Indian Financial market recovering the last session’s losses trades high in today’s session reclaiming the primary levels. BSE Sensex climbs 408 points to end at 36737 nearing the 37000 standards. At the same time, NSE Nifty50 ended the trade at 10813 surging by 107 points crossing the 10800 basic levels. Bulls pushed the market to end high with positive cues from global as well as domestic market operations.
Prime Minister Narendra Modi delivered an inaugural speech at India Global Week 2020 inviting global investors to the country. He also added, India being one of the open economies, has the spirit to achieve the impossible. The address uplifted the market sentiments and taking positive cues from global equity markets; the domestic market witnessed a decisive run. Rising Coronavirus cases could not hinder the positivity of market recovery and high hopes. The rupee fell slight low against the US Dollar index with rising crude prices.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, PTL Enterprises surged the highest by 20%. Other top gainers include MSTC, Jonjua Overseas and Kothari Ferment rising by 19.97%, 19.30% and 13.59% respectively. In the NSE market, MSTC rose the highest by 20%. Following that, by Oricon Enterprises, Ramky Infra and DB Corporation surges by 19.76%, 18.56% and 10.31% respectively.
On BSE Sensex index, Bajaj Finance tops the list by 3.93%. Other gainers include HDFC, HCL Tech, Axis Bank and Reliance industries gaining 3.05%, 2.37%, 2.16% and 1.52% respectively. On NSE Nifty50 index, Hindalco soars the most by 6.32%. Subsequently, SBI, GAIL, M&M and Bharti Airtel rose by 3.75%, 2.78%, 1.64% and 1.31% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Bothra Metals loses the highest by 20%. Other top losers include Evan Electric, Advitiya Trade and Dhunseri Investments losing by 11.65%, 10% and 7.32% respectively. In the NSE market, Gayatri Highway drops the most by 14.29%. Alongside, Uttam Value, Kamat Hotels and Manali Petro decreased by 7.69%, 7.40% and 6.44% respectively.
On BSE Sensex index, eight stocks in total declined while others gained. ONGC topped the list by 1.66%. Other losers include Tech Mahindra, TCS, HUL and Sun Pharma slipping by 1.22%, 0.60%, 0.45% and 0.40% respectively. On NSE Nifty50 index, Bharti Infratel slumps the most by 2.19%. Also, Coal India, Hero Moto Corp, Maruti Suzuki and Britannia lost by 1.84%, 1.02%, 0.70% and 0.31% respectively.
FII and DII
Foreign Institutional Investors invested a net value of INR 212.77 crores tracking a decisive rally of the domestic equity market. Foreign investors bought a total of INR 4516.59 crores and sold-off INR 4303.82 crores during the session, making a positive impact.
Domestic Institutional Investors withdrew INR 803.39 crores from the equity market booking profits over uncertainty. Local investors bought stocks of value INR 2872.1 crores and disposed-off INR 3675.49 crores worth of shares making a negative impact despite a decisive run on today’s session.