Analysts awaited official GDP data due later in the day.
Domestic stock markets took a breather a day after benchmark indices jumped 1 per cent, as investors weighed the prospect of COVID-19 vaccines against global economic slowdown. The S&P BSE Sensex index fell 264.33 points, or 0.60 per cent, to 43,995.41 at the weakest level recorded during the session, and the broader NSE Nifty 50 benchmark declined to as low as 12,914.30, shedding 72.7 points, or 0.56 per cent, from its previous close. Selling pressure in IT, energy and infrastructures shares outweighed buying interest in automobile and PSU bank stocks. Analysts awaited official data on the country's gross domestic product (GDP), due later in the day, for near-term cues. (Key Stocks To Watch Today)
Economic activity in the country likely picked up in July-September after a record 23.9 per cent contraction the previous quarter. Economists in a poll by news agency Reuters forecast GDP to shrink 8.8 per cent, a contraction that would still amount to a technical recession.
Both indices registered their second best monthly performance so far this year.
Here are highlights of Friday's trading session:
Market Live Updates: Sensex Ends 110 Points Lower At 44,150, Nifty At 12,969
The S&P BSE Sensex index ended 110.02 points - or 0.25 per cent - lower at 44,149.72, and the broader NSE Nifty 50 benchmark settled at 12,968.95, down 18.05 points - or 0.14 per cent - from its previous close.
Market LIVE: Sensex, Nifty Continue To Trade On Flat Note
Benchmark indices S&P BSE Sensex and NSE Nifty 50 traded on a flat note.
Top Sensex gainers:
- Asian Paints: +3.50%
- Titan up: +3%
- Tech Mahindra: +2.85%
- Bajaj Finance: +2.22%
- Tata Steel: +1.64%
To Sensex losers:
- Power Grid: -3.36%
- HCL Tech: -2.55%
- Axis Bank: -2.31%
- ONGC: -2.93%
- TCS: -1.69%
Stock Market LIVE: Nifty Banking Turns Flat Ahead Of GDP Data
The Nifty Bank index - tracking stocks of 12 major lenders in the country - was flat at 29,530.95, ahead of the release of official GDP data. Economists in a poll by news agency Reuters forecast GDP in Asia's third largest economy to shrink 8.8 per cent in the September quarter, after a contraction of 23.9 per cent in the previous quarter, amounting to a technical recession.
Market LIVE: Markets Under Pressure In Late Afternoon Trade; HDFC Life, HCL Tech, Hindalco Top Losers
Benchmark indicies slipped to the negative territory as the markets entered the last hour of trade. Stocks such as HDFC Life, HCL Tech, Hindalco and JSW Steel exerted pressure on the indices.
European Markets Trade On A Mixed Note
European markets were trading on a mixed note in trade on Friday. Germany's DAX rose 0.28%, France's CAC40 index advanced 0.45% and England's FTSE 100 index slipped 0.40%
Stock Market LIVE: State-Run Lenders Outperform
The NSE's PSU Bank index - which tracks shares of government-owned banks - jumped more than 2 per cent.
Top gainers among PSU bank shares:
- J&K Bank: +6.2%
- Punjab National Bank: +5.77%
- Canara Bank: +5.25%
- Bank of Maharashtra: +4.24%
- Union Bank of India: +3.12%
Market LIVE: Real Estate Shares Witness Buying In Listless Session
Shares of real estate companies traded higher in an otherwise listless session. The Nifty Realty index was up 2.4 per cent.
Top gainers in real estate space:
- Indiabulls Real Estate: +5.78%
- Godrej Properties: +3.92%
- Oberoi Realty: +2.52%
- Phoenix: +2.51%
- DLF: +1.57%
Lakshmi Vilas Bank To Write Off Rs 318 Crore Debt Ahead Of DBS Merger
While Lakshmi Vilas' stocks and debentures were to be delisted as part of the deal, the administrator appointed by the Reserve Bank after it seized the lender had said last week that DBS would take over all obligations including bonds and no jobs would be cut.
