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Indices rally for 5th straight day, Sensex up 553 pts; RIL, financials gain

All that happened in the markets today

Topics
Markets | US Federal Reserve | US Presidential elections 2020

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (
Reliance Industries ended nearly 4 per cent higher at Rs 2,029 on the BSE.
Extending their gaining streak into the fifth straight session, the benchmark indices ended over 1 per cent higher on Friday, lifted mainly by index heavyweight and financials. Further, firm global cues, too, boosted investor sentiment. 

The S&P BSE Sensex added 553 points, or 1.34 per cent to settle at 41,893 levels and the Nifty50 index ended above the crucial 12,250 level at 12,264, up 143 points, or 1.18 per cent. 

On a weekly basis, Sensex gained 5.75 per cent while Nifty added 5.33 per cent.

today ended nearly 4 per cent higher at Rs 2,029 on the BSE after the conglomerate said that Saudi Arabia’s Public Investment Fund will invest Rs 9,555 crore for a 2.04 per cent equity stake in Reliance Retail.

In the broader market, the S&P BSE MidCap index rose 0.36 per cent while the S&P BSE SmallCap index ended 0.54 per cent higher. 

On the sectoral front, Nifty Bank rallied 486 points, or 1.85 per cent to 26,799 levels while Nifty IT gained 0.5 per cent. Nifty Pharma, on the other hand, lost 0.7 per cent.

Global markets

Global stocks were little changed but near a record high while the dollar and US bond yields stayed sluggish on Friday on bets that a divided US Congress would hinder government borrowing, which could pave the way for even more central bank stimulus.

In Asia, Japan’s Nikkei average rose 0.9 per cent to a 29-year high while MSCI’s broadest gauge of Asian Pacific shares outside Japan rose 0.3 per cent, near a three-year high. 

In commodities market, oil fell towards $40 a barrel as new lockdowns in Europe to halt surging Covid-19 infections sparked concern about the outlook for demand, while remained on edge over drawn-out vote counting in the US election.

(With inputs from Reuters)

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