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Mumbai: Local funds in stocks yesterday, foreign funds in cash segment, despite the strong market strength, today funds made aggressive purchases in banking, finance stocks led by Axis Bank, ICICI Bank, HDFC Bank, Sensex crossed the 78000 level for the first time and reached a new record high. Similarly, Nifty also crossed the 23750 level. Due to the renewed confidence of foreign investors in India's economic growth and the determination of the domestic NDA government to take the country to new heights of growth, domestic retail investors, high net worth investors continued to buy stocks at the moment. Ignoring the negative factors of alleged front running in quant mutual funds and SEBI investigation into the delay in monsoon, the market again recorded record highs.
Profit booking in many stocks except banking: Sensex 78164, Nifty 23754 new record
Amid the record rally, funds booked profits in several sectoral stocks apart from banking. Sensex crossed 78000 and hit a new high of 78164.71 and finally closed at a new high of 78053.53, up 712.44 points. Similarly, Nifty 50 spot also touched the 23750 level and made a new high of 23754.15 and finally closed at a new record high of 23721.30, up 183.45 points. The bullish trade witnessed a moderation on speculations of a hike in short-term capital gains tax in the Union Budget.
Bankex index surges 1095 points: Axis Bank, HDFC Bank, ICICI gain
In banking-finance stocks today, the BSE Bankex index jumped 1095.19 points to close at 59805.21 as funds bought frontline stocks aggressively. Axis Bank rose by Rs 44.90 to Rs 1273, ICICI Bank rose by Rs 29.05 to Rs 1199.05, HDFC Bank rose by Rs 38.80 to Rs 1710.90, State Bank of India rose by Rs 9.20 to Rs 841.85, Kotak Mahindra Bank rose by Rs 11.25 to Rs 1783.65.
Funds book profits in metal-mining stocks: NMDC, Vedanta, SAIL, Jindal Steel gain
Today, the BSE Metal index closed 280.55 points lower at 33149.76 due to profit-booking in metal-mining stocks. NMDC fell by Rs 5.95 to Rs 258.05, Vedanta fell by Rs 9.20 to Rs 454.10, SAIL fell by Rs 2.85 to Rs 147, Jindal Steel fell by Rs 13.60 to Rs 1057.30, Tata Steel declined by Rs 2.20 to Rs 175.70, Coal India fell by Rs 4.60 to Rs 469.20.
Auto stocks trade easier in bullish trade: TI India, Eicher Motors, Cummins, Bajaj Auto fall
Automobile companies shares remained stable today as funds cut bullish trade. TI India fell Rs 92.85 to Rs 4193.70, Eicher Motors fell Rs 98.80 to Rs 4773.10, Cummins India fell Rs 45.70 to Rs 4000.65, Balkrishna Industries fell Rs 36 to Rs 3188.25, Bajaj Auto fell Rs 103.85 to Rs 9641.30, TVS Motor fell Rs 20.10 to Rs 2418, Maruti Suzuki fell Rs 63.10 to Rs 12,113.85.
Funds, players book profits in small, midcap stocks, market breadth negative: 2075 stocks close negative
As against the Sensex, Nifty based again continued its record rally, the market breadth turned negative as many stocks like fund, player, small, mid cap, cash witnessed a surge and profit booking today. Out of the total 4000 stocks traded on BSE, the number of losers were 2075 and the number of gainers were 1808.
Capital goods stocks Velcorp, Lakshmi Machines, Finolex, Larsen gained; Suzlon, LG declined.
While capital goods stocks continued to witness selective rally, many stocks witnessed correction in the uptrend. Velcorp rose Rs 29.40 to Rs 541.55, Lakshmi Machine Works rose Rs 891.05 to Rs 17,160.90, Finolex Cables rose Rs 39.40 to Rs 1650, Larsen & Toubro rose Rs 3587.15 to Rs 55.20, Teamcan rose Rs 55.25 to Rs 3587.15. LG Equipments fell Rs 23.50 to Rs 745.05, RVNL fell Rs 9.10 to Rs 407.40, Suzlon fell Rs 1.09 to Rs 53.62, AIA Engineering fell Rs 83.80 to Rs 4207.75, NBCC fell Rs .3 to Rs 159.95, Thermax fell Rs 73.30 to Rs 5121.15, Bharat Forge fell Rs 23 to Rs 1718.75, SKF India fell Rs 78.25 to Rs 6588.60, ABB India fell Rs 67.40 to Rs 8392. BSE Capital Goods index closed 204.86 points higher at 72694.07.
FPIs/FIIs made net purchases of Rs. 1176 crore in shares: DIIs made net sales of Rs. 149 crore
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 1175.91 crore in cash today on Tuesday. Total purchases worth Rs 17,331.84 crore were made against sales of Rs 16,155.93 crore. While DIIs-Domestic Institutional Investors made net sales of Rs 149.45 crore in cash today. Total sales worth Rs 13,668.66 crore were made against purchases worth Rs 13,519.21 crore.
