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Heavy selling was witnessed in financial sector giants HDFC Bank and ICICI Bank and blue chip stocks Reliance and Bharti Airtel today as players adopted a cautious stance ahead of the decision on interest rates in the US Federal Reserve meeting. After this, Sensex fell by 1,064 points and Nifty closed below 24,350. Today’s fall, seen for the second consecutive session of the week, was so widespread that all 30 Sensex stocks fell by 0.04 per cent to 2.83 per cent, while among the 14 sector indices on Nifty, the non-media index fell by 0.09 per cent. percent to 1.82 percent. Out of 50 Nifty stocks, 48 stocks fell by 0.09 per cent to 5.27 per cent. FIIs made heavy selling in the Indian stock market today and their net selling figure stood at Rs. 6,409 crores.
After initially opening 237 points lower, Sensex made an intra-day high of 81,613 and low of 80,612. Thus, at the end of the total fluctuation of 1,001 points, Sensex fell by 1,064 points or 1.30 percent, breaking the level of 81,00 and closed at 80,684 points. The bearish phase that started in Sensex from the beginning of the session continued till the end of the session. On the other hand, Nifty also opened 84 points lower initially and made an intra-day high of 24,624 and low of 24,303. Thus, after a total fluctuation of 321 points, Nifty finally closed at 24,336 with a fall of 332 points or 1.35 percent. A recession was also seen in midcap and smallcap stocks today, but the impact of the recession was less as compared to largecaps. The BSE mid-cap index today closed 310 points or 0.65 per cent lower at 47,815, while the small-cap index fell 298 points or 0.52 per cent at 56,928. However, the rally in SME IPO stocks continued today with the BSE SME IPO index hitting a new intraday high of 1,16,720 and ending the day at 1,16,141 points, up 953 points or 0.83 per cent.
Of the total 4,107 shares traded on BSE today, 1,521 shares rose, 2,502 shares rose and 84 shares closed flat. Today not a single stock hit upper circuit or lower circuit. BSE’s m cap today is Rs. 455.13 crore i.e. 5.36 trillion dollars was recorded, which is yesterday’s Rs. Rs 460.06 lakh crore. There is a shortage of Rs 4.93 lakh crore. All 30 Sensex stocks closed with losses today, while only two out of 50 Nifty stocks closed with gains. Cipla closed 0.14 percent higher and ITC 0.13 percent higher. Among Nifty stocks, Shriram Finance fell 5.27 per cent, Grasim 3.21 per cent and Hero MotorCorp 3.01 per cent. The volatility index rose 3.31 percent to 14.49 today. Thus, the volatility index has increased by 10 percent in two days. Among the 14 sector indices of Nifty, all indices except media were down. A gain of 0.2 percent was recorded in Nifty Media.
Main reasons for Tuesday’s recession
Rise ahead of US Federal Reserve meeting
It is a matter of concern that the rupee has reached a low of 84.92.
Lack of fresh buying by FIIs
Heavy selling in blue chip shares
Bank of Japan may increase interest rates on 19th
Reliance Industries is expected to get negative returns for the first time in 10 years.
The shares of Reliance Industries have been declining for some time. Although the government canceled the windfall tax, the stock has not seen any momentum and the bonus issue has also failed to revive the stock. The earning of the company’s shares in the month of July was Rs 1.5 crore. The stock is currently down 21 per cent from its record high of Rs 1,608, resulting in the company’s M cap falling to Rs. A deficit of Rs 4 lakh crore has been recorded. If the situation continues like this, then for the first time in 10 years, Reliance will register negative returns in a calendar year.
FII’s Rs. Net sales of Rs 6,409 crore.
Today in the Indian stock market, FIIs sold Rs 6,409 crore, while DIIs sold Rs 6,409 crore. Rs 2,706 crore net was taken. With this, the figure of net borrowing taken by FIIs so far in December has come down to Rs. 5,019 crore, while the net borrowing figure by DIIA increased to Rs. 7,144 crores.