MARKETS: Indices end choppy trade higher; Sensex up 144 pts; RIL sinks 9%

All that happened in the markets today

The Indian benchmark indices closed marginally higher in Monday's volatile session during which heavy losses in index-heavyweight Reliance Industries were offset by gains in financial stocks.
 

Among headline indices, the S&P BSE Sensex ended the session 144 points, or 0.36 per cent, higher at 39,757.58. The index hit an intra-day high and low of 39,968 and 39,335, respectively. The advance decline ratio among the index's constituents was 3:2.

IndusInd Bank, ICICI Bank, and HDFC rose between 6 per cent and 7 per cent after the announcement of its September quarter results.
 

On the other hand, Reliance Industries at over 3-month low levels of Rs 1,876.90, down over 8 per cent.

The broader Nifty50 index ended the day 27 points higher at 11,669.15.

The Nifty sectoral indices were mixed, with Nifty Bank index leading the list of gainers. The index closed 992 points, or 4.15 per cent, higher.
 

In the broader market, the S&P BSE MidCap index closed up 0.36 per cent while the SmallCap index tumbled 0.7 per cent.

Global markets

World shares recovered from one-month lows on Monday as upbeat Chinese data offset new lockdowns in Europe, while investors prepared for more volatility arising from the US presidential election.
 

MSCI world equity index, which tracks shares in 49 countries, rose 0.2 per cent, following a strong performance in Asia after data showed Chinese factory activity expanded at its fastest pace in a decade.
 

Europe was off to a more cautious start after the UK became the latest country in the region to announce a fresh lockdown as a second wave of COVID-19 infections threatened to overwhelm its health service.
 

The FTSEurofirst 300 benchmark fell early but managed to find some footing as investors bet the lockdowns wouldn't last as long as the previous round. The index, which reached a five-month low last week, was last up 0.2 per cent.
 

In commodities, Brent crude prices fell to a low of $35.74 per barrel, a level not seen since late May.

(With inputs from Reuters)

4:28 PM

Market Closing Comment :: Vinod Nair, Head of Research at Geojit Financial Services

The weak opening reflected the rough waters market the entered last week. However, some recovery was seen as investors showed interest in banking stocks as major players announced Q2 results, beating the street estimates with positive outlook. Additionally, the banking stocks are attempting to price, in expectation of the positive SC verdict on moratorium. The Indian market is expected to be volatile, amidst mixed global sentiments due to increasing covid cases, US election and delayed stimulus.

4:02 PM

Market Closing Comment :: Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities

One more indecisive day for the Nifty 50, however, Bank Nifty did a great job.  The Bank Nifty closed 4 per cent higher while Nifty 50 closed at an unchanged level. Nifty was down mainly due to steep weakness in Reliance Industries.  At one point of time, Reliance was down by more than 10 per cent and it's the biggest drop on intraday basis after 15th July 2020. Financials did a strong comeback and managed to recoup the losses on Indices due to a substantial fall in Reliance Industries  As we discussed, Nifty remained between the range of 11530 and 11750. It has formed an indecisive candlestick formation on a daily chart. Be stock specific for the time being. The focus should be on financials as technically, the Bank Nifty is ready to hit the level of 25500 shortly.

3:47 PM

Market Closing Comment :: S Ranganathan, Head of Research at LKP Securities

Ahead of the US elections, we witnessed a highly volatile trading session today with Reliance giving way. However indices managed to end in the green led by Financials which was indeed a treat to watch. Few high profile Realty names were the stars in the broader market today

3:44 PM

Market Statistics

3:43 PM

Sectoral Loser :: Coforge, HCL Tech end as top losers

3:41 PM

Sectoral Winner :: Nifty Bank ends 4% higher

3:39 PM

Sectoral trends at Close

3:38 PM

Sensex Heatmap at Close

3:37 PM

Closing Bell

>> Benchmark S&P BSE Sensex ends at 39,757.58 levels, up 143.51 points or 0.36 per cent.

>> Nifty50 ends at 11,669.150mark, up 26.75 points or 0.23 per cent.  

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Heatmap: S&P BSE Sensex gainers and losers at this hour

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HDFC Q2 net profit tanks 28% YoY to Rs 2,870 crore, beats Street estimates

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