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Sep 30, 2020 03:43 PM IST | Source: Moneycontrol.com

Closing Bell: Sensex, Nifty end higher amid high volatility; FMCG stocks gain

Mixed trend seen among the sectoral indices with FMCG, IT and pharma ended in the green, while metal, energy and infra sectors finished lower.

  • September 30, 2020 04:33 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    As expected, benchmark indices remained volatile throughout the day, fluctuating between losses and gains before finally ending the day flat. Global cues were mostly negative, following caution over the outcome of US presidential elections and also because of rising virus cases around the world. Traders are advised caution as markets are expected to remain volatile.

  • September 30, 2020 04:33 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities: 

    Index closed a day on flattish note for second consecutive day at 11226 and formed a doji candle pattern on daily chart hinting uncertainty in the markets. index has strong resistance near 11300 zone any break above said level can active good momentum which can push index to next hurdle zone of 11400, good support is coming near 11200-11120 zone overall index may trade in consolidation and range would be 11200-11300 zone. Nifty bank also closed a day on flat note at 21415, supports are placed at 21170-21000 zone and resistance is coming near 21700-22000 zone.

  • September 30, 2020 03:47 PM IST

     Hariharan, Head - Sales Trading, Emkay Global Financial Services:
     
    Markets tested major support at 200-DMA on Nifty & NSE500 and rebounded from there over the last few sessions - this rally has been supported by the return of net buy flows from domestic institutional investors after a gap of nearly 2 months. Given the backdrop of elevated redemptions from domestic mutual funds over the last few months, this turn in flow environment speaks to ebbing of redemption pressures.
     
    Relative to large-caps, small-caps and mid-caps have shown stronger resilience and market breadth is currently near a 2-1/2 year high. While the bounce of broader indices from 200-DMA mirrors behaviour seen at end-Jan '20, market breadth is much stronger currently. Among sectoral indices, FMCG index displays bullish signs having reclaimed its 200-DMA after a drop into oversold territory.

  • September 30, 2020 03:41 PM IST
  • September 30, 2020 03:35 PM IST

    Market Close: In the highly volatile session the benchmark indices ended with marginal gains on September 30 supported by the FMCG and IT stocks.

    At close, the Sensex was up 94.71 points or 0.25% at 38067.93, and the Nifty was up 25.10 points or 0.22% at 11247.50. About 1196 shares have advanced, 1370 shares declined, and 151 shares are unchanged.

    Grasim Industries, Titan Company, Tech Mahindra, Nestle and Dr Reddys Labs were among major gainers on the Nifty, while losers included BPCL, Bharti Airtel, Tata Steel, JSW Steel and IndusInd Bank.

    Mixed trend seen among the sectoral indices with FMCG, IT and pharma ended in the green, while metal, energy and infra sectors finished lower.

  • September 30, 2020 03:28 PM IST

    Likhitha Infra IPO subscribed 2.4 times:

    The public issue of Hyderabad-based Likhitha Infrastructure, an oil & gas pipeline infrastructure service provider, has witnessed good response from investors as it has subscribed 2.4 times on the second day of bidding, i.e. September 30.

    The Rs 61.2-crore IPO has received bids for 1.24 crore equity shares against offer size of 51 lakh shares, the data available on the exchanges showed

  • September 30, 2020 03:23 PM IST

    BPCL slips 9% after stake-sale deadline extended:

    Bharat Petroleum Corporation (BPCL) shed over 9 percent and was the biggest Nifty50 loser on September 30 after the government extended the deadline for selling a stake in the company the fourth time.

    The government extended to November 16 the deadline for submission of expression of interest (EoI) for selling its stake in the company, Economic Times.

    This is the fourth time the government has given more time to potential bidders, owing to the Covid-19 pandemic. The previous deadline was to end September 30.

  • September 30, 2020 03:08 PM IST

    UTI AMC IPO subscribed 53%:

    The Rs 2,160-crore initial public offering (IPO) of UTI Asset Management Company has been subscribed only 53 percent on September 30, the second day of bidding. The issue closes October 1.

    The UTI AMC IPO received bids for 1.46 crore equity shares against an offer size of 2.73 crore equity shares, the data available on exchanges showed. The price band has been fixed at Rs 552-554 per share.

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