Share Market HIGHLIGHTS: Sensex crashes 1158 pts, ends below 60000, Nifty settles at 17857 on F&O expiry day

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Updated: October 28, 2021 4:33:56 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 tanked nearly 2% on Thursday

Share Market Today, Share Market LiveBank Nifty lost 3.34 per cent or 1,365.40 points to settle at 39,508.95.

Share Market News Today | Sensex, Nifty, Share Prices LIVEHIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 cracked nearly 2 per cent on Thursday, a day of F&O expiry. The correction in the market was seen on the back of persistent selling pressure. BSE Sensex tumbled 1.9 per cent or 1158 points to 59,985, while NSE’s Nifty plunged 354 points or 1.9 per cent to settle at 17,857.25. ITC, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Titan Company, State Bank of India (SBI), HDFC Bank, NTPC, Tech Mahindra were top Sensex draggers. On the flip side, IndusInd Bank, Larsen & Toubro (L&T), UltraTech Cement, Asian Paints, Maruti Suzuki and Bajaj Finance were the only index gainers. Bank Nifty lost 3.34 per cent or 1,365.40 points to settle at 39,508.95.

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Highlights

    15:32 (IST)28 Oct 2021
    Bank Nifty may fall to 38150 in coming week

    A daily close in Nifty below 17986 can lead to lower targets of 17640-17580. 18000 acts as a very strong resistance. Nifty Bank close below 39400 could lead to 38670-38150 in the coming week. AR Ramachandran, Co-founder & Trainer, Tips2Trades

    15:28 (IST)28 Oct 2021
    New spike in COVID cases too dragged Sensex, Nifty

    Market falls below the crucial support levels of 17950-18000 as the global markets saw the negativity in the market sentiments. European markets were down with the expectations of monetary policy tightening as the inflation keeps rising. Spike in new cases of covid infections also acted as a reminder that the pandemic is far from over which led to the addition of negativity in the market. Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research

    15:24 (IST)28 Oct 2021
    If Nifty falls below 17800, if may hit 17600

    We witnessed the continuation in the correction in the market after the market failed to hold the Nifty 50 Index level of 18200 and then 18000 consecutively. Our research shows that it is going to be crucial for the short-term market scenario to sustain above the 17800 Nifty50 Index support zone. If the market is unable to sustain the level of 17800, we can witness lower levels of 17600. Technical indicator suggests, a volatile movement in the market. Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research

    15:18 (IST)28 Oct 2021
    Key factors behind today's fall in Sensex, Nifty

    Relentless selling by FIIs is a key reason for this correction in the market. Today, Morgan Stanley downgrades India to equal weight due to outperformance by Indian markets in recent months. Inflation and slowdown in global growth momentum are other concerns amid expensive valuations. The rise in fresh covid cases in some of the countries is also disturbing the mood of the investors. We are in a structural bull market where intermediate corrections will be a part of this journey and these kinds of corrections will provide good buying opportunities in quality stocks. Santosh Meena, Head of Research, Swastika Investmart

    15:14 (IST)28 Oct 2021
    Nifty support at 17500-17650; what dragged Sensex, Nifty today?

    Markets witness sharp correction during today’s trading session, benchmark indices Nifty & Sensex were down by almost 1.75%, with Bank-Nifty taking the most brunt, down by over 3%. Nifty breached the 18,000 psychological level with broad-based selling seen across sectors. Weak global sentiments also added to the sell-off, coupled with the monthly FO expiry. Nifty has a crucial technical support zone around 17650-17500 levels and a resistance zone around 18,050-18,200. Trading with caution is advised, given the recent enhanced volatility in the markets. Aamar Deo Singh, Head Advisory, Angel One

    15:08 (IST)28 Oct 2021
    Sensex, Nifty witness heavy sell-off on F&O expiry day

