MARKET WRAP: Sensex ends choppy session 136 pts lower; Nifty ends at 11,642
All that happened in the markets today
 "(Photo: Kamlesh Pednekar)")
(Photo: Kamlesh Pednekar)
The domestic benchmark indices ended Friday's volatile session in the negative territory amid weak global cues.
Among headline indices, the S&P BSE Sensex ended 136 points or 0.34 per cent lower at 39,614 levels and the broader Nifty50 index ended at 11,642, down 28 points, or 0.24 per cent. Bharti Airtel (down 4 per cent), Maruti (down over 2 per cent), and HUL (down 2 per cent) were the top Sensex drags. On the other hand, Tata Steel (up over 2 per cent), and NTPC (up 2 per cent) were the biggest gainers on the index.
Volatility index, India VIX, rose 3 per cent to 24.7 levels.
On a weekly basis, Sensex slipped 2.6 per cent while Nifty lost 2.4 per cent.
In the broader market, the S&P BSE MidCap index ended 0.62 per cent higher at 14,905 levels while the S&P BSE SmallCap index ended flat at 14,888, down just 0.03 per cent.
Sectorally, Nifty Metal index rallied over 1.5 per cent while Nifty Realty gained over 2 per cent. Nifty Auto, on the other hand, dropped over 1 per cent to 7,758 levels.
On a weekly basis, Sensex slipped 2.6 per cent while Nifty lost 2.4 per cent.
In the broader market, the S&P BSE MidCap index ended 0.62 per cent higher at 14,905 levels while the S&P BSE SmallCap index ended flat at 14,888, down just 0.03 per cent.
Sectorally, Nifty Metal index rallied over 1.5 per cent while Nifty Realty gained over 2 per cent. Nifty Auto, on the other hand, dropped over 1 per cent to 7,758 levels.
Global markets
World stocks slipped further on Friday and safe havens got a fillip as jitters over a rising global Covid-19 infection rate and next week’s US presidential election weighed on sentiment.
In Europe, the blue-chip EuroSTOXX 50 was down 0.6 per cent to take its weekly loss to 6.8 per cent and leaving it at levels last seen in late May.
In commodities, global oil prices moved in and out of the negative territory but remained on course for a second monthly fall as rising COVID-19 cases in Europe and the United States heighten concerns over fuel consumption.
(With inputs from Reuters)
4:14 PM
MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services
"Indian market is moving in tandem with global trends which is displaying weakness as a new round of coronavirus lockdown is weighing on the future growth and outlook. Indian rally was supported by good Q2 results and economic data. The sustenance of economic data will be difficult in the next quarter due to restrictions affecting world growth, global uncertainties over the US presidential election, and timing of stimulus."
3:43 PM
SECTOR WATCH | Nifty Metal gains over 1.5%
3:42 PM
MARKET AT CLOSE | Losers and gainers on the BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex ended 136 points, or 0.34 per cent lower at 39,614 levels while NSE's Nifty ended at 11,642, down 28 points, or 0.24 per cent.
3:28 PM
MARKET CHECK
3:25 PM
BROKERAGE VIEW | Prabhudas Lilladher on BPCL
RATING: BUY | TARGET PRICE: Rs 479
Weak global demand and high inventory levels are likely to keep crude oil prices range bound, which will support marketing margins in medium term. Meanwhile GRMs will recover with pickup in economic activity and lower operating cost (due to soft spot LNG prices) will support refining earnings. BPCL remains one of our preferred divestment play in the oil and gas sector however, with uncertain timelines we cut target multiple to PER of 9x FY22E (10x earlier). Maintain BUY with a TP of Rs 479 (Rs 515 earlier).
Weak global demand and high inventory levels are likely to keep crude oil prices range bound, which will support marketing margins in medium term. Meanwhile GRMs will recover with pickup in economic activity and lower operating cost (due to soft spot LNG prices) will support refining earnings. BPCL remains one of our preferred divestment play in the oil and gas sector however, with uncertain timelines we cut target multiple to PER of 9x FY22E (10x earlier). Maintain BUY with a TP of Rs 479 (Rs 515 earlier).
3:21 PM
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3:06 PM
Index contributors at this hour
3:06 PM
INDEX GAINER | Infosys down 1.6%
3:06 PM
Heatmap: S&P BSE Sensex gainers and losers at this hour
3:01 PM
Liberty's India constraint: Reassuring lenders remains a tall order
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2:54 PM
Click here for the full list
Recovery from intra-day lows in today's session
| COMPANY | DAY'S LOW(RS) | DAY'S HIGH(RS) | LATEST(RS) | RISE(%) |
|---|---|---|---|---|
| CHOLAMAN.INV.&FN | 248.60 | 279.35 | 278.90 | 12.19 |
| BLUE DART EXPRES | 3356.00 | 3766.60 | 3640.00 | 8.46 |
| CARBORUNDUM UNI. | 264.15 | 284.55 | 283.55 | 7.34 |
| TVS MOTOR CO. | 425.00 | 461.40 | 455.75 | 7.24 |
2:54 PM
Karur Vysya Bank Q2 profit up 81% to Rs 115 cr, NII rises by 0.9%
Karur Vysya Bank (KVB) has reported an 81 per cent jump in profit to Rs 114.89 crore during the quarter ended September 2020, from Rs 63.33 crore during the same period last year. READ MORE
2:46 PM
Ahead of Results :: IndusInd Bank trades flat
2:40 PM
Trump vs Biden :: What the US polls can mean for key emerging markets
Opinion polls ahead of the Nov. 3 vote show Biden with a significant edge nationally over Trump in a race being closely watched by investors in developing economies, which account for nearly 60% of global GDP. READ MORE
Topics : Markets Reliance Industries IndusInd Bank InterGlobe Aviation Vodafone Idea TVS Motor Canara Bank MARKET WRAP
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First Published: Oct 30 2020 | 7:53 AM IST
