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<ul><li>Sensex plunged nearly 600 points, while the Nifty crashed 1.34% to close at 11,729.60 points at the end of trading on Wednesday (October 28).</li><li>Rising COVID cases globally have kept markets under pressure. US presidential elections, as well as assembly elections in Bihar, are another factor. </li><li>Market experts, however, believe that the correction has not begun yet in Indian equity markets. </li></ul>The Indian stock-market indices have fared better compared to its global peers so far this month. But today, Sensex plunged nearly 600 points, while the Nifty crashed 1.34% to close at 11,729.60 points. The sell-off was led by banking and metal stocks. India vs global markets <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock market index </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance since October 1 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dow Jones Industrial Average </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.27% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S&amp;P 500 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.29% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DAX Performance Index </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SSE Composite Index </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.08% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.17% </td></tr></tbody></table> The market had been holding up despite weak cues from global markets — US elections, stimulus package concerns, and rising COVID-19 cases in Europe. Back home, assembly elections are underway in Bihar, and the October series F&amp;O expiry kept the markets jittery. Market experts, however, believe that the ‘correction has not begun yet.’ “We broke the levels of 11700 and briefly visited 11684, which is around the lower end of the range, but we bounced back to close above 11700. These are crucial times for trading as a break of 11650 could trigger a fresh wave of shorts which could take the markets down to 11400-11450,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments. Here’s why Sensex witnessed 600 point sell-off in trade today. What led to the sharp fall? <ul><li>Weak global cues amid a resurgence of coronavirus cases in Europe, slow progress on vaccines </li></ul>Indices across Asia felt the pain in trade today as concerns over US stimulus kept investors jittery. Indian indices fell the most amongst emerging Asian markets today. Bourses in Hong Kong and Tokyo ended in the red, while Shanghai and Seoul were in the positive territory. Although the coronavirus pandemic has shown a declining trend in India — some of the major European countries are witnessing the second wave of coronavirus. According to Paras Bothra, President of Equity Research, Ashika Stock Broking, “Uncertainty with regards to the second wave of a virus and setbacks to some of the covid vaccines are the biggest risks for the market.” <ul><li>US presidential elections and Bihar assembly elections in the spotlight </li></ul>The ongoing elections in the US will decide the leader of the world’s largest economy. As the US elections inch closer to the November 3 deadline, the uncertainty continues to loom among the investors. According to Keshav Lahoti, Associate Equity Analyst at Angel Broking, “the volatility is expected to continue in the market on the eye of key events of the US election.” And, back home, Bihar is the first state to go to polls amidst this pandemic. Polling for the first phase of elections in Bihar’s assembly elections gathered momentum. At 3 pm, the Election Commission had registered 46.29% voting in 16 districts. <ul><li>F&amp;O expiry jitters </li></ul>The volatility in the market was also due to profit-booking ahead of the monthly F&amp;O Expiry tomorrow. An expiration date in derivatives is the last day that derivative contracts, such as options or futures, are valid. Analysts believe ‘correction has not begun yet’ While analysts remain bullish on the long term prospects of the Indian market, they expect the coming next few weeks are crucial — given the surging Covid cases in Europe, impasse over the second US stimulus bill, and the very important US Presidential elections in November. “I would not term this as a correction as I do not feel a correction has begun. We will consider the beginning of a corrective move when we break the level of 11650. From that point, we could witness a short term pit stop at about 11450, where lies the next support level. Investor sentiments continue to remain bullish,” said Hathiramani. Jyoti Roy, Equity Strategist at Angel Broking, also said it would not be correct to state that markets are witnessing a correction as the Nifty is trading at a level of around 12,000, which is very close to its all-time highs. He believes that further upmove from current levels will be dependent upon positive news flows on the vaccine front along with the positive outcome of other key events. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-hero-moto-airtel-tata-motors-icici-bank-adani-gas-marico-titan-dr-reddys-and-others/articleshow/78903221.cms">Top stocks to watch — Hero Moto, Airtel, Tata Motors, ICICI Bank, Adani Gas, Marico, Titan, Dr Reddy’s and others</a> <a href="https://www.businessinsider.in/politics/world/news/trumps-official-campaign-website-briefly-offline-after-hackers-appeared-to-take-control-and-claim-they-had-full-access-to-trump-and-relatives/articleshow/78902375.cms">Trump's official campaign website briefly offline after hackers take control and claim they had 'full access to Trump and relatives'</a>

