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Stock Market Highlights: Sensex, Nifty end on a flat note; Metal index shines, banks drag

Stock Market Highlights: Sensex, Nifty end on a flat note; Metal index shines, banks drag

Stock Market Highlights: Sensex, Nifty end on a flat note; Metal index shines, banks drag
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Summary

Stock Market Highlights: Indian indices swung in between gains and losses during the day to end on a little unchanged on Tuesday as banking, financials, pharma, and FMCG stocks turned negative soon after opening. Gains in metals were capped by losses in financials. Broader markets underperformed as compared to the benchmarks, ending lower than the main indices. 

Live Updates

Here are the key highlights from today's trading session:

1. Market fails to hold opening gains; Sensex & Nifty close flat

2. ITC, ICICI Bank & HUL drag market while Reliance, HDFC & TCS support

3. Sensex ends 8 points lower at 37,973 after a trading range of 400 points

4. Nifty slips 5 points to 11,222 & Midcap Index 25 points to 16,974

5. Nifty Bank fails the most amongst frontliners; closes 254 points lower at 21,411

6. Except HDFC Bank, all Nifty Bank constituents end lower; ICICI Bank, Axis Bank top losers

7. Metal stocks gain on healthy outlook; Hindalco, Tata Steel top gainers

8. Hero MotoCorp higher for 3rd straight day on reports of Harley Davidson agreement

9. Vodafone Idea closes with a cut of 5% ahead of the AGM

10. Bharti Airtel closes lower but off lows ahead of media briefing tomorrow

11. CEAT, JSPL, Page Industries, MindTree amongst top Midcap gainers

12. Market Breadth favours declines; advance-decline ratio at 3:4

Sept 29, 2020 3:41 PM

Housing sales rise 34% in Jul-Sept period; unsold inventory declines marginally


There seems some optimism is building up around the troubled housing sector that has suffered a setback following the COVID-19 induced lockdown. The good news is the sector has witnessed a spurt in housing sales during the July-September quarter, up 34 percent as compared to the April-June quarter.

According to a report by JLL Research, a total of 14,415 units were sold during the quarter ended September, as against 10,753 units sold during the previous quarter.

Mumbai accounted for 29 percent of the total sales in the quarter, while 22 percent of sales was contributed by Delhi NCR. Growth in sales activity was also driven by stronger demand in Chennai, Hyderabad and Pune. Read more

Sept 29, 2020 3:22 PM

Market Update | GMR Infrastructure board to consider raising up to Rs 350 crore via NCDs on October 3 to part refinance existing loans and for general corporate purposes.

Sept 29, 2020 3:02 PM
Likhitha Infrastructure IPO: Issue subscribed 42% on Day 1 so far
The initial public offer of Likhitha Infrastructure has been subscribed 42 percent so far on the first day of the bidding process, September 29.Get latest Market online at cnbctv18.com
Stock Market Highlights: Sensex, Nifty end on a flat note; Metal index shines, banks drag
Sept 29, 2020 2:43 PM

Housing sales rise 34% in Jul-Sept period; unsold inventory declines marginally

There seems some optimism is building up around the troubled housing sector that has suffered a setback following the COVID-19 induced lockdown. The good news is the sector has witnessed a spurt in housing sales during the July-September quarter, up 34 percent as compared to the April-June quarter.

According to a report by JLL Research, a total of 14,415 units were sold during the quarter ended September, as against 10,753 units sold during the previous quarter. Mumbai accounted for 29 percent of the total sales in the quarter, while 22 percent of sales was contributed by Delhi NCR. Growth in sales activity was also driven by stronger demand in Chennai, Hyderabad and Pune. Continue reading.

Sept 29, 2020 2:35 PM

'Not going anywhere': HDFC AMC's Prashant Jain on reports of exit from firm

HDFC AMC CIO and executive director Prashant Jain on Tuesday denied all the speculations and claims about his exit from the firm.

"I am not going anywhere," Jain said in an exclusive interview with CNBC-TV18.

Speaking about markets, Jain said value has underperformed growth in the market. He advised to be cognizant of current interest rates in the market.

"A fair bit of companies where the dividend yields will not just sustain, they will grow. In few spaces strong, large companies, which are not losing comparativeness, continue to grow,” he said.

Jain further added that it won't be difficult for equities to beat the low cost of capital in returns. Click here to read more

Sept 29, 2020 2:25 PM

Rupee Update: The Indian currency ended lower on Tuesday amidst a rangebound session. The rupee ended at 73.86 against the dollar as compared to Monday's close of 73.79.

Sept 29, 2020 2:16 PM

Zydus Wellness raises Rs 650 crore through issuance of shares to QIBs

FMCG firm Zydus Wellness on Tuesday said it has raised Rs 649.97 crore through issuance of equity shares to qualified institutional buyers (QIBs).

At q:45 pm, the shares of Zydus Wellness 1.12 percent higher to Rs 1,861.30 per share on the NSE. 

