Market LIVE Updates: Sensex, Nifty strongly back in green; banking top drag – Mint

NEW DELHI :
Benchmark indices are back in the green after slipping into red for a while. Broad market indices were all in the green. IT, Media and realty were among top gaining sectors with consumer durables, oil and gas, realty, power, capital goods, industrials and basic materials.  

08 Nov 2021, 01:54:24 PM IST

BNY Mellon cuts ties with Adani’s coal mine flagship

Bank of New York Mellon Corp. will sever ties with billionaire Gautam Adani’s contentious Carmichael thermal coal mine in Australia, the latest global financial institution to distance itself from the project. “BNY Mellon has decided to resign from all legacy transactions with Adani in Australia and will not pursue additional transactions,” the US lender said in a statement. “BNY Mellon has determined this business is not aligned with our ESG principles.” Adani Group didn’t immediately respond to an email seeking comment. Bloomberg

08 Nov 2021, 01:50:51 PM IST

NCLT approves GAIL’s acquisition of IL&FS stake in OTPC

The National Company Law Tribunal (NCLT) has granted approval to GAIL for it to acquire 26% equity stake currently held by Infrastructure Leasing & Financial Services (L&FS) group in ONGC Tripura Power Co. Ltd. The stake is being held by IL&FS Group companies IL&FS Energy Development Company Ltd (EDCL) and IL&FS Financial Services Ltd (IFIN). 

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08 Nov 2021, 01:37:29 PM IST

Broad market supports gains

Consumer durables, oil and gas, realty, power, capital goods, industrials and basic materials over 1% gains. Healthcare, banking drag

Source: BSE

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Source: BSE
08 Nov 2021, 01:28:16 PM IST

Top picks: Angel One Ltd

Source: Angel One Ltd.

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Source: Angel One Ltd.
08 Nov 2021, 01:14:27 PM IST

Sensex, Nifty increase gains

Sensex crossed the 60,400 mark, while Nifty was above 18,000 at 1:10 pm.

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08 Nov 2021, 01:00:27 PM IST

BSE Consumer Durables gain over 2%

BSE Consumer Durables index gained over 2%, led by Whirlpool and Titan. Titan gained over 4% on the back of uptick in gold demand amid festivities.

Source: BSE

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Source: BSE
08 Nov 2021, 12:47:33 PM IST

Currency update: Heena Naik, research analyst-currency, Angel One Ltd

Sterling pound

The Sterling pound plunged by around 2.50%, touching the lower levels of 1.3422 in the last week. This negative trend impacted GBP-INR as well which saw a fall of around 1.50% touching the lower levels of 99.73 in the holiday-shortened week last week. Reason for the same could be attributed to the release of the BoE Monetary Policy Statement where the committee surprised the markets by leaving the policy rate unchanged.

Markets had expected the BoE to hike interest rates in the face of the inflation threat, but the central bank’s Monetary Policy Committee voted 7-2 in favour of keeping the key rate at 0.1%. BOE concluded that the existing stance of monetary policy remained appropriate. The BoE’s decision prompted a big drop in yields. Defending his position, the Bank of England (BOE) Governor Andrew Bailey stated that his remarks on the need to curb inflation before the meeting were “conditional”. Keeping the above factors in mind, there is a possibility that GBP-INR (CMP: 100.08) may continue to trade with a bearish bias towards 99.00 levels amidst Brexit concerns and BOE’s dovishness.

08 Nov 2021, 12:27:32 PM IST

IPO note-Sapphire Foods: Amarjeet Maurya, AVP-mid caps, Angel One Ltd

Sapphire Foods is YUM’s largest franchisee operator in the Indian subcontinent with revenue from operations of 1,340 crore and 1,020 crore for the financial years 2020 and 2021, respectively. As of 30 June, they owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and 2 Taco Bell restaurants in Sri Lanka. Total number of restaurants are 450 as of 30 June. 

Positives: Sapphire is YUM’s largest franchise operator in the Indian subcontinent in terms of revenue. It has a portfolio of well-recognized global brands across spectrum. It has a scalable business model and an experienced board and senior management team.

Investment concerns: SFIL is making continuous losses on bottom-line front, hence profit concerns remain; slowdown in the economy could impact the overall revenue of the company (discretionary in nature).

Outlook and valuation: In terms of valuations, the post-issue FY21 EV/sales works out 7.4x to (at the upper end of the issue price band), which is low compared with peers Devyani International (FY21 EV/Sales -16.3x). Further, Sapphire Foods India has a better revenue per store compared to Devyani International. On the EBITDA front, the company is continuously showing improvement. Considering all the positive factors, we believe this valuation is at reasonable levels. Thus, we recommend a subscribe rating on the issue.

