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MARKET WRAP: Sensex up 38 pts as banks rally, gains 11.6% in Samvat 2075

All that happened in markets today.

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Mutual funds drive markets to lifetime highs
Benchmark indices ended little changed on Friday; however banking stocks had a field day with the State Bank of India (SBI) jumping over 7 per cent (Rs 282) on 3-fold jump in its net profit at Rs 3,012 crore for the September quarter. READ MORE

YES Bank, too, rallied around 8 per cent to Rs 52 apiece on the BSE. 

The S&P BSE Sensex added 38 points or 0.10 per cent to end the Samvat 2075 at 39,058 levels. The NSE's Nifty50 index ended at 11,584, up just 1 point or 0.01 per cent. 

In the broader market, the S&P BSE MidCap index ended at 14,342, up around 3 points or 0.02 per cent while the S&P BSE SmallCap index lost 51 points or 0.39 per cent to close at 13,153.

Among other buzzing stocks, ICICI Bank hit a new high of Rs 470.70 apiece on the BSE during the session with the market capitalisation (m-cap) surpassing Rs 3 trillion-mark. 

On the other hand, Piramal Enterprises tanked 17 in the afternoon deals on the BSE after the company announced capital-raising plan. The stock eventually settled at Rs 1,590 apiece, down around 8 per cent. 

Volatiity index India VIX slipped around 6 per cent to 15.30 levels.

Among the sectoral indices on the NSE, PSU bank stocks advanced the most, followed by IT counters. The Nifty PSU Bank index gained 3.38 per cent to end at 2,300 levels. Nifty Bank rallied 1 per cent to 29,396-mark. 

GLOBAL MARKETS

Geopolitical tensions, muted economic data and mixed earnings stymied global stocks and weighed on crude oil prices on Friday with sterling hovering just above one week lows amid a new bout of Brexit anxiety. European stock opened broadly softer and the US futures pointed to a flat open on Wall Street. In Asia, Japan's Nikkei finished up 0.2 per cent and Chinese blue-chips gained 0.6 per cent while Hong Kong's Hang Seng fell 0.28 per cent. 

In commodities, oil prices fell on the day but were on track for strong weekly gains. 


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