Market trades bullish; Sensex tops 280 pts, Nifty over 12,800; Tata Steel, Bajaj Finserv top gainers

Banking, metals, consumer durables, capital goods, realty, power, industrials, utilities and healthcare stocks lifted the benchmarks.

Nov 20, 2020 09:11 IST India Infoline News Service

Indian market opened on a positive note on Friday, after a broad-based selloff in the previous closing. At around 09.20 am, Sensex is trading at 43,884.76 up 284.80 points 0.65% and Nifty 50 was performing at 12,839.90 higher by 68.20 points or 0.53%.

Banking, metals, consumer durables, capital goods, realty, power, industrials, utilities and healthcare stocks lifted the benchmarks.

On sectoral indices, the gainers were - BSE Bankex (+1.25%), BSE Metal (+1.40%), BSE Realty (+1.78%), BSE Consumer Durables (+1.12%), BSE Capital Goods (+1.22%), followed by BSE Healthcare, BSE Industrials, BSE Power and BSE Utilities gaining near 1% each.

Largecap stocks were among top picks. BSE SENSEX Next 50 surged by 295.87 points or 0.90% and was trading at 33,324.44.

Top gainers on Sensex are - Tata Steel (+2.5%), Bajaj Finserv (+2.4%), NTPC (+1.95%), Titan (+1.90%) and Bajaj Finance (+1.48%).

Top underperformers on Sensex were - ICICI Bank (-1.13%), followed by IndusInd Bank (-0.75%). Axis Bank, ONGC and RIL also plunged marginally.

Stocks that will remain in focus today are - RIL, Emami, Route Mobile, South Indian Bank, Wipro, Syngene International and HDFC AMC.

On the global front, Asian stock markets were performing on a mixed note as Wall Street eked out modest gains overnight as investors were of two sentiments between fear on worsening of the pandemic and optimism for a Covid-19 vaccine soon.

Japan's Nikkei was down over 160 points or 0.63%, while Australia ASX All Ordinaries and South Korea's Kospi traded in red but on the subdued level. Taiwan TSEC 50 Index was flat, followed by China's Shanghai SE Composite Index which was performing in green, however, at a slower pace.

Meanwhile, Hong Kong's Hang Seng tops 110 points or 0.44%. 

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