Stock Market LIVE Updates: Sensex rebounds over 1,000 points from day's low, Nifty50 tops 17,500; Paytm surges 10%

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16:28:49 IST

Remain positive on India telecom story: Mehraboon J Irani 

Market expert Mehraboon J Irani remains positive on the country’s telecom story. “The question is whether you buy Bharti Airtel as a trading bet. The answer is: Certainly not. But if one has it in the portfolio, and one wants a proxy for the telecom sector, I think certainly one will continue to hold on to it. Will the stock be higher than where it is right now or the next one? Yes. They have taken care of the liquidity problem with the recent rights issue. The tariff hike also was a definitely a welcome move and should definitely help the company in as far as the incremental revenue to EBITDA goes. I think all said and done, it is a big positive for Airtel and we now need to need to see what Jio does,” he said.

16:17:20 IST

Sushil Kedia remains bullish on telecom stocks

Sushil Kedia, Founder of Kedianomics, continues to be bullish on telecom stocks. “They did not come down at all in this market correction. So we will continue to ride them with trailing stops,” he said. 

16:16:41 IST

Steel sector fundamentals rosy: Sushil Kedia 

Sushil Kedia, Founder of Kedianomics, believes the fundamentals for the steel sector are rosy. The Street is very bullish and an interim trading rally is there but for those who have the appetite to hold, a 10 percent further risk doesn’t make much difference, he said.

“It is a zone to buy. If you are betting for SAIL to go to Rs 180-200, it is already a good time to buy. However, for leveraged traders, steel may not be the best place right now to take big bets on,” he said. 

16:10:15 IST

Nifty has immediate support at 17,200, resistance at 17,600: Choice Broking’s Palak Kothari

The Nifty has immediate support at 17,200 and resistance comes in at 17,600 levels, said Palak Kothari, Research Associate at Choice Broking. Once the index takes out the hurdle, it can rise to 17,800-17,900 levels, he said. 

The Bank Nifty has support at 36,300 and resistance at 38,000, Kothari added.

15:55:40 IST

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Market At Close | Power Grid, JSW Steel, Coal India, NTPC top Nifty50 gainers

On the other hand, Asian Paints, IndusInd Bank, Infosys, Axis Bank and Titan, closing between 0.3 percent and 2.6 percent lower, were the worst hit among the 10 laggards in the 50-scrip index. 

A total of 21 stocks in the 30-member Sensex index closed in positive territory. 

15:52:42 IST

Sensex, Nifty close higher after 4 days of losses

15:42:36 IST

Closing Bell | Sensex rebounds 946 points from day’s low, snaps 4-day losing streak; Paytm shares jump 9%

Indian equity benchmarks made a comeback on Tuesday after four straight sessions of losses, helped by gains in financial, oil & gas and metal shares. The Sensex index ended 198.4 points or 0.3 percent higher at 58,664.3, rebounding 946 points from its intraday low of 57,718.3. The broader Nifty50 benchmark settled at 17,503.4, up 86.8 points or 0.5 percent from its previous close. In the past four sessions, the 30-scrip index had shed 2,252.8 points (3.7 percent) and the Nifty lost a total of 348.3 points (3.8 percent). (Read more on the closing bell)

15:34:35 IST

Positive on healthcare shares: Rohit Srivastava

Rohit Srivastava, Founder and Strategist at, believes that all sectors that have taken a beating in the recent past should start to participate again. “Healthcare has already paused and turned to the upside over the last few weeks. So that should also participate. Why look away from those which was strong during this period except that some of them could consolidate like power as a very good phase. But we do sense that there is space there for consolidation, but when it comes to the auto sector, it has been strong so could continue to be strong. So there is a mix of those but while we focused on the stronger ones for quite a while at the depth of this why not even focus on the ones which were strong on a one year basis but have actually seen a correction in the recent time period and which is where metals come in,” he said. 

15:15:17 IST

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CNBCV-TV18 Exclusive | Parle hiked prices by 10-15% in Q2, to hike by 10-20% in Q3, Q4 

Parle’s management said in an exclusive interaction with CNBC-TV18 that it would hike its prices by 10-20 percent in the third and fourth quarters of the current financial year, following a hike of 10-15 percent in the three months to September. The price of Parle biscuits is being hiked by 5-10 percent, it said. 

The FMCG major said the decision is on account of tremendous input cost pressure. 

The company has reduced the grammage for low-unit packs, maintaing the MRP at the existing level. 

15:03:36 IST

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TCNS Clothing, Raymond, Glenmark Pharma, Birlasoft, Triven Turbine top BSE 500 gainers

CESC, Vedanta, HFCL, Strides Shasu, Gateway Distripark, MRPL and Greaves Cotton were also among the top gainers in the BSE 500 universe. Around 400 stocks in the broadest index on the bourse were in positive territory. 

14:58:42 IST

Future Retail employees file ‘special leave’ plea in Supreme Court to intervene in Amazon dispute proceedings

The Future Retail Employee Welfare Association has filed a special leave petition in the Supreme Court seeking to intervene in the current proceedings of the company’s dispute with Amazon over its 2019 deal with Reliance Industries. The employees’ association has stated that the interests of nearly 27,000 employees of Future Retail have been affected by the orders passed in arbitral proceedings. They say the inordinate delay in the Future-Reliance Retail deal has caused apprehension in employees that the deal may not reach fruition. (Read more)

Network18, the parent company of, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

14:49:24 IST

Haven’t applied for an IPO since 1992, better picture emerges 6-12 months after listing: Rohit Srivastava

Rohit Srivastava, Founder and Strategist at, has not applied for an IPO since 1992. “The last time I did, I did one for the first and the last time, and there is a reason for that. When you are more of a market analyst who looks at multiple things, technicals, fundamentals and so on, one thing I have found is that after a stock gets listed, and you give it time, which is 6-12 months, you are able to take a much better picture of the situation,” he said. 

