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Wednesday, October 20, 2021

Market Highlights: Nifty ends September-series at 17,618, Sensex drops 287 points; Metals, banks, IT stocks fall

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,126.36, down 286.91 points (0.48 per cent), while the Nifty 50 settled at 17,618.15, down 93.15 points (0.53 per cent).

By: Express Web Desk | New Delhi |
Updated: September 30, 2021 5:11:53 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended lower for the third successive day, falling around 0.5 per cent lower on Thursday weighed by metals, information technology (IT) and certain banking stocks amid the expiry of September-series futures and options (F&O) contracts.

The S&P BSE Sensex fell 286.91 points (0.48 per cent) to settle at 59,126.36 while the Nifty 50 slipped 93.15 points (0.53 per cent) to end the September F&O series at 17,618.15.

Earlier in the day, both the indices had opened on a flat terrain and traded mostly in a narrow range throughout the morning before slipping towards the afternoon session of trdae. The BSE benchmark had crashed 393.99 points (0.66 per cent) to hit an intraday low of 59,019.28, while the broader Nifty had touched a low of 17,585.35, down 125.95 points (0.71 per cent).

On the Sensex pack, Power Grid Corporation of India, Asian Paints, Axis Bank, Bajaj Auto, State Bank of India (SBI) and Kotak Mahindra Bank were the top laggards of the day. On the other hand, Bajaj twins comprising of Bajaj Finserv and Bajaj Finance, along with NTPC, Sun Pharmaceutical Industries, Hindustan Unilever (HUL) and Titan Company were the biggest gainers.

Among sectoral indices, the Nifty Metal index fell 0.88 per cent due to Hindustan Zinc and Hindustan Copper. The Bank Nifty slipped 0.84 per cent dragged by Axis Bank, SBI and Kotak Mahindra Bank. The Nifty IT index too declined 0.72 per cent weighed by L&T Technology Services and MphasiS.

In the broader market, the S&P BSE MidCap index ended at 25,253.09, up 83.16 points (0.33 per cent) while the S&P BSE SmallCap settled at 28,081.74, up 155.20 points (0.56 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:

17:11 (IST)30 Sep 2021
Aditya Birla Sun Life AMC IPO update: End of Day 2

Aditya Birla Sun Life AMC IPO: At the end of Day 2, the Aditya Birla Sun Life AMC IPO stands fully subscribed. The issue has been subscribed 1.07 times.


Qualified Institutional Buyers (QIBs) subscribed 0.06 times

Non Institutional Investors subscribed 0.40 times

Retail Individual Investors (RIIs) subscribed 2.00 times

Shareholders subscribed 0.67 times

Total subscribed 1.07 times

Source: BSE

16:09 (IST)30 Sep 2021
MARKET QUOTE | Jateen Trivedi, Senior Research Analyst, LKP Securities on rupee's performance Thursday

"Rupee traded flat on back of range bound moves in US dollar near 93.00 Rupee was seen in range of 74.25 about after weak moves in the past few days. Crude prices staying range bound also kept flat moves in rupee near 74.25. Going ahead rupee can be seen in range of 74.15-74.50."

16:07 (IST)30 Sep 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Thursday's market performance

"Indian market opened on a flat note and slipped in the later half tracking weak global cues and fall in heavyweights. Worries over the US debt ceiling crisis and uptick in bond yield triggered further consolidation. The domestic market also got vigilant ahead the release of August’s core sector output data."

16:04 (IST)30 Sep 2021
Rupee falls for fifth straight session, settles 9 paise down at 74.23/$

The rupee declined by 9 paise to end at 74.23 (provisional) against the US currency on Thursday, marking its fifth straight session of fall, amid risk averse sentiments and foreign fund outflows.

At the interbank foreign exchange market, the rupee opened on a negative note at 74.28 per dollar as against its previous close of 74.14.

It hovered in the range of 74.18 to 74.36 per dollar during the day before ending at 74.23 against the American currency.

The domestic unit has lost 59 paise in the last five trading sessions.


15:33 (IST)30 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 59,126.36, down 286.91 points or 0.48 per cent, while the Nifty 50 settled at 17,618.15, down 93.15 points or 0.53 per cent.

15:26 (IST)30 Sep 2021
Crude oil futures rise on spot demand

Crude oil prices rose Rs 24 to Rs 5,600 per barrel on Thursday, 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 24, or 0.43 per cent, at Rs 5,600 per barrel in 8,679 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 0.56 per cent to USD 75.25 per barrel, while Brent crude traded 0.38 per cent higher at USD 78.94 per barrel in New York.