The qualified institutions placements (QIP) opened on September 23 and closed on September 28.

The finance and administration committee of the company has approved the issue and allotment of 38,46,000 equity shares to eligible QIBs at an issue price of Rs 1,690 per equity share (including a premium of Rs 1,680 per equity share), aggregating to Rs 649.97 crore, Zydus Wellness said in a regulatory filing. 

In August this year, Zydus Wellness' board had approved plans to raise up to Rs 1,099.98 crore through a combination of issuance of shares to its promoter Zydus Family Trust on a preferential basis and other options. 

It gave its approval to raise Rs 349.98 crore through issuance of 21,30,000 shares at price of Rs 1,643.10 per share to Zydus Family Trust. 

Further, the board has also approved raising funds up to Rs 750 crore by issuing securities of the company, including equity shares (or equivalent instruments including but not limited to compulsorily convertible debentures, non-convertible debentures with warrants) through a private placement or QIPs to QIBs or a combination thereof. 

Zydus Wellness offers brands such as Complan, Sugar Free, Nutralite and Everyuth.

Sept 29, 2020 2:02 PM

Power Ministry to move cabinet note on reducing power purchase cost, boost coal usage, sources say.

Sept 29, 2020 1:44 PM

Likhitha Infrastructure IPO opens today: Here are the key things to know

Likhitha Infrastructure Ltd's IPO opened for subscription on Tuesday at a price band of Rs 117-120. The initial public offering of the Hyderabad-headquartered Oil and Gas Pipeline Infrastructure service provider will close on October 1, Thursday. The shares are proposed to be listed on BSE and the National Stock Exchange on October 12. Unistone Capital is the book running lead manager to the issue.

The IPO consists of a fresh issue of up to 51 lakh equity shares representing 25.86 percent of the post issue shareholding. The company expects to raise a total amount of up to Rs 61.20 crore.

The price band has been fixed at Rs 117-120 per share. Read more

Sept 29, 2020 1:29 PM

Robust returns: This pharma stock turned Rs 1 lakh to Rs 22 lakh in 10 years


Caplin Points Labs has been a strong long-term performer giving robust return and steadily rising in the last 10 years. The pharma stock which traded around Rs 3 in 2010 has surged over 21,100 percent to quote at Rs 556 currently. To put it into perspective, an investment of Rs 1 lakh in the stock in 2010 would now be valued over Rs 22 lakh currently.

In the last one year as well, the stock has risen 35 percent and 95 percent in 2020 amid a general rise in the pharma stocks due to the coronavirus pandemic. In comparison, benchmark Nifty fell 2.5 percent during the last one year and has declined 8 percent since the beginning of this year.

The stock fell to its fresh 52-week low of Rs 180 on March 24, 2020, amid the pandemic-led selloff. However, it regained momentum and surged 280 percent to its 52-week high of Rs 686 earlier last month (August 7). Read more

Sept 29, 2020 1:14 PM

RBI Monetary policy committee meeting may be called in next 1-2 weeks as appointment of external members of MPC is likely to be done in 2-3 days

Sept 29, 2020 1:00 PM

Defence stocks rise after govt tweaks offset policy for military equipment deals

Defence stocks gained on Tuesday after the Centre tweaked the offset requirements for government-to-government defence deals and single-vendor contracts under a new policy unveiled on Monday. At 9:50 am, the shares of Bharat Dynamics rose as much as 4.4 percent higher to Rs 311.35 per share on the NSE. Meanwhile, Hindustan Aeronautics gained 2.6 percent to Rs 798.65, while BEML surged as much as 2.75 percent to Rs 634.25.

Defence Minister Rajnath Singh released Defence Acquisition Procedure (DAP) effective from October 1 that will allow the three forces to take on lease military equipment, hardware and platforms like helicopters, simulators and transport planes as per operational requirements.

Singh said the DAP has also included provisions to encourage foreign direct investment (FDI) to establish manufacturing hubs both for import substitution and exports while protecting the interests of Indian domestic industry.

Sept 29, 2020 12:46 PM

What the grey market premium is suggesting for upcoming IPOs

The market is going to be busy with UTI AMC, Mazagon Dock Shipbuilders, and Likhitha Infrastructure IPOs launching on September 29. On the other hand, the grey market, is not only busy, but cautious as well.

The unofficial grey market price of an IPO is the best indicator of how market perceives an IPO. It is the rate of premium an IPO commands in the informal market.

UTI AMC, the second-largest Asset Management Company -- due to close on October 1 -- has priced its offer between Rs 552 and Rs 554 per share. This issue comprises of 3,89,87,081 equity shares with a face value of Rs 10 per share. Read more

Sept 29, 2020 12:28 PM

Mazagon Dock IPO fully subscribed

Stock Market Highlights: Sensex, Nifty end on a flat note; Metal index shines, banks drag
Sept 29, 2020 12:10 PM