Market HIGHLIGHTS: Sensex plunges 540 pts, Nifty ends below 11,800; RIL, HDFC Bank shares top drags

By: |
Updated: October 26, 2020 4:24:07 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks, BSE Sensex and Nifty 50 ended over 1 per cent down on Monday

Share Market Today, Share Market LiveBearish bets for the next 7 days will be off if the Nifty moves higher and crosses the previous swing highs of 13040.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over 1.3 per cent in Monday’s session. S&P BSE Sensex ended 540 points or 1.33 per cent down at 40,145, while the Nifty 50 index gave up 11,800 and ended at 11767, down 163 points or 1.36 per cent. Bajaj-Auto shares were the worst performers, falling over 6.10 per cent. Besides, index heavyweights such Reliance Industries Ltd, HDFC Bank, ICICI Bank and Axis Bank contributed the most to today’s fall. On the flip side, Nestle India gained 2.5 per cent, followed by Kotak Mahindra Bank, IndusInd Bank, Power Grid Corporation of India, HUL, L&T, HDFC and TCS. RIL shares ended 4 per cent down today an emergency arbitrator in Singapore ruled in favour of Amazon and put the RIL-Future deal on hold. The trend among sectoral indices was negative with Nifty Metal and Nifty Auto as top laggards, down 3.5 per cent and 3.22 per cent.

Read More

Live Blog

Highlights

    15:40 (IST)26 Oct 2020
    Sensex, Nifty drop over 1% on Monday

    Indices saw more than a percentage cut today as several countries in the EU are slated to go into a lockdown. Auto stocks were pounded today on apprehensions of a softer festive season and the late afternoon selling in Metal stocks pushed Indices into red during the earnings season. Value Buying was witnessed today in Insurance companies and Midcap Cement: S Ranganathan, Head of Research at LKP Securities

    15:38 (IST)26 Oct 2020
    Sensex plunges 540 poins, Nifty ends below 11,800

    S&P BSE Sensex ended 540 points or 1.33 per cent down at 40,145, while the Nifty 50 index gave up 11,800 and ended at 11767, down 163 points or 1.36 per cent

    15:35 (IST)26 Oct 2020
    Nifty can slide down to targets closer to 11450-11500 if 11700 is breached

    We threatened the lower end of the range by piercing 11750 on an intraday basis but the Nifty was quick to bounce back to close above it. If the level of 11700 is breached, we can slide down to targets closer to 11450-11500: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:02 (IST)26 Oct 2020
    Bharti Airtel share price plunges 46% in 6 months, should you buy? Stock looks set for 60% rally now

    Following a rally of over 9 per cent in the last five sessions, Bharti Airtel shares fell 1.45 per cent to Rs 428.05 apiece on BSE today. Foreign brokerages Citi Research and Berstein have ‘buy’ rating to the stock, with a potential upside of nearly 60 per cent from the previous close. Bernstein has initiated its coverage on this telecom giant and believes that India remains an attractive market opportunity in Telecom. It sees Bharti Airtel as one of the two long term winners.

    Read full story

    14:29 (IST)26 Oct 2020
    Muthoot Finance plans to raise Rs 2,000 cr through bonds

    Gold loan focussed non-banking finance company Muthoot Finance on Monday said it is looking to raise up to Rs 2,000 crore through non-convertible debentures (NCDs) for lending purposes. The base size of the issue is Rs 100 crore with an option to retain oversubscription up to Rs 1,900 crore, aggregating up to Rs 2,000 crore, the company said in the release.

