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MARKET WRAP: Sensex gains 170 pts as financials gain; Nifty50 tops 11,850

All that happened in markets today.

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Sensex, Nifty fall amid hike in crude oil price, deficient monsoons
Benchmark indices ended Thursday's volatile session in the positive territory amid buying in select blue-chip counters such as ICICI Bank, HDFC Bank, Infosys, HDFC, and TCS (Tata Consultancy Services). Investor sentiment remained subdued after retail inflation in October breached RBI's medium-term target of 4 per cent for the first time in 15 months. That apart, worries over telecom players, too, kept investors cautious. 

The S&P BSE Sensex gained 170 points or 0.42 per cent to end at 40,286 with ICICI Bank (up around 3 per cent) being the top gainer and Vedanta (down around 3 per cent) the biggest loser. During the day, the index witnessed a swing of around 322 points.

In the broader market, the S&P BSE MidCap index added 20 points or 0.14 per cent end at 14,680 while the S&P BSE SmallCap index ended at 13,344, down 0.01 per cent. 

On the NSE, the broader Nifty50 index ended at 11,870, up 30 points or 0.25 per cent. 

Sectorally, metal stocks cracked the most with the Nifty Metal index closing around 2 per cent lower at 2,508 levels. On the flip side, financial services stocks rallied the most. Nifty Bank gained over 0.7 per cent to settle at 30,764 levels.  

Volatility index India VIX slipped around 6 per cent to 15.50 levels.

BUZZING STOCKS

Shares of telecom services providers Vodafone Idea and Bharti Airtel were under pressure, plunging up to 22 per cent on the BSE on Thursday on report that the government has directed the telcos to clear their adjusted gross revenue (AGR) dues in 3 months. READ MORE

Shares of Bata India, the leading footwear retailer, climbed as much as 5.45 per cent to Rs 1,775.65 apiece on the BSE after the company posted a 29.96 per cent increase in consolidated net profit at Rs 71.30 crore for the September quarter. It had posted a net profit of Rs 54.86 crore in the July-September quarter a year ago, Bata India said in a BSE filing. The stock ended at Rs 1710 apiece, up 1.56 per cent. READ MORE

SpiceJet tumbled up to 7 per cent at Rs 105.8 on the BSE on Thursday after the budget carrier's loss widened in the September quarter at Rs 462 crore on the back of higher costs during a seasonally weak quarter.  The stock ended nearly 6 per cent lower at Rs 107 apiece on the BSE. READ MORE   

GLOBAL MARKETS

World stocks nudged down on Thursday as Chinese economic data slowed in October and Germany only narrowly avoided a recession in the third quarter, adding to worries about the global growth fallout from the US-China trade war. In Asia, stocks fell after soft economic data in China and Japan showed the trade war between Beijing and 

Washington was hitting growth in some of the world’s biggest economies.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Japan's Nikkei stock index fell further, dropping 0.8 per cent. Hong Kong's Hang Seng fell 0.8 per cent to a fresh one-month low.

In commodities, Brent crude futures rose 0.74 per cent to $62.83 a barrel while US West Texas Intermediate (WTI) crude gained 0.77 per cent to $57.56 per barrel.

(With inputs from Reuters)

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