Stock Market Live: Sensex opens 100 points lower, Nifty below 15,100; banks, financials drag: SEBI fines Ex NSE MDs

Fuel prices at a record high

Stock Market Live: Indian indices opened lower on Thursday dragged by losses in banking and financial stocks. Heavyweights HDFC, ICICI Bank, Kotak Bank and HDFC Bank contributed the most to the losses.

Opening Bell: Sensex opens 100 points lower, Nifty below 15,100; banks, financials drag

Indian indices opened lower on Thursday dragged by losses in banking and financial stocks. Heavyweights HDFC, ICICI Bank, Kotak Bank and HDFC Bank contributed the most to the losses. At 9:18 am, the Sensex was down 103 points lower at 51,206 while the Nifty fell 27 points to 15,079. Broader markets were mixed

with the midcap index flat and smallcap index up 0.8 percent.

Twitter has thought about holding bitcoin, not decided yet

Twitter Inc has thought about whether to hold bitcoin on its balance sheet, but has not made any changes yet, the social media platform’s chief financial officer, Ned Segal, told CNBC on Wednesday. In an interview with CNBC, Segal said Twitter had considered how it might pay vendors or employees using bitcoin, should they ask to transact using the virtual currency. ”We might consider whether we would be transferring dollars to bitcoin at the time of the transaction or if we wanted bitcoin on our balance sheet ready to complete that transaction,” Segal said. Segal’s comments come to a couple of days after billionaire entrepreneur Elon Musk’s Tesla Inc revealed the automaker had bought USD 1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher.

Nureca’s Rs 100-crore IPO to open on Feb 15; price band set at Rs 396-400 per share

Nureca Limited’s Rs 100-crore initial public offering (IPO) will open for subscription on February 15, 2021. The public offer will close on February 17 and a price band of Rs 396-400 per share has been fixed by the company. The proceeds of the issue will be used for funding the company’s incremental working capital requirements and for general corporate purposes, the company said in a statement. Investors can bid for a minimum of one lot of 35 equity shares and in multiples thereafter, up to 14 lots. A total of up to 75 percent of the issue will be reserved for qualified institutional buyers (QIB), up to 10 percent for retail investors and the remaining 15 percent for the non-institutional category.

Asia stocks pause at peaks, sustained by stimulus promise

Asian shares rested at record highs on Thursday as investors digested recent meaty gains, though the promise of endless free money to sustain buying was reaffirmed by benign U.S. inflation data and a very dovish outlook from the Federal Reserve. Adding to the torpor was a lack of liquidity as markets in China, Japan, South Korea and Taiwan were all on holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent, having climbed for four sessions straight to be up over 10 percent so far this year. Japan’s Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia’s main index held near an 11-month top.

India Pesticides Limited files DRHP to raise Rs 800 crore via IPO

India Pesticides Limited, an agrochemical technical company, has filed the draft red herring prospectus with market regulator SEBI to raise Rs 800 crore through a public issue. The IPO comprises fresh issuance of shares worth Rs 100 crore and an offer of sale through promoter and selling shareholders, aggregating up to Rs 700 crore. Promoter Anand Swarup Agarwal will offer shares worth Rs 281 crore while other selling shareholders will offer shares worth Rs 419 crore. As per the company’s exchange filing, it may undertake a pre-IPO placement of Rs 75 crore, subject to consultation with merchant bankers

Here is quick catchup of what happened in the markets on Wednesday

Indian shares ended flat on Wednesday as gains in heavyweight RIL, TCS and HDFC capped losses in banking stocks. The Sensex ended 19 points lower at 51,309 while the Nifty fell 3 points higher to settle at 15,106. Meanwhile, the broader markets outperformed benchmarks with the midcap and smallcap up 0.7 each. Among sectors, the Nifty Auto rose the most, up around 1 percent followed by the pharma index, which gained 0.7 percent. Meanwhile, Nifty IT added 0.4 percent. However, the Nifty Bank index underperformed, down 0.7 percent and Nifty Fin Services shed 0.2 percent for the day.

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