Indian shares dropped on Tuesday after falling nearly 2% a day earlier, as technology, financial, and energy stocks slipped, and surging Covid-19 cases in Europe raised concerns of a hit to global economic growth. Stay with TOI for latest updates.Read Less
Nifty sub-indices finished higher
On the NSE Nifty, all sub-indices finished in green with Metal, PSU Bank and Realty gaining as much as 3.3 per cent.
Top winners on sensex
Power Grid, NTPC, Tata Steel, Bharti Airtel, Sun Pharma and Bajaj Finserv were the top gainers in the sensex pack rising as much as 3.91 per cent.
Paytm shares close 10% higher on the BSE at Rs 1,495
Markets snap 4-day losing streak
Sensex ends 198.44 points higher at 58,664.33; Nifty advances 86.80 points to 17,503.35
Unicommerce to invest $5 million towards international expansion
E-commerce focussed IT firm Unicommerce plans to invest $5 million towards strengthening its international operations in various countries of Southeast Asia and the Middle East with a target to garner 400 per cent growth in business, the company said on Tuesday.
Adani Solar partners KSL Cleantech to expand market share
Adani Group firm Adani Solar on Tuesday announced its collaboration with KSL Cleantech to expand its market share in the eastern and northeastern renewable energy markets of the country.
NPCI Bharat BillPay on-boards Tata Power for electricity bill payments
NPCI Bharat BillPay has on-boarded Tata Power on its platform through which customers will be able to pay their electricity bills in a hasslefree and seamless manner.
Latent View shares make stellar market debut, zoom 169%
Shares of Latent View Analytics on Tuesday made a stellar market debut, listing with a premium of 169 per cent gainst the issue price of Rs 197. The stock listed at Rs 530, reflecting a huge gain of 169 per cent from the issue price on BSE. It further jumped 178.55 per cent to Rs 548.75. On NSE, it made its debut at Rs 512.20, a jump of 160 per cent.
Payments firm MobiKwik to delay planned IPO
Payments firm MobiKwik has delayed its plans to proceed with an initial public offering (IPO) of shares this month, its CEO said on Tuesday, in an anticipated move following the dismal market debut of larger rival Paytm earlier this month.
Vodafone Idea hikes tariff rate for mobile services
After Bharti Airtel, telecom major Vodafone Idea has also hiked rates of its mobile services, the company said in an official statement on Tuesday. The new tariff plans will be applicable for all prepaid users and will come into effect from November 25.
Digital payments start-up Paytm rose as much as 6.97% after two sessions of sharp falls. Latent View Analytics opened at a 160% premium to its offer price, giving the data analytics firm a market valuation of $1.36 billion.
Indian shares fell for a fifth session on Tuesday and hit their lowest in nearly two months, weighed down by tech and finance stocks. By 10:42 AM, the blue-chip NSE Nifty 50 index slipped 0.2% to 17,382.25 and the benchmark S&P BSE Sensex fell 0.36% to 58,256.93, after shedding about 2% on Monday.
China stocks rise on hopes of more economic support; Hong Kong down
China stocks rose on Tuesday after state media quoted the country’s premier as saying Beijing should step up efforts to stabilise key economic areas, while real estate shares rebounded after some banks were told to issue more loans for property projects. The CSI300 index rose 0.2% to 4,922.02 by the end of the morning session, while the Shanghai Composite Index gained 0.4% to 3,597.53. The Hang Seng index dropped 1.0% to 24,698.49. The Hong Kong China Enterprises Index lost 0.9% to 8,848.98.
Rupee slips 16 paise to 74.55 against US dollar in early trade
The Indian rupee depreciated by 16 paise to 74.55 against the US dollar in opening trade on Tuesday, as a muted trend in the domestic equity market and firm American dollar weighed on investor sentiment. At the interbank foreign exchange, the rupee opened on a weak note at 74.48, then lost further ground and touched 74.55 against the American dollar, registering a decline of 16 paise from the last close. On Monday, the rupee had closed at 74.39 against the US dollar.
Infosys, the top loser in the Sensex pack, shed around 2 per cent, followed by ICICI Bank, HUL, Bajaj Auto, Reliance Industries and TCS. On the other hand, Tata Steel, PowerGrid, Bajaj Finance and ITC were among the gainers.
Sensex tanks over 700 points in early trade
Equity benchmark Sensex plunged over 700 points in early trade on Tuesday, tracking losses in index majors Infosys, ICICI Bank and Reliance Industries amid persistent foreign fund outflows.After touching a low of 57,718.34 in the opening session, the 30-share index pared some losses to trade 264.20 points or 0.45% lower at 58,201.69.Similarly, the Nifty was trading 89.05 points or 0.51% down at 17,327.50. It touched a low of 17,216.10 in initial deals.
Paytm rose about 5.6% after two sessions of sharp falls. The digital payments start-up made one of the worst major stock market debuts in India last week.Vedanta Ltd rose about 6.7% in early trade.
Indian shares decline as tech, financials weigh
Indian shares dropped on Tuesday after falling nearly 2% a day earlier, as technology, financial, and energy stocks slipped, and surging Covid-19 cases in Europe raised concerns of a hit to global economic growth. The blue-chip NSE Nifty 50 index fell 0.96% to 17,255.40 by 0356 GMT, while the benchmark S&P BSE Sensex declined 1.08% to 57,814.18. The Nifty IT Index fell 1.5%, dragged by Infosys Ltd and Coforge Ltd — down about 2.2% each.
Sensex tumbles 431.93 points to 58,033.96 in opening session; Nifty slumps 134.20 points to 17,282.35
Spot gold may rise towards $1,831; medium-term outlook bearish
Spot gold may break a resistance at $1,817 per ounce and rise to $1,831, as it has found a strong support at $1,803. The support is identified as the 61.8% retracement of the uptrend from $1,757.63 to $1,876.90. Both the former supports at $1,831 and $1,817 failed to hold, creating a golden chance of a decent bounce around $1,803.