You are here: Home » Markets » News
Business Standard

Market Wrap, Oct 14: Here's all that happened in the markets today

BSE Sensex gained 169 points, or 0.42 per cent to end at 40,795 levels while the NSE's Nifty50 index ended at 11,971, up 37 points, or 0.31 per cent

Topics
MARKET WRAP

BS Web Team  |  New Delhi 

The Indian stock market witnessed a sharp recovery in the last hour of the session, supported by buying in financial counters.

Among the headline indices, the S&P BSE Sensex gained 169 points, or 0.42 per cent to end at 40,795 levels while the NSE's Nifty50 index ended at 11,971, up 37 points, or 0.31 per cent. India VIX slipped nearly 2.5 per cent to 20.21 levels.

ICICI Bank, HDFC and HDFC Bank contributed the most to the Sensex's gains.

In the broader market, the S&P BSE MidCap index gained 0.5 per cent while the S&P BSE SmallCap index ended 0.19 per cent lower.

Among sectoral indices on the NSE, Nifty Bank gained 1.63% while Nifty Financial Services index rallied 1.8%. On the other hand, Nifty IT slipped 1.3%.

In the earnings corner, IT major Infosys reported a 20.5 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 4,845 crore for the quarter ended September 30, 2020 (Q2FY21). The information technology (IT) services major had posted a profit of Rs 4,019 crore in the year-ago period. On a sequential basis, profit grew 14.45 per cent.

Among individual stocks, Shares of Tata Steel Long Products were locked in the 20 per cent upper circuit band at Rs 403 on the BSE after the company reported a consolidated net profit of Rs 59.06 crore in July-September quarter (Q2FY21). The company, formerly known as Tata Sponge Iron, had posted net loss of Rs 197 crore in the year-ago quarter.

Wipro ended nearly 7% lower on profit booking after the company reported a healthy July-September quarter (Q2FY21) results.

In the global markets

European shares held steady on Wednesday, underpinned by gains for Wall Street futures, following losses the day before on vaccine trials and a stimulus impasse, while the dollar was also stable.

Oil prices slipped as rising coronavirus cases stoked demand concerns.

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: Wed, October 14 2020. 17:42 IST
RECOMMENDED FOR YOU
.