“By the time they are in the market, you really have to judge whether all the growth is priced in or not, which is a very tough job. So the easier thing is to let the market decide and sometimes, six months later, you are surprised that the stock is actually down, as we saw in the case of Just Dial, and you are seeing some of the reaction in Paytm. However, maybe one year down the line, it may look different,” he added.

14:32:41 IST

Paytm shares surge nearly 12%

Paytm parent One97 Communications’ shares traded 11.6 percent higher at Rs 1,517.9 apiece on BSE in late afternoon deals. At the current level, the stock quoted at a discount of 29.4 percent to its issue price after a series of losses following its weak debut. 

14:29:35 IST

Market correction: Long way to go before we get seriously worried, says Shankar Sharma

Market veteran Shankar Sharma told CNBC-TV18 that the market has to take a breather and there is still a long way to go before one should start to get seriously worried. According to him, this is nothing more than a small correction. “We have had a vertical rally in the last 18 odd months and where do we go from here? The short answer to that is that we still have a long way to go before we should start getting seriously worried,” he said.

14:27:18 IST

Buy Jindal Steel & Power, Reliance Industries: Manas Jaiswal

Here are two trading calls from Manas Jaiswal of

–Buy Jindal Steel and Power for a target of Rs 405 with a stop loss at Rs 374 

–Sell IndusInd Bank for a target of Rs 935 with a stop loss at Rs 1,000 

–Buy Reliance Industries for a target of Rs 2,550 with a stop loss at Rs 2,350 

Disclaimer: Network18, the parent company of, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

14:18:03 IST

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Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance top boosts for Sensex

On the other hand, stocks such as Infosys, Asian Paints, IndusInd Bank and Hindustan Unilever were the biggest drags for the 30-scrip index. 

Disclaimer: Network18, the parent company of, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

14:06:29 IST

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India to release 5 mbpd crude oil from emergency stocks: PTI

India will release five mbpd of crude oil from its emergency stocks to cool prices, news agency Press Trust of India reported. 

14:04:57 IST

Sensex rebounds over 1,000 points from day’s low, hits 58,750 

The 30-scrip index made a comeback in late afternoon deals, jumping as much as 1,060.6 points from its intraday low to touch 58,779 on the upside. The Nifty50 benchmark, which had dipped to as low as 17,216.1 in the first half of the session, climbed to as high as 17,535.7. Gains in oil & gas, metal and financial stocks led the bounceback in headline indices. Losses in IT shares limited the upside. 

13:47:10 IST

Re-evaluation of stake sale decision in O2C biz won’t impact credit quality: Moody’s on Reliance Industries

“The decision to re-evaluate the transfer and the stake sale will not impact RIL’s credit quality because the company already has a strong balance sheet to accommodate future investments required for its various businesses,” Moody’s Investor Service said.

Disclaimer: Network18, the parent company of, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

13:42:39 IST

Market Watch | Buy Bharti Airtel and JSW Steel but sell Berger Paints, says Religare Broking’s Mishra 

Here are trading calls from Ajit Mishra of Religare Broking:

Buy Bharti Airtel with a target of Rs 770 and a stop loss at Rs 740

Sell Berger Paints with a target of Rs 750 and a stop loss at Rs 780

Buy JSW Steel with a target of Rs 810-815

13:35:13 IST

TVS Motor Company shares rise 1%

13:25:25 IST

Equitas Small Finance Bank ties up with HDFC Bank to offer co-branded credit cards

Equitas Small Finance Bank announced its partnership with HDFC Bank for the launch of its new co-branded credit cards.

“The credit cards will be available for Equitas Small Finance Bank’s customers, with an aim to provide them with the facilities of the banking ecosystem,” the bank said in a release.

The partnership draws on HDFC Bank’s strengths as India’s leading issuer of credit cards and superior customer engagement to extend best-in-class services to Equitas Small Finance Bank’s customer base.

Equitas Small Finance Bank shares recover and were up 0.2 percent.

13:18:56 IST

© Provided by CNBCTV18 Spandana Sphoorty Financial | The company announced Shalabh Saxena as the MD and CEO. Among other business updates, Ashish Damani will take over as President and Chief Financial Officer, Abanti Mitra will take over as Chairperson of the Board, and Deepak Vaidya will continue as an Independent Director.

Vedanta shares gain 8% as promoters look to raise stake by up to 4.57% 13:09:23 IST

Greaves Cotton shares jump 6%

12:58:31 IST

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See demand in cryptocurrencies from HNIs, family offices: Ajay Srivastava 12:49:48 IST

Just In | Power Producers seek urgent intervention from Govt on clearing dues by Discoms, say sources

12:42:42 IST

Indus Towers stock down 0.2%

12:35:40 IST

Mobikwik may defer IPO plan on subdued investor interest

Indian payments firm MobiKwik may defer its initial public offer (IPO) planned for this month in light of subdued investor interest, sources informed CNBC-TV18. “The company is unable to get the $1 billion valuation it’s seeking,” sources said. 

CNBC-TV18 is awaiting a response from Mobikwik on the development.

12:26:21 IST

Rajan Sethuraman of Latent View says heavily focused on the tech side. We have seen acceleration from other accounts replacing 2019 top 10 clients now.

12:11:18 IST

Vodafone Idea hikes prepaid tariffs by 20-25% & top-up plan tariffs by 19-21% effective November 25

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