Sensex gains 307 pts as financials, metals rally; Nifty PSU Bank jumps 7%
All that happened in the markets today
 "Investors react as they watch the stock prices on a digital screen, at BSE building in Mumbai, Friday, Sept. 20, 2019. Sensex surges 1,921.15 pts to end at 38,014.62; Nifty zooms past 11,200 after Finance Minister Nirmala Sitharaman announced a slew")
NSE's Nifty ended at 10,142.15, up 113 points or 1.13 per cent.
After a one day blip, equity market once again edged higher on Friday, led by buying in financial, metal and auto stocks. PSU bank stocks advanced the most in trade after state-owned lender, State Bank of India, posted a net profit of Rs 3,581 crore for the March quarter of FY20 (Q4FY20). The profit grew 326.93 per cent from Rs 838 crore clocked in the year-ago quarter (Q4FY19). Sequentially, the profit declined by 35.85 per cent. READ MORE
The S&P BSE Sensex gained 307 points or 0.9 per cent to settle at 34,287.24 while NSE's Nifty ended at 10,142.15, up 113 points or 1.13 per cent. Volatility index, India VIX, slipped dropped nearly 4 per cent to 28.51 levels.
On a weekly basis, Sensex rallied 5.7 per cent and Nifty added 5.86 per cent.
On the sectoral front, the Nifty PSU Bank index gained around 7 per cent to 1,386.75 levels with all the 13 constituents advancing. Nifty Metal index rallied nearly 4 per cent to 2,049.70 levels. On the other hand, Nifty FMCG was the only index that ended in the red. The index settled 0.27 per cent lower at 29,542 levels.
In the broader market, both the mid and smallcap indices outperformed the benchmarks. The S&P BSE MidCap index climbed 1.8 per cent to 12,554.16 while the S&P BSE SmallCap index surged 2.51 per cent to 11,855 levels.
Global markets
On a weekly basis, Sensex rallied 5.7 per cent and Nifty added 5.86 per cent.
On the sectoral front, the Nifty PSU Bank index gained around 7 per cent to 1,386.75 levels with all the 13 constituents advancing. Nifty Metal index rallied nearly 4 per cent to 2,049.70 levels. On the other hand, Nifty FMCG was the only index that ended in the red. The index settled 0.27 per cent lower at 29,542 levels.
In the broader market, both the mid and smallcap indices outperformed the benchmarks. The S&P BSE MidCap index climbed 1.8 per cent to 12,554.16 while the S&P BSE SmallCap index surged 2.51 per cent to 11,855 levels.
Global markets
World stocks held their ground near three-month highs as the euro hit its highest level since March 10, thanks to Europe’s stimulus boost, fuelling hopes for a global rebound.
MSCI’s broadest index of Asia-Pacific shares outside of Japan rose 0.7 per cent, reversing early losses to stay near a 12-week top. The index is up about 7.4 per cent this week, on track for its best weekly showing since December 2011.
E-mini futures for the S&P 500 rose 1 per cent.
In Europe, shares resumed their rally as a bumper stimulus from the European Central Bank fuelled hopes of a faster economic recovery. The ECB on Thursday expanded its money-printing scheme to cushion a potential fall in output of up to 12 per cent this year, even as governments spend record amounts to preserve jobs while restrictions keep businesses shuttered.
In commodities, oil prices moved higher as traders await cues from OPEC+ meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts.
(With inputs from Reuters)
4:11 PM
MARKET COMMENT:: Vinod Nair- Head of Research- Geojit Financial Services
Indian indices, led by financials, came back strongly from yesterday’s indecisiveness, amidst positive global cues. The global positive sentiment was driven by additional stimulus measures from ECB. Investors are banking on a global economic recovery, fuelled by central bank policy measures to support the respective economies. Investors need to be a bit cautious since valuations are running high and the expected recovery is not yet visible in the numbers.
