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Updated on: Monday, October 04, 2021, 02:46 PM IST

Sensex surges over 550 points, Nifty above 17,600 in afternoon trade; NTPC, Divis Labs top gainers

Divi's Labs shares have surged nearly 10 per cent to hit an intraday high of Rs 5,313.80. NTPC shares touched a 52-week high of Rs 145.75, rising 4 percent on news reports of it listing 3 IPOs.r/Representational image | ANI Photo

Divi's Labs shares have surged nearly 10 per cent to hit an intraday high of Rs 5,313.80. NTPC shares touched a 52-week high of Rs 145.75, rising 4 percent on news reports of it listing 3 IPOs.r/Representational image | ANI Photo

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The benchmark indices were buoyant up at 2 PM. Sensex is up 560.40 points or 0.95 percent at 59,325.98. Meanwhile, the Nifty jumped 163 points or 0.93 percent at 17,695.15.

Divi's Labs shares have surged nearly 10 per cent to hit an intraday high of Rs 5,313.80. NTPC shares touched a 52-week high of Rs 145.75, rising 4 percent on news reports of it listing 3 IPOs.

The benchmark indices opened higher on Monday morning (October 4) amid mixed global cues.

At 09:16 AM, the Sensex was up 294.90 points or 0.50 percent at 59,060.48, and the Nifty was up 83.80 points or 0.48 percent at 17,615.80. About 1,516 shares have advanced, 339 shares declined, and 133 shares are unchanged.

After surging to 59,156.62 in the opening session, the 30-share Sensex was trading 340.95 points or 0.58 per cent higher at 59,106.53. Similarly, the Nifty rose 98.40 points or 0.56 per cent to 17,630.45.

Titan, Nestle, Hindustan Unilever, Larsen and Toubro, and Maruti were among early losers while NTPC, Bajaj Finserv, HDFC< Mahindra and Mahindra, Bajaj Finance and Sun Pharma were among early gainers at the opening bell.

Bharti Airtel was the top gainer in the Sensex pack, rising around 2 per cent, followed by Dr Reddy’s, SBI, Bajaj Finserv, Sun Pharma and HDFC.

On the other hand, Tata Steel, Nestle India, HUL, Titan and PowerGrid were among the gainers.

In the previous session, the 30-share index ended 360.78 points or 0.61 per cent lower at 58,765.58, and Nifty declined 86.10 points or 0.49 per cent to 17,532.05.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 131.39 crore on Friday, as per exchange data.

Asian stocks decline in early trade

Shares in Asia-Pacific were mixed in Monday morning trade after Merck announced its new COVID oral antiviral treatment that cuts the risk of hospitalization or death.

In Japan, the Nikkei 225 shed 0.57 percent while the Topix index dipped 0.24 percent. Australian stocks jumped, with the S&P/ASX 200 up 1.14 percent.

Markets in China are closed for most of this week for holidays and are set to reopen on Friday. South Korean markets are also closed on Monday for a holiday.

Gold up

Gold was up on Monday morning in Asia, hitting a near two-week peak as the dollar weakened and offset bets that the US Federal Reserve could begin asset tapering soon.

Gold futures edged up 0.15 percent to $1,761 by 10:21 PM ET (2:21 AM GMT) after hitting $1,765.54, its highest level since September 23.

The dollar, which normally moves inversely to gold, inched down to its lowest level since September 29.

FPI net buyers for second month in row

Foreign portfolio investors (FPIs) were net buyers for the second month in a row in the Indian market with an investment of Rs 26,517 crore in September. As per depositories' data, FPIs pumped in Rs 13,154 crore into equities and Rs 13,363 crore in the debt segment during September 1-30.

The total net investment stood at Rs 26,517 crore. This comes after an investment of Rs 16,459 crore by FPIs in August.

LIC IPO by November

The country's largest insurer LIC is likely to file draft papers with Sebi by November for the largest IPO in country's history, a finance ministry official has said. "We target to bring the IPO within this fiscal and we have set stricttimelines. The DRHP would be filed by November," the official said.

DoT amends licence norms

The DoT has amended licence norms to rationalise the interest rate for delayed payment of licence fee, a move that is expected to ease financial burden on the telecom sector and promote ease of doing business.

The department will now charge 2 percent interest above the one-year marginal cost of lending rate (MCLR) of State Bank of India for delay in payment of licence fees or any other statutory dues and the interest will be compounded annually.

Sebi extends relaxations

Markets regulator Sebi on Friday extended relaxations for companies with regard to compliance with procedural norms on rights issues opening till March 31, 2022. As per Issue of Capital and Disclosure Requirements norms, an application for a rights issue shall be made only through the ASBA facility.

This relaxation has now been further extended and shall be applicable for rights issues opening up to March 31, 2022, Sebi said in a circular.

Trade deficit

India's merchandise trade deficit in September was $22.94 billion, preliminary data released by the government showed on Friday.

India's merchandise exports rose $33.44 billion for the month from $27.56 billion in the same period last year, while imports rose $56.38 billion in September from $30.52 billion last year.

Forex declines

The country’s foreign exchange reserves declined by $997 million to reach $638.646 billion in the week ended September 24, RBI data showed on Friday. The forex kitty had surged by $8.895 billion to a lifetime high of $642.453 billion in the week ended September 3, 2021.

During the reporting week ended September 24, 2021, the dip in reserves was on account of a fall in the foreign currency assets (FCAs), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).

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Published on: Monday, October 04, 2021, 02:46 PM IST
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