM while the Nifty50 was at 18,078, down 38 points. Both the indices touched an intra-day low of 60,434 and 18,033, respectively, earlier today.

Reliance Industries (down 1.5 per cent) was the biggest laggard on the Nifty index, followed by HDFC, Asian Paints, Kotak Bank, Divis Labs, HDFC Bank, and Cipla. On the upside, Maruti Suzuki (up 1.8 per cent), Tata Motors, JSW Dteel, Hero MotoCorp, Adani Ports, and Tata Steel were leading the list of gainers.

Gains in broader markets continue to support the overall market breadth.Individually, shares of PB Fintech, the parent company of Policybazaar, rallied another 16 per cent to Rs 1,397 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after a strong market debut on Monday. With today’s rally, the stock has surged 43 per cent against its issue price of Rs 980 per share. READ MORE

In the currency market, rupee opened at 74.49 per US dollar compared with Monday’s close of 74.48/$.
Opening Bell
LIVE market updates: The benchmark indices started in the negative territory on Tuesday amid selling in metals and financial counters. The BSE Sensex index declined 134 points, or 0.22 per cent, in early deals at 60,585 levels, dragged by Tata Steel, HDFC, Reliance Industries, Axis Bank, Kotak Bank, and Asian Paints.

The NSE Nifty50, too, dipped 32 points to quote at 18,077-mark. Meanwhile, the broader MidCap and SmallCap indices on the BSE rose up to 0.2 per cent.

Among individual stocks, Escorts rose 0.23 per cent after the company said its board is scheduled to meet on November 18, to consider and evaluate proposals for raising funds by way of issue of bonds/ debentures/ any other securities.

That apart, Macrotech Developers added 1.6 per cent as the company launched its qualified institutional placement (QIP) programme to raise Rs 4,000 crore.

Lastly, Coforge zoomed 5.7 per cent amid reports that the company is likely to soon file papers with the US SEC (Securities Exchange Commission) for an initial public offer via the ADR (American Depository Receipts) route.Sectorally, the Nifty IT index was up 0.4 per cent while the Nifty Financial Services index was down 0.5 per cent.

Overall, the market breadth favoured buyers with 1,334 stocks advancing on the BSE as against 853 stocks that declined.
Pre-open session:LIVE market updates:
Frontline indices ended flat on the bourses in the pre-open session. The BSE Sensex, for instance, settled around 60,755 levels, up 36 points. The Nifty50, on the other hand, was up 17 points at 18,127._____________________________________________________________________________________________
Updated at 8:25 AM
LIVE market updates: Indices may continue to trade sideways on Tuesday amid lack of triggers. At 8:15 AM, SGX Nifty was up 56 points at 18,195 levels. On tech charts, the Nifty needs to sustain above 18,070-odd level for further gains. While the index can rally up to 18,500 on the higher side, the Nifty can drop to 17,800-odd levels on the downside.
Primary Market Update

Tarsons Products’ Rs 1,024 crore IPO managed full subscription by the end of Day 1 with retail portion seeing a subscription level of 2.1 times.
Global cues
On Monday, the US markets ended almost flat amid an uptick in Treasury yields. According to a Reuters report, the focus is now on retail sales data for October, which is expected to show the impact of inflation on consumer spending.
In Asia, Hang Seng and Taiwan were up 0.3 per cent each. Nikkei, Shanghai Composite, Straits Times and Kospi were more or less unchanged.