look news india
Mumbai: Funds rallied behind HDFC Bank today due to caution in Europe, US markets on fears of war breaking out between Iran and Israel anytime after Hezbollah missile attack on Israel and the negative impact of the decision to increase HDFC Bank's weightage less than expected. The change in the MSCI index in August was Rs 1.50 crore. With selling in HDFC Bank, Bajaj Finance, State Bank of India and Tata Group stocks including Tata Motors, Tata Steel as well as Power, Metal, FMCG, Auto, Capital Goods frontline stocks, Sensex again lost the 80000 level and finally closed 692.89 points lower at 78956.03 and Nifty 50 spot fell 208 points to 24139. Funds, pundits saw unexpected big gaps in many stocks today, as well as big profit booking again in small, mid cap stocks.
HDFC Bank fell Rs 57 to Rs 1604: State Bank fell Rs 17 to Rs 797: Bankex fell 836 points
Funds today sold off banking-finance stocks in a big way. HDFC Bank's shares fell by Rs 57.45 to Rs 1,603.60 due to selling as its weightage in the MSCI index was increased less than expected. Canara Bank's price fell by Rs 2.85 to Rs 106.75, State Bank of India's price fell by Rs 15.70 to Rs 797.30.
Due to strict rules for housing finance companies, PNB Housing along with GIC also collapsed
The Reserve Bank of India also tightened norms for deposit taking housing finance companies which had a negative impact on the sell-off in finance stocks, Infibeam fell Rs 1.53 to Rs 31, LIC India fell Rs 45.75 to Rs 1028.75. , down Rs 12.15 to Rs 288.05, PNB Housing down Rs 558.40 to Rs 13,262.05, GIC Housing down Rs 9.15 to Rs 232.85, Dhani down Rs 1.76 to Rs 50.67, Anand Rathi down Rs 104.30 to Rs 3557.35, CAMS down Rs 138 to Rs 4124.25, Shriram Finance down Rs 84.05 to Rs 2892.85, IIFL down Rs 12.30 to Rs 407.20, AGS Transactions down Rs .3.41 to Rs 93.67, SG Finance down Rs 15.20 to Rs 392.65, TVS Holding down Rs 558.40 to Rs 13,262.05.
Big difference again between small, mid cap stocks: Market condition very bad: 2676 closed negative
The market conditions turned very bad today in small, mid cap, cash stocks and the selling became broad based with large gaps in many stocks. Out of total 4026 stocks traded on BSE, the number of losers was 2676 and the number of gainers was 1266.
Tata Motors Rs 22 to Rs 1053: Sale in Madrasan Sumi, Balakrishnan, Cummins, Maruti Suzuki, Hero
Funds booked profits in automobile company stocks today. Motherson Sumi fell Rs 7.25 to Rs 180.75, Tata Motors fell Rs 22.55 to Rs 1053.55, Balkrishna Industries fell Rs 50.45 to Rs 2795, Apollo Tyres fell Rs 7.10 to Rs 486, Hero Motocorp fell Rs 72.45 to Rs 5240.45, Exide Industries fell Rs 6.80 to Rs 492.40, Cummins India fell Rs 44.90 to Rs 3705.35, Maruti Suzuki fell Rs 109 to Rs 12,165.55. BSE Auto index fell 398.95 points to close at 56721.68.
Titan gains Rs 59, Dixon Rs 318, Blue Star Rs 96: Consumer index rises 852 points.
Funds bought shares of consumer durables companies heavily today. After being included in the MSCI Global Standard Index, the share of Dixon Technologies rose by Rs 318.60 to Rs 11,985.50. Blue Star rose by Rs 96.20 to Rs 1714.55, Titan Company rose by Rs 59.30 to Rs 3384.30, Havells India rose by Rs 15.25 to Rs 1826, CG Power rose by Rs 4.45 to Rs 436. The BSE Consumer Durables Index rose by 852.34 points to close at 59773.99.
Among FMCG stocks, Venky's, Globus Spirits, Dams, Vadilal, Dodla Dairy, Gokul Agro, ITC declined.
Shares of FMCG, dairy sector companies witnessed profit booking and selling by operators today. Vanquis fell Rs 154.65 to Rs 2264.80, Globus Spirits fell Rs 59.75 to Rs 885.30, GM Breweries fell Rs 28.70 to Rs 772, Gokul Agro fell Rs 5.70 to Rs 204.40, Dabur India fell Rs 14.15 to Rs 606.15, Vadilal Industries fell Rs 108.95 to Rs 460.95, Dodla Dairy fell Rs 22.60 to Rs 1197.70, ATFL fell Rs 50 to Rs 854.50.
Sugar stocks Bajaj Hindustan, Triveni, Renuka Sugar rose due to rise in ethanol prices.
Sugar stocks rose on reports that the government may hike ethanol prices for 2024-25 to boost ethanol production and achieve blending targets. Praj Industries rose Rs 30.10 to Rs 735.90, Bajaj Hindustan rose Rs 1.29 to Rs 40.41, Balrampur Chini rose Rs 15.40 to Rs 510.95, Shri Renuka Sugar rose Rs 1.21 to Rs 47.33, Mawa sugar rose Rs 2.80 to Rs 107.65, Ugar Sugar rose Rs 2.34 to Rs 78.18.
Net Sale of Shares by FPIs/FIIs Rs.2107 crore: Net Purchase by DIIs Rs.1240 crore
Foreign Portfolio Investors – FPIs, FIIs made a net sale of shares worth Rs 2107 crore in cash today on Tuesday. Total sales of Rs 16,609.61 crore were made against purchase of Rs 14,502.44 crore. While DII-Domestic Institutional Investors made a net purchase of Rs 1239.96 crore in cash today. Total sales of Rs 11,765.82 crore were made against purchase of Rs 13,005.78 crore.
Investors' wealth in stock-market cap declined by Rs 4.52 lakh crore to Rs 445.30 lakh crore
Sensex, Nifty based indices once again declined with selling in a bunch of funds, operators small, mid cap, stocks and the value of investors' money i.e. the total market capitalization of companies listed on BSE also fell by Rs 4.52 lakh crore to Rs 445.30 lakh crore. Lakh crores left today.