08 Nov 2021, 12:20:02 PM IST

Zomato in advance talks to invest in Shiprocket: Report

Money Control has reported that Zomato is likely to pump in $75 million in a $200 million round.

08 Nov 2021, 12:13:57 PM IST

Sensex, Nifty back in green at noon

Source: BSE, NSE.

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Source: BSE, NSE.
08 Nov 2021, 12:07:41 PM IST

BSE Midcap Select Index

The index has seen close to 1% gain cumulatively. It has 19 advances and 11 declines.

Source: BSE

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Source: BSE
08 Nov 2021, 11:57:25 AM IST

Muthoot Finance among Group A stocks gaining near 10%

Source: BSE

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Source: BSE
08 Nov 2021, 11:54:05 AM IST

One97 Communications IPO

Retail individual investors have subscribed 0.43 times of the shares allotted for the category. 2,310 shares of the 26,394,231 allotted for the Qualified Institutional Investor category have been subscribed, while 53,076 of the 13,197,115 allocated for the non-institutional investors category have been subscribed as of 11:50 am.

Source: BSE

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Source: BSE
08 Nov 2021, 11:39:04 AM IST

SoftBank reports $3.5 billion net loss in Q2

SoftBank Group Corp slipped into the red with a 397 billion yen ($3.5 billion) loss for the July-September quarter, hit by falling valuations in the tech portfolio of its Vision Fund unit. The loss compared with a profit of 628 billion yen in the same period a year earlier.

08 Nov 2021, 11:34:10 AM IST

Consumer durables up over 1%, Bankex, healthcare down over 1%

08 Nov 2021, 11:25:39 AM IST

Pfizer’s covid pill is shaking up the global recovery trade

Shares tied to reopening trades from casinos to airlines surged in Asia on Monday after Pfizer Inc. said that its covid-19 pill could reduce hospitalizations and deaths in high-risk patients by 89%. A Bloomberg gauge of Macau casino shares jumped 7.2%, the biggest move in over two months, while an index of Asia-Pacific airline stocks rallied as much as 5.5%, the most since March. Luggage manufacturer Samsonite International SA climbed 15% in Hong Kong. The buying frenzy in Asia—which tracks gains among similar stocks in the US—comes as Pfizer looked to become the second pharmaceutical company to offer an oral pill to combat the virus. While Pfizer’s drug has yet to receive emergency authorization from US regulators, investors say that it shows promise to help ease the pandemic globally and accelerate a return to travel. Bloomberg

08 Nov 2021, 11:19:28 AM IST

Sensex pares losses

Ultratech Cement, Titan and Bajaj Financial Services are among top gainers on the Sensex, while IndusInd Bank, Mahindra and Mahindra and Reliance have been top losers as of 11:15 am.

Sensex heatmap

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Sensex heatmap
08 Nov 2021, 11:14:31 AM IST

Sensex, Nifty pare losses but still in red

Sensex and Nifty were trading flat at 11:11 am. Broader indices have all rallied into green.

Source: BSE, NSE

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Source: BSE, NSE
08 Nov 2021, 11:06:26 AM IST

L&T bags ‘significant’ construction projects

The construction arm of Larsen and Toubro has secured “significant”orders for its businesses in India. Significant refers to projects in the cost range of 1,000 crore to 2,500 crore. The metallurgical and material handling (MMH) business has been awarded an engineering, procurement and construction (EPC) order for 12 MTPA dry circuit systems on a turnkey basis for a screening plant (SP-Ill) from NMDC Ltd at their Kirandul Complex, Chhattisgarh. The scope of work includes tertiary crushing, 2-stage screening, stacking, reclaiming and dispatch of iron ore along with the associated civil, structural, E&l and other auxiliary facilities. Also, the buildings and factories (B&F) business has secured a prestigious order from DRDO to construct their Flight Control System Facility at ADE, Bengaluru. The project involves construction of a 1.2 lakh sq. ft facility consisting of Gro,tmd + 6 Floors in an extremely fast track timeline of 4 months. The project will demonstrate L&T’s technological expertise in modular offsite construction with composite truss beam technology that will be used for the Structure, an exchange filing from the company read. 

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08 Nov 2021, 10:53:49 AM IST

Retail investors bid 0.34 times for Paytm IPO 

Retail Individual Investors (RIIs) have bid for 3,013,062 out of 8,798,076 shares on offer as of 10:53 am.

08 Nov 2021, 10:37:26 AM IST

Rupee surges 23 paise to 74.23 against US dollar in early trade

08 Nov 2021, 10:35:38 AM IST

Man Infra promoter acquires shares from open market

Man lnfraconstruction Limited has informed exchanges that its promoters Parag K. Shah and Mansi K. Shah have acquired a total of 500,000 shares of the company from the open market.

