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Sensex surges 377 pts as financial, FMCG stocks rally; Nifty ends at 11,889
All that happened in the markets today
(Photo credit: Kamlesh Pednekar)
The domestic equity market ended around 1 per cent higher on Tuesday, led by gains in financial and FMCG stocks. Further, hopes of higher inflows after MSCI said it will implement the new regime on foreign ownership limits in the MSCI Global Indexes containing Indian securities in the November 2020 Semi Annual Index Review, also boosted investor sentiment.
Among headline indices, the S&P BSE Sensex rallied 377 points, or 0.94 per cent to settle at 40,522 levels while the Nifty50 index ended at 11,889, up 122 points, or 1 per cent. India VIX declined nearly 3 per cent to 22.19 levels.
Among sectoral indices, Nifty Private Bank index gained the most - up over 3 per cent to 13,756 points while Nifty Bank added nearly 3 per cent to 24,769.50. Nifty IT, on the other hand, slipped over 1 per cent to 21,023 levels.
In the broader market, the S&P BSE MidCap index gained 1.65 per cent to 14,954 levels while the S&P BSE SmallCap index rallied 0.6 per cent to 15,090 levels.
European equities fell in early Tuesday trading as risk-aversion swept markets, with a resurgence of coronavirus cases threatening the global economic recovery and caution ahead of US elections on November 3.
The MSCI world equity index, which tracks shares in 49 countries, was down 0.1 per cent at the time of writing of this report, having erased some losses overnight after dropping to a 19-day low in the previous session.
In commodities, oil prices rose towards $41 a barrel as oil companies shut down some US Gulf of Mexico oil output due to a hurricane, although surging coronavirus infections and rising Libyan supply limited gains.
(With inputs from Reuters)