Today’s Share Market Updates: Top Nifty gainers and losers 

 

Today’s Market Updates: Indian share markets opened in green but erased all early gains in the last hour. The Bank Nifty fell shapely and dragged the market in the red zone. In the end, the market recovered most of its losses and closed marginally lower. The Bank Nifty was trading volatile in the last hour and closed lower by more than 1% today.

The market sentiment was positive in the morning with the report that the Reserve Bank of India (RBI) will purchase government securities under open market operations (OMOs) for an aggregate amount of Rs 10,000 cr on September 24.2020. Some support also came with the report that the Employees State Insurance Corporation (ESIC) subscribers who lost their job due to the COVID-19 pandemic can claim unemployment relief of 50 percent of their wages under Atal Bimit Kalyan Yojana.

Meanwhile, the government has permitted foreign direct investment (FDI) of up to 74 percent under the automatic route in the defence sector in order to attract overseas investors. Earlier it was 49% and beyond that government’s approval used to require.

On the global front, other Asian markets mostly closed in the green today The European markets are flat as the resurgence of coronavirus cases across the continent raising concerns about its impact on economic recovery. The US markets index Dow and Nasdaq futures are also trading flat today.

 

Today’s share market updates at close

 

At the close, Nifty was down by 11.15 points or 0.09% and at 11504.95 levels while Sensex declined 134.03 points or 0.34% and at 38845.82 levels. The Bank Nifty was highly volatile in the last hour closed lower by 289.30 points or 1.29% and at 22031.05 levels.

The Nifty midcap and smallcap also closed marginally lower today. The midcap index was down by 11.50 points or 0.07% and at 17399.45 levels. The Nifty smallcap index declined by 26.45 points or 0.44% and closed at 5991.50 levels.

The top five Nifty index gainers for the day are Dr. Reddy’s Lab, Cipla, Adani Ports, Bharti Airtel, and Grasim. The losers in the Nifty index are HDFC Bank, Kotak Mahindra Bank, Bajaj Finserv, Shree Cement, and Maruti Suzuki. The most active stocks for the day in NSE were Dr. Reddy, Reliance, and ICICI Bank.

On a sectoral front, Healthcare, Telecom, Infrastructure, Chemical, and Power sectors closed in the green today. On the losing side Banking & Finance, Consumer Durables, Manufacturing, FMCG, and Metals sectors closed in the red today.

 

 Share Market in F&O today: Nifty & Bank Nifty futures 

 

The Nifty futures opened at 11575.60, and it made a positive opening of 53.2 points today. It has touched an intraday high at 11599 and a day’s low at 11455.50

The Nifty futures has given a movement of 143.5 points. In the end, it declined 2.9 points and closed absolutely flat at 11519.50 levels.

The NSE banking index Bank Nifty futures opened at 22391.35. It was made a flat opening of 0.6 points down. It has touched an intraday high at 22520 and a day’s low at 21808.10

During the day, the Bank Nifty futures has given a movement of 711.9 points. In the end, it declined by 267.95 points or 1.20% and closed at 22124 levels.

 

Conclusions:

Indian share market today closed marginally lower after the last hour volatility. The Bank Nifty has dragged down the market and later recovered some of its losses. The news of FTSE adding more stocks or increasing weights of existing ones as part of the rebalancing of its Global Equity Index Asia Pacific ex-Japan and China has created volatility in the market today.

You can read “weekly market updates” and “key factors that will influence the market for next week” tomorrow on our website.

 

You may be interested to read, Nifty50 Stocks list | Index | Share price

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Happy weekend !!

Editor’s Desk