Table of Contents
Welcome to the Mint live blog. Track this space for latest stock market updates:
16 Sep 2020, 12:44:43 PM IST
Fragility of NBFCs is a concern and they are still not at par with banks in terms of regulation, says RBI Governor: Agencies
Regulation at non-banking financial companies still not on a par with that at banks, Das said at a Ficci event, adding that the RBI does not want another shadow bank to fail and is closely monitoring top 100 non-banks.
16 Sep 2020, 12:35:35 PM IST
China sends satellites into space in first sea-based commercial launch: Reuters
16 Sep 2020, 12:34:31 PM IST
Banks among worst hit on Sensex
16 Sep 2020, 12:33:19 PM IST
M&M extends gains
16 Sep 2020, 12:15:55 PM IST
14 feared drowned as boat capsizes in Rajasthan’s Chambal river: Hindustan Times
16 Sep 2020, 12:08:08 PM IST
Nifty PSU Bank among worst hit sectoral indices
16 Sep 2020, 12:07:03 PM IST
Lakshmi Vilas Bank hit 10% upper circuit on update on Clix Group merger
Private sector lender Lakshmi Vilas Bank on Tuesday said the mutual due diligence for its deal with Clix Group is “substantially complete”.
“We wish to inform that the mutual due diligence is substantially complete, and the parties are in discussions on the next steps,” the bank said in a regulatory filing.
The bank has shortlisted three firms for a valuation exercise and is likely to finalise one over the next week, said a person aware of the matter.
16 Sep 2020, 11:55:41 AM IST
High-frequency indicators point to a trough in economic indicators: RBI Governor Das
Uptick noticed in June and July seems to have levelled off now for some sectors: Das
16 Sep 2020, 11:43:09 AM IST
Economic recovery is not fully entrenched; recovery to be gradual, says RBI Governor Das: PTI
Persistently large liquidity infusion by RBI has ensured large borrowing by the government at low rate and in non-disruptive manner, said Das at a Ficci event.
16 Sep 2020, 11:41:14 AM IST
Indian rupee at 73.77 per dollar vs Tuesday’s close of 73.63/$
The unit had opened at 73.70 per dollar.
16 Sep 2020, 11:34:17 AM IST
RIL hit fresh high of ₹2,368.80 apiece; market cap touched ₹16 trillion
The stock had risen 2.2% to hit a fresh record high of ₹2368.8 on the BSE briefly, pushing its valuation over ₹16 trillion, before pulling back. At 11.33am, the stock was at ₹2349.20.
16 Sep 2020, 11:20:42 AM IST
SpiceJet marginally up after opening in the red; ATF prices cut
16 Sep 2020, 11:19:05 AM IST
Nifty sectoral indices
16 Sep 2020, 10:59:10 AM IST
SC rejects govt plea challenging $499 man arbitral award in Vedanta’s favour: CNBC-TV18
Supreme Court upholds arbitral award allowing cost recovery of $499 m by Vedanta for Ravva Oil fields.
16 Sep 2020, 10:54:29 AM IST
Most active stocks on Nifty
16 Sep 2020, 10:50:38 AM IST
Karnataka clears NMDC application to resume mining operations at Donimalai
Karnataka government has cleared NMDC Ltd’s application to commence mining operations at Donimalai, two years after production was suspended in the seven-million-tonnes-per-annum mine in the mineral-rich Ballari district of the state.
16 Sep 2020, 10:44:16 AM IST
Japan’s Suga formally voted in as PM, readies ‘continuity cabinet’: Reuters
16 Sep 2020, 10:42:14 AM IST
EPFO looks at criminal action to recover stressed investments: Indian Express
EPFO is considering exercising all legal options, including criminal action, against companies for recovery of its stressed debt investments amounting to over ₹12,800 crore.
At its meeting last week, the Central Board of Trustees (CBT) chalked out a plan of action after discussing the status reports of the risky investments spread across companies including Reliance Capital, DHFL, IL&FS, Yes Bank, Indiabulls and IDFC, three CBT members said. Measures for recovery will be taken for each company separately on “priority basis”, they said.
16 Sep 2020, 10:39:34 AM IST
Shapoorji Pallonji Group falters again on repayments to Sterling & Wilson Solar
The Shapoorji Pallonji group has told group company Sterling & Wilson Solar Ltd (SWSL) that it is unable to repay over Rs1,000 crore in dues, schedule for June and September, as per a filing to the stock exchanges on Wednesday.
The repayment is part of dues worth ₹2,644 crore that the promoters owe to SWSL. The loan was to be repaid within 90 days of Sterling and Wilson Solar’s IPO, which ended mid-November 2019.
The promoters had sought an extension for repaying the loans, blaming “significant and rapid deterioration in the credit markets. The promoters have so far repaid ₹1,500 crore the company, with ₹500 crore due on 30 June and rest due by 30 September.
16 Sep 2020, 10:34:00 AM IST
Nifty technicals: Sameet Chavan, chief analyst-technical and derivatives, Angel Broking
“…Indices seemed to have lost clear direction and are clearly trapped in a range…For Nifty, if 11570 is taken out, we would see some extension towards 11625 – 11675 levels and if this has to happen, the banking stocks needs to replicate yesterday’s move. On the flipside, 11450 followed by 11380 are to be seen as key supports. Yesterday for the second day, stocks from the broader market kept buzzing. However, this is nowhere similar to mid n small cap rally that we witnessed in previous couple of months. Hence, one needs to pick the right stock and should keep booking timely profits. Apart from this, Pharma stocks had a good first half yesterday after a brief pause of nearly 2-3 weeks. We reiterate, one should follow stock specific moves but avoid aggressive bets.”
