MARKET WRAP: Sensex pares gains, ends 87 pts higher; Nifty closes at 11,330
All that happened in markets today.
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markets
After rising around 1 per cent in the intra-day deals, benchmark indices lost momentum in the last hour of the trade to settle with marginal gains on Monday.
The benchmark S&P BSE Sensex ended at 38,214.47, up 87 points or 0.23 per cent. During the day, the index hit a high and low of 38,513.69 and 38,066.13, respectively. TCS, Axis Bank, ONGC, HDFC Bank and Bharti Airtel contributed the most to the index's gains while Infosys, and Bajaj Finance emerged as top drags.
The broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,329.80, up 25 points or 0.22 per cent.
Market breadth remained in favour of declines as out of 2,734 companies traded on the BSE, 1,229 advanced and 1,279 declined while 226 scrips remained unchanged.
In the broader market, the S&P BSE MidCap index ended at 13,841.01, up 60 points or 0.44 per cent and the S&P BSE SmallCap closed at 12,787.59, up 16 points or 0.12 per cent.
On the sectoral front, barring Nifty IT and Nifty PSU Bank index, all the sectoral indices on the NSE ended in the green. Nifty Realty advanced the most, followed by Nifty Auto and Nifty Pharma.
BUMPER LISTING
Shares of Indian Railway Catering and Tourism Corporation (IRCTC), the online ticketing, tourism and the catering arm of railways, made a stellar debut on the bourses by listing at Rs 644, a 101 per cent premium over its issue price of Rs 320 per share on the BSE. At close, the stock stood at Rs 728.60 apiece on the BSE, up around 128 per cent. With this, IRCTC saw the best stock market debut in at least three years. READ MORE
Among individual stocks, shares of Adani Gas zoomed 18 per cent to Rs 162 on the BSE after the company said French energy giant Total SA would acquire 37.4 per cent stake in it. The stock settled at Rs 150.60, up nearly 9.50 per cent. READ MORE
Infosys, on the other hand, ended nearly 4 per cent lower as investors booked profit post Q2 results.
GLOBAL MARKETS
A global index of stock markets slipped on Monday as signs of progress in the China-US trade dispute drew mixed a reaction from investors, with some cautioning over a lack of detail in the initial stages of the agreement. The pan-European STOXX 600 index was down 0.75 per cent in early trade. Germany's DAX, dominated by companies exposed to China, slipped 0.5 per cent. All European country indexes were in the red.
MSCI’s All-Country World Index, which tracks shares across 47 countries, was down 0.06 per cent on the day. Australia's main index gained 0.54 per cent and South Korea rose 1.11 per cent. Shanghai blue chips added 1 per cent.
E-Mini futures for the S&P 500 were down 0.2 per cent.
In commodities, oil prices eased. Brent crude futures fell by 69 cents to $59.82 a barrel, while US West Texas Intermediate (WTI) crude futures was at $54.09 a barrel, down 61 cents.
(With inputs from Reuters)
3:45 PM
NSE snapshot
3:44 PM
Index contributors today (BSE Sensex)
3:43 PM
ONGC, Tata Motors among key Sensex gainers
3:42 PM
Index watch
3:36 PM
CLOSING BELL
The S&P BSE Sensex rose 87 points or 0.23 per cent to settle at 38,214.47 levels, while the NSE's Nifty50 index ended at 11,330, up 25 points or 0.22 per cent.
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The appellate tribunal also put the Rs 19,700-crore payout by the JSW Steel to buy the debt-ridden company on hold till further orders.
An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya slammed the ED, saying that Insolvency and Bankruptcy Code (IBC) would fail if the agency functions like this and directed it to file a reply in the next two days, along with CBI. READ MORE
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Top 5 losers on the BSE at present
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-- Have also made significant progress in bringing in investors' interest in certain projects for extending fresh working capital to get the projects moving towards
-- Have also made significant progress in bringing in investors' interest in certain projects for extending fresh working capital to get the projects moving towards
completion stage
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ICICI Securities on Infosys
In line revenue and better-than-expected margins, accelerating deal TCV, digital growth and scope of margin expansion are key positives. Though we expect revenue growth to moderately surpass the upper guided band, the recent run up in the stock and fully priced valuations prompt us to maintain our HOLD rating with a revised target price of Rs 855 (based on 19x FY21E EPS).
Topics : Markets MARKET WRAP
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First Published: Oct 14 2019 | 7:36 AM IST
