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Indian shares drop a second day in a row

By Munikoti Rochan

10:46, 17 November 2021

Stocks market chart
Stock market chart - Photo: Shutterstock

Indian shares finished lower for a second straight session Wednesday amid the lack of fresh cues.

The National Stock Exchange’s (NSE) Nifty50 index closed 0.56% lower at 17,898.65 points, while the S&P BSE Sensex ended 0.52% lower at 60,008.33 points.

  • The Nifty Realty Index, comprised of 10 home and office builders including Godrej Group firm Godrej Properties lost 1.64%
  • The Nifty Oil & Gas index, a basket of 15 stocks including fuel retailer Hindustan Petroleum Corporation (HPCL), fell 1.46%
  • The Nifty Pharma index, comprised of 20 medicine manufacturers including Glenmark Pharmaceuticals, dropped 1.28%

The Indian rupee was trading 0.23% higher to the US dollar, to INR74.28 at 16:00 hours local time (UTC+5:30).

On the Nifty50

Shares of coatings major Asian Paints, the nation’s leading carmaker Maruti Suzuki India (MSIL), and the SBI Life Insurance Company were the top gainers, adding 2.36%, 2.36%, and 2.35% respectively.

But stock in chemicals manufacturer UPL, oil-to-retail conglomerate Reliance Industries (RIL), and drug maker Cipla were the top losers, shedding 3.18%, 2.19%, and 2.09% respectively.


0.66 Price
-0.460% 1D Chg, %
Long position overnight fee -0.0073%
Short position overnight fee -0.0009%
Overnight fee time 22:00 (UTC)
Spread 0.00006


1.09 Price
-0.540% 1D Chg, %
Long position overnight fee -0.0099%
Short position overnight fee 0.0017%
Overnight fee time 22:00 (UTC)
Spread 0.00006


1.26 Price
-0.570% 1D Chg, %
Long position overnight fee -0.0047%
Short position overnight fee -0.0035%
Overnight fee time 22:00 (UTC)
Spread 0.00013


0.66 Price
-0.460% 1D Chg, %
Long position overnight fee -0.0073%
Short position overnight fee -0.0009%
Overnight fee time 22:00 (UTC)
Spread 0.00006

On the Sensex

MSIL, Asian Paints, and the Power Grid Corporation of India (PGCIL) were the biggest gainers, adding 2.77%, 2.47%, and 2.08% respectively.

The country’s third-largest private lender Axis Bank, RIL, and the Kotak Mahindra Bank (KMB) were the biggest losers, shedding 1.95%, 1.91%, and 1.51% respectively.

Expert’s views

“The jump in headline wholesale price inflation in October was due almost entirely to higher commodity prices, but we think they are now close to peaking,” said London-based Capital Economics’ Asia economist Darren Aw.

“While the Reserve Bank of India (RBI) will be wary that wholesale prices remain elevated, there’s still scope to keep policy accommodative given the much lower rate of headline CPI inflation,” Aw wrote in a 15 November note to clients, published on his firm’s website.

Read more: SpiceJet’s shares drop amid Boeing settlement

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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