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Markets closed after a stellar performance; Sensex climbs 629 points to close at 38,697 & Nifty settles at 11,417
Benchmark domestic stocks markets closed with a stellar gain on Thursday, October 1, 2020.
Benchmark domestic stocks markets closed with a stellar gain on Thursday, October 1, 2020. They gained more than one and a half per cent amid positive global cues.
The Sensex at Bombay Stock Exchange climbed 629.12 points, or 1.65 per cent, to close at 38,697.05. The Nifty at National Stock Exchange also surged 169.40 points, or 1.51 per cent, to settle at 11,416.95. Similarly, Nifty Bank rallied 794.20 points, or 3.70 per cent, to 22,246.
The broader market at BSE underperformed the Sensex. The Mid-cap rose 0.73 per cent and Small-cap appreciated 0.69 per cent.
The market breadth was positive. On the BSE, 1545 shares rose and 1125 shares fell. Similarly, on Nifty 50 block, 39 shares advanced and 11 declined. The major gainers on Nifty were IndusInd Bank (12.44 per cent), Bajaj Finance (down 5.04 per cent), Axis Bank (up 4.10 per cent), Bajaj Auto (up 4.09 per cent) and ICICI Bank (up 3.88 per cent). The major losers were Dr Reddy (down 1.31 per cent), ONGC (down 0.51 per cent), ITC (down 0.47 per cent), NTPC (down 0.41 per cent) and Titan (down 0.40 per cent).
The Union Ministry of Home Affairs (MHA) on September 30, 2020, announced the Unlock 5.0 guidelines, further relaxing curbs on activities outside of containment zones. Cinemas, theatres and multiplexes will be permitted to open with up to 50 per cent of their seating capacity from October 15, 2020, in areas outside the containment zones. For the reopening of schools and coaching institutions, state and union territory governments have been given the flexibility to decide after October 15, 2020, in a graded manner.
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) increased from 52 in August 2020 to 56.8 in September 2020, signalling back-to-back improvements in the health of the sector. Moreover, the latest reading was the highest in over eight-and-a-half years.
Computer Age Management Services (CAMS) closed at 1401.60 on the BSE, a premium of 14.11 per cent over the initial public offer (IPO) price of Rs 1230 and 7.67 per cent down from the listing price of Rs 1518 per share. Chemcon Speciality Chemicals closed at Rs 584.80 on the BSE, a premium of 72 per cent over the IPO price of Rs 340 and 19.99 per cent down from the listing price of Rs 731 per share.