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Mumbai: The Supreme Court ruled that states instead of the Centre can collect royalty and taxes from mining companies from the year 2005. After initial shocks due to gaps in steel, metal-mining, cement stocks in Indian stock markets today, IT-software services, technology stocks recovered sharply in the market. Sensex, Nifty based index of funds managed by experts led the rise in IT stocks today. While on the contrary, funds continued to sell heavily in steel, metal, cement stocks and small, mid-cap stocks for the second consecutive day and sold exceptionally large shares in many stocks. In contrast to the recovery in global markets, Sensex, Nifty recovered from the decline in Indian stock markets today, but there was a selling environment in many stocks. In the fluctuations, the Sensex fluctuated between 78895 and 79229 and finally closed at 79105.88, up 149.85 points. Nifty spot fluctuated between 24099 and 24197 and closed at 24143.75, up 4.75 points.
IT index surges 564 points: Mudra gains Rs 38 to Rs 779: Cyient, TCS, Sonata rise
In IT-software services, technology stocks, funds, today again the experts made big purchases along with index management. Emudra rose by Rs 38.15 to Rs 778.70, Cent rose by Rs 65.20 to Rs 1734.85, Sonata rose by Rs 20.05 to Rs 603.25, Latent View rose by Rs 14.50 to Rs 488, TCS closed at Rs 96.65 up to Rs 4291.65, HCL Technology rose by Rs 33.30 to Rs 1625.95, KPIT Technology rose by Rs 36.15 to Rs 1784.35, L&T Technology rose by Rs 93.80 to Rs 4918.30, Infosys rose by Rs 25.85. .1822.65, Tech Mahindra rose Rs 21.25 to Rs 1523.90, Persistent rose Rs 53.35 to Rs 4765, Wipro rose Rs .4.70 to Rs 495.10. BSE IT index closed at 40450.84, up 563.70 points.
Timken fell Rs 125 to Rs 3,668. Among capital goods stocks, Suzlon, Praj, Rail Vikas, Kalpataru Power fell.
Capital goods stocks also witnessed heavy profit booking today. Suzlon NG fell Rs 4.01 to Rs 76.78, Praj Industries fell Rs 34.40 to Rs 701.50, Teamcan fell Rs 125.70 to Rs 3668.90, Rail Vikas fell Rs 15.35 to Rs 554.10, Kalpataru Power fell Rs 25.90 to Rs 1228, Schaeffler Industries fell Rs 70.70 to Rs 3933.15. While Finolex Cables rose Rs 42.65 to Rs 1479, ABB India rose Rs 207.15 to Rs 7752.75, CG Power rose Rs 12.55 to Rs 705.70, Siemens rose Rs 74.45 to Rs 7041.90. The BSE Capital Goods index closed 412.51 points down at 71539.53.
Dishman down Rs 24 to Rs 172: Divi's down Rs 197 to Rs 4661: Ajanta Pharma, Tarsons down Rs.
Today, the BSE Healthcare index closed 246.41 points down at 40784.56 due to widespread profit-booking in healthcare-pharmaceuticals companies. Dishman Carbogen fell Rs 23.75 to Rs 171.85, Tarsan Products fell Rs 32.90 to Rs 453.95, Ajanta Pharma fell Rs 130.65 to Rs 3045.45, Divi's Lab fell Rs 196.95 to Rs 4661.10, Eris Life Sciences fell Rs 166.45 to Rs 4961. down by Rs 35.40 to Rs 1162, Ipca Labs down by Rs 38 to Rs 1357.90, Biocon down by Rs 8.90 to Rs 328.10, Supriya Life down by Rs 18.40 to Rs 500.40, Solara Active down by Rs .21.90 to Rs 594.05.
Piramal Enter. down Rs 104 to Rs 881: HEG, Orient Cement, Red Tape, Sanghvi Movers fall
Big selling was also seen in the stocks of that group today. Decal fell Rs 23.75 to Rs 171.85, Piramal Enterprises fell Rs 104.35 to Rs 881.35, HEG fell Rs 158.15 to Rs 2009.25, TCI X fell Rs 74.30 to Rs 1055.90, Orient Cement fell Rs 20.35 to Rs 323.15, Landmark fell Rs 35.30 to Rs 565, Sanghvi Movers fell Rs 44.95 to Rs 813.60, Red Tape fell Rs 38.45 to Rs 648.30, BEML fell Rs 198.60 to Rs 3634.30, Thomas Cook fell Rs 10.10 to Rs 192.45.
Massive selling by funds, players in small, mid-cap stocks: 2425 stocks closed negative
Market conditions remained weak as funds, players, high net worth investors continued to sell in many small, mid cap, cash stocks today. Out of total 4036 stocks traded on BSE, number of decliners were 2425 and number of gainers were 1498. BSE Small Cap index closed 304.61 points down at 52955.23 and BSE Mid Cap index closed 190.42 points down at 46555.10.
Net Sale of Shares by FPIs/FIIs Rs.2595 crore: Net Purchase by DIIs Rs.2236 crore
Foreign Portfolio Investors – FPIs, FIIs net sold shares worth Rs 2,595.27 crore in cash today on Wednesday. Total sales of Rs 17,565.27 crore were made against purchase of Rs 14,970 crore. While DII-Domestic Institutional Investors net bought shares worth Rs 2236.21 crore in cash today. Total sales of Rs 10,033 crore were made against purchase of Rs 12,269.21 crore.
Investors' wealth in stock-market cap declined by Rs 1.01 lakh crore to Rs 444.29 lakh crore
While Sensex, Nifty held gains, widespread selling continued in fund, operator, small and midcap stocks, investor wealth, i.e., the total market capitalisation of BSE-listed companies also declined by Rs 1.01 lakh crore to Rs 444.29 lakh crore today.
