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Market benchmark <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword> <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> rallied over 269 points to hit its intra-day peak of 40,434.83 in early trade on Monday led by gains in ICICI Bank, RIL, ITC, TCS and HDFC Bank amid positive global cues and unabated foreign fund inflow. Similarly, the broader NSE <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> advanced 75.85 points to 11,966.45, inching closed to the 12,000 mark. Top gainers in the Sensex pack included Vedanta, Tata Steel, ICICI Bank, Tata Motors, SBI, HCL Tech, Sun Pharma and Bharti Airtel, rising up to 3.20 per cent. On the other hand, Yes Bank, Infosys, Hero MotoCorp, Bajaj Auto and HUL fell up to 4.80 per cent. In the previous session, the 30-share Sensex settled 35.98 points, or 0.09 per cent, higher at 40,165.03. The Nifty advanced 13.15 points, or 0.11 per cent, to close at 11,890.60. Foreign institutional investors (FIIs) purchased a Rs 533.37 crore in the capital market, on Friday, while domestic institutional investors sold shares worth Rs 136.50 crore, data available with stock exchange showed. According to experts, better liquidity from FIIs and mutual funds will maintain a positive sentiment in the market given de-escalation in geopolitical risks and focus on upcoming reforms to revive growth. Globally, bourses in Shanghai, Hong Kong and Seoul were trading higher on optimism over the US-China trade deal after China's commerce ministry on Saturday announced that top Chinese and US trade negotiators "reached consensus on principles". Indices in Tokyo, however, were in the red. Shares on Wall Street too ended higher after data showing the US economy continued to add jobs at a steady clip despite turbulence from the trade war with China. On the currency front, the rupee appreciated 16 paise against the US dollar to trade at 70.65 in early session. Brent futures, the global oil benchmark, fell 0.53 per cent to USD 61.36 per barrel.

Tech and bank stocks drive Sensex to dizzy intra-day high of 40,435, Nifty close to 12,000 mark

<ul><li>The global market sell-off, triggered by <keyword id="1609796" type="General" weightage="20" keywordseo="omicron" source="Orion">Omicron</keyword> concerns, has seeped over into the Indian markets as well.</li><li><keyword id="6484188" type="General" weightage="20" keywordseo="Sensex" source="Orion">Sensex</keyword> declined by over 1,000 points, with markets reeling across sectors like banking, auto, metals and oil.</li><li>SBI, Tata Steel, HDFC twins were amongst the biggest losers.</li></ul>Indian indices slipped in the first hour of opening today, beginning the week with a steep fall. The BSE Sensex shed over 1,000 points, while <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword> 50 fell by over 300 points. <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, which is usually an indicator of the market trends, was down by 75 points earlier in the morning. The fall in Indian markets is in line with the other Asian markets like Japan, Hong Kong, China and Taiwan, which were down by up to 2%. Concerns around rising cases of the Omicron variant of Covid-19 and tighter restrictions in European countries threatening to drag the pandemic into the new year was a major trigger for the negative market sentiments. The Netherlands went into a complete nationwide lockdown and media <a href="https://www.reuters.com/world/threat-omicron-looms-over-christmas-holidays-europe-us-2021-12-19/">reports</a> suggest that there is a possibility that this could spill over through Christmas and New Year. White House medical advisor Dr. Anthony Fauci urged people to get booster shots. While Germany’s health minister ruled out the possibility of a Christmas lockdown, he warned that a fifth Covid-19 wave could no longer be stopped. The steep market fall in today’s morning trade was felt across sectors, with banking, metals, auto and FMCG registering amongst the top losers. Here are the top 10 losers as of 10:00 a.m., on the benchmark Nifty50 index: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-14.8 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.85 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-253.4 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.67 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-38 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.36 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15.4 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.28 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15.1 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.23 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.3 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.08 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.03 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-53.35 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.97 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19.45 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.96 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42.65 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.9 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: <keyword id="6354646" type="General" weightage="20" keywordseo="nse" source="Orion">NSE</keyword>, as of 10:00 a.m. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/shares-of-shriram-properties-disappoints-ipo-investors/articleshow/88383115.cms">Shriram Properties lists 20% below IPO price amid a market-wide meltdown</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-wipro-bajaj-auto-and-other-hot-stocks-to-watch-out-for-on-december-20/slidelist/88381615.cms">Future Retail, Wipro, Bajaj Auto and other hot stocks to watch out for on December 20</a>

SBI, Tata Steel, HDFC twins are among the worst hit as Sensex sheds over a 1,000 points mirroring a global sell-off

