Sensex slips 477 pts from day's high, ends at 37,663; Tata Steel gains 6%
All that happened in the markets today
 "Markets continue to rally on RBI policy fillip; Sensex rises 164 points")
NSE's Nifty settled at 11,102, up 6 points or 0.058 per cent.
After starting on a strong note, the domestic stock market turned highly volatile in the intra-day session and ended flat on Wednesday, weighed down by blue-chips such as Reliance Industries (RIL), HDFC Bank, and Infosys.
The S&P BSE Sensex today ended 25 points or 0.07 per cent lower at 37,663 levels while NSE's Nifty settled at 11,102, up 6 points or 0.06 per cent. Of Sensex's 30 constituents, 19 advanced while 11 declined. Volatility index, India VIX, dropped over 1 per cent to 23.5 levels.
On the sectoral front, metal stocks rallied the most. The Nifty Metal index jumped over 4 per cent to 2,269 levels with 13 out of 15 constituents advancing and the rest two ending in the red. READ MORE
In the broader market, the S&P BSE MidCap index ended 0.39 per cent higher at 13,910 levels while the S&P BSE SmallCap index ended at 13,430, up 0.85 per cent.
On the sectoral front, metal stocks rallied the most. The Nifty Metal index jumped over 4 per cent to 2,269 levels with 13 out of 15 constituents advancing and the rest two ending in the red. READ MORE
In the broader market, the S&P BSE MidCap index ended 0.39 per cent higher at 13,910 levels while the S&P BSE SmallCap index ended at 13,430, up 0.85 per cent.
Among individual stocks, SPARC settled nearly 7 per cent higher at Rs 186.50 on the BSE after the company declared healthy June quarter results on Tuesday. The company's net profit in Q1FY21 came in at Rs 56.69 crore, compared with a loss of Rs 94.19 crore in the year-ago quarter. READ MORE
PI Industries gained over 3.5 per cent to Rs 1,896.20 on the BSE after the company reported a strong set of numbers for the first quarter of the financial year 2020-21 (FY21). The stock hit an all-time high of Rs 1,966 during the session. READ MORE
Global markets
European stocks opened higher, aided by a batch of positive earnings. US equity futures rose too, indicating a firm open for Wall Street, while MSCI’s broadest index of Asia Pacific shares outside of Japan rose 0.7 per cent to a 6-1/2 month peak.
In Asia, Japan's Nikkei dipped 0.26 per cent and Australia's benchmark index slipped 0.6 per cent, notable underperformers in otherwise generally upbeat Asian stock markets. South Korea's Kospi hit its highest level since October 2018.
In commodities, Gold scaled an all-time peak, after topping the $2,000 mark in the previous session, spurred on by a weaker dollar, falling US Treasury yields and expectations of more stimulus measures to revive a pandemic-ravaged economy.
Oil prices, too, firmed after data showed a big drop in US crude inventories.
(With inputs from Reuters)
3:52 PM
Market Closing Comment :: Vinod Nair, Head of Research at Geojit Financial Services
Indian benchmark indices were volatile in trade before closing flat with a positive bias. Global cues were also positive while gold again jumped to record highs. Positive earnings reports are driving stocks and markets around the world, and the same trend is visible in the Indian markets too. Liquidity is a major driver for the markets and it is chasing companies which are declaring stable earnings or outlook. Uncertainties remain while in the near term markets will look forward to the commentary and RBI actions at the end of the MPC meeting tomorrow
3:46 PM
Market Statistics at Close
3:45 PM
Sector loser :: 6 out of 10 Nifty pharma index-constituents end in the red
3:44 PM
Sector gainer :: Nifty metal index ends over 4% higher
3:42 PM
Sectoral trends on NSE at Close
3:41 PM
Sensex Heatmap at Close
3:37 PM
Closing Bell | Markets end mixed after a volatile day
>> The benchmark S&P BSE Sensex ended 24 points, or 0.07 per cent, lower at 37,663 level
>> The broader Nifty50, meanwhile, added 6 points, or 0.04 per cent, to close at 11,101 level.
>> The broader Nifty50, meanwhile, added 6 points, or 0.04 per cent, to close at 11,101 level.
3:25 PM
Airtel ties up with Amazon to sell AWS solutions to companies in India
Airtel Cloud will build an AWS Cloud Practice supported by AWS Professional Services, as well as develop differentiated Airtel Cloud products and capabilities leveraging AWS services, Airtel’s data centre capabilities, and Airtel’s network and telecoms offerings. Airtel customers will benefit from an integrated sales, consulting, and support approach from both companies, and improved security, scalability, and cloud management capabilities. READ MORE
3:17 PM
A white knight galvanises Eveready as it struggles amid debt problems
Brij Mohan Khaitan stepped into the elite world of tea as a white knight when in 1961, a Marwari businessman, B Bajoria, had cornered a 25 per cent stake in Bishnauth, part of one of India’s top managing agency firms, Williamson Magor & Company. The shareholding was just a per cent short of the 26 per cent promoter holding. READ MORE
3:06 PM
Looking for a second home? UK, Spain among top destinations: Knight Frank
One in four people surveyed by Knight Frank, said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic, with most respondents seeking a different property in the same location (40 per cent). Around 26 per cent said they are willing to move to a different property elsewhere in the same country and 34 per cent of those considering a move are scouting for a purchase abroad (9 per cent of all respondents), the survey findings suggest. READ MORE
Topics : Markets Sensex Nifty RIL Axis Bank MARKET WRAP
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First Published: Aug 05 2020 | 7:46 AM IST