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Mumbai: There was a big change in F&O today on the expiry day of Sensex. Sensex, Nifty were lower in global markets today with metal-mining stocks falling early on rising geopolitical tensions over Russia’s missile attack on Ukraine and rumors of no surprise on China’s CEWC stimulus. But in a sudden surge, the market gave Sensex, Nifty based quick V-seep recovery as funds moved into stocks including FMCG, IT stocks and short covering in other stocks. Traders who were trading bullish were robbed by today’s F&O stop losses as the amazing early rallies got out of control.
Stop loss robs bullish traders: Sensex falls by 2050, Nifty rises 590 points
Sensex initially fell 1,207.14 points to hit a low of 8,0082.82 on selling in metal-mining, banking frontline stocks, funds bought heavily in Bharti Airtel, IT stocks and FMCG stocks and other frontline banking, auto, cement, capital Bought goods shares. The gap of Sensex increased and closed at 82213.92 and finally it closed at 82133.12 with a jump of 843.16 points. In this way the Sensex recovered 2050 points from its initial fall. Nifty 50 Spot also fell 367.90 points to a low of 24180.80 in the next close, after quick recovery in V-September, it touched a high of 24792.30 and finally closed 219.60 points higher at 24768.30. In this way, a recovery of 590 points was seen in Nifty today.
ADF Foods, ITC, DCM Shriram, Hindustan Unilever gain in FMCG shares.
FMCG stocks witnessed a broad correction today as funds cut prices and bought heavily after November inflation data came in below expectations. ADF Foods rose by Rs 15.05 to Rs 344.45, DCM Shriram rose by Rs 6.60 to Rs 210.30, ITC rose by Rs 9.55 to Rs 470.15, Hindustan Unilever rose by Rs 44.90 to Rs 2389.45, Nestle India Dabur rose by Rs 29.60 to Rs 2253.95. Colgate Palmolive rose by Rs 5.70 to Rs 512.60, Colgate Palmolive rose by Rs 27.20 to Rs 2870.70, Everreddy rose by Rs 7.05 to Rs 385.35, Hutson rose by Rs 32.90 to Rs 1105.60. BSE FMCG index closed 221.71 points higher at 20864.10.
Metal-mining stocks lag behind China: Selling in SAIL, NMDC, NALCO, Tata Steel
Funds weighed heavily on metal-mining stocks today as metal prices fell after expected stimulus measures to spur an economic recovery in China failed to materialize. SAIL fell by Rs 4.45 to Rs 124.75, NMDC fell by Rs 7 to Rs 233.70, NALCO fell by Rs 4.40 to Rs 226.50, Tata Steel fell by Rs 1.90 to Rs 148.95, Hindalco fell by Rs 1.90 to Rs 148.95. Up by Rs 7.15 to Rs 662, APL Apollo down Rs 14.50 to Rs 1592.30, Jindal Steel down Rs 5.45 to Rs 995.30. While Jindal Stainless rose by Rs 7.55 to Rs 759.55, Coal India rose by Rs 1.70 to Rs 410.65. BSE Metal Index fell 242.56 points to close at 31741.18.
Kotak Bank rises by Rs 36 to Rs 1806 Among banking stocks: State Bank, HDFC Bank, ICICI rise.
After selling in IndusInd Bank, Canara Bank, Bank of Baroda etc. in the beginning today, rapid recovery was seen in other banking stocks. Kotak Mahindra Bank rose by Rs 36.50 to Rs 1806.15, ICICI Bank rose by Rs 16.15 to Rs 1345.10, State Bank of India rose by Rs 7.95 to Rs 861.50, HDFC Bank rose by Rs 13.10 to Rs 861.50. BSE Bankex index closed at 60997.39, up 490.60 points.
IT stocks continue to rise: Infosys reaches new high of Rs 2006: Black Box, Sasken, HCL rise
Funds continued selective buying in IT-software services, technology stocks today. Infosys made a new high of Rs 2006.80 and finally gained Rs 13.10 to reach Rs 1999.85. Black Box rose by Rs 32.35 to Rs 694.25, Sascon Technology rose by Rs 53.15 to Rs 2123.70, Jeagle Prepaid rose by Rs 13.65 to Rs 560.85, Emudra rose by Rs 16.95 to Rs 947.80, HCL Technology rose by Rs 32.65 to Rs 1968.30. Oracle Finserv rose by Rs 178.10 to Rs 12,278.90, Coforge rose by Rs 133.65 to Rs 9322.25. BSE IT index closed at 45687.93, up 258.85 points.
Consumer index rises by 753 points: Blue Star rises by Rs 48 to Rs 2100: Titan, Amber rise
The fund also gained in shares of consumer durables companies. Blue Star rose by Rs 48.55 to Rs 2100, Titan Company rose by Rs 62.15 to Rs 3509.05, CG Consumer rose by Rs 6 to Rs 411.95, Dixon Technology rose by Rs 260.35 to Rs 17,957.75. Voltas rose by Rs 23.50 to Rs 1811.80, Amber Enterprises rose by Rs 52.45 to Rs 5786.10. BSE Consumer Durables index closed 753.15 points higher at 66838.76.
Covering lower in auto stocks: Balakrishnan Industries, Apollo Tyres, MRF, Maruti Suzuki up.
Shares of the automobile company were also bought by select funds with covering after initial fall today. Balkrishna Industries increased by Rs 51.70 to Rs 2861.45, Apollo Tires increased by Rs 7.15 to Rs 548.15, MRF increased by Rs 1452.55 to Rs 1,33,313.75, Ashok Leyland increased by Rs 2.15 to Rs 232, Maruti Suzuki increased by Rs 100.15 to Rs 11,265.90, Bajaj Auto rose by Rs 61.95 to Rs 9024.30, Tata Motors rose by Rs 4.30 to Rs 790.60, Eicher Motors rose by Rs 23.55 to Rs 4829.80.
FPI/FII net buying in cash Rs 2335 crore: DII net selling Rs 732 crore
Foreign portfolio investors – FPI, FII made net purchases of shares worth Rs 2335.32 crore in cash today Friday. There were sales of Rs 13,633.07 crore against total purchases of Rs 15,968.39 crore. While DII-Domestic Institutional Investors made a net sale of Rs 732.20 crore in cash today. There were sales of Rs 10,349.17 crore against total purchases of Rs 9616.97 crore.
Despite lower preferred valuations in small, mid-cap stocks, 2173 shares closed negative due to panic buying.
Sensex, Nifty based V-SEAP with sharp recovery in funds, market sentiment remained negative as active shares remained high today despite selective buying by players in small group, small and mid cap stocks due to initial jitters. Of the total 4105 stocks traded on BSE, the number of gainers was 1818 and the number of decliners was 2173.
The asset-market capitalization of investors increased by Rs 1.27 lakh crore to Rs 459.42 lakh crore.
Due to rapid recovery in Sensex, Nifty and less selective buying in small and mid caps, investors’ wealth i.e. total market capitalization of BSE listed companies increased by Rs 1.27 lakh crore in a single day to Rs 459.42 lakh crore. A group stock.