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Domestic Markets ended the volatile session with minor gains; Nifty settles above 11,350 mark

Domestic Markets ended the volatile session with minor gains
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Domestic Markets ended the volatile session with minor gains

Highlights

After witnessing a volatile session, the key domestic markets bounced back from the lows of the day on Monday, September 7, 2020, to close with minor gains. Overall, advance and declines were also evenly poised indicating that markets appear to be getting into a consolidation mode.

After witnessing a volatile session, the key domestic markets bounced back from the lows of the day on Monday, September 7, 2020, to close with minor gains. Overall, advance and declines were also evenly poised indicating that markets appear to be getting into a consolidation mode.

As per the provisional closing data, the S&P BSE Sensex closed 60.05 points, or 0.16 per cent, up at 38,417.23. Similarly, the Nifty 50 added 21.20 points, or 0.19 per cent, to close at 11,355.05.

The market breadth was negative. On the BSE, 1230 shares rose and 1485 shares fell. On Nifty 50, 27 shares advanced and remaining 23 declined.

The Nifty Bank failed to move to the green zone and ended 66.45 points, or 0.29 per cent, down at 22.945.05.

Total COVID-19 confirmed cases worldwide were at 27,105,151 with 883,342 deaths. India reported 8,82,542 active cases of COVID-19 infection and 71,642 deaths while 32,50,429 patients have been discharged, data showed.

Bharti Infratel (up 5.72 per cent), HDFC Life (up 3.24 per cent), Dr Reddy's (up 2.23 per cent) and ITC (up 1.87 per cent) were gainers on Nifty 50, while Mahindra and Mahindra (down 3.59 per cent), UPL (down 2.82 per cent) and Bajaj Finance (down 2.47 per cent) were laggards.

Goodyear India slumped 7.321 per cent to Rs 946.65. Jubilant Life Sciences tumbled 6.18 per cent to Rs 778.30. NLC India rose 1.15 per cent to Rs 52.85. Repco Home Finance rose 4.99 per cent at Rs 181.90.

US employment growth slowed further in August and permanent job losses increased as money from the government started running out. Nearly a fifth of the job gains reported by the US Labour Department on Friday was from the government's temporary hiring for the 2020 Census. While the unemployment rate fell below 10 per cent, it was biased down by a continuing misclassification problem.

China's exports continued to expand in August, as the country's major trading partners gradually resumed business activities. Imports unexpectedly dropped. Exports rose 9.5 per cent in dollar terms in August from a year earlier to $235.3 billion, the third-highest month on record. Imports fell 2.1 per cent, data showed, leaving a trade surplus of $58.9 billion for the month. Economists had forecast exports would increase by 7.5 per cent.

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