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Mumbai: On one hand there are reports of negative results in the Lok Sabha elections in which BJP got less seats than expected and on the other hand there has been initial panic in the global markets as funds have shown a cautiously accommodative stance and Tata Motors. Downgraded with corporate results. Of course, due to the positive impact of the statement of Home Minister and Cooperation Minister Amit Shah that the stock markets will see a rise after June 4, the market saw a rapid recovery and entered the positive zone. Thus, today a fluctuation of 1800 points was seen in Sensex and 600 points in Nifty.
Market U-turn on Amit Shah's statement: 1800 points in Sensex, 600 points in Nifty
Due to the selling of State Bank of India, IndusInd Bank and Titan Company along with Tata Motors, at one time the Sensex fell by 800.46 points to a low of 71866.01 points. At the beginning of which, Union Home and Cooperation Minister Amit Shah gave a positive statement in an interview to a channel and said that there is a buying opportunity in the current decline in the Indian stock markets and after June 4, the market has taken a sharp U-turn. Sensex digested the fall with big buying in HDFC Bank, TCS, Asian Paints along with Axis Bank, ICICI Bank, Sun Pharma etc. and touched 72863.56 and finally closed at 72776.13, up 111.66 points. Nifty 50 spot also fell 234.15 points initially and fell sharply to 21821.05, then touched 22131.65 and finally closed 48.85 points higher at 22104.05.
Tata Motors Broking House cuts Rs 87 to Rs 959: Auto index falls 760 points
Auto giant Tata Motors last week reported a strong fourth quarter as net profit tripled to Rs 17,407 crore, leading to a massive selloff in the stock as broking houses downgraded the stock on modest growth estimates for full year 2024-25. done. Motilal Oswal has reduced the target price of the stock to Rs 955 from Rs 970 after giving neutral rating to the stock from buy. The share price touched a low of Rs 948 today and finally closed at Rs 959.55, down by Rs 87.30. Among other auto shares, Tube Investments fell by Rs 179.50 to Rs 3910. While the price of Cummins India increased by Rs 97.25 to Rs 3510.25, the price of Bosch increased by Rs 502.85 to Rs 30,900, the price of MRF increased by Rs 1220.85 to Rs 1,28,740. BSE Auto Index fell 760.37 points to close at 51223.82.
ABB India rises Rs 802 to Rs 7984: Siemens up Rs 458, Polycab up Rs 272, TeamCan up Rs 104
Among capital goods stocks, BSE Capital Goods index closed 817.56 points higher at 61805.04 as funds aggressively bought multinationals today. ABB India rose by Rs 801.65 to Rs 7983.80, Siemens rose by Rs 457.75 to Rs 6627.80, Grindwell Noten rose by Rs 77.85 to Rs 2240, TeamCan rose by Rs 104.10. Rs 3506.40, carborundum increased by Rs 44.80 1512, Honeywell Automation was up by Rs 703.65 to Rs 475000.
Healthcare index up 398 points: Sun Pharma, Solara, Dr Lal Pathlab, Cipla, Lupine gain
Funds also traded aggressively in healthcare-pharmaceuticals companies today. The price of Sun Pharma Industries increased by Rs 23.75 to Rs 1530, the price of Solara Active increased by Rs 31.70 to Rs 524, the price of Dr. Lal Pathlab increased by Rs 146.15 to Rs 2495, the price of Cipla increased by Rs 75.35 to Rs 1414. 80, Metropolis increased by Rs 87.85 to Rs 1833.90, Lupine increased by Rs 77.90 to Rs 1687.75, Aurobindo Pharma increased by Rs 49.20 to Rs 1177.85, RPG Life increased by Rs 51.90 to Rs 1500.35, Divi's Lab increased by Rs 114.50. Rs 3906.45, Gland rose by Rs 51.50 to Rs 1760.15. BSE Healthcare index closed 398.73 points higher at 35094.33.
Bankex rises 354 points: Bank of Baroda, HDFC, Fed rise: Selling in state banks
There was less movement in banking-finance shares today. Of course, there was selling in State Bank of India which dropped by Rs 9.50 to Rs 808.85. Bank of Baroda rose by Rs 3.35 to Rs 259, HDFC Bank rose by Rs 18.20 to Rs 1455.80, Federal Bank rose by Rs 2 to Rs 161.85, Axis Bank rose by Rs 13.10 to Rs 1133. IDFC First Bank rose by Rs 77.33, ICICI Bank rose by Rs 10.85 to Rs 1127.55, Kotak Mahindra Bank rose by Rs 10.65 to Rs 1641.15. BSE Bankex index rose 354.15 points to 54507.50.
Despite selective buying in small, midcap stocks, short selling in many stocks: 2254 shares negative
Despite selective buying in small, mid-cap, cash stocks today, the market condition remained sour as operators, funds sold several stocks. Out of the total 4087 stocks traded on BSE, the number of declining stocks was 1707 and the number of gaining stocks was 2254.
FPI/FII net sale of shares worth Rs.4499 crore: DII net purchase of Rs.3563 crore
Foreign portfolio investors – FPI, FII witnessed huge net selling of Rs 4498.92 crore in cash shares today. There were sales of Rs 14,808.37 crore against total purchases of Rs 10,309.45 crore. While DII-Domestic Institutional Investors made net purchases of shares worth Rs 3562.75 crore in cash today. There were sales of Rs 9093 crore against total purchases of Rs 12,655.75 crore.
The asset-market capitalization of investors in shares increased by Rs 85 thousand crore to Rs 397.41 lakh crore.
Sensex, Nifty are based on rapid recovery after initial fall despite selective buying in small and mid cap stocks amid selling in many stocks. The total market capitalization of BSE listed companies i.e. investors' wealth increased by Rs 85 thousand crore in a single day to Rs 397.41 lakh crore. ,