    Domestic equities witnessed heavy sell-off today with high volatility mainly led by sharp correction in heavyweight financials and IT, which wiped out Rs 4.5 lakh crore from investors' wealth. Notably, all key sectoral indices fell sharply today, while Nifty PSU Bank has fallen over 4%. In our view, in addition to weak global cues, the unwinding of long positions especially in financials on F&O expiry, which had seen sharp rally in recent period were the prime reasons for sharp market correction today. Binod Modi, Head Strategy at Reliance Securities

    14:59 (IST)28 Oct 2021
    Bank Nifty tanks over 3%

    Bank Nifty tumbled over 3 per cent to 39,586.75 levels on Thursday

    14:54 (IST)28 Oct 2021
    Sensex crashes over 1000 pts

    BSE Sensex crashed over 1,000 points during last hour of today's trade on the back of persistent selling pressure.

    14:39 (IST)28 Oct 2021
    Sensex, Nifty extend losses, trade at day's lows

    BSE Sensex tumbled 1.51 per cent or 921 points to 60,221, while NSE's Nifty fell to 17,907.70

    14:23 (IST)28 Oct 2021
    Bank Nifty looks to fall to 38,000

    Bank Nifty is also showing signs of topping out from the 41500 level where it has slipped below the sacrosanct level of 40000. On the downside, 39250 will be an immediate and important support level that may coincide with rising 20-DMA; below this, we can expect further weakness towards 38000-37700. On the upside, 40500-41000 will act as a strong supply zone.Santosh Meena, Head of Research, Swastika Investmart 

    14:21 (IST)28 Oct 2021
    Nifty slips below 20-DMA

    Nifty is witnessing first meaningful where it has slipped below its 20-DMA that has opened the door for further downside where rising 50-DMA will be the next support level that may coincide with gap area around 17650 level while below this, 17450-17250 will be the next support zone. On the upside, 18150-18300 has become an immediate supply zone. Santosh Meena, Head of Research, Swastika Investmart 

    14:13 (IST)28 Oct 2021
    Long term investors may subscribe to Policybazaar IPO

    With strong brand equity, PB Fintech commands a stellar 93.4% market share in its digital insurance marketplace Policy Bazaar and 51.4% in its digital consumer credit marketplace Paisabazaar. The company has delivered a notable 34% CAGR in its revenues and although it has expanded its contribution margin considerably from 8.6% to 39.8% over FY19 to FY21, it remains EBITDA negative. Considering the intensifying competition in the sector and certain larger players delisting their products from the platform, the key challenge for the company lies in shielding its market share and consistently scaling its revenue. Speaking about the valuation, the company is seeking a market cap of around 2.5 times of its last funding round in March’21. While the Insurance broker's license and the minimal online insurance penetration in India provide the company massive long-term opportunities to grow, the current valuation seems pretty expensive. Hence, only investors with a longer time horizon, larger risk tolerance and the patience to wait for the company's return ratios to improve should subscribe. Yesha Shah, Head of Equity Research, Samco Securities

    14:12 (IST)28 Oct 2021
    Nykaa IPO: Should you invest?

    With a diverse assortment of beauty, personal care and fashion products, Nykaa’s supremacy lies in its ability to retain and attract customers. Nykaa has witnessed sustained growth in GMV over the years and has the highest AOV. Its robust technology and content engine, focus on capital efficiency and positive unit economics coupled with immense headroom for penetration, provide the company a long runway for growth. The dearth of PAT positive new-age companies in India and its first-mover advantage augurs well enabling Nykaa to command higher premium. We believe the company is capable of improving its financial metrics and cementing its position going forward and hence recommend investors to Subscribe to the issue. Yesha Shah, Head of Equity Research, Samco Securities

    14:08 (IST)28 Oct 2021
    Bank Nifty down over 2%

    Bank Nifty lost 2.3 per cent to trade at 39,934 in the afternoon deals on Thursday

    14:05 (IST)28 Oct 2021
    Nifty may fall to 17500, below 17950 level

    Nifty PCR is in oversold territory. Nifty Technical support at 17,950 spot. If this level breaks, we may witness 17,500. Maintain 17,950 as closing SL for long positions. Investors can utilise this volatility to accumulate our Diwali Picks. Rahul Sharma, JM Financial Services

    13:55 (IST)28 Oct 2021
    Lupin Q2FY22 in line with street expectations

    Numbers are in line with market expectation, gross margins are back to pre covid levels, we expect some pressure on gross margins to continue in next quarter also due to higher raw material prices. We have a neutral outlook on Lupin. Yash Gupta, Equity Research Analyst, Angel One

    13:50 (IST)28 Oct 2021
    How have the IPOs fared this year?

