Trending Stories

Major Op To Dismantle "Lord Of Drugs" Haji Salim's Narcotics Empire

Major Op To Dismantle "Lord Of Drugs" Haji Salim's Narcotics Empire

After Biren Singh's House Attacked, Meitei Group Issues 24-Hour Ultimatum

After Biren Singh's House Attacked, Meitei Group Issues 24-Hour Ultimatum

10-Crore Lawsuit Over 3-Second Clip? What's Behind Nayanthara-Dhanush Spat

"We Ran Out Of Missiles": US Fighter Pilots Recall Iran's Attack On Israel

"Doesn't Matter If You Die": Bengaluru Man Slams Son Against Wall, Kills Him

Actor Kasthuri Shankar Arrested For Comments Against Telugu Community

Flares Land Near Netanyahu's Home, Month After Hezbollah Drone Attack

Brazil First Lady Uses F-Word For Elon Musk In Viral Video. He Responds

PM Modi Gets Grand Welcome In Nigeria With 'Vande Mataram' Chants

Google AI Chatbot Gemini Turns Rogue, Tells User To "Please Die"

View More Stories

This Article is From Dec 02, 2020

Sensex Closes 37 Points Lower Dragged By Financial Stocks

Stock Market LIVE Updates: Analysts awaited the RBI Governor-led Monetary Policy Committee's review statement due later this week for near-term cues.

Advertisement

India News Edited by Sandeep Singh (with inputs from agencies)

Updated : December 02, 2020 3:59 pm IST

Stock Market Today: Selling pressure in financial and IT stocks pulled the markets lower.

Domestic stock markets took breather on Wednesday after scaling record highs in the previous session, as losses in banking and financial services stocks outweighed gains in automobile and metal shares. The S&P BSE Sensex index slumped 485.47 points - or 1.09 per cent - to 44,169.97 at the weakest level recorded during the session, and the broader NSE Nifty 50 benchmark dropped to as low as 12,983.55, down 125.5 points - or 0.96 per cent - from its previous close. However, the markets recovered most of those losses by the end of the session. Analysts awaited the RBI Governor-led Monetary Policy Committee's review statement due later this week for near-term cues.

Both indices had gained more than 1 per cent on Tuesday, after a sharp rally in November on hopes for a coronavirus vaccine. (Stocks To Watch)

Here are highlights of Wednesday's trading session:

Dec 02, 2020 15:31 (IST)

Market LIVE Updates: Sensex Ends 37 Points Lower, Nifty Edges Higher to 13,114
The S&P BSE Sensex index closes 37.40 points - or 0.08 per cent - lower at 44,618.04 and the broader NSE Nifty 50 benchmark settled at 13,113.75, up 4.70 points - or 0.04 per cent - from its previous close.

Nifty Components

Top Gainers

GAIL: +4.88%

ONGC: +3.80%

Asian Paints: +3.76%

Coal India: +3.48%

Titan: +3.37%

Adani Ports: +3.23%

SBI Life: +3.06%

Top Losers

Bajaj Finance: -0.96%

Nestle: -1%

ICICI Bank: -1.16%

Shree Cement: -1.24%

HDFC: -1.43%

HDFC Bank: -1.95%

Kotak Mahindra Bank: -3.35%

Dec 02, 2020 15:27 (IST)

Market LIVE: Technical Factors Aligned To Support Range-Bound Movement Ahead, Says Investment Advisor Ashis Biswas

"The market manages to hold above the Nifty 50 index support zone of 13,050. Our research suggests that the technical factors are aligned to support a range-bound market movement going forward. Therefore, it is advised that the short-term traders should use the rally to exit while attempting to buy on dip approach to adopt," said Ashis Biswas, head of technical research at CapitalVia Global Research.

"(Expect) market breadth to deteriorate, indicating the likelihood of higher volatility in the market. Any corrective wave down should find buying interest around 12,910-12,920," he added.

