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Mumbai: Tata Sons, the holding company of Tata Group, sold its Rs 9,000 crore stake in Tata Consultancy Services (TCS) at a floor price of Rs 4,001 per share as part of a debt restructuring plan to avoid listing on the stock exchanges. Additionally, the Bank of Japan changed its key interest rate from negative territory to positive after 17 years, from minus 0.10 to plus 0.10 and the U.S. Global markets remained subdued today on expectations that the Federal Reserve will keep interest rates unchanged. As March ended, funds, operators, high net worth investors, retail investors were looking to enter losses, but today a new round of hammering into small, mid cap stocks started. In the end, Sensex fell 736.37 points to close at 72012.05 and Nifty fell 238.25 points to close at 21817.45.
Tata Sons continues to sell, TCS falls by Rs 167 to Rs 3977: Wipro, HCL, Oracle fall
Funds witnessed big selling in IT-software services, technology stocks today behind TCS. TCS fell Rs 167.20 to Rs 3977.55 on the development of Tata Sons selling shares worth Rs 9,000 crore in a block deal at the floor price of Rs 4,001 per share. So the market capitalization of TCS also decreased from Rs 14,99,606.82 crore to Rs 14,39,112.40 crore today. With this, 63 Moons Technology fell by Rs 17.35 to Rs 388.10, L&T Technology fell by Rs 199.75 to Rs 5184.90, Wipro fell by Rs 15.55 to Rs 494.80, HCL Technology fell by Rs 43 to Rs 43.80. .1598.95, Coforge fell by Rs 145.80 to Rs 5549.35, Infosys fell by Rs 40.35 to Rs 1561.95. BSE IT index fell 992.59 points to close at 36356.04.
Healthcare stocks fall: SMS Pharma, Shilpa, Glenmark Life, Bliss GVS fall
Healthcare stocks were in poor health today. BSE Healthcare index fell 512.65 points to close at 33696.84 due to heavy selling in several pharma stocks. SMS Pharma fell by Rs 8.60 to Rs 178.95, Shilpa fell by Rs 20.40 to Rs 438.75, Glenmark Life fell by Rs 31.20 to Rs 728.75, Cipla fell by Rs 52.05 to Rs 1435.30, Sun Pharma Industries fell by Rs 31.20 to Rs 1435.30. It fell by Rs 24.45 to Rs 1547, Sanofi India fell by Rs 126.75 to Rs 7684.40, RPG Life fell by Rs 34.40 to Rs 1493.15, Lupine fell by Rs 47.40 to Rs 1565.95.
Capital goods index fell 844: Siemens fell Rs 168 to Rs 4665: Larsen fell Rs 55 to Rs 3502.
Today, due to heavy selling in capital goods stocks, BSE Capital Goods Index fell 843.67 points and closed at 56354.05. Siemens fell by Rs 167.75 to Rs 4665, Suzlon NG fell by Rs 1.30 to Rs 37.13, Thermax fell by Rs 117.10 to Rs 3588, BHEL fell by Rs 5.55 to Rs 218.65, ABB India fell by Rs 1.30 to Rs 218.65. .118.30 fell to Rs 5646, Larsen & Toubro fell Rs 54.75 to Rs 3502.45, Honeywell Automation fell Rs 221.80 to Rs 37,990.45. While Carborundum Universal rose by Rs 22.20 to Rs 1111.10, CG Power rose by Rs 8.45 to Rs 478.90, SKF India rose by Rs 63.10 to Rs 4282.15.
Sugar stocks fall: Among FMCG stocks, Gujarat Ambuja Exports, ATFL, AVT Natural declined.
FMCG-The BSE FMCG index fell 406.76 points to close at 18,894.57 due to the rise in Chinese stocks again today. Gujarat Ambuja Exports fell by Rs 10.25 to Rs 169.55, Colgate Palmolive fell by Rs 125.50 to Rs 2608.05, Patanjali fell by Rs 63 to Rs 1353.60, Nestle India fell by Rs 87.10 to Rs 2496.65, Britannia fell by Rs 155 to Rs 4819.30. Among sugar stocks, Ugar Sugar fell by Rs 2.41 to Rs 68.28, Bajaj Hindustan fell by Rs 28.85, Uttam Sugar fell by Rs 8.90 to Rs 321.95, Bannari Aman fell by Rs 53.10 to Rs 2320.
Oil marketing stocks fall: HPCL, IOC, BPCL, Reliance fall
Today, the BSE oil-gas index fell 507.77 points to close at 26,442.70 due to heavy fund selling in oil-marketing PSU shares. BPCL fell by Rs 24.45 to Rs 557.80, IOC fell by Rs 5.55 to Rs 155.25, HPCL fell by Rs 15.40 to Rs 445.60, Reliance Industries fell by Rs 27.60 to Rs 2850.75, ONGC fell by Rs. Increase of Rs 2.50 to Rs 258.85.
BSE Midcap index down 520 points, Smallcap index down 436 points: Selling in many stocks
A fresh round of selling has begun in many small, mid-cap, cash stocks, with widespread hammering today taking a toll on market breadth. The BSE Small Cap index fell 436.39 points to 41545.77 and the BSE Mid Cap index fell 20.99 points to 37743.27. Out of the total 3928 shares traded on BSE, the number of decliners was 2633 and the number of gainers was 1188.
FPI/FII made net purchase of shares worth Rs 1451 crore: DII made net purchase of Rs 7450 crore.
Amid block deals today, foreign portfolio investors-FPIs, FIIs made net purchase of shares worth Rs 1421.48 crore in cash today-Tuesday. There were sales of Rs 15,417.65 crore against total purchases of Rs 16,839.13 crore. While DII-Domestic Institutional Investors made net purchases of shares worth Rs 7449.48 crore in cash today. There were total sales of Rs 9437.26 crore against total purchases of Rs 16,886.74 crore.
Japan's Nikkei index rose 263 points: Dow, Nasdaq fell before the US Fed meeting decision.
After the initial softness in global markets, the Bank of Japan has changed interest rates from negative to positive after 17 years. Global markets also remained cautious on expectations of higher interest rates on inflation ahead of today's Federal Reserve meeting. Hong Kong's Hang Seng index fell 207 points to 16529. Minor fluctuations were seen in the markets of European countries. In futures trading in the American stock markets, Dow Jones saw a fall of 47 points and Nasdaq fell by 123 points.