MARKET UPDATE:Sensex hovered around 40,530 levels,up 100 points and Nifty reclaimed the 11,900 level
Published On: Tuesday, October 20, 2020 | By: Team KnowMyStock
The markets in India were up marginally today(20th October 2020) in a volatile session, amid weak global cues. The S&P BSE Sensex hovered around 40,530 levels, up 100 points and the Nifty50 reclaimed the 11,900 level. HCL Tech (up 2%), TCS, and Tech Mahindra (both up 1%) were the top Sensex gainers. On the other hand, Axis Bank, Kotak Mahindra Bank, State Bank of India, and ICICI Bank (all down 1%) were the top Sensex drags. Meanwhile, Britannia Industries slipped over 4 percent despite posting a healthy 23 percent increase in net profit for the September quarter at Rs 495 crore as compared to the corresponding quarter a year ago. The Nifty sectoral indices were trading mixed, with the Nifty PSU Bank index, down 1 percent. In the broader market, the S&P BSE MidCap index was flat while the SmallCap index gained 0.2 percent.
Twenty-six companies including Hindustan Unilever, Larsen & Toubro Infotech, and Bombay Dyeing are scheduled to announce their quarterly earnings. Analysts expect a strong recovery in HUL's essentials and discretionary categories. However, products focused on premium price and out-of-home consumption will continue to face growth headwinds, according to the experts.
Tags: Indian markets
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