Sensex rises 390 points, Nifty at 11,515; TCS, HCL Tech, Maruti top performers

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Share Market News Live: Sensex rises 390 points, Nifty at 11,515; TCS, HCL Tech, Maruti top performers

Sensex, Nifty LIVE Updates on October 5: Market indices opened on a bullish note on Monday, amid positive global equities. SGX Nifty was rising 120 points higher, indicating positive trend in domestic grounds today. The 30-share benchmark rose 390 points higher to 39,086 and Nifty gained by 96 points to 11,515.  Yesterday, Sensex gained 629 points to 38,697 and Nifty ended 169 points higher to 11,416.

Here’s a look at the updates of the market action on BSE and NSE today

9. 20 AM: Opening session

Sensex and Nifty opened on a bullish note on Monday, amid positive global equities. SGX Nifty was rising 120 points higher, indicating positive trend in domestic grounds today. The 30-share benchmark rose 390 points higher to 39,086 and Nifty gained by 96 points to 11,515.

9. 14 AM: Rupee outlook

Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said, “We are expecting the rupee to trade with a slight appreciation bias in the near-term, given the persistent dollar inflows in the domestic market and a healthy current account surplus. The market will be watching developments around the next round of U.S. fiscal stimulus packages, without which the upbeat risk appetite may not be able to sustain for very long.”

9. 09 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 1,632.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 259.46 crore in the Indian equity market on 1 October 2020, provisional data showed.

8. 54 AM: Market outlook

Vinod Nair, Head of Research at Geojit Financial Services said,”The announcement of Unlock 5.0 guidelines gave the markets a temporary boost, and benchmark indices closed up by more than 1.5%. Positive data indicating resumption and expansion in the pace of the country’s factory output also supported the markets. Global indices were also positive on renewed hopes of a US stimulus package which can also ensure continued liquidity for emerging markets like India.”

He added, “Rising cases of infections, seemingly high valuations and geopolitical tensions are still causes for worry for the markets. Next week cues will again mainly depend on how global markets close out this week.”

8. 40 AM: Rupee closing

On the currency front, the Indian rupee strengthened by 63 paise and closed for the day at 73.13 per dollar on Thursday, as positive domestic equities and weak American currency buoyed investor sentiments. Earlier the currency index opened at 73.60 per dollar at the interbank forex market, over its previous close of 73.76 per dollar.

8. 30 AM: Closing on Friday

Market indices extended gains for the second consecutive day and closed higher amid positive global equities. Sensex gained 629 points to 38,697 and Nifty ended 169 points higher to 11,416.

Sensex ends 629 points higher, Nifty at 11,416; Bajaj Auto, IndusInd Bank top gainers