Sensex crashes by 839 points on geopolitical tensions, bank stocks hit badly
Video Credit: ANI - Duration: 01:15s - Published
Sensex crashes by 839 points on geopolitical tensions, bank stocks hit badly
Equity benchmark indices erased all morning gains and cracked by over 2 per cent on geopolitical concerns and ahead of the GDP first-quarter data.
At the closing bell, the BSE SandP Sensex was down by 839 points or 2.13 per cent at 38,628 while the Nifty 50 lost by 305 points or 2.62 per cent at 11,342.
All sectoral indices at the National Stock Exchange were in the red with Nifty pharma losing by 5.2 per cent, PSU bank by 5 per cent, private bank by 3.6 per cent metal by 4.2 per cent and realty by 4.8 per cent.
The other prominent losers were Bajaj Finserv, Bajaj Finance, Zee Entertainment and NTPC.
However, Future Retail was up by 20 per cent to Rs 162.30 per share after Mukesh Ambani-led Reliance Industries said it will acquire the company's retail, wholesale, logistics and warehousing business for Rs 24,713 crore.
Finance Minister Nirmala Sitharaman said India's Gross Domestic Product (GDP) growth for the current fiscal 2020-21 will be in negative or near zero, owing to the coronavirus pandemic. The Finance Minister was speaking at the 4th Annual India Energy Forum by CERAWeek on Oct 28. She further said, "Festival season has commenced in India, as a result of which I expect the demand to go up and therefore, be sustainable also." Sitharaman added, “Foreign Direct Investment (FDI) inflow have seen 13 per cent growth in Covid-19 affected April-August 2020 compared to April-August 2019.” Watch the full video for more details.
Credit: HT Digital Content Duration: 01:47Published
The Governor of Reserve Bank of India (RBI), Shaktikanta Das on October 09 announced that Gross Domestic Product (GDP) is expected to decline by 9.5% in 2021. "For the year 2021, real GDP is expected to decline by 9.5% with risks tilted towards the downside," said Shaktikanta Das, RBI Governor, while addressing a press conference. "Our assessment is that inflation will remain elevated in September but ease gradually towards the target over Q3 and Q4. Our analysis also suggests that supply disruptions and associated margins and markups are the major factors driving up inflation," Shaktikanta Das added.
Equity benchmark indices opened in the red on Thursday with Sensex down by 282.75 points and Nifty down by 81.10 points. At 9:16 am, the 30-scrip BSE Sensex was down by 282.75 points or 0.64 per cent at 43,897.30. Similarly, 50-scrip NSE Nifty was trading at 12,857.15, at 9:16 am, down by 81.10 points or 0.63 per cent. Reliance share opened at 1,987.20 and recorded 2010 as high of the day till 9.40.
Bharatiya Kisan Union (BKU) farmers protested at MBD Mall in Ludhiana over farm laws and closed the reliance stores at the mall. Farmers in Punjab have been protesting against the three agriculture laws - The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act, 2020, and The Essential Commodities (Amendment) Act, 2020- since they were passed by the Parliament. Recently, Punjab Assembly had passed a resolution rejecting three farm laws enacted by the central government with Chief Minister Captain Amarinder Singh, later leading a delegation to Governor VP Singh Badnore urging him to give his assent to three new bills by the assembly.
Equity benchmark indices shaved off early gains but closed in the positive zone on Thursday following a rally in IT stocks amid dynamic global cues. The BSE SandP Sensex closed 304 points or 0.76 per cent at 40,183 while the Nifty 50 gained by 96 points or 0.83 per cent at 11,835. Tata Consultancy Services rose by 3 per cent to Rs 2,819 per share after reporting 6.6 per cent sequential growth to Rs 7,475 crore in the July to September quarter. It also decided to buy back up to 2.2 billion dollars in shares. HCL Technologies and Infosys were up by 2.6 per cent each. Pharma major Cipla ticked up by 4.9 per cent, Sun Pharma by 2.3 per cent and Dr Reddy's by 1.9 per cent. However, energy majors GAIL and ONGC dipped by 3 per cent and 2.8 per cent respectively. Eicher Motors, ITC, Asian Paints and Reliance Industries too traded with a negative bias. Meanwhile, Asian shares climbed to a one-month high as renewed hopes for more US stimulus helped restore investor confidence. Japan's Nikkei added 0.96 per cent while South Korea's Kospi moved up by 0.21 per cent. But Hong Kong's Hang Seng fell by 0.56 per cent.
