Market Wrap, Oct 27: Here's all that happened in the markets today

The domestic equity market ended around 1 per cent higher on Tuesday, led by gains in financial and FMCG stocks. Further, hopes of higher inflows after MSCI said it will implement the new regime on foreign ownership limits in the MSCI Global Indexes containing Indian securities in the November 2020 Semi Annual Index Review, also boosted investor sentiment.
 

Among headline indices, the S&P BSE Sensex rallied 377 points, or 0.94 per cent to settle at 40,522 levels while the Nifty50 index ended at 11,889, up 122 points, or 1 per cent. India VIX declined nearly 3 per cent to 22.19 levels.
 

Among sectoral indices, Nifty Private Bank index gained the most - up over 3 per cent to 13,756 points while Nifty Bank added nearly 3 per cent to 24,769.50. Nifty IT, on the other hand, slipped over 1 per cent to 21,023 levels.
 

In the broader market, the S&P BSE MidCap index gained 1.65 per cent to 14,954 levels while the S&P BSE SmallCap index rallied 0.6 per cent to 15,090 levels.
 

Buzzing stocks of the day
 

Shares of midcap companies were in focus with the S&P BSE Midcap index outperforming the market by gaining more than 1 per cent on the back of strong rally in Shriram Transport Finance Company, MRF and Muthoot Finance, which were up more than 6 per cent on the BSE on Tuesday.
 

Shares of Ipca Laboratories hit an all-time high during the session. For the April-June quarter (Q1FY21), Ipca had reported over three-fold jump in its consolidated net profit at Rs 446 due to robust sales.
 

Shares of Nestle India gained 6 per cent to Rs 17233 on the BSE. The stock has risen over 7 per cent in the past two trading days after the company reported stronger-than-expected recovery with double-digit sales growth for the quarter ended September 2020 (Q3CY20).
 

Global markets
 

European equities fell in early trade on Tuesday trading as risk-aversion swept markets, with a resurgence of coronavirus cases threatening the global economic recovery and caution ahead of US elections on November 3.
 

In commodities, oil prices rose towards $41 a barrel as oil companies shut down some US Gulf of Mexico oil output due to a hurricane, although surging coronavirus infections and rising Libyan supply limited gains.