Equity benchmarks buckled under selling pressure for the third session on the trot on Thursday as bearish global cues and a disappointing market debut for Paytm unnerved investors. The 30-share BSE Sensex tumbled 372.32 points or 0.62 per cent to finish at 59,636.01. Similarly, the NSE Nifty dived 133.85 points or 0.75 per cent to 17,764.80. M&M was the top loser in the Sensex pack, shedding 3.28 per cent, followed by Tech Mahindra, HCL Tech, L&T, Tata Steel, IndusInd Bank and Maruti. Only six index constituents managed to close in the green -- SBI, PowerGrid, HDFC Bank, Reliance Industries, ICICI Bank and HUL, climbing up to 1.16 per cent. In the broader market, One97 Communications Ltd, Paytm's parent company, crashed around 27 per cent in its market debut on Thursday. Paytm's Rs 18,300-crore IPO, the country's largest initial share sale, was subscribed 1.89 times last week. "Weak listing of India's largest IPO and soft global market amid rising inflation woes impacted ...
Benchmark indices shed about 0.6%; RIL, SBI drop by over 2% each
TCS rose by 0.83 per cent, while Infosys inched up 0.31 per cent
Gains led by IT, energy and realty stocks support positive sentiment
The consumer sector P/E of 43.9x in October is at a premium of about 17.6 per cent to its 10-year average of 37.4x
The BSE Midcap and Smallcap indices also gained 0.7 per cent and 1.4 per cent, respectively. Auto and capital goods shares were the prominent gainers
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Shares of FSN E-Commerce Ventures, company that operates Nykaa beauty stores, are trading at a premium of over 50 per cent in the grey market ahead of its Rs 5,352-crore IPO
Nifty has outperformed MSCI APAC index for 21 of the 26 weeks since May
The Nifty FMCG average valuations are 36 times, while its top six rivals are trading at an average of just over 50 times
The brokerage has an 'underweight' stance on India along with Taiwan and Australia (just downgraded from neutral)
Another near-term trigger for the stock would be the September quarter performance
The strong numbers posted by Infosys, Wipro, and Mindtree dissipated worries that arose after TCS's results
Equity benchmark Sensex rallied over 350 points in opening trade on Thursday to cross the 61,000-mark for the first time, driven by gains in index heavyweights Infosys, HDFC Bank and Reliance Industries amid a positive trend in global markets. After touching a record of 61,159.48 in the opening session, the 30-share Sensex was trading 356.73 points or 0.59 per cent higher at 61,093.78. Similarly, the Nifty surged 119.75 points or 0.66 per cent to a new intra-day record of 18,281.50. L&T was the top gainer in the Sensex pack, rising around 2 per cent, followed by Infosys, SBI, NTPC, HDFC Bank, Maruti, ITC and Titan. On the other hand, HCL Tech, TCS, M&M, IndusInd Bank and Bajaj Finance were among the laggards. In the previous session, the 30-share index settled 452.74 points or 0.75 per cent higher at 60,737.05, taking its winning run to the fifth consecutive day, and Nifty rallied 169.80 points or 0.94 per cent to 18,161.75. Foreign institutional investors (FIIs) were net ...
HCL Tech, Tech Mahindra, UltraTech Cement, TCS and Sun Pharma were among the laggards
Investors were rattled the past few weeks due to prospects of higher inflation and reduced stimulus. A likely deal between US lawmakers to boost US debt limit into December calmed nerves
FPIs sold shares worth Rs 803 crore on Wednesday, taking their two-day selling tally past the Rs 2,000-crore mark
IndusInd Bank emerged as the biggest gainer among the 30-share companies pack
Stock market LIVE: All sectoral indices ended in the red with capital goods, IT, metal, pharma, auto, realty and PSU Bank indices falling in the 1-3 per cent range