sensex crash today: CLOSING BELL: Sensex tanks for 3rd day, tumbles 1,093 points; Nifty ends near 17,500; UltraTech, Infosys decline 4% each – Economic Times

Sensex Today Live: Indian shares were lower in early trade on Friday, dragged by losses in technology and automobile stocks amid a broader weak sentiment over concerns of a global recession.

The Nifty IT index and automobile index were down 1.1% and 0.5%, respectively.

Broader Asian equities also fell on Friday, following sharp losses overnight in U.S. stocks over fears of aggressive tightening by the Federal Reserve in the face of warnings of a global recession from the World Bank and the International Monetary Fund.

Rating agency Fitch earlier this week cut India’s gross domestic product growth forecast for the current fiscal year to 7% from 7.8%, in the backdrop of a slowdown triggered by global economic stress, elevated inflation and tighter monetary policy.

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With persistent bearish pressure from global stocks amid rising yields and dollar index, the domestic market surrendered to the global trend despite its strong decoupling scenario and encouraging macroeconomic data. Post the release of US inflation data, which showcased a MoM increase in inflation, the global market has been pricing in the likelihood of a more aggressive policy response from the Fed.

– Vinod Nair, Head of Research at Geojit Financial Services

Indian Markets today finally chose to mirror global cues after out-performing global peers in the recent past. Weaker domestic flows for last month despite SIPs maintaining their run rate led to profit taking as all sectoral indices ended in the red. As global investors brace for a further interest rate hike post the US inflation data released recently, the RBI too has its task cut out in India when they meet at the end of this month. Spectacular Monsoon in India coupled with several positive Tailwinds provides a plethora of investment opportunities in the broader markets.

– S Ranganathan, Head of Research at LKP securities

Nifty down 1.7%; Biggest weekly decline since the week ended Jun 17, 2022

IndusInd Bank, Axis Bank only index gainers

IndusInd Bank, Axis Bank only index gainers

CLOSING BELL: Sensex tanks for 3rd day, tumbles 1,093 points; Nifty ends near 17,500; UltraTech, Infosys decline 4% each

CLOSING BELL: Sensex tanks for 3rd day, tumbles 1,093 points; Nifty ends near 17,500; UltraTech, Infosys decline 4% each

Karan Adani set to oversee newly acquired cement units, as per agencies

Pound falls to 37-year low as poor retail sales lift economic woes

The pound on Friday tumbled to a fresh 37-year low on the U.S. dollar, and a 17-month trough on the euro, after weaker-than-expected figures of retail sales added to worries about the health of Britain’s economy. The pound fell more than 1% against the dollar to 1.1351, its lowest since 1985, its fall accelerating once it passed through the then 37-year low hit last week.

India VIX spikes over 7.5% as market plunges

India VIX spikes over 7.5% as market plunges

Most active stocks in afternoon session

Price as on 16 Sep, 2022 02:33 PM, Click on company names for their live prices.

STOCKS AT 52-WEEK LOWS

STOCKS AT 52-WEEK LOWS

2 Nifty stocks trade in the green with the index down over 300 points

2 Nifty stocks trade in the green with the index down over 300 points

ZOMATO IN FOCUS

Infosys to announce Sept quarter results on October 13; board may also consider dividend

Price as on 16 Sep, 2022 01:45 PM, Click on company names for their live prices.

Health Check! Pharma stocks emerge most resilient in this market crash; here are the top movers from the spce

Price as on 16 Sep, 2022 01:39 PM, Click on company names for their live prices.

CSB Bank on Friday said Pralay Mondal has been appointed as the regular Managing Director and CEO of the bank for three years following the RBI’s nod. Mondal was the interim MD and CEO of the bank previously. He has been appointed as the regular MD and CEO pursuant to the approval received from the Reserve Bank of India on September 15, 2022, the bank said in a statement.

Price as on 16 Sep, 2022 01:37 PM, Click on company names for their live prices.

Zydus Lifesciences receives tentative approval from USFDA for Sugammadex injection

Price as on 16 Sep, 2022 01:35 PM, Click on company names for their live prices.

SENSEX CRASHES OVER 900 POINTS!

SENSEX CRASHES OVER 900 POINTS!