Elections, rising global COVID cases, and F&O expiry keep markets jittery — but experts believe ‘correction has not begun yet’

<ul><li>Sensex plunged over 1,100 points, while the NSE Nifty crashed 326.30 points to close at 10,805 points on Thursday</li><li>Analysts explain the reasons behind Sensex losing over 2500 points in one week— and here’s why this may continue in the next session.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The blood-bath in the Indian stock-market continued with markets ending lower for the sixth straight session today. The 30-share BSE index, Sensex plunged over 1,100 points, while the NSE Nifty crashed 326.30 points to close at 10,805.55 points. The selloff was led by banking, IT and metal stocks. The sell-off today eroded nearly ₹4 lakh crore from investors’ wealth in a single trading session. Fears of fresh lockdown in Europe and heavy FII outflows weighed on investor sentiment leading to a 7% fall this week in the Indian stock market. This is the second-worst fall this year after the recent <keyword id="560410" type="PERSON" weightage="20" keywordseo="Market-crash">market crash</keyword> in March. These were the top losers and gainers in the Nifty pack at the end of the trade: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr></tbody></table> These are the reasons behind Sensex losing over 2500 points in one week, according to top analysts — and here’s why they believe more weakness is in store. What led to the sharp fall? <ul><li>Weak global cues</li></ul>Global indices across Asia felt the pain in trade today as concerns over the rising coronavirus cases across the world keps investors jittery. Indian indices fell the most amongst emerging Asian markets today. According to Arun Kumar, Market Strategist at Reliance Securities, the current deterioration in the Indian equities is due to negative global cues followed by relatively heavy selling by FIIs on the cash segment. “The Information Technology sector, led by TCS &amp; Infosys lost almost eight days gains in just one trading session. Additionally, the bellwether sector Banks also failed to garner any buying interest and collapsed as bears pressed ahead with their selling pressure. The Nifty 50 has edged closer to its long-term average of 10,760 (200 DMA). Any fresh selling below this point would damage the medium-term sentiments of the market,” he said. <ul><li>Resurgence of coronavirus cases </li></ul>Analysts believe the looming COVID-19 uncertainty in the US and Europe also contributed to the downfall in the global market. "Given the uncertainty to economic outlook from the second wave of covid, US presidential elections and the US stimulus package, investors are shunning risky assets. Commodities and equities have sold off," said Abhishek Goenka, Founder and CEO, IFA Global. <ul><li>Strong dollar and FII outflows</li></ul>“The ‘Dollar Index’ which we had recently highlighted for its breakout has moved higher which too is not good for the equity markets. The immediate support for Nifty is placed in the range of 10800-10750 followed by 10670, whereas 11000-11100 will be seen as resistance on pullback moves. Thus, we continue with our advice for traders to stay light and avoid overnight positions,” Ruchit Jain Senior Analyst — Technical and Derivatives at Angel Broking said. <ul><li>F&amp;O expiry jitters</li></ul>Calling it one of the “worst expiry days” for Indian markets in the recent past, Jain from Angel Broking said “There was no respite for any of the indexes as all the sectors, including the recent outperformers took a sharp knock.” And, according to Vinod Nair, <a href="https://www.livemint.com/market/stock-market-news/sensex-slumps-nearly-2-500-points-in-6-days-key-reasons-for-this-selloff-11600931500520.html">Head of Research at Geojit Financial Services</a>, “The uncertainty regarding an economic recovery, the unabated rise in virus infections, and today being derivatives expiry day, all contributed to the negativity.” Analysts see further weakness in the market Sachin Jain, an analyst at ICICI Securities, said the year so far has been a tale of two halves with the first half in February and March witnessing a sharp unprecedented fall, while the second half since then witnessed a sharp recovery. “The correction in the range of 10-15%, particularly in mid-and small-caps, should not be construed as negative”. But Jain remained positive on the overall outlook of the market and recommended the buy on dips investment strategy. According to Jain at the moment, investors should avoid any aggressive contra trades, “as there are no positive signs and hence, we continue with our cautious approach on the markets. There could be some pullback from here as we have approached the ‘200 DMA’ which coincides with some important retracement levels as well. However, markets are likely to face selling pressure on pullback moves.” The Axis Direct daily <a href="https://simplehai.axisdirect.in/research/reports/fundamental">market note </a>also highlighted “Nifty is trading below 20 and 50 days SMA, which indicates negative bias in the short term. The daily strength indicator RSI has turned negative from the overbought territory and is below its reference line indicating sustained downtrend.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-in-india-mazagon-dock-shipbuilders-uti-amc-and-likhitha-infrastructure/articleshow/78293918.cms" data-type="tilCustomLink">Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-and-sbi-customers-are-facing-upi-payment-glitches/articleshow/78293815.cms" data-type="tilCustomLink">HDFC Bank and SBI customers are facing UPI payment glitches</a>

Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off

<ul class="summary-list"><li>The Magnificent Seven tech stocks are looking a lot like the Nifty Fifty bubble in the 1970s, David Rosenberg said.</li><li>Tech firms today make money unlike those in the dot-com bubble — but so did the companies in the Nifty Fifty, and that group ended up crashing, he argues.</li></ul>As AI hype seeps through the market and the Magnificent Seven stocks soar, investors are biting their nails about what happens next.Many have sounded the alarm of a <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-90s-dotcom-crash-tech-bubble-nvidia-yardeni-2024-1">1999 redux</a>. They say AI hype is like the internet, and companies are too overvalued. But for everyone sounding the alarm about a dotcom 2.0, there's an easy comeback: <a href="https://markets.businessinsider.com/news/stocks/tech-stocks-ai-bubble-dotcom-crash-magnificent-7-nvidia-microsoft-2024-2">tech stocks don't look like they did in 1999.</a> This time around, they actually make money.But there has been a bubble of profitable companies that has burst before: the Nifty Fifty stocks in the 1960s and 1970s. After a period of outperformance during which they were seen as unassailable, those stocks eventually tumbled 60% between 1973 and 1975, Rosenberg notes."This infamous group of 50 companies were considered strategic 'buy and hold forever' picks before their crash in 1973 and ensuing abysmal performance," he wrote in a note on Wednesday. "These were real companies with real investment themes behind them, but investor sentiment turned to euphoria and fueled prices and valuations into bubble territory beyond what the fundamentals justified."To be sure, not all Nifty Fifty companies ended up failing. The group included such firms as Coca-Cola, Proctor and Gamble, and McDonald's.But it's not great that markets are so concentrated right now, Rosenberg said. Even though the fact that the pantheon of seven tech stocks contribute to a big chunk of S&amp;P 500's gains — 45% in January alone — people are pouring money into them anyway. And the euphoria is giving him major flashbacks."What is happening with the Magnificent 7 is the same as what happened with the Nifty Fifty — investors prone to hype will over-extrapolate, lose their discipline and resolve, and give in to the temptation to join the herd," Rosenberg wrote.

Forgot dot-com comparisons: The Magnificent 7 look like the Nifty 50 bubble that burst in the 1970s and sent the group tumbling 60%, famed economist says

TCS, Infosys, L&T triplets tank on US troubles — wiping $10 billion off tech wealth

<ul><li>The 30-share BSE index Sensex was down 261.92 points, and the NSE Nifty was trading 0.75% lower at 10:10 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex and Nifty opened on a tepid note on Wednesday, tracking losses in index-heavyweights like HDFC Bank, ICICI Bank, and ITC amid weak cues from global markets. The 30-share BSE index Sensex was down 261.92 points, and the NSE Nifty was trading 0.75% lower at 10:10 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Serv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IOC </td></tr></tbody></table>*as of October 14, 10:00 am These are the top stocks in news today. Future Enterprises crash 5% Kishore Biyani led Future Enterprises shares crashed 5% during the early trading hours on Wednesday. The company informed investors that it defaulted on a payment of the interest on Non-Convertible Debentures worth ₹15.14 crore. The due date for fulfilling the interest was October 12. This also moved other Future Group stocks — Future Retail and Future Lifestyle Fashion and Future Consumer were down 3%. Wipro down 6% The shares of IT major Wipro were down 6% after it reported a 3.40% year-on-year (YoY) decline in consolidated net profit at ₹2,465.70 crore for the quarter ended September 30. The company also approved buyback of shares worth ₹9,500 crore at a floor price of ₹400 per equity share. Brokerages tread caution as they see a limited upside in the stock. SBI Cards shares climb 3% after festive season offer The shares of SBI Cards and Payment Services jumped over 3% after the company unveiled over 1,000 new offers spread across the country ahead of the festive season. The offers will be available for SBI cardholders till November 1. Karnataka Bank up over 3% The shares of India's twelfth largest private sector bank, Karnataka Bank were trading 3% higher after it reported 12.78% growth in its net profit to ₹119.44 crore for the quarter ended September 30. NTPC down 3% The shares of government-owned National Thermal Power Corporation (NTPC) were trading 3% lower after it announced plans to raise ₹4,000 crore via the issue of Non-Convertible Debentures. Adani Green gains 3% The shares of Adani Green were up 3% after the Competition Commission of India (CCI) approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-wipro-infosys-future-retail-airtel-irctc-srf-and-others/articleshow/78651966.cms" data-type="tilCustomLink">Top stocks to watch — Wipro, Infosys, Future Retail, Airtel, IRCTC, SRF, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms" data-type="tilCustomLink">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/science/news/a-spacecraft-flying-by-venus-on-wednesday-night-could-confirm-recently-found-signs-of-alien-life/articleshow/78646790.cms" data-type="tilCustomLink">A spacecraft flying by Venus on Wednesday night could confirm recently found signs of alien life</a>

