look news india
Mumbai: Foreign portfolio investors (FPIs) registered net selling in stocks for the second consecutive day due to the increase in capital gains tax on stocks and STT on futures and options in the Union Budget. Cap stocks again rose today as players welcomed the budget. Against a 2.5 per cent increase in long-term capital gains, the possibility of multifold returns on investments, again local funds, retail investors, high net worth investors took advantage of the long-term investment opportunity and made an aggressive jump today. On the other hand, Sensex, Nifty based stocks witnessed marginal weakness after profit booking in large cap stocks. Selling in banking, auto frontline stocks led to Sensex closing 280.16 points lower at 80148.88 and Nifty 50 closing 65.55 points lower at 24413.50. The BSE Smallcap index jumped 1008.99 points to close at 53832.46, while the Midcap index jumped 315.72 points to close at 46819.96.
Axis Bank fell Rs 23 to Rs 1240: State Bank fell Rs 12 to Rs 852: Kotak Bank, HDFC fell
In banking-finance stocks today, the BSE Bankex index closed 570 points down at 58783.97 due to profit-booking by funds. Axis Bank fell Rs 23.05 to Rs 1239.75, State Bank of India fell Rs 11.65 to Rs 852.25, Kotak Mahindra Bank fell Rs 23.25 to Rs 1746.10, IndusInd Bank fell Rs 15.25 to Rs 1397.15, HDFC Bank fell Rs 13.30 to Rs 1604.70, ICICI Bank fell Rs 5.15 to Rs 1222.65. While Bandhan Bank fell by Rs 7.35 to Rs 188.10, Poonawala Fin fell by Rs 11.10 to Rs 380.65, Bajaj Holdings fell by Rs 189.70 to Rs 9522, Bajaj Finserv fell by Rs 39.35 to Rs 1578.45.
20% upper circuit on IFCI budget provision: PTC India, IDBI in storm
The impact of various provisions announced by the Finance Minister in the Union Budget for employment in sectors including agriculture and skill development and mandates for various financial institutions of India was seen in the shares of financial institutions today. IFCI rose Rs 14 to Rs 84, PTC India Finance rose Rs 8.36 to Rs 58.52, IDBI Bank rose Rs 11.10 to Rs 97.54, Arhint Capital rose Rs 6.75 to Rs 82. ICICI Prudential rose Rs 56.30 to Rs 693.90, Monarch Networth rose Rs 47.55 to Rs 594, Prudent Advisor rose Rs 161 to Rs 2150, LIC India rose Rs 72.20 to Rs 1159. Max Financial rose Rs 57.15 to Rs 1092.95, UTI AMC rose Rs 48.05 to Rs 1017.60.
Thyrocare rises Rs 121 to Rs 771: Hester Bio, Coperon, Bliss GVS, RPG Life rise
Funds resumed aggressive buying in healthcare-pharmaceuticals stocks today. Thyrocare rose Rs 120.85 to Rs 770.95, Hester Bio rose Rs 287.55 to Rs 2730.05, Bliss GVS rose Rs 8.85 to Rs 121, RPG Life rose Rs 127.20 to Rs 2026.50, Piramal Pharma rose Rs 20.85 to Rs 10.10, Themis Medi rose Rs 13.45 to Rs 241, Neuland Lab rose Rs 381.65 to Rs 8440. BSE Healthcare index closed 358.21 points higher at 39099.66.
MMTC 20% upper circuit: Hindustan Construction, Ion Exchange, Castrol gain
Funds too are buying the group's stocks heavily today. Among the top gainers in the group today, MMTC was in the upper circuit of Rs 17.10 or 20 per cent at Rs 102.60 on the attraction of cut in import duty on gold. Ion Exchange rose Rs 66 to Rs 683.90, Castrol India rose Rs 24.05 to Rs 270.60, Hindustan Construction Company rose Rs 7.24 to Rs 54.83, Electrosteel Castings gained on infrastructure sector stimulus in the Budget. Up Rs 16.95 to Rs 211.10, APL Ltd. rose by Rs 88.70 to Rs 1174.35, Ashoka Buildcon rose by Rs 19.25 to Rs 259.85 due to big provision in the Budget for road infrastructure, Deepak Fertilizer rose by Rs 59.55 to Rs 842.50, Kirloskar Ferrous rose by Rs 52.85 to Rs 786.15.
Market sentiment positive as broad-based volatility rally in small, mid-cap stocks: 2802 stocks closed positive
Today the market sentiment was positive with widespread buying in small, mid cap, cash stocks against weakness in Sensex, Nifty based stocks. Out of total 408 stocks traded on BSE, the number of gainers was 2802 and the number of losers was 1094.
The asset-market capitalisation of investors in shares increased by Rs 3.07 lakh crore to Rs 449.47 lakh crore.
Investors' wealth, i.e., the total market capitalisation of BSE-listed companies, rose by Rs 3.07 lakh crore to Rs 449.47 lakh crore in a single day, as Sensex, Nifty-based stocks, small-cap, mid-cap and a basket of stocks declined.
FPIs/FIIs net selling Rs. 5131 crores Cash: DIIs net buying Rs. 3137 crores
Foreign Portfolio Investors – FPIs, FIIs net sold shares worth Rs 5130.90 crore in cash today on Wednesday. Total sales of Rs 21,252.87 crore were made against total purchases of Rs 16,121.97 crore. While DIIs-Domestic Institutional Investors net bought shares worth Rs 3137.30 crore in cash today. Total sales of Rs 14,650.04 crore were made against total purchases of Rs 17,787.34 crore.
