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Tuesday, June 02, 2020

Sensex ends 59 points higher, Nifty settles largely unchanged; PSU banks gain, metals lose

The S&P BSE Sensex ended at 31,648.00, up 59.28 points (0.19 per cent), while the Nifty settled at 9,261.85, down 4.90 points (0.05 per cent).

By: Express Web Desk | New Delhi | Updated: April 20, 2020 4:09:50 pm
indian share market news, indian stock market news, bse sensex live updates, nse nifty 50 live updates, business news india, indian express business news BSE in Dalal Street, Mumbai. (Express photo by Nirmal Harindran)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended on a mixed note on Monday.

The S&P BSE Sensex ended at 31,648.00, up 59.28 points (0.19 per cent), while the Nifty settled at 9,261.85, down 4.90 points (0.05 per cent). Both the indices had opened over 1 per cent higher earlier in the day and traded on a positive note during the morning session, but lost steam during the afternoon session of trade.

Gains the Sensex during the day were led by HDFC Bank, Infosys, Sun Pharmaceutical Industries, NTPC, HCL Technologies and Housing Development Finance Corporation (HDFC). On the other hand, Axis Bank, ITC, ICICI Bank, IndusInd Bank, Maruti Suzuki India and Oil and Natural Gas Corporation (ONGC) were among the top losers of the day. (see heatmap below)

Gainers and losers of the day on the Sensex. (Source: BSE)

Among the sectoral indices on NSE, the Nifty PSU Bank index surged 4.23 per cent led by Central Bank of India, UCO Bank and The Jammu & Kashmir Bank. On the other hand, Nifty Metal index cracked 3.20 per cent weighed by Hindalco Industries and JSW Steel.

Here’s how the sectoral indices performed:

Sectoral gainers and losers of the day on the National Stock Exchange. (Source: NSE)

In the broader market, S&P BSE MidCap index closed at 11,798.83, down 25.24 points (0.21 per cent), while the S&P BSE SmallCap ended at 10,886.91, up 86.00 points (0.80 per cent).

“Uncertainty ruled the markets and lack of direction from earnings results or the global markets meant that the Indian benchmark indices ended flat after a volatile trading day. Sentiments were mixed regarding the recovery in corporate earnings, post easing of lockdown measures, and effectiveness of RBI measures to infuse liquidity into the financial system. Rate of spread of virus infections and stock specific earnings guidance will be in focus,” said Vinod Nair, Head of Research at Geojit Financial Services.

Rupee

The rupee declined by 14 paise to settle at 76.53 (provisional) against the US dollar on Monday, amid strengthening of the American currency overseas and a sharp rise in coronavirus cases in the country, news agency PTI reported.

At the interbank foreign exchange, the rupee opened strong at 76.43, but soon lost ground and finally settled at 76.53, registering a fall of 14 paise over its previous close. During the session, the rupee witnessed high volatility and touched a high of 76.43 and a low of 76.68 against the US dollar. On Friday, the rupee had settled at 76.39 against the greenback.

Global market

Caution recaptured world markets on Monday as another drubbing for US crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.

European stocks made a choppy start, with the pan-regional EUROSTOXX 600 swinging in and out of positive territory in early trading. London’s FTSE and Germany’s DAX
were up 0.2 per cent.

E-Mini futures for the S&P 500 slipped nearly 0.5 per cent too, after Wall Street enjoyed a strong end to last week, though it barely seemed to reflect the latest violent turbulence in oil markets.

– with global market inputs from Reuters

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