08 Nov 2021, 10:20:01 AM IST

Sensex, Nifty see volatile trading

Source: NSE, BSE

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Source: NSE, BSE
08 Nov 2021, 10:04:34 AM IST

Nifty PSU Bank index shows over 1% gains

The Nifty PSU bank index has gained over 1% powered by J&K Bank, Union Bank, Canara Bank and Bank of Baroda. SBI is among drags on the index.

Source: NSE

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Source: NSE
08 Nov 2021, 09:54:42 AM IST

Sensex, Nifty slip into red after opening in green

Sensex was at 59,894.49, down 173.13 points, or 0.29% at 09:51 am, while Nifty was at 17,865.90, down 50.90 points, or 0.28%.

Source: NSE, BSE

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Source: NSE, BSE
08 Nov 2021, 09:49:03 AM IST

On markets opening: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The Index has opened flat and continues to trade in an indecisive mode. The support for this market lies at 17,550-17,600 and until we do not break that on a closing basis, the trend of the Nifty is positive. On the upside, there is resistance at 17,950-18,000. We need to get past that for an upside momentum to trigger.

08 Nov 2021, 09:41:28 AM IST

IndusInd Bank is down about 10%

Source: BSE.

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Source: BSE.
08 Nov 2021, 09:37:40 AM IST

Pharma, pvt banks top drags

Source: NSE.

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Source: NSE.
08 Nov 2021, 09:34:46 AM IST

Markets pre-opening: Gaurav Udani, CEO and founder, ThincRedBlu Securities

Nifty is expected to open positive at 17,970, up by 60 points. Since the last few trading sessions Nifty has been correcting and charts suggest it may continue doing so for the next few sessions. Traders are suggested to book profits on every rise and avoid taking new long positions till we get a bullish confirmation. Nifty has support in 17,600 and 17,800 range and resistance in 19,050 and 18,050 range.

08 Nov 2021, 09:33:41 AM IST

Advances, declines

Source: BSE, NSE

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Source: BSE, NSE
08 Nov 2021, 09:15:07 AM IST

Sensex heatmap

Titan, L&T and ITC were leading gainers on the Sensex, while IndusInd Bank, Kotak Bank and Dr Reddy’s were top drags at 9:13 am.

Source: BSE

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Source: BSE
08 Nov 2021, 09:06:16 AM IST

Markets at pre-open

Markets are in the green at pre-open, indicating gap up opening. Sensex was up by 75 points while Nifty was up 87 points.

Source: BSE, NSE.

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Source: BSE, NSE.
08 Nov 2021, 08:59:47 AM IST

IPOs 

Source: BSE

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Source: BSE
08 Nov 2021, 08:48:32 AM IST

Day trading guide for Monday

Six stocks to buy or sell today, 8 November (Read here)

08 Nov 2021, 08:43:24 AM IST

Crypto rally lifts ether to new record, bitcoin to near 3-week high

Bitcoin rose to a two-and-a-half-week peak on Monday and ether climbed to a fresh record as cryptocurrencies ride higher on a wave of momentum, flows, favourable news and inflation fears. Bitcoin was last up about 3% at $65,121 and ether, which underpins the ethereum network, sat at a record top of $4,711. Ether is up 57% since the start of October and bitcoin about 50% as investors have cheered last month’s launch of a US futures-based bitcoin exchange-traded fund and sought exposure to an asset class sometimes regarded as an inflation hedge. Falling real yields, as traders brace for inflation, adds to the attractiveness of assets such as gold and cryptocurrencies which do not pay a coupon, said Kyle Rodda, analyst at broker IG Markets, adding that the mood in the sector has also been good. Reuters

08 Nov 2021, 08:40:47 AM IST

Adani Group pays ₹2,440 crore to AAI to take possession of 6 airports: Report 

Adani Group has made a one-time payment of 2,440 crore to the Airports Authority of India (AAI) for the six airports that the state-owned airport operator has transferred to the Ahmedabad-based company after it won bids for six airports, the Economic Times has reported citing sources.

 

08 Nov 2021, 08:33:56 AM IST

Paytm IPO opens today: GMP, other key details. Should you subscribe?

In what is expected to be India’s biggest public issue, Paytm’s 18,300 crore initial public offering (IPO) by parent One97 Communications will open for subscription today. The price band of the three-day share sale, which concludes on November 10, has been fixed at 2,080-2,150 per share. Paytm has raised 8,235 crore from anchor investors ahead of its share sale. (Read here)

08 Nov 2021, 08:22:13 AM IST

Markets likely to be stable; Future group stocks, IndusInd Bank in focus

The congressional passage of a long-delayed US $1 trillion infrastructure bill cheered investors, though a broader social safety net plan remains elusive. (Read here)

