Daily stock market news: Sensex closed at 58,490 points, corrected 524 points. Nifty closed at 17,396 points, corrected 188 points, and bank nifty closed at 37,145 points, corrected 666 points.
Daily Stock Market News : 20-09-2021
Top Gainers Of Today’s Stock Market
| COMPANY | PRICE | %GAIN |
|---|---|---|
| HUL | 2,800 | 2.87 |
| ITC | 233 | 1.12 |
| BAJAJ FINSERV | 17,018 | 1.06 |
| HCL TECH | 1,276 | 1.02 |
| BRITANNIA | 4,084 | 0.81 |
Top Losers Of Today’s Stock Market
| COMPANY | PRICE | %LOSS |
|---|---|---|
| TATA STEEL | 1,253 | 9.58 |
| JSW STEEL | 633 | 7.20 |
| HINDALCO | 444 | 6.06 |
| UPL | 705 | 4.95 |
| SBI | 437 | 3.67 |
Today there is huge volatility in Markets. Morning Nifty opened as a gap down, but later rallied more than 200 points and again corrected more than 250 points. From morning itself the global markets are negative, but still nifty rallied in the morning and then later corrected.
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Big Fall In Market
Evergrande is one of the largest real estate companies in China and contributes around 2% of the Chinese real estate market. The debt of the company is 300 billion dollars or 22.5 lakh crore rupees and the company is close to default. The company is also unable to deliver the properties booked by the public.
The market is shocked, as the company with a debt of rupees 22 lakh crore, is close to default. As the debt is huge, this will have an impact on the economy of China.
China is one of the largest economies in the world. So, the impact will have on other country economies as well.
Tata Elxsi
Tata Elxsi MD & CEO Manoj Raghavan made positive comments on the company’s growth opportunities. He said that the demand scenario is positive, expects the order book to triple in the electric vehicle segment, strong demand environment could last for 2-3 years, doing a lot of work with OEMs & battery makers in Ev space and all three sectors are growing well.
For the past year, Tata Elxsi is rallied from rupees 500 To 1,800. But still, Tata Elsxi has a lot of potentials, because the Company Is mainly working on electric vehicle segments and the EV segment is just at the starting stage. So, in the future, there is a lot of opportunities and potential for the company.
As the MD & CEO made positive comments on the growth prospects of the company, the stock rallied 7%.
NDTV
Economic times released an article stating that the Adani Group may acquire NDTV. Previously Adani group updated that, they have hired a senior journalist Sanjay Pugalia. This created speculation in the market and NDTV closed in 10% upper circuit.
Tourism
As the Covid cases are in control, the government may allow foreign tourists for the first time in one-and-a-half years, and recently finance minister Nirmala Sitharaman announced that the first 5 lakh foreign tourists will be issued visas free of cost, in an attempt to revive the tourism, hospitality and aviation sectors. An official announcement may come within the next 10 days.
By this update Indian Hotels rallied 7.88%, Taj GVK Hotels rallied 5.54%, EIH rallied 3% And Chalet Hotels rallied 2.28%.
Lupin
In an exchange filing, Lupin updated that UDFDA has raised 7 observations from the recently conducted inspection in the Goa plant. The Company said they will resolve these observations as soon as possible. But the company didn’t release the details of the observations. so, by this negative update, the stock corrected 2.10%.
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