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MUMBAI: Ahead of Christmas and US Nifty, Sensex lost key support levels today as foreign fund stocks got in an exit mood and sold off ahead of the Federal Reserve’s evening interest rate decision. Additionally, before Donald Trump came to power in the US, the threat by the US to impose stringent import duties on Indian goods against India’s import duties on American goods has also alerted funds, macros, high net worth investors. Gave up and started reducing the overbought. Post. Capital markets regulator SEBI’s decision to tighten restrictions on foreign portfolio investors (FPIs) further boosted the selling in stocks ahead of the Christmas holidays. Along with banking-finance shares… Sensex closed 502.25 points down at 80182.20 and Nifty Spot closed 137.15 points down at 24198.80.
Nifty is technically losing the level of 24300, signal to break the bullish trend: If 23950 is broken then 23450 will be visible!
Technically, Nifty has currently lost the level of 24300, the scope for upside has become limited and in case Nifty loses the level of 23950, there is a possibility of breaking till 23450. At the same time, in bad conditions, chartists have started seeing technical possibility of up to 22400 in Nifty.
We. Selling in bank stocks ahead of Fed decision: Federal, state banks fall: Bankex falls 758 points
We. Banking stocks witnessed cautious selling ahead of the Federal Reserve’s interest rate decision. Federal Bank fell by Rs 10.10 to Rs 200.15, Yash Bank fell by Rs 33 paise to Rs 20.62, ICICI Bank fell by Rs 19.50 to Rs 1313.60, State Bank of India fell by Rs 11.15 to Rs 839.05. HDFC Bank fell by Rs 21.65 to close at Rs 1811.20, Axis Bank fell by Rs 12.40. IndusInd Bank fell by Rs 9.30 to Rs 965.85 at Rs 1123.55. BSE Bankex index fell 758.35 points to close at 59417.63.
Sale in Piramal Enter, Jio Financial, UTI AMC, Paisalo, Poonawala Fin
Among financial stocks, Piramal Enterprises fell by Rs 77.20 to Rs 1147.25, Paisalo Digital fell by Rs 2.93 to Rs 54.17, Spandashpoorti fell by Rs 18.05 to Rs 346.15, UTI AMC fell by Rs 55.80 to Rs 55.80. 1310.20, Jio Financial fell by Rs 12.50 to Rs 324.55, Indostar Capital fell by Rs 11.65 to Rs 312, Nalwa Sons fell by Rs 298.65 to Rs 8261.75, Poonawala Fin fell by Rs 11.05 to Rs 329.85, Vardhman Holdings fell by Rs 163.20. Came to Rs 4805.55, HUDCO reduced it by Rs 8.25 to Rs 248.05. While Caffeine Tech rose by Rs 91.65 to Rs 1325.75, Rane Holdings rose by Rs 62.80 to Rs 1877.35, IIFL Finance rose by Rs 10.50 to Rs 426.90.
Capital goods stocks gapped up: Mazagon Dock Rs 204, Grindwell Rs 78, Hind. Aeronautics fell by Rs 138
Capital goods, power stocks also declined today as funds trimmed major gains amid reports of US companies bribing executives of Indian companies to secure orders in India and action against these companies. Mazagon Dock fell by Rs 203.60 to Rs 5103.85, Hindustan Aeronautics fell by Rs 138.55 to Rs 4483.05, Grindwell Northern fell by Rs 77.90 to Rs 2135, Bharat Forge fell by Rs 34.80 to Rs 1306.65, Rail Development fell by Rs 10.40. 457.90, Praj Industries fell by Rs 18.10 to Rs 804.20, Suzlon NG fell by Rs 1.49 to Rs 67.95. BSE Capital Goods Index fell 1135.12 points to close at 71462.08.
Karnataka’s new tax on Aryan Ore mining companies: NMDC loses Rs 14, Coal India loses Rs 7
There was a selloff in mining, metal stocks after the Karnataka government proposed new mineral tax on Aryan Ore mining companies. NMDC fell by Rs 13.85 to Rs 213.65, JSW Steel fell by Rs 19.50 to Rs 947.05, Jindal Steel fell by Rs 17.80 to Rs 934, Coal India fell by Rs 6.90 to Rs 395.90. Vedanta fell by Rs 6.45 to Rs 496.65, APL Apollo fell by Rs 14.45 to Rs 1580, Jindal Stainless fell by Rs 6.10 to Rs 736.20. BSE Metal Index fell 444.01 points to close at 30439.60.
Healthcare stocks up: Supriya Life, Concord Biotech, Blue Jet, Mankind Pharma, Glaxo up
Healthcare-pharmaceuticals stocks were underperforming funds today. Supriya Lifescience increased by Rs 43.20 to Rs 760, Concord Biotech increased by Rs 120 to Rs 2176.30, Mankind Pharma increased by Rs 142.15 to Rs 2803.35, NGL Fine increased by Rs 93 to Rs 1986.50, Glaxo Pharma increased by Rs 69.35 to Rs 2334. The price of Aurobindo Pharma increased by Rs 33.95 to Rs 1247.40, the price of Lupine increased by Rs 53.80 to Rs 2099.70, the price of Dr. Reddy’s Laboratories increased by Rs 29.90 to Rs 1277.90.
Select rally in IT stocks: 63 Moons up by Rs 40 to Rs 983: Sasken, Wipro, Coforge rise
Funds were in selective buying in IT-software services, technology stocks today. Rashi Peripearl rose by Rs 21.90 to Rs 447, 63 Moons Technology rose by Rs 39.85 to Rs 983.05, Sasken Technology rose by Rs 33.85 to Rs 2114, Wipro rose by Rs 3.85 to Rs 312. Coforge rose by Rs 68.50 to Rs 9470.35, TCS rose by Rs 23.80 to Rs 4348.200.
Operators selling, funds shifting into small, mid cap stocks Tips: 2614 stocks closed negative
The market sentiment remained negative due to continuous fall in Sensex, Nifty, continuous offloading by operators, conversion of stock tips into the market by funds and increased profit-booking. Out of total 4099 shares traded on BSE, the number of gainers decreased from 1521 to 1391 and the number of decliners increased from 2502 to 2614.
Net sales by FPIs/FIIs Rs.1317 crore in cash: Net purchases by DIIs Rs.4084 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 1316.81 crore in cash today on Wednesday. There were sales of Rs 14,662.01 crore against total purchases of Rs 13,345.20 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 4084.08 crore in cash today. There were total sales of Rs 9984.01 crore against total purchases of Rs 14,068.09 crore.
Investors’ asset-market capitalization fell by Rs 2.53 lakh crore to Rs 452.60 lakh crore.
With the continuous decline in Sensex, Nifty, selling in small and midcap stocks also increased, the wealth of investors i.e. the total market capitalization of companies listed on BSE decreased by Rs 2.53 lakh crore to Rs 452.60 lakh crore in the day.