Banks Save The Day For Sensex, Nifty As RIL Drops 8.5%

Indian equity markets ended a volatile trading session little changed, after banking stocks managed to offset the biggest single-day fall in Reliance Industries Ltd. in over seven months.

The S&P BSE Sensex ended 0.4% higher at 39,757 while the NSE Nifty 50 index ended 10 points higher at 11,653.

The Nifty Bank index gained nearly 1,000 points in today's session, ending 4.1% higher at 24,892. All the constituents on the index, except IDFC First Bank, ended with gains. Four out of the top five Nifty gainers, were financial stocks. IndusInd Bank, ICICI Bank and Axis Bank gained 6% each while HDFC ended over 5% higher, post its second quarter earnings. The PSU Bank index also ended with gains of 3.4%.

The collective gains in banking stocks were able to offset the fall in Reliance Industries. The index heavyweight fell 8.7%, to end at its lowest level in three months.

Among other sectoral indices, I.T. and Pharma stocks were the top laggards. The Nifty I.T. index ended 0.9% lower while the Pharma index fell 0.6%.

Broader markets were mixed in today's session. The Nifty Midcap index managed to salvage gains of 0.4% while the Smallcap index ended 1.5% lower.

India Volatility Index ended off the session's high but 1.8% higher at 25.2.

1,126 stocks on the NSE ended with gains while 693 posted losses.

• Benchmark indices continue to fluctuate between gains and losses
• Nifty down 14 points at 11,628
• Sensex unchanged at 39,609
• Nifty Bank up 3.5% at 24,720
• Nifty Midcap index up 0.2%
• Nifty Smallcap index down 1.3%
• India Volatility Index up 3.2% to 25.54
• Nifty Realty and Nifty PSU Bank among top sectoral gainers; up 3.5% each
• Nifty Pharma is the top sectoral laggard; down 1%
• Nifty I.T. and Nifty Auto decline 0.7% each
• IndusInd Bank and ICICI Bank remain the top Nifty gainers; up over 6.5% each
• Reliance Industries remains the top sectoral laggard; down 7.5%
• 1,103 stocks on the NSE are trading with losses while 700 are gaining

• Benchmark indices pare losses; trading little changed
• Nifty down 0.2% at 11,621
• Sensex down 34 points at 39,573
• Nifty Bank up 2.6% to 24,533
• Nifty Midcap index unchanged
• Nifty Smallcap index down 0.9%
• India Volatility Index up 2.9% to 25.47
• Nifty Realty Index is the top sectoral gainer; up 3.2%
• Nifty PSU Bank extends gains; up 3%
• Nifty I.T. and Nifty Pharma are the top sectoral laggards; down 0.75% each
• IndusInd Bank remains the top Nifty gainer; up 6.4%
• Reliance Industries remains the top Nifty laggard; down 5.5%
• 1,011 stocks on the NSE are trading with loses while 731 are gaining

• Benchmark indices give up early gains to decline
• Nifty down 0.4% at 11,594
• Sensex down 0.4% at 39,465
• Nifty Bank up 2% at 24,367
• Nifty Midcap index up 0.1%
• Nifty Smallcap index unchanged
• India Volatility Index up 3.5% to 25.61
• Nifty PSU Bank index is the top sectoral gainer; up 2%
• Nifty Realty is the other major sectoral gainer; up 1.4%
• Nifty Pharma is the top sectoral laggard; down 0.9%
• IndusInd Bank is the top Nifty gainer; up 5.3%
• Reliance Industries is the top Nifty laggard; down 5.2%
• Reliance Industries sees biggest single-day fall in three months
• 681 stocks on the NSE are trading with gains while 997 decline

Indian equity markets are off to a positive start, supported by a rebound in equity markets across the Asia Pacific.

The S&P BSE Sensex has opened 0.7% higher at 39,880 while the NSE Nifty 50 index opened near the mark of 11,700 - up 0.5% at 11,697. Both benchmark indices fell over 2% last week.

The gains in ICICI Bank has led to the Nifty Bank index opening with gains of nearly 2%. The PSU Bank index too has opened 1.3% higher.

Among other indices, the Nifty Auto and Nifty Realty index have opened with gains of 0.8% each, while other indices are trading flat.

Broader markets are mixed at the start of trade. The Nifty Midcap index has opened with gains of 0.4% while the Smallcap index is declining 0.2% at the start of trade.

Good Morning!

Indian equity markets are bracing up for a volatile week as investors look forward to the outcome of the U.S. presidential election and the Federal Reserve policy meet later during the period.

The Sensex and Nifty 50 reported losses of more than 2% for the week ended Oct. 30 as they continued to face resistance at higher levels.

Futures are pointing towards a flat start to the day's trade. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.2% to 11,662 as of 8:10 a.m. on Monday.

Nifty 50 constituents like Reliance Industries, ICICI Bank, UPL, IndusInd Bank may react to their quarterly results reported after market hours on Friday and over the weekend. Broader market names like Deepak Nitrite, Sheela Foam, Rain Industries and IFB Industries, among others, will also be in focus.

Among the Nifty 50 companies set to announce financials today are HDFC and NTPC. The broader market list includes firms like Zee Entertainment, Bandhan Bank, Cadila Healthcare, Ramco Cements, Wockhardt and Whirlpool.

Asian markets are currently trading higher in a volatile start to trade. Japanese markets are outperforming. Futures on the Dow Jones have reversed losses and are currently trading higher by 40 points.

West Texas Intermediate crude fell to a five-month low of $34.63 per barrel, down over 3%, while gold held gains at $1,881.5/Oz.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.