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Markets at a Glance:
Nifty grew by 86 points and closed around 11503, while Sensex soared by 276 points and settled at 38973. Almost all sectoral indices were in green except marginal losses in Media, Auto and PSU bank indices. Nifty IT grew by 3.47% led by windfall gains in TCS and Wipro.
Top Gainers/Losers:
TCS, Wipro, Tata Steel, Sun Pharma and JSW steel were among the top gainers in today’s market session, On the other hand, Bajaj Fin Serv, Shree Cement, Bharti Airtel, Bajaj Finance and GAIL were among the top losers.
DII/FII Data:
Domestic Institutional Investors (DII) pulled away Rs.471.56 crore, while Foreign Institutional Investors (FII) poured in Rs.236.71 crore, as per the data available on NSE website.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 05-Oct-20 | 2,779.65 | 3,251.21 | -471.56 |
| FII/FPI | 05-Oct-20 | 5,685.56 | 5,448.85 | 236.71 |
Angel Broking debuts at 10% discount to its IPO price:
Shares of Angel Broking listed today at Rs.275, a 10% discount to its IPO price of Rs.306. It touched intraday high of Rs.296.7 and later closed at Rs.274.25, near to its opening price on NSE. Its IPO got subscribed by almost 4 times. High valuation and stiff competition in the broking industry were the primary reasons behind this weak entry, and even the Grey market indicated the same.
On the other hand, its peers in the IPO market performed well, with CAMS getting listed at around 14% premium to its IPO price and Chemcon getting listed at whopping 115% premium to its IPO price. You may revisit our article on these IPOs.
TCS considering buyback, share price zoom by 7.5%:
Shares of Tata Consultancy Services (TCS) soared by 7.55% and touched 52-W high when the company announced that it is considering a buyback of shares. Earlier in 2018, the company went for a 16000 crore worth share buyback. TCS had cash reserves of Rs.73993 crore as of March 2020.
With the help of today’s rally, TCS became the second domestic firm after Reliance Industries to surpass Rs.10 lakh crore market cap mark.
Country’s exports increased by 5.27%, while imports contracted by 40% for Sept:
After falling for six months, India’s exports grew by 5.27% YOY to 27.4 billion US dollars in September month. During the same time, imports plunged by 19.6% to 30.31 billion US dollars. Due to this, the trade deficit during the same month narrowed to 2.91 billion dollars as against 11.67 billion dollars in the same period of 2019.