Home Markets Markets Turn Green By The Closing Bell; Sensex At 40,794, Nifty Close To 12,000-Mark

Markets Turn Green By The Closing Bell; Sensex At 40,794, Nifty Close To 12,000-Mark

by Aamar Deo Singh (Head Advisory, Angel Broking Ltd)
Oct 14, 2020
Markets Turn Green By The Closing Bell; Sensex At 40,794, Nifty Close To 12,000-Mark, Market, KonexioNetwork.com

With a push from the financial sector, the stock markets have secured their 10th consecutive day bull-run after trailing throughout the day. The markets observed considerable momentum in the final hour and a half. Nifty 50 added about 110 points from 2 PM and closed at 11,971 or 0.31% higher, while Sensex gained 387 points during this period to end at 40,794 points (0.42%) by the closing bell.

Banking stocks were up following a favorable judgment by the Hon’ble Supreme Court on the moratorium issue. The move, supported by good Q2 results, added thrust to the banking stocks and the market at large.

Top Gainers:

At Sensex, the gains were led by Bajaj Finserv at 3.87% and Bajaj Finance at 3%, followed by ICICI Bank (2.69%), IndusInd Bank (2.34%), and SBI (2.25%). On the other hand, the 50-stock barometer Nifty 50 saw Bajaj Finserv (3.96%), SBI Life Insurance (3.06%), and Bajaj Finance (3.04%) leading the same. L&T (2.09%), Tata Steel (1.95%), and Grasim Industries (1.89%) were also amongst the highest gainers.

Top Losers:

At Nifty, the losses were led by Wipro which tumbled by 6.78% during the day trade. Power stocks including NTPC, ONGC, Coal India, and Power Grid were also down by 4.3%, 3.04%, 2.9%, and 2.12% respectively during the closing bell. They were also amongst the top losers at Sensex followed by IT stocks such as Tech Mahindra (2.13%), Infosys (1.89%), and HCL Technologies (1.15%). Nestle performed a Doji with a 0.01% change at BSE.

Volume:

At Nifty, Wipro, NTPC, Tata Motors, and SBI were amongst the heavily traded stocks. Stocks such as Nestle India and Shree Cement did not pique the interest of investors.

Global markets:

The global markets largely traded sideways amid uncertainty over the relief package by the U.S.

KOSPI and SSE Composite closed 0.94% and 0.56% lower while Hang Seng and Nikkei stayed put at 0.07% and 0.11% in the green.

Dollar vs INR:

Rupee witnessed a 34 paisa gain against the U.S. dollar with a strong resistance around the level of 73.37 to 73.40. It finally closed at INR 73.29 against the dollar.