Strength of the US Dollar will lead to crude stabilizing at lower levels: Emkay Wealth Management

To contain the runaway inflation, central banks in the US and Europe have launched an aggressive monetary policy in terms of rate hikes as well as reversing the easy liquidity that was introduced to aid growth during the pandemic years. The US and ECB are still not done with their rate tightening, and the street expects further tightening. The pace of the rate action may hurt economic growth in the near term, affecting demand for crude worldwide. The rate action has also led to a strengthening of the US Dollar. A stronger dollar will gradually ensure that crude prices stabilize at lower levels.

Microcap firm Sampre Nutrition hit the upper circuit on Friday after Eriska Investment Fund picked up a significant stake in the company on Thursday, according to the bulk deal data. The Mauritius-based Eriska Investment picked up 50,000 equity shares in Sampre Nutritions, a Gurbani Group company, at an average price of Rs 101 apiece as per the BSE bulk deal data. The deal amounted to Rs 50.5 lakh.

Price as on 16 Sep, 2022 12:50 PM, Click on company names for their live prices.

Shares of Tata Metaliks rallies in Friday’s session to the day’s high of Rs 872.95 after the iron and steel company announced the inauguration of Phase-I of its expansion project of the Ductile Iron (DI) pipe plant at Kharagpur. The Rs 600 crore expansion project will take the company’s Ductile Iron Pipe plant capacity to over 4 lakh tonnes per annum in two phases.

Price as on 16 Sep, 2022 12:42 PM, Click on company names for their live prices.

ED freezes funds kept in Paytm after recent raids in Chinese loan app case

Price as on 16 Sep, 2022 12:34 PM, Click on company names for their live prices.

Harsha Engineers IPO subscribed 14.72 times on day 3, issue closes today

The initial public offering (IPO) of Harsha Engineers International (HEIL) continued to attract retail and HNI investors on the last and final day of the bidding process. The issue on the initial two days had received a solid response from the investors and was issued 10.35 times on day, thanks to frenzy from retailers and HNI investors, whose allocation was subscribed 9.14 times and 24.9 times, respectively.

Mankind Pharma filed DRHP for Rs 7,500 crore IPO

Mankind Pharma, the drug maker, known for Manforce Condoms and Prega News, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an initial public offering on Friday. According to bankers, the size of the public offer is expected to be Rs 7,500 crore. The company’s initial public offering comprises an offer for the sale of 4 crore equity shares by the promoters and existing investors. The offer for sale comprises up to 1 crore shares by promoter Juneja family, up to 2 crore shares by Capital International, up to 99.65 lakh by Beige, and up to 50,000 equity shares by Link Investment Trust.

Patanjali to lay down a 5-year plan for the company; Aims to float 5 IPOs over the next five years. Listen In

Adani Ports and Special Economic Zones (APSEZ) on Thursday said its wholly-owned subsidiary HDC Bulk Terminal Ltd has signed a concession agreement with Syama Prasad Mookerjee Port Kolkata (SMPK) for the mechanization of a berth at Haldia Port.

Price as on 16 Sep, 2022 11:33 AM, Click on company names for their live prices.

Indian rupee seen pressured as lower fwd premiums spur importer hedging

The Indian rupee may face more headwinds, as a decline in the cost of buying dollars at a later date on the back of a fall in forward premiums prompts increased importer hedging, analysts said on Friday. The 1-year USD/INR forward implied yield – a measure of the U.S. and India interest rate differentials – has dropped to near 2.80% from around 4.6% since January.

JUST IN: FMR LLC and FIL disclose 5.06% holding in Zomato

Source: Agencies

JUST IN: FMR LLC and FIL disclose 5.06% holding in Zomato

TechM, L&T Infotech, Mindtree among top losers from the IT pack

Price as on 16 Sep, 2022 10:55 AM, Click on company names for their live prices.

Godrej Properties on Friday said it has achieved sales bookings worth Rs 1,210 crore in its two new housing projects in Mumbai. Godrej Properties, a part of business conglomerate Godrej Group, is one of the leading real estate developers in the country.

Price as on 16 Sep, 2022 10:25 AM, Click on company names for their live prices.

UPL said it has acquired 26 per cent stake in Clean Max Kratos Pvt Ltd, which is into renewable energy. Clean Max was incorporated on July 28 with paid up capital of Rs 1 lakh. The company, which is into solar/wind power generation, is yet to commence operations.

