Market Highlights: Bloodbath on Dalal Street, Sensex nosedives over 1,000 pts, Nifty gives up 11,700 as well

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Updated: October 15, 2020 4:20:51 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty were trading with losses on Thursday, following weaker global cues on Thursday.

Share Market Today, Share Market LiveSensex and Nifty erased over a week of gains as the nosedived over 2% today.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bringing their 10-day gaining spree to a screeching halt, BSE Sensex and Nifty 50 today tanked miserably and erased over a week of gains. Sensex dived down 1,066 points or 2,61% while Nifty gave up the 11,700 mark, which investors termed as crucial. Only Asian Paints remained in the green among all 30 Sensex stocks while all others slipped into the red. Bajaj Finance, Tech Mahindra were down over 4% each. IndusInd Bank, ICICI Bank, Kotak Bank, and SBI were down over 3% along with Reliance Industries.

BSE Midcap and Smallcap indices were down less than 2%, outperforming the benchmark. Volatility rose 9% to sit above 22 levels. Increasing lockdowns globally, delay in vaccine, and the limited stimulus at home and abroad are believed to have caused the sell off in stock markets today.

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Highlights

    16:19 (IST)15 Oct 2020
    Stock market investor left poorer by Rs 3.28 lakh crore as Sensex, Nifty halt gaining spree

    Sensex and Nifty erased all gains made since October 6 as they tanked over 2% lower on Thursday. Sensex dived 1,066 points or 2,61% while Nifty gave up the 11,700 mark, which investors termed as crucial. With this the 10-day gaining streak on the benchmark indices has come to screeching halt. On Sensex, only Asian paints shares were up with gains while the rest of the 29 stocks ended the day with losses. The volatility index jumped over 9% to sit above 22 levels. Technically, support for Nifty was placed in the range of 11,700-11,800 which has now been breached.

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    16:03 (IST)15 Oct 2020
    Terrible Thursday: Sensex sinks like Titanic, tanks 1,380 pts from day’s high; what halted 10-day D-St rally

    Indian share market benchmarks, BSE Sensex and Nifty 50 witnessed a sharp sell-off in the afternoon deals, erasing the gains made since October 7, 2020. With this, headline indices snapped their 10-day rally, halting the longest daily-winning streak in over a decade. As bears came haunting Dalal Street, BSE Sensex tumbled 1,380.58 points from day’s high and hit a day’s low of 39,667.47. During the intraday deals, Nifty 50 plummeted 364 points to hit day’s low of 11,661.30. At close, S&P BSE Sensex ended 1,066 points, or 2.61 per cent lower at 39,728.41 while the Nifty 50 index settled at 11,680.35, down 291 points, or 2.43 per cent.

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    15:55 (IST)15 Oct 2020
    Nifty resistance on upside is at 12000, support for medium term at 11500

    The break of 11800 proved to be quite severe in intensity as the markets dropped 150 points from that level. Traders are advised to maintain caution and not jump into long or short trades immediately. The resistance on the upside is at 12000 and the support for the medium term is at 11500: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:35 (IST)15 Oct 2020
    Sensex, Nifty erase over a week of gains

    Domestic benchmark Sensex gave up the 40,000 mark as it dives over 1,000 points today while the Nifty 50 slipped below the 11,700 mark which, analysts said, was the near term support. All Sensex constituents, except Asian Paints, were down in the red.

    15:27 (IST)15 Oct 2020
    European stock markets tumble on virus resurgence

    European leaders are scrambling to put a cap on surging infections in the region, with governments reimposing sweeping restrictions and shutdowns in an effort to curb the spread of the virus. The situation has got to a point now where, in the last 24 hours, France has declared a public health state of emergency, the U.K. is approaching a second national lockdown and Germany has introduced a raft of new rules in an effort to lower the infection rate: Asif Iqbal, Head Research, Escorts Research

    15:11 (IST)15 Oct 2020
    Sensex down over 1,000 points, Nifty gives up 11,700

    Sensex slipped further and tanked over 1,000 points while the Nifty 50 gave up the 11,700 mark just minutes before the closing bell on Thursday. 

