Market Wrap, Nov 2: Here's all that happened in the markets today
BSE Sensex ended 144 points, or 0.36 per cent, higher at 39,758 levels, while the broader Nifty50 index ended the day 27 points higher at 11,669 levels
BS Web Team New Delhi
 "BSE, sensex, market, shares, stocks, trading, brokers, investment, investors, growth, results, Q, earnings")
The Indian equity markets closed marginally higher in Monday's volatile session during which steep losses in Reliance Industries were nursed by gains in financial stocks.
The benchmark S&P BSE Sensex ended 144 points, or 0.36 per cent, higher at 39,758 levels, while the broader Nifty50 index ended the day 27 points higher at 11,669 levels.
The stock of Reliance Industries tanked over 9 per cent in the intra-day trade to hit a low of Rs 1,860 on the BSE after its consolidated net profit declined 15 per cent to Rs 9,567 crore in the September quarter of FY21. Foreign brokerage Macquarie sees no growth triggers for the stock and has maintained its ‘underperform’ rating on the stock with a target price of Rs 1,195. The stock ended 8.6 per cent lower at Rs 1,877 today, lowest since July 17.
Financial stocks, however, made up for the losses due to RIL. Stocks of IndusInd Bank and ICICI Bank ended 7 per cent and 6 per cent higher, respectively after the lenders reported better-than-expected Q2 results.
That apart, housing financier HDFC leaped 7 per cent in the intra-day trade today to hit a high of Rs 2,065 on the BSE, after its standalone net profit slipped 28 per cent to Rs 2,870 crore, less than Street's expectations of over 50 per cent decline, supported by gain from stake sale HDFC Life during September quarter. The stock settled 6 per cent higher.
Also Read
Meanwhile, Equitas Small Finance Bank made a weak debut at the bourses on Monday, getting listed at Rs 31 per share, a 6 per cent discount against the issue price of Rs 33 per share. The stock eventually ended at Rs 32.75 apiece on the BSE.
On the sectoral front, Nifty Bank index marched ahead and closed 992 points, or 4.15 per cent, higher on the NSE. Nifty IT index, on the other hand, slipped 0.88 per cent.
In the broader market, the S&P BSE MidCap index closed up 0.36 per cent while the SmallCap index tumbled 0.7 per cent.
Global markets
World shares recovered from one-month lows on Monday as upbeat Chinese data offset fears due to new lockdowns in Europe. MSCI world equity index rose 0.2 per cent, while FTSE EuroFisrt 300 index was last up over 1 per cent.
More From This Section
Topics :MARKET WRAP
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 02 2020 | 5:28 PM IST
