MARKET WRAP: Sensex surges 449 points on buying in financial, FMCG counters

All that happened in the markets today

The domestic stock market ended around one per cent higher on Monday on the back of gains in financial and FMCG stocks. Positive global cues also boosted investor sentiment.

Among headline indices, the S&P BSE Sensex settled 449 points, or 1 per cent higher at 40,432 levels and the Nifty50 index topped the 11,850-mark to settle at 11,873, up 111 points, or 0.94 per cent. ICICI Bank (up 5 per cent) ended as the biggest gainer on Sensex while Bajaj Auto (down nearly 2 per cent) was the biggest loser. 

In the broader market, the S&P BSE MidCap index ended at 14,706, up 0.58 per cent while the S&P BSE SmallCap index ended at 14,851, up 0.43 per cent. 

Global markets

European stocks rallied on Monday as rising hopes of a coronavirus vaccine by the end of the year and a US fiscal package before elections offset concern over record daily infections in the region. 

Wall Street futures rose 0.9 per cent.

In commodities, oil prices fell as concerns over surging coronavirus cases globally dampened the prospects for demand recovery while China’s third-quarter economic growth was weaker than expected.

(With inputs from Reuters)

3:44 PM

SECTOR WATCH | Nifty Bank gains over 3%

3:43 PM

MARKET AT CLOSE | Gainers and losers on the BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 449 points, or 1.12 per cent to settle at 40,432 levels while the NSE's Nifty50 index ended at 11,873, up 111 points, or 0.94 per cent.

3:29 PM

MARKET CHECK

3:23 PM

FM asks 14 CPSEs to spend 75% of Rs 1.15 trillion capex by December end

Finance Minister Nirmala Sitharaman on Monday asked officials to ensure that 14 state-owned companies spend 75 per cent of their capital outlay for the year by the end of December. This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the pandemic. READ MORE 

 

3:14 PM

BSE PSU index surges 2.5%

3:05 PM

Amber Enterprises zooms 28% in 2 days after govt ban on import of ACs with refrigerants

Shares of Amber Enterprises India rallied 17 per cent to Rs 2,545 on the BSE on Monday, zooming 28 per cent in two days after the government banned the import of air conditioners with refrigerants. The consumer electronics company's stock was trading at its fresh record high level. READ MORE  

3:00 PM

Index contributors at this hour

2:51 PM

Sept Quarter Result | CSB Bank's Q2 net profit grow to Rs 68.9 cr from Rs 24.7 cr YoY

>> NII improves 55% YoY to Rs 229.3 cr from Rs 147.1 cr

>> Gross NPA reduces to 3.04% Vs 3.15% QoQ

>> Net NPA at 1.30% vs 1.74% QoQ

2:47 PM

Q&A :: We've increased cash in portfolio to guard against event risks, says J Jaipuria

Though increased restrictions in Europe and the pending outcome of the US presidential election will keep the markets choppy, JYOTIVARDHAN JAIPURIA, founder of Valentis Advisors, tells Puneet Wadhwa the markets will see positive returns in the second half of the financial year and the year after.  READ FULL INTERVIEW HERE

Jyotivardhan Jaipuria, Founder and managing director, Valentis Advisors

2:41 PM

MARKET CHECK | Sensex trades over 1% higher

2:32 PM

HUL Q2 preview: Revenue may rise up to 19% YoY on GSK Consumer acquisition

Hindustan Unilever (HUL), the fast-moving consumer goods (FMCG) bellwether, is slated to announce its September quarter results (Q2FY21) on Tuesday, October 20. In the FMCG sector, analysts expect a strong recovery in both essentials and discretionary categories. However, products focused on premium price and out-of-home consumption will continue to face growth headwinds, they say. READ MORE 

2:24 PM

Bharti Airtel hits seven-month low in a strong market; down 20% in 1 month

In the past one month, the stock has slipped 20 per cent, as compared to 3.8 per cent rise in the S&P BSE Sensex. Notably, Bharti Airtel's share price has declined sharply, by around 30 per cent, since the Adjusted Gross Revenue (AGR) verdict on September 1, 2020. READ MORE

2:15 PM

Centre asks at least eight state-run companies to consider buybacks: Report

Indian government has asked at least eight state-run companies to consider share buybacks in the current fiscal year that runs through March, 2021, two government officials said. READ MORE

2:04 PM

Rupee Closing

Rupee ends mildly lower at 73.37 per US dollar vs Friday's close of 73.34/$