look news india
Mumbai: The period of extraordinary volatility in the market continued even today due to the Lok Sabha elections. Selling in stocks by foreign portfolio investors (FPIs) continued as uncertainty loomed again after four rounds of elections and with concerns in some quarters over the outcome, buying by local funds continued today as selling eased. As a result, Sensex showed extreme two-way volatility of 200 to 250 points at times in the beginning and eventually made a big jump behind Mahindra in the last quarter of an hour.
Sensex fell by 200 to 250 points in both directions.
Behind Maruti Suzuki, auto stocks including Tata Motors were initially moving in reverse gear and against IT stocks including Tech Mahindra, Bharti Airtel, Infosys, HCL Technologies, the market indices were bullish based on two-way fluctuations, Mahindra And Mahindra's shares remained on top last. The quarterly incentives resulted in a market rally and cut sales for companies including Maruti Suzuki, Tata Motors and others. After showing extreme two-way volatility at times in the beginning, Sensex jumped by 750 points and closed at 73663.72, up 676.69 points. While Nifty 50 spot increased by 203.30 points and closed at 22403.85. The BSE Small Cap index closed 395.63 points higher at 46939.92 and the BSE Mid Cap index closed 447.90 points higher at 42342.68.
surge in auto stocks
There was heavy selling in the shares of automobile companies in the beginning. The covering took place after the Maruti Suzuki ran in reverse gear and fell at the start. Mahindra & Mahindra reported 32 per cent rise in its quarterly net profit and the stock rose from a low of Rs 2288 to a new record high of Rs 2393 and closed at Rs 2372.85 after gaining Rs 70.30. Maruti Suzuki India initially fell by Rs 469 to hit a low of Rs 12,306 and finally fell by Rs 275.50 to hit a low of Rs 12,500.
Capital Goods Index rose 1323
Today, BSE Capital Goods Index closed 1322.86 points higher at 65777.05 as aggressive fund buying continued in capital goods stocks. Honeywell Automation's quarterly net profit rose 32 per cent to Rs 148.20 crore, the stock hit a new record of Rs 59,050 today and finally closed at Rs 55,815.90, up Rs 6,601.45. While Hindustan Aeronautics rose by Rs 419.75 to reach a new high of Rs 4603.40.
Private bank stocks rise: Collapse of PSU banks
Today there was selling in PSU bank shares as compared to buying by funds in private banking shares. HDFC Bank rose by Rs 21.30 to Rs 1460.15, Kotak Mahindra Bank rose by Rs 20.65 to Rs 1671.90, while among PSU bank shares State Bank of India fell by Rs 8.05 to Rs 811.90, Canara Bank fell by Rs 8.05 at Rs 5.30. to Rs 113.70.
FPI/FII sold shares worth Rs 776 crore
FIIs made net sales of shares worth Rs 776.49 crore in cash today Thursday, while DIIs-Domestic Institutional Investors made net purchases of shares worth Rs 2127.81 crore in cash today. There were sales of Rs 12,779.91 crore against total purchases of Rs 14,907.72 crore.
Investors' wealth increased by Rs 3.01 lakh crore
Today the wealth of investors i.e. market capitalization of companies listed in BSE increased by Rs 3.01 lakh crore to Rs 407.35 lakh crore. Today the market trend remained positive due to buying in small cap and mid cap shares. Of the total 3952 stocks traded on BSE, the number of gainers was 2040 and the number of decliners was 1798.