Sensex Today: Stock Market Crash Today LIVE Updates: Sensex down over 950 points, hits
The Nifty IT index dropped 1.5%.
“Global weakness is reflecting in Indian equity markets. IT is seeing selling due to concerns of growth in key markets like U.S. and Europe,” said Siddharth Khemka, head of retail research at Motilal Oswal Financial Services.
“There is a little bit of weakness because of marginally lower than expected GDP. There are hardly any big positive triggers in the market. On every decline the market is finding strength, but the follow up is missing at higher levels.”
India’s economy grew at its fastest pace of 13.5% year-on-year in April-June, though economists flagged that growth could lose momentum in coming quarters as higher interest rates cool economic activity.
Indian government late Wednesday raised taxes on aviation, diesel fuel exports and domestic crude oil, dragging the energy index down 1%.
Shares of Oil & Natural Gas Corp fell 2.6%, while Reliance Industries dropped 1.6%.
Shares of SpiceJet slumped as much as 14.7% after its chief financial officer resigned, with the low-cost carrier posting a wider quarterly loss amid increased scrutiny over mid-air incidents.
Zee Entertainment shares fell as much as 4.9% after a Reuters report said Indian competition regulator found that more scrutiny was needed over its prospective merger with the Indian unit of Japan’s Sony.
Meanwhile, New Delhi Television said a major stake sale by its founders to Adani group would require clearance from India’s tax authorities.
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NCC has received one new order for Rs 292 crore (exclusive of GST) in the month of August, 2022. This pertains to Water & Environment Division and is received from State Government agencies and does not include any internal order.
Price as on 01 Sep, 2022 02:16 PM, Click on company names for their live prices.
TATA MOTORS AUG SALES
Ashok Leyland rallies 5% to hit 52-week high on August sales, UAE deal
As the commercial vehicles manufacturer Ashok Leyland reported a 51 per cent year-on-year (YoY) jump in August sales, the stock rallied 5 per cent on Thursday to hit a 52-week high of Rs 161.75 on the BSE.The flagship brand of Hinduja Group on Thursday reported that its total domestic and export sales for the month of August went up 51 per cent YoY to 14,121 units. The total domestic sales, including trucks, buses and LCVs in the month stood at 13,301 units, up 58 per cent YoY.
5 Nifty stocks hit 52-week highs in a falling market
How auto stocks are faring amid Aug sales data
Price as on 01 Sep, 2022 01:33 PM, Click on company names for their live prices.
Global market check
- The Stoxx Europe 600 fell 0.3% as of 8 a.m. London time
- Futures on the S&P 500 fell 0.6%
- Futures on the Nasdaq 100 fell 1.1%
- Futures on the Dow Jones Industrial Average fell 0.4%
- The MSCI Asia Pacific Index rose 0.2%
- The MSCI Emerging Markets Index rose 0.1%
Sensex at day’s low, down 750 points
Coal India production rises 8.5% in Aug
Smallcap zooms over 14% after Ashish Kacholia picks stake
Shares of Best Agrolife rallied up to 14.5 per cent on Thursday after ace investor Ashish Kacholia picked 13.8 lakh shares of the smallcap company. The stock rallied to the day’s high of Rs 1,266.50. Kacholia, known for picking multibagger stocks in the midcap and smallcap space, bought the stock of the pesticides and agrochemicals company at Rs 940.88 per share on Tuesday.
August gross GST revenue collection at Rs 1.44 lk cr
#BREAKING | August gross GST revenue collection at Rs 1.44 lk cr #GST #GSTCollections @GST_Council @FinMinIndia https://t.co/mlYcznptlB
— ET NOW (@ETNOWlive) 1662014109000
Alka Mittal steps down as chairperson of Mangalore Refinery & Petrochemicals
Price as on 01 Sep, 2022 12:18 PM, Click on company names for their live prices.
Bajaj Auto total vehicle sales grew 8 per cent on an annual basis to 4,01,595 units in August, the company said on Thursday. The Pune-based automaker had sold a total of 3,73,270 vehicles in August 2021.
Price as on 01 Sep, 2022 11:53 AM, Click on company names for their live prices.
Planemaker Boeing Co expects Indian airlines to boost their capacity by at least 25% over the next year as demand rebounds quickly in the world’s fastest-growing major market, an executive said on Thursday.
Price as on 01 Sep, 2022 11:48 AM, Click on company names for their live prices.
Jefferies on Piramal Enterprises: Buy| Target Rs 1250
Jefferies maintained its buy rating on Piramal Enterprises with a target price of Rs 1250. The stock closed at Rs 1062 on 30 August. “Pickup in retail disbursements, especially in housing, should lift loan growth. Provisions could stay elevated in the near-term. Lending book trading at 0.7x FY23e BV, risk/reward which seems positive,” said the note.
Top 5 gainers from the FMCG pack
Price as on 01 Sep, 2022 11:36 AM, Click on company names for their live prices.
Macro Watch
#JustIn | India Aug manufacturing PMI at 56.2 vs 56.4 in July #Manufacturing #Economy #Growth #India https://t.co/N5iM0poHlI
— ET NOW (@ETNOWlive) 1662008792000
USFDA inspection at Alembic Pharmaceuticals Injectable Facility (F-3) at Karkhadi
United States Food and Drug Administration (USFDA) has conducted an inspection at Alembic Pharmaceuticals’ Injectable Facility (F-3) located at Karkhadi from 18th August, 2022 to 30th August, 2022. The USFDA issued a Form 483 with 2 observations.