Dec 02, 2020 15:23 (IST)

Market LIVE Updates: HDFC Bank, HDFC, Kotak Mahindra Bank Top Drags On Sensex

HDFC Bank, Kotak Mahindra Bank and HDFC were the biggest drags on Sensex, whereas Asian Paints, Tata Consultancy Services and Titan were the largest supports.

Sensex Contribution (In Points)

HDFC Bank: -103.24

Kotak Mahindra Bank: -73.81

HDFC: -49.97

ICICI Bank: -37.96

Bajaj Finance: -10.98

Nestle: -5.63

SBI: -4.58

L&T: -2.43

IndusInd Bank: -0.03

M&M: 14.92

Infosys: 16.1

Titan: 16.23

TCS: 18.37

Asian Paints: 34.46

Dec 02, 2020 15:22 (IST)

Stock Market LIVE: Broader Markets Outperform Sensex

Shares in the mid-cap and small-cap segments outperformed the benchmark indices, with the S&P BSE MidCap and SmallCap indices up 0.58 per cent and 0.28 per cent respectively.

Segment-Wise Movement

S&P BSE Bharat 22 Index: +1.31%

S&P BSE SmallCap: +0.71%

S&P BSE MidCap: +0.58%

S&P BSE AllCap: +0.28%

S&P BSE 500: +0.27%

S&P BSE LargeCap: +0.16%

S&P BSE 100: +0.16%

S&P BSE SENSEX: -0.09%

Dec 02, 2020 15:12 (IST)

Market Live Updates: Bajaj Auto, M&M, Tata Motors, Maruti Lead Gains In Auto Space
The Nifty Auto index - which tracks 15 auto sector stocks - traded 1.16 per cent higher, having risen as much as 1.30 per cent earlier.

Nifty Auto Components

Bajaj Auto: 3.05%

M&M: 2.53%

Tata Motors: 2.11%

Maruti Suzuki: 1.46%

Bharat Forge: 1.38%

Ashok Leyland: 0.81%

Balkrishna Industries: 0.76%

Hero MotoCorp: 0.52%

Bosch: 0.50%

MRF: 0.25%

Eicher Motors: -0.04%

Exide: -0.19%

Amara Raja Batteries: -0.83%

Motherson Sumi: -2.23%

TVS Motor: -2.55%

Advertisement

Dec 02, 2020 15:02 (IST)

Market LIVE: RBI Expected To Continue With Low Rates, Says CapitalVia Global Research

The Reserve Bank of India might decide to continue with the status quo on benchmark rates, said Gaurav Garg, head of research at CapitalVia Global Research. "However, in my opinion, inflation figures might be at a higher level, but still the RBI would not consider this as a time to start reversing the policy of low interest rates as the GDP has been contracting for past two and as of now, growth is going to take priority over inflation," he added.

"Markets are also expecting the RBI to maintain the status quo and have discounted the fact that if RBI keeps the benchmark rates the same, it is going to be a non-event from the market perspective.... In order to bring the economy back on a positive growth trajectory, the RBI is expected to continue with the low rate regime for some more time before it decides to reverse its stance."

Dec 02, 2020 14:52 (IST)

Stock Market LIVE: Traders Remain Cautious After Sharp Rise In Benchmarks, Says Equity99 Advisors' Rahul Sharma

"A selloff in banking, financial services and IT shares dragged the market down and offset the gains in metal and auto stocks. Traders continue to remain cautious after the sharp rise in benchmark indices recently, and the RBI monetary policy ahead," said Rahul Sharma, market strategist and research head at Equity99 Advisors.

"Moreover, institutional investors continue to remain on the sidelines on market regulators' new guidelines on upfront margins. Elsewhere, the action continued in mid-cap stocks on value-based buying by high-net worth-investors," he added.

Dec 02, 2020 14:42 (IST)

Market LIVE Updates: Bankex Index Down Nearly 2%

The S&P BSE Bankex index - which tracks stocks of 10 major lenders - traded 1.73 per cent lower, and was the worst hit among the sectoral gauges on the bourse. The Bankex index was followed by the S&P BSE Finance and S&P BSE IT indices, down 1.39 per cent and 0.26 per cent respectively.

