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Mumbai: China has taken all possible measures to revive its economy, after cutting short-term interest rates yesterday, it announced a stimulus package today, including reduction in outstanding mortgage rates and reduction in down payment for second homes, with global funds expected to pour in heavily. Indian markets surged today after hitting new record highs on record highs. Funds today rallied select auto, oil-gas, capital goods, power stocks, while metal-mining stocks rose on hopes that China's stimulus package and infrastructure sector push will boost demand, including steel. Intra-day Sensex crossed the 85000 mark with a gain of 234.62 points to hit a new high of 85163.23, while selling in FMCG, banking stocks ended the recovery and closed 14.57 points lower at 84914.04. While the Nifty 50 spot rose intra-day 72.50 points to hit a new record high of 25940.40 and finally closed 1.35 points higher at 25940.40.
Metal index jumps 896 points on China's stimulus; NALCO, Tata Steel, Hindalco gain
Funds aggressively bought metal-mining stocks in anticipation of increased Chinese demand, including steel, after China announced stimulus package and use of steel in domestic infrastructure projects. BSE Metal index closed 895.92 points higher at 33074.84. Tata Steel rose Rs 6.60 to Rs 160.55, Hindalco rose Rs 27.50 to Rs 717.95, NMDC rose Rs 8.40 to Rs 223.95, Vedanta rose Rs 17.20 to Rs 470, APL Apollo rose Rs 48.80 to Rs 1475.35, SAIL rose Rs 4.15 to Rs 133.85, Jindal Stainless rose Rs 15.40 to Rs 786.50, Jindal Steel rose Rs 55 to Rs 1041.05.
Apollo Tyres up by Rs 9 to Rs 529, Bajaj Auto up by Rs 113 to Rs 12,456, Bosch, Mahindra costlier
Selective buying continued in automobile company shares today. Apollo Tyres rose by Rs 8.85 to Rs 528.90, Sundaram rose by Rs 14.40 to Rs 1402.65, Bajaj Auto rose by Rs 113.30 to Rs 12,456.60, Bosch rose by Rs 307.90, Mahindra & Mahindra rose by Rs 36,757.23.85 to Rs 3073.25, TVS Motor rose by Rs 17.25 to Rs 2862.35, Tata Motors rose by Rs 5.40 to Rs 977.10, Maruti Suzuki rose by Rs 56.20 to Rs 12,738.40, BSE Auto index rose by Rs 237.87 to close at 60755.56.
Power stocks continue to rally, BHEL, Tata Power, Power Grid Corp, Siemens, Adani NG gain
Power-capital was continuously buying funds in the shares of goods companies. BHEL rose by Rs 8.15 to Rs 282.30, Tata Power rose by Rs 13.35 to Rs 467.70, Power Grid Corp rose by Rs 9.05 to Rs 350.10, Siemens rose by Rs 154.70 to Rs 7094.95, Adani NG rose by Rs 22.70 to Rs 1049.50, Adani Green rose by Rs 37.10 to Rs 2069.25, ABB India rose by Rs 142.75 to Rs 8079.
FMCG stocks lose money, Hindustan Unilever drops Rs 78 to Rs 2,950, VST, Vadilal fall
Funds made heavy profit booking in FMCG stocks today. Hindustan Unilever fell Rs 77.60 to Rs 2950.20, VST fell Rs 25.65 to Rs 391.40, BCL Industries fell Rs 3.63 to Rs 61.21, Vadilal Industries fell Rs 128.60 to Rs 3963, Bector Foods fell Rs 66.20 to Rs 1925, Avadh Sugar fell Rs 11.75 to Rs 766.35.
Black Box rises Rs 21 to Rs 545, Intel Design, Tech Mahindra, Sasken, Oracle rise
IT – Software Services, Technology stocks were the favorite highlights of the fund today. Black Box rose Rs 21.45 to Rs 545, Intellect Design rose Rs 24.25 to Rs 1000.50, Tech Mahindra rose Rs 30.20 to Rs 1638, Oracle Finserv rose Rs 201.05 to Rs 11,637.40. Datamatics Global rose Rs 10.50 to Rs 638.70, HCL Technology rose Rs 26.05 to Rs 1778.25, Mastek rose Rs 31.35 to Rs 2667.35, Wipro rose Rs 60 to Rs 539.15.
FPIs/FIIs net selling Rs. 2784 crores, DIIs net buying Rs. 3868 crores
Foreign Portfolio Investors-FPIs, FIIs sold shares worth Rs 2784.14 crore in cash today. A total of Rs 22,895.51 crore was sold against a total purchase of Rs 20,111.37 crore. While DII-Domestic Institutional Investors made a net purchase of Rs 3868.31 crore in cash today. A total of Rs 12,071.20 crore was sold against a total purchase of Rs 15,939.51 crore.
Market sentiment remained negative as massive profit booking was witnessed in small, mid cap stocks, stocks at Rs 2,045 closed in the negative
In small, mid cap stocks, the market breadth turned negative today as massive profit booking kicked in in many stocks. Out of total 4076 stocks traded on BSE today, number of advancing stocks declined from 2382 to 1932 and number of declining stocks increased from 1731 to 2045.
Investors' wealth in stock-market cap. Slight increase to new peak of Rs 476.07 lakh crore
Today, Sensex and Nifty surged due to profit booking after continuous record gains. Investors' wealth, i.e., the total market capitalization of BSE-listed companies, rose by Rs 4,000 crore in a single day to a new historic high of Rs 476.07 lakh crore.