Market Live Updates: Sensex and Nifty slip in opening deals amid global weakness; metals, auto stocks fall

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Share/Stock Live Updates: The frontline equity indices on the BSE and national Stock Exchange (NSE) opened sharply lower on Monday following weakness in the global market.

The S&P BSE Sensex tumbled 355.27 points to 58,660.62 in the opening deals, while the Nifty 50 slumpped 108.50 points to 17,476.65.

Among sectors, the Nifty Metal index was the top loser in the early trade on Monday slipping over 3 per cent weighed by Tata Steel, NMDC and Vedanta. The Nifty Auto index too was trading over 1 per cent lower dragged by Eicher Motors and Hero MotoCorp.

(with inputs from agencies)

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

With the markets remaining buoyant, Foreign Portfolio Investors (FPIs) remained net buyers in domestic markets so far in September by investing a net sum of Rs 17,822 crore. FPIs invested Rs 11,287 crore into equities and Rs 5,018 crore in the debt segment on a net basis between September 1 and 17, according to data available from National Securities Depository Limited.

FPIs had pulled out Rs 11,308 crore in July and invested Rs 2,083 crore in August. FPIs have invested Rs 62,406 crore in 2021. Click here to read

Advent International, a global private equity investor, has signed a definitive agreement with Shapoorji Pallonji Group (SPG) to acquire a majority stake in Eureka Forbes Ltd. The transaction values Eureka Forbes at an enterprise value of Rs 4,400 crore, subject to closing adjustments.

As part of the scheme, Eureka Forbes Ltd, a 100 per cent subsidiary of Forbes & Company, will be demerged into a standalone company and then listed on the BSE. After the listing of EFL, US-based Advent will purchase up to 72.56 per cent of the company’s then outstanding stock on a fully diluted basis from SPG. Advent will thereafter make an open offer in compliance with applicable regulations. The transaction is subject to closing conditions and receipt of relevant statutory and regulatory approvals. Click here to read

Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.

Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.

Concerns about the health of China’s economy and Beijing’s crackdown on tech firms continues to haunt the region, with stocks in Hong Kong skidding more than 3% to their lowest in almost 11 months.

MSCI’s broadest index of Asia-Pacific shares outside Japan slid another 1.4%, after shedding 2.5% last week, with Australia down 1.5%.Japan’s Nikkei was shut, but futures were 400 points below the Friday cash close.

(Reuters)

Sensex tumbles 355.27 pts to 58,660.62 in opening session; Nifty slumps 108.50 pts to 17,476.65.

(PTI)

On Friday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had erased all of their day’s gains after lifetime highs and ended marginally lower amid profit booking.

The S&P BSE Sensex slipped 125.27 points (0.21 per cent) to end at 59,015.89 while the Nifty 50 settled at 17,585.15, down 44.35 points (0.25 per cent). Earlier in the intraday trade, the Sensex had touched a record high of 59,737.32, while the Nifty has scaled 17,792.95.

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