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Markets at a Glance:
Following the sentiment of the global market over the resurgence of COVID-19 cases and uncertainty regarding economic recovery, Indian markets fall drastically in Thursday’s session. Nifty50 fell by 326.5 points breaking its 11000 support and settle at 10805.5. At the same time, Sensex plunged by 1114 points and closed at 36553.6. India VIX, which measures the fear in the market, jumped over 12.32% to 23.58.
Though all sectoral indices were trading in red, Nifty Metal, IT and Realty were the worst hit.
Top Gainers/Losers:
Bharti Infratel, Zee Entertainment Enterprises and Hindustan Uniliver were the only ones in Nifty who managed to close in green. While among the losers, IndusInd Bank, Tata Motors, Bajaj Finance, Grasim Industries and TCS fell the most.
DII/FII Data:
DIIs invested Rs.188.64 crore despite weak market conditions, while FIIs playing safe by drawing a net sum of Rs.1885.69 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII ** | 24-Sep-20 | 7,839.03 | 7,650.39 | 188.64 |
| FII/FPI * | 24-Sep-20 | 6,301.62 | 8,187.31 | -1,885.69 |
Primary markets can’t stop buzzing, three more IPOs lined up next week:
UTI Asset Management, Mazgaon Dock shipbuilders and Likhitha Infrastructure are coming with their Initial Public Offer (IPO) starting from 29th Sept.
While on last day of its offer, Angel Broking got subscribed by almost 4 times.
TCS plunges by more than 5% over SP-Tata Woes:
As Shapoorji Pallonji group has decided to separate from Tatas, former’s 18.6% stake in Tata Sons will likely be bought by Tata Sons itself. To buyout that stake, Tata Sons might dilute their holdings in TCS, their cash-generating cow.
Shares of TCS fell by 5.45% today over the uncertain outcome of SP group’s exit from Tata.
Vodafone-Idea Loses 4.8 million subscribers, while Jio adds 4.5 million in June month:
Vodafone-Idea registered a loss of 4.8 million mobile subscribers in June. While Bharti Airtel lost 1.1 million users, Reliance Jio was the only telecom operator to have added 4.5 million customers.
Jio now has 34.8% wireless market share, while Airtel and Vodafone’s subscriber base stood at 27.8% and 26.8%, respectively, according to TRAI data.
ONGC shares drop by 2.5% due to fire in Surat plant:
Shares of Oil & Natural Gas Corporation Limited (ONGC) closed by 2.5% lower today after a massive fire broke out at the company’s gas processing plant at Hazira near Surat early Thursday. No casualties/injuries have been reported.
GAIL has cut the gas supplies by almost 40% after the fire at ONGC plant.