Stock Market LIVE: Auto Shares Soar In A Subdued Market; Tata Motors, Bajaj Auto Top Gainers Auto shares are going strong in an otherwise sideways market session
on the back of strength in auto heavyweights such as Tata Motors, Bajaj Auto and Hero Motocorp. At 1:00 pm, the Nifty Auto index, which is a barometer of of auto stocks, was the top sectoral gainer. The index galloped by 1.8 per cent to 8,924.50; with Tata Motors, Maruti Suzuki and Bajaj Auto contributing a total of 82 per cent to the gains in the auto index.
Tata Motors, Maruti Suzuki and Bajaj Auto and Hero Motocorp gained 1 per cent to 3.8 per cent on the BSE, while midcap auto stocks and auto ancillaries such as TVS Motor Company, Amara Raja Batteries and Exide Industries gained upto 4 per cent each.
Markets In No Mood To Correct, Support For Nifty At 12,800: HDFC Securities
"Nifty once again recovered after falling for a day. This helps traders' sentiments. 12,833-13,079 could be the band for the coming session. Markets are in no mood to correct significantly
unless there is a negative trigger causing global meltdown," added Deepak Jasani, Head of Retail Research at HDFC Securities.
Market LIVE: Burger King India IPO To Open Next Week; Price Band Set At Rs 59-60/Share
Burger King India's Rs 810 crore initial public offering (IPO) will open for subscription on December 2. The IPO of the quick service restaurant chain will be open for three days, from December 2 to 4. The shares will be listed on the BSE Sensex and NSE Nifty on December 14.
Burger King's initial public offer (IPO) will consist of fresh issue of equity shares amounting to Rs 450 crore and an offer for sale worth Rs 360 crore by the promoter QSR Asia. In a pre-IPO placement, the company has already raised Rs 91.92 crore from Amansa Investments at a price of Rs 58.50 per share.
Stock Market LIVE: Top Gainers In Small-Cap Space
- Subex up 15%
- Mahanagar Gas up 13%
- Mirza International up 12%
- Clariant Chemicals (India) up 12%
- Action Construction Equipment up 11.5%
Market LIVE Updates: Mid- And Small-Cap Shares Outperform Larger Peers
Mid- and small-cap shares were outperforming their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 2 per cent each compared to flat benchmark indexes.
Top Mid-Cap Gainers:
- Indraprastha Gas up 12%
- Cummins India up 10%
- L&T Finance Holdings up 8.23%
- Exide Industries up 6%
- Amara Raja Batteries up 5.28%
Indraprastha Gas Surges On Spike In Volumes
Shares of Indraprastha Gas rose as much as 15 per cent to hit an intraday high of Rs 514 on the back of heavy trading volumes.
As many as 5.11 lakh shares changed hands on the BSE compared with an average of 86,000 shares traded daily in the past two weeks.
Market LIVE: Sensex, Nifty Turn Flat
The S&P BSE Sensex and NSE Nifty 50 indexes turned flat in afternoon trading as gains in Asian Paints, Bajaj Auto, Larsen & Toubro and Maruti Suzuki were offset with losses in HDFC, TCS, Reliance Industries and HCL Technologies.
As of 1:03 pm, the Sensex was down 15 points at 44,241 and Nifty was up 7 points at 12,995.
State Bank of India Expects RBI To Hold Interest Rate
State Bank of India expects the Reserve Bank of India to hold interest rates as inflation remains elevated, the chairman of country's largest lender Dinesh Kumar Khara said.
"The stance will continue to remain accommodative but they may not be in a position to cut interest rate in immediate future," Mr Khara told a summit organised by the Hindustan Times.
Mr Khara's comment comes only days before the monetary policy committee of the Reserve Bank of India (RBI), the country's central bank, is due to meet between Dec. 2 and Dec. 4.
Mirza International Surges 12% On Heavy Volumes
Shares of Mirza International rose as much as 20 per cent to hit an intraday high of Rs 64 on the back of heavy volumes.
As many as 9.27 lakh shares changed hands on the BSE compared with an average of 40,000 shares traded daily in the past two weeks.
Auto Stock Outperform In Rangebound Session
Auto shares were outperforming in an otherwise rabgebound session. The index of auto stocks Nifty Auto index was top sectoral gainer, up 2 per cent.
Top gainers in auto space:
- TVS Motor up 6%
- Exide Industries up 5.21%
- Tata Motors up 5.12%
- Ashok Leyland up 4.11%
- Amara Raja Batteries up 3.96%
Stock Market LIVE: HDFC, Reliance Industries, TCS Biggest Drags On Sensex
Contribution To Sensex (In Points):
Reliance Industries: -33.04
HCL Tech: -10.30
Power Grid: -8.23
Axis Bank: -6.76
UltraTech Cement: -2.83
Hindustan Unilever: -1.07
ICICI Bank: +8.86
Asian Paints: +9.51
Bajaj Auto: +12.27
Bajaj Finance: +12.70
Market LIVE Updates: Nifty Posts Highest Ever Series-On-Series Gains
"It was a historic month for the market as Nifty posted highest ever series on series gains (in absolute term). Bulls were aggressive from the start of the November series and kept the ball in their court throughout the series. The Nifty index marched above 13,000 mark for the first time in history and managed to conclude the November expiry a tad below the same. It gained by 1,316 points or 11.28 per cent over its October series close," said Motilal Oswal Retail Research.
"Traders cherished the outcome of US elections and Diwali festival as Indian markets reached to the record highs along with rally in global markets. Buying interest was seen across the board as all the sectoral indices ended the series in green... We witnessed good amount of long build-up in the recent rally of Nifty and most of these positions got rolled to next series as rollover stood at 78.68 per cent, which is higher than its quarterly average of 76 per cent," it added.
Market LIVE: Sensex, Nifty On Course To End Month Over 11% Higher
Still, both Sensex and Nifty were on course to end the month about 11.50 per cent higher - their second best monthly performance this year, after a 14.7 per cent gain in April - powered by record inflows from foreign institutional investors and progress on COVID-19 vaccines.
Stock Market LIVE: Sensex Down Over 100 Points, Nifty Near 12,950
At 11:19 am, the Sensex traded 138.34 points - or 0.31 per cent - lower at 44,121.40 while the Nifty was down 28.75 points - or 0.22 per cent - at 12,958.25. Selling pressure in financial and metal shares pulled the markets lower, however buying interest in automobile stocks limited the downside.
Negative Growth Coming Down Good For Markets: IDBI Capital's AK Prabhakar
"In spite of the impact of lockdowns, if negative growth starts to come down, that itself is positive," said AK Prabhakar, head of research at IDBI Capital.
"If it goes beyond a 13 per cent fall in GDP, it might have an impact on the markets. But if it's 9 per cent, that is very good," he added.
AstraZeneca Pharma Sheds 0.7% On Plans For A Fresh Vaccine Trial
AstraZeneca Pharma sheds 0.7 per cent to Rs 4471.80 on the BSE after parent AstraZeneca has said it will conduct a fresh trial of its covid-19 vaccine to test a lower dose that was accidentally administered and showed better efficacy than the full dose in its studies.
M&M To Acquire 2.76% Stake In TVS Group Firm TASL; Stock Up Nearly 1%
M&M will acquire 2.76 per cent stake in the TVS group firm TASL. And TASL will acquire the entire stake of Mahindra Holdings Ltd, a wholly-owned subsidiary of M&M, in Mahindra First Choice Services and its subsidiary Auto Digitech. The shares of M&M firmed up by more than half a per cent to Rs Rs 733.90 in a listless market on the back of the news development.
Market LIVE Updates: HDFC, HDFC Bank, TCS Biggest Drags On Sensex
Reliance Industries, HDFC, Tata Consultancy Services and HDFC Bank were the biggest drags on Sensex. On the other hand, gains in Kotak Mahindra Bank and Larsen & Toubro provided some support to the index.
