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Tuesday, September 22, 2020

Sensex rises 307 points, Nifty settles at 10,142; PSU banks, metals rally

The S&P BSE Sensex rose 306.54 points (0.90 per cent) to end at 34,287.24, while the broader Nifty 50 settled at 10,142.15, up 113.05 points (1.13 per cent).

By: Express Web Desk | New Delhi | Updated: June 5, 2020 4:19:11 pm
indian share market live updates, indian stock market live updates, sensex opens over 1000 points higher, rbi reserve bank of india press conference, rbi governor shaktikanta das, 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 around 1 per cent higher on Friday led by gains in metal and banking stocks.

The S&P BSE Sensex rose 306.54 points (0.90 per cent) to end at 34,287.24, while the broader Nifty 50 settled at 10,142.15, up 113.05 points (1.13 per cent). Both the indices had opened over 0.5 per cent higher earlier in the day.

On the Sensex, State Bank of India (SBI), Tata Steel, Bajaj Finance, HDFC Bank, NTPC and Axis Bank were the top gainers of the day, while Tata Consultancy Services (TCS), Hindustan Unilever (HUL), Bajaj Auto, Infosys, Nestle India and HCL Technologies were the top losers. (see heatmap below)

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

Among the sectors, the Nifty PSU Bank index jumped 6.85 per cent higher led by The Jammu & Kashmir Bank, Punjab National Bank and Bank of Baroda. The Nifty Metal index too rose 3.89 per cent led by MOIL, Hindustan Copper and National Aluminium Company.

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, the S&P BSE MidCap index ended at 12,554.16, up 220.87 points (1.79 per cent), while the S&P BSE SmallCap index settled at 11,855.17, up 290.38 points (2.51 per cent).

“Indian indices, led by financials, came back strongly from yesterday’s indecisiveness, amidst positive global cues. The global positive sentiment was driven by additional stimulus measures from ECB. Investors are banking on a global economic recovery, fuelled by central bank policy measures to support the respective economies. Investors need to be a bit cautious since valuations are running high and the expected recovery is not yet visible in the numbers,” Vinod Nair, Head of Research at Geojit Financial Services said in a statement after the market hours.

Rupee

The rupee surrendered all intra-day gains to provisionally close on a flat note at 75.58 against the US dollar on Friday as investors looked for cues to move forward and take positions.

At the interbank forex market, the rupee opened strong at 75.38, but later pared gains and finally settled at 75.58 against the US dollar, down 1 paisa over its last close of 75.57.

– with rupee inputs from PTI

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