16 Sep 2020, 10:26:42 AM IST
Nifty Bank down
16 Sep 2020, 10:22:56 AM IST
Axis Bank worst hit stock on Sensex at this hour
16 Sep 2020, 10:03:08 AM IST
BSE SmallCap up 0.38%
16 Sep 2020, 09:55:56 AM IST
Nifty Auto surges over 2%
16 Sep 2020, 09:47:46 AM IST
BSE MidCap continues to rally, outperforms Sensex
16 Sep 2020, 09:46:42 AM IST
Nifty broad market indices
16 Sep 2020, 09:45:07 AM IST
Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
“We have moved a wee bit closer to the 11550 level this morning, we need to get past this for an impulsive rally to commence. Until then we will be stuck within a low volume range of 11400 – 11550. Once we cross the levels of 11550-11575, we can look forward to 11800 and then 12000.”
16 Sep 2020, 09:43:28 AM IST
Piramal Enterprises up over 1% in subdued market
Blackstone Group and Partners Group Holding AG are vying for a controlling stake in Piramal Enterprises Ltd’s glass unit, Bloomberg has reported.
16 Sep 2020, 09:39:53 AM IST
With this latest spike, the India’s case load stands at 50,20,360, of which 9,95,933 are active 39,42,361 have been cured/discharged/migrated, the health ministry said.
Death toll rose to 82,066 after 1,290 deaths in the last 24 hours.
16 Sep 2020, 09:35:45 AM IST
M&M top gainer on Sensex at this hour
Mahindra and Mahindra’s overseas subsidiary SsangYong Motor was close to signing a binding investment agreement with US-based HAAH Automotive Holdings, the Economic Times has reported citing Korean media. Mahindra had earlier announced that it will not make any further investments in the ailing SUV-maker and wanted to give up its controlling stake.
16 Sep 2020, 09:21:46 AM IST
Sensex stocks in early deals
16 Sep 2020, 09:20:55 AM IST
Nifty in opening deals
16 Sep 2020, 09:19:51 AM IST
Market at open
16 Sep 2020, 09:17:30 AM IST
Gold prices struggle ahead of US Fed statement, down ₹4,500 from highs; silver falls
On MCX, gold futures rose 0.08% to ₹51,810 per 10 gram while silver futures slipped 0.07% to ₹68,921 per kg. Gold prices had hit a record ₹56,200 last month.
In global markets, gold moved lower after hitting a two-week high in the previous session. Investors turned cautious ahead of the US Fed policy decision, due later today, amid a flat dollar.
Spot gold was down 0.2% to $1,952.15 per ounce, after rising to $1,971.71 in the previous session.
16 Sep 2020, 09:14:08 AM IST
Jet fuel price cut by 7% to ₹39,492.53/kL in Delhi: IOC
16 Sep 2020, 09:11:20 AM IST
China gives covid vaccine to thousands under emergency use programme: Reuters
16 Sep 2020, 09:08:09 AM IST
Sensex stocks at pre-open
16 Sep 2020, 09:05:06 AM IST
Nifty at pre-open
16 Sep 2020, 09:04:29 AM IST
Market at pre-open
16 Sep 2020, 08:58:15 AM IST
Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
“We did inch towards the 11,550 levels but could not conquer it; it is imperative this happens as that would signal a new impulse rally on the upside. That rally could take us to 11800 and then towards 12000.”
16 Sep 2020, 08:50:34 AM IST
Nepal wakes up to 6.0 magnitude earthquake, no damage reported
16 Sep 2020, 08:49:05 AM IST
Lok Sabha passes bill to cut MPs’ salaries amid uproar over MPLADS
The Lok Sabha on Tuesday passed a bill to reduce the salaries of lawmakers by 30% for one year in view of austerity measures needed to mitigate the fallout of disruptions caused by the covid-19 pandemic.
The Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020, was introduced in the Lower House on Monday by Union parliamentary affairs minister Pralhad Joshi. It will replace the Salary, Allowances And Pension of Members of Parliament (Amendment) Ordinance, 2020 brought in April.
16 Sep 2020, 08:21:18 AM IST
Oil prices tick higher
Global benchmark Brent crude rose 0.79% to $40.85 per barrel and U.S. West Texas Intermediate crude ticked up 1.02% to $38.67 a barrel.
16 Sep 2020, 08:20:21 AM IST
RBI governor Shaktikanta Das to address Ficci members today
16 Sep 2020, 08:16:15 AM IST
SGX Nifty lower in early deals
SGX Nifty futures were down 0.3% at 11,498.00 points, indicating a weak start for Indian benchmark equity indices.
16 Sep 2020, 08:05:58 AM IST
Asian stocks trade on a mixed note ahead of US Fed meeting
Asian stocks were little changed on Wednesday as investors awaited a Federal Reserve meeting to gauge the extent of central bank support for the economic recovery, Bloomberg reported. Crude oil extended gains.
Japan’s Topix index added 0.1%, Hong Kong’s Hang Seng rose 0.4%. Shanghai Composite slid 0.1% and Australia’s S&P/ASX 200 Index rose 0.7%.
South Korea’s Kospi index dipped 0.1%.
16 Sep 2020, 08:03:36 AM IST
Wall Street stocks rise on hope of supportive US Fed stance
US stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank’s two-day meeting got underway, Reuters reported.
Advances, however, were capped as Apple Inc’s shares lost early gains following its rollout of a new virtual fitness service and a bundle of all its subscriptions, Apple One.
The Dow Jones Industrial Average rose 82.51 points, or 0.29%, to 28,075.84, the S&P 500 gained 24.6 points, or 0.73%, to 3,408.14 and the Nasdaq Composite added 153.85 points, or 1.39%, to 11,210.50.