Market LIVE: Rupee Rises To 73.79 Against Dollar
The rupee strengthened to as high as 73.79 against the US dollar on Friday, as against its previous close of 73.91. It moved within a narrow range of 73.78-73.80, having started the day stronger at 73.78 compared to its previous close of 73.91. The rupee is down 3.38 per cent against the dollar so far this year.
Stock Market LIVE: Mid-, Small-Cap Stocks Rise
Broader markets moved higher in the first hour of trade.
Here's how the mid- and small-cap segment indices fared on bourses BSE and NSE:
S&P BSE Midcap: +1.27%
S&P BSE SmallCap: +0.91%
Nifty Midcap 100: +1.36%
Nifty Smallcap 100: +0.68%
Nifty 500: +0.13%
Market LIVE Updates:: Market Breadth Favours Gains
Overall market breadth favoured gains with an advance-decline ratio of 2:1, as 1,290 shares rose on the BSE against 550 that fell. On the NSE, 1,179 scrips traded higher against 511 that moved lower.
Stock Market LIVE: Auto, Realty Shares Lead Gains; Bank, Metal Stocks Down
Here's how the NSE's sectoral indices fared:
Nifty Auto: +1.53%
Nifty Realty: +1.10%
Nifty Media: +0.97%
Nifty Pharma: +0.71%
Nifty PSU Bank: +0.50%
Nifty FMCG: +0.37%
Nifty IT: +0.19%
Nifty Private Bank: +0.02%
Nifty Financial Services: -0.08%
Nifty Bank: -0.14%
Nifty Metal: -0.35%
Market LIVE: Nifty Bank Edges Lower
The Nifty Bank -- which tracks stocks of 12 major lenders in the country, including State Bank of India, HDFC Bank and ICICI Bank -- was down 0.14 per cent, having fluctuated between gains and losses. The 12-scrip index had moved within a range of 29,466.50-29,716.85, as against its previous close of 29,549.75.
Market LIVE Updates: Sensex Up Nearly 50 Points, Nifty Near 13,000 In Early Trade
At 9:20 am, the Sensex traded 49.23 points - or 0.11 per cent - higher at 44,308.97 while the Nifty was up 12.45 points - or 0.10 per cent - at 12,999.45.
Top Nifty Gainers
Tata Motors: +2.19%
Asian Paints: +1.34%
Top Nifty Losers
Power Grid: -1.64%
JSW Steel: -0.75%
Reliance Industries: -0.55%
Dr Reddy's: -0.48%
Stock Market LIVE: Sensex Opens Over 50 Points Higher, Nifty Above 13,000
The S&P BSE Sensex index opened 65.29 points - or 0.15 per cent - higher at 44,325.03 and the Nifty began the day at 13,012.05, up 25.05 points - or 0.19 per cent - from its previous close.
Official GDP Data To Be Released Today
The country's gross domestic product (GDP) likely shrank 8.8 per cent in the July-September period, following a record contraction of 23.9 per cent in the previous quarter, economists in a poll by news agency Reuters forecast.
The economy is likely to have shown signs of a pick-up in the quarter to September after a record contraction the previous quarter, and is expected to recover early next year on hopes of better consumer demand fed by progress on coronavirus vaccines.
Market LIVE: SGX Nifty Futures Rise 30 Points
The Singapore Exchange's Nifty futures - an early indicator of the National Stock Exchange's (NSE) Nifty 50 benchmark index - rose 59.1 points, or 0.45 per cent, to touch 13,061.80 at the strongest level recorded ahead of the opening of Indian markets.
At 8:14 am, the SGX Nifty futures were up 29.55 points - or 0.23 per cent - at 13,061.80.
Market LIVE Updates: Sensex, Nifty Likely To Open Higher Today
Domestic stock markets are likely to start the last session of the week on a positive note, despite mild losses across Asia amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic.