MARKET LIVE: Sensex, Nifty volatile; broader indices underperform

 The Indian markets fluctuated between gains and losses after making a steady start on Tuesday.

The S&P BSE Sensex hovered around 38,000 levels. The index hit an intra-day high and low of 38,236 and 37,860, respectively. IndusInd Bank (down 4%) was the top Sensex laggard, followed by ONGC, Axis Bank, and ICICI Bank (all down 2%). On the other hand, TCS rose 2 per cent while Reliance Industries gained 1 per cent.

The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down 2 per cent.

In the broader market, the S&P BSE MidCap index was trading at 14,738.75, up 0.12 per cent while the S&P BSE SmallCap was trading at 14,860, down 0.02 per cent. 

CATCH ALL THE LIVE UPDATES

Auto Refresh

01:15 PM 

Strides Pharma hits a fresh 52-week high; stock gains 14% in one week

The stock of the pharmaceutical company has rallied 14 per cent in the past one week after its subsidiary, Strides Pharma Global Pte Ltd, received approval from the United States Food and Drug Administration (USFDA) for Butalbital, Acetaminophen, and Caffeine tablets, used to treat tension ((or muscle contraction) headache. READ MORE 

markets, stock market, sensex, nifty, shares, growth, profit, economy, gain

01:05 PM 

NEWS ALERT :: SBI Card ties up with American Express

>>  SBI Card and American Express have entered a strategic partnership to offer a mix of global benefits and exclusive privileges for discerning consumers in India. With this partnership, SBI Card`s top end premium products – SBI Card ELITE and SBI Card PRIME will be available on American Express’ global network.

via BSE filing

12:57 PM 

Chemcon Speciality Chemicals, CAMS IPO: Check allotment status here

The bumper response to the intial public offers (IPOs) of Chemcon Speciality Chemicals and Computer Age Mamagement Services (CAMS), has raised hopes for their stellar listing at the bourses, likely on October 1. The allotment of shares for these two IPOs has been finalised and investors may check the status either on the BSE website or on Link Intime India. CHECK HERE

12:47 PM 

SBI Cards: Analysts see more upside given distribution network, biz model

The stock of State Bank of India subsidiary has staged a steady northward journey since its listing on March 16, 2020. After a minor blip on May 22, when it touched its 52-week low of Rs 495 apiece, the stock is up an impressive 72 per cent including today’s intra-day gain, ACE Equity data show. In the past two months, the stock has rallied 15 per cent from on the BSE as against a 5 per cent rise in the benchmark S&P BSE Sensex. READ MORE

12:36 PM 

Apollo Hospitals up over 2%

12:26 PM 

Sebi, not EOW, should handle mutual fund issues: Franklin Templeton

Franklin Templeton Asset Management India (FTAMIL) has said the Securities and Exchange Board of India (Sebi) -- rather than the Economic Offences Wing (EOW) – should deal with issues related to mutual fund investments. “We have the utmost respect for all statutory authorities, including EOW. However, we believe that Sebi, the specialised regulator for the securities market, is best placed to handle any issues related to mutual fund investments,” Templeton said in a note to unitholders on Monday. READ MORE

Franklin Templeton MF

12:13 PM 

Top losers on BSE at this hour

COMPANY PRICE(RS) CHG(%)

VODAFONE IDEA 9.73 -5.90

ALOK INDUSTRIES 20.60 -4.63

BANK OF BARODA 41.70 -3.81

SYNGENE INTL. 566.25 -3.72

BHARTI INFRATEL 178.95 -3.69

» More on Top Losers

12:01 PM 

IndusInd Bank trades over 3.5% lower

11:49 AM 

37,300 level crucial for Sensex. A dip below this can trigger a correction

After gaining since the past few sessions, the markets witnessed choppy trade on Tuesday with the benchmark indices - the S&P BSE Sensex and the Nifty50 - failing to hold on to gains in intra-day deals. The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down 2 per cent. Experts said investors are hoping that the US lawmakers reach an agreement regarding a stimulus package. . Will the markets be able to hold on to higher levels going ahead or will they succumb to profit booking? READ MORE 

Markets roar back after Budget shock; Sensex zooms 917 pts, Nifty at 11,980

 

11:42 AM 

Hero MotoCorp gains 3%, hits over 2-year high on Co's demand forecast

Shares of Hero MotoCorp hit an over two-year high of Rs 3,196 on the BSE on Tuesday after rising 3.5 per cent on expectation of improving demand, going forward. The two-wheeler manufacturer's stock was trading at its highest level since December 27, 2018. In the past three months, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has outperformed the market by surging 27 per cent, against 9 per cent rise in the S&P BSE Sensex. READ MORE

Hero MotoCorp