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Mumbai: Sensex again slipped below 74000 level and Nifty below 22500 level due to the end of May trend in derivatives and continued heavy selling by foreign portfolio investors (FPIs) on weekly expiry. Ahead of the final phase of Lok Sabha elections on Saturday, stocks witnessed a massive rally as there was talk of the 400-plus dream not being fulfilled and unexpected turmoil in some quarters was gaining momentum. In which today, on the last day of the trend, there was weak results of Tata Steel against the rise in banking-finance stocks, selling in shares of Tata Group companies, selling in Bajaj Finance, Bajaj Finserv as well as IT stocks and selling in power. There was panic selling in auto stocks. Sensex fell 834.17 points to a low of 73668.73 and finally closed at 73885.60 with a decline of 617.30 points. While the Nifty 50 spot at one point fell 287.70 points to hit a low of 22417 and finally closed 216.05 points lower at 22488.65.
Sell-off in Tata Group stocks: Tata Steel profit drops by Rs 10 to Rs 164: Titan, Tata Motors fall
Funds saw a big sell-off in shares of Tata Group companies today. Tata Steel's quarterly net profit fell 64.5 per cent to Rs 555 crore as funds sold shares in the range of Rs 10.10 to Rs 164.15 on weak results. Titan Company fell Rs 108.55 to Rs 3271.85, Tata Motors fell Rs 19.65 to Rs 923.95, Tata Consumer fell Rs 4.10 to Rs 1067.20, TCS fell Rs 67.55 to Rs 3736.10, Rs 7.50 to Rs 425.35, Voltas fell Rs 24.80 to Rs 1350.50, TRF fell Rs 11.50 to Rs 563.50, Tata Elxsi fell Rs 95 to Rs 7194.85, Tata Chemicals fell Rs 28.75 to Rs 1043.55, Tata Investment Corporation fell Rs 98.80 to Rs 6438.90, Toyo Rolls fell Rs 1.32 to Rs 101, Tata Communication fell Rs 27.75 to Rs 1069. Came down to Rs 1762.70.
Short covering in banking stocks: ICICI Bank, Axis Bank, Paytm, Ugro Capital rise
Funds observed selective valuation with short covering in banking stocks today. ICICI Bank rose Rs. 12.60 to Rs. 1114.85, Axis Bank rose Rs. 11.65 to Rs. 1171.35, IDFC First Bank approves raising Rs. 3000 crore rose Rs. 77.55, HDFC Bank rose Rs. 6.75 to Rs. 1514.60, State Bank of India rose Rs. 3.10 to Rs. 826.05. BSE Bankex index rose 292.87 points to close at 55603.85.
Healthcare stocks gap down: Marksons Pharma, Medicom Bio, Alkem, Wockhardt, SMS Pharma fall
Healthcare-Pharmaceuticals stocks witnessed a decline today due to heavy selling with many stocks. Wockhardt fell by Rs 28.25 to Rs 537.05, Biocon fell by Rs 12.80 to Rs 310.80, IPCA Lab fell by Rs 44.55 to Rs 1249.65, Piramal Pharma fell by Rs 4.30 to Rs 145.65, Apollo Hospitals share price fell by Rs 4.30 to Rs 145.65, Suven Pharma fell by Rs 145.70 to Rs 5761, Suven Pharma fell by Rs 15.90 to Rs 631.10. While Glaxo Pharma rose by Rs 56.35 to Rs 2593, Neuland Lab rose by Rs 115.45 to Rs 6195.20, Narayana Hudlya rose by Rs 21.25 to Rs 1169.20.
Among PSU stocks, KIOCL drops Rs 28 to Rs 262: Hindustan Copper, BEML fall
Funds booked huge profits on gains in PSU stocks today. KIOCL fell Rs 28.10 to Rs 422.35, Hindustan Copper fell Rs 22 to Rs 355.05, Mixed Metal fell Rs 20 to Rs 426.55, SJVN fell Rs 5.95 to Rs 133.70, MRPL fell Rs 8.80 to Rs 206.95, BEML fell Rs 176.90 to Rs 4277.55, Cochin Shipyard fell Rs 63.75 to Rs 1956.75, Power Grid Corp fell Rs 9 to Rs 308.
APL, NMDC, SAIL, JSW Steel, Hindalco fall: Metal index down 885 points
Today, the BSE Metal index closed 884.55 points lower at 32299.71 due to heavy selling in metal-mining stocks. Vedanta fell Rs 12.95 to Rs 441.05, Hindalco fell Rs 10.20 to Rs 695.15, JSW Steel fell Rs 15.25 to Rs 887.30, Jindal Steel fell Rs 8.90 to Rs 1029.90.
IT index down 672 points: Zeggle Prepaid, Sonata, Tech Mahindra, AxisCAD, Wipro fall
IT-software services, technology stocks also witnessed continued selling following the Nasdaq. Tech Mahindra fell Rs 40.45 to Rs 1245.35, Wipro fell Rs 13.95 to Rs 436.95, Coforge fell Rs 145.85 to Rs 4994.60, Mastek fell Rs 67.80 to Rs 2418, L&T Technology fell Rs 122.95 to Rs 4542.35, HCL Technology fell Rs 20.30 to Rs 1332. BSE IT index fell 672.63 points to 33531.45.
Small cap, mid cap, cash stocks gap up due to extraordinary sell-off: 2733 stocks closed negative
Today, Sensex, Nifty declined as well as gap down in many stocks due to exceptional broad based selling in mid cap, small cap, cash stocks. Out of total 3917 stocks traded on BSE, number of decliners were 2733 and number of gainers were 1098. BSE Small Cap index closed 634.46 points higher at 46,908.16 and BSE Mid Cap index closed 525.30 points lower at 42,827.11.
FPIs/FIIs made net sales of Rs.3050 crore in shares: DIIs made net purchases of Rs.3433 crore
FIIs sold shares worth Rs 3050.15 crore in cash today on Thursday. While DII-domestic institutional investors made net purchases of shares worth Rs 3432.92 crore in cash today.
Investors' asset-market capitalisation fell by Rs 4.73 lakh crore to Rs 410.36 lakh crore.
Investors' net wealth, or the total market capitalisation of BSE-listed companies, fell by Rs 4.73 lakh crore in a single day to Rs 410.36 lakh crore today as Sensex, Nifty based indices along with several cash stocks and several mid-cap stocks witnessed selling.