    Read full story

    14:06 (IST)26 Oct 2020
    If Nifty closes below 11740 then chances of hitting 11600 would turn bright

    The market has broken crucial support 11770. However, it happened in the time of faster than expectations. Index heavyweights like RIL, HDFC BANK AND ICICI BANK collapsed in the early trade, which is an indication of further weakness. Today, we need to see that whether the market is closing below the level of 11740 or not and in case if it is closing below the level of 11740 then the chances of hitting 11600 would turn bright. On an immediate basis, it has the support of 20 days SMA, which is placed at 11715.  The range would be 11850 and 11600 for next two days. Currently, FIIs have positions Put options and they are reducing their positions on calls and on index futures, which is again an alarming situation: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

    14:03 (IST)26 Oct 2020
    Nifty 50 is having resistance at 11850-11920 on higher side

    The second wave of coronavirus in the UK increased the fear in the market and profit booking was witnessed in the market. Nifty 50 broke the near-term support level of 11850, if Nifty 50 sustains below 11850 it may slip further towards 11730-11650. Nifty 50 is having resistance at 11850-11920 on the higher side: Rajesh Palviya, Head Technical & Derivatives, Axis Securities

    14:01 (IST)26 Oct 2020
    Nifty support is at 11650, resistance at 12050

    The appreciation in USDINR, rollover for the November series, delay in the Future Group and Reliance deal, and worries over the US election outcome are keeping the market volatile. The traders will search for a place to hide or hedge the portfolio. Even some traders can take money out of the table and wait for the event to pass on. Next support for Nifty is at 11650 and resistance at 12050: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

    13:59 (IST)26 Oct 2020
    Kotak Mahindra Bank net profit rises 27% in Sep quarter

    Kotak Mahindra Bank reported a 26.67 per cent year-on-year rise in standalone net profit at Rs 2,184.48 crore for the September quarter. The private lender had reported a profit of Rs 1,724.48 crore in the year-ago quarter.

    13:43 (IST)26 Oct 2020
    On sustaining 11650, Nifty 50 could possibly bounce back

    Benchmark index continues to oscillate sideways for a couple of trading session. This sideways oscillation could continue until 11650 mark. On sustaining 11650, the index could possibly bounce back and attempts to surpass the intermediate resistance of 11950 - 12000 can be seen. Higher time frame chart remains firm with minor pullback expected until 11650. The index could require a decisive breakout above 11950 -12000 for the rally to continue. A close above 11950-12000 will open the way for extended higher moves until 12200: Abhishek Karande, CMT - Sr. Research Analyst, Reliance Securities

    13:35 (IST)26 Oct 2020
    Nifty 50 immediate support at 11,580

    The immediate support is 11580, any breach will invite incremental weakness. While resistance, now, stands at 11900-11950: Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst, Gemstone Equity Research & Advisory Services

    13:34 (IST)26 Oct 2020
    Markets take a directional bias/call on the expected lines on the downside

    The fall is, again very much technical in nature. The NIFTY Created a large black body on Thursday, Oct 15. All the six trading sessions after that were within the range of this large trading bar. During these six days, the momentum was clearly decelerating as it was evident from the narrowing slope of the Histogram. Today, the markets finally took a directional bias/call on the expected lines on the downside. On the broader landscape, there is also a structural change happening in the global asset allocation model. Given the rotation of various asset classes on the Relative Rotation Graph, the Equities, as an asset class, has slipped in the weakening quadrant. Going ahead, it may not be a surprise if we find the riskier assets like equities are NOT being chased like before: Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst, Gemstone Equity Research & Advisory Services

    13:27 (IST)26 Oct 2020
    Sensex, Nifty see sudden fall in afternoon deals

    Basically sell-off across global markets, lightening of positions ahead of next week US Presidential elections and worrying COVID-19 cases in Europe, hitting all-time high causing investor concern: Aamar Deo Singh, Head Advisory at Angel Broking

    13:25 (IST)26 Oct 2020
    What led to a 550-point fall in Sensex?

    A host of factors such as lower festive sales in auto space, Europe news on Covid-19 indicating that many countries are expected to impose fresh restrictions, are among top reasons behind Sensex' 550-point fall on Monday: Narendra Solanki, Head of Research at Anand Rathi Shares and Stock Brokers

    13:06 (IST)26 Oct 2020
    Nifty Metal index top sectoral laggard

    All sectoral indices were trading deep in red. The Nifty Metal index was the top sectoral loser, down 4.15 per cent led by losses in JSW Steel, Tata Steel, SAIL, and MIDHANI

    13:04 (IST)26 Oct 2020
    Nestle India top Sensex gainer

    Nestle India was the best performing stock, gaining over 2 per cent on otherwise weak trade. IndusInd bank, Hindustan Unilever, TCS and HCL tech were up in the range of 0.30-1.23 per cent.

    13:02 (IST)26 Oct 2020
    Bajaj-Auto share price plummets over 6%

    Bajaj-Auto shares were top Sensex loser, falling over 6 per cent, followed by Tata Steel, ICICI Bank, M&M, Bajaj Finsv, SBI and Kotak Mahindra Bank.

    13:00 (IST)26 Oct 2020
    Sensex plunges over 550 pts; Nifty gives up 11,800

    BSE Sensex plunged 550 points to trade at 40,132, while the broader Nifty 50 index gave up the crucial 11,800 mark and was trading at 11,764.

    Checl kive Sensex, Nifty levels

    12:22 (IST)26 Oct 2020
    CDSL reports a 68% on-year, 5% sequential increase in consolidated PAT

    Total Profit after Tax for the quarter ended September 30, 2020 increased by Rs 19.81 crore (68%) to Rs. 48.87 crore from Rs. 29.06 crore of the previous quarter. Total Income for the quarter ended September 30, 2020 increased by Rs. 31.81 crore (46%) to Rs. 101.16 crore from Rs. 69.35 crore of the previous quarter.

    12:04 (IST)26 Oct 2020
    Analyst's view on ICICI Lombard

    ICICI Lombard reported a good set of numbers for Q2FY21. Gross Direct Premium Income (GDPI) grew 8% YoY and declined 3.4% QoQ. PAT jumped 35% YoY, primarily owing to a Lower claim ratio and better-combined ratio. The combined ratio improved by 30bps YoY to 100.1% due to lower claims in motor insurance. Retail health indemnity grew by 39% YoY in H1FY21 (48% YoY in Q2FY21). ICICI Lombard received 17000 covid-19 claims, which led to an outflow of Rs.115cr, if India does not witness the second wave of Covid Case then it will be positive for ICICI Lombard. General insurance segment well placed in the current scenario and ICICI Lombard has required skill set of underwriting, has strong capital to grow business. In current times the indemnity segment will help to improve growth. currently, it trades at 41x of trailing earnings, we have a positive view on ICICI Lombard considering the healthy return ratio and the industry has a structural demand tailwind: Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

    11:23 (IST)26 Oct 2020
    Coforge Q2 earnings

    Coforge that was erstwhile known as NIIT Technologies Ltd, reported consolidated revenue of Rs 11,537 million during Q2FY’21, representing a growth of 11.1% over the same quarter previous year. On a sequential basis, consolidated revenue grew 9.1% over thepreceding quarter in rupee terms, 8.1% in constant currency terms, and 10.7% in dollar terms. EBITDA (before RSU costs i.e. cost of ESOPs) for the quarter under review increased 14.4% YoY and was up 20.2% QoQ to Rs 2,172 million, translating into EBITDA margin of 18.8% for Q2FY’21.

    11:14 (IST)26 Oct 2020
    IndusInd Bank shares jump over 4% on takeover news by Kotak Bank; promoters deny, call baseless

    IndusInd Bank share price jumped over 4 per cent to Rs 633 apiece on BSE, after a Bloomberg report suggested that Kotak Mahindra Bank is exploring a takeover of IndusInd Bank Ltd. While Kotak Mahindra Bank shares were trading volatile. IndusInd Bank has, however, denied the takeover news, calling it baseless and untrue. IndusInd Bank shares were the top BSE Sensex gainer in otherwise weak trade on Monday.

    Read full story

    10:47 (IST)26 Oct 2020
    Earnings in Q2FY21: Off to a flying start amid lockdown between July and September

    As the Hindustan Unilever management observed post the company’s earnings announcement, the worst is behind us. Indeed, earnings season has got off to a good, even a flying start, if one considers that much of the country was under a lockdown between July and September. With revenues subdued, it was lower costs — especially smaller other expenses — that helped companies protect their margins; for an aggregate of 173companies (excluding financials), expenditure fell 1.53% y-o-y pushing up operating margins by a whopping 336 bps y-o-y. A jump in other income boosted net profits by 11% y-o-y.

