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Sunday, October 17, 2021

Market Highlights: Sensex crashes 555 points, Nifty ends below 17,650; Metals, pharma, realty crack

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,189.73, down 555.15 points (0.93 per cent), while the Nifty 50 settled at 17,646.00, down 176.30 points (0.99 per cent).

By: Express Web Desk | New Delhi |
Updated: October 6, 2021 5:48:40 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) reversed their morning gains and ended nearly 1 per cent lower on Wednesday amid a last-hour cross-sector selloff.

The S&P BSE Sensex crashed 555.15 points (0.93 per cent) to end at 59,189.73 while the Nifty 50 slipped 176.30 points (0.99 per cent) to settle at 17,646.00. Both the indices had opened higher earlier in the day and traded in the positive territory throughout the morning session before erasing their gains and slipping into the red towards the afternoon.

On the BSE benchmark, IndusInd Bank was the top loser of the day followed by Tata Steel, Bajaj Auto, HCL Technologies, Sun Pharmaceutical Industries, Reliance Industries (RIL), Titan Company, Tech Mahindra, State Bank of India (SBI) and ITC. On the other hand only HDFC Bank was a credible gainer with over a 1 per cent rise.

Among the sectoral indices on NSE, the Nifty Metal index crashed 2.98 per cent dragged by National Aluminium Company, Vedanta and Hindalco Industries. Apart from this, Nifty Pharma index fell 1.87 per cent weighed by Abbott India and Gland Pharma. The Nifty Realty too slipped 1.62 per cent due to a fall in Indiabulls Real Estate and Prestige Estates Projects.

In the broader market, the S&P BSE MidCap ended at 25,374.16, down 314.51 points (1.22 per cent) while the S&P BSE SmallCap settled at 28,693.00, down 158.62 points (0.55 per cent). The volatility index or India VIX rose 5.70 per cent to 17.3325.

(with inputs from agencies)

Live Blog

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

16:04 (IST)06 Oct 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Wednesday's market performance

"Weak global markets which resulted in profit booking in metals and IT stocks led domestic indices to trade in red, trimming its early gains. Spike in crude prices is spooking the Indian market while inflation is affecting US bond yields. RBI commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged, however, it is likely to announce measures to gradually pump out liquidity from the economy."

15:58 (IST)06 Oct 2021
Rupee plummets 54 paise to close at 74.98 against US dollar

The rupee tumbled 54 paise to close at 74.98 (provisional) against the US dollar on Wednesday as a stronger greenback against key rivals and rising crude oil prices weighed on investor sentiment.

At the interbank foreign exchange market, the local currency opened at 74.63 and witnessed an intra-day high of 74.54 and a low of 74.99 against the US dollar in day trade.

The local unit finally settled at 74.98 a dollar, down 54 paise over its previous close. On Tuesday, the rupee had settled at 74.44 against the US dollar.


15:35 (IST)06 Oct 2021
Equity markets at close

The S&P BSE Sensex ended at 59,189.73, down 555.15 points or 0.93 per cent, while the Nifty 50 settled at 17,646.00, down 176.30 points or 0.99 per cent.

14:50 (IST)06 Oct 2021
Crude oil futures rise on spot demand

Crude oil prices rose by Rs 32 to Rs 5,927 per barrel in futures trade on Wednesday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the October delivery traded higher by Rs 32, or 0.54 per cent, at Rs 5,927 per barrel in 10,185 lots.

Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.

Globally, West Texas Intermediate crude oil was up 0.43 per cent to USD 79.27 per barrel, while Brent crude traded 0.45 per cent higher at USD 82.93 per barrel in New York.


14:49 (IST)06 Oct 2021
Silver futures ease on low demand

Amid profit-booking by speculators and weak global cues, silver prices dropped by Rs 258 to Rs 60,728 per kg in futures trade on Wednesday.

Silver for delivery in December was trading lower by Rs 258 or 0.42 per cent to Rs 60,728 per kg in a business turnover of 11,539 lots at the Multi Commodity Exchange (MCX).

In the international market, silver prices traded 0.72 per cent down at USD 22.45 an ounce in New York.

Market analysts said the fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels and weak global cues.


14:48 (IST)06 Oct 2021
Gold futures slip Rs 126 to Rs 46,631/10 gm

Gold prices on Wednesday fell by Rs 126 to Rs 46,631 per 10 gram in futures trade as participants cut down their bets amid a weak trend in global markets.

On the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 126, or 0.27 per cent, to Rs 46,631 per 10 gram in a business turnover of 13,309 lots.

Analysts attributed the fall in prices to trimming of positions by investors tracking a weak trend in global markets.

