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Monday, October 18, 2021

Market Highlights: Sensex surges 446 points, Nifty ends above 17,800 aided by RIL, IT stocks, banks

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,744.88, up 445.56 points (0.75 per cent), while the Nifty 50 settled at 17,822.30, up 131.05 points (0.74 per cent).

By: Express Web Desk | New Delhi |
Updated: October 5, 2021 4:55:08 pm
BSE in Mumbai. (Express photo by Ganesh Shirsekar)

Share/Stock Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) staged a sharp recovery after a poor start and ended 0.75 per cent higher on Tuesday led by gains in market heavyweight Reliance Industries (RIL) along with information technology (IT) and banking stocks.

The S&P BSE Sensex climbed 445.56 points (0.75 per cent) to end at 59,744.88 while the Nifty 50 settled at 17,822.30, up 131.05 points (0.74 per cent). Both the indices had opened in the negative territory tracking global cues but later swung into the green during the afternoon trade.

On the BSE benchmark, RIL was the top contributor of the day. The stock surged over 2 per cent to breach the Rs 2,600-mark and hit a fresh all-time high, settling at Rs 2609.10 on the BSE. The market capitalisation of the behemoth stood at Rs 16,54,024.10 crore and the end of day’s trade, BSE data showed.

Apart from RIL, IT majors Tata Consultancy Services (TCS) and Infosys along with Bharti Airtel, HDFC Bank and IndusInd Bank were the other top Sensex contributors.

Among sectoral indices on NSE, the Nifty IT was the top gainer on Tuesday led by HCL Technologies, MphasiS and TCS. Separately, the Nifty Auto too rose 0.48 per cent driven by Ashok Leyland and Maruti Suzuki India. The Bank Nifty climbed 0.43 per cent aided by IndusInd Bank and AU Small Finance Bank.

In the broader market, the S&P BSE MidCap index ended at 25,688.67, up 84.79 points (0.33 per cent) while the S&P BSE SmallCap settled at 28,851.62, up 154.90 points (0.54 per cent).

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

16:21 (IST)05 Oct 2021
MARKET QUOTE | Deepak Jasani, Head of Retail Research, HDFC Securities on Tuesday's market performance

"Nifty closed in the positive for the second consecutive day on Oct 05. Nifty opened lower on Oct 05 and remained in a range for better part of the morning. Post 1240 Hrs, it started to rise. At close Nifty was up 0.74% or 131 points to 17822.

On a day when the volumes on the NSE were higher that recent average, Oil & Gas, Telecom and Power indices rose the most, while Realty and Healthcare indices lost the most. BSE Midcap and Smallcap indices rose less than the Nifty.

Services sector activity in India continued to remain strong in September despite a small fall from August. According to the monthly IHS Markit India Services Purchasing Managers’ Index (PMI) survey, services PMI stood at 55.2 in September, down from 56.7 in August.

The global selloff in technology stocks deepened in Asia on Tuesday amid investor fears of higher interest rates and as surging commodity prices fueled concerns about global inflation. However the Asian markets recovered from the morning lows towards the end of the session. World shares steadied near lows on Tuesday as worries that rising oil prices will feed inflationary pressures appeared to ease.

Nifty closed at almost the intra day high with high volumes and positive advance decline ratio. Nifty shows good momentum. The next resistance for the Nifty is 17912-17948 while the support is at 17711."

16:21 (IST)05 Oct 2021
MARKET QUOTE | S Ranganathan, Head of Research, LKP Securities on Tuesday's market performance

"Bulls took charge of the proceedings today powered by the Oil & Gas and IT sector while the PSE Index continued to lend strong support to the rally. The real action however was seen in the broader market where the breadth was indeed impressive with several companies in sectors like Power, Textiles, IMFL, Paper & Chemicals participating in the rally."

16:20 (IST)05 Oct 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Tuesday's market performance

"Domestic equities opened on a weak note as investors turned cautious due to a weak closing of the US market and rising crude oil price. However, upbeat mood of the European markets which rebounded after the US tech based sell-off helped the Indian market to regain momentum. Also, the rout of Chinese economy led by power shortage provided a positively surprise to few sectors in the Indian market."

16:15 (IST)05 Oct 2021
Rupee slips 13 paise to close at 74.44 against US dollar

The rupee fell 13 paise to close at 74.44 (provisional) against the US dollar on Tuesday weighed down by the strengthening of the greenback in the overseas market and rising crude oil prices.

At the interbank foreign exchange market, the local currency opened on a weak note and witnessed an intra-day high of 74.41 and a low of 74.63 against the US dollar in day trade.

(PTI)

15:36 (IST)05 Oct 2021
Equity markets at close

The S&P BSE Sensex ended at 59,744.88, up 445.56 points or 0.75 per cent, while the Nifty 50 settled at 17,822.30, up 131.05 points or 0.74 per cent.