    The equity market has witnessed a boom in both the primary and secondary segments this year which in a way vindicates the theory of strong recovery in the economy notwithstanding the second wave and second lockdown. The secondary segment stands out with the Sensex moving from 47,751 in December 2020 to 61,350 in October. This is an increase of around 28%. During the calendar year so far there have been issuances of around Rs 72,000 crore with 87 companies raising equity. This is in contrast to just around Rs 18,500 crore raised for the 10 months last year. CARE Ratings

    13:49 (IST)28 Oct 2021
    Share India Securities income grows 133% yoy

    The consolidated income of Share India Securities grew 133% in H1 FY22(YoY) to Rs 372.90 Crore. The consolidated profit after tax (after minority interest) grew 182% YoY to Rs 76.99 crore. PAT margin of the company stood at 20.65% as compared to 17.05% in H1FY21.During Q2 FY22, the company announced acquisition of majority stake in Algowire Trading Technologies Pvt. Ltd. and Utrade Solutions Pvt. Ltd. for consideration of over Rs 15 crore.

    13:40 (IST)28 Oct 2021
    Subscribe Nykaa IPO ~ Samco Securities

    "With a diverse assortment of beauty, personal care and fashion products, Nykaa’s supremacy lies in its ability to retain and attract customers. Nykaa has witnessed sustained growth in GMV over the years and has the highest AOV. It’s robust technology and content engine, focus on capital efficiency and positive unit economics coupled with immense headroom for penetration, provide the company a long runway for growth. The dearth of PAT positive new age companies in India and it’s first mover advantage augurs well enabling Nykaa to command higher premium. We believe the company is capable of improving its financial metrics and cementing its position going forward and hence recommend investors to Subscribe to the issue," said Yesha Shah, Head of Equity Research, Samco Securities. 

    13:39 (IST)28 Oct 2021
    Sensex, Nifty extend losses

    Sensex was down more than 700 points on Thursday while Nifty was holding just above 17,950 as bears continued to force the headline indices lower. 

    13:38 (IST)28 Oct 2021
    NSE volume toppers: PNB, Vodafone-Idea among highest traded stocks; IRCTC, IndusInd Bank value toppers

    Sensex was down 500 points, slipping below 61,000 mark while NSE Nifty 50 was nearing 18,000 mark on the monthly futures & options expiry session. Broader markets were mirroring the downfall with most midcap and small-cap underperforming. Bank Nifty was down 1.45%, moving below 40,300. Meanwhile, India VIX was up more than 5%, soaring past the 17 mark. Amid the heightened volatility, PNB was the most traded stock on the NSE with more than 17 crore shares exchanging hands as the stock dropped 8.96% to trade at Rs 42.15 per share. In terms of value, IRCTC was on the top of the list as shares worth Rs 3,000 crore traded. 

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    13:08 (IST)28 Oct 2021
    52-week highs, 52-week lows: IndusInd Bank among 147 stock to hit new highs on BSE; 24 shares at new lows

    BSE Sensex and Nifty 50 were trading at day’s lows on Thursday, as sell-off intensified on D-Street on F&O expiry day. The 30-stock index Sensex was hovering near 60,600, while the NSE Nifty gave up the 18,050 levels. Amid this sell-off, a total of 24 stocks hit their fresh 52-week low levels on BSE so far in the trade. While 147 scrips touched fresh 52-week highs, defying the sell-off on BSE. On the S&P BSE Sensex, just one stock — IndusInd Bank hit a new 52-week high of Rs 1,241.85 apiece, surpassing the previous high of Rs 1,239.40 apiece. While on S&P BSE 200, along with IndusInd Bank, ABB stock too rose to a new 52-week high.