Top stock movers — Wipro, Future Retail, SBI Cards, NTPC, Adani Green and others

Apple <a href="http://www.businessinsider.com/ios-9-release-date-download-2015-9">just dropped iOS 9</a>, the newest version of its iPhone operating system. What will happen if you upgrade?Well, you'll get a lot of nifty new features, but you might also experience more app crashes - at least if last year's iOS 8 release is any guide. According to data from app monitoring service <a href="http://www.crittercism.com/">Crittercism</a>, compiled here by <a href="http://www.statista.com/">Statista</a>, app crashes spiked on every iPhone after the release of iOS 8 last September. Those crash rates dropped back to previous range as app makers adjusted to the new release. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Crittercism via Statista</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-ios-9-new-features-2015-6">The 12 best new features coming to the iPhone</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5maTJrdTpgHbMWUI2q_PxsufXl1FPqkr" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Last time Apple released a new version of iOS, it made apps crash more often (for a while)

Mumbai, Mar 9 () In their biggest ever single-day drop in absolute terms, the BSE Sensex crashed over 1,941 points and the NSE Nifty tumbled 538 points as no let-up in coronavirus spread and massive crude oil plunge fuelled global recession fears. Besides, both indices also marked their biggest intra-day fall of all-time. Benchmarks Sensex and Nifty slumped intra-day 2,467 points and 695 points, respectively. At the closing bell, the 30-share Sensex was down 1,941.67 points or 5.17 per cent at 35,634.95 -- the lowest level in about 13 months. The broader Nifty settled at 10,451.45, dropping 538 points or 4.90 per cent. The carnage in the equity market wiped out investor wealth worth Rs 6,84,277.65 crore, pulling the total m-cap of BSE-listed firms to Rs 1,37,46,946.76 crore on Monday. On the Sensex chart, ONGC was the top loser, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto. Heavyweight Reliance Industries shed over 12 per cent. Shares of SBI plunged over 6 per cent after it said it will pick up a 49 per cent stake in Yes Bank for Rs 2,450 crore. Crisis-hit Yes Bank, on the other hand, rallied over 31 per cent. All sectoral indices ended in the red succumbing to growing fears about global recession among investors. BSE energy plunged 9.74 per cent, followed by metal, IT, oil and gas, teck, bankex and finance indices. In the broader market, midcap and smallcap indices fell up to 4.73 per cent. Since February 1 -- the day when the FY 2020-21 Budget was presented, the Sensex has lost 5,088.54 points or 12.49 per cent, while the Nifty has shed 1,510.65 points or 12.62 per cent. Last year's annual spike in the Sensex was around 14 per cent, and the Nifty had surged about 12 per cent. "Domestic markets post biggest ever one-day fall in absolute terms. Selling intensified across domestic markets following a slide in global peers as fears intensified over the spread of coronavirus outbreak and oil prices plunge...," said Paras Bothra, President of Equity Research, Ashika Stock Broking. In percentage terms, benchmark indices saw their biggest single-session fall in almost five years, he said. Rattling global market sentiments, crude oil prices tanked over 30 per cent following Saudi Arabia's decision to cut prices and raise production after the talks with OPEC+ countries fell out, marking the biggest price crash since the first Gulf War. Meanwhile, the number of coronavirus cases in India rose to 43 on Monday with four people, including a three-year-old child in Kerala who had returned from Italy, testing positive for the disease, Health Ministry officials said on Monday. Globally, markets remained in sell-off mode amid concerns over the adverse impact of rapid spread of coronavirus on the world economy. Bourses in Shanghai, Hong Kong, Seoul and Tokyo sank up to 5 per cent. European benchmarks also plunged up to 6 per cent in their early deals. On the currency front, the Indian rupee weakened by another 27 paise to 74.14 per US dollar. "Indian markets are facing a deluge of negative triggers. Global markets are plunging after the break of an alliance between OPEC and Russia resulted in the worst one-day crash in crude prices (more than 30%) in nearly 30 years, fuelling panic triggered by the escalation of the coronavirus epidemic," Deepak Jasani, Head Retail Research, HDFC Securities, said. The Indian stock market will remain shut on Tuesday on account of 'Holi'. ANS MKJ

