Sensex, Nifty Drift On Thin Volumes After Mumbai Hit With Power Outage
A bronze bull statue stands at the entrance to the BSE building in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Sensex, Nifty Drift On Thin Volumes After Mumbai Hit With Power Outage

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Closing Bell: Sensex, Nifty Gain For Eighth Straight Session

The Sensex eroded an advance of as much as 1% as the power outage disrupted trading activity, while the nation’s biggest stock exchanges continued to function normally.

The Sensex added 0.2% to 40,593 at close in Mumbai, while the NSE Nifty 50 Index rose 0.1% to 11,930. Both measures on Friday completed their best week since early June and are close to erasing year-to-date losses.

Four of the 19 sector indexes compiled by BSE Ltd. rose, led by a gauge of IT companies. Infosys Ltd. added 2.2% and contributed the most to the Sensex’s advance, while Bharti Airtel Ltd. was the biggest drag and dropped 2.3%.

Also read: Biggest Mumbai Power Outage in Decades Hits Trading Volume

Rupee Ends Weaker

Sensex, Nifty Drift On Thin Volumes After Mumbai Hit With Power Outage

Earnings Reaction: GTPL Hathway Q2FY21

  • Revenue down 7% to Rs 575.6 crore
  • Net profit up 43% to Rs 49.9 crore
  • Ebitda up 9% to Rs 129.8 crore
  • Ebitda margin at 22.6% from 19.3%
  • Subscription revenue up 3% to Rs 267.7 crore
  • Broadband revenue up 68% to Rs 67 crore
  • EPC contract revenue at Rs 78.3 crore
  • All numbers are consolidated and compared on a year-on-year basis

Shares gained as much as 194% to Rs 138.9 - the highest level since May 2018. The stock is up for the third straight day and has gained 30% during this period.

F&O Snapshot: Active Options Contracts

  • Nifty October futures add 4.3% and 4.9 lakh shares in Open Interest.
  • Nifty Bank October futures add 18.2% and 2.9 lakh shares in Open Interest.

Nifty: October 15 Expiry

  • 12,000 Call: Premium up 8.4% to Rs 79.45. The contract has added 20 lakh shares in Open Interest.
  • 11,900 Call: Premium down 4.5% to Rs 96.4. The contract has added 4.5 lakh shares in Open Interest.
  • 12,100 Call: Premium up 12.2% to Rs 44.1. The contract has added 9.2 lakh shares in Open Interest.

Nifty Bank: October 15 Expiry

  • 23,500 Call: Premium up 9.1% to Rs 271.85. The contract has added 1.26 lakh shares in Open Interest.
  • 24,500 Call: Premium down 7.8% to Rs 143.5. The contract has added 4.9 lakh shares in Open Interest.
  • 24,000 Call: Premium down 12.6% to Rs 294.2. The contract has added 4.4 lakh shares in Open Interest.

Indian Broker Outpaces Rivals

Tiger Global Management-backed RKSV Securities India became the second biggest broker in the country after doubling the number of its customers to 1.2 million in six months to September, Bloomberg News reports.

Top online broker Zerodha also reported a 75% growth in clients to 2.5 million, according to data compiled by the National Stock Exchange.

In comparison, traditional brokers like ICICI Securities and HDFC Securities saw meager additions.

“The golden days are still ahead,” Ravi Kuma, who co-founded RKSV Securities told Bloomberg.

“People working from home is allowing them more time to manage their finances and that is enabling us to open more accounts,” he said.

European Markets Open Flat

Benchmark indices in Europe have opened with a positive bias, gaining for the third straight day, as ECB dovishness is aiding risk sentiment in the market.

The Stoxx 600 has opened 0.2% higher with telecom and banking stocks leading the gains. Energy stocks are underperforming.

Asian markets have ended mixed while futures on the Dow Jones are trading little changed.

Brent Crude is trading 1% lower at $42.42 per barrel while Gold is little changed at $1,926/Oz.

Let's take a look at how European markets are trading:

  • Euro Stoxx 50 up 0.2% at 3,278
  • DAX up 0.3% at 13,091
  • CAC up 0.1% at 4,953
  • FTSE 100 down 0.2% at 6,006
  • IBEX 35 up 0.2% at 6,967
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