MARKETS: Sensex, Nifty remain restless; The most affected private banks

Markets at 11 a.m.

LIVE Market Updates: Benchmarks largely recovered from the morning’s losses but remained volatile. The Sensex BSE was at 57,114, down 10 points, and the Nifty 50 continued to stay below 17,000, at 16,994.

The BSE MidCap index was almost 0.3% lower, due to losses from RBL Bank, Lodha, UBL, Endurance, JSW Energy, Jindal Steel, Gujarat Gas.

The SmallCap Index, on the other hand, was in the green up 0.13%.

The Nifty Private Bank Index was the biggest loser, down 1.1%. Bandhan Bank, IndusInd, IDFC First, RBL Bank led the losses.

That aside, shares of Kabra Extrusion Technik hit a new all-time high of Rs 412.70, as they rallied 16% on BSE in Monday’s intraday trading after the company announced a capital expenditure plan (capex) of up to Rs. 100 crore for the expansion of the battery division. READ MORE.

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Markets at 10 a.m.

Live Markets Update: Frontline indices were down from the day’s lows after partially recovering losses. The Sensex BSE was down 73 points to 57,051, while the Nifty50 edged down to 16,978, down 25 points.

Among the indices, with the exception of pharma (0.75%) and health (0.6%), the rest traded negatively on the NSE. Real estate and private banking indices were down 1% each. All of the larger Indies were also in the red zone.

The volatility index rose nearly 6 percent, suggesting a sense of weakness among investors.

Of the Sensex-30 components, only PowerGrid, M&M, Dr Reddy’s Lab, Sun Pharma, HDFC, Kotak Bank and NTPC were positive.

New list

The adhesives and sealants company HP Adhesives has made a decent start in the market, with its shares listed at Rs 319, a 16% premium over its issue price of Rs 274 per share on the market. ‘ESB. The stock opened at Rs 315, 15 percent higher than its issue price on the National Stock Exchange (NSE). READ MORE.
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Opening bell

LIVE Market Updates: Benchmarks opened lower on Monday amid weak sentiment. The Sensex BSE traded at nearly 500 points to hit a level of 56,618 while the Nifty50 was at 16,891, down 158 points.

In the larger markets, the BSE MidCap and SmallCap indices were also in the red zone, trading down 1%.

Among the individual actions that make up the Sensex, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Asian Paints, Maruti Suzuki and Axis Bank were among the biggest losers who slipped 0.7 percent to 4.6 percent.

RBL Bank lost 15 percent to Rs 146 levels after the bank said over the weekend that Vishwavir Ahuja, its managing director and managing director, had gone on leave after the Reserve Bank of India appointed Yogesh K Dayal as director additional from the bank. The action for RBL is important in light of the problems faced by private lenders like YES Bank and Lakshmi Vilas Bank last year. READ MORE HERE

Global indices

Asian stock markets were generally weaker with U.S. crude in trade cleared Monday as uncertainty over the economic impact of the Omicron coronavirus variant weighed on investor sentiment. Japan’s Nikkei lost 0.20% while South Korea’s Kospi lost 0.11%.

Mainland Chinese stocks, however, were mixed, with the Shanghai benchmark slipping 0.37%, but a blue chip index edged up 0.05%. Australia, Hong Kong and Great Britain are among the markets closed on Monday for public holidays. READ HERE

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Pre-open session

LIVE Market Updates: Benchmarks suggest a weak start for Indian markets. The Sensex BSE was down almost 170 points to the 56,956 level, while the Nifty50 was at 16,923, down 80 points.

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LIVE Market Updates:

In the absence of clear indications from the global market and growing concerns over Omicron, benchmarks are expected to open timidly on Monday. Investor sentiment may remain low as several states such as Delhi, Karnataka and Maharashtra apply new restrictions due to the increase in Covid-19 cases.

Financial stocks are likely to be in the spotlight, after the RBI accepted the recommendation of an internal task force (IWG) to allow non-promoters to hold up to 15% in sector banks private.

New list

HP Adhesives is about to make its market debut today. The gray market premium indicates a price gain of around 20 to 25% for the share.

In the Primary market, Travel service provider TBO Tek Ltd has filed a preliminary prospectus with capital markets regulator Sebi to raise Rs 2,100 crore through an initial public offering. The public offering includes a new issue of shares up to Rs 900 crore and an offer to sell valued at up to Rs 1,200 crore by existing promoters and investors.

Global indices

Asian market signals were mixed this morning. China’s Shanghai Composite and Taiwan indices rose 0.2% and 0.3% respectively, while Nikkei and Kospi fell 0.2% each. The Straits Times was flat.

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