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Market Live Updates: Sensex down 200 points, Nifty hovers near 17,750-mark; Metals, pharma, autos drag

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Share/Stock Live Updates: The benchmark equity indices on the BSE and National Stock Exchange (NSE) reversed their morning gains and slipped lower in the afternoon trade on Wednesday.

1:52 pm, the S&P BSE BSE Sensex was trading at 59,521.87, down 223.01 points (0.37 per cent) while the Nifty 50 was at 17,747.65, down 74.65 points (0.42 per cent). Both the indices had opened higher earlier in the day and traded in the positive territoty throughout the morning session.

On the Sensex pack, Titan Company, IndusInd bank, Bajaj Auto, Sun Pharmaceutical Industries, HCL Technologies and Tata Steel were the top laggards in the afternoon session. On the other hand, HDFC twins comprising of HDFC Bank and Housing Development Finance Corporation (HDFC), Bajaj Finance, Axis Bank, Tata Consultancy Services and Kotak Mahindra Bank were the top gainers.

Among the sectoral indices on NSE, the Nifty Metal index was down over 2 per cent dragged by National Aluminium Company and Hindalco Industries. The Nifty Pharma index was down nearly 1.5 per cent weighed by Abbott India and Glenmark Pharmaceuticals. The Nifty Auto index too slipped over 0.5 per cent driven by TVS Motor Company and Tube Investments of India.

(with inputs from agencies)

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

India’s monetary policy committee is widely expected to keep the repo rate unchanged to support recovering growth on Friday, but some analysts have cited a slim chance of the Reserve Bank of India delivering a token increase in the reverse repo rate.

All 60 forecasters in a Reuters poll said they see no change in the repo rate on Oct. 8. and though price pressures have soared due to rising fuel prices the RBI is only expected to raise the repo rate in April-June 2022. Click here to read

Highlighting that India’s downside risks from negative feedback between the real economy and the financial system are receding, ratings agency Moody’s Tuesday changed India’s sovereign rating outlook from ‘negative’ to ‘stable’, while affirming its foreign-currency and local-currency long-term issuer ratings at Baa3.

“With higher capital cushions and greater liquidity, banks and non-bank financial institutions pose much lesser risk to the sovereign than Moody’s previously anticipated. And while risks stemming from a high debt burden and weak debt affordability remain, Moody’s expects that the economic environment will allow for a gradual reduction of the general government fiscal deficit over the next few years, preventing further deterioration of the sovereign credit profile,” the credit rating agency said. Click here to read

Cooking gas LPG price on Wednesday was hiked by Rs 15 per cylinder in line with a surge in international fuel prices.

Rates of both subsidised and non-subsidised LPG prices were hiked, oil company officials said.

Cooking gas now costs Rs 899.50 per cylinder in Delhi. Click here to read

The initial public offering (IPO) of Aditya Birla Sun Life AMC was subscribed 5.25 times over the 2.78 crore shares that were on offer during the subscription period from September 29-October 1, 2021. The price band was fixed at Rs 695-712 per share.

Investors are now looking forward to the share allotment date of the Aditya Birla Sun Life AMC IPO. The company is expected to finalise the allotment by Wednesday, October 6, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Aditya Birla Sun Life AMC IPO, then here is how you can check the status of your allotment when it gets declared

The Indian rupee depreciated 21 paise to 74.65 against the US dollar in opening trade on Wednesday, as rising crude prices and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened on a weak note at 74.63, then fell further to 74.65, registering a decline of 21 paise from the last close.

On Tuesday, the rupee had settled at 74.44 against the US dollar.

(PTI)

Prices of petrol and diesel touched new record high marks after they were hiked for the second consecutive day across the country on Wednesday, October 6, 2021. In the national capital, the petrol price rose 30 paise while diesel inched up 35 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 102.94 a litre while diesel is selling at Rs 91.42. In the financial capital Mumbai, petrol price now stands at Rs 108.96 while diesel costs Rs 99.17, data available on Indian Oil Corporation’s website showed.

In Lucknow, the price of petrol touched the three-figure mark for the first time and hit Rs 100.01 a litre on Wednesday. Click here to read

Asian shares dropped on Wednesday, reversing early gains, as analysts said sky-high oil prices meant stocks were quick to react to any hint of bad news such as a rate hike by New Zealand’s central bank.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%, while Japan’s Nikkei lost 1.66%, having risen more than 1% in early trade.

There were falls in Hong Kong off 0.77%, Korea down 0.98% and Australia 0.8% lower, and  U.S. stock futures, the S&P 500 e-minis shed 0.45%.

(Reuters)

Sensex rises 131.76 pts to 59,876.64 in opening session; Nifty advances 46.75 pts to 17,869.05.

(PTI)

Tuesday, the frontline equity indices on the BSE and National Stock Exchange (NSE) had staged a sharp recovery after a poor start and ended 0.75 per cent higher led by gains in market heavyweight Reliance Industries (RIL) along with information technology (IT) and banking stocks.

The S&P BSE Sensex climbed 445.56 points (0.75 per cent) to end at 59,744.88 while the Nifty 50 settled at 17,822.30, up 131.05 points (0.74 per cent). Both the indices had opened in the negative territory tracking global cues but later swung into the green during the afternoon trade.

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