June 18, 2024

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Sensex Today | Why Stock Market is down today?: Stock Market LIVE Updates: Sensex flat amid buying in banks, metals and pharma stocks; India VIX surges 4%

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Indian equities continue to be plagued by ever rising Covid caseload as traders believe lack of respite may hit growth and earnings. There is also a fear of harsher lockdown to curb the spread. The storm-like resurgence of Covid cases is impacting the economy as well as market sentiments. The localised lockdowns and severe restrictions on movements are sure to take a toll on the expected GDP growth for FY22, said an analyst. “There is selling pressure on the market on fears that virus led restrictions will now extend beyond the bigger cities and to smaller towns and states as cases continue to rise,” Siddharth Purohit, research analyst at SMC Global Securities said.

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Japanese shares jump after two-day declines, chip stocks advance

Japanese shares jumped on Thursday as investors scooped up chip-related and cyclical shares following a two-day decline across all sectors, with sentiment aided by an upbeat finish on Wall Street overnight. The main indexes gained the most in more than seven weeks, with the Nikkei share average jumping 2.38% to close at 29,188.17, while the broader Topix rose 1.82% to 1,922.50.

Nifty completes 25 years of existence

Launched on April 22, 1996, the National Stock Exchange’s (NSE) flagship index completed 25 years of its journey on Thursday, April 22. In between, three out of every four stocks have got thrown out of it.

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Nifty FMCG index down 1%

Price as on 22 Apr, 2021 11:57 AM, Click on company names for their live prices.

ICICI Securities shares jump over 6 pc after strong Q4 earnings

Shares of ICICI Securities jumped 6.5 per cent in morning trade on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021. The stock gained 6.51 per cent to Rs 451.80 on the BSE. At the NSE, it jumped 6.45 per cent to Rs 452.

L&T construction bags order from Oilfields Supply Company Saudi

L&T on Thursday said its construction arm has bagged up to Rs 2,500 crore order from Oilfields Supply Company Saudi to design and build an oil and gas supply base. The company did not provide value of the contracts but said the orders fall under “significant” category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts.

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Rupee slips below 75/USD level in early trade

The rupee opened on a weak note and fell below the 75 per US dollar level in early trade on Thursday as investors fretted over the prospects of stricter lockdown in some parts of the country amid a surge in COVID-19 cases. Moreover, foreign fund outflows, and heavy selling in domestic equities weighed on the domestic currency. At the interbank foreign exchange, the rupee opened at 75.25 then lost further ground and fell to 75.26 against the US dollar, showing a decline of 38 paise over its previous closing.

Eight stocks where retail holding surged in Q4 as MFs & FIIs sold

Even as the second wave of Covid-19 halted the market momentum from the middle of the March quarter, one set of companies saw retail investors buy into them heavily, latest shareholding data showed. At least 45 companies from an initial set of 700 stocks (BSE500, BSE Midcap and BSE Smallcap indices) saw retail holding rise by 200 basis points, or higher, during the March quarter. At least eight companies saw retail holdings spike by at least 500 basis points and up to 4,000 basis points!

Sunteck Realty’s sales bookings drop 16 pc in FY21 to Rs 1,022 cr amid COVID-19 crisis

Sunteck Realty Ltd on Wednesday reported 16 per cent decline in its sales bookings at Rs 1,022 crore during the last fiscal year. The company had clocked sales bookings of Rs 1,221 crore in the previous year. Sunteck achieved lower sales bookings in the first six months of the 2020-21 at Rs 301 crore. The second half of last fiscal contributed Rs 720 crore to the overall sales bookings number.

Top gainers and losers in the banking pack

Price as on 22 Apr, 2021 10:31 AM, Click on company names for their live prices.

Caplin Point Laboratories arm gets USFDA nod for Neostigmine Methylsulfate Injection

Caplin Point Laboratories on Thursday said its subsidiary has received approval from the US health regulator for Neostigmine Methylsulfate Injection. Neostigmine Methylsulfate Injection is a cholinesterase inhibitor and is indicated for the reversal of the effects of non-depolariSing neuromuscular blocking agents (NMBAs) after surgery.

Due to the Covid second wave impact, India has been an underperformer in April. But this has the potential to reverse when the Covid graph peaks & declines. There is safety in IT & pharma stocks which will do well irrespective of the disruptions.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

India VIX surges 2.5% to 22.9850

Indiabulls Housing soars 9% on entering strategic partnership with HDFC

Shares of Indiabulls Housing climbed 9 per cent in an otherwise weak trading session on Thursday after the housing finance company (HFC) entered into a strategic co-lending partnership with HDFC to offer housing loans to homebuyers at competitive rates.

Uncertainty has impacted sentiments and the sustained selling by FIIs in April is a reflection of this concern. Due to the Covid second wave impact, India has been an underperformer in April. But this has the potential to reverse when the Covid graph peaks and declines. There is safety in IT and pharma stocks which will do well irrespective of the disruptions.

– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

India’s ‘casino’ type midcap rally may be poised for a break

India’s ‘casino’ type midcap rally may be poised for a break

Dr Reddy’s, ONGC, Sun Pharma, Bajaj Auto among 7 gainers in Sensex universe

IndusInd Bank, UltraTech, Asian Paints, Tech Mahindra and Axis Bank were the worst hit among laggards on the 30-scrip benchmark index.

Dr Reddy's, ONGC, Sun Pharma, Bajaj Auto among 7 gainers in Sensex universe

OPENING BELL | Sensex tanks 450 points, Nifty50 tests 14,150

IndusInd, Axis Bank drop 2% each

Pre-open session: Sensex falls 200 points, Nifty tests 14,250

SGX Nifty signals gap-up start

Nifty futures on the Singapore Exchange traded 115.50 points, or 0.82 per cent, higher at 14,194.50 in signs that Dalal Street was headed for a positive start on Thursday.

Tech View: Analysts see weakness ahead

The Nifty bulls on Tuesday struggled at 14,500 level, even as they defended the crucial support of 14,200 well. The face saving-act, however, did not impress analysts, who believe the index could soon breach the 14,200 level and trigger more weakness.

Asian markets gain in early trade

Asian markets were traing mostly higher in Thursday’s trade. Japan’s Nikkei surged 1.83 per cent at 29,041, Hong Kong’s Hang Seng advanced 0.32 per cent; Korea’s Kospi was up 0.58 per cent while China’s Shanghai Composite index was flat.

Wall Street rebounds after two-day decline

Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc’s sell-off after its disappointing results a day earlier. The Nasdaq Composite added 1.19 per cent to 13,950.22. The Dow Jones Industrial Average rose 0.93 per cent to 34,137.31, while the S&P500 index gained 0.93 per cent at 4,173.42.

Rupee slips to 74.88 against dollar on Covid concerns

The rupee pared its initial gains to close marginally down by 1 paisa at 74.88 against the US dollar on Tuesday due to worries that the alarming surge in COVID-19 cases could derail the economic recovery in the country. An increase in crude oil prices and losses in the domestic equity markets also weighed on the local unit.

Sensex, Nifty on Tuesday

The National Stock Exchange (NSE) and the BSE remained closed on Wednesday on account of Ram Navami, the Hindu festival celebrated to mark the birth anniversary of Lord Rama. A day earlier, traders avoided carrying long positions and the BSE S&P Sensex closed 244 points or 0.51 per cent lower at 47,706. The Nifty 50 edged lower by 63 points or 0.44 per cent to 14,296.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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