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Mumbai: Indian stock markets opened with big losses today on the back of IT stocks as global markets fell following losses in tech stocks in Dow Jones and Nasdaq yesterday amid reports of slowdown in US job growth. After an initial decline, funds sold off heavily in IT, banking stocks, Sensex, Nifty and finally after short covering, the market digested the big losses. IT stocks including State Bank, Axis Bank, ICICI Bank, Bajaj Finance, Mahindra & Mahindra, Infosys, TCS, Reliance, Hindustan Unilever, Asian Paints, Reliance, Hindustan Unilever, Asian Paints, etc were sold off after an initial decline of 721.75 points. Due to heavy short covering, Sun Pharma, UltraTech Cement, Bajaj Finserv etc closed 202.80 points lower at 82352.64 after hitting a low of 81,833.69 points. The Nifty 50 spot index also fell 196.05 points to open at 25083.80 and closed 81.15 points lower at 25198.70.
Funds ease the trade as banking stocks rally: Federal Bank, State Bank, Axis Bank, BOB fall
Banking-finance stocks were broadly soft today as funds capped bullish trades. Federal Bank fell Rs 6.75 to Rs 187.85, Bank of Baroda fell Rs 7.25 to Rs 243.45, Canara Bank fell Rs 2.75 to Rs 108.60, Axis Bank fell Rs 14.30 to Rs 1177.50, State Bank of India fell Rs 8.25 to Rs 816.50, ICICI Bank fell Rs 12.05 to Rs 1235.75. Along with this, GIC RE fell Rs 23.25 to Rs 398, RBL Bank fell Rs 9.10 to Rs 216.90, VLS Finance fell Rs 15.50 to Rs 390, HUDCO fell Rs 6.95 to Rs 266. .55, Karnataka Bank fell by Rs 5.25 to Rs 220.55.
IT stocks fall behind Nasdaq: Wipro drops Rs 17 to Rs 519: Black Box, Netweb, Oracle fall
In the US stock markets, after a big gap down in Nasdaq yesterday, a big sell-off was seen in IT stocks today. Wipro fell Rs 17 to Rs 519.15, Black Box fell Rs 14.70 to Rs 531.10, Netweb fell Rs 68.70 to Rs 2681.45, Axiscades fell Rs 14.55 to Rs 572.15, Oracle Finserv fell Rs 229.30 to Rs 11,213.25, Tata Elxsi fell Rs 121.85 to Rs 7748.85, Mphasis fell Rs 37.50 to Rs 3089.85, Coforge fell Rs 76.60 to Rs 6330.95, Mastek fell Rs 34.45 to Rs 34.45. .2871, Infosys fell Rs 18.15 to Rs 1922.05, TCS fell Rs 30.90 to Rs 4481.30. BSE IT index closed 396.17 points down at 43116.09.
Healthcare stocks rise: Piramal Pharma rises Rs 20 to Rs 213: Morepen, Supriya Life, Marksons rise
Healthcare-Pharmaceuticals stocks witnessed broad-based gains today. Funds were attracted to pharma stocks on reports of rising demand for medicines along with the threat of the pandemic subsiding due to the monsoon. Piramal Pharma rose Rs 20 to Rs 212.95, Morpen Lab rose Rs 8.44 to Rs 90.64, Supriya Life rose Rs 48.65 to Rs 587.70, Marksons Pharma rose Rs 18.60 to Rs 261.30, Pharma rose Rs 48.80 to Rs 813.30, Bliss GVS rose Rs 6.05 to Rs 127.85, Biocon rose Rs 17.75 to Rs 379.30, FDC rose Rs 26 to Rs 571.70, Indoco Remedies rose Rs 16.80 to Rs 376.65, Alembic Pharma rose Rs 46.25 to Rs 1113. The BSE Healthcare index rose 405.49 points to close at 43441.09.
Profit booking in auto stocks: Mahindra & Mahindra, Exide, Bajaj Auto, Tata Motors, Maruti declined
Funds also booked marginal profits in automobile stocks today. Exide fell Rs 5.15 to Rs 483.60, Mahindra & Mahindra fell Rs 27.90 to Rs 2756.55, Bajaj Auto fell Rs 55.60 to Rs 10,988, Tata Motors fell Rs 3.55 to Rs 1082, Maruti Suzuki fell Rs 3.55 to Rs 1082, Bajaj Auto fell Rs 30.25 to Rs 12,377.35, Eicher Motors fell Rs 11.70 to Rs 4855.95. BSE Auto index fell 214.87 points to close at 58637.13.
Coal India falls by Rs 14 to Rs 505: NMDC, NALCO, Hindalco, SAIL, Vedanta, Tata Steel fall
Funds also booked profits in metal-mining stocks. Coal India fell Rs 14.35 to Rs 505, NALCO fell Rs 4 to Rs 174.60, NMDC fell Rs 3.75 to Rs 211.30, Hindalco fell Rs 10.95 to Rs 667.95, SAIL fell Rs 1.70 to Rs 130.10, Vedanta fell Rs 4.60 to Rs 459.85.
Profit booking in power-capital goods stocks: Tata Power drops Rs 13 to Rs 420: BHEL, ABB, Larsen fall
Funds were also selling profit in power-capital goods stocks today. Tata Power fell Rs 13.15 to Rs 420.65, BHEL fell Rs 7.55 to Rs 278.75, ABB India fell Rs 112.75 to Rs 7656.25, Adani Power fell Rs 7.85 to Rs 650.70, RVNL fell Rs 7.70 to Rs 592.60, Titagraha fell Rs 18.60 to Rs 1431.90, NBCC fell Rs 1.85 to Rs 184.80, Larsen & Toubro fell Rs 31.80 to Rs 3658.
Market breadth marginally negative on profit-booking in small, mid-cap stocks: 2019 stocks closed negative
Today the market sentiment was marginally negative due to profit booking in small, mid cap, cash stocks. Out of the total 4047 stocks traded on BSE, the number of gainers was 1932 and the number of losers was 2019.
Net purchase of shares by FPIs/FIIs Rs.975 crore: Net purchase by DIIs Rs.97 crore
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 975.46 crore in cash today. Selling of Rs 15,609.67 crore was done against total purchases of Rs 16,585.13 crore. While DIIs-Domestic Institutional Investors made net purchases of Rs 97.35 crore in cash today. Selling of Rs 13,486.57 crore was done against total purchases of Rs 13,583.92 crore.
Nikki lost 1639 points, Dax lost 161 points
In the global markets, after the Dow Jones fell by 626 points and Nasdaq by 577 points yesterday, Japan's Nikkei 225 index fell by 1639 points in the Asia-Pacific markets and there was a big decline in the European markets. In the evening, the London Stock Exchange's Futsie fell by 42 points, the German index fell by 161 points and France's CEC 40 index fell by 77 points.