You are here: Home » Markets » News

Indices gain for 6th day, Nifty reclaims 10K; PSBs, realty stocks rally

All that happened in the markets today

MARKET WRAP | Britannia Industries | Markets

SI Reporter  | New Delhi 


Extending its gains into the sixth consecutive session, the domestic equity market settled in the positive territory on Wednesday on optimism around gradual opening up of the economy and strong global cues. NSE's Nifty reclaimed the crucial 10,000 level after nearly 3 months amid buying in financial counters. 

The S&P BSE Sensex ended 284 points or 0.84 per cent higher at 34,109.54 levels while NSE's Nifty gained 82 points or 0.83 per cent to settle at 10,061.55. The index topped the key 10,000 level for the first time since March 13 this year. 

In the broader market, smallcaps outperformed the frontline indices while mid-caps ended flat. The Nifty SmallCap 100 index gained over 1 per cent to 4,278 levels while the Nifty Midcap 100 index gained 0.4 per cent to close at 13,924 points. 

Sectorally, Nifty PSU Bank index jumped over 5 per cent to 1,284.45 while Nifty Realty ended at 200.85 levels, up over 3 per cent. On the flip side, Nifty IT index slipped 0.42 per cent while Nifty Metal shed 0.17 per cent. 

Among individual stocks, Britannia hit a new high of Rs 3,704.55 during the session as the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. The stock ended at Rs 3,510.25, up nearly 2 per cent. READ MORE

Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE after the airline' March quarter numbers beat Street expectations. Besides, analysts' optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock. The stock ended around 8.5 per cent higher at Rs 1,025.55 apiece on the BSE. READ MORE

Shares of Mahindra & Mahindra (M&M) moved higher by 6 per cent to Rs 485 on the BSE after the company announced fund raising plans. READ MORE

Global markets

World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising Covid-19 tolls.

The MSCI world equity index, which tracks shares in 49 countries, rose to its highest since March 6, having gained throughout the Asian session.

MSCI’s main European Index also held near three-month highs and European bourses opened higher, with the STOXX 600 up over 1% and back to levels not seen since March 6.

In commodities, oil prices rose, topping $40 a barrel for the first time since March, supported by lower US inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the crisis.

(With inputs from Reuters)


Auto Refresh