Share Market Updates: Sensex, Nifty Fall For Second Day On Losses In Bank, Metal Stocks
Domestic share markets inched lower for a second straight session on Tuesday, pulled down by banking and metal stocks, as rising coronavirus cases globally soured appetite for equities. The NSE Nifty 50 index fell 0.26 per cent to 11,738.85 by 9;30 am, while the S&P BSE Sensex was down 0.3 per cent at 40,016.82.
Sentiment was weak across Asia as concerns grew over a second wave of virus infections in the United States and Europe, sending MSCI's gauge of Asia-Pacific stocks outside Japan down 0.43 per cent.
The Nifty Banking index was down about 0.2 per cent, with IndusInd Bank falling 3.35 per cent.
ICICI Bank declined 2.5 per cent, while the country's largest lender State Bank of India dropped 2.08 per cent.
The Nifty metals index came down 0.89 per cent.
However, Kotak Mahindra Bank rose 5.6 per cent after the private sector lender beat expectations for September-quarter profit on Monday.
Telecom operator Bharti Airtel and automaker Tata Motors are scheduled to report earnings later in the day. Their shares were down about 0.3 per cent each in early trading.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
