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Mumbai: As Samvat 2080 is coming to a close, market confidence is beginning to weaken as a result of ongoing selling by foreign portfolio investors (FPIs) in consumer durables, metal-mining, oil-gas stocks in Indian stock markets. Coming also increased the pace. Sensex, Nifty based markets fell again today due to caution in global markets due to weakness in Asia, European markets, despite gains in Nasdaq stock market yesterday due to performance of Google's parent company Alphabet and Israel's weak post ceasefire. Indications were found. Hezbollah in Lebanon. Although small cap stocks were again the drivers today, local funds were underweight in many stocks. Along with this, capital goods stocks as well as FMCG stocks also stopped major losses. Sensex fell 426.85 points to 79942.18 and Nifty 50 spot index fell 126 points to 24340.80.
Profit booking in banking stocks: ICICI Bank, Kotak Mahindra Bank, State Bank, Axis Bank declined.
In banking-finance stocks today, many stocks broke their rising trend due to fund raising and profit-booking. ICICI Bank fell by Rs 20.20 to Rs 1312.20, Kotak Mahindra Bank fell by Rs 23.25 to Rs 1736.50, Bank of Baroda fell by Rs 3.25 to Rs 10.25.822.40, Axis Bank fell by Rs 13.45 to Rs 1172. 55 rupees , HDFC Bank declined by Rs 16 to Rs 1735. BSE Bankex index fell 619.04 points to close at 59050.09.
IT stocks Sask, Infosys, HCL Tech fall despite gains on Nasdaq over Alphabet.
Despite the rise in the American stock market Nasdaq after the good results of Google's company Alphabet yesterday, selling was seen in IT-technology stocks today amidst the race between America and China to get ahead in the technology sector. Sasken fell by Rs 37.15 to Rs 1694.90, Infosys fell by Rs 37 to Rs 1801.75, HCL Technology fell by Rs 22.50 to Rs 1850, Persistent LTTS fell by Rs 57.05 to Rs 5615, LTTS fell by Rs 50.30 Rs 5150 , Tech Mahindra fell by Rs 11 to Rs 1684.80, Mface fell by Rs 16 to Rs 3005.15.
Capital goods stocks continue to rise: Rail Vikas rises by Rs 27 at Rs 466: Praj Industries, Timken rise
Select funds remained bullish on capital goods-power stocks. Rail Vikas increased by Rs 26.80 to Rs 465.65, Praj Industries increased by Rs 26.25 to Rs 726.95, Bharat Forge increased by Rs 34.70 to Rs 1418.35, Carborundum Universal increased by Rs 28.60 to Rs 13. Rs 98.60, LG Equipment rose by Rs 10.70 to Rs 605.50.
Reliance X-Bonus strong: Profit booking in HPCL, ONGC, Petronet LNG
Profit-booking was seen in oil marketing PSU stocks as international crude oil prices remained marginally firmer today. HPCL fell by Rs 10.70 to Rs 377.55, Oil India fell by Rs 7.90 to Rs 471.30, ONGC fell by Rs 3.30 to Rs 261.80, Petronet LNG fell by Rs 3.35 to Rs 331, GAIL India fell by Rs 3.30 to Rs 331, down by Rs 1.45 from Rs 203.80. Today when Reliance Industries' ex-bonus happened, it increased by Rs 5 to Rs 1343.95.
Valuations in small cap stocks: Selling in mid caps: Market breadth positive: 2857 shares closed positive
With preparations for the end of Samvat 2080, over valuations in small, mid cap stocks in the last few days led to profit booking in many stocks, prices fell by 30 to 35 per cent and now some of these stocks are getting good valuations, Local funds, high net worth investors raised their valuations and the market sentiment remained positive. Of course, there was selling in midcap shares today. Out of total 4011 shares traded on BSE, the number of gainers increased from 2189 to 2857. Whereas the number of incidents decreased from 1679 to 1075.
Net selling of shares by FPI/FII Rs.4614 crore: Net buying by DIIs Rs.4518 crore
FIIs sold shares worth Rs 4613.65 crore in cash today-Wednesday. While DII-Domestic Institutional Investors bought net shares worth Rs 4518.28 crore today. There were sales of Rs 9075.78 crore against total purchases of Rs 13,594.06 crore.