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Friday, December 03, 2021

Market Highlights: Sensex crashes 456 points, Nifty ends below 18,300 weighed by RIL, Infy and HDFC Bank

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 61,259.96, down 456.09 points (0.74 per cent), while the Nifty 50 settled at 18,266.60, down 152.15 points (0.83 per cent).

By: Express Web Desk | New Delhi |
Updated: October 20, 2021 5:12:02 pm
bse, bse sensex, bombay stock exchangeBombay stock exchange in Dalal street. (File express photo by Nirmal Harindran)

Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell for the second consecutive day on Wednesday amid a selloff across sectors.

The S&P BSE Sensex cracked 456.09 points (0.74 per cent) to end at 61,259.96 while the Nifty 50 declined 152.20 points (0.83 per cent) to settle at 18,266.60.

Market heavyweight Reliance Industries (RIL) was the biggest contributor to Sensex’s fall on Wednesday. It was followed by Infosys, HDFC Bank, Hindustan Unilever (HUL) and Larsen & Toubro (L&T).

Among sectoral indices on NSE, the Nifty Metal index fell 2.06 per cent on Wednesday weighed by Hindustan Copper and Vedanta. The Nifty Realty index too cracked 2.16 per cent due to a fall in Macrotech Developers and Indiabulls Real Estate. The Nifty Pharma index fell 1.44 per cent dragged by Gland Pharma and Strides Pharma Science.

The broader market indices performed worse than their benchmark peers. The S&P BSE MidCap index ended at 25,914.53, down 503.75 points (1.91 per cent) while the S&P BSE SmallCap settled at 28,878.73, down 683.87 points (2.31 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:

16:11 (IST)20 Oct 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Wednesday's market performance

"The ongoing market correction is not an overreaction and can sustain in the near-term due to high valuations. However, in the future Indian corporates will benefit from the reforms & China plus one strategy which happened during 2020-21. Alongside, the long-term economy & market trend is intact due to further re-opening of the economy, low-interest cycle and fiscal & private spending. This correction will give leeway for value-buying, defensives and upcoming stocks & sectors that evolved from this new demand"

15:38 (IST)20 Oct 2021
Equity markets at close

The S&P BSE Sensex ended at 61,259.96, down 456.09 points or 0.74 per cent, while the Nifty 50 settled at 18,266.60, down 152.15 points or 0.83 per cent.

15:24 (IST)20 Oct 2021
Copper futures decline amid muted demand

Copper futures on Wednesday slipped 1.28 per cent to Rs 782 per kg, as participants reduced their positions amid muted demand in domestic market.

On the Multi Commodity Exchange, copper contracts for October delivery eased by Rs 10.15, or 1.28 per cent, to Rs 782 per kg in a business turnover of 3,898 lots.

Analysts said trimming of positions by speculators due to muted demand in spot market mainly led to the fall in copper prices here.


15:23 (IST)20 Oct 2021
Gold futures gain on spot demand

Gold prices on Wednesday rose by Rs 102 to Rs 47,382 per 10 gram in futures trade as speculators created fresh positions amid firming spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 102, or 0.22 per cent, to Rs 47,382 per 10 gram in a business turnover of 11,644 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Gold prices traded 0.50 per cent higher at USD 1,779.40 per ounce in New York.


15:22 (IST)20 Oct 2021
Crude oil futures dip on weak spot demand

Crude oil prices on Wednesday fell by Rs 97 to Rs 6,131 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for November delivery dropped by Rs 97, or 1.56 per cent, to Rs 6,131 per barrel with a business volume of 5,281 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.

Globally, West Texas Intermediate crude oil was trading 0.84 per cent lower at USD 82.26 per barrel.

Meanwhile, Brent crude, the international benchmark fell 0.88 per cent to trade at USD 84.33 per barrel in New York.


11:17 (IST)20 Oct 2021
Rupee surges 26 paise against US dollar in early trade

The rupee appreciated 26 paise to 75.09 against the US dollar in opening trade on Wednesday, supported by lower crude prices and a weak American currency in the overseas markets.

However, subdued domestic equity market and foreign fund outflows capped gains of the local unit, traders said.

At the interbank foreign exchange, the domestic unit opened strong at 75.10 against the US dollar and further strengthened to 75.09, showing a sharp gain of 26 paise against the previous close.


11:16 (IST)20 Oct 2021
Petrol and diesel price hiked

After remaining steady for two consecutive days, petrol and diesel prices were hiked on Wednesday, October 20, 2021, hitting fresh record highs. In the national capital, the petrol and diesel prices each rose 35 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 106.19 a litre while diesel is selling at Rs 94.92. In the financial capital Mumbai, petrol price now stands at Rs 112.11 while diesel costs Rs 102.89, data available on Indian Oil Corporation’s website showed. Click here to read

10:34 (IST)20 Oct 2021
Investing forex reserves in equities can fetch higher returns: RBI report

Investment of India’s rising foreign exchange reserves in equity funds, especially index funds, can fetch higher returns as interest rates which have been on a declining trajectory over the last four decades in advanced economies, have touched their historic lows, a Reserve Bank of India (RBI) report has said.

“Investment in equities is considered to be risky, especially for a central bank, which is responsible for safeguarding the reserves. However, investment of a small portion of the reserves in an index fund has the potential to augment the return of the portfolio,” said an RBI report on ‘The low yield environment and Forex Reserves management’. Total forex reserves were $ 639.51 billion as on October 8, 2021. Investment in S&P 500 across various business cycles and financial booms and busts reveal that the CAGR return in 5 years, 10 years, 15 years, 20 years, 25 years and 30 years would have been 13.3 per cent, 11.1 per cent, 7.3 per cent, 5.4 per cent, 7.4 per cent and 8.5 per cent, respectively, it said. Click here to read

10:06 (IST)20 Oct 2021
Global market update

Asian shares advanced and U.S. long-dated bond yields edged up to a five-month high on Wednesday on rising optimism about the global economy and corporate earnings while the yen slipped to a four-year low on the dollar.

Japan's Nikkei rose 0.8% while MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3%, led by 0.9% gains in Australia.

In New York, the benchmark S&P 500 index gained 0.74% to finish just 0.4% below its early September record close while the CBOE market volatility index fell 0.6 point after earlier hitting 15.57, its lowest level since mid-August.


09:51 (IST)20 Oct 2021
Equity markets at open

Sensex slips 25.05 pts to 61,691 in opening session; Nifty inches 13.95 pts lower at 18,404.80.


On Tuesday, the topline equity indices snapped out of their seven-day winning streak and ended marginally lower after hitting fresh all-time highs in the intraday trade.

The S&P BSE Sensex fell 49.54 points (0.08 per cent) to end at 61,716.05 while the Nifty 50 cracked 58.30 points (0.32 per cent) to settle at 18,418.75.

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