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Key benchmark indices ended with small gains; Sensex gains 144 points to end at 39,758 & Nifty rises 27 points to 11,669

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Key benchmark indices ended with small gains; Sensex gains 144 pts to end at 39,758 & Nifty rises 27 pts to 11,669

Highlights

Equity benchmarks on Monday, November 2, 2020, logged modest gains in sync with a rise in global stocks. The BSE 30-share index, Sensex climbed 143.51 points or 0.36 per cent to settle at 39,757.58. The NSE Nifty-50 index also rose 26.75 points or 0.23 per cent to settle at 11,669.15, while the Nifty Bank rose 991.60 points or 4.15 per cent, to 24,892.50.

Equity benchmarks on Monday, November 2, 2020, logged modest gains in sync with a rise in global stocks. The BSE 30-share index, Sensex climbed 143.51 points or 0.36 per cent to settle at 39,757.58. The NSE Nifty-50 index also rose 26.75 points or 0.23 per cent to settle at 11,669.15, while the Nifty Bank rose 991.60 points or 4.15 per cent, to 24,892.50.

At the broader market at BSE, the BSE Mid-Cap closed 0.36 per cent up while the BSE Small-Cap index depreciated 0.71 per cent.

Sellers outnumbered buyers. On the BSE, 1099 shares rose and 1562 shares fell. On similar lines, 23 shares advanced on Nifty 50 and 26 declines while one remains unchanged. The top five gainers on Nifty 50 were IndusInd (up 6.45 per cent), ICICI Bank (up 6.02 per cent), Axis Bank (up 5.97 per cent), HDFC (up 5.13 per cent) and Bharti Airtel (up 5.03 per cent). The main losers were Reliance (down 8.69 per cent), Divis Lab (down 2.77 per cent), Eicher Motor (down 2.52 per cent), HCL Tech (down 2.35 per cent) and TCS (down 2.13 per cent).

The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose to 58.9 in October, from 56.8 in September. The data pointed to the strongest improvement in the health of the sector in over a decade.

Growth was led by the intermediate goods category, but there were also robust expansions in the consumer and investment goods sub-sectors. Meanwhile, the Goods and Services Tax (GST) collections in October stood at over Rs 1.05 lakh crore, crossing for the first time Rs 1 lakh crore mark since February this year. The gross GST revenue collected in October 2020 is Rs 1,05,155 crore, showing an increase of 10% over Rs 95,379 crore in October 2019.

The British government on Saturday announced a national lockdown for England, making it the latest country to return to a nationwide shutdown, which begins on Thursday, to try to stem the rapid rise in cases and hospitalisations due to the virus.

China's Caixin/Markit Purchasing Managers' Index (PMI) came in at 53.6 for October, as China's factory activity expanded for the sixth straight month in October as business confidence grew to its strongest in years. The Monday data release came after China's official manufacturing PMI for October came in at 51.4, data showed. That was slightly lower than the 51.5 reading in September.

On the US data front, personal income rose 0.9 per cent in September, while consumer spending increased by 1.4 per cent. The final October reading of the University of Michigan's consumer sentiment index edged up to 81.8 in October from an initial 81.2.

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