Zomato’s deputy CFO Nitin Savara quits
Price as on 01 Sep, 2022 10:53 AM, Click on company names for their live prices.
TCS, Infosys among top losers on NSE
Price as on 01 Sep, 2022 10:47 AM, Click on company names for their live prices.
On the technical front, Nifty formed a strong bullish candle on the daily time frame and crossed above all crucial short term and long-term averages indicating of a bullish overtone which is likely to prompt another round of rally in the near term. On the oscillator front too, the 14-period RSI has gained a bullish momentum sustaining above the trend deciding level of 60. Though one need to avoid trading aggressively amid global nervousness. Considering the present situation, a bare minimum correction of 38.6% of the entire rally from 15,183 to 17,992 comes around 16900 followed by 50% correction at 16600. On the upside present setup indicates that Nifty can move towards 17,992 followed by 18,114 in the coming days with immediate support stands at 17,350 and Index need to sustain above the said level with some authority for the bulls to strengthen their stance.
– Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking
Goldman cuts India’s growth forecast; Morgan Stanley sees downside risks
Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates. The lower-than-expected growth during April-June created downside risk of 40 basis points to current fiscal year growth estimates, Morgan Stanley said in a note. India’s real GDP growth increased 13.5% year-on-year in the reported quarter, below the 15.2% forecast by economists polled by Reuters.
Escorts total sales at 6,111 units vs 5,360 units in July
Price as on 01 Sep, 2022 10:04 AM, Click on company names for their live prices.
NDTV says stake sale to Adani needs nod from tax authorities
The income tax department in 2017 provisionally barred the founders – Prannoy and Radhika Roy – from selling a part of their stake as part of a reassessment of their taxes, NDTV said in an exchange filing late on Wednesday .
NDTV and Adani have locked horns in public after the conglomerate, run by India’s richest man Gautam Adani, last week unveiled plans to control a majority stake in the news network seen as bastion of independent media.
SpiceJet falls nearly 15% on bigger quarterly loss
Shares of India’s SpiceJet Ltd fell as much as 14.7% on Thursday, after the low-cost carrier posted a bigger loss due to high fuel costs and unfavourable foreign currency rates, and said its chief financial officer had resigned. SpiceJet posted a net loss of 7.84 billion rupees ($98.50 million) for the quarter ended June 30, compared with a loss of 7.31 billion rupees a year earlier.
Sensex off day’s low, trades 450 points down
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
However, investors have to exercise caution since valuations are high and the global growth environment is not favorable for a sustained bull market. Even while remaining invested, some profit booking may be a good idea.
Voda Idea, YES Bank, Ashok Leyland among most active stocks on NSE
Price as on 01 Sep, 2022 09:19 AM, Click on company names for their live prices.
BLOCK DEAL | Dodla Dairy – 5% equity shares change hands in block deal
Price as on 01 Sep, 2022 09:18 AM, Click on company names for their live prices.
OPENING BELL: Sensex tanks over 850 points, Nifty tests 17,500; Infosys, TechM drop 2% each
Asian stocks stagger into September as dollar spikes
Asian stocks slid and the dollar spiked on Thursday as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 30 points, or 0.17 per cent, lower at 17,480, signaling that Dalal Street was headed for a negative start on Thursday.
Quarterly earnings today
AJR Infra and Tolling and OCL Iron and Steel are among companies that will announce their quarterly earnings today.
Tech View: Nifty50 takes out swing high, faces resistance ahead
Nifty50 on Tuesday surged over 2.5 per cent and took out its recent swing high. The index formed a large bullish candle on the daily chart. Analysts said the index could face stiff resistance around 17,900 levels and see immediate support at the 17,600 level.
Oil falls on greater supply, lower China demand
Oil prices fell in early Asian trade on Thursday, led lower by increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China. Brent crude futures fell 37 cents, or 0.4%, to $95.27 a barrel by 0006 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.4%, to $89.23 a barrel.
Tokyo stocks open lower
Tokyo stocks opened lower Thursday extending US losses, with fears growing among investors that there will be no respite from Federal Reserve rate hikes aimed at tamping down inflation. The benchmark Nikkei 225 index was down 1.04 percent, or 291.67 points, at 27,799.86 in early trade, while the broader Topix index slipped 0.80 percent, or 15.76 points, to 1,947.40.
Wall Street ends August with a whimper on Fed worry
US stocks ended the month with their fourth straight daily decline on Wednesday, cementing the weakest August performance in seven years as worries about aggressive interest rate hikes from the Federal Reserve persist.
Rupee spurts 39 paise to 79.52 against dollar
The rupee rebounded by 39 paise to close at a nearly two-week high of 79.52 against the US dollar on Tuesday, supported by foreign fund inflows and a correction in crude oil prices.
Sensex, Nifty on Tuesday
30-share Sensex advanced 1,564.45 points — the second biggest point-wise gain of this year– to end at 59,537.09. Its broader peer, Nifty50, ended the session comfortably above the 17,750 mark.
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