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MARKET WRAP: Indices gain for 3rd day, Sensex up 86 pts; PSU banks rally

All that happened in the markets today

Markets | Reliance Industries | Indiabulls Real Estate

SI Reporter  | New Delhi 


The benchmark indices ended in the positive territory for the third consecutive session on Wednesday, led by buying in (RIL), HDFC Bank, ICICI Bank, and Bharti Airtel. 

The S&P BSE Sensex ended at 38,615 levels, up 86 points, or 0.22 per cent with Tech Mahindra (up around 2 per cent) being the top gainer and Bajaj Auto (down over 1 per cent) the biggest loser. NSE's Nifty ended at 11,408, up 23 points or 0.20 per cent. India VIX, the volatility gauge, dropped another 2 per cent to 19.96 levels. 

The sectoral trend on the NSE was mostly positive. Nifty Media rallied the most - up over 5 per cent to 1,550.50 levels. Nifty PSU Bank gained over 2 per cent to 1,462.45 points. On the other hand, Nifty FMCG slipped 0.44 per cent to 31,586.05 points. 

In the broader market, the S&P BSE MidCap index ended at 14,741.42, up 0.6 per cent while the S&P BSE SmallCap index gained over 1 per cent to 14,318 levels.

Buzzing stocks

Shares of Dilip Buildcon surged 10 per cent to Rs 418.05 on the BSE after the company announced that its Joint Venture with Hindustan Construction Company (HCC) has received a letter of acceptance (LoA) from Rail Vikas Nigam Limited for a new project worth Rs 1,334.95 crore in Uttarakhand. The stock ended at Rs 405.20, up over 6.5 per cent. READ MORE

CSB Bank zoomed 14.4 per cent to Rs 227.85 on the BSE after the bank's net profit grew 174.1 per cent on a yearly basis to Rs 53.56 crore in June quarter of FY21, as against Rs 19.54 crore in Q1FY20. In the March quarter of FY20, the bank had incurred net loss of Rs 59.68 crore. The stock settled at Rs 225.45, up over 13 per cent. READ MORE
(RIL) ended nearly 0.7 per cent higher at Rs 2,133 on the BSE after the Mukesh Ambani-owned conglomerate on Tuesday announced the acquisition of a majority equity stake in Chennai-based online pharmacy delivery startup Netmeds (Vitalic Health Pvt. Ltd) for a cash consideration of approximately Rs 620 crore. READ MORE
Global markets 

European stocks edged up on Wednesday as a record high for US stocks outweighed simmering worries over a resurgence in coronavirus cases that could undermine a nascent recovery. The broad Euro STOXX 600 gained 0.1 per cent in choppy trading, with indexes from Frankfurt to London making slim gains.

MSCI’s broadest index of Asia-Pacific shares outside of Japan fell 0.2 per cent, after initial support from an S&P 500’s charge to a record high powered by looser policy and charging tech stocks.

Wall Street futures pointed to slim gains.

In commodities, oil prices eased on concerns that US fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus package, overshadowing a bigger-than-expected drawdown in US crude stocks.

(With inputs from Reuters)


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