Share Market Highlights: Sensex ends deep in red, nosedives 1406 points, Nifty closes at 13,328; ONGC tanks 9%

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Updated: December 21, 2020 4:58:08 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: After weeks of gains, Sensex and Nifty tanked on Monday to record their worst intraday fall since September.

Share Market Today, Share Market LiveBroader markets tanked to close deep in red.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices BSE Sensex and Nifty 50 closed deep in red, marking the end to their record breaking gaining streak. S&P BSE Sensex closed 1406 points lower at 45,553 while the 50-stock Nifty closed at 13328. None of the Sensex stocks closed with gains. The worst among the Sensex stocks was ONGC, down 9%, followed by IndusInd Bank, down 6.98%, and M&M, down 6.23%. Volatility surged 24.5% during the day to trade at 23.19 levels. Broader markets mirrored the fall. 

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    16:03 (IST)21 Dec 2020
    Low interest rates to keep markets flushed with liquidity; here’s what else is in store for 2021

    As the rollercoaster of a year - 2020 - comes to an end, we see ourselves at the peak of a bull market which nobody could have seen coming especially during the March lows. This sheer unpredictability of the capital markets makes it difficult for one to predict what lies ahead but subtle cues for sectors/themes that are poised to excel are there to be seen.

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    15:51 (IST)21 Dec 2020
    'Be greedy when others are fearful'

    On the global front, we got good news and bad news overnight – Good being that the democrats and republicans managed to finalize the latest stimulus package which will add $900bn to the US economy. The bad news is a new strain of the virus in the UK which appears to be more contagious than the existing one. Even so, the strain appears similar to the current one for which vaccine rollout is on at full speed. Therefore, the bad news seems to come with its own glimmer of hope. Nothing else has majorly changed. We continued to buy today, and will do so for the rest of the week. Today’s markets are therefore a could serve as an entry point for those waiting for a correction. As Warren Buffett says, “be greedy when others are fearful.” : Kanika Agarrwal, Co-founder and Chief Investment Officer, Upside AI

    15:38 (IST)21 Dec 2020
    Need to wait and watch over the next couple of sessions

    The Index has broken its support of 13500 which indicates a stop out on all long positions. We would now need to wait and watch the markets over the next couple of sessions. One should not take hasty and risky trades by going long or short on the markets. For the upside to resume, we would need to start trading above 13750-13800. In order to break on the downside, we should wait for a day or two and re-evaluate the markets. The strategy for the current market would be to sit on the sideline without a trade!: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    15:37 (IST)21 Dec 2020
    Market failed to show resilience to stay above 13750

    The market failed to show resilience to stay above the Nifty 50 Index level of 13750. While it is subject to further price action evolution, the technical factors are shifted after the sharp correction today to support a further correction in the future. Any corrective wave down should find support around 12990-12960. As such, we advise the traders to refrain from building a new buying position until we witness a correction till 12990-12960 level. It has observed volatility to expand in today’s trading session indicating profit booking and stock distribution at a higher market level: Ashis Biswas, Head of Technical at CapitalVia Global Research Limited

    15:35 (IST)21 Dec 2020
    Today's fall is merely profit booking ahead of new year

    According to Vishal Wagh, a host of factors led to a 1,800-point fall in the S&P BSE Sensex in the afternoon deals on Monday. In today's session, European stock markets opened with sharp cuts after the new strains of the coronavirus reported in UK. Following this, many European countries have temporarily banned flights from the UK. Apart from this, Wagh, added that this correction was overdue in the market and was trying to find a reason which now it has found. Today's fall, according to him, is merely profit booking ahead of the new year as there's a common saying 'Sell in December and go on holiday'.: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

    15:35 (IST)21 Dec 2020
    Closing bell: Sensex, Nifty record their worst intraday movement since September

    Sensex tanked 1406 points on Monday whule Nifty gave up 13,400. This marked the worst intraday movment for both the indices since September this year. 

