Markets

Sensex ends 113 points higher; HCL Tech spurts 4%

A view of the BSE building in Mumbai. File   | Photo Credit: Paul Noronha

Equity benchmarks Sensex and Nifty notched up gains for the third straight session on October 20, led by IT stocks and HDFC Bank amid a rebound in the global markets.

The 30-share BSE Sensex settled 112.77 points or 0.28% higher at 40,544.37. The broader NSE Nifty rose 23.75 points or 0.20% to 11,896.80.

HCL Tech was the top gainer in the Sensex pack, rallying 4.19%, followed by Tech Mahindra, Asian Paints, Bharti Airtel, HDFC Bank, L&T, Infosys, TCS, M&M and Nestle India.

On the other hand, ONGC, PowerGrid, NTPC, Reliance Industries, HDFC, Tata Steel, ICICI Bank and Kotak Bank were among the major laggards, tumbling up to 2.67%.

HUL ended 0.31% lower after the FMCG major reported an 8.58% increase in consolidated net profit to ₹1,974 crore for the September quarter.

Global markets staged a modest recovery after overnight fall on Wall Street, even as sentiment remained risk-averse ahead of the US elections.

“Indian markers broadly traded rangebound and ended with marginal gains amid mixed global cues. Baring FMCG and metals, all sectoral indices broadly ended in green albeit marginally. As expected, cement stocks remained in focus today after solid performance reported by ACC. IT stocks witnessed sharp recovery today after witnessing profit booking for last couple of days.

“We believe investors would be keenly watching out PM’s address to nation today. Additionally, progress on fiscal stimulus renegotiation in the US would be crucial for global as well as domestic markets,” said Arjun Mahajan, Head - Institutional Business at Reliance Securities.

BSE realty, telecom, teck, IT, consumer durables, capital goods, industrials and auto indices climbed as much as 3.77%, while oil and gas, energy, power, utilities and FMCG indices fell up to 1.30%.

In the broader markets, BSE midcap and smallcap indices gained up to 0.47%.

In rest of Asia, bourses in Shanghai, Hong Kong and Seoul ended on a positive note, while Tokyo settled in the red.

Stock exchanges in Europe were largely trading with gains in early deals.

Meanwhile, international oil benchmark Brent crude was trading 0.33% lower at $42.48 per barrel.

On the forex market front, the rupee depreciated by 12 paise to close at 73.49 against the U.S. dollar.

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Printable version | Dec 5, 2020 9:03:55 AM | https://www.thehindu.com/business/markets/sensex-ends-113-points-higher-hcl-tech-spurts-4/article32901290.ece

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