MARKETS: Sensex off lows, down 300 pts, Nifty atop 17,750; IRCTC falls 15%

MARKETS: Sensex off lows, down 300 pts, Nifty atop 17,750; IRCTC falls 15%

Opening Bell LIVE market updates: The benchmark indices extended Thursday’s decline on Friday as well with the frontline sliding 743 points at 59,241 levels, while the was at 17,676-mark, down 180 points. Only 2 constituents, Tata Steel and Asian Paints, were trading in the green on the Sensex, while Bajaj Finserv, NTPC, IndusInd Bank, and L&T fewere leading the list of losers.

In the broader markets, the BSE MidCap and SmallCap declined 1.5 per cent and 1.8 per cent, respectively.

Dalal Street is witnessing an across-the-board sell off with banks being the worst lot. The Nifty PSU Bank index is down 2.6 per cent while the Nifty Bank index is trading over 2 per cent lower. All other key sectoral indices were down up to 1 per cent.

Among individual stocks, shares of dropped 10 per cent after the Railway Minister asked the company to share 50 per cent of the convenience fee on train tickets with the ministry.

========================================================== Pre-open session LIVE market updates: Pre-open session is indicating yet another weak session for Dalal Street. The BSE Sensex was down 132 points at 59,852 while the was at 17,833, down 24 points. ========================================================== LIVE market updates: A day after the severe near 1,200-point drubbing for the BSE Sensex, market participants would eye if the indices will correct further or is there more pain ahead. At 08:10 AM, the was up 16 points at 17,896 levels, indicating a flat to positive starton Dalal Street. The Sensex tanked 1,158 points in trade on Thursday to end below the 60,000-mark, at 59,885 in a broad-based sell off, partly attributed to ratings downgrade by Morgan Stanley.

Earnings Today

Adani Power, Adani Transmission, Apollo Tyres, Bandhan Bank, Blue Dart, Dr. Reddy’s, Eqiutas Bank, Escorts, Exide, Gail, Nazara Technologies, Oberoi Realty, REC, SAIL, Vedanta and Voltas are some of the prominent companies scheduled to announce September quarter results today

Primary Market action

Nykaa IPO was subscribed 1.6X at the end of Day 1, with strong demand by retail investors.

Retail quota was subscribed 3.5X.

Fino Payments Bank IPO opens for subscription today in the price band of Rs 560-577 per share.

Global cues

The US ended at record highs on the back of robust earnings. The futures, however, were down this morning ahead of key GDP data. On Thursday, the Dow Jones advanced 0.7 per cent. The S&P 500 index gained a per cent, while the Nasdaq jumped 1.4 per cent.

This morning in Asia, Nikkei was down 0.8 per cent. The S&P/ASX 200 and Kospi were also down 0.4 per cent each. Straits Times, however, was up 0.2 per cent.

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