Business Standard

F&O expiry: Sensex pares gains, ends 77 pts higher; YES Bank advances 24%

All that happened in markets today.

Image SI Reporter New Delhi
Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar

After soaring over 340 points to hit a fresh lifetime high of 40,392 levels in the intra-day deals, the S&P BSE Sensex pared its gains to settle at 40,129, up 77 points or 0.19 per cent on Thursday, the last day of the October series of the futures & options (F&O) contracts.  

Markets witnessed sharp sell-off in the fag-end of the session after reports surfaced Chinese officials had doubts about whether it was possible to reach a comprehensive long-term trade deal with Washington and US President Donald Trump.

YES Bank (up around 24 per cent) emerged as the biggest gainer on the Sensex after the lender said it has received a binding offer of US $1.2 billion from a global investor. READ MORE

On the downside, Tech Mahindra (down over 2 per cent) bled the most. 

Broader market outperformed the benchmarks. The S&P BSE MidCap index gained over 167 points or 1 per cent to settle at 14,865 while the S&P BSE SmallCap index closed at 13,558., up 127 points or nearly a per cent.

On the NSE, the benchmark Nifty50 added 37 points or 0.31 per cent to end at 11,881. 

Sectorally, PSU banks and media counters advanced the most. The Nifty PSU Bank index gained nearly 4 per cent to end at 2,505 while the Nifty Media gained over 3 per cent to settle at 1,787. 

Voaltility index India VIX declined around 2 per cent to 16.30 levels. 

BUZZING STOCKS

Shares of Tata Motors hit a five-month high of Rs 180, up 4 per cent on the BSE, zooming 42 per cent in the past four days, after it delivered a better-than-expected September quarter (Q2FY20) earnings show, with improvement in the operational performance at Jaguar Land Rover (JLR), its Britain-based luxury vehicle arm. The stock eventually closed at Rs 178, up 3.40 per cent. READ MORE  

JK Tyre & Industries surged as much as 13.87 per cent to Rs 80 apiece on the BSE during the day. The company on Wednesday reported over three-fold jump in the consolidated net profit to Rs 167.70 crore in the September quarter driven by gains from deferred tax liability. At close, shares stood at Rs 75.60, up nearly 8 per cent. 

On the contrary, telecom majors Vodafone Idea and Bharti Airtel were under pressure, slipping up to 9 per cent during the day, after rating agencies underlined concerns emerging from the Supreme Court's ruling in the adjusted gross revenue (AGR) case. Vodafone Idea settled at Rs 3.89, up 2 per cent while Bharti Airtel ended at Rs 374, up over 1.50 per cent.

GLOBAL STOCKS

Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and US Treasury yields declined. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.53 per cent to the highest since July 30. Hong Kong shares rose 0.93 per cent, while Japan’s Nikkei stock index rose 0.43 per cent.

The pan-region Euro Stoxx 50 futures were up 0.08 per cent, German DAX futures added 0.1 per cent, while FTSE futures edged down 0.02 per cent. 

In commodities, oil prices edged up. Brent crude futures were up 39 cents, or 0.6 per cent, at $61 a barrel. US West Texas Intermediate (WTI) crude futures were up 30 cents, or 0.5 per cent, at $55.36 after a 0.9 per cent decline in the previous session.

(With inputs from Reuters)
4:04 PM

MARKET COMMENT | Sanjiv Bhasin, Director, IIFL Securities

"We are in a bull market. The economy is coming back on track and we are clearly overdone on consumption pessimism. The cut in tax rate is also boosting market sentiment. And, with its ambitious disinvestment plan, the government has set the cat among the pigeons.”
4:00 PM

SECTOR WATCH | Top gainers and losers on the NSE

3:38 PM

CLOSING BELL

The S&P BSE Sensex ended at 40,129, up 77 points while NSE's Nifty50 index closed 37 points or 0.31 per cent higher at 11,881.
3:19 PM

Top 5 gainers on the BSE at present

2:58 PM

Market check | Sharp sell-off in markets on reports long-term US-China trade deal uncertain

2:52 PM

NEWS ALERT | China said to doubt long-term trade deal possible with US President Donald Trump: Bloomberg

2:48 PM

Earnings Alert | Syndicate Bank Q2 result

-- NII at Rs 1,739.2 cr, up 10.6% YoY

-- Net Profit at Rs 251 cr

-- Gross NPA at 11.45%, Rs 25,382 crore

-- Net NPA at Rs 12,481 cr

-- Provisions at Rs 634 cr
2:45 PM

NEWS ALERT | T Latha resigns as MD & CEO of Dhanlaxmi Bank

2:42 PM

Reliance Jio writes letter to the Telecom Minister

  • Urge govt not to accept COAI's representation as Industry's respresentation;
  • Affted cos can pay dues by monetising assets or issuing fresh equity shares;
  • Disagree with COAI's view that industry will collapse without relief package;
2:36 PM

SBI sees its biggest single-day gain in percentage terms in around a month

2:15 PM

Sector watch | Nifty PSU banks extend gains

2:03 PM

NEWS ALERT | Hong Kong govt says economy has entered a technical recession

2:01 PM

MARKET COMMENT | Naveen Kulkarni, HoR, Reliance Securities

Market is clearly in a positive setup with festive season seeing improvement in demand and corporate tax rate cut providing the much needed earnings boost. Considering there is likely sequential improvement and earnings visibility, we believe market will continue to trend upwards. We have a April 2020 Nifty target of 12,800.
 
 
 
1:54 PM

Tata Motors hits 5-month high, zooms 42% in four days on strong Q2 results

In Q2FY20, Tata Motors’s consolidated net loss narrowed to Rs 217 crore, from Rs 1,049 crore reported in the year-ago period, while net revenue dropped nine per cent to Rs 65,432 crore. Driven by an improvement in JLR’s operational metrics, earnings before interest, tax, depreciation and amortisation (Ebitda) in the quarter rose 250 basis points (bps) to 12.4 per cent, the highest in 16 quarters. READ MORE  
1:48 PM

YES Bank zooms 35% on $1.2 billion binding offer from global investor

Shares of YES Bank moved higher by 35 per cent to Rs 76.40 on the BSE on Thursday after the private sector lender said it has received a binding offer of US $1.2 billion from a global investor. “The bank has received a binding offer from a global investor for an investment of US $ 1.2 billion in the Bank through fresh issuance of equity shares, subject to regulatory approvals/conditions as well as Bank's board and shareholders approvals,” YES Bank said in a regulatory filing. READ MORE  

YES Bank makes two senior management appointments; stock rises 5.5%

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First Published: Oct 31 2019 | 7:11 AM IST

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