RIL, IT stocks help Sensex settle 195 pts higher; Nifty ends above 12,900

All that happened in the markets today

The benchmark indices ended around 0.5 per cent higher on Monday amid buying in Reliance Industries (RIL), and information technology counters such as Infosys, and Tata Consultancy Services (TCS). 

The S&P BSE Sensex gained 195 points, or 0.44 per cent to settle at 44,077 levels while NSE's Nifty ended above 12,900 level at 12,926, up 67 points, or 0.52 per cent. During the day, the index hit a record high of 12,969 levels. 

Volatility index, India VIX, gained over 6 per cent to 20.8 levels. 

The broader market outperformed the headline indices. The S&P BSE MidCap index gained 1.25 per cent to 16,642 levels while the S&P BSE SmallCap index settled at 16,405, up 1.37 per cent. 

Among sectoral indices, Nifty IT gained the most - up nearly 3 per cent to 22,007 levels. Nifty Bank, on the other hand, slipped 0.72 per cent to 29,024 levels while Nifty Financial Service index fell over 1 per cent to 14,059 levels.  

Global markets 

Shares and oil prices rose on Monday while the dollar fell as investors pinned hopes for economic revival on coronavirus vaccines, even as the world contended with surging case numbers and delays to fresh US stimulus.

The STOXX index of Europe’s 600 largest shares rose 0.5 per cent to its highest since February after AstraZeneca become the latest major drugmaker to say its vaccine for the virus could be around 90 per cent effective.

In commodities, oil prices rose more than 1 per cent, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials. 

(With inputs from Reuters)

3:43 PM

MARKET AT CLOSE | Nifty IT gains nearly 3%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex rallied 195 points, or 0.44 per cent higher to 44,077 levels while NSE's Nifty ended at 12,926, up 67 points, or 0.52 per cent.

3:29 PM

MARKET CHECK

3:22 PM

Infosys gains 4%, nears record high amid report Co may win Daimler deal

Shares of Infosys moved higher by 4 per cent to Rs 1,144 on the BSE in intra-day trade on Monday amid a report that the company has emerged as the front runner for a multi-year, $1.3 billion deal from Daimler. The deal involves transferring of 500-600 Daimler employees to the information technology (IT) firm and is focused on infrastructure management services, networks, and data centres, The Times of India reported. READ MORE 

3:07 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
EQUITAS HOLDINGS	63.40	19.96
I D F C	40.10	19.88
UJJIVAN SMALL	40.40	19.88
UJJIVAN FIN.SER.	292.80	17.68
J & K BANK	23.91	16.52

3:01 PM

Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

Top Indian conglomerates led by Tata, Birla, Piramal, and Bajaj will seek a banking licence provided the norms for conversion of non-banking finance companies (NBFCs) are made easier and comprehensive regulation does not apply to rest of the group firms, sources said. READ MORE

2:55 PM

BUZZING STOCK:: ONGC surges 8%

2:55 PM

Investing tips by Shyam Sekhar

2:50 PM

NEWS ALERT :: Eurozone economy in 'steep downturn', reports AFP quoting key survey

2:46 PM

Apollo Tyres lines up capital expenditure of Rs 2,600 cr for FY21, FY22

Apollo Tyres is planning for a capex of around Rs 2,600 crore for the current and the next fiscal. The company said demand continues to be positive abetween nd with its factories running at between 85% and 90% utilisation, it was bullish about the third and fourth quarters. READ MORE

2:42 PM

Auto ancillary stocks rally; Amara Raja, MRF, Balkrishna Ind hit 52-wk high

Shares of auto ancillary companies were in focus on Monday with MRF, Balkrishna Industries, Amara Raja Batteries and Jamna Auto hitting their respective 52-week highs on the expectation of strong revenue growth. The July-September quarter (Q2FY21) was marked by a sharp rebound for the auto sector from the washout Q1FY21 performance. Demand outstripped supply for major players as production, distribution levels climbed to successively higher levels throughout. Dispatches picked up sharply in September in the run-up to the festive period. READ MORE

2:36 PM

Strides Pharma Science gets USFDA nod for generic Prednisone tablets

2:29 PM

Proposed corporate ownership of Indian banks poses high risks, says S&P

“We are, however, skeptical of allowing corporate ownership in banks given India's weak corporate governance record amid large corporate defaults over the past few years”, S&P said in statement.
 

Moreover, RBI will face challenges in supervising non-financial sector entities and supervisory resources could be further strained at a time when the health of India's financial sector is weak. READ MORE

2:21 PM

S&P BSE SmallCap index up over 1%