Sensex, Nifty End Off Day’s High But With Gains
Employees work in front of computers inside an Axis Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty End Off Day’s High But With Gains

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Markets At Close

  • Benchmark indices end off the day's high but with gains
  • Nifty ends 1.4 percent higher at 9,282
  • Nifty futures trade at a premium of 21 points
  • Sensex ends 1.3 percent higher at 31,743
  • Nifty Bank ends 2.5 percent higher at 20,081
  • Nifty Midcap Index ends 1.5 percent higher
  • Nifty Smallcap Index ends at 0.8 percent higher
  • India Volatility Index ends 3 percent lower at 37.93
  • Nifty I.T. Index ends 2.4 percent higher
  • Nifty FMCG (Up 1.45 percent), Nifty Metal (Up 1.3 percent) and Nifty Realty (Up 1.35 percent) among other gainers
  • Britannia ends as the top Nifty gainer; up 7 percent
  • NTPC ends as the top Nifty laggard; down 1.1 percent
  • 1,076 stocks ended the day with gains while 731 declined

Contributors To Nifty's Gains

Closing Bell: Last Hour Dampens Healthy Gains

Indian equity markets ended the first trading day of the new week with gains, albeit off the highest point of the day.

The S&P BSE Sensex ended at 31,743 gaining 1.3 percent during the day. The index fell 360 points from its day's high of 32,103.

The NSE Nifty 50 index too fell nearly 100 points from its day's high of 9,377 to end at 9,282 up by 1.4 percent. 42 out of the 50 index constituents ended with gains.

All Sectoral Indices ended the day with gains with the Nifty Bank and the Nifty I.T. index ending with gains of 2.5 percent each. Nifty Auto, Nifty FMCG and Nifty Metal gained over 1 percent, as did the Nifty Realty index.

1,076 stocks on the NSE ended the day with gains while 731 reported losses.

Stock Update: Aarti Industries

  • Among the best performers on the Nifty 500 Index
  • Gains as much as 9.5 percent to Rs 1,014.90
  • Biggest single-day gain in three months
  • Trades at the highest level in two months
  • Today's volumes are 2.5 times higher than its 30-day average
  • The stock trades at 25.7 times estimated forward Earnings Per Share as compared to its two-year historical average of 22.3 times
  • 16 out of the 20 analysts tracking the stock have a buy recommendation; 0 sell calls
  • The stock has surpassed its 12-month Bloomberg consensus price target of Rs 1,009

India Mulls Guaranteeing New Small-Business Loans

The government is considering a proposal to guarantee loans as much as Rs 3 lakh crore to small businesses as part of a plan to restart Asia's third largest economy, as per a Bloomberg report citing people with knowledge of the matter.

Under the proposal, small businesses will be eligible for an additional 20 percent of their outstanding credit limit.

Former Economic Affairs Secretary Subhash Chandra Garg wrote in a blog that over 100 million workers in mining, construction, manufacturing and services have been rendered jobless due to the nationwide lockdown.

Impact Of Franklin Templeton Winding Down Six Debt MF Schemes

The Association of National Exchanges Members of India or ANMI has written to the Finance Ministry and market regulator SEBI on the issue of Franklin Templeton winding down six of its debt schemes.

ANMI has sought:

  • Appointment of a High-Power Committee to take over the management of Franklin Templeton MF
  • Examine the investment decisions of Franklin Templeton MF
  • Safeguard further erosion of investor wealth; and
  • Recover investment of investors in a time bound manner in the six schemes
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