MARKET: Indices end flat, Nifty settles at 11,222; PSBs, FMCG stocks fall

All that happened in the markets today

Markets continue to rally on RBI policy fillip; Sensex rises 164 points

The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down over 2 per cent.

The benchmark indices ended Tuesday's volatile session on a flat note with a negative bias.

The S&P BSE Sensex ended at 37,973 levels, down 8 points, or 0.02 per cent. During the session, the index hit an intra-day high and low of 38,236 and 37,831, respectively. ONGC (down 4%) was the top Sensex laggard, followed by IndusInd Bank, Power Grid, and Axis Bank (all down 3%). On the other hand, UltraTech Cement (up 3 per cent) and Tata Consultancy Services (up over 2.5 per cent) ended as the top gainers on the index.

On the NSE, the broader Nifty50 index settled at 11,222, down 5 points, or 0.046 per cent.

The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down over 2 per cent.

In the broader market, the S&P BSE MidCap index ended at 14,697, down 0.16 per cent while the S&P BSE SmallCap closed at 14,861, down 0.01 per cent.

Global stocks

European shares slipped on Tuesday as investors awaited the first US presidential debate and eyed progress of a fiscal stimulus package in Washington.

US shares were set to open lower, with futures for the S&P 500 and Nasdaq giving up earlier gains to slip into negative territory. The MSCI world equity index, which tracks shares in nearly 50 countries, was flat.

Meanwhile, the global death toll from Covid-19 rose past 1 million on Tuesday, according to a Reuters tally.

In commodities, oil prices dropped, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new US stimulus package that lawmakers are struggling to agree.

(With inputs from Reuters)

3:43 PM

SECTOR WATCH | Nifty Metal index gains nearly 2%

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 ended 8 points, or 0.02 per cent lower at 37,973 while NSE's Nifty ended at 11,222, down 5 points, or 0.05 per cent.

3:29 PM

MARKET CHECK

3:13 PM

Titan Co trades over 2% higher

3:03 PM

Logistic shares rally; Blue Dart Express, Gati surge over 10%

Shares of transportation and ,logistics companies rallied up 12 per cent on the BSE on Tuesday on expectations of improved earnings as global freight rates are taking off. Among individual stocks, Blue Dart Express and Gati rallied 11 per cent and 12 per cent, respectively. Snowman Logistics, VRL Logistics, Mahindra Logistics and TCI Express were up in the range of 3 per cent to 7 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.5 per cent at 38,168 points at 02:34 pm. READ MORE

2:55 PM

Ashok Soota debuts in Hurun India rich list with Happiest Minds bumper IPO

Given the stellar initial public offer Of Happiest Minds, its founder Ashok Soota made a debuts in this list with wealth totaling Rs 3,700 crore. Radhakishan Damani, founder of Avenue Supermarts, on the other hand, broke into the top 10 wealthiest individuals ranking in the IIFL Wealth Hurun India Rich List 2020. READ MORE

2:46 PM

MF distributor or registered investment advisor: Whom should you choose?

If you need an expert handholding to invest your money to achieve your financial goals, you might face the dilemma of whom to approach – a Registered Investment Advisor (RIA) or a distributor.

Securities Exchange Board of India (Investment Advisors) (Amendment) Regulations that kick in on October 1, 2020, has made a clear distinction between an RIA and a mutual fund distributor and has segregated the two activities. READ MORE

2:43 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GREEN	714.20	714.20	5.00
APL APOLLO TUBES	2840.00	2879.95	1.60
APOLLO HOSPITALS	2090.60	2112.95	1.48
BALKRISHNA INDS	1470.00	1497.15	1.48
BERGER PAINTS	581.00	599.50	-1.07

» More on 52 Week High

2:36 PM

KEC Int'l trades higher for fourth straight day, stock nears 52-week high

Shares of KEC International were trading higher for the fourth straight day, up 5 per cent at Rs 349 on the BSE on Tuesday. The stock of the heavy electrical equipment company was trading close to its 52-week high level of Rs 359 touched on September 15, 2020. In the past four days, it has rallied 14 per cent on the BSE, BSE data show. READ MORE

2:27 PM

MARKET CHECK | Sensex up 136 pts

2:27 PM

Walmart in talks to invest $25 bn in Tata Group's 'super app': Report

According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. READ MORE

2:19 PM

BROKERAGE VIEW | ICICI Securities on Laurus Labs

Shares of Laurus Labs have been split on September 29, 2020 (ex-date) pursuant to the board and shareholder approval granted for sub-division of shares in its meetings on April 30, 2020, and July 9, 2020, respectively. The record date for the same has been fixed as September 30, 2020. Subsequently, the shares of the company have been split in the 1:5 ratio — an equity share with the existing face value of Rs 10 has been sub-divided into five equity shares of Rs 2 face value each. Consequently, the share price has changed to Rs 292/share from Rs 1,460/share. Accordingly, our target price has also been revised to Rs 325/share from Rs 1,620/share earlier. After the recent run-up, the stock offers limited upside from here on. We change our recommendation from BUY to HOLD. Our target price is based on 22x FY23E EPS (revised) of Rs 14.7.

2:13 PM