    15:30 (IST)21 Dec 2020
    Indian share markets follow European stock markets

    Today's market fall is more due to global selling on increasing concerns of COVID virus in Europe, particularly Britain and new strains being identified: Aamar Deo Singh, Head, Advisory at Angel Broking.

    15:29 (IST)21 Dec 2020
    Midcap, Smallcap indices plummet

    BSE Midcap and Smallcap indices were down over 4% each just ahead of the closing bell on Monday. 

    15:25 (IST)21 Dec 2020
    Strong medium-term support at 13100-13500

    "The Nifty has corrected sharply which does not come as a surprise considering the jubilant rally up that we have seen over the last couple of months. A strong medium term support lies at 13100-13150 which should not be disrespected on a closing basis. Although we threatened this level today, the index bounced swiftly from those lows. If we break 13100 on a closing basis, we would attempt to fall further to 12800. On the upside, we need to get past 13800 in order to resume the uptrend. A wait and watch strategy is advised at the current juncture. Hasty trades can prove risky and we should give the markets few sessions to settle down before we can take a directional call," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    15:23 (IST)21 Dec 2020
    Sensex, Nifty headed for worst intra-day fall since October

    S&P BSE Sensed was down nearly 1,500 points just ahead of the closing bell while Nifty was over 400 points lower. Sensex and Nifty are headed towards their worst intrad-day performance since October.

    15:18 (IST)21 Dec 2020
    New support, resistance levels for Nifty50

    An overextended structure formed on the charts. Markets needed a reason for the correction which is found in Europe shutdown. 13000 should still act as sacrosanct support for the immediate short term and resistance at 13650 for Nifty 50 index: Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst, Gemstone Equity Research & Advisory Services

    15:11 (IST)21 Dec 2020
    Top drags on Sensex

    Amogn Sensex constituents, ONGC was the worst perofmer, down 9%. This was followed by Mahindra & Mahindra and IndusInd Bank, both down over 6% each.

    15:04 (IST)21 Dec 2020
    Financials bleed

    Among banks stocks, Federal Bank was down 9.3%, RBL Bank fell 8.8%, Bandhan Bank dived 8.6% and IndusInd Bank tanked 7.4%. All S&P BSE Bankex constituents were deep in red.

    15:02 (IST)21 Dec 2020
    Volatility jumps further

    The fear gauge of domestic markets, India VIX jumped further and was up 25% just ahead of the closing bell on Monday. 

    14:59 (IST)21 Dec 2020
    What triggered 1,800-pt fall in Sensex?

    As expected, FIIs seems on year-end holidays and DIIs continue to sell. Hence, no fresh buying which can absorb selling led probably to market fall. Also, fears of new covid strain added to the pressure: Narendra Solanki, Head of Research at Anand Rathi Shares and Stock Brokers

    14:58 (IST)21 Dec 2020
    What do the charts say?

    "Nifty now finds support at 12,800, from where we might see some upward movement again," Vishal Wagh, Head of Research, Bonanza Portfoliom told Financial Express Online. He did however caution that the certainity of that comeback at the said levels are not certain. The current selloff, accordign to Vishal Wagh, is merely prfit booking ahead of the new year. 

    14:48 (IST)21 Dec 2020
    Hunting for diamonds in the mud

    While domestic equity markets were deep in red, there were some bright spots on Dalal Street. Tasty Bite Eatbles was up 6.7%, Honeywell Automation was up 5.5%, IFCI Ltd was up 2.5%.

    14:44 (IST)21 Dec 2020
    India VIX surges 15%

    India VIX, the volatility index or the fear gauge of domestic equity markets was up 15% on Monday to trade at 21.5 levels. Nifty 50 was seen moving below 13,400 on Monday.

    14:41 (IST)21 Dec 2020
    Broader markets fall more than benchmarks

    S&P BSE Midcap index and the BSE Smallcap index were down over 4% and 5%, respectively. Meanwhile the benchmark Sesnesex was down over 2.5%.

    14:39 (IST)21 Dec 2020
    Bears trap

    It is bloodshed on Dalal Street with less than an hour left in today's trading session. IndiaBulls Real Estates dived over 10%, Tata Power tanked 9%, Federal Bank down 9%.

    14:36 (IST)21 Dec 2020
    Sensex in freefall?

    Sensex fell as low as 1800 points on Monday before mounting marginal comeback. Nifty 50 gave up 13,300. ONGC was down over 9%.

    14:26 (IST)21 Dec 2020
    Bears knock on Dalal Street doors

    Sensex was sitting deep in red on Monday mornign, after having tanked over 700 points so far during the day. Nifty 50 was nearing 13,500.

    14:11 (IST)21 Dec 2020
    Mrs Bectors Food IPO: Here’s how to check share allotment status via BSE, registrar’s website

    The Rs 540-crore Mrs Bectors Food Specialities initial public offer (IPO), which was subscribed a whopping 197.36 times, is likely to finalise the share allotment on Tuesday, December 22, 2020. With such a massive subscription, Mrs Bectors Food Specialities IPO became the most subscribed issue of 2020. According to an analyst, Mrs Bectors Food Specialities has the potential to provide decent listing gains and has also good prospects for the long term as well.

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    13:54 (IST)21 Dec 2020
    Sensex, Nifty deep in red

    Sensex was down over 400 points while the Nifty 50 moved nearing 13,600. ONGC and IndusInd Bank were the top drags. 

    13:51 (IST)21 Dec 2020
    Foreign investors continue to favour bank stocks in 2020, despite negative year-to-date returns

    A closer look at the investment made by foreign investors this year shows that banks have been their most preferred investment destinations, and despite the massive inflows, the sector’s returns are still negative.

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    13:44 (IST)21 Dec 2020
    Budget 2021: Government must earmark a budget to stop counterfeiting of COVID-19 vaccines

    Almost every person on this planet is eagerly waiting for COVID-19 vaccines and the wait is about to end as Prime Minister Narendra Modi recently said that a vaccine may be ready in a few weeks. But, as we are getting closer towards the vaccine, new crime trends have alarmed stakeholders globally. While the vaccine can save lives, a falsified vaccine will kill human beings as well as erode the public confidence in healthcare systems, healthcare professionals, and government agencies. Greater risk of harm to consumers will result in greater liability for healthcare providers.

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    13:21 (IST)21 Dec 2020
    Nifty's support lies at the 13500-13600 levels

    The Nifty is keeping above the crucial 13700 level. If we can continue doing that, the markets should be headed to 14000. A strong support lies at the 13500-13600 levels and as long as that holds, the trend of the index remains bullish and traders can utilise any dip to accumulate long positions: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    13:08 (IST)21 Dec 2020
    Bears coming back?

    S&P BSE Sensex was down more than 300 points as it gave up 46,700 while the Nifty 50 was below 13,700. 

    12:43 (IST)21 Dec 2020
    Antony Waste Handling Cell shares grey market premium surges 54%; should you expect listing gains?

    The Rs 300-crore Antony Waste Handling Cell initial public offer (IPO), which opened for subscription from today, has been subscribed 58 per cent in less than two hours. Antony Waste Handling Cell’s IPO will comprise fresh issue of shares aggregating to Rs 85 crore and an offer-for-sale (OFS) of up to 68.24 lakh equity shares worth Rs 215 crore. From the day of the price band announcement, Antony Waste Handling Cell Ltd share price has surged in the grey market.

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    11:40 (IST)21 Dec 2020
    Still in red

    Sensex was still in the red as the index moved lower once again after having jumped to trade with gains for a brief period during the day. Nifty was holding above 13,700.

    10:54 (IST)21 Dec 2020
    RIL share price gains 1.5% today after Reliance-BP start gas production from Asia’s deepest project

    Reliance Industries Ltd (RIL) share price gained 1.5 per cent to Rs 2,022 apiece in the morning deals on BSE today, taking the total market capitalisation to Rs 12.74 lakh crore. On Friday, after market hours, Mukesh Ambani-led Reliance Industries and BP announced the commencement of gas production from an ultra-deep-water gas field in block KG D6 R-Field of Krishna Godavari basin.

