Sensex gains 453 pts as UK, EU reach Brexit deal; Tata Motors jumps 13%
All that happened in markets today.
 "BSE Sensex")
Equity markets rallied on Thursday after UK President Boris Johnson said that Britain and the European Union had agreed a “great” new Brexit deal and urged lawmakers to approve it at the weekend.
The UK PM tweeted "We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment." CLICK TO READ REPORT
The UK PM tweeted "We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment." CLICK TO READ REPORT
Following the news, stocks such as Motherson Sumi, and Tata Motors jumped in the last few minutes of the trade. That apart, buying in financial counters, too, lifted markets higher.
The benchmark S&P BSE Sensex added 453 points or over 1 per cent to settle at 39,052 levels. YES Bank (up 15 per cent) emerged as the top gainer on the index while HCL Tech (down 1 per cent) the biggest laggard. On the NSE, the broader Nifty50 index ended at 11,586.35 levels, up 122 points or over 1 per cent.
In the broader market, mid-caps outperformed the headline indices. The S&P BSE MidCap index surged 247 points or around 2 per cent to end at 14,167 levels, while the S&P BSE SmallCap index gained 114 points or 0.89 per cent to end at 12,914 levels.
Sectorally, all the indices on the NSE but Nifty IT ended in the green. Auto counters advanced the most with the Nifty Auto index rising over 3 per cent to 7,914 levels. Nifty PSU Bank came second on the list with dot 3 per cent gains at 2,217 levels. Nifty IT, on the other hand, ended at 15,282 levels, down 0.41 per cent.
Emerging market stocks rose for the sixth straight session on Thursday. MSCI's index of emerging market stocks rose 0.3 per cent, in its longest winning streak since an 11-day run in April. Mainland China shares ended flat, while most others in Asia rose, along with those in Turkey and Russia.
MSCI's currency benchmark also firmed as the dollar hovered near one month lows after weak retail sales data dimmed outlook for the U.S. economy and raised bets for an interest rate cut.
(With inputs from Reuters)
(With inputs from Reuters)
4:11 PM
MARKET COMMENT :: Ajit Mishra, vice-president for research, Religare Broking
Markets continued their positive bias for yet another session and gained nearly 1%. The first half was dull, but a sharp surge in the banking index in the latter half pushed the benchmarks higher. Besides, the news of Brexit deal between the UK and European Union (EU) further boosted sentiment. All sectoral indices, barring IT, ended in green. Broader indices, too, posted decent gains.
Markets are currently dancing to the global tunes, in absence of any major event on the local front. Meanwhile, we’re seeing volatile swings on the stock-specific front which usually happens during the earnings season. We suggest not to get carried away with the recent surge and maintain positive yet cautious approach
4:04 PM
Tata Motors zooms 13% on the NSE
3:52 PM
Nifty snapshot
3:51 PM
YES Bank, HUL, SBI among top contributors to Sensex's gain
3:50 PM
Sensex heat map :: Tata Motors jumps 10% on Brexit deal
3:49 PM
Index watch : BSE
3:36 PM
CLOSING BELL
The S&P BSE Sensex settled at 39,052, up 453 points or over 1 per cent while NSE's Nifty50 added 122 points or over 1 per cent to end at 11,586.
3:25 PM
NEWS ALERT | UK PM Boris Johnson tweets on Brexit deal
3:22 PM
NEWS ALERT | Draft deal for Brexit done: UK PM tweets
3:09 PM
Index Contributors at this hour
Topics : Markets MARKET WRAP
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First Published: Oct 17 2019 | 7:25 AM IST