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

According to the new norms, multi-cap funds must invest 25 per cent each in small, mid, and large-cap stocks

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MARKET WRAP

BS Web Team  |  New Delhi 

Erasing their intra-day gains, the benchmark indices ended in the negative territory on Monday due to selling in blue-chip counters such as HDFC Bank, HDFC, Reliance Industries (RIL), ICICI Bank, and Bharti Airtel. The broader market, however, outperformed after market regulator Securities and Exchange Board of India (Sebi) tweaked the asset allocation norms for Multi-Cap Funds.

According to the new norms, multi-cap funds must invest 25 per cent each in small, mid, and large-cap stocks.

The S&P BSE Sensex today ended 98 points, or 0.25 per cent to settle at 38,757 levels with Bharti Airtel (down over 3 per cent) being the top loser and HCL Tech (up 10 per cent) the biggest gainer. During the day, the index hit a high of 39,230.16.

NSE's Nifty ended at 11,440, down 24 points, or 0.21 per cent. India VIX gained nearly 3.5 per cent to 21.42 levels.

On the contrary, the S&P MidCap index gained 1.56 per cent to 14,888 levels while the S&P BSE SmallCap index ended 4 per cent higher at 15,145 levels.

On the sectoral front, IT stocks continued to rally. The Nifty IT index climbed 4.5 per cent to 19,460 levels with all the 10 constituents advancing. HCL Tech ended 10 per cent higher at Rs 793.70 on the BSE after the company said it expects the revenue and the operating margin for the July-September quarter (Q2FY21) to be meaningfully better than the top end of the guidance it had provided in July 2020.

Nifty Realty index ended nearly 4 per cent higher at 223 levels. On the other hand, Nifty Bank slipped the most - 1.77 per cent to 22,081 levels.

First Published: Mon, September 14 2020. 17:05 IST
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