Equity benchmark indices opened flat on Friday with Sensex up by 105 points and Nifty up by 23 points. At 10:05 am, the BSE S-P Sensex was up by 105 points or 0.26 per cent at 39,833 while the Nifty 50 gained by 23 points or 0.20 per cent at 11,730. Among stocks, BPCL rose by 2.28 per cent. Indusind Bank was up by 1.28, Kotak Bank up by 1.18 per cent, HDFC Bank up by 0.95 per cent and ICICI Bank up by 0.88 per cent. However, the stocks trading with a negative bias were UPL, HCL Tech, Tech Mahindra and Nestle India.
Equity benchmark indices were flat during early hours on Tuesday tracking Asian peers which witnessed downside in early deals. At 10:15 am, the BSE SandP Sensex was up by 40 points or 0.1 per cent at 40,634 while the Nifty 50 gained by 23 points or 0.2 per cent at 11,954. Sectoral indices at the National Stock Exchange were mixed with thin margins with Nifty private bank down by 0.7 per cent and PSU bank by 0.6 per cent. But Nifty FMCG and IT rose by 0.5 per cent each. Among stocks, the early gainers were Dr Reddy's, Asian Paints, Eicher Motos, Kotak Mahindra Bank and Bharti Airtel.However, ICICI Bank fell by 2.3 per cent to Rs 394.75 per share while IndusInd Bank, Axis Bank and State Bank of India traded lower with thin margins.Meanwhile, Asian shares slipped despite a firmer Wall Street lead with a buoyant tech sector and fresh optimism about US stimulus expected to continue to support sentiment.
Equity benchmark indices traded firm during early hours on Monday with gains seen in Asian markets on hopes that US President Donald Trump could be discharged from hospital later in the day after responding well to COVID-19 treatment. At 10:15 am, the BSE SandP Sensex was up by 424 points or 1.09 per cent at 39,121 while the Nifty 50 gained by 120 points or 1.06 per cent at 11,537.Except for Nifty auto, all sectoral indices at the National Stock Exchange were in the green with Nifty IT moving up by 3 per cent, private bank by 2.3 per cent and metal by 2.1 per cent. Among stocks, Wipro jumped by 5.5 per cent to Rs 330.25 per share, Tata Consultancy Services by 4.2 per cent, Infosys by 3 per cent, HCL Technologies by 2.1 per cent and Tech Mahindra by 1.6 per cent.The other prominent gainers were Tata Steel, JSW Steel, IndusInd Bank, ICICI Bank and Axis Bank. However, Mahindra and Mahindra, GAIL, ONGC, Asian Paints, Cipla and Bharti Airtel traded with a negative bias.
SBI chairman Dinesh Kumar Khara spoke on the situation in the real estate sector post the lockdown at the 18th edition of the Hindustan Times Leadership Summit 2020. He said that there is significant demand across the country in the affordable housing and added that there is a lot of capacity in the real estate sector. ‘May be in deluxe ones the demand may not be as strong, but in affordable housing there is a lot of promise going forward,’ Khara added. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:53Published
SBI chairman Dinesh Kumar Khara spoke on the Yes Bank and the more recent Lakshmi Vilas Bank crisis at the 18th edition of the Hindustan Times Leadership Summit. Khara said that the system is maturing and the lessons are being looked into by the regulator and the managements as well. He said that such steps should ensure that similar situations do not arise in the future. Khara also spoke on the health of the banking system and the state of non-performing assets and the impact of regulations like the insolvency law. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:55Published
SBI chairman Dinesh Kumar Khara spoke on the RBI Internal Working Group’s recommendation to allow Indian corporate houses into banking at the 18th edition of the Hindustan Times Leadership Summit. Khara said that a lot of it depends on corporate governance, related party transactions and exposure limits. ‘As long as these things are imposed either through regulations or oversight mechanisms, the banking system should not have much of an issue,’ Khara said. The SBI chairman also said that a very important aspect is the implementation of laws by the management as well. Watch the full video for all the details.
