homemarket Newsstocks News

Stock Market Highlights: Sensex tumbles over 300 points but holds 60,000 mark, Nifty50 slips below 17,900

Stock Market Highlights: Sensex tumbles over 300 points but holds 60,000 mark, Nifty50 slips below 17,900

Stock Market Highlights: Sensex tumbles over 300 points but holds 60,000 mark, Nifty50 slips below 17,900
Read Time
Summary

Stock Market LIVE Updates: Indian equity benchmarks Sensex and Nifty50 began Wednesday's session on a negative note tracking weakness across other Asian markets. Losses in oil & gas, IT and select financial stocks pulled the headline indices lower, though gains in automobile and consumer shares lent support. Broader markets were mixed with the smallcap index up 0.3 percent but the midcap gauge down 0.2 percent.

Live Updates

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on November 17. Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on FacebookLinkedInInstagram and Telegram

Download our mobile app for Android and iOS platforms

Nov 17, 2021 5:06 PM

Key support for Nifty50 at 17,800: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, sees key support for the Nifty50 index at 17,800. "The Nifty witnessed sustained selling pressure for yet another session. An intraday bounce faced resistance near the key hourly moving averages and the 20-day moving average. From there, the index nosedived towards the end of the session. As a result, Nifty has entered the near-term support zone of 17,900-17,800. The hourly chart shows that the index has reached lower end of the rising channel with a minor breach on the downside," he said. 

He sees scope for a bounceback as long as the index holds 17,800 on a closing basis, and a near-term hurdle is at 18,000-18,050 levels.

Nov 17, 2021 5:05 PM

Like Fortis from hospital space: Mayuresh Joshi 

Mayuresh Joshi of William O'Neil continues to like Fortis from the hospital space. "The hospital space has delivered a very good set of numbers. So I think you take instance of Apollo Hospitals, Fortis or Max Healthcare, I think all numbers have been extremely good... A lot of managements in their conference calls have actually mentioned that the non-COVID revenues and OPD surgeries that were missing will start coming through significantly. And the average length of stay is also coming down, which probably means that the kind of capex that they're putting in, in bed additions, as well as the asset light model in terms of managing the beds, these dynamics will keep on improving over the next few quarters," he said. 

"The diagnostics part of the businesses which these hospital chain have is also showing significant signs of improvement as well as the EBIT contribution from new hospitals... Valuations are on the higher side but again, the earnings trajectory might probably get maintained. So anybody holding on to Apollo Hospitals should hold on, maybe you could trail your stop losses a little bit. Again, looking from a PAT perspective, at this juncture, I think Fortis healthcare is something that we like the arguments very, very similar to what I put out," Joshi added.

Nov 17, 2021 5:00 PM

Market At Close | Asian Paints rises after brokerages give thumbs up to price hike

Here are some highlights: 

--Nifty Bank slips 266 points to 38,042, midcap index drops 214 points to 31,729

--Reliance Industries, financial stocks remain a drag; auto stocks support

--Maruti, Tata Motors top Nifty gainers for 2nd straight day

--Asian Paints rises after brokerages’ positive stance following price hike

--Nifty Bank slips 266 points to 38,042, midcap index drops 214 points to 31,729

--SBI Life top Nifty gainer, followed by Asian Paints, Maruti, Tata Motors

--UPL, RIL, Cipla, Britannia, IOC & Coal India top Nifty losers

--Apollo Hospitals continues to gain momentum post Q2 earnings, up 13% 

--Birlasoft, Tata Power, Firstsource, Coforge, Biocon top midcap gainers

--Realty stocks see selling trade; Godrej falls 4%, DLF 2%

--Chambal Fertilisers, Thermax, Petronet, MCX, Glenmark top midcap losers

--Market breadth favours bears; NSE advance-decline ratio at 2:3

Nov 17, 2021 4:13 PM

Market At Close | UPL, Reliance Industries, Cipla, Britannia top Nifty laggards; Asian Paints, Maruti Suzuki, SBI Life top gainers

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Nov 17, 2021 3:56 PM

Closing Bell | Sensex down 314 points, Nifty50 below 17,900

The 30-scrip Sensex index ended 314 points or 0.5 percent lower at 60,008.3 and the broader Nifty50 benchmark settled at 17,898.7, down 100.6 points or 0.6 percent from its previous close. (Read more on the closing bell)

Nov 17, 2021 3:38 PM

Bharat Dynamics wins Rs 171 crore order, shares jump

The Bharat Dynamics stock recovered intial weakness to gain more than two percent after the news. In the last hour of trade, Bharat Dynamics shares were up 2.4 percent at Rs 426.7 apiece on BSE.

Nov 17, 2021 3:04 PM

Welspun Corp, Apollo Hospitals, Lux, Birlasoft top BSE500 gainers, up 8-12%

Welspun Corp, Apollo Hospitals, Lux Industries, Birlasoft, KPIT Tech, Varroc Engineering and Rajesh Exports were the top performers among the almost 200 gainers in the broadest index on BSE. 

On the other hand, Lemon Tree, Eris Lifesiences, Godrej Properties, Bhambal Fertilisers, Mazagon Dock Ship, Indus Towers and Petronet, trading between 3.5 percent and 4.6 percent lower, were among the laggards.

Nov 17, 2021 2:52 PM

Targetting December for handing over Air India to Tata Group: DIPAM Secretary
 

Nov 17, 2021 2:35 PM

Macro focus exclusively on growth, wealth creation: Economic Affairs Secretary

The macroeconomic focus is exclusively on growth and wealth creation, the Economic Affairs Secretary said. Economic growth has to come from virtuous growth from the private sector, the official said. 

Business travel is still far from pre-pandemic levels, the Economic Affairs Secretary added. 

Nov 17, 2021 2:15 PM

BEL maintains revenue growth expectation at 15-17%, EBITDA margin at 20-22%

BEL's Dinesh Kumar Batra said an interaction with CNBC-TV18 that the September quarter compensated for the disruptions faced by the company in the previous three months. The company maintains its expectations on revenue growth at 15-17 percent and on EBITDA margin at 20-22 percent, he said. 

Stock Market Highlights: Sensex tumbles over 300 points but holds 60,000 mark, Nifty50 slips below 17,900
Nov 17, 2021 2:07 PM

ITC, Infosys, Asian Paints, Maruti Suzuki top Sensex movers

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Stock Market Highlights: Sensex tumbles over 300 points but holds 60,000 mark, Nifty50 slips below 17,900
Nov 17, 2021 1:58 PM

BEL To CNBC-TV18

Q2 compensated for the disruptions in Q1. Developing key elements in smart cities. Have a strong base of developing embedded software, says Dinesh Kumar Batra of BEL.

Nov 17, 2021 1:57 PM

Ramani Dathi, TeamLease On CNBC-TV18

We have added 25,000 accounts in this quarter. The demand and business outlook is robust. There is a net one percent shortfall in interest which is Rs 14-15 crore per annum.

Nov 17, 2021 1:54 PM

JSW Steel added to Dow Jones Sustainability Index

JSW Steel, the flagship firm of the diversified US$ 13 billion JSW Group, has been selected for inclusion in the S&P Dow Jones Sustainability Index (DJSI) for Emerging Markets for 2021. JSW Steel is one of 15 Indian firms in the DJSI EM Index, which includes 108 companies worldwide. 

Nov 17, 2021 1:39 PM

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng