Live market updates: Sensex below 59K for the first time in almost 2 months; all sectors bleed; Airtel jumps 4% on tariff increase plan, RIL drops 3%

See this place as we bring you LIVE updates of the day’s progress from Dalal Street.

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Jefferies lowers RIL target price to Rs 2,880

Jefferies has lowered its O2C valuation to $ 70 billion after the cancellation of the Aranmco agreement. It has also lowered the price target by 4 percent to Rs 2,880 from Rs 3,000, but maintained the ‘buy’. “Both parties deciding not to proceed with the proposed transaction is a disappointment. Cancellation has no bearing on RIL’s balance sheet and its ability to finance the renewed touch,” it added.

Go Fashions subscribed over 11x on day 3

The Rs 1,014 crore IPO of Go Fashions (India) continued to receive a strong response from investors on the last day of the bidding process. The edition, which was launched for subscription on Wednesday, sailed through on the very first day. The company sells its shares in the range of Rs 655-690 during the three day bidding process. According to data from the NSE, the issue attracted bids for 8,50,87,716 shares or 10.53 times from 1 p.m. 11.06. The company offered 80.79,491 shares in its initial share sale. The question offered strong bids from the retail bidders in the first two days. But the relay seems to have been passed on to QIBs, who usually crowd the IPO market on the last day of the bidding process.

Vedanta wins 4% as SC allows the government to divest its stake in the Hindustan Zinc arm

Shares of Vedanta rose 4 percent in early trading on Monday after the mining giant said the Supreme Court had allowed the government to proceed with a proposal to divest its entire stake in Hindustan Zinc Ltd – a subsidiary of Vedanta – on the open market.

Paytm falls 10%, eroding investor wealth by 35% in two days

Shares of Paytm parent company One97 Communications fell 10 percent in Monday’s trading, in addition to a 27 percent dip at its debut on Thursday, though the company said its gross commodity value – or payments made to traders through its platform – rose 131 percent. to $ 11.2 billion last month from a year earlier.

Paytm falls 10%, eroding investor wealth by 35% in two days

India VIX, the barometer of market volatility and fear, rose as much as 7 percent before gains were reduced. It has risen 4 percent at the 15.43 level as now.

Telecom receivers rise after Airtel raises prepaid rates

Price per. November 22, 2021 09:43, Click on company names for their live prices.

Nifty has corrected around 4.5% from the highest level ever. The risk-off mood in global markets can gather strength on new Covid cases in Europe and lockdowns in countries such as Austria. The dollar index, which rises above 96, is another concern, while the fall in crude oil is positive for India. The disastrous listing of Paytm may make sense to the exuberant listing ratings. FIIs are likely to accelerate sales in this risk-off environment. Retail investors do not have to rush in to buy in case of fall. Partial profit booking and raising of the liquidity level in the portfolio can be considered. Calibrated IT procurement can be considered in case of sharp falls, as IT is the clear leader of this rally.

– VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services

Voda Idea, Airtel among the most active stocks on the NSE

Price per. November 22, 2021 09:24, Click on company names for their live prices.

OPENING CLOCK: Sensex drops 250 points, Nifty50 below 17,700; RIL tanks 3%, Airtel jumps 3%

OPENING CLOCK: Sensex drops 250 points, Nifty50 below 17,700;  RIL tanks 3%, Airtel jumps 3%

Pre-open session: Sensex rises 80 points, Nifty at 17,700

SGX Nifty signals a positive start

Fine futures on the Singapore Exchange traded 31.50 points, or 0.18 percent, higher at 17,735.50, signaling that Dalal Street was heading for a positive start on Monday.

Tech View: Nifty50 has support at 50-EMA

Nifty50 on Thursday formed a bearish light on the daily scale. Analysts believe that a fall below the 50-day exponential moving average (EMA) that the index maintained on Thursday could open doors for more weakness ahead.

Hong Kong stocks barely moved at opening

Hong Kong stocks opened flat Monday morning after last week’s losses, with Wall Street giving a lukewarm lead and traders also keeping track of central banks’ monetary policy plans in the face of rising inflation. The Hang Seng Index rose 7.09 points to 25,057.06. The Shanghai Composite Index rose 0.07 percent or 2.39 points to 3,562.76, while the Shenzhen Composite Index on China’s other stock rose 0.16 percent, or 4.04 points, higher to 2,494.31.

Japan stock opens lower after Dow’s loss

Tokyo stocks opened lower on Monday as investors became cautious after the Dow index ended last week. The benchmark Nikkei 225 index fell 0.45 percent or 132.74 points to 29,613.13 in early trading, while the broader Topix index fell 0.65 percent or 13.20 points to 2,031.33.

US stocks fell mostly on Friday

Wall Street closed a week of volatile stock trading, mostly lower on Friday, though gains for several technology companies pushed the Nasdaq lineup to another record high and its initial close above 16,000 points. The Dow Jones fell 0.75 percent to 35,601.98. The S&P 500 fell 0.14 percent to 4,697.96. Nasdaq added 0.40 percent to 16,057.44.

FPIs sell shares worth Rs 3,931 crore

Net-net, foreign portfolio investors (FPIs) turned sellers of domestic equities worth Rs 3,931 crore, suggested data available with NSE. DIIs were net buyers worth Rs 1,885.66 crore, data suggest.

Rupee rises 4 paise against dollar

The rupee erased most of its initial gains on Thursday to settle week 4 paise higher at 74.24 against the dollar. A certain decline in crude oil prices and a weak dollar in the overseas market supported the local unit.

Market to resume trading after long weekend

India’s currency, debt and stock markets were closed on Friday due to a public holiday. Markets will resume trading today. The NSE Nifty 50 index closed 0.75 percent lower at 17,764.80 on Thursday, while benchmark S&P BSE Sensex fell 0.62 percent to 59,636.01.

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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