|
|
|
Improved manufacturing data, auto sales lift Sensex over 600 points
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 01 Oct, 2020
The Indian stock market surged on Thursday with the BSE Sensex gaining
629 points on the back of improved manufacturing PMI data and automobile
sales.
A positive trend in the global markets also supported the domestic indices.
Healthy
buying was witnessed in finance and banking stocks. The S&P BSE
Banking index closed 3.73 per cent higher and the Finance index was up
3.03 per cent.
Investor sentiment was boosted after the IHS
Markit India Manufacturing Purchasing Managers' Index (PMI) report,
released on Thursday, cited a renewed expansion in export sales and
input stocks as well as an improvement in business confidence during
September.
Consequently, reading of the headline seasonally
adjusted IHS Markit India Manufacturing PMI showed a rise from 52 in
August to 56.8 in September. The latest reading was the highest in over
eight-and-a-half years.
Further, auto sales numbers for the month
of September, which came in on Thursday, also were largely higher on a
year on year, which too boosted the sentiments.
Siddhartha
Khemka, Head of Retail Research, Motilal Oswal Financial Services, said:
"The global cues were positive on the back of better-than-expected
private sector jobs data and rising hopes for additional stimulus
packages. Further positive progress towards a possible coronavirus
treatment by Regeneron Pharma and promising results from Moderna's
coronavirus vaccine trials also cheered the markets."
On the
domestic front, he noted that positive global cues, another phase of
'unlock' and a host of positive macro data lifted the sentiments and
decent auto sales numbers supported the indices.
The BSE Sensex closed at 38,697.05, higher by 629.12 points, or 1.65 per cent, from the previous close of 38,067.93.
It had opened at 38,410.20 and touched an intra-day high of 38,738.89 and a low of 38,410.20.
The
Nifty50 on the National Stock Exchange closed at 11,416.95, higher by
169.40 points, or 1.51 per cent, from its previous close.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|