Share Market LIVE Updates: Tsunami in stock market! Sensex drops 980 points amid covid fears

The 30-share BSE Sensex fell 620.66 points to 60,205.56 in opening trade as selling pressure on the index persisted for the fourth day in a row. On the similar the larger NSE Nifty fell 158.55 points to 17,968.80.

New Delhi: Stock markets closed deep in the red on Friday with both equity benchmarks plummeting nearly 2 per cent on Friday in tandem with weak Asian market trends. Investors sentiment remained muted in view of the COVID-19 surge in some countries.

The 30-share BSE Sensex continued to remain under selling pressure for the fourth day running and slumped 980.93 points or 1.61 per cent to settle at 59,845.29. During the day, it tanked 1,060.66 points or 1.74 per cent to 59,765.56. On similar lines, the broader NSE Nifty dropped 320.55 points or 1.77 per cent to end at 17,806.80.

Tata Steel plunged nearly 5 per cent. Other major laggards were Tata Motors, State Bank of India, Bajaj Finserv, Reliance Industries, Wipro, IndusInd Bank, Larsen & Toubro and Maruti Suzuki. Titan was the sole gainer on the Sensex pack.

The year 2022 has been a significant one for India’s investment market, wherein we witnessed some remarkable milestones. A landmark occurrence was the total number of demat accounts in India crossing the 10-crore mark this year, clearly depicting the increasing awareness and interest in equity participation. A major driver of this trend can be attributed to the new age investing platforms with strong technology infrastructure have given investing access to users across the nation, Puneet Maheshwari, Director- Upstox said.

Here are the updates on stock market

23 December 2022

15:09 IST

Stock markets live updates: Sensex tumbles 980 points

Rupee falls by 7 paise to close at 82.86 (provisional) against US dollar. Sensex tumbles 980.93 points to end at 59,845.29; Nifty plunges 320.55 points to 17,806.80.

15:08 IST

Gold futures gain Rs 93 to Rs 54,614

Gold price increased by Rs 93 to Rs 54,614 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 93 or 0.17 per cent at Rs 54,614 per 10 grams in a business turnover of 14,041 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.54 per cent higher at USD 1,805 per ounce in New York.

15:07 IST

Vedanta declared as preferred bidder for Bicholim mineral block in Goa

Vedanta Ltd informed BSE that it has been declared as a preferred bidder for Bicholim mineral block in Goa. The iron ore mines has resources of 84.92 million tonnes.

15:06 IST

Airtel launches 5G services in Pune

Leading telecom company Bharti Airtel on Friday announced the launch of 5G services in Pune.Airtel 5G Plus services would be available to customers in a phased manner as the company continues to construct its network and complete the roll-out. The telecom company said customers with fifth-generation (5G)-enabled devices would enjoy high-speed Airtel 5G Plus network at no extra cost until the roll-out is more widespread.

13:12 IST

Google approaches NCLAT against CCI's order on Android

Google has approached the appellate tribunal NCLAT challenging the CCI's order on unfair business practices in Android mobile device ecosystem, the company spokesperson said on Friday. The Competition Commission in October slapped a steep penalty of Rs 1,337.76 crore on internet giant Google for abusing its dominant position in multiple markets in relation to Android mobile devices and ordered the internet major to cease and desist from various unfair business practices.

11:47 IST

PhonePe completes separation from Flipkart

Flipkart and PhonePe have completed their separation and both entities will continue to operate under US-based retail giant Walmart, a joint statement said on Friday. PhonePe was acquired by Flipkart Group in 2016. Walmart will remain the majority shareholder of both business groups.

11:45 IST

Brokerage Anand Rathi retains Buy rating for Arvind Fashions

We expect its ~Rs3.8bn net debt to shrink to ~Rs1.3bn by end-FY25. We are positive on the stock and see a further re-rating, driven by a better sustainable performance. We retain our Buy rating at a higher TP of Rs567, based on 12x FY25e EV/ EBITDA (previously Rs516, at 11x FY25e EV/EBITDA), Brokerage Anand Rathi said.

