Markets

News Details

( 16 Sep 2020)
Post-Session: Sensex ends 258 pts up; Nifty reclaims 11,600

Domestic equity benchmark Sensex jumped 258 points on Wednesday following gains in HDFC Bank, Infosys and M&M amid sustained foreign fund inflows.

M&M was the top gainer in the Sensex pack, climbing over 4 per cent, followed by Bajaj Auto, Sun Pharma, HDFC Bank, Infosys, L&T and UltraTech Cement.

On the other hand, IndusInd Bank, NTPC, SBI, Axis Bank, Bharti Airtel and ONGC were among the laggards.

According to traders, stock-specific action and sustained foreign fund inflows drove domestic equities higher, despite mixed cues from global markets ahead of the US Federal Reserve's policy outcome.

Foreign institutional investors bought equities worth Rs 1,170.89 crore on a net basis on Tuesday, exchange data showed.

Further, Reserve Bank Governor Shaktikanta Das' assurance to the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth too lifted market sentiment, traders said.

The 30-share benchmark index ended at 39302.85 up by 258.5 points or by 0.66 % and then NSE Nifty was at 11604.55 up by 82.75 points or by 0.72 %.

Sensex touched intraday high of 39359.51 and intraday low of 39037.96 The NSE Nifty touched intraday high of 11618.1 and intraday low of 11516.75

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 637.90,+3.96%), Bajaj Auto Ltd. (Rs. 3042.00,+3.44%), Sun Pharmaceutical Industries Ltd. (Rs. 518.70,+2.50%), HDFC Bank Ltd. (Rs. 1093.50,+2.11%), Infosys Ltd. (Rs. 1001.05,+1.95%), among others.

The top losers of the BSE Sensex pack were IndusInd Bank Ltd. (Rs. 622.10,-1.80%), NTPC Ltd. (Rs. 89.70,-1.43%), State Bank of India (Rs. 198.25,-0.95%), Oil And Natural Gas Corporation Ltd. (Rs. 73.10,-0.88%), Bharti Airtel Ltd. (Rs. 481.65,-0.83%), among others.

Among the sectors, Realty index was at 1790.94 up by 41.39 points or by 2.37%. DLF Ltd. (Rs. 163.60,+5.21%), Prestige Estates Projects Ltd. (Rs. 264.90,+3.90%), Oberoi Realty Ltd. (Rs. 420.30,+3.04%), Sunteck Realty Ltd. (Rs. 287.95,+2.56%), Phoenix Mills Ltd. (Rs. 639.65,+1.15%),.

PSU index was at 4901.57 down by -27.1 points or by -0.55%. Steel Authority of India (SAIL) Ltd. (Rs. 37.95,-3.68%), Jammu & Kashmir Bank Ltd. (Rs. 17.30,-2.54%), Rites Ltd. (Rs. 249.60,-2.44%), UCO Bank (Rs. 13.51,-2.31%), Oil India Ltd. (Rs. 93.95,-1.83%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3191 , shares advanced were 1547 while 1411 shares declined and 233 were unchanged.