MARKET WRAP: Sensex rises 97 pts, Nifty settles at 10,348 as banks rally
Among sectoral indices, the Nifty Bank index settled 0.7 per cent higher led by a rise in YES Bank and State Bank of India (SBI).
 "BSE, NSE, Markets, SENSEX")
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The benchmark indices recovered sharply from their day's low to settle slightly higher on Monday led by a rise in the banking and OMC stocks.
The S&P BSE Sensex ended at 34,474, up 97 points, while the broader Nifty50 index settled at 10,348, up 32 points.
Among sectoral indices, the Nifty Bank index settled 0.7 per cent higher, led by a rise in YES Bank and State Bank of India (SBI). On the other hand, Nifty IT index fell 1.8 per cent led by fall in Tata Elxsi, Tata Consultancy Services (TCS) and Infosys.
During the day, the rupee slipped below the crucial 74 per dollar mark for the second time in two days hitting 74.09 against the greenback as the Reserve Bank of India (RBI) kept interest rates unchanged on Friday, surprising the markets that had expected a rate hike to support the tumbling rupee and combat inflationary pressures from high oil prices.
Shares of oil & gas and state-run oil marketing companies (OMCs) rose on Monday, after witnessing heavy sell-off in the last two trading sessions. Reliance Industries rose 5.5 per cent to Rs 1,108 on the BSE, while HPCL rose over 8 per cent to Rs 178.
The S&P BSE Sensex ended at 34,474, up 97 points, while the broader Nifty50 index settled at 10,348, up 32 points.
Among sectoral indices, the Nifty Bank index settled 0.7 per cent higher, led by a rise in YES Bank and State Bank of India (SBI). On the other hand, Nifty IT index fell 1.8 per cent led by fall in Tata Elxsi, Tata Consultancy Services (TCS) and Infosys.
During the day, the rupee slipped below the crucial 74 per dollar mark for the second time in two days hitting 74.09 against the greenback as the Reserve Bank of India (RBI) kept interest rates unchanged on Friday, surprising the markets that had expected a rate hike to support the tumbling rupee and combat inflationary pressures from high oil prices.
Shares of oil & gas and state-run oil marketing companies (OMCs) rose on Monday, after witnessing heavy sell-off in the last two trading sessions. Reliance Industries rose 5.5 per cent to Rs 1,108 on the BSE, while HPCL rose over 8 per cent to Rs 178.
Global Markets
Shares in Asia slumped Monday as China’s markets stumbled in their first trading day after a one-week holiday even though Beijing’s central bank increased liquidity to offset the impact of an escalating trade dispute with the United States. Asian shares were also hit on Monday as investors in Chinese stocks reacted for the first time to new pressure from Washington and a report that Chinese spies had compromised US hardware.
China’s blue-chip CSI300 index was 3.5 per cent lower while the main Shanghai Composite Index was down 2.9 per cent. The tech-heavy ChiNext board fell 3.08 per cent. The losses in China dragged down MSCI’s broadest index of Asia-Pacific shares outside Japan, which was 0.9 per cent lower.
(with wire inputs)
3:39 PM
Sectoral gainers and losers on NSE
3:37 PM
S&P BSE Sensex: Top gainers & losers
3:36 PM
Market at close
The S&P BSE Sensex closed 97 points higher at 34,474 while the broader NSE's Nifty50 index settled at 10,348, up 32 points.
3:16 PM
Gold fell on Monday as the dollar firmed after China's central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth.
Spot gold was down 0.6 per cent at $1,195.61 an ounce. US gold futures fell 0.5 per cent to $1,199.8 an ounce.
Gold slips as dollar gains after China eases policy
Gold fell on Monday as the dollar firmed after China's central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth.
Spot gold was down 0.6 per cent at $1,195.61 an ounce. US gold futures fell 0.5 per cent to $1,199.8 an ounce.
2:59 PM
Time to increase gold allocation in your portfolio this Dussehra
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2:44 PM
NBFCs slip as RBI plans to strengthen norms; Edelweiss Financial cracks 13%
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The exchange rate is the shock absorber
Foreign capital inflows finance the gap between investment and savings. The exchange rate is the price that adjusts to ensure that the capital inflow is exactly as large as is required. An important part of the capital flows into India is debt flows.
When the perceived credit risk of borrowing entities worsens, overseas debt investors become uncomfortable, and there is a shortfall of inbound capital. Rupee depreciation makes Indian assets more attractive, and compensates for deterioration in domestic credit quality. READ MORE
2:14 PM
RBI gives nod for True North to pick up 26% stake in Federal Bank's NBFC
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2:01 PM
Market Check
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 34,245.89 | -131.10 | -0.38 |
| S&P BSE SENSEX 50 | 10,761.43 | -37.49 | -0.35 |
| S&P BSE SENSEX Next 50 | 29,723.81 | -369.32 | -1.23 |
| S&P BSE 100 | 10,488.35 | -50.14 | -0.48 |
| S&P BSE Bharat 22 Index | 3,213.44 | -33.96 | -1.05 |
(Source: BSE)
1:42 PM
DHFL skids over 16 percent
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First Published: Oct 08 2018 | 8:15 AM IST