look news india
Mumbai: Ahead of the Lok Sabha elections, funds, operators, players performed with a bang today as they started booking huge profits in small, mid-cap stocks ending six consecutive days of index-based rally. With many small, mid-cap stocks overvalued and many funds wary of a possible big correction before the end of March, players turned down bullish trades today. Amid intense measures taken by the government to bail out China from the economic crisis on the global front, the Chinese regulatory authority today announced a ban on net selling by institutional investors 30 minutes before market opening and 30 minutes before closing. After a week of record gains in Chinese stock markets, funds turned to caution.
Sensex fell from high of 73267 to 72623: New history of Nifty 22249
Heavy profit-booking was seen in IT-software services, technology stocks and power-capital goods stocks, while selling was witnessed in auto, consumer durables, oil-gas stocks. Earlier today, Nifty hit new all-time high of 22249.40 on buying in metal-mining stocks Tata Steel, JSW Steel along with banking stocks State Bank, IndusInd Bank, ICICI Bank as well as Reliance, Sun Pharma, Tata Consumer, Mahindra. Has reached. Maruti. Which ultimately fell by 141.90 points and closed at 2055.05. While Sensex initially reached 73267.80, it fell 434.31 points and closed at 72623.09.
IT index fell by 593 points: Mphasis fell by Rs 116, Infosys fell by Rs 28, HCL fell by Rs 29.
Today, BSE IT index fell 592.82 points to close at 37990.34 due to heavy selling by funds in IT-software services, technology stocks. Datamatics fell by Rs 17.75 to Rs 595.85, Mastek fell by Rs 77.75 to Rs 2980, Cient fell by Rs 49.30 to Rs 1963.95, L&T Technology fell by Rs 131.15 to Rs 5279. Wipro fell .70. It fell by Rs 10.65 to Rs 521.15, HCL Technology fell by Rs 28.65 to Rs 1634.20, Tech Mahindra fell by Rs 22.45 to Rs 1297.25, Infosys fell by Rs 28.10 to Rs 1656.05.
Rise in oil PSU shares: BPCL falls by Rs 25, HPCL by Rs 20
Oil-gas PSU shares fell today and the momentum reversed. BPCL fell by Rs 24.50 to Rs 633.35, HPCL fell by Rs 20.30 to Rs 542.70, IOC fell by Rs 4.40 to Rs 184.50, ONGC fell by Rs 3.75 to Rs 272.90, Linde India fell by Rs 56.70 to Rs 5635. While Reliance Industries initially rose as high as Rs 2977.05 and finally fell Rs 2.55 to Rs 2938.20. The BSE Oil-Gas index fell 516.67 points to close at 28,574.65.
Profit booking in GMR Airports, BHEL, Rail Vikas, KPIL, NTPC, Larsen
Large-scale profit-booking was seen in power-capital goods stocks today. GMR Airports fell by Rs 5 to Rs 85.68, Sona BLW fell by Rs 23.60 to Rs 615.35, BHEL fell by Rs 7.25 to Rs 223.75, Rail Vikas fell by Rs 5.20 to Rs 262, KPIL fell by Rs 15.35 to Rs 909.90, CG Power fell by Rs 6 to Rs 431.30. Praj Industries fell by Rs 6.95 to Rs 504.80, Larsen & Toubro fell by Rs 35.20 to Rs 3318.20, Lakshmi Machine Works fell by Rs 35.20. It increased by Rs 131.35 to Rs 14,575.70. The BSE Capital Goods index closed at 55078.23, down 688.51 points.
Funds buy in banking stocks: State Bank up by Rs 12 at Rs 772: Tata Inv., JSW Holdings rise
Select funds were buying banking-finance stocks today. State Bank of India increased by Rs 12.35 to Rs 772.45, Bank of Baroda increased by Rs 3 to Rs 276.20, IndusInd increased by Rs 9.30 to Rs 1513.65, ICICI Bank increased by Rs 5.80 to Rs 1054.60. , Along with this, Tata Investment Corp increased by Rs 552.70 to Rs 6402.40, JSW Holdings increased by Rs 372.75 to Rs 6725, General Insurance increased by Rs 23.30 to Rs 430.90, Piramal Enterprises increased by Rs 46.10 to Rs 932.40, Tourism Finance increased by Rs 11 to Rs 231.05, One9 7 Communication increased by Rs 18.80 to Rs 395.25 Rupee, CAMS rose by Rs 107.70 to Rs 2967.85.
Overvaluation gap in small, mid-cap stocks: Market condition very bad: 2451 stocks closed negative
Overvaluation especially in small, mid cap, cash stocks in Sensex, Nifty based Kadaka today worsened the market situation as funds, operators, players witnessed massive offloading in many stocks. Out of the total 3942 stocks traded on BSE, the number of declining stocks increased from 1966 to 2451 and the number of gaining stocks decreased from 1877 to 1391.
Metal stocks shine due to recovery in China: Tata Steel, JSW Steel, SAIL up
Select funds were buying metal-mining stocks today on hopes of a recovery from the government's war-torn measures to stem the slide in China's markets. Tat Steel rose by Rs 3.65 to Rs 144.70, JSW Steel rose by Rs 18.45 to Rs 839.05, SAIL rose by Rs 2.45 to Rs 132.65, Jindal Steel rose by Rs 10.80 to Rs 770.75, Hindalco rose by Rs 3.60 to Rs 515.40.
FPIs/FIIs made net purchases of shares worth Rs 284 crore: DIIs made net sales of Rs 412 crore.
Foreign portfolio investors – FPI, FII made net purchases of Rs 284.66 crore in cash today on Wednesday. There were sales of Rs 16,796.01 crore against total purchases of Rs 17,080.67 crore. Whereas DII-domestic institutional investors saw net selling of shares worth Rs 411.57 crore today. There were sales of Rs 10,563.22 crore against total purchases of Rs 10,151.65 crore.
Investors' asset-market capitalization fell by Rs 2.63 lakh crore to Rs 388.87 lakh crore
After creating a new record in the index based Nifty, due to selling in small and medium stocks, the wealth of investors i.e. the total market capitalization of the companies listed on BSE fell by Rs 2.63 lakh crore in a single day to Rs 388.87 lakh crore. retreat.
