MARKET UPDATE:Sensex fell 116 points to 40,590 levels and Nifty hovered around 11,900-mark
Published On: Thursday, October 22, 2020 | By: Team KnowMyStock
The benchmark indices in India were trading with marginal cuts today(22nd October 2020), on the back of weak global cues. Among the headline indices, the S&P BSE Sensex fell 116 points to 40,590 levels and the Nifty50 index hovered around 11,900-mark. ICICI Bank, PowerGrid, and Asian Paints (all down 1%) were the top Sensex laggards. On the other hand, Bajaj Finserv gained 2 percent after the announcement of its September quarter results. Meanwhile, Vedanta rose 5 percent after announcing that the company's board of directors will meet on October 24 to consider interim dividend. The Nifty sectoral indices were largely in the red, with the Nifty Pharma index, down 1 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.2 percent higher, each. Forty-eight companies including Asian Paints, Bajaj Auto, Bharti Infratel, and SBI Cards are set to announce their quarterly earnings today.
Analysts expect Bajaj Auto to report strong sequential recovery, albeit lower on year-on-year basis, on both the revenue and bottom-line front while margins are set to expand.
Tags: Indian equity market
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