look news india
Mumbai: With the NDA government led by Prime Minister Narendra Modi returning to power at the Centre and with the hopes of further economic growth and the formation of Modi 3.0 mega cabinet, the allocation of key cabinet ministries has been largely retained. By evening, the market created a new history in the opening session today. The bullish Sensex opened at a new high of 77,079.04 with a gain of 385.63 points, led by UltraTech Cement, Power Grid Corp, Nestle India, Axis Bank, NTPC, Tata Motors, Tata Steel. While the Nifty 50 spot rose 121.75 points to 23411.90. But the record rally eventually came to a halt as the bullish trade subsided with cautious bullish trade resulting from softening in global markets.
In the beginning, Sensex rose by 386 points to 77079 and Nifty rose by 122 points to 23411.
After last week's historic rally, funds turned soft today in the wake of market index based turmoil with profit booking in IT-software services, technology stocks as well as metals, auto frontline stocks and selling in finance stocks. Realty, healthcare, consumer durables stocks remained attractive. Index based caution was seen today as global markets softened on the back of European markets due to political turmoil over France in the European Parliamentary elections. Of course, the bullish cycle continued with a broad rally in small, mid cap stocks today as foreign and local funds, players, high net worth investors bought in. Sensex closed 203.28 points lower at 76490.08 and Nifty closed 30.95 points lower at 23259.20, down 50 points.
IT index falls 538 points: Coforge shed Rs 211, Quick Hill Rs 17, Mphasis Rs 78.
BSE IT index closed 537.63 points down at 35371.78 as funds booked big profits in IT-software services, technology stocks today. Coforge fell Rs 211 to Rs 5218.50, Quick Hill Technology fell Rs 16.80 to Rs 439, Mochip Technology fell Rs 5.95 to Rs 181.50, Amphas fell Rs 77.85 to Rs 2394.45, Continuous Falling Rs 109.70 to Rs 3741.55, Tech Mahindra fell Rs 37.45 to Rs 1340.05, KPIT Technologies fell Rs 43.20 to Rs 1479.75, Infosys fell Rs 33.70 to Rs 1499.65, Cyient fell Rs 10.45 to Rs 1499.65. fell by Rs 38.50 to Rs 1886.75, Wipro fell by Rs 9.45 to Rs 475, LTI Mindtree fell by Rs 70.35 to Rs 4905.20, TCS fell by Rs 36.60 to Rs 3856.30. While Black Box rose by Rs 20.25 to Rs 272, Datamatics rose by Rs 59.85 to Rs 610.25, Happiest rose by Rs 67.25 to Rs 908.05.
Funds return to healthcare stocks: Gufic, RPG Life, Piramal Pharma, JB Chemicals gain
Funds made heavy purchases in healthcare-pharmaceuticals companies as stocks rose today. Gufic Bio rose Rs 60.35 to Rs 375.50, Caplin Labs rose Rs 101.55 to Rs 1467.50, Gujarat Themis rose Rs 26.35 to Rs 433.70, Sasta Sundar rose Rs 18.55 to Rs 321.85, Suven Pharma rose Rs 39.15 to Rs 685.90, RPG Life rose Rs 79.95 to Rs 1560, Piramal Pharma rose Rs 7.05 to Rs 157.10, JB Chemicals rose Rs 80.75 to Rs 1881.10, Sanofi rose Rs 318.25 to Rs 9886.50, Cipla rose Rs 36.50 to Rs 1533.80.
Realty stocks gaining traction: Swan NG up Rs 26 to Rs 614: Prestige, Macrotech, Phoenix gain
In the real estate sector, funds continued to buy today as demand for properties increased in various metros of the country. Swan NG rose Rs 26.30 to Rs 614.15, Prestige Estate rose Rs 75.95 to Rs 1836.35, Macrotech Developers rose Rs 40.45 to Rs 1475.75, Phoenix Mills rose Rs 83.25 to Rs 3308.80, Oberoi Realty rose Rs 14.95 to Rs 1906. BSE Realty index closed 112.12 points higher at 8475.28.
Funds in Small Cap, Mid Cap, Cash Stocks, Operators Broadly Picked: 2631 stocks positive
The market breadth remained positive on massive buying in small, mid cap stocks by funds, operators. Out of total 4129 stocks traded on BSE, gainers were 2631 and losers were 1360. BSE Small Cap index rose 507.87 points to close at 49239.42 and BSE Mid Cap index rose 244.90 points to close at 44356.34.
FPIs/FIIs made net purchases of Rs 2572 crore in shares: DIIs made net purchases of Rs 2764 crore
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 2572.38 crore in cash today. Selling of Rs 11,149.59 crore was done against total purchases of Rs 13,721.97 crore. While DIIs-Domestic Institutional Investors made net purchases of Rs 2764.46 crore in cash today. Selling of Rs 14,169.53 crore was done against total purchases of Rs 16,933.99 crore.
Investors' asset-market capitalisation increased by Rs 1.73 lakh crore to Rs 425.22 lakh crore.
With Sensex, Nifty based rallying above the break, widespread buying in many small, mid cap stocks, the total wealth of investors i.e. the total market capitalisation of companies listed on BSE today rose by Rs 1.73 lakh crore to Rs 425.22 lakh crore in a day.
In Europe, France's CAKE index fell 127 points: The Dax fell 99 points: The Hang Seng fell 110 points.
After the global slowdown, political turmoil regarding France created an atmosphere in the markets of European countries. In the evening, France's CAKE 40 index was down by 127 points, Germany's DAX was down by 99 points and London's Fastie was down by 25 points. In the Asian markets, Japan's Nikkei 225 index rose by 354 points and Hong Kong's Hang Seng saw a fall of 110 points.