BSE Sector Watch

S&P BSE Bankex: -1.73%

S&P BSE Finance: -1.39%

S&P BSE Information Technology: -0.26%

S&P BSE Energy: -0.03%

S&P BSE Teck: -0.03%

S&P BSE Healthcare: 0%

S&P BSE Fast Moving Consumer Goods: +0.05%

S&P BSE Capital Goods: +0.06%

S&P BSE Power: +0.49%

S&P BSE Industrials: +0.68%

S&P BSE Basic Materials: +0.94%

S&P BSE Utilities: +0.97%

S&P BSE Auto: +1.07%

S&P BSE Consumer Discretionary Goods & Services: +1.19%

S&P BSE Oil & Gas: +1.28%

S&P BSE Telecom: +1.67%

S&P BSE Consumer Durables: +1.88%

S&P BSE Metal: +1.96%

S&P BSE Realty: +2.24%

Dec 02, 2020 14:32 (IST)

Market LIVE: Nifty Bank, Nifty Private Bank Down Nearly 2%; Nifty Realty Up Nearly 2%

Banking and financial services stocks, especially private sector lenders, continued to put pressure on the markets. On the other hand, automobile, metal and realty shares provided some support.

NSE Sector Watch

Nifty Bank: -1.87%

Nifty Private Bank: -1.85%

Nifty Financial Services: -1.73%

Nifty PSU Bank: -1.12%

Nifty IT: -0.34%

Nifty FMCG: -0.09%

Nifty Media: +0.03%

Nifty Pharma: +0.06%

Nifty Auto: +0.69%

Nifty Metal: +1.59%

Nifty Realty: +1.83%

Dec 02, 2020 14:22 (IST)

Stock Market LIVE: Market Weakness Reflects Vulnerability At High Levels, Says Geojit

"Weakness in the market reflects its vulnerability at high levels with high valuations. At these levels of valuations, corrections are desirable and make the market healthy," VK Vijayakumar, chief investment strategist, Geojit Financial Services, told NDTV.

"Steeper sustained corrections are unlikely since foreign institutional investor (FII) inflows continue to be robust. With the dollar index at around 91.23, more inflows into emerging markets are likely," he added.

Dec 02, 2020 14:11 (IST)

Market LIVE Updates: Tata Group Shares Jump On Report Conglomerate In Advanced Talks To Acquire BigBasket

Most Tata Group stocks jumped after news agency Bloomberg reported, citing a person familiar with the matter, that the conglomerate is in in a deal that is likely to value the local online grocer backed by Alibaba Group Holding at about $1.6 billion.

Tata Chemicals: +31.79%

Tata Power Company: +16.83%

Rallis India: +16.20%

Tata Steel BSL: +15.20%

Tata Elxsi: +6.14%

The Indian Hotels Company: +5.99%

Tata Investment Corporation: +5.94%

Tata Communications: +4.99%

Tata Consumer Products: +3.29%

Tata Coffee: +3.90%

Voltas: +3.02%

Tinplate Company Of India: +2.07%

Trent: -6.70%

Dec 02, 2020 14:01 (IST)

Market LIVE: Sensex Falls Over 350 Points, Nifty Slides Below 13,050
At 1:59 pm, the Sensex traded 366.78 points - or 0.82 per cent - lower at 44,288.66 while the Nifty was down 96.05 points - or 0.73 per cent - at 13,013.00. Selling pressure in banking, financial services and IT shares pulled the markets lower. However, buying interest in automobile and metal stocks arrested the fall.

Dec 02, 2020 13:52 (IST)

Stock Market LIVE: Reasonable Compared To Peers Says Motilal Oswal On Burger King IPO

Brokerage Motilal Oswal recommends investors to subscribe to the Burger King India IPO for listing gains. At the higher end of the price band, the Burger King India IPO is valued at 2.7 times its 2019-20 price/sales ratio and 8.3 times its price/book value ratio, which looks reasonable compared to its peers, Motilal Oswal said in a note.

