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Mumbai: Funds pushed Sensex, Nifty-based stocks to record highs today on expectations of good progress of monsoon and Union Budget to be presented on July 23 with provisions to boost economic growth. Buying continued in IT stocks this morning after encouraging results of IT giant TCS last week, funds rallied in auto, power-capital goods stocks including NTPC, Mahindra & Mahindra, Tata Motors, Maruti and later gained in select banking-finance stocks. Infrastructure sector including State Bank of India and UltraTech Cement closed at new highs on expectations of gains. Sensex closed 145.52 points higher at 80664.86 and Nifty 50 spot closed 84.55 points higher at 24586.70.
State Bank up Rs 22 to Rs 882: IFCI, Canara Bank, Geojit up: Bankex up Rs 275
The fund selection was a big buy today led by State Bank. Canara Bank rose by Rs 4.55 to Rs 117.25, Bank of Baroda rose by Rs 7.85 to Rs 258.60, Yes Bank rose by Rs 26.38, State Bank of India rose by Rs 21.95 to Rs 881.60, IndusInd Bank rose by Rs 21.95 to Rs 881.60, Kotak Mahindra Bank rose by Rs 9.65 to Rs 1444.60, Kotak Mahindra Bank rose by Rs 10.90 to Rs 1844.15. Along with this, Geojit Financial rose by Rs 16.25 to Rs 121.70, IFCI rose by Rs 6.02 to Rs 75.64, IDBI rose by Rs 5.60 to Rs 91.54, J&K Bank rose by Rs 10 to Rs 113.50, Prudent Advisors rose by Rs 101.80 to Rs 2088, Crisil rose by Rs 190.20 to Rs 4501.20, ICRA rose by Rs 241.15 to Rs 6022. The BSE Bankex index rose by 275.59 points to close at 60416.03.
IT stocks continue to attract attention: Nucleus, Rsystems, Subex, Black Box, Zensar rally
After the frontline stocks remained attractive, a sharp sell-off started in IT-Software Services, Technology stocks. Of course, the secondline continued to buy favorite stocks. The exchange rose Rs 8.40 to Rs 139.15, Subex rose Rs 1.79 to Rs 32.49, Nucleus Software rose Rs 77.50 to Rs 1500, LatentView rose Rs 26.15 to Rs 05, Blackbox rose Rs 11.90 to Rs 405.80, Ramco Systems rose Rs 8.45 to Rs 362.55, Oracle Finserv rose Rs 360.50 to Rs 10,925.55, Mphasis rose Rs 35 to Rs 2736.80.
Reports of tyre price hikes including MRF attract attention: Apollo Tyres, Bajaj Auto, Mahindra hike
Auto, tyre stocks were up today on expectations of increased vehicle purchases due to good progress of monsoon across the country and reports of price hikes by tyre companies including MRF. Apollo Tyres rose Rs 20.80 to Rs 539.75, Bajaj Auto rose Rs 246.95 to Rs 9675.50, MRF rose Rs 1605.55 to Rs 1,31,284.20, Mahindra & Mahindra rose Rs 26 to Rs 2730.15, Balkrishna Industries rose Rs 32.80 to Rs 3154.65, Tata Motors rose Rs 7.90 to Rs 1024.50, Hero Motocorp rose Rs 43.05 to Rs 5589.45, Maruti Suzuki rose Rs 85.05 to Rs 12,642.45.
Revival in power stocks: NHPC, NTPC, Tata Power, ABB attract
Extensive buying was again witnessed in power stocks today. NHPC rose by Rs 2.80 to Rs 115.80, NTPC rose by Rs 8.40 to Rs 385.65, Tata Power rose by Rs 5.15 to Rs 439.20, JSW NG rose by Rs 6.95 to Rs 720.20, ABB India rose by Rs 6.95 to Rs 720.20, ABB India rose by Rs 41.90 to Rs 8249.35, Siemens rose by Rs 22.05 to Rs 7631.45.
FPIs/FIIs net buy Rs 2,685 crore in cash: DIIs net sell Rs 331 crore
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 2684.78 crore in cash today. Selling of Rs 12,172.29 crore was done against total purchases of Rs 14,857.07 crore. While DIIs-Domestic Institutional Investors made net sales of Rs 331 crore in cash today. Selling of Rs 15,364.05 crore was done against total purchases of Rs 15,033.05 crore.
Investors' asset-market capitalisation rose by Rs 2.68 lakh crore to a new high of Rs 455.06 lakh crore.
Investors' wealth i.e. total market capitalisation of BSE-listed companies rose by Rs 2.68 lakh crore in a single day to a new record high of Rs 455.06 lakh crore as Sensex, Nifty benchmark stocks continued to hit record highs today.