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MUMBAI: Healthcare-pharmaceuticals stocks continued to rise this week amid holiday mood as local funds, domestic institutional investors bought interest in automobile companies in the last few days of 2024. Foreign portfolio investors (FPIs) also avoided big purchases in the year-end days ahead of yesterday’s big selloff in stocks, with many investors cautiously avoiding big purchases. As a result, the index-based rally ultimately halved as FPIs continued selling today. Funds booked profits in metal-mining, oil-gas, PSU shares. In an early rally, the Sensex rose 570.67 points to 79,043.15 intra-day, but closed 226.59 points lower at 78,699.07. While the Nifty 50 spot index increased by 188.65 points intra-day to close at 23938.85 and finally closed by 63.20 points at 23813.40.
Auto index rises 446 points: Mahindra rises Rs 73 to Rs 3050: Eicher, Tata Motors gain
Shares of the automobile company were undervalued by funds for the second consecutive day. Mahindra & Mahindra rose by Rs 73.50 to Rs 3050.10, Eicher Motors rose by Rs 76.75 to Rs 4876, Balkrishna Industries rose by Rs 39.45 to Rs 2864, Tata Motors rose by Rs 9.75 to Rs 7055.55. , Sundaram Fasteners rose by Rs 9.65 to Rs 1072.85, Bajaj Auto rose by Rs 54.25 to Rs 8933.50, Maruti Suzuki rose by Rs 42.90 to Rs 10,938.20, MRF rose by Rs 212.15 to Rs 1,31,457.40. BSE Auto Index closed 446.58 points higher at 52219.55.
Attraction in healthcare stocks: Tarson up by Rs 34, Ajanta Pharma up by Rs 244, Caplin Point up by Rs 199
Shares of healthcare-pharmaceutical companies also remained the favorite buy of funds today. Tarson rose by Rs 34.05 to Rs 423.95, Ajanta Pharma rose by Rs 244.10 to Rs 3039.45, Caplin Point rose by Rs 199.40 to Rs 2596.45, Aarti Pharma rose by Rs 44.70 to Rs 676.45, Unichem rose by Rs 14.15 to Rs 382.10. Lab rose by Rs 24.05 to Rs 718.80, Glenmark rose by Rs 44.45 to Rs 1585.40, Laurus Lab rose by Rs 15.60 to Rs 586.40, Dr. Reddy’s Lab rose by Rs 34.20 to Rs 1389.35. Abbott India rose Rs 666.55 to Rs 29,300. Lupine rose by Rs 46.40 to Rs 2228, Newland Lab rose by Rs 266.60 to Rs 13,712.60. BSE Healthcare index closed 348.16 points higher at 44638.11.
Siemens fell by Rs 161, Thermax by Rs 96, Honut by Rs 930: Capital Goods Index fell 416 points.
Funds in capital goods stocks were selling profits today. BHEL fell by Rs 6.35 to Rs 235.45, Siemens fell by Rs 160.55 to Rs 6543.20, Honet fell by Rs 930.15 to Rs 41,304.45, Thermax fell by Rs 95.80 to Rs 4383.45, LG Appliances fell by Rs 100. 12.45 to Rs 573, Titagraha fell by Rs 24.10 to Rs 1148.70, Cummins India fell by Rs 63.40 to Rs 3301.25, Suzlon fell by Rs 1.09 to Rs 63.24, TeamCan fell by Rs 51.85 to Rs 3116. BSE Capital Goods Index closed 416.59 points down at 68160.15.
Selected buys in IT stocks: 63 Moons, Zegel, Newgen Down: Oracle, Vakrangi, Latent See above
Selling continued in IT-software services and technology stocks as against preferred buying in many stocks. 63 Moons Technology fell by Rs 39.45 to Rs 906.15, Jeagle Prepaid fell by Rs 23.30 to Rs 546.30, Newgen fell by Rs 62.60 to Rs 1623.65, Intellect Design fell by Rs 29.35 to Rs 1022.15, Ramco System fell by Rs 4.20 to Rs 422.30 while Vakrangi was Rs 2.99 up to Rs 33.17, Latent View up Rs 13.15 to Rs 483.25, Oracle Finserv up Rs 340.40 to Rs 12,650.05, Apple up Rs 37.05 to Rs 1792.30, Sasken up Rs 3.42.10 to Rs 2142.35, Mastech It rose by Rs 54.40 to Rs 2930, Rategain rose by Rs 12.45 to Rs 722.45, Imudra rose by Rs 15.15 to Rs 933.40.
IndusInd up by Rs 21 at Rs 953: Armaan FI, ICICI, HDFC Bank strong
Selective buying took place in banking-finance shares also. The price of IndusInd Bank increased by Rs 21.40 to Rs 953.55, the price of ICICI Bank increased by Rs 8.95 to Rs 1307.15, the price of HDFC Bank increased by Rs 6.10 to Rs 1797.85, the price of Kotak Mahindra Bank increased by Rs 5.55 to Rs 1759.50. With this, Arman Finance increased by Rs 95.90 to Rs 1278.70, Spandana Spurti increased by Rs 15.65 to Rs 325.15, Ugro Capital increased by Rs 11.75 to Rs 245, Canfin Home increased by Rs 25.60 to Rs 749.40. Home First was increasing by Rs 26.25 to Rs 1029.45.
Selling in small, midcap stocks despite reduced selective buying: 2108 shares closed negative
Small, mid-cap, cash stocks declined today despite valuations by funds and operators, market sentiment remained negative with continued selling in many stocks. Out of the total 4088 stocks traded on BSE, the number of declining stocks was 2108 and the number of gaining stocks was 1864.
Net sales by FPIs/FIIs Rs.1323 crore in cash: Net purchases by DIIs Rs.2545 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 1323.29 crore in cash today on Friday. There was a sale of Rs 6691.65 crore against the total purchase of Rs 5368.36 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 2544.64 crore in cash today. There was a sale of Rs 6892.22 crore against the total purchase of Rs 9436.86 crore.