Considering Burger King India's strong brand positioning, robust store expansion plans and bright growth prospects of the quick-service restaurant industry in the country, Motilal Oswal said it expects the company's financials to improve going ahead.

Dec 02, 2020 13:49 (IST)

NALCO Rises Over 2% On Heavy Volumes

Shares of National Aluminium Company rose 2 per cent to Rs 41 on the back of heavy volumes.

As many as 55 lakh shares changed hands on the BSE compared with an average of 13 lakh shares traded daily in the past two weeks.

Dec 02, 2020 13:41 (IST)

Market LIVE: Sensex, Nifty Extend Losses

The Sensex and Nifty extended declines in afternoon trading led by losses in HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Infosys. The Sensex fell 396 points to 44,259 and Nifty was down 103 points at 13,005.

Top Nifty losers:

Kotak Mahindra Bank down 2.52%
Shree Cements down 2.08%
HDFC Bank down 2.04%
HDFC down 1.78%
ICICI Bank down 1.76%

Dec 02, 2020 13:21 (IST)

Market LIVE: Auto Sales Miss Expectations In November, Says Nirmal Bang

Automobile sales continued growth momentum in November amid a rise in preference for personal mobility on the back of good festive demand, the upcoming wedding season and a soft base, Nirmal Bang said in a note.

As highlighted earlier, PV dealers faced stock shortages due to lower dispatches even as retail enquiries and bookings remained strong, the brokerage added.

Dec 02, 2020 13:19 (IST)

Coal India Gains Over 1% On Rise In Production

Coal India shares gained more than 1 per cent on the BSE after the state-owned company reported a 3.4 per cent rise in production at 51.7 million tonnes (MT) in November. The company had posted an output of 50 MT in the corresponding month of the previous fiscal, Coal India said in a regulatory filing to BSE. The shares of Coal India touched an intra-day high of Rs 128.30, up 1.5 per cent in early trading on the back of the news development. At 10:15 am, the shares of Coal India were trading at Rs 127.30, up 0.75 per cent on the BSE.

Dec 02, 2020 13:10 (IST)

Dr Reddy's Labs Commences Clinical Trials Of Sputnik V Vaccine; Stock Gains 1%

Dr Reddy's Labs has commenced clinical trials of Sputnik V vaccine in India in collaboration with Russian Direct Investment Fund (RDIF). In September 2020, Dr. Reddy's and RDIF had entered into a partnership to conduct clinical trials of the Sputnik V vaccine and the rights for distribution of the first 100 million doses in India.

"Dr Reddy's Laboratories and Russian Direct Investment Fund (RDIF) announced today that they have commenced adaptive phase 2/3 clinical trials for Sputnik V vaccine in India after receiving the necessary clearance from the Central Drugs Laboratory, Kasauli, India," Dr Reddy's Lab said in a regulatory filing to the sock exchanges on December 1.

Dec 02, 2020 13:04 (IST)

Bharti Infratel Spurts On Heavy Volumes

Shares of Bharti Infratel were trading 1.64 per cent higher at Rs 219 on the back of heavy trading volumes.

Over 8 crore shares changed hands on the BSE compared with an average of 8.76 lakh shares traded daily in the past two weeks.

Dec 02, 2020 12:51 (IST)

Market LIVE: Metal Shares Witness Buying Interest; Hindustan Copper Jumps Over 5%

Metal stocks were witnessing buying interest in an otherwise subdued session. The Nifty Metal index rose over 2 per cent.

Top gainers in metal space:

Hindustan Copper up 5.85%
NALCO up 5.41%
Jindal Steel up 4.58%
SAIL up 4.52%
NMDC up 4.33%
Tata Steel up 2.91%

Advertisement

MORE

Next