Market mayhem: Sensex, Nifty log steepest ever one-day fall on recession fears

<ul><li>The 30-share BSE index was trading 559.76 points higher, while the broader NSE Nifty regained the 12,000 mark at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Strong start on Dalal Street on Thursday, with Indian benchmark indices tracking gains in index-heavyweights Reliance Industries, Infosys, SBI, amid positive cues from global markets. The 30-share BSE index was trading 559.76 points higher, and the broader NSE Nifty climbed 1.37%, regaining the 12,000 mark at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Motocorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>*as of November 5, 9:50 am State Bank of India shares leap over 6% The shares of State Bank of India gained over 6% for the second day in a row after the bank reported a <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms">51.88% surge in its standalone net profit </a>for the quarter ended September 30. The net interest income (NII) was up 14.56% to ₹28,181 crore in the quarter under review. <keyword id="38797" type="COMPANY" weightage="20" keywordseo="pidilite">Pidilite</keyword> Industries shares gained over 2% The shares of Fevicol maker, Pidilite Industries, gained over 2% after it reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> and <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">INOX Leisure</keyword> share gains over 2% The shares of PVR and Inox Leisure gained over 2% after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones, with 50% of their seating capacity from today. JK Lakshmi Cement trades 3% higher The shares of JK Lakshmi Cement were trading 3% higher on Thursday after the company reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. <keyword id="6471024" type="COMPANY" weightage="20" keywordseo="basf">BASF</keyword> shares soar 12% The shares of chemical manufacturer BASF soared 12% after it registered <a href="https://www.business-standard.com/article/news-cm/basf-india-standalone-net-profit-rises-17614-66-in-the-september-2020-quarter-120110401129_1.html">17615% </a>growth in its standalone net profit to ₹410.98 crore for the quarter ended September 30. The company had reported a net profit of ₹2.32 crore during the same quarter last year. <keyword id="10224242" type="UNKNOWN" weightage="20" keywordseo="happiest-minds-tech">Happiest Minds Tech</keyword> shares crash over 6% The shares of Happiest Minds Tech crashed over 6% during the trade today after its net profit was down 32% quarter-on-quarter to ₹34.08 crore. Although it registered a growth of 28% y-o-y, the sequential drop left the investors in a worry. <keyword id="151144" type="COMPANY" weightage="20" keywordseo="SRF">SRF</keyword> shares gain 6% The shares of chemicals maker SRF gained over 6% after its consolidated net profit rose 57% to ₹316 crore for the quarter ended September 30. The consolidated revenue of the company increased by 21% to ₹2,101 crore. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/2020-election-see-insiders-comprehensive-guide-to-the-presidential-and-top-congressional-races/articleshow/78878848.cms" data-type="tilCustomLink"> LIVE RESULTS: Biden inches towards 270 electoral votes win with results still outstanding in 4 key states</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-pvr-inox-leisure-sbi-cards-hpcl-pidilite-industries-adani-power-berger-paints-and-others/articleshow/79053310.cms" data-type="tilCustomLink">Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others</a>

Top stock movers — SBI, HCL Tech, SRF, BASF, Happiest Minds Tech, Pidilite, PVR, INOX Leisure, and others

