Market Wrap, Oct 25: Sensex closes at 39,058, gains 12% in Samvat 2075

Headlines of the day:

>> Market ends on a flat note, Sensex gains 11.6% in Samvat 2075; 

>> SBI Q2 profit jumps 3-fold to Rs 3,012 crore; stock jumps 7%;

>> ICICI Bank hits new high, m-cap surpasses 3 trn-mark; &

>> Piramal Enterprises to raise Rs 5,400 cr via rights, preferential allotment

Now, the news in detail - 

Benchmark indices ended little changed on Friday; however banking stocks had a field day with the State Bank of India (SBI) jumping over 7 per cent (Rs 282) on 3-fold jump in its net profit at Rs 3,012 crore for the September quarter.

YES Bank, too, rallied around 8 per cent to Rs 52 apiece on the BSE. 

The S&P BSE Sensex added 38 points or 0.10 per cent to end the Samvat 2075 at 39,058 levels. The NSE's Nifty50 index ended at 11,584, up just 1 point or 0.01 per cent. 

In the broader market, the S&P BSE MidCap index ended at 14,342, up around 3 points or 0.02 per cent while the S&P BSE SmallCap index lost 51 points or 0.39 per cent to close at 13,153.

Among other buzzing stocks, ICICI Bank hit a new high of Rs 470.70 apiece on the BSE during the session with the market capitalisation (m-cap) surpassing Rs 3 trillion-mark. 

On the other hand, Piramal Enterprises tanked 17 in the afternoon deals on the BSE after the company announced capital-raising plan. The stock eventually settled at Rs 1,590 apiece, down around 8 per cent. 

Volatiity index India VIX slipped around 6 per cent to 15.30 levels.

Among the sectoral indices on the NSE, PSU bank stocks advanced the most, followed by IT counters. The Nifty PSU Bank index gained 3.38 per cent to end at 2,300 levels. Nifty Bank rallied 1 per cent to 29,396-mark.

How markets fared in Samvat 2075:

Benchmark Sensex has logged 11 per cent gain in Samvat 2075. The Midcap and Smallcap indices, however, fell 7 per cent and 10 per cent respectively. The year saw sharp volatility with benchmark indices scaling new highs post the re-election of the Modi government.

During Samvat 2075, the S&P BSE Sensex and the Nifty50 indices crossed the 40,000 and 12,000 levels respectively for the first time ever. However, economic slowdown, corporate defaults and stress in the financial sector saw the indices plunge. 

In the global markets, geopolitical tensions, muted economic data and mixed earnings stymied global stocks and weighed on crude oil prices on Friday with sterling hovering just above one week lows amid a new bout of Brexit anxiety. European stock markets opened broadly softer and the US futures pointed to a flat open on Wall Street. In Asia, Japan's Nikkei finished up 0.2 per cent and Chinese blue-chips gained 0.6 per cent while Hong Kong's Hang Seng fell 0.28 per cent. 

In commodities, oil prices fell on the day but were on track for strong weekly gains.