Stock Market LIVE: Sensex, Nifty tumbles after positive opening, FIIs rout continues

The Competition Commission of India (Commission) on Monday imposed a penalty of Rs 213.14 crore on Meta for abusing its dominant position. “This relates to how WhatsApp's 2021 Privacy Policy was implemented and how user data was collected and shared with other Meta companies,” CCI said in a statement.

The government has extended the tenure of Mallika Srinivasan as the head of the Public Enterprises Selection Board (PESB) by one year after it made an exception to rules to allow the private sector specialist to continue on the job beyond the cut-off age of 65 years, according to an official order. Srinivasan, Chairman and Managing Director of Tractors and Farm Equipment (TAFE) Limited, was originally appointed as the chairperson of government headhunter PESB in April 2021 for a three-year tenure till April 8, 2024. In March this year, the tenure was extended from April 9, 2024, to November 18 - the date she attained the age of 65 years. PESB is a non-statutory body that advises the government on appointments to the highest posts in Central Public Sector Enterprises. The board comprises a chairman and three members. The term of office for the chairperson and members is three years, or until they turn 65, whichever comes first. The chairperson/members are eligible for consideration of reappointment for a second term subject to the age limit of 65 years, according to the PESB website. On Saturday, the Department of Personnel and Training issued an order, extending her tenure by one year.

Central Board of Indirect Taxes and Customs (CBIC) on Monday extended by a day till November 21 the last date for GST taxpayers in Maharashtra and Jharkhand to file GSTR-3B and pay taxes for October. The polling for the legislative assembly elections in Maharashtra and Jharkhand is scheduled for November 20. In an X post, CBIC said November 20 is also the due date for filing the GSTR-3B return for October 2024, and this may cause difficulty to the taxpayers of these states in finding time to exercise their right to vote for the election. "The Government, with the approval of GST Implementation Committee (GIC), has decided to extend the due date of filing of Form GSTR-3B for the month of October 2024 for the registered persons having their principal place of business in the said states from 2O.11.2024 to 21.11.2024," CBIC said. 
 

 Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets.

Marking a new record, domestic air passenger traffic crossed 5 lakh for the first time in a single day on Sunday, reflecting strong travel demand amid festive and wedding seasons.

Airlines carried 5,05,412 passengers on Sunday (November 17) and the number of flight departures was at 3,173, according to the latest data from the civil aviation ministry.

“Rail Vikas Nigam Limited has received Letter of Acceptance from South Central Railway for “Engineering Procurement Construction (EPC) Contract of Doubling of Track between Navipet station (Excl) from Km 446.900 to Indalvai Station (Incl) Km 482.900 (33.70 km), {Excluding Nizamabad Yard from Km 458.825 to 461.125 (i.e.) 2.3 Km} including Electrification & Signaling works in of South-Central Railway in connection with Mudkhed-Medchal Doubling Project in the State of Telangana,” the company informed in a BSE filing. 

Silver prices on Monday jumped Rs 724 to Rs 89,145 per kilogram as participants increased their bets.

On the Multi Commodity Exchange, silver contracts for December delivery increased by Rs 724 or 0.82 per cent to Rs 89,145 per kg in a business turnover of 22,295 lots.

Gold prices on Monday increased Rs 450 to Rs 74,396 per 10 grams in futures trade as speculators created positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 450 or 0.61 per cent at Rs 74,396 per 10 grams in a business turnover of 10,471 lots.

A US stock rally fueled by Donald Trump’s election victory is stumbling, as investors contend with everything from renewed inflation worries to uncertainty over the impact of the president-elect's policies.

The S&P 500 fell 2 per cent in the past week, erasing more than half its gains from a post-election surge fueled in part by optimism over the pro-growth policies that are a key part of Trump’s economic platform.

Nine flights were diverted and many flights were delayed at the Delhi airport on Monday due to bad weather conditions in the national capital, according to an official.

The official said eight flights were diverted to Jaipur and one to Dehradun 

SoftBank-backed e-commerce platform Meesho has acted against 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company's annual report released on Monday.

