Sensex jumps 400 points led by RIL, private bank stocks; here’s what fueling the markets today

By: |
Published: February 11, 2020 10:06:26 AM

The S&P BSE Sensex, reclaiming 41,000-mark, was trading 400 points, or 0.97 per cent, higher at 41,383 points, while the broader Nifty 50 index was ruling at 12,154 points, up 122 points or 1.02 per cent.

Sensex, NiftyMarkets would continue to be volatile as it would closely watch the developments over coronavirus and its economic impact

Domestic equity markets benchmarks Sensex and Nifty were trading nearly one per cent higher on Monday ahead of Delhi Assembly Elections outcome. “Markets would continue to be volatile as it would closely watch the developments over coronavirus and its economic impact. Investors would also be cautious ahead of the macroeconomic data-points due to be released during the week including CPI/ WPI Inflation and IIP data. Further, this would also be the last week of the earnings season which would keep the markets volatile,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Private Ltd said.

Here’s what fueling the markets today-

Sensex reclaims 41,000-mark- Around 9.45 AM, the S&P BSE Sensex, reclaiming 41,000-mark, was trading 400 points, or 0.97 per cent, higher at 41,383 points, while the broader Nifty 50 index was ruling at 12,154 points, up 122 points or 1.02 per cent.

29 out of 30 stock in green- As many as 29 stocks out of 30 Sensex stocks were trading in green with Tata Steel as the top gainer, up 2.56 per cent. UltraTech Cemnt, Axis Bank, SBI, IndusInd Bank, Hero MotoCorp, ITC and ICICI Bank were among other gainers in the morning deals. On the other hand, TCS, the only loser, was down 0.39 per cent on the index.

All sectoral indices trade higher- All the Nifty sectoral indices were trading in green in today’s trade. The Nifty Bank index jumped 411 points to trade at 31,469 points driven by RBL Bank, Axis Bank, IndusInd Bank and SBI. The Nifty FInancial Services index, too, was trading higher led by gains in Indiabulls Housing Finance, Shriram Transport Finance Company, M&M Financials, and Axis Bank.

Death toll from coronavirus climbs above 1,000 in China- The death toll in China climbed above 1,000, as the World Health Organization (WHO) cautioned that the spread of cases outside of China could be “the spark that becomes a bigger fire” and said the human race must not let the epidemic get out of control, according to the Reuters news report.

Corporate earnings today- A total of 295 companies including BHEL, CRISIL, Coal India, GIC Housing Finance, Heidelberg, IDBI, Ballarpur Industries, Atlanta, Arvind Fashions, Greenply and GNFC are among the companies that will release their quarterly earnings today.

FII and DII data- Foreign institutional investors (FIIs) sold shares worth Rs 184.58 crore, while domestic institutional investors (DIIs), too, sold shares of worth Rs 735.79 crore in the Indian equity market on February 10, provisional data available on the NSE showed.

Global markets- In Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent with the Australian market rising 0.6 per cent and South Korea’s KOSPI lifting 0.7 per cent. Japan’s Nikkei was closed for a holiday. On Wall Street, the S&P 500 and the Nasdaq closed at record highs on Monday as Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was protracted by the deadly coronavirus. TheDow Jones Industrial Average rose 174.31 points to 29,276.82, the S&P 500 gained 24.39 points to 3,352.1 and the Nasdaq Composite added 107.88 points to 9,628.39, as per the Reuters news report

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Maharashtra sugar mills pay up 84.14% cane arrears to farmers in current season
2CPSE report card: Profitability up on lower wage bill, ‘other expenses’
3Hero Motocorp Rating ‘neutral’: Good show in adverse environment