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    13:07 (IST)28 Oct 2021
    More volatility on cards for Nifty

    We expect the market to be volatile in the coming weeks and we expect selling pressure to continue in the broader market. We suggest investors be cautious on the market, look for profit booking and avoid buy on dip strategy. Yash Gupta, Equity Research Analyst, Angel One

    12:02 (IST)28 Oct 2021
    Nifty unlikely to show any weakness if it remains above 17950-18000

    The Nifty 50 index has clearly defined a trading zone of 18000-18600 levels for itself; presently it has been defending the key supports so far. As per the pattern analysis of the charts, so long as NIFTY is above to defend the zone of 17950-18000 it is unlikely to show any major weakness and the dips may keep getting bought. Today there can be an exception to this behavior given the expiry-influenced trends. However, NIFTY will stay stable so long as it defends the zone mentioned here. It will invite weakness only if this zone is violated on a closing basis. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

    11:39 (IST)28 Oct 2021
    Nifty may fall to 17800, Sensex to 60,000 this week

    Sensex has fallen more than 1% today taking cues from weak global markets. The monthly expiry of  October futures has further put pressure on the benchmark indices. Nifty may touch the level of 17800 and Sensex may touch the level of 60000 this week. Ravi Singh, VP Head of Research, Share India Securities

    11:29 (IST)28 Oct 2021
    New COVID variant drags Sensex, Nifty

    Q2 results, so far, shows a sharp turnaround in India Inc's profitability, and the present demand conditions indicate a continuation of this positive trend. However, in the coming days, the primary market with its keenly watched IPOs is likely to be the centre of attraction. The Nykaa and Paytm IPOs totalling around Rs 24000 cr are likely to witness enthusiastic investor response and this will drain away some liquidity from the secondary market. This may keep the secondary market rather subdued, but sharp reactions to results will lead to volatility in individual stocks.On the flip side, the new Covid variant AY 4.2 has emerged as a new concern. China imposing price curbs on coal will have implications for global coal and metal prices. This can restrain the rally in metal stocks, which has been the best performing segment of the market in this rally. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    11:26 (IST)28 Oct 2021
    Nifty surges 43% in Samvat 2077

    Nifty has given around 43% returns in Samvat2077 so far, while Midcaps/Smallcapshave outperformed and are up 70%/82% respectively. All sectors delivered positive returns, with top gainers being Metals (+128% YoY), Realty (+113%) and PSU Banks (+93%). Motilal Oswal Financial Services

    11:19 (IST)28 Oct 2021
    Bank Nifty support at 40150, Nifty's at 17976

    Global inflationary environment & average Q2FY22 results along with monthly expiry volatility has led to a 1% cut in both Nifty & Nifty Bank. Technically, Nifty has strong support at 17976 below which 17700 could be possible. Nifty Bank has immediate support at 40150. Daily closing below this support should lead to 39450. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades

    11:17 (IST)28 Oct 2021
    IndusInd Bank surges 6% even as Sensex, Nifty down 1%

    Even as Sensex and Nifty were down 1%, stocks such as IndusInd Bank, L&T, Maruti Suzuki, UltraTech Cement, Asian Paints surged up to 6 per cent

    11:10 (IST)28 Oct 2021
    Nifty support at 17950; faces resistance at 18350

    Indian equity benchmarks made a negative start on Thursday tracking weakness in global peers. Markets quickly extended their losses and are now trading lower, with each market losing more than half a percent in early trade. The domestic indices were weighed down by selling on almost all sector indices, with the exception of Capital Goods. Traders were wary since the October F&O series contract was set to expire later in the day. Our research suggests that 18350 may act as resistance point for short period and 17950 an important support level in the market. If the market breaches the level of 18350, we can expect the market to trade till the level of 18400-18500. Technical Indicators also support positivity in the market. Likhita Chepa, Senior Research Analyst at CapitalVia Global Research

