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Mumbai: Negative news on Kotak Mahindra Bank from the Reserve Bank of India, ban on issuing new credit cards and taking online customers with immediate effect and in the corporate results season, FMCG giant Hindustan Unilever yesterday reported encouraging results against banking giant Axis Bank. There were weak results. Today, after witnessing uncertain movement in two index-based openers – banking, FMCG stocks as well as metal-mining, auto stocks gained momentum and Sensex came back towards 74000 level and Nifty crossed this level. Of 22500. Buying in domestic IT stocks and selective buying in pharma stocks led the index-based market amid weakness in global IT-technology stocks, as funds cut valuations on Reliance Industries. In the end, Sensex closed 486.50 points higher at 74339.44 and Nifty spot closed 167.95 points higher at 22570.35.
Capital Goods Index up 545 points: Bharat Forge, Carborundum, ABB, BHEL rally
The BSE Capital Goods Index closed 544.83 points higher at 63249.94 today on sustained buying by funds in capital goods stocks. Bharat Forge rose by Rs 90.05 to Rs 1312.25, Carborundum Universal rose by Rs 66.55 to Rs 1411.05, GMR Infra rose by Rs 2.72 to Rs 85.11, BHEL rose by Rs 7.65 to Rs 625.45, Hindustan Aeronautics rose by Rs 49.05. Tax Rs 4000.15, ABB India 68 Rs increased by Rs 6410.95, Siemens increased by Rs 60 to Rs 5730.40, TeamCan increased by Rs 21.20 to Rs 3189.85.
Auto index rises 452 points: Balakrishnan Industries, Apollo Tyres, TVS Motors rise
Due to falling crude oil prices, immediate rise in petrol and diesel prices was not expected, and automobile stocks remained attractive. BSE Auto Index closed 451.92 points higher at 50255.50. The price of Balkrishna Industries increased by Rs 55.70 to Rs 2390.05, the price of Apollo Tire increased by Rs 11.55 to Rs 498.25, the price of Hero MotoCorp increased by Rs 103.65 to Rs 4500, the price of TVS Motor increased by Rs 42.10 to Rs 2006.45. Mahindra price increased by Rs 36.30 to Rs 2095.55, Sudaram Fasteners price increased by Rs 9.90 to Rs 1059.90, Tata Motors price increased by Rs 9.20 to Rs 1000.80, MRF price increased by Rs 1183.90 to Rs 1,29,700.
Kotak Bank fell by Rs 200 to Rs 1643 due to RBI action: Axis Bank rises due to good results
Among banking stocks, Kotak Mahindra Bank fell Rs 200.05 to Rs 1643 after Reserve Bank of India banned issuing new credit cards and taking online customers with immediate effect due to glitch in its IT systems. While Axis Bank posted quarterly net profit of Rs 7130 crore, the share price rose by Rs 63.65 to Rs 1127.35. State Bank of India price increased by Rs 39.40 to Rs 812.60, Bank of Baroda price increased by Rs 9.50 to Rs 268.70, ICICI Bank price increased by Rs 16.20 to Rs 1113.05, IndusInd Bank price increased by Rs 21.50. Rs 1496.15
Metal stocks rise: JSW up by Rs 22 at Rs 905: Coal India, NMDC gain
Metal-mining stocks remain the preferred choice of funds for funds today due to expectations of increased profitability for companies as global demand for the metal continues to rise with the recent rally in copper prices. JSW Steel rose by Rs 22.50 to Rs 905.50, Coal India rose by Rs 9.30 to Rs 452.75, NMDC rose by Rs 4.30 to Rs 252.30, Hindalco rose by Rs 10.20 to Rs 646.50, Tata Steel rose by Rs 2.10 to Rs 167.60.
Funds rise in pharma stocks: Vimata Labs, Alkem rise
Funds, majors today made extensive purchases in shares of healthcare-pharmaceuticals companies. Vimata Labs rose by Rs 49.25 to Rs 558.70, APL Ltd rose by Rs 44.20 to Rs 995.05, Dr. Reddy's Laboratories rose by Rs 265.95 to Rs 6217.15, Jagsanpal Pharma rose by Rs 35.70 to Rs 335.35, NGL Fine Chem rose by Rs 90.85 to Rs 2711. Rs.85, Alkem 146 It increased by Rs 4857.90, Panacea Biotech increased by Rs 4.05 to Rs 146.05, Sun Pharma Industries increased by Rs 34.20 to Rs 1520.55, Piramal Pharma increased by Rs 3.10 to Rs 141.90, Aarti Pharma increased by Rs 10.20 to Rs 530, Natco Pharma increased by Rs 22.60 to Rs 1022.
IT stocks rise again: Sasken, Ratgen, HCL, Tata Elxsi attract
There was buying in many shares due to the rise in IT-software services and technology shares again today. Nugen rose by Rs 53.10 to Rs 804.65, Sascan rose by Rs 71.85 to Rs 1619, Ratgan rose by Rs 25.70 to Rs 731, Intellect Design rose by Rs 17.50 to Rs 1048.10, HCL Technology rose by Rs. .24 rose by Rs 1503.65, Cient rose by Rs 23.95 to Rs 1916, Tata Elxsi rose by Rs 58.65 to Rs 7093.75, TCS rose by Rs 20.60 to Rs 3851.85.
Valuation reduced in Reliance: Rs 18 to Rs 2918: Linde India, BPCL attractive
Oil-gas stocks remained the favorite buy of funds today. After two days of profit booking after quarterly results, Reliance Industries shares fell by Rs 17.80 to close at Rs 2,918.40 today. While Linde India rose by Rs 151.15 to Rs 8380.05, BPCL rose by Rs 10.55 to Rs 603.70, Petronet LNG rose by Rs 3.50 to Rs 302.65.
Hindustan Lever falls on weak results: ITC, Vadilal Industries, Godfrey Phillip, Uttam Sugar rise
There was a selloff in FMCG stocks yesterday due to weak performance of Hindustan Unilever. The share fell by Rs 28.15 to Rs 2231. While ITC increased by Rs 8.65 to Rs 437.50, Vadilal Industries increased by Rs 250.80 to Rs 4530, Godfrey Philip increased by Rs 334.70 to Rs 3461.75, KSCL increased by Rs 46.80 to Rs 835, Nestle India increased by Rs 59.80 to Rs 2620. , dalmia Sugar rose by Rs 9.10 to Rs 395.45.
Profit booking spurred by surge in small, midcap stocks: 2043 shares closed positive
A phase of profit booking was witnessed in many small and midcap stocks today. Market sentiment remained positive, although selling in several stocks showed caution. Of the total 3934 stocks traded on BSE, the number of gainers decreased from 2228 to 2043 and the number of decliners increased from 1594 to 1769.