    Read full story

    10:36 (IST)26 Oct 2020
    Kotak Mahindra Bank mulls takeover of IndusInd Bank; assets likely to rise this much

    Kotak Mahindra Bank Ltd., backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank Ltd., people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets. Uday Kotak, founder and chief executive officer of Kotak Mahindra, is looking at the possibility of an all-stock acquisition, one of the people said, asking not to be identified as the discussions are private.

    Read full story

    10:36 (IST)26 Oct 2020
    Buy gold at Rs 50,500 with stop loss of Rs 50,200 per 10 gm

    Lower interest rates and enormous amount of liquidity infusion by global central banks helped Gold gains about 25 per cent in 2020 as it is considered as a hedge against inflation and currency debasement. Gold Prices also found some support as reinforcement of the pandemic triggered curbs in Europe and global cases surpassing 41.7 million shifted investors to take shelter under Gold. As for today traders can go for buy in gold at Rs 50,500 levels with the stop loss of Rs 50200 levels for the target of 50900 levels. They can also go for buy in Silver at Rs 61,500 levels, with the stop loss of 60,800 levels and for the target of 62,700 levels: Anuj Gupta - DVP- Commodities and Currencies Research, Angel Broking Ltd

    10:26 (IST)26 Oct 2020
    RIL shares fall 2%, Future Retail dives 9% after Singapore arbitrator halts deal in favour of Amazon

    Reliance Industries Ltd (RIL) share price fell over 2 per cent to Rs 2,067 apiece on BSE after an emergency arbitrator in Singapore ruled in favour of Amazon, putting the RIL-Future deal on hold. However, shortly after the Singapore Arbitrator’s ruling, Mukesh Ambani-led firm said it will complete the transaction without any delay. On the other hand, Kishore Biyani’s Future Retail Ltd share price plunged 9.3 per cent to Rs 70.55 apiece.

    Read full story

    10:18 (IST)26 Oct 2020
    Rupee opens weak against US dollar on Monday

    Indian rupee opened lower at 73.78 per US dollar on Monday as compared to a previous close of 73.62 against the US dollar

    09:52 (IST)26 Oct 2020
    Every uptick above 73.80 can be taken as selling opportunity

    As rupee has been confined to its range of 73.00-73.80 levels and haven’t reached 74.00 mark for past two months, a breakout in 73.80 levels will invite further buying bets and rupee shall head to near 74.20 levels. However, if selling is witnessed in the initial hour, then pair can move near 73.50-73.60 levels. In the prevailing situation, it is suggested to strategize and follow a policy rather speculating on the momentum keeping the exposures at risk. Overall, as long as the pair doesn’t break 74.50 crucial and previous all-time low resistance levels, every uptick above 73.80 can be taken as selling opportunity and dips near 73.00-73.20 levels shall be utilized for buying: Amit Pabari, managing director, CR Forex Advisors

    09:42 (IST)26 Oct 2020
    Nifty 50 range for this week is 11750-12050

    The range for the week ahead is between 11750 and 12050. The last two trading sessions have witnessed apathetic volumes because of which we have been trading in a lacklustre fashion all of last week. Since this is expiry week, we should expect additional volumes to flow in so that a direction in the Nifty can be witnessed: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:30 (IST)26 Oct 2020
    IndusInd Bank shares jump 3.5%; top Sensex gainer

    IndusInd Bank was the top Sensex gainer and jumped 3.5 per cent on BSE after a Bloomberg report suggested that Kotak Mahindra Bank is exploring a takeover of smaller Indian rival IndusInd Bank Ltd.

