Closing Bell
India's equity markets witnessed their biggest single-day drop in seven months as a new strain of Covid-19 in parts of the United Kingdom dampened investor sentiment.
The S&P BSE Sensex ended 3% or over 1,400 points lower at 45,553. However, it managed to end 600 points higher than the lowest point of the day. The NSE Nifty 50 index too ended 3.1% lower, declining over 400 points to end at 13,328. The index managed to end 200 points higher from its day's low of 13,131.
All the constituents of the 50-stock gauge ended with losses. Tata Motors (down 9.5%) and PSUs like ONGC (down 9.4%), GAIL (down 8.4%), Indian Oil (down 7.4%) and BPCL (down 6.2%) were among the top laggards in today's session.
Both the benchmark indices witnessed a heavy correction after gaining for seven weeks in a row.
All sectoral indices ended lower. The losses were led by the PSU Bank index which fell over 7% and by the Media index which declined over 6.5%. The Metal index too fell 6% in today's session. The Nifty I.T. and Nifty Pharma indices, which were outperforming the indices through most parts of the trading day too gave up gains to decline 2% and 4% respectively.
Other indices like the Realty index fell over 5% while the Auto index too saw declines of a similar quantum.
Broader markets underperformed the benchmarks in today's session. Both Nifty Midcap and Nifty Smallcap index fell over 5%.
India Volatility Index ended 27% higher to close above the mark of 20 for the first time in 13 trading sessions. The gauge ended at 23.65.
1,687 stocks on the NSE ended with losses while 254 managed to buck the trend and close with gains.
How Did The Sectoral Indices Fare
IPO Fully Subscribed
All Constituents Of The Nifty Index Decline
Metal Index Falls Most Since May
How Are The Sectoral Indices Faring
PSU Bank Index Falls Most Since May
Markets At 2:10 P.M.
- Benchmark indices volatile; trading near the day's low
- Nifty down 1.2% at 13,592
- Sensex down 1.1% at 46,463
- Nifty Bank down 2.1% at 30,064
- Nifty Midcap index down 2.5%
- Nifty Smallcap index down 2.2%
- India Volatility Index up 8.9% to 20.27
- Nifty Media and Nifty PSU Bank index are the top sectoral laggards; down 3.8% each
- Nifty Metal is the other major sectoral laggard; down 3.1%
- Nifty Auto down 2.5% while Nifty Realty down 2%
- Nifty FMCG and Nifty Pharma down 1% each
- Cipla remains the top Nifty gainer; up 0.8%
- ONGC is the top Nifty laggard; down 6.5%
- 45 out of the 50 Nifty constituents decline
- 1,493 stocks on the NSE decline while 413 trade with gains
Active Stock Options
- Reliance Industries' 2,050 Call: Premium up 4.7% to Rs 31.15. The contract has added 22.5 lakh shares in Open Interest.
- Larsen & Toubro's 1,300 Call: Premium down 9.2% to Rs 22.75. The contract has added 2 lakh shares in Open Interest.
- Sun Pharma's 600 Call: Premium up 25% to Rs 8.75. The contract has added 5.4 lakh shares in Open Interest.
In Focus: Iron Ore Prices
Buzzing Stock: Ambuja Cements
- Among worst performers on the Nifty 500 index
- Declines as much as 5.1% to Rs 238.3
- Trading at the lowest level in over two months
- Has declined in three out of the last four trading sessions
- Today's volumes are 27% higher than its 20-day average
- Falls towards 100-Day Moving Average of 236.1
- Stock heading towards oversold territory with Relative Strength Index (RSI) at 36
- 32 out of the 42 analysts tracking the stock have a buy recommendation; 2 sell calls
- Return potential of the stock as per Bloomberg data is 14.1%
In Focus: Godrej Consumer
Auto Stocks Drag
In Focus: Honda
Markets At Noon
- Benchmark indices continue to fluctuate between gains and losses
- Nifty down 20 points at 13,739
- Sensex down 30 points at 46,928
- Nifty Bank down 0.9% at 30,451
- Nifty Midcap index down 0.5%
- Nifty Smallcap index unchanged
- India Volatility Index up 4.6% to 19.5
- Nifty Auto is the top sectoral laggard; down 1.1%
- Nifty Metal Index along with the PSU Bank index down over 0.7%
- Nifty I.T. index bucks the trend; up 0.8%
- Nifty Pharma up 0.5% while Nifty Realty up 0.3%
- Cipla is the top Nifty gainer; up 2.3%
- Mahindra & Mahindra is the top Nifty laggard; down 3.1%
- 1,013 stocks on the NSE decline while 835 are bucking the trend
In Focus: L&T Tech Twins
In Focus: Future-RIL Deal
Nifty Bank Down Over 200 Points
In Focus: Bharti Airtel
Nifty Outlook For 2021
Markets At 10:10 A.M.
- Benchmark indices pare losses to trade little changed
- Nifty down 18 points at 13,742
- Sensex down 30 points at 46,932
- Nifty Bank down 1% at 30,412
- Nifty Micap index down 0.5%
- Nifty Smallcap index little changed
- India Volatility Index up 5.1% to 19.6
- Nifty PSU Bank, Nifty Auto are the other major sectoral laggards; down 1% each
- Nifty Pharma index up 0.7% while Nifty I.T. index gains 0.4%
- Larsen & Toubro is the top Nifty gainer; up 3%
- Tata Motors is the top Nifty laggard; down 2.5%
- 37 out of the 50 index constituents trade with losses
- 835 stocks on the NSE trade with gains while 938 stocks decline
IPO Opens Today
In Focus: Mahindra & Mahindra
Opening Bell
Indian equity markets opened the truncated week with modest losses after seven straight week of gains.
The S&P BSE Sensex opened 28 points lower at 46,932 while the NSE Nifty 50 index opened 18 points lower at 13,741.
Among the sectoral indices, the PSU Bank index has opened 1.3% lower and is the top laggard. The Nifty Metal index too is down 0.9% at the start of trade.
Other indices like the Nifty Bank and Nifty Auto are down 0.4% while the Realty index is trading with losses of 0.6%.
Broader markets too have opened little changed in today's session. The Midcap index is trading 0.3% lower while the Smallcap index is unchanged.
780 stocks on the NSE have opened with gains while 743 are trading with losses.
Current Market Update
Start Of A Truncated Week
Good Morning!
Indian equity indices gained for seven straight weeks, their longest such run since April 2019.
But as the benchmarks enter a week curtailed by the Christmas holiday, futures are indicating a negative bias at the opening of the trade. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 13,730 as of 7:55 a.m. on Monday.
Several companies, including Reliance Industries Ltd., will be in focus today. Colgate-Palmolive (India) Ltd. and Godrej Consumer Products Ltd. may react to their analyst day commentary. The Rs 300-crore initial public offering of Antony Waste Handling Cell will also open for subscription.
Steel Authority of India Ltd. has entered the F&O ban, along with Canara Bank, Punjab National Bank and Sun TV.
Globally, Asian markets are trading with losses this morning with benchmarks in Japan and Australia drifting lower. Futures on the Dow Jones are little changed. The index fell 0.4% on Friday.
West Texas Intermediate crude fell 2.6% to $47.81 per barrel, while gold was up 1% to $1,897.67/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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