3:44 PM
SECTOR WATCH:: Nifty FMCG index ends in the red
3:43 PM
MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex gained 307 points or 0.9 per cent to end at 34,287.24,while NSE's Nifty ended at 10,142.15, up 113 points or over 1 per cent.
3:27 PM
PSBs rally post SBI March quarter results; Nifty PSU Bank index up 7%
Shares of public sector banks (PSBs) rallied up to 10 per cent on Friday on the National Stock Exchange (NSE) after the State Bank of India (SBI) reported improvement in assets quality on year-on-year (YoY) as well as sequential basis. SBI, Jammu & Kashmir Bank, Punjab National Bank (PNB), Bank of Baroda, Canara Bank and Indian Bank among the PSBs were up in the range of 7 per cent to 10 per cent on the NSE. READ MORE
3:19 PM
MARKET UPDATE:: Vodafone Idea up 21% at Rs 10.78, first time since July 26, 2019
>> Stock quotes above face value of Rs 10 per share
3:16 PM
INDEX GAINERS:: Tata Steel jumps 6%
3:06 PM
MARKET CHECK:: Top 5 gainers on the BSE at this hour
2:56 PM
BUZZING STOCK:: Vodafone Idea surges 17%
2:55 PM
SBI Q4 NOS:: Bank's provision coverage ratio stood at 83.6% Vs 81.2% (QoQ)
>> Slippages Ratio for FY20 has declined to 2.16% from 2.42% as at the end of 9MFY20;
>> Credit Cost as at the end of FY20 has declined 79 bps YoY to 1.87%.
2:44 PM
RESULT IMPACT:: SBI extends gain, up 8% now
2:42 PM
NEWS ALERT | Moratorium availed by 21.8 per cent customers, 23 per cent of term loans: SBI Chairman
-- Have gained market share in both deposits and loans: SBI Chairman
-- Holding almost 78 per cent provision on corporate loan book: SBI Chairman
-- Holding almost 78 per cent provision on corporate loan book: SBI Chairman
2:39 PM
SBI posts Q4 net profit of Rs 3,581 crore on one-time gain from SBI Cards
State Bank of India (SBI) on Friday reported standalone net profit of Rs 3,581 crore in the March quarter of FY20 (Q4FY20). The profit grew 326.93 per cent from Rs 838 crore clocked in the year-ago quarter (Q4FY19). Sequentially, the profit declined 35.85 per cent. The profit was supported by one-time gain of Rs 2,731.34 crore from the stake sale in SBI Cards done during the quarter. READ MORE
2:27 PM
NEWS ALERT | Holding total provision of Rs 5,767 crore for IBC accounts: SBI
-- Made provision of Rs 405 crore towards wage revision: SBI
-- Q4 includes one-time gain of Rs 2,731.3 crore on stake sale in SBI Cards
-- Q4 includes one-time gain of Rs 2,731.3 crore on stake sale in SBI Cards
2:17 PM
SBI Q4 RESULTS | Net profit comes in at Rs 3,581 crore
-- Net NPA at Rs 51,871 cr
-- Net NPA at 2.23 per cent
-- Fresh slippages at Rs 8,105 cr vs Rs 16,525 cr (QoQ)
-- Net interest income (NII) at Rs 22,766 crore
-- Agri slippages at Rs 5,238 crore
-- Personal loan slippages at Rs 600 crore vs Rs 821 crore (QoQ)
-- Net NPA at 2.23 per cent
-- Fresh slippages at Rs 8,105 cr vs Rs 16,525 cr (QoQ)
-- Net interest income (NII) at Rs 22,766 crore
-- Agri slippages at Rs 5,238 crore
-- Personal loan slippages at Rs 600 crore vs Rs 821 crore (QoQ)
Topics : Coronavirus Markets Reliance Industries Ltd Bharti Airtel State Bank of India Larsen & Toubro MARKET WRAP
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First Published: Jun 05 2020 | 6:48 AM IST