New Delhi, Mar 13 () Airline stocks plunged into deep red on Friday due to the ongoing travel restrictions in the wake of coronavirus outbreak.Shares of IndiGo and SpiceJet were trading with heavy losses. InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875.SpiceJet dropped nearly 10 per cent to Rs 44.70.Hundreds of cancelled flights, decline in daily ticket bookings, fall in footfalls at airport shops and spike in expenses continue to rattle the country's aviation space as airlines, with weakened financials, and airport operators grapple with coronavirus headwinds.More than 490 flights operated by foreign carriers to and from India have been cancelled for varying periods of time while the count of weekly flights cancelled by domestic airlines is more than 90, as per official data.In the broader market, the benchmark indices Sensex and Nifty staged a unprecedented recovery after witnessing their worst-ever intraday crash in early session.In the afternoon session, the Sensex was trading higher by 937 points or 2.86 per cent at 33,715.14, while the NSE Nifty was up 306.20 points or 3.19 per cent at 9,896.35.The Sensex plummeted over 3,200 points and the broader Nifty sank by nearly 1,900 points, hitting their lower circuit limits, in opening session on Friday as coronavirus pandemic-led recession fears fuelled worldwide panic. RUJMKJ

Airline shares tumble up to 14 pc; IndiGo hits 52-week low

Mumbai, Mar 9 () The rupee on Monday slipped past the 74-level against the US dollar to settle at 74.14 (provisional), down 27 paise tracking heavy selling in domestic equity market amid rising concerns over coronavirus-led economic slowdown.Forex traders said the rupee depreciated versus major trading currencies as a collapse in oil prices added to risk off sentiment caused by relentless spread of coronavirus across the globe.At the interbank foreign exchange market, the local currency opened at 73.99. During the day, it saw a high of 73.85 and a low of 74.17.The Indian currency finally settled at 74.14, lower by 27 paise against its previous close.The domestic unit had settled at 73.87 against the American currency on Friday."The sharp underperformance of INR was a reminder that there are no real safe havens in high-yielding emerging market forex. INR seems to have over-reacted to confirmation of COVID-19 infections while news of the RBI being forced to rescue a big private sector bank did not help," said Rajesh Cheruvu, Chief Investment Officer, Validus Wealth.In their biggest ever single-day drop in absolute terms, the BSE Sensex crashed over 1,941 points and the NSE Nifty tumbled 538 points as no let-up in coronavirus spread and a massive crude oil plunge fuelled global recession fears.Besides, both indices also marked their biggest intra-day fall of all-time.Benchmarks Sensex and Nifty slumped intra-day 2,467 points and 695 points, respectively.At the closing bell, the 30-share Sensex was down 1,941.67 points or 5.17 per cent at 35,634.95 -- the lowest level in about 13 months.The broader Nifty settled at 10,451.45, dropping 538 points or 4.90 per cent.Meanwhile, crude oil prices were in a free fall, plunging nearly 30 per cent to USD 32.11 per barrel after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets.Brent crude futures, the global oil benchmark, was trading 21.23 per cent down at USD 35.66 per barrel."Oil markets crashed more than 30 per cent after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences," said VK Sharma, Head PCG &amp; Capital Markets Strategy, HDFC Securities. DRRBAL

You Searched For "Nifty crash" and got 10 results

Elections, rising global COVID cases, and F&O expiry keep markets jittery — but experts believe ‘correction has not begun yet’

Navdeep Yadav

Sensex down 7% this week, sees the second-worst fall this year— these are the reasons behind the sell-off

Navdeep Yadav

Forgot dot-com comparisons: The Magnificent 7 look like the Nifty 50 bubble that burst in the 1970s and sent the group tumbling 60%, famed economist says

Aruni Soni

TCS, Infosys, L&T triplets tank on US troubles — wiping $10 billion off tech wealth

Rounak Jain

Top stock movers — Wipro, Future Retail, SBI Cards, NTPC, Adani Green and others

Navdeep Yadav

Last time Apple released a new version of iOS, it made apps crash more often (for a while)

Matt Rosoff

Market mayhem: Sensex, Nifty log steepest ever one-day fall on recession fears

PTI

Top stock movers — SBI, HCL Tech, SRF, BASF, Happiest Minds Tech, Pidilite, PVR, INOX Leisure, and others

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Airline shares tumble up to 14 pc; IndiGo hits 52-week low

PTI

Rupee slips past 74/USD on weak equities, coronavirus-led slowdown fears

PTI

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