Indices gain for 6th day, Nifty reclaims 10K; PSBs, realty stocks rally
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")
The S&P BSE Sensex ended 284 points or 0.84 per cent higher at 34,109.54 levels.
Extending its gains into the sixth consecutive session, the domestic equity market settled in the positive territory on Wednesday on optimism around gradual opening up of the economy and strong global cues. NSE's Nifty reclaimed the crucial 10,000 level after nearly 3 months amid buying in financial counters.
The S&P BSE Sensex ended 284 points or 0.84 per cent higher at 34,109.54 levels while NSE's Nifty gained 82 points or 0.83 per cent to settle at 10,061.55. The index topped the key 10,000 level for the first time since March 13 this year.
In the broader market, smallcaps outperformed the frontline indices while mid-caps ended flat. The Nifty SmallCap 100 index gained over 1 per cent to 4,278 levels while the Nifty Midcap 100 index gained 0.4 per cent to close at 13,924 points.
Sectorally, Nifty PSU Bank index jumped over 5 per cent to 1,284.45 while Nifty Realty ended at 200.85 levels, up over 3 per cent. On the flip side, Nifty IT index slipped 0.42 per cent while Nifty Metal shed 0.17 per cent.
Among individual stocks, Britannia hit a new high of Rs 3,704.55 during the session as the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. The stock ended at Rs 3,510.25, up nearly 2 per cent. READ MORE
Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE after the airline' March quarter numbers beat Street expectations. Besides, analysts' optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock. The stock ended around 8.5 per cent higher at Rs 1,025.55 apiece on the BSE. READ MORE
In the broader market, smallcaps outperformed the frontline indices while mid-caps ended flat. The Nifty SmallCap 100 index gained over 1 per cent to 4,278 levels while the Nifty Midcap 100 index gained 0.4 per cent to close at 13,924 points.
Sectorally, Nifty PSU Bank index jumped over 5 per cent to 1,284.45 while Nifty Realty ended at 200.85 levels, up over 3 per cent. On the flip side, Nifty IT index slipped 0.42 per cent while Nifty Metal shed 0.17 per cent.
Among individual stocks, Britannia hit a new high of Rs 3,704.55 during the session as the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent. The stock ended at Rs 3,510.25, up nearly 2 per cent. READ MORE
Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE after the airline' March quarter numbers beat Street expectations. Besides, analysts' optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock. The stock ended around 8.5 per cent higher at Rs 1,025.55 apiece on the BSE. READ MORE
Shares of Mahindra & Mahindra (M&M) moved higher by 6 per cent to Rs 485 on the BSE after the company announced fund raising plans. READ MORE
Global markets
Global markets
World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the United States and rising Covid-19 tolls.
The MSCI world equity index, which tracks shares in 49 countries, rose to its highest since March 6, having gained throughout the Asian session.
MSCI’s main European Index also held near three-month highs and European bourses opened higher, with the STOXX 600 up over 1% and back to levels not seen since March 6.
In commodities, oil prices rose, topping $40 a barrel for the first time since March, supported by lower US inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.
(With inputs from Reuters)
3:46 PM
SECTOR WATCH:: IT, metal stocks slip in the trade
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 284 points or 0.84 per cent to settle at 34,109.54 while NSE's Nifty ended at 10,061.55, up 82 points or 0.83 per cent.
3:28 PM
MARKET CHECK
3:19 PM
MARKET UPDATE:: Orient Cement drops nearly 5%
3:12 PM![]()
Mahindra & Mahindra rallies 6% as board to consider fund raising plan
“The board of directors of the company will meet on June 12, 2020 to consider raising of funds by way of issuance of securities including but not limited to secured/unsecured redeemable non-convertible debentures on private placement basis, in one or more tranches / series,” M&M said in a regulatory filing. READ MORE
3:11 PM
Click here for the full list![]()
Fall from intra-day high today
| COMPANY | DAY'S HIGH(RS) | DAY'S LOW(RS) | LATEST(RS) | FALL(%) |
|---|---|---|---|---|
| ADANI POWER | 42.20 | 37.15 | 37.75 | -10.55 |
| IFB INDS. | 471.10 | 419.10 | 430.00 | -8.72 |
| NAVA BHARAT VENT | 47.65 | 43.05 | 43.60 | -8.50 |
| MAX FINANCIAL | 492.00 | 451.95 | 452.00 | -8.13 |
| MAX INDIA | 76.40 | 69.90 | 70.35 | -7.92 |
| LA OPALA RG | 177.00 | 157.05 | 163.00 | -7.91 |
3:03 PM
MARKET UPDATE
2:57 PM
Volatility index, India VIX, slips below 30-mark
2:51 PM![]()
India IT spending to fall 8% this year due to Covid-19, first fall in 5 yrs
The spend is expected to total $83.5 billion. “The fear of a global economic recession due to the Covid-19 pandemic is forcing CIOs (chief information officers) in India to be very cautious on their IT spending this year,” said Naveen Mishra, senior research director at Gartner. “In partnership with their CFOs, CIOs in India are reprioritizing their IT budgets on mission critical initiatives.” READ MORE
2:43 PM
MARKET UPDATE:: Nifty PSU Bank index up 8%; Indian Overseas Bank, Bank of India, Central Bank of India, Union Bank of India, Indian Bank gain over 10%
2:39 PM
HDFC Bank and ICIC Bank top contributors to Sensex's rally today
2:32 PM
MARKET UPDATE:: Sensex at day's high
2:20 PM![]()
PSBs may report weak loan growth, NII amid Covd-19 crisis in Q4: Analysts
As credit growth slumps to decadal low of 6.14 per cent in the financial year 2019-20 amid the coronavirus (Covid-19) outbreak, public sector banks (PSBs), analysts say, may report single-digit sequential growth in the March quarter of FY20 (Q4FY20). Besides, marginal slip in net interest income, steady credit costs could be the other theme across the PSB segment. READ MORE
Illustration: Binay Sinha
2:17 PM
MARKET CHECK:: S&P Finance index gains 3.6%
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First Published: Jun 03 2020 | 7:14 AM IST
