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Mumbai: Amid threat of slowdown looming over global economy, weak job growth data amid recession in the US and reports of China entering a dangerous phase of deflation, Indian stock markets bounced back from lower levels today as local funds bought FMCG, banking stocks, in contrast to caution in foreign markets and global markets. After digesting intra-day declines, the market entered the positive zone based on Sensex, Nifty. Sensex initially fell 288.88 points to hit a low of 80,895.05, led by losses in FMCG as well as banking, consumer durables stocks, and finally closed 375.61 points higher at 81559.54. The Nifty 50 spot also fell 99 points to hit a low of 24753.15 before recovering to 24957.50 and finally closing 84.25 points higher at 24936.40. However, there was a big sell-off in small, midcap stocks today.
FMCG stocks rise: ICICI Bank rises Rs 29 to Rs 1238: Kotak Bank, IndusInd rise
In banking-finance stocks, the BSE Bankex index closed 657.94 points higher at 57950.57 as funds were trading lower today. ICICI Bank rose by Rs 29.40 to Rs 1237.85, Kotak Mahindra Bank rose by Rs 28.10 to Rs 1792, Indusind Bank rose by Rs 19.75 to Rs 1428, Axis Bank rose by Rs 11.50 to Rs 1170.65, Federal Bank rose by Rs 1.60 to Rs 184.90, HDFC Bank rose by Rs 10.50 to Rs 1647.50. Along with this, financial services and other banking stocks also remained attractive. Rane Holdings rose Rs 129.20 to Rs 2453.55, PNB Housing Finance rose Rs 53.35 to Rs 1078.90, General Insurance rose Rs 19.90 to Rs 403.65, One97 Paytm rose Rs 25.20 to Rs 628, Monarch Networth rose Rs 30.85 to Rs 906.65, New India Assurance rose Rs 7 to Rs 257.05, Religare Enterprises rose Rs 7.20 to Rs 284.05, Karnataka Bank rose Rs 5.25 to Rs 224.50, Shriram Finance rose Rs 76.65 to Rs 3316, JSW Holdings rose Rs 154.55 to Rs 7633.60, PB Fintech rose Rs 27.70 to Rs 1743.15.
Funds bullish on FMCG stocks: Kaveri, Sukhjit Starch, Hindustan Unilever, ITC gain
FMCG stocks have been garnering funds since the beginning of the day. Kaveri Seed rose by Rs 53.20 to Rs 1167, Avanti Feeds rose by Rs 27.60 to Rs 692.55, Sukhjit Starch rose by Rs 22.35 to Rs 567.25, Godrej Consumer rose by Rs 53.70 to Rs 1498.65, Uttam Sugar rose by Rs 11.30 to Rs 345.10, Hindustan Unilever rose by Rs 83.65 to Rs 2922.10, Dabur India rose by Rs 17.35 to Rs 661.95, Varun Beverages rose by Rs 32.80 to Rs 1525.85, ITC rose by Rs 15.85 to Rs 9.85, Britannia rose by Rs 85 to Rs 5931, Tata Consumer rose by Rs 13.85 to Rs 1188.15. The BSE FMCG index closed at 23477.95, up 380.32 points.
Profit booking in oil and gas stocks: Petronet, ONGC, HPCL, BPCL fall
Funds booked profits in oil & gas stocks today. Petronet LNG fell Rs 11.40 to Rs 342.65, ONGC fell Rs 9.95 to Rs 298.95, HPCL fell Rs 12.35 to Rs 422, GAIL India fell Rs 5.15 to Rs 217, BPCL fell Rs 4.55 to Rs 347.70, Reliance Industries fell Rs 3.80 to Rs 2926.05, IOC fell Rs 1.35 to Rs 175.30. BSE Oil & Gas index closed 515.64 points lower at 31190.16.
Funds ease trade on rally in capital goods stocks: Sona BLW, V-Guard, Kalpataru Power fall
Funds also capped bullish trade in capital goods stocks. Sona BLW fell Rs 18.80 to Rs 699.75, V-Guard fell Rs 12.05 to Rs 454, Kalpataru Power fell Rs 34.90 to Rs 1366.45, Praj Industries fell Rs 14.30 to Rs 720.95, Finolex Cables fell Rs 22.55 to Rs 1391.75, Carborundum Universal fell Rs 22.90 to Rs 1489.05, Grindwell fell Rs 36.85 to Rs 2418, Rail Vikas fell Rs 7 to Rs 562.25 and BSE fell Rs 28.40 to Rs 6583.65. While Honeywell Automation rose Rs 645.75 to Rs 49,676.70, ABB India rose Rs 81.75 to Rs 7599.95, LG Equipment rose Rs 4.05 to Rs 712. BSE Capital Goods index closed 345.96 points down at 70797.44.
Quick Hill drops Rs 40 to Rs 701: Birlasoft, Sonata, Nelco, Tata Techno, Tech Mahindra, Coforge fall
Selling by funds in IT – Software Services, Technology stocks continued today. Quick Hill Technology fell Rs 40.25 to Rs 701.10, Birlasoft fell Rs 28.35 to Rs 624.85, Sonata fell Rs 29.45 to Rs 660.30, Nelco fell Rs 48.90 to Rs 1187.35, Tata Technology fell Rs 35.20 to Rs 1077.30, R Systems fell Rs 14.80 to Rs 483.80, Tech Mahindra fell Rs 1579.95, Axiscades fell Rs 14.40 to Rs 555.15, Coforge fell Rs 160.35 to Rs 6465.15. While 63 Moons Technology continued to find attraction, hitting the upper circuit, up by Rs 20.55 to Rs 432.20, Tata Elxsi rose by Rs 254.85 to Rs 7843.50, D-Link India rose by Rs 12.60 to Rs 660, Proteus Agerv IT rose by Rs 36.25 to Rs 2063.65, Oracle Finserv rose by Rs 127.15 to Rs 10,974.85.
Small cap index fell 364 points: Selling in mid cap, cash stocks: 2390 stocks closed negative
Today the market breadth remained negative with widespread profit booking in small, mid cap, cash stocks. Out of total 4181 stocks traded on BSE, number of losers were 2390 and number of gainers were 1650.
Consumer index rose by Rs 468: Blue Star rose by Rs 67, Dixon Technology rose by Rs 338, Voltas rose by Rs 36
Stocks of consumer durables companies remained the favourites of the fund. Blue Star rose by Rs 66.90 to Rs 1790.40, Dixon Technology rose by Rs 338.65 to Rs 12,400, Voltas rose by Rs 36.45 to Rs 1818.40, Havells India rose by Rs 18.20 to Rs 1891. The BSE Consumer Durables index rose by 468.70 points to close at 64342.38.
DIIs made net purchases of Rs 1176 crore: FPIs/FIIs made net purchases of shares worth Rs 1757 crore.
Foreign Portfolio Investors – FPIs, FIIs made net purchases of shares worth Rs 1176.55 crore in cash today on Monday. There was a net sale of Rs 13,502.69 crore against a total purchase of Rs 14,679.24 crore. While DIIs-Domestic Institutional Investors made net purchases of Rs 1757.02 crore in cash today. There was a net sale of Rs 10,415.76 crore against a total purchase of Rs 12,172.78 crore.