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MUMBAI: Oversold positions in stocks and funds today in the wake of BJP's hat-trick win in Haryana assembly elections, Maharathi made a comeback with heavy short covering. On the other hand, reports of the need for more stimulus to boost economic growth in China put the brakes on other Asian markets, following the week's bullish opening in China. In contrast, Hong Kong's Hang Seng was down 2173 points and Japan's Nikkei fell 395 points. Local funds were undervalued in automobile, banking, capital goods, oil-gas stocks due to positive factors of election results in Indian markets and short covering in oversold market. Buying by local funds countered the ongoing selling of shares by foreign funds. Sensex closed 584.81 points up at 81634.81 and Nifty 50 spot closed 217.40 points up at 25013.15. Small, midcap stocks again gained momentum. Along with this, there was softness in the markets of European countries also today.
Capital goods index jumps 1,939 points: Rail development, Siemens, ABB India rise
Capital goods stocks witnessed aggressive gains today with short covering. Rail Vikas Nigam increased by Rs 36.70 to Rs 487, Siemens increased by Rs 383.65 to Rs 7380.25, ABB India increased by Rs 393.95 to Rs 8152, Bharat Electronics increased by Rs 206 to Rs 4371.70, Suzlon NG increased by Rs 2.69 to Rs 73.67. Rs, Finolex Cables Rs 48.45 up to Rs 1344, Bharat Forge up Rs 50.40 to Rs 1484.85, BHEL up Rs 8.90 to Rs 265.50, Thermax up Rs 114.70 to Rs 5200, GMR Airports up Rs 50.40 to Rs 1484. Rs.85, Adani NG Rs.74.55 It increased by Rs 1007.45, JSW NG increased by Rs 53.15 to Rs 725.90, Tata Power increased by Rs 15.35 to Rs 456.40. BSE Capital Goods Index closed at 70731.14, up 1938.90 points.
Auto index jumps 978 points: Balakrishnan Industries, TVS Motor, Mahindra, Cummins rise
Today, BSE Auto Index closed at 59296.22, up 977.80 points due to aggressive buying by funds in shares of automobile companies. The price of Balkrishna Industries increased by Rs 182.05 to Rs 2997.85, the price of TVS Motor increased by Rs 115.75 to Rs 2747.95, the price of Mahindra & Mahindra increased by Rs 104.75 to Rs 3165.90, the price of Cummins India increased by Rs 116 to Rs 3706.20. Bosch rose by Rs 1045.10 to Rs 37,858.05, Bajaj Auto rose by Rs 296.20 to Rs 11,910.80, Sundaram rose by Rs 27.40 to Rs 1444.65, MRF rose by Rs 1050.10 to Rs 1,32,338.50.
The highlight of healthcare stocks: Morpen Labs. NGL Fine, Krishna Diagnostic, Glenmark, Bliss rise
Funds were also buying stocks of healthcare-pharmaceutical companies today. Morpen Labs rose by Rs 5.50 to Rs 83.89, NGL Fine Chemical rose by Rs 117.90 to Rs 2020, Krishna Diagnostic rose by Rs 45.15 to Rs 826.50, Glenmark Life rose by Rs 64.45 to Rs 1195.35. Bliss GVS rose by Rs 6.80 to Rs 127.50, Orchid Pharma rose by Rs 69.15 to Rs 1325.90, Suven Life rose by Rs 7.30 to Rs 141.50, Jubilant Pharma rose by Rs 58.35 to Rs 1139.90. Advance Enzymes rose by Rs 24.75 to Rs 492.40, Dishman Carbogen rose by Rs 8.45 to Rs 172.60. BSE Healthcare index closed 830.01 points higher at 43,953.52.
Short covering in banking stocks: Attraction in Bank of Baroda, Federal Bank, HDFC Bank, State Bank, Yash Bank
Short covering was seen in banking-finance stocks ahead of the Reserve Bank of India's credit policy review decision to be announced today-Wednesday. Bank of Baroda rose by Rs 5.30 to Rs 247.60, Federal Bank rose by Rs 4 to Rs 188, HDFC Bank rose by Rs 31.65 to Rs 1651.30, State Bank of India rose by Rs 12.25 to Rs 1651.30. 782.05, Yash Bank rose by Rs 21.55, Canara Bank rose by Rs 1.40 to reach Rs 104.90. BSE Bankex index closed 637.32 points higher at 57805.41.
NMDC, Tata Steel, JSW Steel, Hindalco, Jindal Stainless, Vedanta declined.
Reports of more stimulus needed in China had a negative impact on metal-mining stocks, leading to profit-booking. NMDC rose by Rs 9.70 to Rs 219.10, Tata Steel fell by Rs 4.75 to Rs 159.55, JSW Steel fell by Rs 20.20 to Rs 998.70, Jindal Stainless fell by Rs 7.40 to Rs 751.50, Vedanta fell by Rs 2.85. Rs 497.30 But it was.
Reliance October 14 results: Shares rise by Rs 55 to Rs 2796: Oil India, Petronet rise
Reliance Industries will announce its results for the quarter ending September 2024 on Monday, October 14, 2024. Oversold positions in the company's shares were covered and the stock rose by Rs 55.10 to reach Rs 2796.05 today. With this, the price of Oil India increased by Rs 17.50 to Rs 564.55, the price of Petronet LNG increased by Rs 7.65 to Rs 354.25, the price of ONGC increased by Rs 4.15 to Rs 293.60.
Paytm rises Rs 102 to Rs 754: PG Electro, Wonderla, Voltamp, SEPC, JP Power rise
Paytm's Jio Fi. Despite the talk of acquisition, the share rose by Rs 102 to Rs 753.60. PG Electroplast increased by Rs 73.30 to Rs 612.20, Dhani Services increased by Rs 5.56 to Rs 910, Voltamp Transformer increased by Rs 1192.75 to Rs 12,794.15, HEG increased by Rs 225.50 to Rs 2451.75, SEPC increased by Rs 2.26. Rupee increased by Rs 28.12, JP Power increased by Rs 1.56 It became Rs 20.03.
Small, midcap stocks surge again on buying by funds, players: 3024 shares closed positive
After yesterday's widespread losses in many small, mid-cap, cash stocks the market conditions turned positive again today with a spring-like bounce across the board. Of the total 4046 shares traded on BSE, the number of gainers was 3024 and the number of decliners was 923.
Net purchase of shares by DII was Rs. 7000 crore: Rs. 7000 crore by FPI/FII. Sale of shares worth Rs 5730 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 5729.60 crore in cash today on Tuesday. There were sales of Rs 20,503.79 crore against total purchases of Rs 14,774.19 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 7000.68 crore in cash today. There were sales of Rs 12,494.03 crore against total purchases of Rs 19,494.71 crore.
Investors' wealth in stock-market cap. Rs 7.51 lakh crore increased to Rs 459.50 lakh crore
With the rise in many shares of Sensex, Nifty, Small, Midcap and A Group today, the wealth of investors i.e. the total market capitalization of companies listed in BSE also increased by Rs 7.51 lakh crore. Rs 459.50 lakh crore in one day.