look news india
Mumbai: With the Lok Sabha elections now in their final phase, Indian stock markets have hit a new record high on hopes of a strong stable government at the Centre. Funds registered big intra-day gains on index-based indices ahead of the June 4 election results, with corporate results encouraging strong optimism of a stable government. After the intra-day Sensex rose 599.29 points to hit a new record high of 76009.68 today, led by aggressive buying in IT-software services, banking, steel-metal stocks as well as stocks led by Reliance, Wipro, Sun Pharma, ITC, Maruti, rose in the last hour. Capital goods majors NTPC, Mahindra & Mahindra fell 619.18 points due to huge profit booking and finally closed 19.89 points lower at 75390.50. While intra-day Nifty spot rose 153.70 points to close at 23110.80, down 178.35 points from the peak and 24.65 points from the previous close, at 22932.45.
Bankex up 353 points: AU Bank, IndusInd, IDFC Bank, Axis, HDFC gain
The BSE Bankex index closed 352.67 points higher at 56271.27 due to heavy buying in banking stocks by funds today. AU Small Finance Bank rose Rs 16 to Rs 636.30, IndusInd Bank rose Rs 23.80 to Rs 1465.60, IDFC First Bank rose Rs 1.01 to Rs 78.72, Axis Bank rose Rs 11.75 to Rs 1186, HDFC Bank rose Rs 11.30 to Rs 1527.95, State Bank of India rose Rs 5.50 to Rs 834.10, Kotak Mahindra Bank rose Rs 7 to Rs 1710.
IT stocks in focus: TCS surges; Sonata, Persistent, Cyient, Coforge gain
IT – Software Services, Technology stocks witnessed broad buying today. TCS, however, retreated from its highest level of Rs 3907 and finally fell by Rs 4.20 to Rs 3846.55. Cyient rose Rs 56.25 to Rs 1807.75, Coforge rose Rs 158.20 to Rs 5263, Nelco rose Rs 22.45 to Rs 761.45, RateGain rose Rs 15.35 to Rs 732.85, LTI Mindtree rose Rs 10.50.70 to Rs 4891.95, Oracle Finserv rose Rs 59.15 to Rs 7603.70. While Nucleus Software fell by Rs 116.15 to Rs 1252.45, Genesis fell by Rs 27.70 to Rs 506, 63 Moons Technology fell by Rs 19.90 to Rs 378.20, Wipro fell by Rs 10.95 to Rs 452.55.
Market sentiment worsens as selling in small cap, cash stocks increases: 2323 stocks closed negative
Intra-day the Sensex crossed 76,000 and Nifty 23,000 and made a new record, but the market breadth remained weak as players, funds, investors piled up small cap stocks and booked profits. Of course, mid-cap stocks were seen to be increasingly attractive for select funds. Out of the total 4105 stocks traded on the BSE, the number of losers was 2323 and the number of gainers was 1650.
Crude oil prices rise: HPCL up Rs 15 to Rs 557: Reliance down Rs 27 to Rs 2932
Oil and gas stocks traded mixed today. Stocks fell by Rs 27.35 to Rs 2932.45 amid reports of Reliance Jio's entry into the 5G sector in South Africa. While ONGC fell by Rs 5.60 to Rs 277.60, Linde India fell by Rs 342.95 to Rs 8763.40. Despite overall strong international crude oil prices, among oil marketing stocks, HPCL rose by Rs 14.50 to Rs 557.55, BPCL rose by Rs 21.5 to Rs 656.15.
Sharp sell-off in metal stocks: NMDC, APL fall Apollo: Jindal Stainless rises
Funds were bullish on metal-mining stocks today. NMDC fell Rs 5.05 to Rs 262.70, APL Apollo fell Rs 30.35 to Rs 1663.50, SAIL fell Rs 2.90 to Rs 166.55, Jindal Steel fell Rs 10.10 to Rs 1058.55. While Jindal Stainless rose Rs 16.55 to Rs 720.85, Hindalco rose Rs 6.40 to Rs 679.50.
FPIs/FIIs net sold shares worth Rs. 541 crore: DIIs net bought shares worth Rs. 923 crore
Foreign Portfolio Investors – FPIs, FIIs net sold shares worth Rs 541.22 crore in cash today on Monday. Total sales of Rs 14,554.60 crore were made against purchases of Rs 14,013.38 crore. While DIIs-Domestic Institutional Investors net bought shares worth Rs 922.60 crore in cash today. Total sales of Rs 11,979.97 crore were made against purchases of Rs 12,902.57 crore.