Meesho's 'Trust Assurance Report' said that it's team has developed pioneering analytical models, sophisticated data science frameworks, and advanced computational logic, which has helped prevent 13 lakh bot orders and blocked 77 lakh scam attempts from accessing the company's platform.

Shares of two-wheeler major Hero MotoCorp on Monday surged over 5 per cent after the firm's consolidated profit after tax increased 6 per cent year-on-year to Rs 1,066 crore for the quarter ended on September 30, 2024, driven by higher sales.

The stock climbed 5.12 per cent to Rs 4,840.40 on the BSE.

Union minister Nitin Gadkari has said the proposed water taxi services would enable people to reach the upcoming Navi Mumbai International Airport from anywhere in Mumbai in 17 minutes, thus effectively reducing the travel time.

The Minister for Road Transport and Highways was addressing a poll rally in Maharashtra's Thane city on Sunday night where he spoke about the government's plans aimed at transforming connectivity and alleviating traffic congestion in Mumbai and Thane.

Shares of Honasa Consumer Ltd, which owns FMCG brands such as Mamaearth and The Derma Co, tumbled 20 per cent on Monday after the firm reported a consolidated loss of Rs 18.57 crore for the second quarter ended September 30, 2024 on account of inventory correction.

The stock slumped 20 per cent to Rs 295.80 -- the lower circuit limit -- on the BSE.

The Lokpriya Gopinath Bordoloi International (LGBI) Airport said it has handled 1.74 lakh passengers in just 10 days since November 6.

The Adani Group-controlled facility, in a statement, said the LGBI Airport in Guwahati successfully managed 1,202 flights, ensuring smooth operations for passengers, during the 10-day period this month.

After a strong market opening, Sensex and Nifty have fallen drastically with Sensex tumbling as much as 509 points or 0.66 per cent while NSE's Nifty 50 lost nearly 151 points or 0.68 per cent. 

Top Losers: 

• Dr Reddy
• Wipro
• Tech Mahindra
• Infosys
• TCS

After a positive opening, both Nifty and Sensex flushed down the gains to trade flat, marginally lower from their previous closes. 

Gainers: 

• Asian Paints
• Tata Steel
• HDFC Bank
• Bajaj Finance
• L&T
   

The domestic stock market bourses opened on a positive note on Monday amid mixed movements in Asian peers. The BSE’s 30-share Sensitive Index opened 283 pts or 0.25 per cent higher led by gains in Tata Steel, L&T, Sun Pharma, and Mahindra & Mahindra. 

Where the National Stock Exchange’s benchmark index Nifty 50 opened 70 pts or 0.25 higher on November 18. However, after a positive opening, both the indexes flushed down the gains to trade flat, marginally lower from their previous closes. 

Japan's Nikkei share average fell on Monday as technology shares tracked U.S peers' losses at the end of last week, while drugmaker shares declined after a noted vaccine sceptic was appointed to head the US Department of Health.

Uttar Pradesh Chief Minister Yogi Adityanath on Sunday instructed the state government officials to ensure adequate supply of fertilizer to farmers.

The chief minister held a meeting to discuss the issue of availability of fetilizers. The meeting was attended by the state chief secretary, principal secretary of the agriculture department, principal Secretary of the cooperative department, and other senior officials, according to a statement issued here.

The domestic stock markets are set for a positive start to the week, as the GIFT Nifty traded 61 points higher on Monday. 

The index was trading at 23,506 with an uptick of 0.3 per cent. 

The dollar was looking to extend its bull run on Monday as lofty Treasury yields and a more restrained outlook for U.S. rate cuts burnished its attractiveness, though the risk of intervention had caused a pullback against the yen.

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency.

 Private carrier IndiGo on Sunday night said fog is affecting visibility in the national capital which could delay flight schedules, while Delhi airport operator DIAL has put in place low visibility procedures.

The national capital is grappling with high pollution levels which have resulted in lower visibility at various parts of the city.