MARKET WRAP: Indices rise for 3rd day, Sensex up 113 pts; IT stocks advance
All that happened in the markets today
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Among Nifty sectoral indices, Nifty IT gained nearly 1.5 per cent while Nifty PSU Bank slipped around 1.5 per cent.
The domestic stock market ended in the green for the third straight session on Tuesday, led by gains in HDFC Bank, and information technology (IT) stocks.
The S&P BSE Sensex settled 113 points, or 0.28 per cent higher at 40,544 levels and the Nifty50 gained 24 points, or 0.2 per cent at 11,897 levels. India Vix rallied 4 per cent to 22.69 levels.
HCL Tech (up 4 per cent), Tech Mahindra (up 3 per cent), and Asian Paints (up over 2 per cent) were the top Sensex gainers.
Among Nifty sectoral indices, Nifty IT gained nearly 1.5 per cent while Nifty PSU Bank slipped around 1.5 per cent.
In the broader market, the S&P BSE MidCap index ended 0.47 per cent higher at 14,775 levels while the S&P BSE SmallCap index ended at 14,896, up 0.3 per cent.
Global markets
European stocks recovered from early losses on Friday, following a bearish Asian session where investors adjusted their risk exposure before the US elections two weeks away. Record Covid-19 cases in Europe also weighed on sentiment.
MSCI world equity index, which tracks shares in 49 countries, slipped as much as 0.2 per cent.
In commodities, gold edged down while oil prices were little changed after three days of declines on fears that a resurgence of Covid-19 infections would stifle the recovery in fuel demand.
(With inputs from Reuters)
3:44 PM
SECTOR WATCH | Nifty IT gains nearly 1.5%
3:42 PM
MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex gained 113 points, or 0.28 per cent to settle at 40,544 levels while NSE's Nifty ended at 11,897, up 24 points, or 0.20 per cent.
3:28 PM
MARKET CHECK
3:20 PM
Tech Mahindra trades 3% higher
3:10 PM
Sugar stocks in focus; Balrampur Chini, Avadh Sugar up over 5%
Shares of sugar companies rallied by up to 7 per cent on the BSE on Tuesday after the industry body, ISMA, raised its sugar production estimate to 31.0 million tonnes (MT) from earlier 30.5 MT in the 2020-21 marketing season starting this month. It has also increased its sugar sacrifice estimate from 1.5 MT to 2.0 MT. Among the individual stocks, Balrampur Chini Mills, Avadh Sugar & Energy and Dhampur Sugar Mills were up 5 per cent to 7 per cent on the BSE. EID Parry and Dwarikesh Sugar Industries were up in the range of 2 per cent to 3 per cent, as compared to 0.3 per cent gain in the S&P BSE Sensex. READ MORE
3:04 PM
PSU Bank stocks slide in a strong market
2:56 PM
IPO ALERT :: Equitas Small Fin Bank IPO subscribed 28% till 2:30 pm on Day 1
2:50 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ACC | 1571.20 | 1622.00 | 0.54 |
| AMBUJA CEMENTS | 249.50 | 254.85 | 0.77 |
| J K CEMENTS | 1836.00 | 1858.90 | 2.20 |
| JSW STEEL | 317.30 | 319.65 | 1.20 |
| SRF | 4485.70 | 4524.00 | 0.81 |
2:46 PM
Equitas SFB IPO: YES Securities
Reco: Subscribe
While ESFB will see its profitability erode in FY21 on account of significant increase in credit cost and deceleration in growth, recovery in return ratios will ensue from FY22 as return to normalization begins. Strong capital buffer lends comfort on liquidity and growth fronts, and represents a substantial cushion to absorb even a worst-case credit shock. On post-money basis, the IPO has been priced at 1.2x current P/BV which we believe is attractive considering the long-term growth and profitability potential of the SFB.
While ESFB will see its profitability erode in FY21 on account of significant increase in credit cost and deceleration in growth, recovery in return ratios will ensue from FY22 as return to normalization begins. Strong capital buffer lends comfort on liquidity and growth fronts, and represents a substantial cushion to absorb even a worst-case credit shock. On post-money basis, the IPO has been priced at 1.2x current P/BV which we believe is attractive considering the long-term growth and profitability potential of the SFB.
Topics : Markets Britannia Industries HDFC Life Insurance Hindustan Unilever L&T Infotech Bombay Dyeing MARKET WRAP
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First Published: Oct 20 2020 | 7:50 AM IST