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Mumbai: Global markets remained soft today amid market demand for a big stimulus package to rescue China's economy, industries, especially in Asia, Europe, after the Chinese government assured that taxes on foreign earnings of the super-rich will be lifted. The burden will be reduced. There is uncertainty about whether new stimulus measures will be extended. Global markets retreated with crude oil prices falling another four percent on expectations that the world would slide back into deflation and as a result OPEC also cut its global crude demand forecast. Foreign portfolio investors (FPIs) continued to sell stocks in Indian stock markets today, continuing their net selling. While local funds remained consistent buyers. The poor performance of Reliance Industries had a negative impact on the market. Funds sold metal-mining, auto stocks, while capital goods, consumer durables, realty stocks gained. Finally the Sensex closed 152.93 points down at 81820.12. While Nifty 50 spot fell by 70.60 points and closed at 25057.35.
Metal index down 522 points: Jindal falls Rs 26 to Rs 968: SAIL, Hindalco, NMDC fall
Funds also sold metal-mining stocks today amid uncertainty that stimulus measures will not be enough to save China's economy and calls for more relief. Jindal Steel fell by Rs 25.65 to Rs 968.75, SAIL fell by Rs 3.30 to Rs 130.95, Hindalco fell by Rs 15.80 to Rs 726.95, JSW Steel fell by Rs 12.10 to Rs 1000.50, APL Apollo fell by Rs 10.50 to Rs 1551. BSE Metal Index fell 522.88 points to close at 33076.67.
Selective gains in healthcare stocks: Vijaya Diagnostics, Newland Labs, FDC, Piramal Pharma gain.
Funds were also buying stocks of healthcare-pharmaceutical companies today. Vijaya Diagnostic rose by Rs 124.95 to Rs 1103, Newland Lab rose by Rs 1535.05 to Rs 15,795, FDC rose by Rs 35.15 to Rs 568.70, Piramal Pharma rose by Rs 11.60 to Rs 231.45. RPG Life rose by Rs 138.20 to Rs 2825, Aarti Pharma rose by Rs 28.55 to Rs 639.25, Poly Medicare rose by Rs 101.85 to Rs 2487.65, Fortis Health rose by Rs 21.50 to Rs 1468.50, Wockhardt rose by Rs 20 to Rs 1468.50. Novartis India rose by Rs 35.90 to Rs 1080.55, Novartis India rose by Rs 28.35 to Rs 1115.
Profit booking in auto stocks due to Hyundai IPO: Bajaj Auto falls by Rs 371 to Rs 11,521
With the opening of Hyundai Motor India's Rs 27,870 crore mega IPO, investors booked profits in other auto stocks. Bajaj Auto fell by Rs 371.35 to Rs 11,521.50, Motherson fell by Rs 3.25 to Rs 211.05, Ashok Leyland fell by Rs 3.35 to Rs 225.25, Eicher Motors fell by Rs 55.10 to Rs 917.45, Hero MotoCorp fell by Rs 47.85 to Rs 5507. Maruti Suzuki fell by Rs 91.55 to Rs 12,446.90, MRF fell by Rs 889.85 to Rs 1,31,092.60, Bosch fell by Rs 165.40 to Rs 1,31,092.60. 38,616.30. The BSE Auto index closed 403.28 points down at 59,404.94.
Attraction in realty stocks: Shobha Developers up by Rs 88 to Rs 1814: Brigade, Phoenix, Godrej rise
The attraction of funds in realty company shares was seen increasing again. Shobha Developers' value increased by Rs 88.40 to Rs 1813.85, Brigade Enterprises' value increased by Rs 41.20 to Rs 1318.55, Phoenix Mills' value increased by Rs 42.55 to Rs 1655.20, Godrej Properties increased by Rs 73.30 to Rs 3164.70, Prestige Estate The value of increased by Rs. .42.35 up at Rs 1898.50, Oberoi Realty up Rs 42.25 at Rs 2040, DLF up Rs 12.85 at Rs 875.20.
Funds among select stocks in small, mid cap, HNI attraction: 1986 shares closed positive
Sensex, Nifty witnessed subdued trading today due to caution, market breadth remained marginally positive as funds in small, mid cap stocks remained attractive to high net worth investors. Out of the total 4064 stocks traded on BSE, the number of gainers was 1986 and the number of decliners was 1983.
Attraction in capital goods stocks: Praj rises by Rs 47 to Rs 814: Carborandum, Finolex, Siemens rise
Today, funds remained the preferred buy in capital goods shares also. Praj Industries increased by Rs 46.80 to Rs 814.10, Carborendum Universal increased by Rs 44.25 to Rs 1514.50, Finolex Cables increased by Rs 35.05 to Rs 1342, Siemens increased by Rs 136 to Rs 7857, Hindustan Aeronautics increased by Rs 65.60. Tax Rs 4572.40, LG Equipment rose by Rs 6.70 to Rs 676.05. While CG Power fell by Rs 21.65 to Rs 833.15, Bharat Forge fell by Rs 11.95 to Rs 1479, Honeywell Automation fell by Rs 355.30 to Rs 49591.
Crude Brent fell by three dollars: Reliance fell to Rs 57 due to weakness: HPCL, BPCL rose.
International crude oil prices continued to fall as a result of OPEC's cut in demand estimates. This evening, Brent crude fell $3.03 to $74.43 and Nymex-New York crude fell $3.16 to $70.67. Due to five percent decline in second quarter net profit, shares of Reliance Industries fell by Rs 57.30 to Rs 2,687.90, shares of Oil India fell by Rs 26.80 to Rs 559.30, shares of Adani Total Gas fell by Rs 9.25 to Rs 745. While oil marketing companies benefited from falling crude oil prices, HPCL price increased by Rs 17.25 to Rs 423.05, BPCL price increased by Rs 9 to Rs 349.20.
Net purchase of shares by DIIs Rs 1655 crore: Sale of shares by FPI/FII worth Rs 1749 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 1748.71 crore in cash today on Tuesday. There were sales of Rs 17,846.60 crore against total purchases of Rs 16,097.89 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 1654.96 crore in cash today. There were sales of Rs 11,574.47 crore against total purchases of Rs 13,229.43 crore.
Hang Seng 774 points, China's CSI fell 105 points: European markets soft
Global markets remained subdued today amid China's uncertainty. The CSI 300 index of China's Shanghai Stock Market fell 105.35 points to 3855.99, the Hang Seng of the Hong Kong Stock Market fell 774.08 points to 20,318.79 and the Nikkei 225 index of Japan's Tokyo Stock Market rose 304.75 points to 39910.55. There was softness in the markets of European countries in the evening.