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    10:36 (IST)21 Dec 2020
    Gold, Silver may continue to trade with bullish bias as Covid-19, lockdowns keep risk premium high

    Commodity prices traded higher during the week passed by with most of the commodities in Non-Agri segment witnessing strong buying on weaker dollar on stimulus hopes. The dollar index fell by more than 1 percent to 90 mark for the week. Gold prices traded higher and ended positive for the week with spot gold prices at COMEX rallied by 2.39% to $1881 per ounce. Gold prices at MCX rose by 2% to Rs 50304 per 10 grams as stronger rupee capped upside during the week. 

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    10:11 (IST)21 Dec 2020
    Rupee seems to remain in tugged state as RBI continues with forex interventions

    Domestic risk appetite seems supported on vaccine optimism and decline domestic covid-19 count leading to lumpy FII inflows in the equity which has reached $7.5 billion so far in December. However, rupee seems to remain in a tugged state as RBI continues with its forex interventions even after the US Treasury Department put India on its ‘currency manipulator’ watch list. RBI may keep buying dollars to manage liquidity and prevent the rupee from losing export competitiveness. As the pair sustained above 73.40 levels and RBI remains prudent in buying, it seems that rupee shall move close to 73.80-74.00 levels. As long as the 73.40-74.00 range remains intact, the view remains buy on dips and sell on upticks as opportunity lies on both sides: Amit Pabari, managing director, CR Forex Advisors

    09:49 (IST)21 Dec 2020
    Sensex, Nifty trim losses, trade flat

    After falling over 200 points during the initial few minutes of trading, S&P BSE Sensex trimmed losses and was seen trading flat on Monday morning. Nifty regained 13,700.

    09:43 (IST)21 Dec 2020
    Nifty needs to hold above 13,700

    "The Nifty is keeping above the crucial 13700 levels. If we can continue doing that, the markets should be headed to 14000. A strong support lies at the 13500-13600 levels and as long as that holds, the trend of the index remains bullish and traders can utilise any dip to accumulate long positions," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    09:33 (IST)21 Dec 2020
    New coronavirus strain spikes fear

    "A new and faster-transmitting strain of the virus in the UK is an area of concern. This has led to further restrictions on travel and economic activity. Acceleration in the number of cases in the US and poor economic data are other dampeners. However, the US Congress agreement on $ 900 billion of fiscal stimulus is likely to support markets. High valuation continues to be a concern in India. But the power of FII-driven liquidity is overwhelming all negative news. Investors should exercise caution," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    09:30 (IST)21 Dec 2020
    Gold edges up on safe haven buying amid renewed virus concerns

    COMEX gold trades about 0.7% higher near $1903/oz after a 0.1% decline on Friday. Gold edged up on back of safe haven buying amid renewed virus concerns post UK’s discovery of a new variant of coronavirus. Also supporting price is increased US-China tensions over blacklisting of some Chinese firms and prolonged UK-EU Brexit negotiations and progress on US fiscal stimulus deal. However, weighing on price is recovery in the US dollar from recent lows, vaccine progress and continuing ETF outflows. Gold has rescaled $1900/oz and we may see some extended gains: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:21 (IST)21 Dec 2020
    Only 5 Sensex constituents trade with gains

    Among the 30 Sensex stocks only 5 were trading with gains on Monday morning. The gainers included, Larsen & Toubro, Reliance Industries, Sun Pharma, Dr Reddy's, and HUL.

    09:20 (IST)21 Dec 2020
    Sensex down 200 points

    Minutes after the opening bell, Sensex added to its losses and fell over 200 points. Nifty was below 13,700.

    09:18 (IST)21 Dec 2020
    Opening Bell: Sensex, Nifty slip

    S&P BSE Sensex was trading over 100 points lower on Monday's opening bell. Nifty 50 was nearing 1,3700. Both the benchmark indices slipped further during the early hours of trade.

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