look news india
Mumbai: In global markets, US markets witnessed a sharp recovery after early decline of Nasdaq and Dow Jones yesterday, along with Asian, European markets witnessed universal rally today and Indian stock markets witnessed unexpected historic rally today due to such aggressive buying by foreign portfolio investors. On the global front, global markets rallied ahead of reports of China cutting interest rates on its $5 trillion mortgages and European Central Bank (ECB) cutting interest rates by 25 basis points in the evening. In derivatives, on the day of Nifty 50 expiry, bearish players got caught in the trap and index based funds created a huge storm of one-sided rally, taking Sensex to 83000 level and Nifty to 25400 level for the first time intra-day. The market registered a sharp rally on the basis of indices, especially in Nifty 50 till expiry today, with heavy selling by bearish players in the last minute.
Aggressive storm surge
Sensex, Nifty based markets were also weak yesterday, with foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) net buyers of cash in stocks and Bajaj Housing Finance IPO in the primary market yesterday saw a record high of over 88 lakh applications with demand of Rs. 3.20 lakh crore. With investment flows continuing through SIPs in India and mutual funds and foreign funds today on the back of a rally in global markets, key stocks hit record highs and intra-day Sensex crossed the 83,000 mark for the first time hitting a new high of 83,116 and Nifty 50 index also crossed intra-day 24,400 mark to hit a new peak. In the end, Sensex jumped 1439.55 points to close at 82962.71 and Nifty jumped 470.45 points to close at a new high of 25388.90.
Auto index rose
Bulls staged an unexpected aggressive rally in automobile stocks today after the negative impact of Tata Motors' announcement of discount sale on vehicle prices yesterday. Mahindra & Mahindra rose Rs 89.15 to Rs 2742.25, Bosch rose Rs 1013.80 to Rs 34,128.95, Eicher Motors rose Rs 141.25 to Rs 4875.15, Motherson Sumi rose Rs 4 to Rs 188.70. Bajaj Auto rose Rs 301.10 to Rs 11,726.40, Hero Motocorp rose Rs 146 to Rs 5803.40, TVS Motor rose Rs 61.90 to Rs 2820.55, Maruti Suzuki rose Rs 144.35 to Rs 12,392.85. BSE Auto index rose 1132.46 points to close at 58168.80.
capital goods jump
In capital goods-power stocks too, the BSE Capital Goods index rose 1172.29 points to close at 72606.76 after an unexpected aggressive rise by funds today. ABB India rose Rs 137.50 to Rs 7705.55. Along with this, Adani Power rose Rs 24.55 to Rs 651.35, NTPC rose Rs 15.10 to Rs 404.80, JSW NG rose Rs 19.30 to Rs 760.20.
IT index rose
After the rise in the US stock market Nasdaq, there was a rise in IT-software services and technology shares today. Tech Mahindra's price rose by Rs. 39.15 to Rs. 1641.80, Infosys' price rose by Rs. 39.55 to Rs. 1950.35, Oracle Finserv's price rose by Rs. 217.30 to Rs. 11,590, Mastek's price rose by Rs. 59.70 to Rs. 2720.80, Rs. 46.35 to Rs. 2125, HCL Technology's price rose by Rs. 27.10 to Rs. 1805.55.
Consumer durables stocks rose
Funds were also buying shares of consumer durables companies aggressively today. Voltas rose by Rs 28.70 to Rs 1855.70, Titan Company rose by Rs 52.15 to Rs 3763.40, Dixon Technology rose by Rs 171.10 to Rs 12,864.05. BSE Consumer Durables closed at 66083.55, up 1002.92 points.
Small, mid caps rise
Small, mid-cap stocks again witnessed a bullish trend today as the market breadth turned positive, however mavericks, high net worth investors, funds continued to book profits in many stocks on the rise and continued to lighten investment portfolios. Out of total 4069 stocks traded on BSE, the number of gainers increased from 1603 to 2337 and the number of losers increased from 2368 to 1609.
DII sales Rs 1,801 crore
FIIs made massive net purchases of shares worth Rs 7695 crore in cash today on Thursday. While DIIs-domestic institutional investors made net sales of Rs 1800.54 crore in cash today.
investors money
Today, with strong gains in many Sensex, Nifty based A group, Small, Mid cap stocks, the total market capitalization of companies listed on BSE also increased by Rs 6.60 lakh crore. It was lakh crore in a day.