Bombay Stock Exchange building. (Image: Wikimedia Commons)
Sensex opened marginally higher but very quickly swung into the red while Nifty extended losses to open lower on Monday as most of the Asian shares fell in the early trade except Japan following the concerns about China’s economy. The benchmark Sensex lost as much as 288 points to hit a day’s low of 31,634.94 points and broader Nifty 50 shed 100 points to hit the day’s low of 9,864.6 points. The key equity indices Sensex and Nifty plunged heavily on Friday on a possibility of North Korea that it may conduct another hydrogen bomb test, this time in the Pacific Ocean. The benchmark Sensex shed 484 points to mark the day’s low of 31,886.09 points which is its biggest fall since 15 November 2016 — demonetisation period. The broader Nifty 50 index also fell, lost as much as 169 points to fell below 10,000 mark to 9,952.8 points.
Here are the live updates:
11:41 am: How Asia’s richest man spends his money? Well, he does not! Asia’s richest man and the CEO of e-commerce giant Alibaba Jack Ma’s worth is USD 46.9 billion. How Jack ma spends his money?
11:15 am: Indian stock markets moving towards short-term top, says Gautam Shah of JM Financial: The key equity indices Sensex and Nifty extended the Friday losses and fell heavily on Monday marking the first major bearish tone for the year 2017.
11:07 am: Is online revolution responsible for Toys ‘R’ Us running out of battery? Not entirely: Toys ‘R’ Us filed for bankruptcy on September 19, prompting many to believe that the online revolution was responsible for the company’s fate. However, a recent report on e-commerce sector showed that, contrary to popular belief, only 16 percent of sales in the toys and hobby sector are made online in the United States.
10:44 am: Capacit’e Infraprojects makes stellar debut; shares gain nearly 60% post listing: Construction firm Capacit’e Infraprojects made a stellar market debut on Monday after receiving an overwhelming response on its IPO last week. The company gained 59.6% at Rs 399 per share on the exchanges in the opening trade.
9:50 am: Coffee Day Enterprises shares tumble over 9% after I-T detects Rs 650 crore illegal income: Coffee Day Enterprises shares tumbled over 9% in an early trade on Monday after the Income Tax department detected Rs 650 crore concealed income from the documents seized during the raid last week.
09:40 am: Axis Capital bullish on Shoppers Stop shares after Amazon deal: Axis Capital maintained a buy call on Shoppers Stop, and revised the target price to Rs 550, from the target price of Rs 450, an upward revision of more than 22%, as the research and brokerage firm believes that the 5% stake sale to Amazon.com will reduce debt by more than Rs 180 crore.
9:30 am: Sensex slips nearly 300 points, Nifty falls below 9,900; PSU bank stocks worst loser: Sensex opened marginally higher but very quickly swung into the red while Nifty extended losses to open lower on Monday as most of the Asian shares fell in the early trade.
09:10 am: Stocks of GSK Pharma, Tata Global Beverages, REC will be in focus today: Sensex and Nifty are likely to open lower as most of the Asian shares fell in the early trade except Japan after investors turned their attention to global politics.
