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Mumbai: Index-based gains in stocks were capped by volatility ahead of the Union Budget presentation on July 23, with good progress of monsoon and corporate results gearing up for the end-June 2024 season. Foreign portfolio investors (FPI) buying eased again today after heavy buying last week, while buying by local funds, institutional investors picked up. Sensex, Nifty based stocks today witnessed a two-way sell-off in FMCG stocks, auto stocks and IT stocks including Tata Motors as well as consumer durables stocks including Hindustan Unilever, ITC, Titan, Wipro and metal stocks including Tata Steel, JSW Steel and UltraTech Cement. Sensex fell between 80067.46 and 79731.83 to close 36.22 points down at 79960.38. While the Nifty 50 spot bounced between 24344.60 to 24240.55 and finally closed down 3.30 points at 24320.55. There was profit booking in small and midcap stocks as well.
Consumer index drops 858 points: Titan drops Rs 116 to Rs 3154 after quarterly performance
Consumer durables companies witnessed profit booking today after Titan Company reported performance below expectations in the June-ended quarter, pressure on margins in the jewellery business and a 9 per cent growth in revenue. Titan Company fell by Rs 115.60 to Rs 3153.70, Blue Star fell by Rs 58.75 to Rs 1651.85, Aditya Birla Fashion fell by Rs 5.50 to Rs 322.30, Whirlpool of India fell by Rs 23 to Rs 50.1998.05, Dixon Technology fell by Rs 28.45 to Rs 12,477.30. BSE Consumer Durables index closed 857.91 points down at 57842.35.
FMCG stocks gain: ITC, Hindustan Unilever, DCM Shriram, Godrej Agro gain
Funds made selective valuations in FMCG frontline stocks today on the back of good progress of monsoon. ITC rose Rs 9.85 to Rs 443.50, DCM Shriram rose Rs 13.70 to Rs 225.65, Godrej Agrovet rose Rs 35.80 to Rs 825, Marico rose Rs 23.70 to Rs 639, Godrej Consumer rose Rs 51.60 to Rs 1425.80, Agro Tech Foods rose Rs 29 to Rs 835, Hindustan Unilever rose Rs 39.60 to Rs 2586.80, Everready rose Rs 44.40 to Rs 404, GMR Overseas rose Rs 55 to Rs 4486.80, Dabur India rose Rs 13.25 to Rs 208, Dabur India rose Rs 16.90 to Rs 623.30. The BSE FMCG index rose 305.92 points to close at 21232.70.
Rail Vikas jumped Rs 74 to Rs 566: BHEL rose Rs 12 to Rs 328: Kalpataru, Bharat Electronics rose
BSE Capital Goods index closed 488.68 points higher at 75620.11 amid heavy buying by select funds in capital goods stocks. Rail Vikas rose Rs 74.35 to Rs 565.80, BHEL rose Rs 12.05 to Rs 328.40, Kalpataru Power rose Rs 46.35 to Rs 1273.95, Bharat Electronics rose Rs 10.15 to Rs 334.15, Sona BLW rose Rs 18.70 to Rs 675.45, Thermax rose Rs 49.20 to Rs 5668.45, Hindustan Aeronautics rose Rs 79.75 to Rs 5630.20.
Tube up by Rs 172 to Rs 4401: Tata Motors, Eicher up: Cummins up by Rs 125, Bosch down by Rs 626
Automobile stocks were mixed today. Cummins India fell Rs 125 to Rs 4007.45 on profit booking, Bosch fell Rs 626.50 to Rs 34507.85, Bajaj Auto fell Rs 108.35 to Rs 9527.90, Mahindra & Mahindra fell Rs 2851.40, Maruti Suzuki fell Rs 55.50 to Rs 12,051, MRF fell Rs 124.75 to Rs 1,28,810.25. While Tube Investments rose Rs 171.75 to Rs 4,401, Tata Motors Investments rose Rs 8.65 to Rs 1,002.35 due to a two percent increase in June quarter sales and the company's large-scale investment plans in the EV sector. Tata Motors rose Rs 4774.45.
ONGC continues to be heavily bought by funds, up Rs 11 to Rs 299: Reliance hits new record high of Rs 3217
Select funds continued to make heavy buys in oil-gas stocks today. Funds continued their aggressive buying in ONGC, the stock rose by Rs 11.05 to Rs 299.25, GAIL India rose by Rs 7.55 to Rs 230.50, Oil India rose by Rs 10.45 to Rs 500, Reliance Industries rose by Rs 22.05 to Rs 3202.10. The BSE Oil-Gas index closed 300.20 points higher at 30,452.49.
Jindal Stainless drops Rs 26 to Rs 1,025: Vedanta, Tata Steel, JSW, APL Apollo fall
Metal-mining stocks also witnessed profit-booking today and the BSE Metal index closed 268.24 points lower at 33,471.12. Jindal Steel fell Rs 25.75 to Rs 1024.90, Vedanta fell Rs 7.80 to Rs 465.60, Tata Steel fell Rs 2.45 to Rs 172.30, JSW Steel fell Rs 11.55 to Rs 942.60, Hindalco closed at Rs 942.60 or Rs 2.15 lower at Rs 696.25.
Selective rally in IT stocks: Black Box, Proteus, Ramco, Wipro, HCL attract attention
Funds preferred buying in IT-software services, technology stocks today as the corporate results season began. Black Box rose Rs 17.10 to Rs 409.70, Protigan rose Rs 61.40 to Rs 1474.05, Ramco Systems rose Rs 13.45 to Rs 362.95, Wipro rose Rs 6.25 to Rs 541.25, Emudhra rose Rs 6.25 to Rs 541.25, BSE rose Rs 10.05 to Rs 895, HCL Technology rose Rs 13.95 to Rs 1533.20, Infosys rose Rs 12.25 to Rs 1659.45. While TCS declined by Rs 36.50 to Rs 3975.95, Persistent declined by Rs 191.05 to Rs 4582.90, Sasken declined by Rs 65.90 to Rs 1766.90.
Market breadth negative as small, mid cap, cash stocks surge due to profit booking: 2261 stocks closed negative
Today, in small, mid-cap stocks, funds, high net worth investors jumped in many stocks and the market breadth turned negative due to profit booking. Out of total 4169 stocks traded on BSE, the number of gainers decreased from 2162 to 1798 and the number of losers increased from 1772 to 2261.
FPIs/FIIs made net purchases of Rs. 61 crore in shares: DIIs made net purchases of Rs. 2867 crore
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 60.98 crore in cash today on Monday. Total purchases worth Rs 13,503.43 crore were made against purchases worth Rs 13,564.41 crore. While DIIs-Domestic Institutional Investors made net purchases worth Rs 2866.79 crore in cash today. Total sales worth Rs 11,488.30 crore were made against purchases worth Rs 14,355.09 crore.