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Sensex gains 534 pts to end at 59,299; Nifty jumps 159 pts to 17,691
BSE Sensex
Key equity indices ended with strong gains on Monday, October 4, 2021. The S&P BSE Sensex advanced 533.74 points or 0.91 per cent to 59,299.32. The...
Key equity indices ended with strong gains on Monday, October 4, 2021. The S&P BSE Sensex advanced 533.74 points or 0.91 per cent to 59,299.32. The Nifty 50 index added 159.20 points or 0.91 per cent to 17,691.25. The Nifty Bank index rose 353.75 points or 0.95 per cent to end at 37,579.65.
The broader markets too ended the day in the positive territory with the S&P BSE rising 1.51 per cent and Nifty 50 adding 1.71 per cent.
Buyers outpaced sellers. On the BSE, 2332 shares rose and 1016 shares fell. On the Nifty 50 index at the NSE, 36 shares advanced and 14 shares declined. The top five gainers on Nifty were Divi's Laboratories (up 7.84 per cent), Hindalco (up 4.60 per cent), NTPC (up 4 per cent), Bajaj Finserv (up 3.36 per cent) and Tata Motors (up 2.61 per cent). The top five losers on were Cipla (down 2.97 per cent), Grasim (down 2.28 per cent), UPL (down 1.40 per cent), IOC (down 0.98 per cent) and Eicher Motors (down 0.77 per cent).
COVID-19 update
Total COVID-19 confirmed cases worldwide were at 233,713,190 with 4,782,640 deaths. India reported 264,458 active cases of COVID-19 infection and 448,997 deaths, data showed.
Economy
Coal Ministry has set up a committee to review benchmarking timelines in project execution. The committee aims to suggest a robust and efficient set of timelines for the clearances before issuing tender.
It will be chaired by the Joint Secretary and Financial Advisor comprising of representatives from NTPC, IOCL, Power Grid Corporation of India and Director, Eastern Coalfields as member secretary for review and benchmarking the timelines in project execution.
Mohammed El-Erian has some advice for Federal Reserve Chairman Jerome Powell about tapering: Get going. The bond-market influencer has for months urged the Fed to reduce its asset purchases before inflation runs rampant and batters' financial markets. A week ago, Mr Powell said the US central bank could begin scaling back in November and complete the process by mid-2022. "When it comes to an orderly taper, the window is closing," El-Erian, a chief economic adviser and president of Queens' College, Cambridge, said on Friday. He pointed to the U.S. housing market to make his case for speeding things up.
