look news india
Mumbai: With positive factors of strength in global markets with better progress of monsoon and corporate results, US. Ahead of overnight interest rate decision by the Federal Reserve, Indian stock markets hit record highs today. The upward trend continued as domestic institutional investors, local funds, high net worth investors were attracted by continuous buying against continuous selling by foreign portfolio investors (FPIs). Buying by funds in healthcare-pharmaceuticals, metal-mining, automobile, banking frontline stocks pushed Sensex, Nifty to fresh closing highs. Sensex touched an intra-day high of 81828.04 and finally closed at a new record high of 81741.34, up 285.94 points. While Nifty 50 spot went up to 24984.60 and finally closed at a new historical high of 24951.15, up 93.85 points.
Attraction in metal-mining stocks
Funds were buying heavily in metal-mining stocks today. Funds today traded in JSW Steel up Rs 32.80 to Rs 934.90, SAIL up Rs 4.75 to Rs 152.90, Jindal Steel at Rs 988.95, APL Apollo up Rs 14.70 to Rs 1487.25, Vedanta up Rs 4.05 to Rs 451, Tata Steel up Rs 1.30 to Rs 165.35, Coal India up Rs 3.20 to Rs 522.15. BSE Metal index closed up 362.71 points at 32771.06.
Progress in AutoShare
Funds increased buying in frontline stocks of automobile companies today. Maruti Suzuki quarterly net profit rose 47 per cent to Rs 3,650 crore, the stock rose Rs 293.45 to Rs 13,167.95, Balkrishna Industries rose Rs 65.05 to Rs 3326, TVS Motor rose Rs 46.55 to Rs .2542.50, MRF rose Rs 2149.35 to Rs 1,42,011, Ashok Leyland rose Rs 3.50 to Rs 257.10, Bajaj Auto rose Rs 94.60 to Rs 9663.35, Hero Motocorp rose Rs 46.55 to Rs 5493.45, Cummins India rose Rs 44.55 to Rs 3852.65, Eicher Motors rose Rs 19.40 to Rs 4968.55. The BSE Auto index closed at 60185.44, up 275.66 points.
Healthcare index rose 364 points
The BSE Healthcare index closed 364.23 points higher at 40519.01 as funds made selective aggressive buying in healthcare-pharmaceuticals companies today. Dishman Carbogen rose by Rs 33.70 to Rs 202.35, Granules India rose by Rs 42.55 to Rs 630.35, Ajanta Pharma rose by Rs 167.25 to Rs 2690, SMS Pharma rose by Rs 17.20 to Rs 304.60, Thyrocare Techno rose by Rs 43.90 to Rs 819.95, Jubilant Pharm rose by Rs 39.55 to Rs 774.05, Unichem Lab rose by Rs 28.40 to Rs 567.55, Suven Pharma rose by Rs 49.50 to Rs 997.25, Wockhardt rose by Rs 43.50 to Rs 997.25, Gland rose by Rs 44.90 to Rs 924.90, Gland rose by Rs 66.30 to Rs 2125.80.
Attraction in power stocks
Several stocks continued to rise as funds continued to place importance on power stocks. NTPC rose Rs 9.15 to Rs 416.05, Tata Power rose Rs 9.60 to Rs 453.65, JSW NG rose Rs 12.65 to Rs 727.90, Suzlon NG rose Rs 1.10 to Rs 69.35, Siemens rose Rs 91.95 to Rs 7110, Adani NG rose Rs 12.20 to Rs 1137.60. Among capital goods stocks, Kalpataru Power rose Rs 48.15 to Rs 1373.65, Polycab rose Rs 183.75 to Rs 6860.15, Schaeffler rose Rs 58.95 to Rs 4266.85, Timken rose Rs 55. 30 increased by Rs. 4269.50, Honeywell Automation increased by Rs. 586.50 to Rs. 54505.95, Larson increased by Rs. 27.45 to Rs. 3812.55.
Investors' wealth increased
With Sensex, Nifty hitting record highs, and many midcap stocks gaining, investor wealth, i.e. the total market capitalisation of BSE-listed companies, rose by Rs 1.47 lakh crore to a new record high of Rs 462.38 lakh crore today. Thus, investor wealth has increased by Rs 23.13 lakh crore in July 2024.
3462 crores sold by FIIs
Foreign Portfolio Investors – FPIs, FIIs net sold shares worth Rs 3462.36 crore in cash today on Wednesday. Total sales of Rs 23,511.20 crore were made against purchase of Rs 20,048.84 crore. While DII-Domestic Institutional Investors net bought shares worth Rs 3366.51 crore in cash today. Total sales of Rs 13,226.05 crore were made against purchase of Rs 16,592.56 crore.
Profit booking in smallcap stocks
Market breadth remained marginally positive today as funds, players jumped into many stocks and booked profits in small cap stocks, while buying continued in mid cap, A group stocks, due to attraction. Out of total 4037 stocks traded on BSE, number of gainers were 2051 and number of losers was 1897.
