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Mumbai: Foreign portfolio investors (FPIs) in Indian stock markets stopped buying stocks and started selling again and today Reliance and banking stocks were hit by funds, State Bank of India, ICICI Bank along with HCL Technology gained, Sensex up 1017 points and Nifty 50 spot index up 293 points. Funds also sold stocks in global markets as well as in other markets as fears of sluggish growth grew ahead of US employment data. Sensex lost the 81,000 mark to hit a low of 1219.23 points as funds hit frontline-heavyweight stocks, capital goods-power, auto, IT stocks including NTPC, Tata Motors, ITC, Larsen & Toubro, Mahindra & Mahindra. After hitting 80981.93 at one point, it closed down 1017.23 points at 81183.93. While the Nifty 50 spot index at one point fell 343.80 points to hit a low of 24801.30, it recovered by 292.95 points to close at 24852.15. Small, mid-cap stocks also witnessed cautious gains over the weekend, with the index-led declines subsiding in panic-driven bullish trade.
bankex 1127 broke
In banking-finance stocks today, funds were the worst hit by what they called 'bells and whistles'. Canara Bank fell Rs 4.80 to Rs 103.40, State Bank of India fell Rs 36 to Rs 782.60, Federal Bank fell Rs 6.40 to Rs 183.30, Bank of Baroda fell Rs 7.95 to Rs 1159.15, ICICI Bank fell Rs 25.85 to Rs 1210.05, Kotak Mahindra Bank fell Rs 14.15 to Rs 1763.90, HDFC Bank fell Rs 8.25 to Rs 1637, HDFC Bank fell Rs 8.25 to Rs 1637. BSE Bankex index fell 1127.43 points to close at 57292.63.
Capital goods index fell
Capital goods-power stocks witnessed broad divergence today as funds started reducing overbought positions in a big way. Bharat Electronics fell Rs 6.95 to Rs 283.65, Teamcan fell Rs 87.25 to Rs 3715.15, Larsen & Toubro fell Rs 49.15 to Rs 3574.15, Honeywell Automation fell Rs 511.25 to Rs 49,059.60, AIA Engineering fell Rs 27.30 to Rs 4332.30. BSE Capital Goods index closed 1232.11 points lower at 71143.40.
Auto shares fell
Funds, experts have started consolidating the bullish trade, automobile stocks saw a big selloff today. Tata Motors fell Rs 20 to Rs 1048.65, Mahindra & Mahindra Rs 2697.05, Maruti Suzuki Rs 114.05 to Rs 12,184.10, MRF fell Rs 1195.80 to Rs 1.34, 748.75. BSE Auto index closed 757.88 points down at 57659.01.
Reliance fell by 57 rupees
Funds booked huge profits in oil & gas stocks today. The market ignored the positive factor of one share bonus per share by Reliance Industries which fell Rs 57.30 to Rs 2,929.85 due to huge profit booking today. Oil India fell Rs 27.85 to Rs 627.10, Petronet LNG fell Rs 12.85 to Rs 354.30, HPCL fell Rs 13.90 to Rs 434.35, BPCL fell Rs 8.45 to Rs 352.25. The BSE Oil & Gas index closed 709.93 points down at 31705.80.
Gap in IT stocks
There was widespread profit booking in IT – Software Services, Technology stocks today. HCL Technology fell Rs 34.85 to Rs 1755.50, Tata Elxsi fell Rs 134.45 to Rs 7588.65, Infosys fell Rs 30.80 to Rs 1902.20. While 63 Moons Technology rose Rs 19.80 to Rs 416.55, Tata Technology rose Rs 37.40 to Rs 1112.50, Sonata rose Rs 15.25 to Rs 689.75.
2544 shares closed with a decline
The market breadth turned negative again as funds, retail investors, small, mid-cap, cash stocks sold in panic today, with Sensex, Nifty falling. Out of total 4034 stocks traded on BSE, the number of gainers fell to 1403 and the number of losers rose to 2544.
DII purchases worth Rs 2121 crore
FIIs sold shares worth Rs 620.95 crore in cash today on Friday. While DII-domestic institutional investors made net purchases of Rs 2121.53 crore in cash today.
Investors' wealth decreased
Funds, experts called for a fall in Sensex, Nifty today, due to selling in many stocks, investor wealth, i.e. the total market capitalization of companies listed on BSE, also declined by Rs 5.50 lakh crore to Rs 460.18 lakh crore.