Domestic indices surpass global indices

Domestic benchmark indices ended today's trading session on a positive note as BSE Sensex rallied by 290.36 or 0.86 per cent to reach the level of 34,247.05 while its NSE counterpart Nifty gained by 69.50 points or 0.69 points to settle at 10,116.15.

Global markets remained cautious as investors are awaiting the outcome of the latest policy meeting and economic forecast of US Federal Reserve. Consequently, European indices were witnessed trading with weaker sentiments as FTSE 100, CAC 40 and DAX were down by 0.55 per cent, 0.73 per cent and 0.98 per cent respectively. Paying heed to warnings by OECD of the Coronavirus possibly leading to the worst recession in a 100 years and cautions of a second wave of COVID-19 infections, which will eventually result in contraction of the global economy, Asian indices such as Shanghai and Hang Seng closed in red, trading lower by 0.42 per cent and 0.030 per cent respectively.

In the trading session today, Sensex gained as a result of last-minute buying seen in RIL and financial stocks. The index gainers comprised RIL up by 2.27 per cent, IndusInd Bank gaining by 7.93 per cent, Kotak Mahindra Bank increasing by 2.34 per cent, HDFC rising by 2.17 per cent, Axis Bank which went up by 1.88 per cent, SBI gaining by 1.82 per cent, etc.

Sensex losers included Hero MotoCorp declining by 3.92 per cent, Bajaj Auto which fell by 2.58 per cent, Tata Steel dipping by 2.44 per cent, ONGC declining by 2 per cent, Titan Company decreasing by 1.90 per cent, etc.

At a broad level, small-cap and mid-cap indices gained by 0.92 per cent and 0.81 per cent respectively. BSE Bankex was the top sectoral gainer, up by 1.79 per cent whereas BSE Auto was the top sectoral loser, down by 1 per cent.