You are here: Home » Markets » News

MARKET WRAP: Sensex gains 223 pts as banks rally; Nifty settles at 8,993

All that happened in the markets today

MARKET WRAP | Wipro results | Markets

SI Reporter  | New Delhi 


The benchmark indices pared gains but still managed to settle in the positive territory on Thursday amid buying in financial stocks such as ICICI Bank, HDFC Bank, HDFC, and SBI.

The S&P BSE Sensex gained 223 points or 0.73 per cent to end at 30,602.61 while NSE's benchmark index Nifty settled just shy of 9,000 level - at 8,992.80, up 67.5 points or 0.76 per cent. During the day, however, the index reclaimed the crucial level.  Volatility index, India VIX, declined 7.65 per cent to 45.9275 levels. 

In the broader market, the S&P BSE MidCap gained 1.42 per cent to end at 11,578.31, thus outperforming the benchmark indices. The S&P BSE SmallCap index rose 1.71 per cent to 10,543.65 levels. 

Sectorally, barring Nifty IT and Nifty FMCG, all the sectoral indices on the NSE ended in the green. IT stocks tumbled after posted muted numbers for the quarter ended March 31, 2020. The Nifty IT index settled around 2 per cent lower at 12,463.60 levels. 


Shares of Nestle India surged 3.5 per cent and hit a new high of Rs 17,925 on the BSE with its market capitalisation crossing Rs 1.7 trillion-mark on the BSE. The fast moving consumer goods (FMCG) company surpassed its previous high of Rs 17,521 hit on April 8, 2020. The stock settled at Rs 17,873.45, up over 3 per cent. READ MORE

Shares of Biocon jumped 5 per cent to Rs 353 on the BSE after the company’s biologics manufacturing facilities in Bengaluru received the Establishment Inspection Report (EIR) from the US health regulator. It ended the day at Rs 349.85, up nearly 4 per cent. READ MORE

Shares of Larsen & Toubro (L&T) continued their northward march for the seventh straight day, up 4.5 per cent at Rs 920 on the BSE after the company said its heavy engineering arm has won ‘significant’ contracts in the January-March quarter (Q4FY20). READ MORE

Global Markets 

Europe led world stock back to higher ground on Thursday as tentative moves to reopen parts of the some of its larger coronavirus-hit economies offset some truly stinking global economic numbers. 

The International Monetary Fund is predicting zero growth in Asia this year for the first time in 60 years, as exporters are pounded by slumping demand and anti-virus measures force consumers to stay home and shops to shut down. Benchmark indexes in Australia, Hong Kong and Shanghai also posted falls between 0.4% and 1.3% and some emerging fell harder.

In the commodity market, oil prices were broadly stable on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in US inventories may mean producers have little option but to deepen output cuts as the pandemic ravages demand.

Brent crude was down 19 cents, or 0.7 per cent, at $27.50 a barrel while WTI was up 7 cents, or 0.4 per cent, at $19.94.

(With inputs from Reuters)


Auto Refresh