You are here: Home » Markets » News
Business Standard

Market Wrap, Oct 1: Here's all that happened in the markets today

BSE Sensex ended 629 points, or 1.65 per cent higher at 38,697 levels while the Nifty50 index topped the 11,400-mark to settle at 11,417, up 1.5 per cent

Topics
MARKET WRAP

BS Web Team  |  New Delhi 

After witnessing two flat sessions, the domestic stock market made a stellar comeback on Thursday with the benchmark indices ending over 1.5 per cent higher. The S&P BSE Sensex ended 629 points, or 1.65 per cent higher at 38,697 levels while the Nifty50 index topped the 11,400-mark to settle at 11,417, up 1.5 per cent.

IndusInd Bank ended as the top gainer on the Sensex while ITC emerged as the biggest loser.

Among individual stocks, shares of multiplex operators like Inox Leisure and PVR rallied up to 17 per cent on the BSE after the government allowed reopening of cinemas, theatres and multiplexes from October 15.

IndusInd Bank recorded its sharpest intra-day rally in over five months after the stock rallied 13 per cent to Rs 598 on the BSE on the back of heavy volumes. Earlier, on April 28, 2020, the stock of the private sector lender had zoomed 18 per cent in the intra-day trade.

Among the new listings, Shares of Chemcon Speciality Chemicals were frozen at 20 per cent lower circuit at Rs 584.80 on the BSE on Thursday after making a stellar debut at the bourses earlier in the day. The stock of the specialty chemicals company was listed at Rs 731, a 115 per cent premium against the issue price of Rs 340 per share on the BSE. On the other hand, CAMS settles at 14% premium over the issue price of Rs 1,230 apiece.

Meanwhile, India's factory activity expanded at its fastest pace in over eight years in September as a relaxation in coronavirus lockdown restrictions drove a surge in demand and output, a private survey showed on Thursday.

Global markets

European stocks rose on Thursday as Swedish retailer H&M and French-Italian chipmaker STMicroelectronics jumped after reporting forecast-beating results, while hopes of more US stimulus aided global sentiment.

In Japan, a hardware failure shut down trading on the Tokyo Stock Exchange in the worst outage ever suffered by the world’s third-largest stock market, which said it aimed to reopen on Friday.

In commodities, oil prices fell as rising coronavirus cases dampened the demand outlook. Gold, on the other hand, rose as an easing dollar and signs of progress in talks for fresh US stimulus measures bolstered the metal’s appeal.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 01 2020. 17:24 IST
RECOMMENDED FOR YOU
.