MARKET WRAP: Sensex surges 835 pts, Nifty reclaims 11K; Nifty IT up over 3%

4:12 PM Sep 20

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

Indian benchmark indices showcased steady gains throughout the course of the trading day, before finally ending up by more than 2 per cent; almost entirely recouping the losses in yesterday’s trade. This relief rally was in spite of mostly negative global cues and seemed to be based on the hope of more stimulus measures by the government. On a weekly basis, the recovery today enabled the benchmark indices to limit to around 3.8 per cent loss for the week. FPIs have net sold close to Rs 2,000 crore so far this month, which indicated the uncertain trend in the markets, after a huge month of inflows in August.

 

WEEK AHEAD

 

In spite of the rally seen today, the market is expected to remain volatile and directionless in the absence of solid triggers. Global cues will continue to be in focus as a resurgence in virus cases around the world, leads to more restrictions and more pressure on economic recovery. Traders are advised limiting overnight positions and Investors are advised to only accumulate quality stocks for the time being.

3:43 PM Sep 20

SECTOR WATCH | Nifty IT ends nearly 3.5% higher

3:42 PM Sep 20

MARKET AT CLOSE | All 30 constituents of S&P BSE Sensex end in the green

3:36 PM Sep 20

CLOSING BELL

The S&P BSE Sensex gained 835 points, or 2.28 per cent to settle at 37,389 while NSE's Nifty ended at 11,050, up 245 points, or 2.26 per cent.

3:26 PM Sep 20

MARKET CHECK

3:18 PM Sep 20

Vakrangee hits 10% upper circuit on RBI's in-principle nod to set up BBPOU

The trading volumes jumped 1.5 times, with a combined 1.7 million equity shares were changing hands till 02:58 pm. There were pending buy orders for 802,000 shares on the BSE and NSE, the exchange data show. READ MORE 

3:11 PM Sep 20

MARKET CHECK | ITC rises 2.5%

3:04 PM Sep 20

NEWS ALERT :: Vodafone wins arbitration against India over retro tax demand of Rs 20,000 cr

>> Permanent Court of Arbitration in Hague rules that conduct of I-T Dept is in breach of 'fair and equitable' treatment. 

(Source: CNBC TV18)

2:58 PM Sep 20

Global GDP shrinks 7.2% in April-June 2020 due to Covid-19: Motilal Oswal

The global real private final consumption expenditure (PFCE) declined at record 11 per cent YoY last quarter while global real gross capital formation (GCF) fell 6per cent, and global real government final consumption expenditure (GFCE) remained stagnant in 2QCY20. READ MORE

2:56 PM Sep 20

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADVANCED ENZYME	294.60	317.20	7.99
APOLLO HOSPITALS	2024.40	2038.25	3.89
COFORGE	2286.75	2304.50	8.21
GRANULES INDIA	376.60	395.00	4.44
SUVEN PHARMA	384.00	416.20	3.90

2:47 PM Sep 20

MARKET CHECK :: Sensex soars over 850 pts, recovers most of Thursday's losses

2:41 PM Sep 20

HEATMAP:: All Sensex constituents trade in green, led by Bajaj Finserv, up 7%

2:35 PM Sep 20

Loan moratorium case: Adverse SC verdict could heavily affect banks in Q2

News reports suggest that the Mehrishi Committee has recommended the government to bear the brunt of this liability and a relief be provided to the most affected segment of borrowers. While this does bode well for banks, going by precedence, analysts say they would be surprised if the government offers any support. “As per our observation, unless it is a government announced scheme like a farm waiver, it is unlikely that such costs are borne by the government,” says an analyst with a foreign brokerage. Some are also of the view that if the government extends any relief it could turn counter-productive at this juncture. “There could be an uproar that this money could have been used for recapitalising government-owned banks or serving the public directly; why help the banks instead,” head of research at domestic brokerage points out. READ MORE

2:25 PM Sep 20

MARKET CHECK :: Nifty reclaims 11,000-mark

2:24 PM Sep 20

MARKET CHECK :: Sensex leaps 800 pts

2:22 PM Sep 20

Camlin Fine surges 11% in one week after it starts production at Dahej unit

Trading volumes on the counter more-than-doubled with a combined 733,000 equity shares changing hands on the NSE and BSE till the time of writing of this report. There were combined pending buy orders for 180,000 shares at 01:47 pm, exchange data show. READ MORE

2:15 PM Sep 20

Rupee Closing

Rupee ends higher at 73.61 per US dollar vs Thursday's close of 73.90/$

2:08 PM Sep 20

Q&A | Financial sector is in the middle of a perfect storm: Pankaj Murarka

Globally, we are witnessing a pullback in risk assets across the board after a ferocious rally in the last six months. After the sharp rally, equity markets are ahead of the real economy and we are witnessing profit-taking. It is a healthy correction in the bull-market and investors with a long-term view should use this pullback as an opportunity to invest in equities. As economies unlock and get back to their normalised level of activity, equities should do well over the next two-three years. READ MORE 

2:02 PM Sep 20

BUZZING STOCK :: Nestle extends gains

1:54 PM Sep 20

MARKET CHECK | Top gainers on the BSE at this hour