Globally, gold was trading 0.54 per cent lower at USD 1,751.4 an ounce in New York.


13:50 (IST)06 Oct 2021
RBI to hold rates, guidance on liquidity crucial: Poll

India’s monetary policy committee is widely expected to keep the repo rate unchanged to support recovering growth on Friday, but some analysts have cited a slim chance of the Reserve Bank of India delivering a token increase in the reverse repo rate.

All 60 forecasters in a Reuters poll said they see no change in the repo rate on Oct. 8. and though price pressures have soared due to rising fuel prices the RBI is only expected to raise the repo rate in April-June 2022. Click here to read

11:48 (IST)06 Oct 2021
Risks receding: Moody’s upgrades India outlook from negative to stable

Highlighting that India’s downside risks from negative feedback between the real economy and the financial system are receding, ratings agency Moody’s Tuesday changed India’s sovereign rating outlook from ‘negative’ to ‘stable’, while affirming its foreign-currency and local-currency long-term issuer ratings at Baa3.

“With higher capital cushions and greater liquidity, banks and non-bank financial institutions pose much lesser risk to the sovereign than Moody’s previously anticipated. And while risks stemming from a high debt burden and weak debt affordability remain, Moody’s expects that the economic environment will allow for a gradual reduction of the general government fiscal deficit over the next few years, preventing further deterioration of the sovereign credit profile,” the credit rating agency said. Click here to read

11:16 (IST)06 Oct 2021
LPG price hiked by Rs 15 per cylinder

Cooking gas LPG price on Wednesday was hiked by Rs 15 per cylinder in line with a surge in international fuel prices.

Rates of both subsidised and non-subsidised LPG prices were hiked, oil company officials said.

Cooking gas now costs Rs 899.50 per cylinder in Delhi. Click here to read

10:57 (IST)06 Oct 2021
Aditya Birla Sun Life AMC IPO share allotment likely today: Here’s how to check

The initial public offering (IPO) of Aditya Birla Sun Life AMC was subscribed 5.25 times over the 2.78 crore shares that were on offer during the subscription period from September 29-October 1, 2021. The price band was fixed at Rs 695-712 per share.

Investors are now looking forward to the share allotment date of the Aditya Birla Sun Life AMC IPO. The company is expected to finalise the allotment by Wednesday, October 6, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Aditya Birla Sun Life AMC IPO, then here is how you can check the status of your allotment when it gets declared

10:56 (IST)06 Oct 2021
Rupee slumps 21 paise to 74.65 against US dollar in early trade

The Indian rupee depreciated 21 paise to 74.65 against the US dollar in opening trade on Wednesday, as rising crude prices and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened on a weak note at 74.63, then fell further to 74.65, registering a decline of 21 paise from the last close.

On Tuesday, the rupee had settled at 74.44 against the US dollar.


10:27 (IST)06 Oct 2021
Petrol and diesel prices hit fresh highs

Prices of petrol and diesel touched new record high marks after they were hiked for the second consecutive day across the country on Wednesday, October 6, 2021. In the national capital, the petrol price rose 30 paise while diesel inched up 35 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 102.94 a litre while diesel is selling at Rs 91.42. In the financial capital Mumbai, petrol price now stands at Rs 108.96 while diesel costs Rs 99.17, data available on Indian Oil Corporation’s website showed.

In Lucknow, the price of petrol touched the three-figure mark for the first time and hit Rs 100.01 a litre on Wednesday. Click here to read

09:49 (IST)06 Oct 2021
Global market update

Asian shares dropped on Wednesday, reversing early gains, as analysts said sky-high oil prices meant stocks were quick to react to any hint of bad news such as a rate hike by New Zealand's central bank.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%, while Japan's Nikkei lost 1.66%, having risen more than 1% in early trade.

There were falls in Hong Kong off 0.77%, Korea down 0.98% and Australia 0.8% lower, and  U.S. stock futures, the S&P 500 e-minis shed 0.45%.


09:39 (IST)06 Oct 2021
Equity markets at open

Sensex rises 131.76 pts to 59,876.64 in opening session; Nifty advances 46.75 pts to 17,869.05.


Tuesday, the frontline equity indices on the BSE and National Stock Exchange (NSE) had staged a sharp recovery after a poor start and ended 0.75 per cent higher led by gains in market heavyweight Reliance Industries (RIL) along with information technology (IT) and banking stocks.

The S&P BSE Sensex climbed 445.56 points (0.75 per cent) to end at 59,744.88 while the Nifty 50 settled at 17,822.30, up 131.05 points (0.74 per cent). Both the indices had opened in the negative territory tracking global cues but later swung into the green during the afternoon trade.

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