15:12 (IST)05 Oct 2021
IndusInd Bank records 10% loan growth in September quarter

Private sector lender IndusInd Bank on Tuesday said it has posted a 10 per cent growth in advances at Rs 2,21,821 crore for the second quarter ended September 30.

Net advances stood at Rs 2,01,247 crore at the end of the second quarter of the last financial year, IndusInd Bank said in a regulatory filing.

The bank’s deposits also rose by 21 per cent (year-on-year) to Rs 2,75,486 crore in the quarter under review, from Rs 2,28,279 crore in the same period a year ago, it said. Click here to read

15:03 (IST)05 Oct 2021
RIL shares hit record highs, surge past Rs 2,600 apiece mark, m-cap near Rs 16.5 lakh crore mark

Shares of oil-to-telecom major Reliance Industries hit a fresh all-time high of Rs 2,608.55 in the late afternoon deals. The market capitalisation of the company stood at Rs 16,49,554.80 crore.

Source: BSE
14:08 (IST)05 Oct 2021
India’s services sector activity expands in September; employment rises for first time in 10 months

India’s services sector activity continued to expand in September, supported by favourable underlying demand amid the easing of COVID-19 restrictions, but lost some momentum from August’s 18-month high level, a monthly survey said on Tuesday.

The seasonally adjusted India Services Business Activity Index fell from 56.7 in August to 55.2 in September, but remained well above its long-run average.

“Despite easing from August, the rate of expansion was marked and the second-fastest since February 2020,” the survey said. Click here to read

13:14 (IST)05 Oct 2021
Petrol and diesel prices hit fresh highs

After remaining steady for a day, petrol and diesel prices were hiked on Tuesday, October 5, 2021, hitting fresh record highs. In the national capital, the petrol price rose 25 paise while diesel inched up 30 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 102.64 a litre while diesel is selling at Rs 91.07. In the financial capital Mumbai, petrol price now stands at Rs 108.67 while diesel costs Rs 98.80, data available on Indian Oil Corporation’s website showed. Click here to read

12:02 (IST)05 Oct 2021
Srei Infrastructure Finance shares frozen in 5% lower circuit as RBI supersedes board

Shares of Srei Infrastructure Finance were locked in a 5 per cent lower circuit in the morning trade on Tuesday after the Reserve Bank of India (RBI) superseded the board of directors of the company.

The scrip was frozen at Rs 8.17 apiece on the BSE, down 5 per cent while on the National Stock Exchange (NSE), it was locked at Rs 8.20, down 4.65 per cent.

Over 6.15 lakh shares of Srei Infrastructure Finance were traded on the NSE while over 4.32 lakh shares exchanged hands of the BSE so far in the intraday trade, data from the respective stock exchange showed. Click here to read

11:00 (IST)05 Oct 2021
Rupee slumps 32 paise to 74.63 against US dollar in early trade

The Indian rupee depreciated 32 paise to 74.63 against the US dollar in opening trade on Tuesday, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities.

Forex traders said rising crude oil prices and risk-off sentiments could weigh on investor sentiment and drag down the local unit.

At the interbank foreign exchange, the rupee opened on a weak note at 74.63, registering a decline of 32 paise from the last close. On Monday, the rupee had settled at 74.31 against the US dollar.

(PTI)

10:36 (IST)05 Oct 2021
Global market update

Asian shares suffered heavy losses early on Tuesday following a broad sell-off on Wall Street, as markets fretted about the impact of multi-year high oil prices at a time when supply chain disruptions are already putting pressure on economic activity.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped as much as 1.3%, falling for a third consecutive session. Japan stocks were down 2.8%, South Korea gave up 2.5% and Australia shed 1%.

The drop in markets took MSCI's main benchmark to 619.87, the lowest since November 2020. It has shed more than 5% this year, with Hong Kong and Japanese markets among the big losers.

The drop in markets took MSCI's main benchmark to 619.87, the lowest since November 2020. It has shed more than 5% this year, with Hong Kong and Japanese markets among the big losers.

(Reuters)

10:29 (IST)05 Oct 2021
Equity markets at open

Sensex drops 92.73 pts to 59,206.59 in opening session; Nifty slips 20.40 pts to 17,670.85.

(PTI)

On Monday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had snapped out of their 4-session losing streak and ended nearly 1 per cent higher led by gains in market heavyweight Reliance Industries (RIL), metals, pharmaceutical, banking and financial stocks.

The S&P BSE Sensex climbed 533.74 points (0.91 per cent) to end at 59,299.32 while the Nifty 50 settled at 17,691.25, up 159.20 points (0.91 per cent). Both the indices had opened around 0.5 per cent higher and extended gains later in the day’s trade.

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