Stock Market Highlights: Sensex, Nifty regain from earlier losses, settle over
Here are the key highlights from today’s trading session:
1. Frontline indices gain over 2% each; Nifty reclaims 11,000 & Sensex 37,000
2. Market regains 70% of previous day’s losses; 47 Nifty stocks higher
3. BSE gains market cap of Rs 3.4 lakh crore
4. Nifty gains 245 points to 11,050 & Sensex 835 points to 37,389
5. Nifty Bank advances 464 points to 20,982 & Midcap index 464 points to 16,504
6 All sectoral indices close in the green; Auto and IT top gaining indices
7. Bajaj Finserv, HCL Technologies, Cipla, Bharti Airtel top Nifty gainers
8. Infosys & TCS top contributors to Nifty followed by Reliance & ICICI Bank
9. Vodafone Idea surges 12% after Vodafone’s win in Rs 20,000 crore retro tax case
10. Kakinaka SEZ sale helps GMR Infra posts a gain of 11%
11. Amara Raja Batteries gains 3% on govt’s plan of $4.6 billion incentives for battery companies
12. Hero MotoCorp, Bajaj Auto & M&M move higher on talks of Harley partnership
13. Market Breadth favours advances; advance-decline ratio 9:2
Closing Bell: Sensex, Nifty end the week with gains, settles over 2%; only 3 stocks end in red, Bajaj Finserv top gainer
Indian equity indices Sensex and Nifty ended the week with gains and began the October series on a strong note.
The Sensex ended 835 points higher to 37,388.66 while the Nifty50 ended 244 points higher to 11,050. Broader markets settled in-line with the benchmarks, up 2 percent.
All sectors ended in green, with Nifty IT registering the most gains.
Only three stocks ended in red in Nifty50 index- SBI Life, BPCL and UPL. While top gainers included Bajaj Finserv, HCL Technologies, Cipla, Bharti Airtel and IndusInd Bank.
Vodafone Idea jumped over 11 percent after the telecom company won arbitration against India over the government’s retro tax demand of Rs 20,000 crore at the Permanent Court of Arbitration in Hague on Friday.
Accenture Q4 results miss estimates: What it means for the Indian IT sector, Nifty IT index up 3%
Information technology (IT) stocks surged on Friday with the Nifty IT index up 3 percent after Accenture announced its fourth-quarter results for fiscal 2020 (Q4FY20). All stocks in the Nifty IT index were positive with Coforge, HCL Tech, TCS, and Infosys leading with 3-3 percent gains.
Even though the company missed estimates, strong revival in new bookings and encouraging management commentary kept brokerages bullish on the IT space.
Accenture revenues fell 2 percent to $10.8 billion (YoY) in Q4 to $11.06 billion for the fourth quarter of fiscal 2019. The Q4 net income was $1.12 billion, compared with $1.15 billion for the fourth quarter last year. Read more
BPCL sale may be delayed to next fiscal year, worsening federal deficit woes: Sources
India’s efforts to privatise refiner Bharat Petroleum Corp. Ltd. could spill over into the next fiscal year, according to a government document and sources, hurting New Delhi’s efforts to rein in a ballooning fiscal deficit.
The privatisation of key companies, including BPCL, is a key part of government plans to pare the fiscal deficit, which has breached its target level just four months into the current fiscal year. Industry sources last year estimated the government’s 53.29 percent stake in BPCL could fetch USD 8 billion to USD 10 billion.
With India’s economy contracting by a record 23.9 percent in the June quarter due to COVID-19, a…
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