    11:05 (IST)28 Oct 2021
    ICICI Bank, HDFC Bank, RIL top Sensex draggers

    Index heavyweights such ICICI Bank, HDFC Bank, Housing Development Finance Corporation (HDFC), ITC, Kotak Mahindra Bank and Reliance were top Sensex draggers

    11:02 (IST)28 Oct 2021
    Sensex, Nifty at day's lows, tumble 1%

    BSE Sensex was trading at day's low, tumbling over 600 points or one per cent to 60,532. While NSE Nifty lost 185 points or one per cent to rule at 18,017

    10:21 (IST)28 Oct 2021
    Nifty support at now 17900

    The index has a stiff resistance at 18350 and that has been proved a couple of times over the last few sessions. The Nifty has a good support around the 17900-18000 levels. As long as that holds, the trend remains positive. But if we are unable to break this level and do not surpass 18350 either, the markets are going to trade sideways. Therefore it is advised not to consider any directional call on the index until either level is taken out. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:56 (IST)28 Oct 2021
    Paytm IPO opens Nov 8; check price band, lot size, bid details for India’s largest public issue

    Paytm’s Rs 18,300-crore IPO — India’s largest to date — will open for subscription on 8 November 2021, at a price band of Rs 2,080-2,150 per share of face value of Rs 1 each. The IPO would topple the 2010 public issue of state-run Coal India Ltd as the largest ever. Paytm IPO will close for subscription on 10 November. The firm has increased its IPO size by Rs 1,700 crore to Rs 18,300 crore from Rs 16,600 crore, with the increment coming entirely from the existing shareholders selling more stake. The public issue comprises a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of up to Rs 10,000 crore. 

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    09:45 (IST)28 Oct 2021
    Nykaa IPO opens: Grey market premium strong, anchor investors put in Rs 2,395 crore; should you subscribe?

    Nykaa IPO opened for subscription today, with the fashion e-commerce brand looking to raise Rs 5,352 crore in the primary market. Ahead of the IPO (Initial Public Offering), Nykaa's parent company FSN E-Commerce Ventures Ltd managed to raise Rs 2,395 crore from 174 anchor investors.

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    09:28 (IST)28 Oct 2021
    Bank Nifty falls below 41,000

    All the Nifty sectoral indices were trading in the red, falling up to 2.3 per cent. Bank Nifty lost over half a per cent to rule at 40,652. Nifty Metal fell nearly 2 per cent

    09:25 (IST)28 Oct 2021
    IndusInd Bank top Sensex gainer

    IndusInd Bank, Larsen & Toubro (L&T), Bajaj-Auto, M&M, HUL, TCS, Nestle India were top index gainers

    09:24 (IST)28 Oct 2021
    Titan, ICICI Bank, Kotak Mahindra Bank top Sensex losers

    Titan Company was the top Sensex loser, down over 2 per cent, followed by Tata Steel, ICICI Bank, Axis Bank, ITC, Housing Development Finance Corporation (HDFC), State Bank of India (SBI), Kotak Mahindra Bank.

    09:21 (IST)28 Oct 2021
    Sensex, Nifty fall in red in opening deals

    BSE Sensex was trading 180 points or 0.3 per cent down at 60,955, while NSE Nifty gave up 18150 level to trade at 18140

    09:13 (IST)28 Oct 2021
    Petrol and diesel price Today: Petrol up Rs 6.65 per litre in October, diesel up Rs 7.15; Check price in metros here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were increased by oil marketing companies for the second consecutive day on Thursday. Petrol in the national capital today costs Rs 108.29 per litre, up by 35 paise since yesterday. Meanwhile, diesel in the capital city was retailing at Rs 97.02 per litre, up 35 paise. Petrol and diesel rates have increased 20 times so far in October. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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