<ul><li> The 30-share BSE barometer was trading 1,127.57 points or 4.09 % higher at 28,718.52. </li><li>The NSE Nifty soared 347.95 points, or 4.30%, to 8,431.75. </li><li>US stocks surged with all three major averages closing up more than 7%, after a setback in the previous week amid the COVID-19 pandemic. </li></ul>Equity <keyword id="6355376" type="DEFINITION" weightage="20" keywordseo="Benchmark">benchmark</keyword> Sensex rallied over 1,300 points in early trade on Tuesday led gains in bank, IT and auto stocks amid recovery in global equities. After hitting a high of 28,963.25, the 30-share BSE barometer was trading 1,127.57 points or 4.09 % higher at 28,718.52. Similarly, the NSE Nifty soared 347.95 points, or 4.30%, to 8,431.75. IndusInd Bank was the top gainer in the Sensex pack, surging up to 15%, followed by Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys. On the other hand, Bajaj Finance was the sole loser. In the previous session on Friday, the 30-share BSE barometer ended 674.36 points or 2.39% lower at 27,590.95 and the NSE Nifty shed 170 points, or 2.06%, to finish at 8,083.80. Foreign institutional investors (FIIs) were net sellers in the <keyword id="6357264" type="DEFINITION" weightage="20" keywordseo="capital-market">capital market</keyword>, as they offloaded equity shares worth Rs 1,960.97 crore, according to provisional exchange data. Market was closed on Monday on account of 'Mahavir Jayanti'. Despite concerns over rising <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> cases in the country, domestic equities took positive cues from global stocks and turned positive, traders said. Global Cues US stocks surged with all three major averages closing up more than 7%, after a setback in the previous week amid the COVID-19 pandemic. On Monday, the Dow Jones Industrial Average soared 1627.46 points, or 7.73%, to 22,679.99. The S&amp;P 500 increased 175.03 points, or 7.03%, to 2,663.68. The Nasdaq Composite Index jumped 540.15 points, or 7.33%, to 7,913.24. All 11 primary S&amp;P 500 sectors closed noticeably higher, with technology and utilities up 8.78% and 7.85%, respectively, outpacing the rest. The massive rally came despite US President Donald Trump saying Sunday that Americans are bracing for probably the toughest week ahead and a lot of deaths will occur due to COVID-19. "The US will reach a horrific point in terms of death," Trump said, while voicing his optimism that "it will be a point where things will start changing for the better." The number of COVID-19 cases in the United States topped 350,000 as of 3.30 p.m. local time Monday (1930 GMT), according to the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University. The fresh figure reached 352,546 with 10,389 deaths, according to the CSSE. US equities pulled back last week with data showing the coronavirus already hurting the economy. For the week ending April 3, the Dow lost 2.7 %, the S&amp;P 500 declined 2.1%, and the Nasdaq fell 1.7%. "In the near term, we believe market performance primarily depends on how quickly economic activity can normalize following measures to contain the virus; and the extent to which policy responses can limit bankruptcies and job losses," UBS Global Wealth Management's Chief Investment Officer Mark Haefele said in a research note on Monday. Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 2%. Brent crude futures, the global oil benchmark, rose 2.66% to USD 33.93 per barrel on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market. The number of COVID-19 cases in India has stood at over 4,400 and the death toll was above 100, according to health ministry log. Global tally of the infections has crossed 13 lakh, with over 74,000 deaths. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/india/news/world-bank-approves-1-billion-funding-for-india-200-million-for-pakistan-to-fight-coronavirus/articleshow/74957213.cms">World Bank approves $1 billion funding for India, $200 million for Pakistan to fight coronavirus</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Sensex and Nifty rally 4% after positive cues from global markets

<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’

Buoyed by the positive economic growth in the April-June quarter, stocks markets continued their upwards swing with <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> today crossing the 8,000-mark for the first time ever. The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword>, too, closed at a new lifetime high of 26,867.55. 
 The <keyword id="6354646" type="CITY" weightage="100" keywordseo="NSE">NSE</keyword> Nifty hit an all-time intra-day high of 8,035 and finally closed at 8,027.70, crossing its earlier high of 7,954.35. The BSE 30-share barometer Sensex soared by 229.44 points (0.86%) and ended at new all-time high of 26,867.55. Today, it reached a new high of 26,900.30, surpassing its previous intra-day record of 26,674.38. 
 
Sentiments have become bullish as foreign cash flow picked up following improvement in economic growth. 
 <keyword id="764382" type="UNKNOWN" weightage="80" keywordseo="HeroMoto">HeroMoto</keyword> gained the most today as its shares went up 5.79% to Rs 2,759.25.

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Tech and bank stocks drive Sensex to dizzy intra-day high of 40,435, Nifty close to 12,000 mark

PTI

SBI, Tata Steel, HDFC twins are among the worst hit as Sensex sheds over a 1,000 points mirroring a global sell-off

Rounak Jain

Sensex and Nifty rally 4% after positive cues from global markets

Navdeep Yadav

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

Navdeep Yadav

Nifty Ends Over 8k-mark For The First Time

BI India Bureau

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