look news india
Attraction in metal shares at low level
Iron ore prices rose Rs 10.13 to close at Rs 227.96 on the NSE as investors were attracted by NMDC's hopes of improving its profits after 18 per cent hike in iron ore prices in two months. After poor results, JSW Steel rose by Rs 23.40 to reach Rs 967.25. Last week, the September quarter results showed a huge decline in the company's profits. Market leader Tata Steel rose by Rs 3.52 to close at Rs 149.38. Jindal Steel rose by Rs 19.95 to close at Rs 919, Hindalco rose by Rs 14.15 to close at Rs 692.90, Nelco rose by Rs 4.92 to close at Rs 223.79.
Mixed flows in auto stocks
Auto stocks were mixed ahead of October auto sales data. Shares of Mahindra & Mahindra closed at Rs 2781 with a rise of Rs 60.15. Shares of Tata Motors closed at Rs 878.45 with a rise of Rs 14.15. The company's board meeting to announce September quarter results is scheduled to be held on November 8. TVS Motor closed at Rs 2462.35 with a rise of Rs 12.55. TVS market remains attractive due to good results of September quarter.
Valuation of giant stocks is low
Vaari Energies was listed on the BSE at Rs 2,550, a 70 per cent premium against the allotment price of Rs 1,503. However, due to profit booking by investors at higher prices, it closed at Rs 2294.50, 10 percent below the listing price. After heavy losses last week, Sensex heavyweight Reliance Industries. Sun Pharma rose by Rs 6.55 to Rs 1334.30, Sun Pharma rose by Rs 42.40 to Rs 1902.65, Wipro rose by Rs 15.60 to close at Rs 558.80. Last week, ITC was upbeat after its September quarter results.
dii net level
Domestic institutional investors (DIIs) made net purchases of Rs 1400.85 crore with buying of Rs 12258.32 crore and selling of Rs 10857.47 crore. In comparison, foreign investors (FIIs) bought Rs 13393.30 crore and sold Rs 16621.38 crore, making net sales of Rs 3228.08 crore. Market cap on BSE increased by Rs 4.21 lakh crore to Rs 441.20 lakh crore.
