- by Soumili Roy
- 19th Sep 2020
FTSE rejig, border tension pervades volatility; Sensex, Nifty conclude in the red.
On Friday, 18 September 2020, Indian market benchmarks the Sensex and the Nifty shut in the red on September 18 in the midst of blended worldwide cues and absence of new homegrown triggers.
A FTSE rejig of the record combined with India-China strains prompted a quite unpredictable exchanging meeting. In the wake of trading in the green for the vast majority of the day, value benchmarks surrendered to a new spell of selling in the most recent hour, shutting with a negative bias.
Sector-wise performance
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If you talk about sector-wise performance, the top sectors which benefited in today’s market stand to be Chemicals, Diversified, ETF, Healthcare while in sectors like Utilities, telecom, real estate, and power stocks profit-taking was seen.
Among the sectors, pharma captured everyone's attention. The BSE healthcare index shut 3.50 percent higher followed by the telecom index that climbed 2.69 percent and the realty index logged an addition of 1.96 percent.
Dr. Reddy’s Laboratories, Cipla and Adani Ports were among the top Nifty gainers.
HDFC Bank, Shree Cements and Bajaj Finserv were among the top Nifty losers.
Stocks of the day
If talking about the stock sector-wise, on the inverse side of the story, BSE finance and Bankex plunged 1.16 percent and 1.13 percent, respectively.
A volume spike of more than 300 percent was seen in Escorts, Cipla, Glenmark Pharma and Divi's Labs.
Stocks like Dr. Reddy's Labs, Cipla and Lupin showed Long buildup.
The stocks like Petronet, IDFC First Bank and Bandhan Bank showed a short buildup.
More than 164 stocks on the BSE including HCL Technologies, Advanced Enzyme Technologies, Apollo Hospitals, Biocon, Cadila, Divi's Labs, Dr. Reddy's Labs, Escorts and Wipro hit a fresh 52-week high.
Commodity market
Gold costs rose by Rs 109 to Rs 51,620 for each 10 gram in the Mumbai market on positive worldwide cues and shortcoming in the dollar, however the additions were topped by a more grounded rupee. The valuable metal was trading a thin trading range as brokers and speculators are anticipating new triggers post the US Federal Reserve meet.
The yellow metal has picked up Rs 179, or 0.35 percent, this week.
Silver prices climbed to Rs 68,450 per kg on September 18 as the participants were seen to increase their long positions. The significant metal settled with a loss of 1.4 percent on the COMEX on September 17.
Crude oil futures however softened to Rs 3,019 per barrel on September 18 as participants increased their short positions. Costs acquired a gain as Organisation of Petroleum Exporting Countries (OPEC) threatened to snake down on member states that failed to comply with an output cut.
