look news india
Mumbai: With the March trend in futures and options (F&O) funds coming to an end in the final days of FY 2023-24, majors today led an index-based aggressive rally in stocks led by Reliance Industries, Maruti Suzuki, Larsen & Toubro. Reliance led funds bought aggressively today as global broking giant Goldman Sachs raised its outlook for Reliance by fiscal 2027 to Rs 4,495 in the bullish scenario and Rs 3,400 in the base scenario. Additionally, in a bid to push up the NAV of the fund, there was large buying of large-cap stocks, leading to a wider selection of portfolio valuations. Capital goods stocks were led by Larsen & Toubro and auto stocks as well as banking stocks were led by Maruti Suzuki. Sensex closed at 72996.31 with a gain of 526.01 points and Nifty 50 closed at 22123.65 with a gain of 118.95 points.
Reliance Industries rises Rs 104 to Rs 2988 on Goldman Sachs' higher target: Adani Gas falls
The company's shares were bought aggressively today, with a buy rating by Goldman Sachs rising 54 per cent to Rs 4,495 from Rs 3,400 in the base scenario by FY2026. On the basis of this purchase, today the share price on BSE reached Rs 2999.90 and finally closed at Rs 2988.85 with a rise of 3.60 percent or Rs 103.70. With this, the market capitalization of Reliance Industries increased by Rs 70,039 crore to Rs 20,21,487 crore in a single day. Among other oil-gas stocks, Adani Total Gas fell Rs 28.50 to Rs 920.60, ONGC fell Rs 3.55 to Rs 261.85, BPCL fell Rs 4.80 to Rs 595.
Auto shares rise: Maruti up by Rs 294 at Rs 12,550: Bajaj up by Rs 208 at Rs 9171
BSE Auto index closed 316.66 points higher at 48,563.59 as funds continued aggressive buying in large cap stocks of automobile companies as well. Maruti Suzuki rose by Rs 294.05 to Rs 12,550, Bajaj Auto rose by Rs 208.40 to Rs 9171.40, Sundaram rose by Rs 23.10 to Rs 1061.25, TVS Motor rose by Rs 37.25 to Rs 2120.25, Balkrishna Industries rose by Rs 2120.25. Up by Rs 30.85 by Rs 2297, MRF rose by Rs 504.10 to Rs 1,32,066.70.
Operators sell off IT stocks: Cressanda, D-Link, Moschip, Genesis, Mastek Gbadya
IT-Software Services, Technology stocks witnessed continuous operator offloading today. Cressanda Solutions fell Rs 1.08 to Rs 13.34, D-Link India fell Rs 11.60 to Rs 276.15, 63 Moons Technology fell Rs 13.25 to Rs 381.55, Moschip Technology fell Rs 2.61 to Rs 88.83, Genesis International fell Rs 12.50 to Rs 530.45, Mastek fell Rs 57.4. 5 rupees fall Rs 2513.20, Wipro fell Rs 7.55 to Rs 472.20, TCS fell Rs 39.60 to Rs 3837.50, Infosys fell Rs 8.35 to Rs 148410, Tata Elxsi fell Rs 17.80 to Rs 7669.85.
Do small, mid-cap stocks begin to value operators at year-end? 2314 shares closed with a decline
Small, mid cap, funds in cash stocks After massive beating by players, many investors left selling to book losses, buzz among informants today was that operators, funds have driven down valuations in select small, mid cap stocks. Have started doing. Of course, market sentiment was negative as the number of shares outstanding remained high. Out of the total 3949 stocks traded on BSE, the number of decliners was 2314 and the number of gainers was 1524.
FPI/FII made net purchase of shares worth Rs 2170 crore: DII made net purchase of Rs 1198 crore.
Foreign portfolio investors-FPIs, FIIs made net purchases of shares worth Rs 2170.32 crore in cash today-Wednesday. There were sales of Rs 17,388.37 crore against total purchases of Rs 19,558.69 crore. While DII-Domestic Institutional Investors made net purchases of shares worth Rs 1197.61 crore in cash today. There were total sales of Rs 25,189.20 crore against total purchases of Rs 16,386.81 crore.
Market cap in shares.- Investors' wealth increased by Rs 1.07 lakh crore to Rs 383.64 lakh crore.
Despite the fall in many stocks today, the total market capitalization of BSE-listed companies, i.e. the total wealth of investors, increased by Rs 1.07 lakh crore in a single day to Rs 383.64 lakh crore due to the rally in heavyweight, frontline stocks. stock.