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Markets at a Glance:
Benchmark indices Nifty and Sensex closed almost flat today with positive bias. Nifty able to inch forward by just 3.5 points and closed at 11934.5, while Sensex too managed to gain 31.7 points and closed at 40625.5.
Talking about sectors, Nifty IT was the clear winner in today’s session. Nifty metal grew marginally, while all other sectors ended in red.
Top Gainers/Losers:
IT majors Infosys and HCL along with Kotak Bank, Reliance and Ultra Tech Cement made the most gains in today’s market. On the other hand, CIPLA, TITAN, Adani Ports, Divi’s Labs and ICICI Bank took the most beatings today.
DII/FII Data for today’s market
DIIs stick to their strategy of sell-off and divested Rs.1674.46 crore, while FII showed their confidence in Indian markets by investing Rs.832.14 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 13-Oct-20 | 3,029.17 | 4,703.63 | -1,674.46 |
| FII/FPI | 13-Oct-20 | 5,797.32 | 4,965.18 | 832.14 |
Wipro profit fell by 3.4% in Q2 on YoY basis, approves Rs.9500 crore buyback plan:
Software service firm, Wipro reported 3.4% fall in its consolidated net profit for quarter ended on September. It posted Rs.2466 crore profit for Q2 against Rs.2533 crore profit posted in same period last year. On QoQ basis, it reported a jump of 3.17% in net profit. Company’s revenue stood at Rs.15114.5 crore vs its last quarter revenue of Rs.15125.6 crore.
Shareholders also approved proposal to buyback 23.75 crore shares at Rs.400 per share, where aggregate amount shouldn’t exceed Rs.9500 crore. Shares of Wipro closed 0.6% lower at Rs.375.2 on NSE.
RBI reassigned portfolios of its Deputy Governors:
Newly appointed RBI deputy governor M Rajeshwar Rao will now look after Department of Regulation, communication, enforcement, inspection, legal, and risk monitoring. He was earlier looking after Monetary Policy department, which is now assigned to deputy Guv M D Patra.
Deputy Governor MK Jain will look after the central security cell, corporate strategy and budget department, consumer education and protection department, department of supervision, and human resource management department
Deputy Governor BP Kanungo will oversee coordination, currency management, external investments and operations.
Sovereign Gold Bonds (SGB) now open for subscription:
Seventh tranche of SGB 2020-21 series are now opened for subscription from Oct 12 to Oct 16 with per gram gold price of Rs.5051. SGBs have lock-in of 8 years, after which you get back the market price of gold present at that time. They also offer an annual interest of 2.5%, which is paid twice a year.
For investors applying online, RBI which is the issuer of SGB, will give Rs.50 as discount per gram, thus making effective price of per gram gold at Rs.5001.