Stock Market LIVE Updates: Sensex falls over 350 points, Nifty50 slides below 17,950; HDFC down 2%

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10:05:23 IST

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Nykaa shares make strong debut, shares list at 79% premium over issue price

Nykaa shares made a strong debut on Dalal Street on Wednesday, with shares listing at a premium over the issue price.

On BSE, the stock of FSN E-Commerce Ventures — which runs an online marketplace for beauty and wellness products under the name Nykaa — began its journey in the secondary market at Rs 2,001 apiece, a premium of 77.9 percent over the issue price of Rs 1,125.

On NSE, Nykaa shares debuted at Rs 2,018, a premium of 79.4 percent. (Read more on Nykaa listing)

09:44:42 IST

Nomura’s Kapil Singh says vision led by M&M management on EVs was bold

Kapil Singh of Nomura said in an interview to CNBC-TV18 that the vision led by the M&M management on electric vehicles was bold. The company’s growth target of 15-20 percent in the farm equipment segment is interesting, he said.

The company has done very well in the last few months with its launches, he said. 

09:24:03 IST

Sensex, Nifty50 extend losses after a weak start 

The Sensex fell as much as 430.5 points or 0.7 percent to hit 60,002.9 in the first few minutes after a weak opening. The broader Nifty50 benchmark slid to as low as 17,915.6, shedding  128.7 points (0.7 percent) from its previous close. 

09:18:09 IST

Global Cues | October CPI up 1.5% YoY vs Reuters poll of 1.4% 

China’s factory gate prices rose at the fastest pace in 26 years in October, beating forecasts and further squeezing profit margins for producers already grappling with soaring coal prices and other commodity costs due to a power crunch. The producer price index (PPI) climbed 13.5 percent from a year earlier, faster than the 10.7 percent rise in September, the National Bureau of Statistics (NBS) said.

09:14:38 IST

Pre-Open Market | Sensex down over 100 points, Nifty below 18,000

In the pre-opening session, the 30-scrip index was down 138.2 points or 0.2 percent at 60,295.3 and the broader Nifty50 benchmark was at 17,973.5, down 70.8 points or 0.4 percent from its previous close.  

09:13:19 IST

Don’t get carried away by exuberance in IPO market, avoid chasing highly priced public offers: Geojit’s VK Vijayakumar

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, suggests investors not get carried away by exuberance in the IPO market “where IPOs are made at a huge premium”.

“Today’s trading activity in the market is likely to be dominated by the listing and trading in Nykaa,” he said.

Even in this highly-valued market, there are some high-quality stocks available at reasonable valuations. For instance, in financial services and healthcare spaces, he said. 

09:08:31 IST

Stocks To Watch | Mahindra & Mahindra, Indraprastha Gas, Zomato, Vodafone Idea in focus today

–Bank of Baroda, Berger Paints, Zomato and NIIT are among the companies slated to announce their quarterly numbers today.

–Mahindra & Mahindra reported its financial results for the July-September period on Tuesday. (Check out the full list of stocks to track today)

09:03:09 IST

Stock Tips | Mahindra & Mahindra, Bharat Forge, NMDC among Sudarshan Sukhani, Mitessh Thakkar’s top picks 

–Sudarshan Sukhani of s2analytics.com recommends buying NMDC shares with a stop loss at Rs 141.

08:57:05 IST

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Fed doves look to midsummer for clarity on economy

Two of the Federal Reserve’s most dovish policymakers said on Tuesday that they expect to get more clarity on the post-pandemic economic outlook by next summer, when the US central bank is expected to finish winding down its asset purchases.

Whether that clarity leaves them convinced interest rates should stay at their current near-zero level for another year or more, or moves them to join the half of their fellow Fed policymakers who support more immediate rate hikes, will depend on two main factors, their remarks suggested: if inflation has begun to abate as they expect, and if workers are flooding back into the labor force as they have long hoped.

08:38:06 IST

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Nykaa set for D-Street debut today

E-commerce startup Nykaa is set to make its Dalal Street debut today. The initial public offer (IPO) of FSN E-Commerce Ventures, which runs an online marketplace for beauty and wellness products under the name Nykaa, concluded with a subscription of 82.4 times last week. (All you need to know about Nykaa’s listing)

08:30:38 IST

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Rupee ended nearly unchanged at 74.02 against dollar on Tuesday

The rupee pared initial gains to settle at 74.02 against the US dollar on Tuesday. During the session, the rupee moved within a range of 73.85-74.09 against the greenback. 

08:25:54 IST

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Dollar near one-month low to yen as inflation test looms

The dollar held a three-day loss against major peers and traded near a one-month low to the yen on Wednesday, with highly anticipated US inflation data looming that could guide the timing of a Federal Reserve interest rate increase.

The dollar index — which measures the greenback against six rivals — was little changed at 93.970 after retreating gradually from a more than one-year peak at 94.634 reached on Friday.

08:22:34 IST

PM Modi to launch RBI’s retail direct scheme on November 12

08:19:41 IST

MarketBuzz Podcast With Ekta Batra

Catch the big themes, vital news and key events you should know before the opening bell, powered by CNBC-TV18 anchors. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors to kickstart your day. (Tune in)

08:15:37 IST

Global Cues | Asian markets under pressure after China inflation data; SGX Nifty indicates gap-down opening for Indian market

08:03:57 IST

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Trade Setup | Nifty50 to stay rangebound for longer?

The Nifty50 index has formed a small negative candle on the daily chart with a lower shadow, hinting at the continuation of rangebound action below crucial resistance at 18,100, according to Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities.The headline index could eventually break above the hurdle of 18,100 and move towards next resistance at 18,350 in the near term, he said. (Check out key market cues before today’s session)

08:02:17 IST

Asian shares track Wall Street lower

Asian markets fell tracking overnight losses in the US, with MSCI’s broadest index of Asia Pacific shares outside Japan down 0.2 percent in early deals.

Japan’s Nikkei 225 index was down 0.3 percent. China’s Shanghai Composite and South Korea’s KOSPI were down 0.8 percent each, Hong Kong’s Hang Seng down 0.3 percent and Singapore’s Straits Times down 0.6 percent.

07:53:23 IST

Wall Street halts record-breaking spree

Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off. The three main indices closed 0.3-0.6 percent for the day.

07:48:31 IST

Sensex, Nifty snapped 2-day winning run on Tuesday 

The 30-scrip index fell 112.2 points or 0.2 percent to end at 60,433.5 on Tuesday and the broader Nifty50 benchmark settled at 18,044.3, down 24.3 points or 0.1 percent from its previous close. Losses in financial, consumer and metal shares pulled the headline indices lower, though gains in oil & gas and automobile shares provided some support. (Read more on the Nov 9 session)

07:31:00 IST

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