Credit: HT Digital Content Duration: 03:13Published
SBI chairman Dinesh Kumar Khara spoke on the state of the economy, the way forward and the RBI proposal to allow business houses into banking at the 18th edition of the Hindustan Times Leadership Summit 2020. Khara said that second quarter has seen some change and there is a revival in demand post the unlock announcement by the government. On the RBI’s proposal to allow corporate houses into banking, Khara said that as long as corporate governance is tight the ownership structure should not be much of an issue. The SBI Chairman also spoke on the recent Yes Bank crisis and the state of MSMEs in the post lockdown world. Watch the full video for all the details.
Credit: HT Digital Content Duration: 32:28Published
Equity benchmark indices opened in the green on November 26 (Thursday) with Sensex up by 148.33 points and Nifty up by 40.80 points. At 9:17 am, the 30-scrip BSE Sensex was up by 148.33 points or 0.34 per cent at 43,967.59. Similarly, 50-scrip NSE Nifty was trading at 12,899.20, at 9:17 am, up by 40.80 points or 0.32 per cent.
Equity benchmark indices opened in the green on Wednesday with Sensex up by 277.40 points and Nifty up by 84.85 points. The domestic stock markets opened on a positive note today, building on the record closing highs registered in the previous session. At 9:16 am, the 30-scrip BSE Sensex was up by 277.40 points or 0.62 per cent at 44,749.73. Similarly, 50-scrip NSE Nifty was trading at 13,140.00, at 9:16 am, up by 84.85 points or 0.65 per cent.
Equity benchmark indices opened in the green on November 24 with Sensex up by 208.50 points and Nifty up by 72.25 points. The benchmark indices BSE Sensex and NSE Nifty opened higher for the second consecutive day as COVID-19 vaccine progress has shored up the global sentiment. At 9:16 am, the 30-scrip BSE Sensex was up by 208.50 points or 0.47 per cent at 44,341.19. Similarly, 50-scrip NSE Nifty was trading at 12,998.70, at 9:16 am, up by 72.25 points or 0.56 per cent.
Equity benchmark indices witnessed a sharp recovery in the last hour of trading session on October 14 and closed in the green led by a rally in financial and banking scrips. The BSE S-P Sensex closed 169 points or 0.42 per cent higher at 40,795 while the Nifty 50 was up by 37 points or 0.31 per cent at 11,971. Except for Nifty auto, IT and pharma, all sectoral indices at the National Stock Exchange were in the green with Nifty financial service up by 1.7 per cent, private bank by 1.3 per cent and PSU bank by 0.6 per cent. Among stocks, Bajaj Finserv gained by 4.1 per cent to close at Rs 6,108.10 per share and Bajaj Finance by 2.8 per cent at Rs 3,364.50.
Equity benchmark indices tumbled over half per cent during early hours on October 14 tracking Asian peers as halted COVID-19 vaccine trials soured investor risk appetite. Besides, the International Monetary Fund (IMF) revised its projection of contraction in India's GDP for current fiscal year to 10.3 per cent from 4.5 per cent earlier, citing a rise in COVID-19 cases. At 10:15 am, the BSE SandP Sensex was down by 232 points or 0.6 per cent at 40,393 while the Nifty 50 lost by 88 points or 0.73 per cent at 11,847. All sectoral indices at the National Stock Exchange were in the red zone with Nifty private bank down by 1 per cent, PSU bank by 0.7 per cent, IT by 1.1 per cent and metal by 0.9 per cent. Among stocks, Wipro slipped by 6.5 per cent to Rs 351.45 per share despite improving its performance in the second quarter of FY21 on several parameters.
A huge python was rescued by the forest officials in Greater Noida. The 10-feet long reptile was found on Tuesday at the NTPC plant. A group of rescuers were seen trying to put the python inside a sack. The snake was later released into the wild by the forest department. Last week, a leopard was spotted at the NTPC plant in Greater Noida. The leopard was captured in trap cameras installed at NTPC plant area.
Credit: HT Digital Content Duration: 01:22Published
A leopard was spotted roaming freely in Uttar Pradesh's Greater Noida. After receiving information about possible leopard presence in the area, the forest department had set up trap cameras at the National Thermal Power Corporation plant. Trap cameras take photographs when triggered by movement. Divisional Forest Officer of Gautam Buddha Nagar said that cages were being set up in the area to safely capture the leopard. The forest department also issued an advisory. Meanwhile, in Telangana's Ranga Reddy, a leopard was captured successfully. Forest department officials reportedly handed the big cat over to the Nehru Zoo Park. The caged wild feline was seen being loaded onto a truck. Watch the full video for more.
Credit: HT Digital Content Duration: 02:45Published