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MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Nifty IT index settled 4.2 per cent higher led by gains in Tech Mahindra and Infosys. The Nifty Financial Services index too rose 2.3 per cent led by Indiabulls Housing Finance and HDFC

SI Reporter  |  New Delhi 

The benchmark indices erased their day's losses and settled over 1.5 per cent higher after the finance ministry said that the autonomy of the Reserve Bank of India (RBI) was "essential", in an attempt to dampen a spat between the government and the central bank. The S&P BSE Sensex ended at 34,442, up 551 points (1.6 per cent), while the broader Nifty50 index settled at 10,387, up 188 points(1.9 per cent). Among the sectoral indices, Nifty IT index settled 4.2 per cent higher led by gains in Tech Mahindra and Infosys. The Nifty Financial Services index, ...

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MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Top sectoral gainers & losers on NSE

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

S&P BSE Sensex: Top gainers & losers

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Market At Close   The S&P BSE Sensex jumped 551 points or 1.63 per cent tp settle at 34,442 while NSE's Nifty50 index reclaimed the crucial 10,350 level to end at 10,387, up 188 points or 1.85 per cent. 

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Dabur India's Q2 net profit jumps 4% to Rs 3.7 bn, income up 8% to Rs 22 bn FMCG major Dabur India Wednesday reported a 4.10 per cent increase in consolidated net profit at Rs 3.77 billion for the second quarter ended September, 2018 helped by growth of the core business in the domestic market.   The company had posted a net profit of Rs 3.62 billion in the July-September quarter a-year-ago, Dabur India said in a BSE filing. READ MORE

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Financial stocks in focus; PNB Housing, DHFL, HDFC up over 5% Shares of financial stocks including banks, housing finance and non-banking finance companies were in focus, rallying up to 12% on the bourses in intra-day trade erasing their entire early morning losses. Nifty Financial Services and Nifty PSU Bank indices were up 2% each as compared to 1.4% rise in the Nifty 50 index. Nifty Bank and Nifty Private Bank were up 1% each on the NSE. READ MORE

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Oil rises 1 per cent ahead of Iran sanctions   Oil prices climbed for the first time in three days on Wednesday, rising around 1 per cent ahead of the start of U.S. sanctions against Iran next week and as stock markets clawed back some of the losses they racked up this month.    Brent crude futures had gained 83 cents, or 1.1 per cent, to $76.74 a barrel. They fell 1.8 per cent on Tuesday, at one point touching their lowest since Aug. 24 at $75.09 a barrel.   U.S. West Texas Intermediate (WTI) crude futures advanced 55 cents, or 0.9 per cent, to $66.73 a barrel on Wednesday. They dropped 1.3 per cent the day before, after hitting their lowest since Aug. 17 at $65.33 a barrel.

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Shares of housing finance companies have risen

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

S&P BSE Sensex top gainers and losers

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

NEWS ALERT: PNB Housing Finance raises Rs 24.50 billion through commercial papers, stock jumps 10%

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

RBI Governor Urjit Patel may not resign, calls board meeting on Nov 19 RBI Governor Urjit Patel may not resign as he has called a board meeting on November 19 to discuss the pending issues, which created a rift between the government and the central bank, in the previous meeting held last week.   Meanwhile, the finance ministry said on Wednesday that it respects the central bank's autonomy. READ MORE

MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

BS Primer: What is liquidity and why does it matter? Liquidity explains the extent to which an asset can be converted into cash without significant loss of value. You may perceive it as an ability to realise the maximum value of an asset by purchase or sale without impacting the price of the asset. From an investment point of view, liquidity relates to the ease with which an asset can be bought or sold to meet the urgent need of cash. Read more

First Published: Wed, October 31 2018. 08:12 IST
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MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Nifty IT index settled 4.2 per cent higher led by gains in Tech Mahindra and Infosys. The Nifty Financial Services index too rose 2.3 per cent led by Indiabulls Housing Finance and HDFC

The benchmark indices erased their day's losses and settled over 1.5 per cent higher after the finance ministry said that the autonomy of the Reserve Bank of India (RBI) was "essential", in an attempt to dampen a spat between the government and the central bank. The S&P BSE Sensex ended at 34,442, up 551 points (1.6 per cent), while the broader Nifty50 index settled at 10,387, up 188 points(1.9 per cent). Among the sectoral indices, Nifty IT index settled 4.2 per cent higher led by gains in Tech Mahindra and Infosys. The Nifty Financial Services index, ...

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