Nifty50: 17,532 ▼-86 (-0.4%)
Sensex: 58,765 ▼-360 (-0.6%)
The markets continued their losing streak today, ending in the red for the fourth consecutive day. Of the Nifty50 pack, 26 stocks declined.
Among the Nifty sectoral indices, Pharma (+0.8%) and Media (+0.7%) were the top gainers. Whereas, Realty (-1.5%) and Financial Services (-0.9%) were the top losers.
| Top gainers | Today's change |
| M&M | ▲ 2.9% |
| Coal India | ▲ 2.0% |
| IOC | ▲ 1.4% |
| Top losers | Today's change |
| Bajaj Finserv | ▼ 3.4% |
| Maruti Suzuki | ▼ 2.5% |
| Asian Paints | ▼ 1.9% |
For more updates on F&O, click here.
Here are the top stories of the day.
Maruti sees impact on October production
India’s biggest car maker, Maruti Suzuki has said it expects October production volume to be around 60% of normal levels due to the ongoing shortage of semiconductors.
This is an improvement over the 40% production level announced for September. Meanwhile, its September volumes numbers have declined 33% on a month-on-month basis. Today, shares of Maruti were down by 2.5% but have risen about 3% this week.
Paras Defence’s bumper debut
Paras Defence listed at a premium of 171% today, against the issue price of ₹175. The ₹171 crore IPO had received a strong response and was oversubscribed a massive 304 times.
Meanwhile, the IPO party continued on D-Street this week. Aditya Birla Sun Life AMC’s public issue was subscribed 5.2 times on the final day. The public issue received strong interest from qualified institutional buyers as well as retail investors.
Natural gas prices hiked
The government has increased the natural gas price by 62% to $2.9 per million British thermal unit. This price hike, which will be implemented from today, is expected to increase the cost of electricity and production cost of fertilizers.
This comes at a time when globally prices of natural gas have been increasing due to the spike in demand and supply crunch. Experts state that this price hike provides partial relief to Indian upstream producers as gas production remains a loss-making proposition for most fields. Meanwhile, shares of ONGC and GAIL were up 1.1% and 2.5%, respectively.
Closing bell
This week, the bears overpowered the bulls and the consequent fall in the markets was decisive. The Nifty50 index was down by 1.8% this week. The decline was largely led by the IT stocks. The Nifty IT index corrected by 6.2% this week. Meanwhile, the manufacturing PMI for September stood at 53.7, versus 52.3 previous month, indicating expansion of manufacturing activities. Next week, the RBI will announce its interest rate decision and the street would be keen to see any change in policy stance that could indicate a lift-off in the rates.
Good to know
What is a bond?
A bond is a fixed income instrument which a company or an institution issues to borrow money from investors. The borrower has to pay interest and return the principal amount to the investors within a specific period. The interest payment on these tradable assets could be fixed or variable based on the agreement between the lender and borrowers.
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