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Friday, December 03, 2021

Market Highlights: Sensex crashes 433 points, Nifty settles below 17,900-mark; banks, pharma, autos drag

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,919.69, down 433.13 points (0.72 per cent), while the Nifty 50 settled at 17,873.60, down 143.60 points (0.80 per cent).

By: Express Web Desk | New Delhi |
Updated: November 11, 2021 5:30:33 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) ended nearly 1 per cent lower on Thursday dragged by banks pharmaceutical and automobile stocks amid weak global cues.

The S&P BSE Sensex slumped 433.13 points (0.72 per cent) to end below the 60,000 level mark at 59,919.69 while the Nifty 50 declined 143.60 points (0.80 per cent) to settle at 17,873.60.

State Bank of India (SBI) was the top loser of the day falling nearly 3 per cent on Sensex. It was followed by Bajaj Finserv, Tech Mahindra, Sun Pharmaceutical Industries, Bajaj Finance and Asian Paints. On the other hand, Titan Company, Mahindra & Mahindra (M&M), Reliance Industries (RIL), Tata Consultancy Services (TCS), IndusInd Bank and Tata Steel were the gainers.

Among sectors, the Bank Nifty fell 1.19 per cent dragged by SBI, RBL Bank and IDFC First Bank. The Nifty Auto index too slipped 1.18 per cent weighed by Balkrishna Industries and Bharat Forge. Apart from this, the Nifty Pharma index cracked 1.39 per cent due to a fall in Laurus Labs and Alembic Pharmaceuticals.

(with inputs from agencies)

Live Blog

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

17:29 (IST)11 Nov 2021
Sapphire Foods India IPO update: End of Day 3 - Final day

Sapphire Foods IPO: At the end of Day 3, the initial public offering (IPO) of Sapphire Foods India, which operates KFC and Pizza Hut outlets, got subscribed 6.62 times.

Details:

Qualified Institutional Buyers (QIBs) subscribed 7.50 times

Non Institutional Investors subscribed 3.46 times

Retail Individual Investors (RIIs) subscribed 8.70 times

Total subscribed 6.62 times

Source: BSE

15:50 (IST)11 Nov 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Thursday's market performance

"Global inflationary pressure following upsetting US inflation data forced the domestic market to trade with deep cuts. Beating the market estimates, US inflation hit a 30-year high level of 6.2% YoY adding fears of an earlier than expected rate hike, while US bond yields shot higher. Rising inflationary pressure along with prospects of an early rate hike can keep the domestic market on edge as such indicators tempt foreign investors to pump out liquidity from emerging markets like India"

15:48 (IST)11 Nov 2021
Go Fashion IPO to open on November 17

The Rs 800-crore initial share-sale of Go Fashion (India) Ltd, which owns women’s wear brand Go Colors, will open for public subscription on November 17.

The initial public offering (IPO) will conclude on November 22, according to the red herring prospectus (RHP). Click here to read

15:44 (IST)11 Nov 2021
Equity markets at close

The S&P BSE Sensex ended at 59,919.69, down 433.13 points or 0.72 per cent, while the Nifty 50 settled at 17,873.60, down 143.60 points or 0.80 per cent.

12:13 (IST)11 Nov 2021
Latent View Analytics IPO: Everything you need to know

The initial public offering (IPO) of Latent View Analytics opened for subscription on Wednesday, November 10, 2021. The offer got fully subscribed within hours of opening and by the end of the first day of bidding, it was subscribed 6.39 times.

It received total bids for 11,19,06,580 shares across both the stock exchanges against 1,75,25,693 shares on offer, data from BSE showed. Click here to read

10:39 (IST)11 Nov 2021
Elon Musk sells $5 billion in Tesla shares after Twitter poll

Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after he polled Twitter users about selling 10% of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while he also sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.

The 4.5 million shares equate to about 3% of his total holdings in the electric vehicle manufacturer, which makes up the vast part of his estimated $281.6 billion fortune, according to Forbes. Musk on Saturday polled Twitter users about selling 10% of his stake, helping to push down Tesla’s share price after a majority on Twitter said they agreed with the sale. Click here to read

10:34 (IST)11 Nov 2021
Petrol and diesel price unchanged

Petrol and diesel prices were steady for the seventh successive day on Thursday, November 11, 2021. The fuel prices across key metropolitan cities were last revised on November 4 after the central government cut the excise duty on the two key fuels to bring down their retail rates from their record highs.

The price of petrol in Delhi stands at Rs 103.97 per litre while that of diesel is at Rs 86.67. In Mumbai, petrol currently costs Rs 109.98, while diesel is retailing at Rs 94.14, data available on Indian Oil Corporation’s website showed. Click here to read

10:09 (IST)11 Nov 2021
Investor number in crypto mkt seems exaggerated: Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das on Wednesday raised serious concern over the rapid growth of cryptocurrency business in India. The central bank has serious concerns around cryptocurrencies and feels these private virtual currencies can undermine macroeconomic and financial stability, Das said.

The RBI has given a detailed presentation to the government in this regard, which is getting worked upon, he said at an event organised by Business Standard. Click here to read

09:56 (IST)11 Nov 2021
Global market update

Inflation fears pressured Asian stocks and buoyed the dollar on Thursday after data overnight showed U.S. consumer prices surged at the fastest pace since 1990 last month, boosting the case for faster Federal Reserve policy tightening.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.85%, led by a 1.19% slide in Australia's benchmark.

Chinese blue chips slipped 0.09%. Japan's Nikkei bucked the trend by rising 0.24%, supported by the yen's weakness against a resurgent dollar and as U.S. stock futures ticked up slightly.

Overnight though, the S&P 500 tumbled 0.82%, its worst day in more than a month. That marked the first back-to-back declines in a month, after the index closed at a record peak to start the week.

(Reuters)

09:53 (IST)11 Nov 2021
Equity market at open

Sensex slumps 226.36 pts to 60,126.46 in opening session; Nifty declines 62.95 pts to 17,954.25.

(PTI)

On Wednesday, the benchmark indices on the BSE and National Stock Exchange (NSE) ended marginally lower amid weakness in the global markets.

The S&P BSE Sensex ended 80.63 points (0.13 per cent) lower at 60,352.82, while the Nifty 50 fell 27.05 points (0.15 per cent) to settle at 18,017.20.

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