look news india
Mumbai: As the end of March trend in futures and options (F&O) and the end of FY 2023-24 is near and is 28th March, March is the last day to be in the cash segment of stock markets, funds, players, high net worth investors. Today, many stocks took a cautious stance with profit booking and started changing their portfolio. Index frontline stocks Reliance Industries, HDFC Bank witnessed fund selling amid weak outlook in IT stocks and concerns of layoffs by global technology giants. Among select finance and banking stocks, attraction in Bajaj Finance, Axis Bank, Bajaj Finserv, IndusInd Bank and buying in Larsen & Toubro, NTPC, Nestle India, HCL Technology prevented major losses in the market. In the end, Sensex fell 361.64 points to close at 72470.30 and Nifty fell 92.05 points to close at 22004.70.
Among IT stocks, Imudra, 3i Infotech, Zegal Prepaid, Cressanda, Saskan, Genesis fell.
In IT-software services, technology stocks continued to fall as global IT giant Accenture last week cut its revenue estimate amid continued caution. Wipro fell by Rs 7.30 to Rs 479.75, Infosys fell by Rs 16.40 to Rs 1492.45, TCS fell by Rs 36 to Rs 3877.10, Imudra fell by Rs 82.10 to Rs 739.10, 3i Infotech fell by Rs 3 to Rs 3877.10. Declined by Rs 2.73 to Rs 39.20, Zegal Prepaid fell Rs 16.10 to Rs 277.70, Crescenda fell Rs 14.42, Sasken Technology fell Rs 60.85 to Rs 1487, Genesis International fell Rs 20.20 to Rs 542.25, Axiscades Technology fell Rs 14.30 to Rs 546.65, Onward Technology 1 Falling by Rs 4.30 Came to Rs 437.10. While Oracle Finserv rose by Rs 390.80 to Rs 8764.95, KPIT Technology rose by Rs 41 to Rs 1427.60, OrionPro rose by Rs 94 to Rs 2074.95, BirlaSoft rose by Rs 15.10 to Rs 745.80. BSE IT index closed at 35620.29, down 204.44 points.
Selling of funds, investors in many shares: Market situation is very bad: 2603 shares closed negative.
The market condition was extremely poor with many small-, mid-cap, cash stocks recording losses during the year and widespread selling with portfolio reshuffle. Out of total 4090 stocks traded on BSE, the number of declining stocks was 2603 and the number of gaining stocks was 1369.
Capital goods stocks rise: Larsen up by Rs 50 at Rs 3669: Finolex cable, Thermax, rail growth up.
Funds were making selective purchases in capital goods stocks today. Finolex Cables rose by Rs 86.75 to Rs 976.35, Thermax rose by Rs 169.45 to Rs 4068.20, Rail Vikas rose by Rs 10.70 to Rs 260.50, Hindustan Aeronautics rose by Rs 130 to Rs 3003.50. Siemens rose by Rs 110.75 to Rs 5101.05, Polycab rose by Rs 104.90 to Rs 5015.45, Larsen & Toubro rose by Rs 49.80 to Rs 3669.85, CG Power rose by Rs 6.30 to Rs 542.10. BSE Capital Goods Index closed 698.57 points higher at 59424.92.
Among banking-finance stocks, Bajaj Finance, Indian Bank, Poonawala Fin, Axis Bank gained.
Funds bought heavily in banking-finance stocks today. Axis Bank increased by Rs 8.40 to Rs 1042.40, IndusInd Bank increased by Rs 10 to Rs 1519, Indian Bank increased by Rs 22.35 to Rs 511, PTC India increased by Rs 1.84 to Rs 38.70, Poonawala Fin increased by Rs 14.60 to Rs 477.90, Angel One increased by Rs 65 to Rs 2727.60, Bajaj Finance Bank of Baroda increased by Rs 147.25 to Rs 6910.35, CRISIL increased by Rs 100.35 to Rs 5104.65, Bank of Baroda increased by Rs 1.25 to Rs 261.10. While Kotak Mahindra Bank fell by Rs 19.75 to Rs 1754.95, HDFC Bank fell by Rs 16.05 to Rs 1426.90, State Bank of India fell by Rs 6.35 to Rs 77.71, AU Small Bank fell by Rs 1.90. to Rs 562.45. BSE Bankex index fell 268.23 points to close at 52837.53.
Reliance Industries falls Rs 26 to Rs 2884: Power Grid Corp, Bharti Airtel, UltraTech Cement fall
Among the leading frontline stocks, Power Grid Corporation fell by Rs 5.70 to close at Rs 270, Bharti Airtel fell by Rs 24.65 to close at Rs 1211.15, UltraTech Cement fell by Rs 106.55 to close at Rs 9580, Asian Paints fell by Rs 28.80. Rs 2813.45, Maruti Suzuki fell by Rs 80.25 to Rs 12,255.95, State Bank of India fell by Rs 6.35 to Rs 740.05.
Another big fall in SME stocks: BSE SME index falls 1011 points
BSE SME IPO index fell 1010.82 points or 1.88 per cent to close at 52,899.66 today as small cap stocks again declined and SME stocks also declined today. Of the total 272 stocks traded on the BSE SME platform today, 136 stocks closed negative. While the prices of 52 shares were positive.
FPI/FII made net purchase of shares worth Rs 10 crore: DII made net purchase of Rs 5024 crore.
Foreign portfolio investors – FPIs, FIIs made net purchases of shares worth Rs 10.13 crore in cash today-Tuesday. There were sales of Rs 22,703.98 crore against total purchases of Rs 22,714.11 crore. While DII-Domestic Institutional Investors made net purchases of shares worth Rs 5024.36 crore in cash today. There were total sales of Rs 9105.95 crore against total purchases of Rs 14,130.31 crore.