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Mumbai: Along with global markets, Indian stock markets took a U-turn today as there were reports that Donald Trump is getting huge support against Kamala Harris in the US presidential election. Among stocks, Sensex initially fell 485.54 points to close at 78,296.70 points led by losses in FMCG, IT, capital goods stocks due to persistent selling pressure by foreign funds. Metal funds declined on news of anti-dumping duty on steel and steel prices rose on November 7. Metal-mining stocks and the MSCI index are expected to see inflows of $1.9 billion. Among banking stocks, HDFC Bank, Axis Bank, HDFC Bank, besides Sensex digested the fall and touched 79523.13 and finally closed at 79476.63, up 694.39 points. While the Nifty 50 spot index initially fell by 152.60 points to hit a low of 23842.75, after digesting the fall it went up to 24229.05 and finally closed at 24213.30 with a gain of 217.95 points.
MSCI index changes: HDFC Bank up Rs 44 on estimated inflows of $1.9 billion
Today, heavy buying by funds was seen in banking shares. The stock closed Rs 43.90 higher at Rs 1,757.95 on November 7 due to heavy buying in HDFC Bank due to changes in the MSCI index, which will result in investment inflows of $1.9 billion. Axis Bank rose by Rs 31.10 to Rs 1171.15, IndusInd Bank rose by Rs 26.45 to Rs 1090, State Bank of India rose by Rs 19.35 to Rs 849.20, Bank of Baroda rose by Rs 5.05 to Rs 849.20. 257.80, Canara Bank increased by Rs 1.65 to Rs 103.60, Kotak Mahindra Bank increased by Rs 27.50 to Rs 1756, ICICI Bank increased by Rs 19.50 to Rs 1295.90. BSE Bankex index closed at 59521.43, up 1218.58 points.
Metal stocks rise on price hike report of steel companies: JSW Steel, Tata Steel rise
Buying in metal-mining stocks was driven by price hikes by steel companies and Donald Trump's possible election victory in the US as well as reports of anti-dumping duties. JSW Steel price increased by Rs 45.10 to Rs 999.95, SAIL price increased by Rs 4.65 to Rs 118.55, Tata Steel price increased by Rs 5.35 to Rs 152.30, NMDC price increased by Rs 8.15 to Rs 234.70, Hindalco price increased by Rs 8.15 to Rs 234.70.22.75 Rupee rose by Rs 697.55, Jindal Steel rose by Rs 25.90 to Rs 935.20, Vedanta rose by Rs 11.05 to Rs 469.75, Coal India rose by Rs 65 to Rs 435.30. BSE Metal Index closed 737.50 points higher at 31703.38.
IT Stocks Control Print, Onward, Zegel Prepaid, Sonata Decline: Ramco Systems, Black Box Gain
Today there was overall profit booking in IT-software services and technology stocks. Control Print fell by Rs 21.25 to Rs 707.25, Onward Technology fell by Rs 6.80 to Rs 338.35, Jeagle Prepaid fell by Rs 7.85 to Rs 414.70, Sonata Software fell by Rs 11.20 to Rs 600.10, Zensar Technology fell by Rs 3.10.30 to Rs 701.50, Capit Techno fell by Rs 15.70 to Rs 1. Rs 388.50 But he came. While Ramco Systems rose by Rs 41.35 to Rs 430.15, Infobins Techno rose by Rs 26.15 to Rs 443.15, Black Box rose by Rs 24.30 to Rs 526.40, Genesis International rose by Rs 32.55 to Rs 799.70. Nelco rose by Rs 23.90 to Rs 920, Sascan Technology rose by Rs 52.60 to Rs 1790.15, D-Link India rose by Rs 13.80 to Rs 566.75.
Oil India rises by Rs 23 to Rs 495 ahead of results: Strength in Indraprastha Gas, HPCL, Adani Gas
International crude oil prices remained strong, with Brent crude trading near $75.41 and New York-Nymex crude trading near $71.79, as select funds made purchases on the attractiveness of oil companies' results. Ahead of the release of Oil India's quarterly results, shares rose by Rs 23 to Rs 495.45. Indraprastha Gas increased by Rs 7.60 to Rs 420.35, HPCL increased by Rs 6.50 to Rs 375, Adani Total Gas increased by Rs 10.10 to Rs 721.50, BPCL increased by Rs 4.20 to Rs 307.
Recovery in auto stocks: Bajaj Auto up by Rs 295 to Rs 9821: TVS Motor, Eicher, Maruti rise
Automobile stocks improved as funds bought less today. The price of Bajaj Auto increased by Rs 295.85 to Rs 9821, the price of TVS Motor increased by Rs 48.05 to Rs 2460.10, the price of Eicher Motors increased by Rs 77.75 to Rs 4909.95, the price of Maruti Suzuki increased by Rs 163.95 to Rs 11,217.95, Tata Motors increased by Rs 11. 35 It rose by Rs 835.45, Bosch rose by Rs 282.90 to Rs 35,579.95, Hero MotoCorp rose by Rs 12.15 to Rs 4818.40, Mahindra & Mahindra rose by Rs 7.35 to Rs 2890.60. BSE Auto Index closed 432.35 points higher at 54066.47.
Among FMCG stocks, LT Foods, Dodla Dairy, Kaveri Seed, LT Foods, Jyoti Labs were in the red.
Equity funds controlled the bullish trading in shares of FMCG companies today. LT Foods fell by Rs 17.80 to Rs 381.50, Jyoti Labs fell by Rs 17.10 to Rs 491.15, VST fell by Rs 7.60 to Rs 335, Dodla Dairy fell by Rs 17.90 to Rs 1170.15. Kaveri Seeds fell by Rs 13.05 to Rs 925.40, ITC fell by Rs 4.65 to Rs 480.05. While Tilaknagar Industries rose by Rs 47.30 to Rs 338.65, Chamanlal Shetia rose by Rs 47.20 to Rs 356.85, Hatson Agro rose by Rs 87.30 to Rs 1150, Som Distilleries rose by Rs 4.35 to Rs 105.60. Triveni Engineering rose by Rs 14.20 to Rs 417.70, Adani Wilmar rose by Rs 10.95 to Rs 342.25.
Small, midcap players decline, fund selection picks up: 2468 stocks closed positive
Sensex, Nifty based markets took a U-turn today and market breadth turned from negative to positive in small cap stocks today as players, funds reduced preferred valuations. Of the total 4058 stocks traded on BSE, the number of gainers was 2468 and the number of decliners was 1478.
Net sales by FPIs/FIIs Rs.2569 crore in cash: Net purchases by DIIs Rs.3031 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 2,569.41 crore in cash today on Tuesday. There were sales of Rs 14,420.88 crore against total purchases of Rs 11,851.47 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 3030.96 crore in cash today. There were sales of Rs 9585.76 crore against total purchases of Rs 12,616.72 crore.
Investors' wealth in stock-market cap. Rs 2.77 lakh crore increased to Rs 444.88 lakh crore
Today, with the recovery in shares, investors' wealth i.e. total market capitalization of BSE listed companies also increased by Rs 2.77 lakh crore in a day to Rs 444.88 lakh crore.