    Check prices: IndusInd Bank

    09:27 (IST)26 Oct 2020
    RIL share price falls 1.7% after Singapore Arbitrator rules in Amazon favor

    Reliance Industries Ltd share price fell 1.77 per cent to Rs 2,075.15 apiece on BSE after an emergency arbitrator in Singapore ruled in favour of Amazon and put the RIL-Future deal on hold.

    Check prices: RIL

    09:23 (IST)26 Oct 2020
    Gold may remain directionless until there is more clarity on US stimulus

    COMEX gold trades moderately lower near $1899/oz after a flat close in the previous session. Weighing on gold is marginal gains in US dollar after last week’s losses. ETF outflows also show weaker investor buying. However, supporting price is global growth worries amid rising virus cases and uneven recovery. Gold may remain directionless until there is more clarity on US stimulus however the general bias is still positive owing to pressure on the US dollar: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:22 (IST)26 Oct 2020
    Sensex falls below 40,550; Nifty tests 11,900

    BSE Sensex fell 148 points to trade at 40,536, while the broader Nifty 50 index was testing the crucial 11,900-markon Monday, following Asian markets.

    Check live Sensex, Nifty levels

    09:10 (IST)26 Oct 2020
    Rupee to trade a 73.65-73.95 range intraday

    The Rupee had weakened post onshore close in the offshore NDF market to 73.90 (implied spot). We could see some stops get triggered on break of 73.95. However, month end exporter selling is likely to cap upside. We expect the Rupee to trade a 73.65-73.95 range intraday and a 73.50-74.30 range this week: Abhishek Goenka, Founder and CEO, IFA Global

    09:09 (IST)26 Oct 2020
    Gold prices ease on Monday morning as greenback rebounds

    Gold eased on Monday morning as the greenback has rebounded and there seem no signs of progress on coronavirus relief package in the US. The focus will shift to the dollar's move and new home sales data to be released later in the session. Moreover, countries like UK, US & Germany will release Q3 GDP during the week. Fear of the second wave of virus in the Europe may stay as a supportive trigger for th yellow metal: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

    09:07 (IST)26 Oct 2020
    Nifty tops 12,000; Sensex gains over 100 pts in pre-open

    BSE Sensex jumped 118 points to trade at 40,804, while the broader Nifty 50 index surpassed the crucial 12,000-mark in the pre-opening session on Monday.

    Check live Sensex, Nifty levels

    09:02 (IST)26 Oct 2020
    RIL says will complete Future deal without delay, even as Singapore Arbitrator ruling favours Amazon

    Reliance Industries Ltd emphasised its position on the proposed acquisition of the Kishore Biyani’s Future Retail assets, and said that it will complete the transaction at the earliest. RIL’s statement came shortly after an emergency arbitrator in Singapore ruled in favour of Amazon, and put the RIL-Future deal on hold. “RRVL (Reliance Retail Ventures Ltd) intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay,” RIL said in a statement late last night

    Read full story

    08:20 (IST)26 Oct 2020
    FPIs remain net buyers in October so far amid better than expected financial results

    Foreign portfolio investors (FPI) remained net buyers in Indian markets in October so far, pumping in a net Rs 17,749 crore in the month as better than expected quarterly results, the opening of the economy, and resumption of business activities kept investors’ interest intact. In equities, FPIs invested a net sum of Rs 15,642 crore and the debt segment saw an inflow of Rs 2,107 crore during October 1-23, the depositories data showed.

    Read full story

    08:12 (IST)26 Oct 2020
    Asian stock markets strade lower

    Asian stock markets were trading mostly lower on Monday. The Shanghai composite down about 1.5% while the Shenzhen component fell 1.45%. In Japan, the Nikkei 225 dipped slightly while the Topix index slipped 0.26%.

    08:11 (IST)26 Oct 2020
    Amazon gets interim relief; arbitration panel says Future cannot sell biz to RIL

    Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries Ltd for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani’s Reliance.

    Read full story

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1U.S. Stocks: Wall Street slips as monthly private payrolls disappoint
    2QIP mechanism: Sebi proposes discontinuing segregated offering of NCD, warrants
    3Sugar output jumps over two-fold at 42.9 lakh ton in October-November