Benchmark Indices ended flat today; Sensex slips 8 points to close at 37,973 & Nifty settles at 11,222

Sensex today: Domestic share markets closed flat on Tuesday, September 29, 2020, amid negative global markets trading in a narrow range. The Sensex at Bombay Stock Exchange slipped 8.41 points, or 0.02 per cent, to close at 37,973.22. The Nifty 50 at National Stock Exchange also ended 5.15 points, or 0.05 per cent, down to settle at 11,222.40. The Nifty Bank fell 254.20 points, or 1.17 per cent, to 21,411.30.

The broader market at BSE also remained almost unchanged. The Mid-cap fell 0.16 per cent while the Small-cap ended negligibly by 0.01 per cent down.

Sellers outpaced buyers. On the BSE, 1178 shares rose and 1436 shares fell. In the case of the Nifty 50 block, 18 shares advanced and 32 declined. The major gainers on the block include Hindalco (up 5.31 per cent), UltraTech Cement (up 3.32 per cent), Hero MotoCorp (up 2.85 per cent), Titan (up 2.66 per cent) and TCS (up 2.49 per cent). The major losers included UPL (down 3.49 per cent), ONGC (down 3.48 per cent), IndusInd Bank (down 3.46 per cent), Power Grid (down 3.21 per cent) and Axis Bank (down 2.79 per cent).

After the market hours on Monday, ICRA, the rating agency, revised its forecast for contraction in GDP for FY21 to – (negative) 11 per cent from – (negative) 9.5 per cent as fresh COVID-19 infections remained elevated at the end of the second quarter. The rating agency, however, retained its earlier forecast of a 12.4 per cent contraction in GDP in the second quarter.

Media reports said that restaurants, bars and eatery outlets in Maharashtra will be allowed to re-start operations from the first week of October. Hotels, bars and restaurants have been surviving on home deliveries due to the Covid-19 lockdown. Total Covid-19 confirmed cases worldwide were at 33,353,615 with 10,01,646 deaths. India reported 9,47,576 active cases of Covid-19 infection and 96,318 deaths while 51,01,397 patients have been discharged, data showed.

US House of Representatives Speaker Nancy Pelosi reportedly said that stimulus talks with Treasury Secretary Steven Mnuchin are due to continue, suggesting possible progress to end the stalemate. US President Donald Trump and Joe Biden, the Democratic nominee, will face off in their first Presidential debate on Tuesday night. Three debates between the presidential candidates are scheduled to take place on September 29, October 15, and October 22, 2020. The US Presidential election is scheduled for Tuesday, November 3, 2020.