15:25 (IST)30 Sep 2021
Gold futures gain on spot demand

Gold prices on Thursday rose Rs 120 to Rs 45,889 per 10 grams in the futures trade, as speculators created fresh positions amid firming spot demand.

On the Multi Commodity Exchange, gold contracts for the December delivery traded higher by Rs 120, or 0.26 per cent, to Rs 45,889 per 10 grams in a business turnover of 1,652 lots.

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

Gold prices traded 0.58 per cent higher at USD 1,732.90 per ounce in New York.


15:24 (IST)30 Sep 2021
Copper futures fall on weak demand

Copper futures on Thursday slipped 0.36 per cent to Rs 708.15 per kg, as participants cut their positions amid muted demand in the domestic market.

On the Multi Commodity Exchange, copper contracts for the October delivery eased by Rs 2.55, or 0.36 per cent, to Rs 708.15 per kg in a business turnover of 2,805 lots.

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


13:41 (IST)30 Sep 2021
Petrol and diesel prices hiked

After remaining steady for a day, petrol and diesel prices were hiked on Thursday, September 30, 2021. In the national capital, the petrol price rose 25 paise while diesel inched up 30 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 101.64 a litre while diesel is selling at Rs 89.87. In the financial capital Mumbai, petrol price now stands at Rs 107.71 while diesel costs Rs 97.52, data available on Indian Oil Corporation’s website showed. Click here to read

11:06 (IST)30 Sep 2021
Rupee falls 22 paise to 74.36 against US dollar in early trade

The Indian rupee depreciated 22 paise to 74.36 against the US dollar in opening trade on Thursday, amid a muted trend in domestic equities.

At the interbank foreign exchange, the rupee opened on a weak note at 74.28, then fell further to 74.36 against the dollar, registering a decline of 22 paise from the last close.


11:04 (IST)30 Sep 2021
Indian Overseas Bank shares hit 20% upper circuit on being removed from RBI’s PCA framework

Shares of Indian Overseas Bank (IOB) hit a 20 per cent upper circuit in the early trade on Thursday a day after the Reserve Bank of India (RBI) removed the public sector lender from its PCA (prompt corrective action) framework.

The scrip jumped 20 per cent to Rs 24.60 per share on the BSE, while on the National Stock Exchange (NSE), it surged 19.80 per cent to Rs 24.50. Click here to read

10:09 (IST)30 Sep 2021
IOB out of PCA watchlist

The Reserve Bank of India (RBI) on Wednesday removed Indian Overseas Bank from the Prompt Corrective Action Framework.

IOB was placed under the PCA framework in 2015.

The Board for Financial Supervision, after review of IOB’s performance, on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter, the central bank said in a statement. The bank also provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis, it added. Click here to read

09:58 (IST)30 Sep 2021
Nifty PSU Bank up over 1.5 per cent

The Nifty PSU Bank index was trading over 1.5 per cent in the morning trade led by a sharp rally in the shares of Indian Overseas Bank (IOB) after the Reserve Bank of India (RBI) removed the lender from its PCA (prompt corrective action) framework.

Source: NSE
09:49 (IST)30 Sep 2021
Global market update

Asian shares found some calm on Thursday following this week's heavy China-driven losses although the dollar sat at a more than one-year high against major peers, upheld by lingering safe-haven demand and expectations for tighter U.S. monetary policy.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.06%, while the Nikkei lost 0.36% a day after Japan's ruling party chose softly spoken consensus-builder Fumio Kishida as its new leader and the country's new prime minister.


09:37 (IST)30 Sep 2021
Equity markets at open

Sensex slips 40.49 pts to 59,372.78 in opening session; Nifty declines 12 pts to 17,699.30.


Wednesday, the topline equity indices on the National Stock Exchange (NSE) and BSE had ended marginally lower after recovering from their intraday lows amid the weakness in global markets.

The S&P BSE Sensex fell 254.33 points (0.43 per cent) to settle at 59,413.27 while the Nifty 50 slipped 37.30 points (0.21 per cent) to end at 17,711.30. Earlier in the day, the BSE benchmark had crashed 556.19 points (0.93 per cent) to hit an intraday low of 59,111.41, while the broader Nifty had touched a low of 17,608.15, down 140.45 points (0.79 per cent).

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