look news india
Mumbai: Global investors are worried about the performance of Artificial Intelligence-AI companies and with the performance of IT companies declining, now Nestle SA and Gucci owner Kering SA weakened in global markets, followed by a surprise cut in Indian interest rates by the US and China. Index-based weakness continued in stock markets globally. However, Sensex, Nifty eventually digested the initial big losses with heavy buying in Tata Motors against a bigger-than-expected sell-off in banking-finance heavyweight Axis Bank. Initially Sensex fell 671.05 points to hit a low of 79477.83 and shares of Tata Motors, Larsen & Toubro, Sun Pharma, Kotak Mahindra Bank, Wipro closed down 109.08 points to 80039.80. While the Nifty 50 spot initially dropped 202.70 points to 24210.80, after digesting the huge drop, it finally closed 7.40 points lower at 24406.10.
Axis Bank drops Rs 64 to Rs 1175 post results; Kotak Bank, HDFC, Prudent Advisor gain
In banking-finance stocks today, the stock fell Rs 64.40 to Rs 1,175.35 after Axis Bank's results were 4 per cent lower than expectations. ICICI Bank fell Rs 24.65 to Rs 1198, Bank of Baroda fell Rs 3.75 to Rs 245.40, IndusInd Bank fell Rs 16.90 to Rs 1380.25, while Kotak Mahindra Bank rose Rs 29.20 to Rs 1775.30, Federal Bank rose Rs 3.15 to Rs 204.60, HDFC Bank rose Rs 11.60 to Rs 1616.30. Prudent Advisor rose by Rs 124.35 to Rs 2265, Caffeine Tech rose by Rs 31.30 to Rs 769.30, IDBI Bank rose by Rs 3.93 to Rs 101.47, SBI Life Insurance rose by Rs 61.10 to Rs 1695.20.
Tata Motors price hiked by Rs 63 to Rs 1091 after Nomura upgrade: Bosch price hiked by Rs 702, Cummins by Rs 65
Funding in automobile company stocks has become aggressive again. Global broking giant Nomura upgraded the rating for Tata Motors from Neutral to Buy, raised the stock price target from Rs 1,141 to Rs 1,294, Tube Investments rose Rs 80.90 to Rs 4034, Cummins India rose Rs 65.05 to Rs 1,294. 3607.95, Sundaram rose Rs 6.05 to Rs 1410, MRF rose Rs 433.65 to Rs 1,37,572.25, Mahindra & Mahindra rose Rs 5.45 to Rs 2811.25, Bajaj Auto rose Rs 12.95 to Rs 1,37,572.25. BSE Auto index closed 705.18 points higher at 57876.61.
ONGC surges 5% to new high of Rs 336: HPCL up Rs 21, Indian Oil up Rs 8
The BSE oil-gas index closed 905.73 points higher at 31,786.61 following massive buying by funds in oil-gas stocks today. Funds bought the stock heavily, rallying Rs 16.25 or five per cent to Rs 335 after ONGC announced commencement of oil production from Block KD-DWN 98/2 Cluster-2 asset and start of production from the first coal bed. Methane block in Bokaro-Jharkhand closed at a new high of .75. HPCL rose Rs 20.60 to Rs 374.40, Indian Oil Corp rose Rs 8.10 to Rs 176.85, Oil India rose Rs 23.50 to Rs 566.45, Petronet LNG rose Rs 13.80 to Rs 365.25, BPCL rose Rs .11 to Rs 326. While Reliance Industries fell by Rs 8.05 to Rs 2982.60.
Hester Bio rose Rs 373 to Rs 3093: Sigachi, Jagsonpal Pharma, Syngene, Fortis Health gained.
Funds also bought stocks of healthcare-pharmaceuticals companies aggressively. Hester Bio rose Rs 373.55 to Rs 3092.80, Sigachi Industries rose Rs 5.99 to Rs 65.94, Jagsonpal Pharma rose Rs 28 to Rs 383, Indraprastha Medi rose Rs 17.90 to Rs 269.75, Syngene International rose Rs 38 to Rs 784.90, Suven Life rose Rs 6.70 to Rs 141.20, Fortis Health rose Rs 23.65 to Rs 505.45, Suven Pharma rose Rs 42.20 to Rs 922.30, Rainbow Child rose Rs 48.25 to Rs 1152.60. Sun Pharma Industries rose Rs 45.45 to Rs 1665.20.
CG Power up by Rs 32 at Rs 728: Larsen up by Rs 104 at Rs 3623: Sona, ABB India up
Today the BSE Capital Goods index closed 746.19 points higher at 72305.61 due to heavy selective buying by funds in capital goods stocks. CG Power rose Rs 31.70 to Rs 728, Larsen & Toubro quarterly results, order book attraction rose Rs 103.60 to Rs 3623, Gold BLW rose Rs 10.85 to Rs 697.95, LG Equipments rose Rs 9.70 to Rs 701.50, ABB India rose Rs 104 to Rs 7630, Polycab rose Rs 86.95 to Rs 6417.05, Teamcan rose Rs 40.75 to Rs 4030.85, Siemens rose Rs 85 to Rs 64.05 to Rs 6835.35.
FPIs/FIIs net selling Rs. 2605 crores cash: DIIs net buying Rs. 2432 crores
Foreign Portfolio Investors – FPIs, FIIs net sold shares worth Rs 2605.49 crore in cash today on Thursday. Total sales of Rs 17,288.41 crore were made against purchase of Rs 14,682.92 crore. While DIIs-Domestic Institutional Investors net bought shares worth Rs 2431.69 crore in cash today. Total sales of Rs 13,328.33 crore were made against purchase of Rs 15,760.02 crore.
Gaps in global markets: Nikkei down 1285 points, DAX down 221 points in Europe, KEC down 159 points
Global markets were lagging behind America today by a wide margin. In the Asia-Pacific countries, Japan's Nikkei 225 index fell 1285.34 points to 37869.51, Hong Kong's Hang Seng fell 306.08 points to 17004.97. In the European markets, the London Stock Exchange's Futsei 100 index fell 55 points, Germany's DAX fell 221 points, and France's CAKE 40 index fell 159 points in the evening. Whereas in the American stock markets, after yesterday's fall of 504 points in the Dow Jones and 655 points in the Nasdaq, today the Dow Jones Mini is seeing a fall of 20 points and the Nasdaq futures are seeing a fall of 58 points.