Key domestic indices ended with stellar gains; Sensex up by 277 points & Nifty 50 settles at 11,503

Continuing its uptrend for a third consecutive session, benchmark domestic stocks on Monday, October 5, 2020, gained around 0.75 per cent amid positive global cues.

The Sensex at Bombay Stock Exchange (BSE) climbed 276.65 points, or 0.71 per cent, to close at 38,973.70. The Nifty 50 at National Stock Exchange also surged 86.40 points, or 0.76 per cent, to settle at 11,503.35.

Overall, Nifty has been displaying bullish momentum over the past few trading sessions, with key resistance seen around the 11,600-11,650 zone whereas immediate support is seen around 11,200-11,250 levels.

The Nifty Bank rose 124.95 points, or 0.56 per cent, to settle at 22,370.95. The broader market at BSE closed divergently. The Mid-cap fell 0.18 per cent and Small-cap appreciated 0.38 per cent.

The market breadth was positive. On the BSE, 1449 shares rose and 1227 shares fell. Similarly, on Nifty 50 block, 29 shares advanced and 20 declined while 1 remain unchanged. The major gainers on Nifty 50 were TCS (up 7.55 per cent), Wipro (up 7.01 per cent), Tata Steel (up 4.93 per cent), Sun Pharma (up 3.39 per cent), and JSW Steel (up 3.17 per cent), while the losers included Bajaj Finserv (down 2.79 per cent), Shree Cement (down 2.75 per cent), Bharti Airtel (down 1.95 per cent), Bajaj Finance (down 1.83 per cent) and GAIL (down 1.75 per cent).

India reported 9,34,427 active cases of COVID-19 infection and 1,02,685 deaths while 55,86,703 patients have been discharged. Total COVID-19 confirmed cases worldwide were at 3,39,76,447 with 10,14,266 deaths.

US President Donald Trump could be discharged from hospital later in the day. Mr Trump was admitted to the hospital for treating Coronavirus on Friday. The media reported that he has responded well and could return to the White House on Monday.

Activity in Japan's services sector contracted for the eight-straight month in September. Initial jobless claims filed through state programmes dropped to 837,000 in the week ended September 26 from a revised 873,000 in the prior week and 840,000 forecasts. The Institute of Supply Management's manufacturing index slipped to 54.6 in September from a 21-month high of 56 in the prior month and 56.5 forecasts. The House reportedly passed a $2.2 trillion Democratic Coronavirus stimulus plan on Thursday night even as Democrats and the Trump administration struggled to strike a relief deal.

Global cues were positive as Dow Futures, Nasdaq Futures and FTSE were up by 0.53 per cent, 0.96 per cent and 0.62 per cent respectively."