Stocks Markets closed in Green today; Nifty reclaims 11,000-mark, Sensex rises 835 points

The domestic stock markets snapped the six-day losing run on Friday, September 25, 2020 and ended in green with more than 2 per cent gains. The October series also started on a strong note.

The Sensex ended 835.06 points, or 2.28 per cent, higher to 37,388.66 while the Nifty 50 ended 244.70 points, or 2.26 per cent, higher to 11,050.25. The Nifty Bank gained 525.50 points, or 2.57 per cent, and closed at 20,982.35. Broader markets settled in-line with the benchmarks, up 2 per cent.

Buyers outpaced sellers. On the BSE, 1978 shares rose and 670 shares fell. Only three stocks ended in red in Nifty 50 index and they were SBI LIFE (down 1.11 per cent), BPCL (down 0.86 per cent) and UPL (down 0.58 per cent). The major gainers on the index are Bajaj Finserv (up 6.60 per cent), HCL Technologies (up 5.30 per cent), Cipla (up 5.12 per cent), Bharti Airtel (up 4.94 per cent) and Larsen & Turbo (up 4.44 per cent).

The level of volatility declined as trading of October series contracts began. India Volatility Index (VIX) was down 11.68 per cent to 20.76.

UK Finance Minister Rishi Sunak on Thursday announced a new emergency package of measures to contain unemployment, replacing the country's furlough scheme which is due to expire next month.

Jobless claims in the US rose 4,000 to 870,000 (from 866,000 last week), the Labour Department said Thursday, reflecting that slightly more Americans applied for state unemployment benefits in the week ended September 19, 2020 than in the prior week. Sales in the US of new single-family homes in August exceeded an annual rate of 1 million for the first time since 2006. The new home sales occurred at a seasonally adjusted, annual rate of 1.011 million (vs. 0.965 million in July and up 43% YoY).

As per reports, US lawmakers that include Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi are looking to iron out differences on a fresh round of stimulus to boost the economy. The Democrats could announce a $2.4 trillion stimulus package as early as next week. Total Covid-19 confirmed cases worldwide were at 3,22,34,685 with 9,83,042 deaths.