scorecardresearch
Follow Us:
Friday, October 23, 2020

Sensex ends 95 points higher, Nifty settles at 11,248 led by FMCG stocks

The S&P BSE Sensex rose 94.71 points (0.25 per cent) to end above the 38,000-level mark at 38,067.93. Likewise, the broader Nifty 50 climbed 25.15 points (0.22 per cent) to settle at 11,247.55. On a month-on-month basis, the Sensex declined 1.45 per cent during the month of September while Nifty slipped 1.23 per cent.

By: Express Web Desk | New Delhi | Updated: September 30, 2020 4:05:29 pm
Pedestrians wearing protective masks walk past the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. (Photographer: Dhiraj Singh/Bloomberg)

After a highly volatile session of trade, the benchmark equity indices on the BSE and National Stock Exchange (NSE) ended marginally higher on Wednesday aided by gains in fast-moving consumer goods (FMCG) stocks.

The S&P BSE Sensex rose 94.71 points (0.25 per cent) to end above the 38,000-level mark at 38,067.93. Likewise, the broader Nifty 50 climbed 25.15 points (0.22 per cent) to settle at 11,247.55. Both the indices had opened on a muted note earlier in the day and witnessed a see-saw movement during the session.

On a month-on-month basis, the Sensex declined 1.45 per cent during the month of September while Nifty slipped 1.23 per cent.

Gains on the 30-share BSE benchmark were led by IT major Tech Mahindra which rose 2.84 per cent on Friday. It was followed by Titan Company, FMCG giants Nestle India and Hindustan Unilever (HUL) and HDFC twins – HDFC Bank and Housing Development Finance Corporation (HDFC).

Sectorally, the Nifty FMCG index was the top gainer on Friday rising 1.34 per cent led by Godrej Consumer Products, Dabur India, Nestle, Britannia Industries and HUL.

In the broader market, however, the S&P BSE MidCap index ended just 7.90 points (0.05 per cent) higher to settle at 14,705.17, while the S&P BSE SmallCap was inched up by just 6.18 points (0.04 per cent) to end at 14,867.36.

Rupee

The rupee settled 10 paise higher at 73.76 (provisional) against the US dollar on Wednesday, supported by positive domestic equities.

At the interbank forex market, the domestic unit opened at 73.81 against the US dollar and finally closed at 73.76 against the American currency, registering gain of 10 paise over its previous close.

Global market

US equity futures fell and safer assets like the yen and dollar found buyers on Wednesday after a chaotic first US presidential debate turned investors cautious, though strong factory surveys gave a boost to Chinese shares.

President Donald Trump and Democratic rival Joe Biden sparred over Trump’s leadership on the coronavirus pandemic, the economy and the integrity of November’s election in exchanges marked by Trump’s repeated interruptions.

US stock futures ground higher in Asian time during the debate but then retreated after Trump cast doubt on whether he would accept the election’s outcome.

S&P 500 futures were last 0.6 per cent lower, with Dow Jones and Nasdaq 100 futures down by as much as 1 per cent.

European markets looked set to follow, with FTSE futures falling 0.4 per cent and Euro STOXX 50 futures down 0.6 per cent.

Markets in Asia, most of which are headed for their worst month since March, either deepened losses or pulled back from highs made after data showed China’s economic recovery remains on track.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, led by a 1.2 per cent gain in Hong Kong. Japan’s Nikkei fell 1 per cent and Australia’s S&P/ASX 200 fell nearly 2 per cent.

– with rupee inputs from PTI, global market from Reuters

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement