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MUMBAI: In line with the rally in global markets, among domestic private banking stocks, HDFC Bank led by FIIs holding at 54.83 per cent at the end of June quarter and below the MSCI requirement of 55.5 per cent holding, led by Kotak Mahindra Bank today recorded gains amid a possibility of Kotak Mahindra's role in short selling of Adani Group shares by Hindenburg Research and denial by the group. Sensex crossed the 80,000 mark for the first time and set a new intraday high of 80074.30 and finally closed at a new high of 79986.80, up 545.35 points. Similarly, the Nifty 50 spot also made a new intra-day record high of 24309.15 and finally closed at a new high of 24286.50, up 162.65 points. Out of total 4021 stocks traded on BSE, number of gainers were 2295 and number of losers were 1640.
Bankex jumped 1036 points
In banking stocks, funds made aggressive purchases in private bank stocks today. On one hand, as per HDFC Bank's share holding pattern at the end of June 2024, FIIs' holding should be less than 55.4 per cent as per MSCI Ltd. According to MSCI Ltd, a new investment inflow of $3 to $4 billion may be pumped into the bank's shares. Shares of IndusInd Bank rose Rs 42 to Rs 1,811.60, Federal Bank shares rose Rs 6.30 to Rs 181.35, Axis Bank shares rose Rs 26 to Rs 1,279.75, IndusInd Bank shares rose Rs 42 to Rs 1,811.60 after Kotak Mahindra Bank rejected Hindenburg's claims. 1455.55, State Bank of India rose Rs 13.75 to Rs 840.10, ICICI Bank rose Rs 10.85 to Rs 1201.25. The BSE Bankex index rose 1036.57 points to close at 60344.16.
Buying capital goods stocks
BSE Capital Goods index jumped 712.80 points to close at 73757.67 as funds resumed aggressive buying in capital goods stocks. BHEL rose Rs 14.25 to Rs 311.30, Teamcan rose Rs 146.60 to Rs 4423.80, Bharat Electronics rose Rs 8.65 to Rs 314.55, LG Equipments rose Rs 19.70 to Rs 740, Kalpataru Power rose Rs 32.90 to Rs 1245.10, Grindwell Noten rose Rs 74.50 to Rs 2928, Thermax rose Rs 126.75 to Rs 5302, V-Guard rose Rs 11.30 to Rs 461.20, Hindustan Aeronautics rose Rs 10.50 to Rs 461.20. rose by Rs 114.35 to Rs 5457.40, ABB India rose by Rs 93.90 to Rs 8608.40.
Metal-mining stocks shine
Funds in metal-mining stocks also lagged global markets today. With several infrastructure projects taking shape in the country, expectations of a big increase in metal demand have boosted company profitability estimates. SAIL rose Rs 4.85 to Rs 151.55, NMDC rose Rs 6.90 to Rs 251.25, JSW Steel rose Rs 13.95 to Rs 951.95, Vedanta rose Rs 6.05 to Rs 463.90, Coal India rose Rs 6.15 to Rs 485.10, Tata Steel rose Rs 1.85 to Rs 176.35, Jindal Stainless rose Rs 6.95 to Rs 822, Jindal Steel rose Rs 4.45 to Rs 1049.25. The BSE Metal index closed 323.72 points higher at 33550.78.
Investors' wealth increased by Rs 3.25 lakh crore
Investor wealth i.e. total market capitalisation of BSE-listed companies rose by Rs 3.25 lakh crore to a new record high of Rs 445.43 lakh crore as investors again bought several small, mid cap, Group A, cash stocks today with the index-based recording a record rally.
FPIs made net purchases of Rs 5484 crore in shares
Foreign Portfolio Investors – FPIs, FIIs bought shares worth Rs 5483.63 crore in cash today. Total shares sold worth Rs 12,540.29 crore against purchase of Rs 18,023.92 crore. While DIIs-Domestic Institutional Investors made net sales of Rs 924.43 crore in cash today. Total shares sold worth Rs 15,045.58 crore against purchase of Rs 14,121.15 crore.
