Stock Market Live: Sensex tanks 940 pts, Nifty down 1.27% amid Monday mayhem

The National Stock Exchange (NSE) on Monday reported a 57 per cent year-on-year surge in consolidated net profit to Rs 3,137 crore for the September quarter.

The exchange posted a total income of Rs 5,023 crore during the July-September period of the current financial year (FY25), up 25 per cent on a year-on-year basis.

Public procurement portal Government e-Marketplace (GeM) on Monday said it has introduced 170 seed categories on the platform.

These seeds, it said, can be procured by central/state public sector units and other bodies for further dissemination across the country.
 

White collar hiring activity witnessed a growth of 10 per cent year-on-year in October mainly driven by a rise in recruitment in sectors, including oil and gas, pharmaceuticals, FMCG, and IT, a report said on Monday.

The Naukri JobSpeak Index, India's leading indicator of white-collar hiring activity, demonstrated robust growth in October, reaching 2,733 points compared to 2,484 in the same month of 2023, marking a significant 10 per cent year-on-year increase.

Gold prices retreated from record high in the national capital on Monday, declining Rs 1,300 to Rs 81,100 per 10 grams following fresh selling by stockists and retailers, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity had traded flat at Rs 82,400 per 10 grams -- its all-time high -- on Thursday.

Benchmark Sensex tanked nearly 942 points to settle at a three-month low while Nifty tumbled more than 1 per cent to close below 24,000 on Monday dragged down by heavy selling in Reliance Industries and banking shares.

The 30-share BSE Sensex tumbled 941.88 points or 1.18 per cent to settle at 78,782.24, the lowest closing level since August 6. During the day, it slumped 1,491.52 points or 1.87 per cent to 78,232.60.

Fitch Ratings on Monday affirmed IIFL Finance's ratings with a stable outlook, saying that after the lifting of the ban on new gold-backed lending imposed by the Reserve Bank of India (RBI), the firm's franchise will gradually stabilise.

The RBI in September, had lifted regulatory restrictions it had imposed in March on IIFL Finance's gold-backed lending business.

State-owned CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said.

Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures.

Two-wheeler maker Hero MotoCorp on Monday reported a 13 per cent rise in sales during the festive period this year at 15.98 lakh units, as compared to the year-ago period.

The company achieved its highest-ever retail sales during the 32-day festive period, starting from Navratri, Hero MotoCorp said in a regulatory filing.

Battery maker Exide Industries Ltd on Monday reported a 13.66 per cent decline in consolidated profit after tax at Rs 233.4 crore in the September quarter, impacted by higher expenses.

The company had posted a consolidated profit after tax (PAT) of Rs 270.32 crore in the same quarter last fiscal, Exide Industries Ltd said in a regulatory filing.

Car market leader Maruti Suzuki India cut production of its passenger cars by 16 per cent last month but increased those of utility vehicles by 33 per cent compared to October 2023, according to a regulatory filing by the company.

Its passenger cars production stood at 89,174 units last month against 1,06,190 units in October 2023, down 16 per cent, Maruti Suzuki India said in the filing.

Gold prices on Monday declined Rs 485 to Rs 78,382 per 10 grams in futures trade amid weak global cues.

On the Multi Commodity Exchange, gold contracts for December delivery traded lower by Rs 485 or 0.61 per cent at Rs 78,382 per 10 grams in a business turnover of 13,460 lots.

Coriander prices on Monday eased by Rs 42 to Rs 7,454 per quintal in futures trade as speculators reduced their positions amid weak demand in the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for December delivery declined Rs 42 or 0.56 per cent to Rs 7,454 per quintal in 8,405 lots.

Aluminium prices on Monday slipped Rs 1.40 to Rs 240.15 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market.

On the Multi Commodity Exchange, aluminium for delivery in November fell Rs 1.40 or 0.58 per cent to Rs 240.15 per kg in 3,551 lots.

Investors' wealth eroded by Rs 7.37 lakh crore on Monday morning, as the equity markets fell sharply with the BSE Sensex tumbling 1,192 points.

Markets were dragged down by Reliance Industries and unabated selling by foreign investors. Investors also turned cautious ahead of the US presidential elections and Federal Reserve interest rate decision scheduled to be announced later this week.

India's manufacturing sector growth recovered from September's eight-month low to 57.5 in October fuelled by faster increases in total new orders and international sales, a monthly survey said on Monday.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from September's eight-month low of 56.5 to 57.5 in October, indicating a substantial and accelerated improvement in operating conditions.

 The Indian rupee was nearly unchanged on Monday as the weakness in local equities blunted the impact of a rise in most Asian currencies, as the dollar weakened ahead of the outcome of the U.S. presidential election later this week.

The rupee INR=IN was at 84.0675 against the U.S. dollar as of 10:10 a.m. IST, compared to its close at 84.0750 in the previous session.

Oil prices extended gains on Monday, rising more than $1 on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a week that spans a US presidential election and a key meeting in China.

Brent LCOc1 futures rose by $1.18 per barrel, or 1.61%, to stand at $74.28 a barrel by 0402 GMT. US West Texas Intermediate (WTI) crude CLc1 rose by $1.21 a barrel, or 1.74 per cent, to stand at $70.70.

Most Asian currencies advanced on Monday as the dollar took a breather at the start of a week packed with the US presidential election, a Federal Reserve meeting, and inflation data from Asian countries.

The Philippine peso was up 0.5 per cent, while the South Korean won and the Singapore dollar climbed 0.6 per cent and 0.7 per cent respectively. They had posted consecutive weekly declines in the prior week.