    15:09 (IST)15 Oct 2020
    Boost to economy from new stimulus will be small

    "India’s very weak fiscal position has constrained its scope for discretionary stimulus spending in response to the coronavirus shock. We expect the general government debt burden to peak at around 90% of GDP in 2020, up from about 72% of GDP in 2019, which is significantly higher than the Baa median of around 59%," Moody's said. 

    15:08 (IST)15 Oct 2020
    Second round of stimulus will provide limited support to growth, says Moody's

    Global rating and research agency Moody's said that the stimulus measures announced by the government of India on October 12, will provide limited support to growth and highlights credit-negative fiscal constraints. "Notwithstanding the fiscal prudence of the measures, the small scale of the stimulus highlights limited budgetary firepower to support the economy during a very sharp contraction, a credit negative," Moody's said in a report. 

    14:59 (IST)15 Oct 2020
    Union Bank Of India's capitalization under strain post-merger: S&P Global

    S&P Global Ratings today said that the merger of Union Bank of India (BB+/Stable/B) with Andhra Bank and Corporation Bank in April 2020 has eroded its capital buffers. Tough operating conditions will further strain the bank's already weak capitalization.

    "We anticipate Union Bank's earnings will remain muted for the fiscal year ending March 31, 2021. The amalgamated entity could take more than two years to benefit from the significant improvement in scale and franchise, and generate superior profitability. Meanwhile, the sizable pile of stressed assets will likely drag on earnings," the rating agency said. 

    14:46 (IST)15 Oct 2020
    LTC Cash Voucher Scheme Calculation and Benefits: Here is all you need to know

    The Covid-19 pandemic has created many practical difficulties for all sets of people, and claiming LTC is one of the difficulties being faced by the salaried class. Like many other people, a number of Central government employees are not in a position to avail LTC as traveling within the country is practically difficult in the current Block of 2018-2021.

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    14:31 (IST)15 Oct 2020
    Rakesh Jhunjhunwala made over Rs 1,400 crore from these 7 stocks in July-September quarter

    Ace investor Rakesh Jhunjhunwala saw his net worth surge by over Rs 1,400 crore between July and September this year. While Sensex zoomed 10% during this phase, seven big names in the big bull’s mammoth portfolio outperformed the market, and helped him enjoy the benefits. These stocks include Titan Company Ltd, Escorts Limited, Crisil, Lupin, Rallis India, Jubilant Life Sciences, and Fortis Healthcare. However, it must be noted that shareholding data as of 30 September for Escorts and Jubilant has not been reported so far. Sensex and Nifty have been outperforming other emerging markets since April, despite the sluggish performance posted by them in the previous month.

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    14:28 (IST)15 Oct 2020
    Nifty 50 may slide further towards 11700-11550

    Nifty has broken the important support level of 11820, it may slide further towards 11700-11550, however on the higher side 11950-12050 are likely to act as resistance zone in the near term, once nifty manages to cross above 12050 it will resume its uptrend and can scale up towards 12200-12300: Rajesh Palviya, Head Technical & Derivatives, Axis Securities

    14:20 (IST)15 Oct 2020
    Sensex, Nifty erase a week of gains

    Bears came down to haunt Dalal Street on Thursday, erasing gains made since October 7. Sensex was down over 800 points just over an hour before the clsoing bell while Nifty was below the 11,800 mark. 

    14:14 (IST)15 Oct 2020
    SBI Cards m-cap inches closer to half of entire SBI’s market cap; share price hits new 52-week high again

    SBI Cards and Payment Services share price hit a new 52-week high of Rs 918.60 apiece, gaining nearly 3 per cent on BSE in otherwise weak trade on Thursday. The stock price has risen for the second consecutive day.

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    14:04 (IST)15 Oct 2020
    NIFTY has support between the 11720-11800 zone

    Speaking for today, the strike of 11800 level still continues to hold the highest PUT OI. Therefore, the markets are unlikely to go well below this unless a drastic shift if OI occurs. Looking at overall supports and resistances, the NIFTY has support between the 11720-11800 zone. If this breaches, then incremental downsides may happen. On the higher side, the levels of 12000 stay as a sacrosanct short-term intermediate top for the markets and a major resistance for the near term: Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst, Gemstone Equity Research & Advisory Services

    13:57 (IST)15 Oct 2020
    HCL Tech top Sensex loser; Tata Steel gains over 1.5%

    HCL Tech, Bharti Airtel, Tech Mahindra, Bajaj Finance, Infosys, Bajaj Finsv and RIL were top Sensex draggers. On the flip side, Tata Steel, NTPC, Asian Paint, Hindustan Unilever were leading the gainers.

    13:54 (IST)15 Oct 2020
    Sensex tumbles 650 pts, Nifty breaches 11,800 on downside

    After Moody's said that recent Rs 46,675 cr (0.2% of GDP) stimulus will provide limited support to growth, BSE Sensex tumbled over 650 points to trade at 40,104. While the Nifty 50 gave up 11,800 level.

    Check live Sensex, Nifty levels

    13:21 (IST)15 Oct 2020
    Sensex, Nifty look set break the 10-day gaining streak

    Sensex and Nifty could be on their way to break their 10-day rally as the plummeted close to 1% each. Nifty was below the 11,900 mark. IT stocks were the biggest drags. 

    13:17 (IST)15 Oct 2020
    Mid-market update:

    “Indian Indices Nifty and Sensex, down by 72 points (0.60%) and 288 points (0.72%) respectively. Indian Indices open negative on back negative global market clues but seen selling pressure in heavy weights during the 1st half of the day. Today S&P BSE Consumer Discretionary Goods & Services (up 0.45%), S&P BSE METAL (up 0.50%) while S&P BSE Information Technology (down 2.27%), S&P BSE Telecom (down 2.15%). We expect the market to trade under pressure. Global Market update - DOW Jones down by 165 points (down 0.58%) and NASDAQ down by 95 points (down 0.80%)," said Yash Gupta - Equity Research Associate, Angel Broking.

    12:26 (IST)15 Oct 2020
    Nifty IT index turns red despite strong Q2 by Infosys

    Today, IT index turned red despite strong Q2 result from Infosys indicates that investors are comparing risk-return trade-off on the back of elevated valuation. We expect technology demand to remain resilient in the medium term as enterprises accelerate their digital transformation programs. We also expect Indian IT industry to continue gaining market share from current 18%-20% of around $1 trillion global IT spending market: Suyog Kulkarni, Senior Research Analyst - IT services, Media and Internet at Reliance Securities

    12:22 (IST)15 Oct 2020
    Equitas Small Finance Bank IPO opens next week; check price band, lot size, other details

    Adding to the list of initial public offerings (IPO) in recent months, Equity Small Finance Bank today announced the launch of its public issue, which will open for subscription on October 20. At a price band of Rs 32-33 per share the issue size translates to Rs 518 crore, at the upper end. The issue includes a fresh issue of Rs 280 crore and an offer for sale for the remaining. The promoters, Equitas Holdings Limited will be selling 7.2 crore equity shares. Equitas Small Finance Bank, will be the ninth IPO to enter the primary market in recent months. So far all the public issues have been oversubscribed by retail investors.

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    12:22 (IST)15 Oct 2020
    Remembering APJ Abdul Kalam’s ‘Vision 2020’ on his birth anniversary; where does Indian economy stand?

    The nation remembers its 11th President, Dr. APJ Abdul Kalam in many forms – missile man, space scientist, nuclearization leader and people’s President. But one common trait which runs through all his roles was his unflinching optimism and devotion to being productive for the nation.

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    12:00 (IST)15 Oct 2020
    Top drags on Sensex

    Sensex was trading down by over 250 points at 12 PM, IT majors like Tech Mahindra, HCL Tech, TCS, Infosys were all trading with losses. Relaince Industries too was down over 1%. 

