Market Wrap Up - Oct 21, 2020 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Amid volatility, Sensex and Nifty closed up by 0.4% and 0.3% respectively. Market opened in green but during the day, weak global cues led to correction in the market. But finally during the last hour, there was news that the Government is working on a relief package that led to a rally in the market. On the sectoral indices front, Banking, Metal, Realty closed in green. Whereas FMCG, Auto, IT closed in red. Top gainers of the Nifty were Power Grid Corp (4.1%), Bharti Airtel (3.5%) and Tata Steel (3.0%). Top losers of the Nifty were Britannia (4.4%), TCS (2.3%) and SBI Life Insurance (1.9%). Britannia continues to be the biggest loser of the Nifty for the second consecutive day on account of weak Q2FY21 results. Dow Futures and Nasdaq Futures were flat, whereas FTSE were down by 1.1%. Next few days, market action will be dependent on the result announcement, global cues and news around the relief package planned by the Government."

Source : Equity Bulls

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