BUSINESS
Closing Bell: Sensex plunges 610 pts, Nifty near 19,550; IT, FMCG stocks bleed the most
Benchmark indices struggled in trade on September 28. The market opened with minor gains but soon volatility seeped in, thanks to the expiry of the September F&O series today. Sharp selling ahead of the F&O expiry briefly pulled the Nifty below 19,500. All sectors struggled with losses, with information technology, banks -public and private, metals, pharma, FMCG, auto, energy and infra, all slumping 1-2%. Selloff was even more intense within the broader market.
BUSINESS
Mid-day Mood | Weak sentiment lingers, Nifty briefly breaks below 19,600; banks, auto under pressure
The spike in yields on US bonds, a surge in the dollar index, elevated Brent crude prices, subdued global cues, and relentless selling from FIIs are major factors hampering sentiment for local equities on September 27.
BUSINESS
Healthcare Global soars 5% on reports of CVC Capital looking to sell controlling stake
CVC Partners had acquired around 59 percent stake in Healthcare Global for Rs 1,100 crore back in 2020.
BUSINESS
Mid-day Mood | Autos, metals shine in subdued market amid spike in US bonds, weak Asian cues
Yields on US treasury bonds surged to a fresh 16-year peak overnight, tipping off a spike in the dollar index to a 10-month high of 106. Both these factors dampened sentiment for equities
BUSINESS
A golden goose gone: Why Glenmark Pharma’s investors are unhappy with Nirma deal
Glenmark Pharma has hived off a 75 percent stake in Glenmark Life Sciences, which accounted for nearly 11 percent of its consolidated top line, and had a 20 percent EBITDA contribution, to clear debt
BUSINESS
Mid-day Mood | Caution keeps investors on sidelines, Bajaj Finance shines in lacklustre market
Persisting headwinds like rising crude prices, a spike in bond yields, and subdued global cues kept investors on the sidelines.
BUSINESS
JPMorgan’s India bond inclusion to bolster rupee, equities, but not just yet
While JP Morgan's decision to add Indian bonds to its bond index is seen as a clear positive for the debt market, having the potential to increase foreign inflows, stabilise the depreciating rupee and showcase the country's resilient macroeconomic standing, will it have a positive impact on domestic equities? Analysts say it will, but only in the long-term.
BUSINESS
Closing Bell: Indices end lower for 4th session; Nifty settles below 19,700
Benchmark indices failed to sustain gains on September 22 and ended lower for the fourth session in a row. Trade remained volatile as the market seesawed between gains and losses. By the day's end, PSU banks and automobiles managed to sustain early gains while information technology, metals and pharma remained under pressure.
BUSINESS
F&O Manual | Bears take over as Nifty breaks 19,800, support at 19,750
Options data suggests bears have a strong hold over the market, with call writers being active at 19,800 followed by 19,750 strikes
BUSINESS
Closing Bell: Sensex tanks 570 pts, Nifty below 19,750 pts in broad-based selloff
Sensex Today: The market witnessed strong selling for the third straight session on September 21, with all sectors ending with losses. The Nifty and Sensex lost around a percent, with the Nifty falling below the 19,750-mark. Banks- public and private, auto and pharma were the worst hit sectoral indices.
BUSINESS
Mid-day Mood: Indices under pressure as caution prevails before FOMC outcome
The slump in shares of RIL and HDFC Bank collectively contributed around 140 points to the Nifty 50's near 175-point decline.
BUSINESS
F&O Manual | Nifty trades lower as traders go cautious ahead of FOMC meet
Following weak global cues, domestic benchmarks also took a breather from their bull run. Analysts expect a lacklustre trend to continue in the truncated week, with resistances at 20,200 and 20,300.
BUSINESS
Moderation continues: Indian pharma market grows in mid-single digit in August
The moderate pace may upset expectations of an 8-15 percent sales growth for FY24, according to some analysts
BUSINESS
Upbeat global cues push indices to fresh record highs, Nifty tops 20,200
Indian benchmarks have been on an uptrend, scaling newer all-time highs through the week.
BUSINESS
Rising chemicals prices not a good reason to buy specialty chemicals stocks now: Analysts
Brokerage say it is wrong to interpret the rise in chemical stock prices as an indication of recovering demand. They say the spike in chemicals prices has stretched valuations even more for most stocks within the sector.
BUSINESS
Mid-day Mood | Indices off record highs but Nifty sustains above 20,000
Investors shrugged jitters from the slightly higher-than-expected US CPI figures for August as they believe it is unlikely to have a bearing on the FOMC's decision next week.
BUSINESS
Mid-day Mood | Indices trade in narrow range as market awaits US inflation print
Factoring in the stellar run in recent weeks, analysts also expect the market to take a breather.
BUSINESS
Battle for Cipla: Torrent, Dr Reddy's face off, but debt concerns loom
Analysts see synergies for both Torrent and Dr Reddy's with Cipla, driven by rationalisation of costs, but also warn that the merger could significantly raise debt levels for the pharma companies.
BUSINESS
Mid-day Mood | Market sees erratic swings as Nifty retreats from record high on profit-booking
Nifty 50's move beyond the 20,000-mark triggered bouts of profit booking, resulting in the erratic moves seen on September 12.
BUSINESS
Nifty 50 scales fresh record highs; tops 20k-mark as investors shrug off global jitters on strong macros
The Sensex and Nifty 50 gained over 2 percent last week. The gains came despite a spike in crude prices, a rise in the dollar index, a surge in yields on the US 10-year bonds, and continuous selling by FIIs.
BUSINESS
Mid-day Mood | Recovery in metal, FMCG names push Nifty above 19,800; power and capital goods shine
The market has been on an uptrend in the past five sessions, trying to gain back lost territory after a subdued performance through August.
BUSINESS
Will market feel pressure as crude oil cruises above $90?
Analysts feel that any ripples will be felt only if the rise in prices continues in coming weeks. Most of them expect no major corrections in the market in the near term, but recommend that investors pick up quality stocks in the event of a dip.
BUSINESS
F&O Manual | Nifty holds on to gains but upside seems capped, resistance at 19,800
Call as well as put writers were active at the 19,800 strike price options, which suggests that level will remain pivotal today
BUSINESS
Mid-day Mood | Market listless as firm dollar, higher crude prices weigh on sentiment
The trend is aligned with the weakness seen across global markets as a stronger dollar, a spike in crude price over supply concerns and economic uncertainty refuel risk-off sentiment
