Sensex Today: Key equity indices ended with decent gains; Sensex gains 255 points & Nifty settles at 11,762

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Stock markets ended with decent gains; Sensex jumps 127 points & Nifty 50 closed above 11,900

Highlights

Sensex Today: Equity benchmarks on Friday, October 16, 2020, rebounded after a one day halt which snapped the winning rally of ten sessions in a row. The key indices added more than half a per cent amid mixed global cues and Nifty reclaimed the 11,750 level.

Sensex Today: Equity benchmarks on Friday, October 16, 2020, rebounded after a one day halt which snapped the winning rally of ten sessions in a row. The key indices added more than half a per cent amid mixed global cues and Nifty reclaimed the 11,750 level.

The S&P BSE Sensex advanced 254.57 points or 0.64 per cent at 39,982.98. The Nifty 50 index gained 82.10 points or 0.7 per cent at 11,762.45. The Nifty Bank grew 460.85 points or 2 per cent and settled at 23,533.25.

The broader market at BSE also climbed, outperforming the Sensex. The BSE Mid-Cap index surged 1.05 per cent and the BSE Small-Cap index rose 0.97 per cent.

The market breadth was positive. On the BSE, 1472 shares rose and 1163 shares fell. Similarly, on the Nifty 50 block, 39 shares advanced, while 11 shares declined. The major gainers on the Nifty 50 include JSW Steel (up 6.69 per cent), Tata Steel (up 5.38 per cent), BPCL (up 4.35 per cent), Hindalco (up 3.66 per cent) and Divis Lab (up 3.64 per cent). The major losers were UPL (down 7.73 per cent), HCL Tech (down 3.48 per cent), M&M (down 1.83 per cent), Asian Paints (down 1.27 per cent) and Reliance (1.26 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 3,89,25,204 with 10,98,378 deaths. India reported 8,04,528 active cases of COVID-19 infection and 1,12,161 deaths while 64,53,779 patients have been discharged, data showed.

Moody's Investors Service

Credit rating agency Moody's Investors Service reportedly said on Thursday that India's fiscal position "remains very weak". About the government's latest fiscal measures, it said, will have a minimal impact on the country's growth prospects and that the government's 'small scale' package is actually a credit negative as it reflects the country's 'limited budgetary firepower to support the economy'.

US related Data

The number of Americans who applied for jobless benefits in early October shot up to the highest level in seven weeks. Initial jobless claims filed through state programmes jumped by 53,000 to 898,000 in the week ended October 10, 2020, from a revised 845,000 in the prior week, the Labour Department said on Thursday.

In economic news, the pace of growth in regional manufacturing activity jumped to 32.3 in October from 15.0 in September, a report released by the Federal Reserve Bank of Philadelphia on Thursday showed. With the much bigger than expected increase, the Philly Fed Index spiked to its highest level since before the Coronavirus- lockdowns.

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