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Oct 20, 2021 4:52 PM

Wait out for 2-3 trading sessions before investing: Kunj Bansal

Kunj Bansal, CIO of Karvy Capital, said in an interview to CNBC-TV18 that one should wait for a day or two to get a better idea of which approach is best in the market now. "In the remaining two days (of the week), the market might again bottom out and shoot up, who knows. Wven if that happens, the investor is reasonably certain that volatility has gone away. If that doesn’t happen, maybe the market will continue to correct; then also we have a lower level. If it doesn’t correct, it is stabilised. In either case, a medium-term investor who has waited till now, who has surplus money to invest, should wait out for 2-3 more trading sessions and then look to invest," he said.

Oct 20, 2021 4:51 PM

Correction has been on cards for quite some time: Prakash Diwan

Market expert Prakash Diwan said this kind of correction has been on the cards for quite some time. "We have been waiting for it. It was always difficult to time it perfectly but the exuberance that you see in some of the valuations was unsustainable. So this is not something which is surprising. The market has given us many instances in the recent past where it has been a very promising buy-on-dips strategy that works," he said.

"But it may take some time and it may lead to a lot of choppiness. I would believe it is best to sit on cash for some time, see what happens and look at the businesses that are more sustainable which are available at reasonable valuations and start allocating money to those but don’t be in a hurry to buy these dips," he said.

Oct 20, 2021 4:41 PM

Rupee appreciates to end at 74.87 against dollar

The rupee ended at 74.87 against the dollar, as against its previous close of 75.34.

Oct 20, 2021 3:57 PM

Market At Close | Midcap index sheds over 1,300 points in two days, biggest two-day fall in six months

Oct 20, 2021 3:56 PM

On Jubilant Foodworks | Prakash Diwan, Market Expert

It still needs to shed some weight on the valuations not just because the mood is slightly sullen today but what is important is we need to understand that while there could be a comeback of growth in consumption is definitely kicking in, it is the inflationary impact that we have underestimating and once that goes up, it is extremely difficult for businesses like these to be able to increase prices. My sense is that while you might see a decent topline continuity in terms of growth, there could be some sort of a margin pressure and that means the profitability would impact. There could be some more sell off on this and once it reaches the healthier state then it stands out as probably a buy but not at this point in time.

Oct 20, 2021 3:43 PM

Market at close

Broader market-led sell-off continues for the 2nd straight session Midcap index falls over 1,300 pts in 2 sessions, biggest 2-day fall in 6 mths Stocks that saw a bull-run in last few weeks, see a major beating Majority of midcap stocks close with cuts; nse advance-decline ratio at 1:4 Sensex falls 456 points to 61,260 & nifty 152 points to 18,267 Nifty bank slips 22 pts to 39,518 & midcap index 692 pts to 31,538 Nifty PSU bank gains the most amongst indices, with index rising over 1% 41 nifty stocks close in the red; Hindalco, BPCL, Titan, HUL, IOC top losers Irctc down 19% today & 25% in last 2 sessions Chemical shares (Deepak Nitrite, Aarti Ind, Tat Chem) fall after Navin fluorine earnings Jubilant food ends 8% amid volatility following earnings, sssg of 26.3% below estimates Telecom cos saw overall subscriber additions falling in august, stocks end higher today Voda Idea ends 7% higher after co announces deferment of spectrum installment by 4 yrs PSU banks gain in a weak session of trade, sbi hits record high, union bank up 6% Metropolis, BHEL, Zee Ent, Indus Towers, Indian Hotels top midcap gainers

Oct 20, 2021 3:41 PM

Market Watch: Prakash Diwan, Market Expert

This kind of a correction has been on the cards for quite some time, we have been waiting for it. It was always difficult to time it perfectly but the exuberance that you see in some of the valuations was unsustainable. So this is not something which is surprising. The market has given us many instances in the recent past where it has been a very promising buy on dips strategy that works. But it may take some time and it may lead to a lot of choppiness. I would believe it is best to sit on cash for some time, see what happens and look at the businesses that are more sustainable which are available at reasonable valuations and start allocating money to those but don’t be in a hurry to buy these dips.

Oct 20, 2021 3:39 PM

Top gainers and losers on Nifty

Gainers:

Bharti Airtel (3.96%)

SBI (2.66%)

Tata Motors (1.62%)

IndusInd Bank (0.76%)

Adani Ports (0.60%)

Losers:

Hindalco (-3.94%)

BPCL (-2.66%)

Titan (-2.61%)

Bajaj Finserv (-2.34%)

Hindustan Unilever (-2.30%)

Oct 20, 2021 3:39 PM

Closing Bell | Sensex falls 456 points to 61,260, Nifty50 at 18,282

The Sensex index dropped 456.1 points or 0.7 percent to end at 61,260 and the broader Nifty50 benchmark shed 136.5 points (0.7 percent) to settle at 18,282.3. (Read more on the market at close here)

Oct 20, 2021 3:37 PM

Closing Bell: Sensex tanks 450 points, Nifty at 18,200

The Indian equity benchmark indices closed over half a percent lower Tuesday even as global markets strengthened. Sensex, the 30-stock index, closed 456 points or 0.74 percent lower at 61,259 and the 50-scrip index, Nifty was down 152 points or 0.83 percent to 18,266.

Oct 20, 2021 3:35 PM

Just Dial stock down over 3% ahead of Q2 result

Just Dial shares slipped over 3 percent Wednesday ahead of its second-quarter earnings announcement. In the first quarter of FY22, Just Dial had reported a net loss of Rs 3.5 crore against a net profit of Rs 83 crore in the same period last year.

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Oct 20, 2021 3:25 PM

Mindtree shares rise over 0.5%

Mindtree—an IT software company with a market cap of over Rs 70,000 crore—has announced that Western Asset has selected it as a strategic partner for enterprise innovation and transforming IT services. The shares rose over half a percent after the news.

Oct 20, 2021 3:21 PM

Vodafone Idea, Airtel surge after DoT reached out to telcos

Telecom stocks surged after govt announced the contours of the relief package. The shares of Vodafone Idea, Bharti Airtel, Indus Towers rose as much as 10, 5, and 6 percent, respectively.

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Oct 20, 2021 3:17 PM

HPCL says current crude oil prices high for India, $60-70/bbl comfortable

State-run oil marketing company Hindustan Petroleum said the current rates of crude oil are high for India, and levels of $60-70 per barrel are comfortable. The demand for diesel is better now compared with 2019, it said.

Oct 20, 2021 3:00 PM

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