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Wednesday, September 22, 2021

Market Highlights: Indices end flat, Sensex dips 17 points; Realty, IT, PSU banks drag

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 58,279.48, down 17.43 points (0.03 per cent), while the Nifty 50 settled at 17,362.10, down 15.70 points (0.09 per cent).

By: Express Web Desk | New Delhi |
Updated: September 7, 2021 4:28:00 pm
bse, bombay stock exchangeBombay Stock Exchange (BSE) in Dalal Street (Express photo by Nirmal Harindran)

Share/Stock Market Highlights: The topline equity indices on the BSE and National Stock Exchange (NSE) ended on a flat note with marginal losses on Tuesday following profit booking at higher levels amid weak cues from European markets.

The S&P BSE Sensex slipped 17.43 points (0.03 per cent) to end at 58,279.48, while the Nifty 50 settled at 17,362.10, down 15.70 points (0.09 per cent). Both the indices had opened on a flat note earlier in the day and moved in a range throughout the day.

Sun Pharmaceutical Industries, Tech Mahindra, Axis Bank, HCL Technologies, Infosys and Tata Consultancy Services (TCS) were the top losers of the day on the Sensex pack while Housing Development Finance Corporation (HDFC), Bharti Airtel, IndusInd Bank, ITC, Ultratech Cement and Nestle India were the top gainers.

Among sectoral indices on NSE, the Nifty Realty index was the worst performer of the day slipping 2.33 per cent weighed by Sobha and Prestige Estates Projects. This apart the Nifty IT index fell 1.31 per cent dragged by Coforge and Oracle Financial Services Software. The Nifty PSU Bank index too declined 1.25 per cent owing to the shares of Bank of India and Bank of Maharashtra.

In the broader market, the S&P BSE MidCap index ended at 24,368.83, down 57.09 points (0.23 per cent) while the S&P BSE SmallCap settled at 27,350.03, down 116.63 points (0.42 per cent).

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

15:49 (IST)07 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 58,279.48, down 17.43 points or 0.03 per cent, while the Nifty 50 settled at 17,362.10, down 15.70 points or 0.09 per cent.

13:16 (IST)07 Sep 2021
Explained: Why a new code for creditors under IBC; what precipitated this

The insolvency regulator has called for public comments on a proposal to introduce a code of conduct for Committees of Creditors (CoC), of companies undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC).

The Indian Express examines the need for a code of conduct for the CoC and key issues raised in the proposed policy. Click here to read

12:12 (IST)07 Sep 2021
Petrol and diesel prices unchanged

Petrol and diesel prices remained steady across the country for the second consecutive day on Tuesday, September 7, 2021. On September 5, petrol and diesel prices were cut by 15 paise per litre each in the national capital.

The price of petrol in Delhi stands at Rs 101.19 per litre while that of diesel is at Rs 88.62. In Mumbai, petrol currently costs Rs 107.26, while diesel is retailing at Rs 96.19, data available on Indian Oil Corporation’s website showed. Click here to check prices in your city

11:29 (IST)07 Sep 2021
India Inc unlocks profits post Covid losses; sales up 60%

Aided by a decline in Covid cases and unlocking of restrictions, sales and net profit of listed non-financial, non-government companies have reported a significant jump for the quarter ended June 30, 2021.

According to an RBI analysis, 2,610 companies posted a 60.6 per cent rise in sales to Rs 9.87 lakh crore in June 2021 as against Rs 6.11 lakh crore. This rise was aided by low base in the June quarter of 2020 as Covid pandemic forced companies to shut down operations and sales plummeted. Click here to read

10:54 (IST)07 Sep 2021
Rupee slips 7 paise to 73.17 against US dollar in early trade

The Indian rupee slipped 7 paise to 73.17 against the US dollar in opening trade on Tuesday, tracking a strong American currency in the overseas market and muted trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 73.12 against the dollar, then fell to 73.17, registering a decline of 7 paise from the last close.

(PTI)

10:15 (IST)07 Sep 2021
Distress signal came early: farm, unpaid women labour surged

TWO SPECIFIC trends in the Government’s 2019-20 employment statistics, mapped till the first three months of the pandemic (April-June 2020), signify a break from the steady structural transformation in the labour market over the last two decades: reversal of the falling share of agriculture and a decisive turnaround in declining female participation.

Both these trends clearly point to household distress precipitated by the steady fall in GDP growth rates over the past years, say analysts. A Union Labour Ministry official, however, attributed the farm labour surge to a “hard lockdown” in urban areas during April-June, and described the rebound in female participation as a “positive sign”. Click here to read

10:10 (IST)07 Sep 2021
Oil wobbles as demand woes stalk market after Saudi price cuts

Oil prices were wobbly on Tuesday as investors grappled with demand concerns after Saudi Arabia's sharp cuts to crude contract prices for Asia.

Brent crude futures for November rose 4 cents, or 0.1%, to $72.26 a barrel by 0056 GMT, after falling 39 cents on Monday.

US West Texas Intermediate crude for October was at $68.88 a barrel, down 41 cents, or 0.6%, from Friday's close, with no settlement price for Monday due to Labor Day holiday in the United States.

(Reuters)

09:51 (IST)07 Sep 2021
Global market update

Asian stock markets rose Tuesday as investors watched for decisions from central banks in Europe and elsewhere about when they might start to wind down economic stimulus.

Shares advanced in Shanghai, Tokyo and Hong Kong, which are the bulk of Asia's market capitalisation. Seoul and Sydney declined.

US markets were due to reopen following a three-day weekend.

The Shanghai Composite Index rose 0.6% to 3,644.36 and the Nikkei 225 in Tokyo gained 0.8% to 29,894.92. The Hang Seng in Hong Kong advanced 0.9% to 26,398.46.

The Kospi in Seoul shed 0.5% to 3,187.26 and Sydney's S&P-ASX 200 declined 0.1% to 7,519.60.

(AP)

09:48 (IST)07 Sep 2021
Equity markets at open

Sensex falls 79.69 pts to 58,217.22 in opening session; Nifty slips 26.30 pts to 17,351.50.

(PTI)

On Monday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had climbed 0.3 per cent to end at fresh record highs led by gains in Reliance Industries (RIL) and information technology (IT) stocks.

The S&P BSE Sensex rose 166.96 points (0.29 per cent) to end at a record closing high of 58,296.91. Earlier in the day, the BSE benchmark had surged 385.90 points (0.66 per cent) to hit a fresh record intraday high of 58,515.85.

Likewise, the Nifty 50 climbed 54.20 points (0.31 per cent) to end at an all-time high of 17,377.80. The NSE barometer had earlier breached the 17,400-mark for the first time ever to touch a record high of 17,429.55.

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