08 Nov 2021, 08:10:58 AM IST

Nykaa IPO share allotment today: How to check application status online

Nykaa IPO’s finalization of basis of share allotment is expected to take place on Monday, 8 November 2021. The initial public offering (IPO) of Nykaa’s parent FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products, was subscribed more than 82 times at the end of the final day of bidding which was last week. The bidders can check the share allotment status in the registrar’s website Link Intime India Pvt. Ltd. (Read here)

08 Nov 2021, 08:01:55 AM IST

Global indices

Source: SGX Nifty

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Source: SGX Nifty
08 Nov 2021, 07:48:45 AM IST

PNB, Escorts continue to be among stocks under NSE’s F&O ban list

The same two stocks/securities, that were on F&O ban in the previous few sessions, have been put under the ban for trade on Monday, 8 November 2021 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE. Public lender Punjab National Bank (PNB) and Escorts continue to be under the F&O ban list for today. The derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and are therefore have been currently put in the ban period by the stock exchange, said NSE. (Read here)

08 Nov 2021, 07:44:53 AM IST

FIIs were net sellers on Thursday

Source: BSE; figures in  <span class=₹ crore.” src = “https://images.livemint.com/static/static/1x1_img.gif” title=”Source: BSE; figures in crore.”>

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Source: BSE; figures in crore.
08 Nov 2021, 07:36:31 AM IST

Inox Wind bags 150 MW power project

Wind energy solutions provider Inox Wind has bagged an order for a 150 MW wind power project from NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Ltd, to be commissioned in Gujarat. This among many more in the future will help NTPC achieve its target of having over 60 GW Renewable Energy capacity constituting nearly 50% of its overall power generation capacity by 2032. The project will be executed on a turnkey basis at Dayapar site, Kutch District in Gujarat and is scheduled to be commissioned by April 2023.

08 Nov 2021, 07:30:11 AM IST

Oil climbs as traders weigh up odds of US stockpile release

Oil advanced above $82 a barrel as traders weighed the odds of a release of crude from the US Strategic Petroleum Reserve after OPEC+ resisted a plea from President Joe Biden to boost supplies more quickly. West Texas Intermediate rose 1.1% after surging 3.1% on Friday, and Brent also tracked higher. The administration will consider data coming out Tuesday as it assesses measures to stem gasoline prices, Energy Secretary Jennifer Granholm said on Sunday. Vitol Group, the biggest independent oil trader, told Bloomberg on Sunday that OPEC+ is unlikely to change its stance. Oil’s rally to a seven-year high has alarmed Biden, who led calls from consumers last week for the Organization of Petroleum Exporting Countries and its allies to step up the pace they are reactivating the supply shuttered at the start of the pandemic. Despite his plea, the alliance chose to stick with a planned, modest hike of 400,000 barrels a day. That’s raised the possibility of an SPR release, which could be made in coordination with other states. (Read here)

08 Nov 2021, 07:30:11 AM IST

Stocks to watch

Future Retail, IndusInd Bank, and DLF are among the stocks to watch. (Read here)

08 Nov 2021, 07:30:11 AM IST

Stocks steady ahead of US CPI; treasuries dip

Stocks in Asia were steady Monday as investors keep watch on how price pressures impact monetary policy and the pace of economic recovery. Treasury yields pared a slide. Equities in Japan were little changed and they fell in Hong Kong and South Korea. US futures dipped after all major US equity benchmarks climbed to records Friday, with the S&P 500 posting its fifth consecutive weekly rally. That was after a larger-than-forecast and broad-based gain in US payrolls that also showed a jump in average hourly earnings. Australian bonds rallied after the US 10-year Treasury yield tumbled below 1.5%. Markets will closely watch a read on US consumer prices this week. The dollar rose and the yen slipped. Stocks in China fluctuated as the Communist Party meets for the first time in more than a year this week. The gathering is expected to lay the ground for extending the term of President Xi Jinping, who has rattled markets with his “common prosperity” campaign to redistribute the nation’s wealth. The inflation debate continues to shadow the markets that had taken some comfort from a strong earnings season despite higher inflation and supply chain snarls. Federal Reserve Bank of Kansas City President Esther George said the risk of a prolonged period of elevated inflation has increased and the argument for patience has diminished.

 

Stocks

S&P 500 futures slipped 0.2% as of 10:45 a.m. in Tokyo. The S&P 500 rose 0.4%

Nasdaq 100 futures fell 0.3%. The Nasdaq 100 rose 0.1%

Topix index was flat

Australia’s S&P/ASX 200 Index fell 0.3%

Kospi index fell 1.1%

Hang Seng Index fell 0.6%

Shanghai Composite Index

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source: Market LIVE Updates: Sensex, Nifty strongly back in green; banking top drag – Mint

Tags: #asian markets #bse #business news #MARKET LIVE #market news #Nifty #nse #Sensex #sensex live today #sensex today #SGX Nifty #stock market #stocks #us market

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