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Mumbai: The Union Budget will be presented next week on Tuesday, July 23, and there are reports of stimulus provisions in the budget and sudden disruptions as well as a possible hike in STT-Securities Transaction Tax and short-term capital gains tax for the market. Indian stock markets rose today after global markets were jolted by global technology giant Microsoft's cloud service over the impact on business including global banking, airlines. Contrary to the positive factor of good progress of monsoon and good corporate results across the country, the tendency of funds, players not to take big bullish positions ahead of the budget also affected many stocks today. There were large divergences especially in automobile, capital goods, metal-mining, pharma stocks. Panic selling was seen in many stocks today as small and midcap stocks also declined. Sensex closed 738.81 points down at 80604.65 and Nifty 50 closed 269.95 points down at 24,530.90.
Consumer stocks gap up: Amber drops Rs 302 to Rs 4123: Dixon down Rs 680, Havells down Rs 96
In consumer durables stocks too, funds, maharajas eased massive bullish momentum trading with exceptional gap today. Amber fell Rs 302.10 to Rs 4123.20, Dixon Technology fell Rs 680.05 to Rs 11,266.95, Havells India fell Rs 95.60 to Rs 1765.50, Blue Star fell Rs 61.30 to Rs 1638.90, Voltas fell Rs 33.65 to Rs 1460. BSE Consumer Durables index fell 1166.16 points to 57500.54.
Auto index drops to 1469: Cummins drops Rs 239 to Rs 3557: Apollo Tyres, MRF fall
Despite good progress of monsoon, stocks of automobile companies fell sharply today as large bullish players and local funds booked heavy profits. Cummins India fell Rs 238.75 to Rs 3557.95, Motherson fell Rs 12.40 to Rs 192.15, Apollo Tyres fell Rs 25.40 to Rs 524.45, MRF fell Rs 4572.25 to Rs 1,27,720, Mahindra & Mahindra fell Rs 35.20 to Rs 989.90, Bosch fell Rs 1023.40 to Rs 34,096.30, Bajaj Auto fell Rs 230.80 to Rs 9384.90, Mahindra & Mahindra fell Rs 69.40 to Rs 2750.55, Maruti Suzuki fell Rs 111.85 to Rs 12,539.80. The BSE Auto index fell 1469.21 points to close at 56500.33.
Turning tide: Capital goods index 1346 fell: BHEL Rs 14, Hind. Aeronautics fell Rs 214
As the tide of money continued to flow into capital goods stocks, the heavyweights themselves continued to unload the stocks after the reversal. As a result, panic selling was also seen among retail investors. BDL fell Rs 78 to Rs 1478, BHEL fell Rs 14.30 to Rs 294.25, Hindustan Aeronautics fell Rs 214.20 to Rs 4801.20, Siemens fell Rs 291.10 to Rs 6835, NBCC closed at Rs 6.85. 171.80, ABB India fell by Rs 276.65 to Rs 7619, Bharat Forge fell by Rs 42.60 to Rs 1579.20, SKF India fell by Rs 197.35 to Rs 5592.90, GMR Infra fell by Rs 4.08 to Rs 91.88, Polycab fell by Rs 185.05 to Rs 6365.20, Welcorp fell by Rs 19.55 to Rs 633.
Metal index down 1350 points: Jindal Stainless down Rs 45: NMDC, Jindal down
Metal-mining stocks also turned losers today after posting huge losses. Jindal Stainless fell Rs 44.85 to Rs 746.40, NMDC fell Rs 13.25 to Rs 228.65, Tata Steel fell Rs 8.60 to Rs 157.75, Jindal Steel fell Rs 43.35 to Rs 946.60, JSW Steel fell Rs 40.55 to Rs 889.55, Hindalco fell Rs 27 to Rs 663, Coal India fell Rs 17.20 to Rs 487.95. BSE Metal index closed 1350.62 points lower at 31517.10.
Infosys results attract Rs 34 to Rs 1793: forward, continuous, Wipro declines
After initial decline, profit booking was seen in IT-Software Services, Technology stocks. After the quarterly results yesterday, Infosys share rose by Rs 33.70 to Rs 1792.85. Datamatics rose by Rs 11.85 to Rs 650.45, Mphasis rose by Rs 44.70 to Rs 2877.60. On the other hand, Onward Technology fell by Rs 41.10 to Rs 432.95, Persistent fell by Rs 317.95 to Rs 4574.85, Mastek fell by Rs 173.80 to Rs 2632.10, Zensar Technology fell by Rs 42.85 to Rs 747.60. Quarterly profit increased by five per cent, while revenue fell by two per cent, share fell by Rs 15.95 to Rs 557.25.
The asset-market capitalisation of investors stood at Rs 7.94 lakh crore, which declined to Rs 446.38 lakh crore.
Today, funds, operators, retail investors themselves sold heavily in capital goods, metal-mining, consumer durables, healthcare, small, midcap stocks, causing prices of many stocks to fall, taking the total market capitalisation of companies listed on BSE to Rs 446.38 lakh crore today.
Net purchase of shares by FPIs/FIIs Rs 1506 crore: Net selling by DIIs Rs 462 crore
Foreign Portfolio Investors-FPIs, FIIs made net purchases of shares worth Rs 1506.12 crore in cash today on Friday. There were sales of Rs 14,386.49 crore against total purchases of Rs 15,892.61 crore. While DIIs-Domestic Institutional Investors made net sales of Rs 461.56 crore in cash today. There were sales of Rs 15,512.98 crore against total purchases of Rs 15,051.42 crore.