11:32 IST

Abans Holdings shares debut on flat note

 Shares of Abans Holdings, the financial services arm of the Abans Group, made a muted market debut on Friday, listing over 1 per cent higher on the NSE, against the issue price of Rs 270. The stock listed at par with the issue price of Rs 270 on the BSE. It later hit a high of Rs 272 and a low of Rs 218.65. At the NSE, the stock made its market debut at Rs 273, climbing marginally by 1.11 per cent.

09:58 IST

Rupee trades flat 

Rupee trades flat at 82.79 against US dollar in morning trade.

09:58 IST

Stock market update: Sensex, Nifty in red

Sensex tumbles 620.66 points to 60,205.56 in early trade. Nifty declines 158.55 points to 17,968.80.

08:44 IST

Will Droneacharya AI issue have a dream listing?

As per reports, the Droneacharya Aerial Innovations latest GMP suggests a premium of Rs 65, suggesting that the scrip will have a stellar debut on its stock market listing. At today's GMP Rs 65 + its issue price of Rs 54, it is expected that Droneacharya Aerial Innovations will list at Rs 119 (65+ 54) apiece levels, suggest market observers.

08:19 IST

Droneacharya AI IPO listing today

Droneacharya Aerial Innovations will make its stock market debut on Friday. The SME issue, with a price band of Rs Rs 52 to Rs 54 per share, will list on both BSE and NSE.

08:18 IST

Ajanta Pharma promoter entities sell 4.3% stake for Rs 637 crore

romoter entities of Ajanta Pharma on Thursday divested 4.3 per cent stake in the company for Rs 637 crore through open market transactions.
The buyers included over two dozen funds such as UTI Mutual Fund (MF), Aditya Birla Sun Life MF, Franklin Templeton MF, ICICI Prudential MF, Mirae Asset MF, Abu Dhabi Investment Authority and Tata AIA Life Insurance Company, among others. Aayush Agrawal Trust and Ravi Agrawal Trust offloaded a total of 54,92,846 shares, amounting to 4.3 per cent stake in Ajanta Pharma, as per block deal data with the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 1,160.1 per scrip, taking the transaction value to Rs 637.22 crore.

08:17 IST

LIC's shareholding in Info Edge crosses 5 percent-mark

Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday said its shareholding in online company Info Edge has crossed 5 per cent with an additional investment of over Rs 12 crore. Its shareholding in Info Edge (India) Ltd has increased from 64,43,921 to 64,69,921 equity shares, or from 4.988 per cent to 5.008 per cent of the paid-up capital of the company, LIC said in a regulatory filing. LIC said its holding in the company crossed 5 per cent on December 21, 2022. The acquisition of the additional shares were done at an average cost of Rs 4,790.76 apiece.

08:16 IST

RIL subsidiary acquires 23.3% stake in Exyn Technologies

Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited (RIL), on Thursday acquired 23.3 per cent stake in Exyn Technologies Inc (Exyn) for a total consideration of $25 million. In an intimation to the stock exchanges, RIL said RSBVL and Exyn have also entered into a Strategic Partnership Agreement for technology collaboration and commercialisation of Exyn`s technology. Exyn is an early stage technology company, incorporated in Delaware, in 2014 with headquarters in Philadelphia, Pennsylvania.

08:16 IST

NSE gets Sebi's in-principle nod to set-up social stock exchange as separate segment

Leading stock exchange NSE on Thursday said it has received in-principle approval from capital markets regulator Sebi to set-up a social stock exchange as a separate segment. The National Stock Exchange of India (NSE India) received an in-principle nod from the Securities Exchange Board of India (Sebi) on December 19, it said in a statement.

08:15 IST

PM Modi to take call on extending PMGKAY beyond December

Prime Minister Narendra Modi will take a call on extending the PMGKAY scheme to provide free ration to the poor beyond December, Union Minister Shobha Karandlaje said on Thursday said stressing that the government has sufficient foodgrains stock. If Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) has to be extended, the decision will be taken by the Cabinet, headed by the prime minister. The Cabinet meeting is scheduled on Friday. In September, the government had extended PMGKAY for three months till December 31.

08:12 IST

Taxonomy and clear definitions needed to prevent 'greenwashing': RBI deputy guv

Reserve Bank Deputy Governor M Rajeshwar Rao on Thursday called for a taxonomy on green finance to avoid the risk of "greenwashing".
Green financing refers to lending to environmentally sustainable economic activities.