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Mumbai: US on the global front Federal Reserve Chairman Jerome Powell removed the clouds of uncertainty in terms of interest rates and assured the Federal Reserve interest rate cut, along with the strength in global markets, the market made new highs at the end of index based volatility. Indian Stock Market Too. Sensex hit new all-time high of 74501.73 and Nifty hit 22619 intra-day today ahead of RBI monetary policy review. However, the upside got hit by many small, mid-cap stocks as cautious players, operators booked profits. International crude oil prices rose to a five-month high as OPEC countries firmed up production cuts, with caution seen in new big purchases. Nifty 50 spot volatility today touched a low of 22303.80, touched a new all-time high of 22619 and finally closed at 22514.65, up 80 points. While the Sensex jumped from the low level to 73485.12 and created a new history of 74501.73, it finally closed at 74227.63 with a rise of 350.81 points.
Funds rise in banking shares
Among banking stocks today, funds gathered behind HDFC Bank. The stock closed Rs 45.35 higher at Rs 1,527.90 on fresh disclosures in HDFC Bank, a bullish foreign fund analyst said MSCI may increase its weighting amid falling stake by FIIs. AU Small Finance Bank rose by Rs 16 to Rs 621.20, IDFC First Bank rose by Rs 1.09 to Rs 79.50, Kotak Mahindra Bank rose by Rs 17.20 to Rs 1748.70. BSE Bankex index closed 307 points higher at 54139.50.
IT index rose 332 points
BSE IT index closed 332.22 points higher at 36224.16 as funds bought heavily in IT-software services, technology stocks today. Genesis International rose by Rs 65.95 to Rs 695.95, Moschip Technology rose by Rs 6.26 to Rs 105.86, Nucleus Software rose by Rs 65.05 to Rs 1409.50, Proteus AgarOne rose by Rs 49.20 to Rs 1162.50, Cient rose by Rs 65.05 to Rs 1409.50. Up by Rs 91.20 to Rs 2157, Black Box up by Rs 9.50 to Rs 266.25, Zeagle Prepaid up by Rs 10.35, Coforge up by Rs 154.95 to Rs 5817, Signature Tech up by Rs 34.10 to Rs 5817. 1338, Mastech rose by Rs 58.50 to Rs 2676.95, Tech Mahindra rose by Rs 21.80 to Rs 1277.80, Persistent rose by Rs 64.50 to Rs 4030, TCS rose by Rs 55.80 to Rs 4003.50, L&T Technology rose by Rs 55.80 to Rs 4003.50. Increased by Rs 75.95 to Rs 5831.05.
Selling in oil shares continues
With international crude prices high, oil marketing funds were selling PSU stocks as the Organization of Oil Producing Countries (OPEC) was determined to cut production. HPCL fell by Rs 12.50 to Rs 461.75, Linde India fell by Rs 199.40 to Rs 7037.95, Reliance Industries fell by Rs 15.95 to Rs 2926.45, ONGC fell by Rs 6.35 to Rs 269, BPCL fell by Rs 15.35 to Rs 269.12.40 down to Rs 598.6 5 rupees, Petronet LNG fell by Rs 6.30 to Rs 27640, GAIL fell by Rs 2.60 to Rs 186.55. The BSE Oil-Gas index fell 464.70 points to close at 27875.33.
Finance stocks rose
Funds bought broadly in financial services, other banking stocks today. Suryoday Small Finance Bank up by Rs 16.85 at Rs 184.60, Ujjivan up by Rs 33.85 at Rs 568.70, Ujjivan Small Finance Bank up by Rs 3.20 at Rs 54.27, Spandana Spurti up by Rs 48.20 at Rs 902.05, CSB Bank up by Rs 18.30 at Rs 393.40, PN B Housing Finance 35.65 Rupee increased by Rs 770, Housing Financiers increased by Rs 60.50 to Rs 1456.30, UTI AMC increased by Rs 35.10 to Rs. .897.30, Bandhan Bank rose by Rs 7.60 to Rs 198.10, Tata Instruments rose by Rs 256.20 to Rs 7462.65, Home First rose by Rs 32.25 to Rs 863.
Profit booking has started on the rise in small and mid caps.
Market conditions remained very positive with broad appeal in many small, mid cap, cash stocks for the fourth consecutive day, undoubtedly profit booking started today with many stocks jumping. Of the total 3947 shares traded on BSE, the number of gainers was 2382 and the number of decliners was 1465. DII sales Rs 893 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 1136.47 crore in cash today-Thursday. There were sales of Rs 14,615.09 crore against total purchases of Rs 13,478.62 crore. While DII-domestic institutional investors made a net sale of shares worth Rs 893.11 crore in cash today. There were sales of Rs 13,111.98 crore against total purchases of Rs 12,218.87 crore.
Investors' wealth increased by Rs 91 thousand crore
Today, due to the rise in many shares, the total market capitalization of BSE listed companies i.e. the total wealth of investors increased by Rs 92 thousand crore to Rs 398.27 lakh crore in a single day.