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Indices hit day's high

Capital Market 

Barometers further extended gains and hit day's high in mid-afternoon trade. At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 240.55 points or 0.62% at 39,284.25. The Nifty 50 index added 75.15 points or 0.65% at 11,596.95.

The broader market lagged benchmarks. The S&P BSE Mid-Cap index gained 0.1% while the S&P BSE Small-Cap index rose 0.25%.

The market breadth was positive. On the BSE, 1362 shares rose and 1287 shares fell. A total of 200 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 29,479,686 with 9,33,542 deaths. India reported 9,95,933 active cases of COVID-19 infection and 82,066 deaths while 39,42,360 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.


India's exports slipped 12.66% to $22.7 billion in August, on account of decline in the shipments of petroleum, leather, engineering goods and gems and jewellery items, according to the government data released on 15 September 2020.

The country's imports too declined 26% to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last year, as per the data.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee edged higher to 73.52 compared with its previous closing 73.6450.

The yield on 10-year benchmark federal paper fell to 5.995% compared with previous closing of 6.029% in the previous trading session.

MCX Gold futures for 5 October 2020 settlement rose 0.37% to Rs 51,962.

In the commodities market, Brent crude for November 2020 settlement rose 98 cents to $41.51 a barrel. The contract rose 2.32% to settle at $40.53 in the previous trading sessions on Tuesday.

Buzzing Index:

The Nifty Media index tumbled 1.6% to 1,625.45, falling for second trading session. The index has lost 2% in two days.

Dish TV (down 4.21%), SUN TV (down 3.37%), TV 18 Broadcast (down 2.38%), PVR (down 1.56%), TV Today (down 1.33%) and Zee Entertainment (down 0.99%) were top losers in Nifty Meda index.

Stocks in Spotlight:

Vedanta rose 2.63% after the company reportedly won a case in the Supreme Court pertaining to a $499 million international arbitral award, which was challenged by the government. The Centre had moved the Supreme Court challenging the decision of the Delhi High Court which allowed Vedanta (erstwhile Cairn India) and Videocon Industries to recover $499 million instead of $198 million capped by the government for development of Ravva oil and gas fields in the state of Rajasthan.

TCS fell 0.04%. Coop Sweden has expanded strategic partnership with TCS to realize its long-term transformation goals. Over the next two years, TCS will closely collaborate with Coop to transform several key business areas across the retailer's network, including finance, logistics and procurement; category management, pricing, campaigns, and store operations; and master data and analytics.

REC fell 0.32%. The board of directors of REC approved infusion of Rs 150 crore as equity in a company, proposed to be promoted as joint venture along with three other Central Public Sector Enterprises (CPSEs) i.e. Power Finance Corporation, Power Grid Corporation of India and NTPC, for the purpose of establishment/ creation of common backend infrastructure facility (CBIF) for smart meters in the country.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, September 16 2020. 14:23 IST