Markets at 02:30 PM
LIVE market updates: The key benchmark indices have recouped some of its losses in the last half-hour of trades or so on the back of renewed buying interest in banks and index heavyweight Reliance Industries.
The BSE Sensex was down 375 points at 59,633, and the NSE Nifty had slipped 132 points to 17,767.
PowerGrid Corporation has advanced over a per cent. Reliance, Asian Paints and SBI were the other notable gainers among the Sensex 30. On the flip side, Mahindra & Mahindra, Tata Steel, HCL Technoglogies and IndusInd Bank remain the prominent losers.
The broader indices, however, continue to under-perform. The BSE Midcap index was down 1.4 per cent, and the Smallcap index had slipped 1.2 per cent.
Meanwhile, the European markets started trade on a mixed note. The DAX 30 and CAC 40 were up 0.2 per cent and 0.1 per cent, respectively, while the FTSE 100 was down 0.2 per cent.
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Markets at Lunch (01:30 PM)
LIVE market updates: The key benchmark indices have recouped some of its losses in the last half-hour of trades or so on the back of renewed buying interest in banks and index heavyweight Reliance Industries.
The BSE Sensex, which, touched a low of 59,377, was down 350 points at 59,658. The NSE Nifty also recovered from the day's low of 17,689, and was quoted at 17,778, down 121 points.
In the broader markets, Paytm down 14.7 per cent from its issue price was the major loser. Aurum Proptech, Vedanta, JSW Energy, Aurobindo Pharma, Tata Power, CoForge, Zensar Technologies, IDFC, Gujarat Alkalies and Spandana Sphoorty Financial were the other prominent losers.
Whereas, Escorts was trading at a fresh life-time after Japan-based Kubota Corporation hiked stake in teh company by acquiring 96.64 lakh shares through the preferential route for a consideration of Rs 1,872.74 crore. READ MORE
MTNL, Shipping Corporation of India, Tarapur Transformers, TCI Express, Tanla Platforms and Chambal Fertilisers were the other prominent gainers.
Elsewhere in Asia, Hang Seng shed 1.4 per cent, while Nikkei and Shanghai Composite were down 0.3 per cent and 0.4 per cent, respectively. Kospi too slipped 0.3 per cent. On the other hand, Taiwan gained 0.4 per cent, and Straits Times was flat.
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Markets at Noon
LIVE market updates: The key benchmark indices so far in the day have extended losses as the trading sesion progressed amid a board-based selloff. The BSE Sensex was down 483 points at 59,525, and the NSE Nifty had declined 162 points to 17,737.
The overall breadth was also fairly negative - with declining stocks out-numbering advancing shares in nearly 3:1 ratio.
All sectoral indices were in the negative zone - the BSE Auto index was the biggest loser, down 2.5 per cent. Healthcare, IT, Capital Goods, Consumer Durables, Metal and Realty indices were the other major losers.
In the primary market, Go Fashion India IPO was subscribed 3.4 times on Day 2 of the public issue so far. The retait quota was subscribed 16.6 times and the wealthy investor portion 1 times.
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Markets at 11 AM
LIVE market updates: Bears tightened their grip over the markets as investors engaged in across-the-board selloff. The BSE Sensex fell 393 points, or 0.66 per cent, at 59,614 level while the Nifty50 gave up 17,750-mark. In the intra-day trade, the indices hit low of 59,481 and 17,720.
In the broader markets, the BSE MidCap and SmallCap indices dropped 2 per cent each.
Volatility index, India VIX, was up 3 per cent and market breadth was heavily skewed towards seller. Over 2,200 shares declined on the BSE compared with only 800 stocks that rose.
Paytm: What next for the stock?
Given the offer's aggressive pricing and the fact that One97 Communications, the parent company of Paytm, still remains a loss-making entity, most analysts had expected a sub-par listing. As an investment strategy, they advise investors who got an allotment book loss at the current levels and invest in more promising counters. READ MORE
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Markets at 10 AM
Macquarie has initiated coverage of One 97 Communications with an "underperform" rating. It has a target of Rs 1,200, suggesting 44 per cent potential downside from the issue price of Rs 2,150.
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Opening Bell
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Pre-opening session
LIVE market updates: The BSE Sensex fell 39 points in pre-open deals at 59,969 levels. The Nifty50, meanwhile, dipped 8 points at 17,890.
Britannia Industries, Asian Paints, Hindalco, and Adani Ports are the top stocks on the Nifty in pre-open deals.
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Updated at 8:15 AM
LIVE market updates: Amid lack of triggers, domestic equities are expected to trade sideways and track global cues for further moves. All eyes, however, will be on the listing of Paytm and Sapphire Foods today.
At 8:05 AM, SGX Nifty was at 17,877, down 7 points.
Global cues
In Asia, Nikkei and Hang Seng were down 0.5 per cent and 1 per cent, respectively, while Shanghai Composite was up 0.4 per cent. Kospi and Straits Times slipped 0.5 per cent and 0.2 per cent, respectively. Taiwan, however, was up 0.2 per cent.
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