    11:42 (IST)15 Oct 2020
    Mukesh Ambani’s RIL receives Rs 5,550 crore from KKR for Reliance Retail Ventures; RIL shares fall

    Mukesh Ambani-controlled Reliance Industries Ltd on Thursday informed that it has received Rs 5,550 crore from global investment firm KKR for its retail business, Reliance Retail Ventures Ltd (RRVL). RIL shares were trading 0.71 per cent lower at Rs 2,268.15 apiece, as compared to a 0.45 per cent fall in the S&P BSE Sensex.

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    11:22 (IST)15 Oct 2020
    Asian stocks follow Wall St lower as stimulus hopes fade

    Asian stocks followed Wall Street lower on Thursday as hopes US leaders will agree on a new economic stimulus before the Nov 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism by Chinese internet users after the group’s leader thanked Korean War veterans for their sacrifices.

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    10:48 (IST)15 Oct 2020
    Rakesh Jhunjhunwala’s wife sold 50,000 Titan shares in Q2; Titan stock gains over 1% from day’s low

    Rakesh Jhunjhunwala’s favourite stock Titan Company gained 1.38 per cent from day’s low to Rs 1,229 apiece on BSE, after the company released a shareholding pattern for the period ended September 30, 2020. Earlier in the morning, Titan share price fell nearly 1 per cent in the opening deals. According to the data available with BSE, the big bull’s wife Rekha Jhunjhunwala has sold 50,000 shares of Titan Company in the July-September quarter of the current fiscal.

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    10:47 (IST)15 Oct 2020
    Gold may witness choppy trade as market players continue to assess developments

    COMEX gold trades modestly lower near $1900/oz after yesterday’s 0.7% gain. Gold bounced back once again after taking support near the $1880/oz level but is struggling to build on the momentum. Gold trades weaker weighed down by stable US dollar and uncertainty about US stimulus. ETF inflows show buying interest in gold however pace was modest. Gold may witness choppy trade as market players continue to assess development relating to US stimulus, Brexit and rising virus cases however we expect buying interest to emerge at lower levels as uncertainty about US economy may limit upside in US dollar: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    10:42 (IST)15 Oct 2020
    Motilal Oswal completes equity share buyback worth Rs 120 crore

    Brokerage and research firm Motilal Oswal completed the equity share buyback of 19.9 lakh equity shares worth Rs 120 crore. The average price at which shares were bought was Rs 630 per share. The highest price at which shares were bought was Rs 650 per share.  

    10:20 (IST)15 Oct 2020
    Infosys shares fall post quarterly results; but brokerages still recommend buy, check target price

    Shares of Information Technology (IT) giant Infosys opened nearly 4% higher on Thursday but soon erased all gains traded flat at Rs 1,130 per share. In the July-September quarter, Infosys posted a 20.5% on-year rise in net profit to Rs 4,845 crore. The surge in profits was aided by large deals that helped revenue jump 8.6% on year to Rs 24,570 crore. Infosys said that its  digital and cloud capabilities combined with intense client relevance is helping it achieve differentiated results. Overall revenue growth was at 2.2% on year and 25.4% growth was registered in the digital offerings.

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    10:18 (IST)15 Oct 2020
    Likhitha Infrastructure shares list at premium on BSE, NSE; stock price jumps over 8% on debut

    Likhitha Infrastructure share price jumped 8.4 per cent on the market debut day as the stock got listed at Rs 130.10 on BSE, a premium of Rs 10.10 on the upper band of the issue at Rs 116-120 per equity. On NSE, Likhitha Infrastructure shares were listed at Rs 130, an 8.3 per cent premium over IPO price. However, minutes after the listing, the premium of the oil and gas pipeline infrastructure service provider fell to 4.17 per cent and the stock was trading at Rs 125 apiece. LIVE PRICES

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    10:07 (IST)15 Oct 2020
    Nifty's intra day trend seems confusing?

    "The Nifty has opened this morning with less clarity in it's intra day direction. While the larger trend remains positive, the intra day trend seems to be a little confusing. We would need to get past 12030-12040 for an intra day move up and a break of 11800 would signal a move down. Until then, we could expect some rangebound movements with a positive bias," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:34 (IST)15 Oct 2020
    Midcap, smallcap indices outperform

    BSE Midcap and Smallcap indices were outperforming the benchmark Sensex, which was trading with losses. Similarly, Nifty Midcap 50 and Nifty Smallcap 50 too were surging higher while the benchmark was down with losses. 

    09:19 (IST)15 Oct 2020
    Sensex moves between gains and losses on opening

    S&P BSE Sensex opened flat on Thursday and was moving between gains and losses. Nifty 50 was still shy of 12,000 mark. Infosys was up 4% while Inox shares surged 6% on opening.

    09:10 (IST)15 Oct 2020
    Sensex up 250 points Nifty at 12,023 in pre-open

    Sensex gained to move past the 41,000 mark and Nifty moved past the 12,000 mark in the pre-opening session on Thursday. 

    09:04 (IST)15 Oct 2020
    Buy these two stocks for as much as 10% upside in 4 weeks; Nifty looks set to move past 12,000 mark

    After showing a consolidation type of movement in the last couple of sessions, Nifty witnessed sharp intraday weakness and also an excellent upside recovery on Wednesday and finally closed the day higher by 36 points. We observed a formation of small positive candle with long lower shadow, which indicates a sharp intraday upside bounce, after a steep decline during the early trade on Wednesday. This market could be a cheering factor for bulls to make a comeback, after a short pause in the market. But, the overall market breadth continued with weak trend and broad market indices like mid and small cap segments have failed to show any reasonable upmove.

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    09:01 (IST)15 Oct 2020
    Sensex, Nifty jump in pre-open session

    Benchmark indices gained during the pre-open session on Thursday, looking to beat the weak global cues. S&P BSE Sensex was up over 300 points while Nifty 50 was above the 12,000 mark. 

    09:01 (IST)15 Oct 2020
    Stocks in focus: Infosys, Titan, Lakshmi Vilas Bank, Hindustan Zinc, PVR, Likhitha Infra, Tata group stocks

    Infosys: Infosys posted better-than-expected earnings in the second quarter. Net profits were up 14.4 per cent sequentially at Rs 4,845 crore while operating income rose 16.1 per cent to Rs 6,228 crore.Titan Company: Big bull of market Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala sold 50,000 shares of Titan Company in the quarter ending September 30, according to a latest BSE filing.

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    08:42 (IST)15 Oct 2020
    Markets could open flat despite largely negative Asian markets today

    Indian markets could open flat despite largely negative Asian markets today and negative US markets on Wednesday. U.S. stock benchmarks extended their losing streak to a second day in a row Wednesday, as Congress and the White House wrangled over further pandemic aid and big banks kicked off third-quarter corporate earnings season with a cautious tone. Investors seemed glum over dimming stimulus hopes after Treasury Secretary Steven Mnuchin said Wednesday that it was unlikely a stimulus bill would pass before the election.

    ~ HDFC Securities

    08:38 (IST)15 Oct 2020
    Nifty/Bank Nifty Weekly expiry update ~ IIFL Securities

    On the options front (October 15, 2020 expiry), Nifty put option strikes added writing positions as the index trended higher.

    Nifty PCR stood at 1.42x vs 1.4x

    FII’s index future long/short ratio stood at 1.9x vs 2.7x

    FIIs were net buyers in the cash market segment to the tune of Rs 822 crore

    ~IIFL Securities

    08:24 (IST)15 Oct 2020
    TATAs going unicorn shopping with a BigBasket?

    Tata Group is in talks to tie up with Indian online groceries unicorn Big Basket, as the conglomerate attempts to catch up with rivals, including Amazon and Mukesh Ambani’s rapidly expanding retail empire, the Financial Times reported on Wednesday. Tata and Big Basket would make a decision on the deal by the end of October, FT reported, citing a person close to discussions. The newspaper wrote that another person with knowledge of the potential deal described it as a “strategic” relationship, with the conglomerate potentially acquiring a 20% stake and two board seats.

    Read full story

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