IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti. On the other hand, Bharti Airtel, Hero MotoCorp and Nestle India were the gainers. NSE Nifty plummeted 280.40 points, or 3.03 per cent, to 8,981.45.
The BSE's arm Asia Index has announced Wipro will replace Bajaj Auto in the 30-share Sensex. The move is part of a semi-annual rebalancing exercise and will take effect when the market opens for trading on December 20. On account of the rejig, Wipro will see buying by passive funds to the tune of Rs1,300 crore, while Bajaj Auto will see selling of Rs 636 crore, estimate analysts.
All Sensex components ended on a positive note with IndusInd Bank surging over 22 per cent, followed by Axis Bank, Mahindra and Mahindra, ICICI Bank, HUL, Maruti, HCL Tech and Hero MotoCorp.
The development comes a day after the Delhi Police's Intelligence Fusion and Strategic Operations unit which works under the supervision of Special Cell filed a first information report (FIR) against the unknown persons in the matter.
L&T was the top gainer in the Sensex pack, spurting over 6 per cent, followed by Hero MotoCorp, HDFC Bank, IndusInd Bank, Maruti, HDFC and HCL Tech. On the other hand, ITC, SBI and Bharti Airtel ended in the red.
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
India's tweaking of IT rules allow formation of Centre-appointed panels, that will settle often-ignored user grievances against content decision of social media companies, Minister of State for IT Rajeev Chandrasekhar said, adding that this was necessitated due to the "casual" and "tokenism" approach of digital platforms towards user complaints so far.
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Tata Steel was the top gainer in the Sensex pack, rallying 3.23 per cent, followed by SBI, Yes Bank, Hero MotoCorp, ICICI Bank and Bharti Airtel.
ONGC was the top loser in the Sensex pack, followed by HCL Tech, SBI, ICICI Bank, IndusInd Bank, Hero MotoCorp and M&M.
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Bajaj Finance was the top laggard in the Sensex pack, dropping over 9 per cent, followed by Axis Bank, IndusInd Bank, HDFC, ICICI Bank and M&M. Reliance Industries, however, capped the losses by rallying over 3 per cent. Sun Pharma, Hero MotoCorp, L&T, PowerGrid and Bajaj Auto were also among the gainers.
Top gainers in the Sensex pack included HCL Tech, Tata Motors, M&M, Bajaj Auto, RIL, Hero MotoCorp, Yes Bank, Maruti, HDFC Bank and Bajaj Finance, which surged up to 6.43 per cent.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Other losers included Maruti, HDFC, Hero MotoCorp, Sun Pharma, HUL, Kotak Bank, Coal India, RIL, TCS and Bharti Airtel, shedding up to 3.39 per cent.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
Bajaj Finance was the top laggard in the Sensex pack, slumping over 10 per cent, followed by M&M, Titan, Hero MotoCorp, ICICI Bank and Tech Mahindra. On the other hand, L&T, Bharti Airtel, IndusInd Bank, UltraTech Cements and NTPC were among the gainers.
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What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
Top gainers in the Sensex pack included Vedanta, Tata Steel, Yes Bank, Tech Mahindra, Hero MotoCorp, Bharti Airtel, SBI and Bajaj Finance and IndusInd Bank, which rose up to 4.83 per cent.
ICICI Bank was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Kotak Bank, HUL, HDFC, IndusInd Bank, HDFC Bank and Nestle India. On the other hand, Hero MotoCorp, Bajaj Auto, Maruti, TCS and HCL Tech were among the gainers.
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Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 per cent.
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Consumer stocks remain the biggest laggard on the bourses. The Nify50 weighting of FMCG stocks declined to a decade low of 9.9 per cent at the end of March this year, down 150 basis points from 11.4 per cent a year ago. At their peak in March 2013, major FMCG stocks, such as Hindustan Unilever, ITC, and Asian Paints, together accounted for 15 per cent of the Nifty50. But now together with automobile stocks, the consumer goods sector accounts for only 14.7 per cent of the index, down 200 basis points in the past 12 months and 37 per cent from the record high weighting of 23.4 per cent at the end of March 2014.
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Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16 per cent, followed by Maruti, Titan, Bajaj Finance, HDFC, Bajaj Auto and Hero MotoCorp. On the other hand, HUL, Tech Mahindra, IndusInd Bank and Nestle were the laggards.
IndusInd Bank, Infosys, Maruti, Vedanta, Hero MotoCorp, Tata Motors, ONGC and RIL too fell up to 4.96 per cent.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
Yes Bank was the biggest gainer in the Sensex pack, climbing 4.08 per cent, followed by Tata Motors, ICICI Bank, Bajaj Auto, Coal India, Hero MotoCorp, HCL Tech, Vedanta, Sun Pharma, Axis Bank, Maruti, ITC, IndusInd Bank, TCS, HUL and SBI, rising up to 2.67 per cent.
IndusInd Bank was the biggest gainer in the Sensex pack, rallying 4.84 per cent, followed by Sun Pharma, Bajaj Auto, Bharti Airtel, Coal India, Tata Motors, SBI, ICICI Bank, Hero MotoCorp, ONGC, HDFC, Vedanta, L&T, Kotak Bank, Maruti and Axis Bank, ending up to 2.92 per cent higher.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
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On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI -- falling as much as 6.19 per cent.
Indian two-wheeler majors Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge and, between the two, they are estimated to control about half of the local market there
