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MARKET WRAP: Sensex gains 95 pts, Nifty ends at 11,227; FMCG stocks advance
All that happened in the markets today
The Indian markets ended flat with a positive bias on Wednesday, lifted mainly by HDFC Bank, HDFC, and FMCG stocks.
Among the headline indices, the S&P BSE Sensex settled 95 points, or 0.25 per cent higher at 38,068 levels, and the Nifty50 index ended at 11,226.5 levels, up 4 points, or 0.04 per cent. Tech Mahindra (up nearly 3 per cent), Titan (up nearly 3 per cent), Nestle India, and Hindustan Unilever (both up 2 per cent) were the top Sensex gainers.
Shares of Reliance Industries rose 1 per cent in early deals after the company said that General Atlantic, a leading global growth equity firm, will invest Rs 3,675 cr in Reliance Retail Ventures Limited. The stock, however, ended 0.49 per cent lower at Rs 2,233.75 on the BSE. READ MORE
The trend among Nifty sectoral indices was mixed, with the Nifty FMCG index, up over 1 per cent, leading the list of gainers.
In the broader market, the S&P BSE MidCap and SmallCap indexes ended 0.05 per cent and 0.04 per cent higher, respectively.
World stocks fell and safer assets, such as the yen and dollar, found buyers on Wednesday after a chaotic first US presidential debate and rising Covid-19 cases turned investors cautious, though strong factory surveys boosted China’s markets.
MSCI’s broadest index of world shares which tracks nearly 50 countries dropped 0.2 per cent for a 4 per cent September loss. In Europe, the pan-European STOXX 600 index fell 0.4 per cent tracking Wall Street futures lower.
In commodities, oil prices extended losses as rising Covid-19 cases fuelled demand concerns.
(With inputs from Reuters)