F&O Expiry: Sensex climbs 396 pts, Nifty ends at 11,573; Vedanta jumps 7%
All that happened in markets today.
 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (")
After a two-day consolidation, equity market staged a smart rebound on Thursday to end the last day of the September series of futures & options (F&O) contracts on a positive note. Across-the-board buying and hopes of US-China trade truce after US President Donald Trump said on Wednesday a deal to end a nearly 15-month trade war with China “could happen sooner”, boosted investor sentiment.
The S&P BSE Sensex climbed 396 points or 1.03 per cent to end at 38,989.74, with Vedanta (up 7 per cent) being the top gainer and YES Bank (down 5 per cent) the biggest loser. Out of 30 constituents, 23 ended in the green and rest seven in the red.
In the broader market, the S&P BSE MidCap gained 131 points or 0.92 per cent to close at 14,355.70 levels and the S&P BSE SmallCap index settled at 13,440.49, up 57 points or 0.42 per cent.
On NSE, the broader Nifty50 index settled at 11,573.30, up 133 points or 1.22 per cent, with 41 constituents advancing and 9 ending in the red.
Among the sectoral indices on the NSE, barring IT, all the indices settled in the positive zone. Metal stocks rallied the most, followed by realty and auto stocks. The Nifty Metal index gained 4.32 per cent to end at 2,525. On the other hand, Nifty IT index ended at 15,317, down 0.29 per cent.
BUZZING STOCKS
ICICI Bank’s market capitalisation (m-cap) inched towards Rs 3 trillion-mark as the stock of the private sector lender hit a new high of Rs 458, up 6 per cent on the BSE in the intra-day deals on Thursday. The stock closed at Rs 452, up 4 per cent.
Shares of YES Bank dipped 5 per cent on the BSE to hit a six-year low of Rs 50.85 on Thursday despite the private sector lender assuring investors that it was on course to raise growth capital. The scrip ended 5 per cent lower at Rs 51 apiece. READ MORE
Shares of Bharat Petroleum Corporation Limited (BPCL) gained for the fifth straight day, on reports that the government was considering selling its stake to a global oil company. During the session, it traded at its highest level since February 2018. At close, shares of the company stood at Rs 480, up over 3 per cent. READ MORE
GLOBAL MARKETS
Asian stocks pared gains on Thursday and safe-haven assets rose as optimism for a quick resolution to the US-China trade war faded. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent. Japan’s Nikkei slid 0.12 per cent. The pan-region Euro Stoxx 50 futures were down 0.09 per cent, German DAX futures were down 0.02 per cent, while FTSE futures fell 0.03 per cent. US stock futures fell 0.18 per cent on Thursday, following a 0.62 per cent increase in the S&P 500 on Wednesday.
(With inputs from Reuters)
3:45 PM
MARKET COMMENT :: Rahul Mishra, AVP (Derivatives), Emkay Global
NIFTY started September month around 10,800 and was struggling to cross the 11,000 resistance, as the initial stimulus from the FM did not help improve investor’s sentiment. The index is currently trading above the 50-and 200-DMA.
We believe 11,300 will be the support level for the NIfty, and it will face resistance at 11,600. From derivative point of view, FIIs have doubled their position in Index futures during the month so far. The monthly options data suggests a range of 11,000-11500 for October. However, 12000 Call holds decent open interest, making it the next resistance level that the index will face.
We believe 11,300 will be the support level for the NIfty, and it will face resistance at 11,600. From derivative point of view, FIIs have doubled their position in Index futures during the month so far. The monthly options data suggests a range of 11,000-11500 for October. However, 12000 Call holds decent open interest, making it the next resistance level that the index will face.
3:41 PM
Top contributors to Sensex's gain today
3:40 PM
REALTY STOCKS: Godrej Properties rallies over 8%
3:39 PM
M&M, TVS Motor top gainers in auto sector; MRF sole loser
3:38 PM
Auto, realty stocks gain
3:37 PM
Sensex heat map
3:34 PM
CLOSING BELL
The S&P BSE Sensex surged 396 points or 1.03 per cent to settle at 38,989.74 while NSE's Nifty50 index ended at 11,573.30, up 133 points or 1.22 per cent.
3:20 PM
NEWS ALERT | PMC Bank MD Joy Thomas suspended: CNBC-TV18
2:54 PM
NEWS ALERT | Divestment of state-run companies is the top priority for the next 3-4 years: DIPAM official to CNBC TV18
-- Official says current Govt strongly in favour of privatisation
-- Restricted divestment via OFS last FY due to market volatility
-- Restricted divestment via OFS last FY due to market volatility
2:50 PM
Market check
2:41 PM
ICICI Securities initiatives coverage on KNR Constructions
KNR Constructions (KNR) is a leading road-focused EPC player with over two decades of experience and a reputation for completing projects on time/ahead of schedule. With a strong orderbook of Rs 6,519 crore and rapid execution of captive hybrid annuity model (HAM) projects and large ticket irrigation projects, it is well on track to achieve 19 per cent CAGR in revenues to Rs 3,031.1 crore in FY19-21E. We also like KNR’s focus on monetising its under construction HAM projects (Cube Highway deal for four HAM projects at 1.8x P/BV). Considering strong execution and better EBITDA margins with best in class WC cycle and healthy balance sheet, we initiate coverage on KNR with a BUY rating on the stock and SoTP target price of Rs 300/share.
2:40 PM
NEWS ALERT | Sadbhav Infra arm gets concession period from Maha govt; stock down over 6%
2:20 PM
5.1% equity of ICICI Lombard gets exchanged; stock up 4%
2:15 PM
Financials rally up to 7% on report govt could notify NBFC resolution rules
Under the process, the government is likely to introduce a special window under section 227 of the Insolvency and Bankruptcy Code (IBC), which would give "special dispensation" on who could initiate the resolution process, on moratorium, and to resolution professional, business channel CNBC TV-18 reported. READ MORE
2:04 PM
FM to discuss external benchmarking of loan, MSME credit with private banks
When Finance Minister Nirmala Sitharaman meets top management of private banks and financial institutions on Thursday, she might discuss external benchmarking of retail loans as mandated by the Reserve Bank of India (RBI) from October 1, and how banks were spreading awareness among customers about the move. The meeting will begin at 5:30 pm.
Concerned over poor transmission of interest rates by banks, the RBI had earlier this month mandated that all banks will have to link retail loans with an external benchmark, such as the repo rate. All lenders are supposed to introduce such products by October 1. READ MORE
Topics : Markets F&O series MARKET WRAP
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First Published: Sep 26 2019 | 7:23 AM IST