Price as on 16 Sep, 2022 10:14 AM, Click on company names for their live prices.

Top Sensex drags: RIL, HDFC twins, IT stocks

Top Sensex drags: RIL, HDFC twins, IT stocks

Sensex extends falls, tumbles over 700 points

Sensex extends falls, tumbles over 700 points

India’s current account deficit likely jumped to a near-decade high

India’s current account deficit likely widened to its highest in nearly a decade in the April-June quarter, driven by soaring global commodity prices and the biggest capital outflows since the global financial crisis of 2008, a Reuters poll found.

With the Indian rupee near a record low around 80 to the U.S. dollar and a worsening trade gap, worries over the size of the current account shortfall for Asia’s third largest economy, gnawing at investor confidence for months, are set to intensify.

The median forecast in a Sept. 9-15 Reuters poll of 18 economists showed India’s current account deficit last quarter was $30.5 billion, or 3.6% of gross domestic product, the widest in nine years.

BLOCK DEAL IN EMBASSY REIT: 1.45 cr shares change hands

BLOCK DEAL IN EMBASSY REIT: 1.45 cr shares change hands

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The market has started showing some indications of fatigue. Globally, the major concern now is that the Fed might oversteer the economy and end up raising rates too much too fast, pushing the US economy into a sharp recession. There are talks of the terminal Fed rate rising to 4.25%. Sharply rising rates, rising bond yields and rising dollar are negatives for equity. In this challenging environment it would be difficult for India to sustain the decoupling from the global trend which has been a recent pattern in India. Moreover, FIIs have halted their sustained buying and have turned sellers, though this is not yet a trend.

Investors may adopt a wait and watch attitude till the Fed meeting is over on 21st September.
Bank Nifty continues to be strong.

Bitcoin below $20K, Ether breaches $1,500; altcoins tank

Vedanta on Thursday issued a clarification stating that the proposed business of manufacturing semiconductors will be undertaken by its ultimate holding company Volcan Investments Limited.

Price as on 16 Sep, 2022 09:26 AM, Click on company names for their live prices.

Vedanta, Voda Idea among most active stocks on NSE

Price as on 16 Sep, 2022 09:24 AM, Click on company names for their live prices.

The successful close above 79.60-79.70 region hints at the beginning of directional moves, or at least expansion in trading ranges. This paves way for 80.10-80.30 in the near term, as long as 79.60 holds.

– Anand James – Chief Market Strategist at Geojit Financial Services on rupee

Sea of red… all sectors trade lower in opening deals

  • IT continues to remain among worst performers; metal, auto also bleed over 1% each
Sea of red... all sectors trade lower in opening deals

Sensex Heatmap: 27 of 30 index stocks trade with cuts

Sensex Heatmap: 27 of 30 index stocks trade with cuts

OPENING BELL: Sensex sheds 400 points, Nifty nears 17,750; Vedanta tumbles 6%, TechM 2%

OPENING BELL: Sensex sheds 400 points, Nifty nears 17,750; Vedanta tumbles 6%, TechM 2%

Sensex sheds 300 points, Nifty nears 17,750 in pre-open session

Asian markets weaken as IMF, World Bank flag recession risks

Asian markets were weaker on Friday as investors braced for a U.S. rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 111 points, or 0.62 per cent, lower at 17,768, signaling that Dalal Street was headed for a negative start on Friday.

Tech View: Nifty50 forms a bearish candle

The Nifty failed to hold on to 18,000 levels on Thursday and closed with a bearish candle on the daily charts.

Tokyo stocks open lower, extending US losses

Tokyo stocks opened lower Friday after Wall Street shares slumped, battered again by worrying economic data and concerns about the impact of further aggressive Federal Reserve action next week.

Wall Street tumbles amid Fed tightening jitters

Wall Street ended sharply lower on Thursday, extending its losses in late afternoon trading as a raft of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid growing warnings of global recession.

Oil extends losses on recession fears

Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand.

Rupee drops 19 paise to 79.71 against US dollar

The rupee declined by 19 paise to close at 79.71 against the US dollar on Thursday, weighed down by a firm American currency and a negative trend in domestic equities.

Sensex, Nifty on Thursday

The 30-share pack Sensex declined 412.96 points to end at 59,934.01. Its broader peer, Nifty50, ended below the 17,900 level.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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