look news india
Mumbai: Fund stocks ended the week higher on expectations of growth in the agro-rural sector due to good progress of monsoon across the country and several recent budget incentives from the government. Sensex hit an all-time high while Nifty hit an all-time high. Today, after local funds, foreign portfolio investors became big buyers and high net worth investors, players made universal purchases in large cap, small cap, mid cap stocks, a new history of record gains was created in two days in major markets of Europe. In global markets, Asia lagged behind America, China's major challenges to bring the economy back on track and the decline halted the recovery after the impact of interest rate cuts. Out of a total of 4040 stocks traded on BSE, the number of gainers was 2652, the number of losers was 1286.
Sensex close to record high of 81587
Aggressive buying was witnessed in automobile, IT, telecom, metal-mining, capital goods, consumer durables, banking stocks. Nifty 50 spot jumped 455.05 points intra-day to hit a new record high of 24861.15 and finally closed at a new record high of 24834.85 after gaining 428.75 points. Sensex rose 1,387.38 points intra-day to hit a new record high of 80,427.18 and finally closed 1,292.92 points higher at 81,332.72. Sensex made an intraday all-time high of 81587.76 on July 19, 2024, while it closed at an all-time high of 81343.46 on July 18.
auto stocks surge
Automobile stocks rose today on expectations of a significant increase in vehicle purchases in the rural economy, agriculture sector along with good monsoon across the country. Ashok Leyland rose Rs 13.90 to Rs 246.35, Tata Motors rose Rs 27.35 to Rs 1118.40, Apollo Tyres rose Rs 13.25 to Rs 550.35, TVS Motor rose Rs 57.45 to Rs 2506.90, Cummins India rose Rs 82.25 to Rs 3690.20, Eicher Motors rose Rs 110.35 to Rs 5011.40, Bajaj Auto rose Rs 189.90 to Rs 9470, Maruti Suzuki rose Rs 163.85 to Rs 12,665, MRF rose Rs 845.60 to Rs 1,38,435.75. BSE Auto index closed at 59234.54, up 1357.93 points.
Strong buying in metal stocks
Funds also bought metal-mining stocks heavily today, hoping that demand for metals will also pick up lured by big provision for infrastructure, road construction in the Budget. NMDC rose Rs 8.65 to Rs 238.55, SAIL rose Rs 5.25 to Rs 147.45, Jindal Steel rose Rs 34.40 to Rs 972.25, Coal India rose Rs 17.40 to Rs 508.45, Hindalco rose Rs 21.90 to Rs 667.70, Tata Steel rose Rs 5.15 to Rs 162.60, NALCO rose Rs 5.65 to Rs 189.65, Vedanta rose Rs 12.85 to Rs 444.70, JSW Steel rose Rs 25.90 to Rs 900.30. The BSE Metal index closed 998.37 points higher at 32261.59.
Undervaluation in IT stocks
IT – Software Services, Technology stocks, trailing Nasdaq after the sell-off of the last few days, paused today and resulted in heavy valuation buying. Wipro rose Rs 18.20 to Rs 525, Mphasis rose Rs 171.25 to Rs 3015, 63 Moons Technology rose Rs 16.60 to Rs 349.30, Zensar Technology rose Rs 36.70 to Rs 808.80, Black Box rose Rs 14.95 to Rs 450.75, LTI Mindtree rose Rs 191.85 to Rs 5789.30, Infosys rose Rs 53.40 to Rs 1878.75, HCL Technology rose Rs 46 to Rs 1634.20, Emudhra rose Rs 10.15 to Rs 1878.75. rose by Rs 24.35 to Rs 909, Quick Hill rose by Rs 14.30 to Rs 604.85, TCS rose by Rs 65.05 to Rs 4387.95.
Investors' wealth increased
Today, the prices of many stocks rose due to big buying in small, mid cap stocks along with Sensex, Nifty, A group, investors' wealth i.e. the total market capitalization of companies listed on BSE reached a new level today by Rs 7.10 lakh crore. It reached a record high of Rs 456.93 lakh crore.
DII purchases worth Rs 2774 crore
Foreign Portfolio Investors – FPIs, FIIs made a net purchase of shares worth Rs 2546.38 crore in cash today on Friday. While DII-Domestic Institutional Investors made a net purchase of Rs 2774.31 crore in cash today.
