look news india
Mumbai: In contrast to caution in global markets, Indian stock markets hit record highs today amid concerns over Japan's ban on the sale of chip manufacturing equipment to China and the killing of Israeli hostages by Hamas. Funds continued to flow into the Indian capital market in the primary market as well as the secondary market. The build-up to Bajaj Housing Finance's IPO continued today, with financial services stocks and banking stocks led by Bajaj twins stock, Bajaj Finance, Bajaj Finserv rallying. Along with this, Nifty closed positive for the 13th consecutive day on continued attraction in IT stocks led by HCL Technology and buying in FMCG stocks including ITC, Hindustan Unilever. Nifty 50 spot hit a new all-time high of 25333.65 intra-day and finally closed at a new high of 25278.70, up 42.80 points. While the Sensex hit a new record high of 82725.28, the Nifty closed at a new high of 82559.84, up 194.07 points.
Attraction in Fi shares
Shares of Bajaj Group companies saw a special rise today. Bajaj Auto made a new record of Rs 11,151 and finally closed at Rs 11,123.50, up Rs 227.40. Funds led by Bajaj Twins were attractive in financial service stocks today. According to the IPO report of Bajaj Housing Limited on September 9, Bajaj Finance rose Rs 229.55 to Rs 7435.70, Bajaj Finserv rose Rs 57.65 to close at Rs 1840.10. Bajaj Holdings rose Rs 565.80 to Rs 10,633.95. Jio Financial Services rose Rs 22.90 to Rs 344.65, Motilal Oswal rose Rs 30.70 to Rs 751.35, AB Capital rose Rs 6.85 to Rs 226.80.
Bankex gained 187 points
Funding was also seen in banking stocks today. Indusind Bank rose by Rs 22.10 to Rs 1448.60, Bank of Baroda rose by Rs 3.75 to Rs 253.90, Canara Bank rose by Rs 1.30 to Rs 112.80, Axis Bank rose by Rs 13.15 to Rs 1188.65. Karnataka Bank rose by Rs 8.80 to Rs 235.50, IDFC First Bank rose by Rs 1.20 to Rs 75.04. The BSE Bankex index rose by 186.77 points to close at 58498.28.
Selling in metal stocks
The selloff in metal-mining stocks came as concerns over China's economic situation, weak industrial output data and crisis in the steel industry put pressure on global metal prices. Jindal Stainless fell Rs 50.55 to Rs 739.55, NMDC fell Rs 6.35 to Rs 216.40, Hindalco fell Rs 17.50 to Rs 683.80, Vedanta fell Rs 4.95 to Rs 463.30, Jindal Steel fell Rs 5.80 to Rs 963.50. BSE Metal index closed 381.56 points lower at 32074.25.
Decline in capital goods stocks
The BSE Capital Goods index today closed 595.28 points lower at 72574.09 as overbought conditions in Capital Goods-Power stocks eased. Siemens fell Rs 119.80 to Rs 6777.05, Praj Industries fell Rs 12.90 to Rs 755.25, Bharat Forge fell Rs 25 to Rs 1562, Schaeffler Industries fell Rs 63.15 to Rs 3879.
Attraction in IT stocks
IT – Software Services, Technology stocks continued to attract fund attention today. HCL Technology rose Rs 54.90 to Rs 1807.05, Zensar Technology rose Rs 22.10 to Rs 789.75, Infosys rose Rs 20.80 to Rs 1964.10, Axiscades rose Rs 15.75 to Rs 661.20.
DII purchases worth Rs 356 crore
Today-Monday, FIIs made a net purchase of Rs 1735.46 crore in cash. While DII-domestic institutional investors made a net purchase of Rs 356.37 crore today.
Investors' wealth increased
The market range was negative today with widespread profit booking in small, mid cap, cash stocks. With the Sensex, Nifty based record gains, the total wealth of investors i.e. the total market capitalization of companies listed on BSE increased by Rs 47 thousand crore today to a new record level of Rs 464.85 lakh crore due to the attraction of many A group stocks.