look news india
Mumbai: Capital markets regulator SEBI today imposed restrictions on foreign portfolio investors (FPIs) with respect to offshore derivative instruments (ODIs) and US issuances. Ahead of the Federal Reserve’s two-day meeting on interest rates tomorrow, funds, majors refrained from taking fresh bullish positions, with foreign portfolio investors buying frontline stocks TCS, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank today. Sold shares worth Rs 6,410 crore for cash. Kadako was called behind. Gap in frontline stocks along with all-round selling in several other stocks weighed on sentiment. Even before Donald Trump assumed power in the US, funds had eased sharply into overbought positions as critics started taking some negative decisions for India including on trade with indications of a tough stance on China. Along with this, Russia and Ukraine were also cautious about China’s weak economic data on the global front and Ukraine taking responsibility for the death of a Russian general in the explosion in Moscow. Sensex fell 1064.12 points to close at 80684.45 and Nifty 50 fell 332.25 points to close at 24336.
Selling funds in banking shares
Funds reduced overbought positions in banking-financial services stocks today. IndusInd Bank fell by Rs 24.55 to Rs 975.15, Canara Bank fell by Rs 2.15 to Rs 105.15, HDFC Bank fell by Rs 31.95 to Rs 1832.85, Federal Bank fell by Rs 3.05 to Rs 210.25, Axis Bank fell by Rs 3.05 to Rs 210.25. .14.60 to Rs.1135.95, State Bank of India fell by Rs.10.50 to Rs.850.20, Kotak Mahindra Bank fell by Rs.21.10 to Rs.1783.05. The BSE Bankex index fell 810.67 points to close at 60175.98.
auto stocks fall
Automobile stocks also fell heavily today due to heavy fall in funds. Cummins India fell by Rs 128.20 to Rs 3539.90, TVS Motor fell by Rs 73.35 to Rs 2453.75, Hero MotoCorp fell by Rs 128.50 to Rs 4410.75, Motherson Sumi fell by Rs 3.80 to Rs 165, Exide fell by Rs 9.30 to Rs 450.85, Bosch It fell by Rs 726.10 to Rs 35772.15, Eicher Motors fell by Rs 92.90 to Rs 4742.55, Maruti Suzuki fell by Rs 176.85 to Rs 11,090.35, MRF fell by Rs 1,570.55 to Rs 1,31,041. BSE Auto Index fell 915.32 points to close at 53036.56.
consumer index fell
Funds also weighed on the bullish trade in consumer durables stocks. Blue Star fell by Rs 89 to Rs 2069.45, Crompton fell by Rs 9.15 to Rs 397.70, Titan fell by Rs 31.80 to Rs 3405.75.
decline in metal stocks
Funds continued selling in metal-mining stocks on reports the industry’s recovery will be slow due to weak economic data from China and a lack of adequate stimulus measures. Jindal Steel fell by Rs 24.45 to Rs 951.80, JSW Steel fell by Rs 23.80 to Rs 966.55, Hindalco fell by Rs 14.65 to Rs 638.50. BSE Metal Index fell 554.95 points to close at 30883.61.
Fall in capital goods stocks
Capital goods stocks also witnessed broad decline as funds reduced overbought positions. The BSE Capital Goods Index fell 747.89 points to close at 72597.20. Finolex Cable fell by Rs 41.05 to Rs 1212.55, Schaeffler fell by Rs 110.95 to Rs 3374.45, SKF India fell by Rs 105.55 to Rs 4746.50. Among power stocks, Adani Green fell by Rs 25.25 to Rs 1142.80, BHEL fell by Rs 5.35 to Rs 242.35, Siemens fell by Rs 165.40 to Rs 7810, Power Grid Corp fell by Rs 4.80. 330.
Profit booking in many stocks
Today, along with the fall in Sensex and Nifty, the rise in small and midcap stocks also came to a halt, due to profit booking in many stocks, the market trend changed from positive to negative. Of the total 4107 shares traded on BSE, the number of gainers decreased from 2276 to 1521 and the number of decliners increased from 1869 to 2502.
DII purchases worth Rs 2706 crore
FPIs, FIIs made net sale of shares worth Rs 6409.86 crore in cash today on Tuesday. Whereas DII-Domestic Institutional Investors made net purchases of Rs 2706.48 crore in cash today.
Investors’ wealth decreased by Rs 4.83 lakh crore to Rs 455.13 lakh crore.
Sensex, Nifty rise, small and midcap stocks put brakes on rally With widespread selling in same-group stocks, the total market capitalization of BSE-listed companies fell by Rs 4.83 lakh crore to Rs 455.13 lakh. It was crore in a single day.
