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Mumbai: As soon as the Trump government assumed power in America, it took many tough steps and first announced imposing 25 percent tariff on Mexico and Canada from February. Now imposing tariff on China indicates that it is a profitable deal for India. Of course, even today many players have lost their positions due to index based volatility. After many players got caught in Tuesday’s extraordinary volatility, stocks witnessed a broad decline today as funding positions with large margins in mid-cap, small-cap stocks turned sour. Overall, funds chose to remain bearish due to negative impact of weak corporate results and caution on Union Budget preparations. Of course, after big losses in IT-software services, technology stocks, positive news from US prevented big losses today as funds were taken up since the beginning.
Sensex rises after initial fluctuations: Intra-day up to 76463 and Nifty up to 23169
After opening at 76114.42, up 300 to 315 points over its previous close of 75838.36 in early narrow fluctuations, Sensex was led by Tata Group stocks Tata Motors, Tata Steel along with State Bank, Axis Bank along with Larsen, Power Grid Corp, NTPC led the way. In short selling it came to 75816.50. The top losers in IT stocks were TCS, Wipro, Infosys, Tech Mahindra, HCL Technology along with Sun Pharma, Bajaj Finserv, Bajaj Finance, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, Maruti Suzuki, Zomato, Nestle India. In one of the sharpest recoveries after the fall, Reliance’s inclusion lure absorbed the fall and closed 566.63 points higher at 76404.99 after rallying as high as 76463.13. Nifty 50 spot also opened at 23099.15 against previous close of 23024.65 and rose to a low of 22981.30 and went up to 23169.55 and finally closed at 23155.35, up 130.70 points.
Valuation of IT stocks on hopes of gains in Trump rule: Casolavas, Sasken, TCS rise
Funds valued IT stocks today on hopes that the Indian IT-software technology industry will benefit from the Trump administration’s goal of making the US a superpower in artificial intelligence (AI). Wipro rose by Rs 10.75 to Rs 309.05, Infosys rose by Rs 56.80 to Rs 1856.60, TCS rose by Rs 119.65 to Rs 4154, Tech Mahindra rose by Rs 37.40 to Rs 1677.65, HCL Technology rose by Rs 3. .25.70 to Rs 1827.40, LTI Mindtree it increased by Rs 78.95 to Rs 5835. BSE IT index closed at 42113.57, up 777.85 points.
Gap continues in capital goods stocks: Keynes falls by Rs 629 to Rs 5354: Inox Wind, Titagraha fall
The negative impact of capital goods-electricity stocks continued today with large sell-offs by persistent funds as the Trump administration began to wind down incentives for the renewable energy sector in the US. BSE Capital Goods Index fell 1169.06 points to close at 63215.31. Power India fell by Rs 700.90 to Rs 12,175.45, Titagra fell by Rs 54.05 to Rs 1000.50, Bharat Dynamics fell by Rs 62.55 to Rs 1216.50. 158.55 it fell at Rs 3740.35, Hindustan Aeronautics fell by Rs 149.95 at Rs 3901.90, RVNL fell by Rs 11.50 at Rs 408.
Gap continues in realty stocks: Lodha Developers falls by Rs 67: Godrej Properties, Oberoi, Prestige fall
Amid the fall in shares, selling of realty companies continued even today in anticipation of a big decline in property purchases in many cities of the country. BSE Realty Index fell 322.66 points to close at 6802.42. Shares of Lodha Developers fell by Rs 67.15 to Rs 1,079.90 amid reports of elder brother Abhishek Lodha filing a trademark suit in the Mumbai High Court against younger brother Abhinandan Lodha. Godrej Properties fell by Rs 122.60 to Rs 2243.40, Oberoi Realty fell by Rs 92.80 to Rs 1764, Prestige Estates fell by Rs 66.65 to Rs 1321.65, Shobha Developers fell by Rs 58.60 to Rs 1223, DLF fell by Rs 42.35 to Rs 1072.30. It was down by Rs 22.90 at Rs 714.95.
Selling in auto stocks: TI India falls by Rs 140 to Rs 3232: Tata Motors, Uno Minda fall
There was continuous selling by funds in shares of automobile companies also today. TI India fell by Rs 140.45 to Rs 3232.55, Tata Motors fell by Rs 17 to Rs 742.95, Apollo Tire fell by Rs 8.35 to Rs 439.35, Uno Minda fell by Rs 13.55 to Rs 978.25, TVS Motor fell by Rs 24.25 to Rs 2268, MRF fell by Rs 840.95. Was reduced to Rs 1,11,269.55.
Funds began to pull out: small, medium stocks abnormally diverged: 2802 stocks closed negative
Stocks continued to gap up over the past few days amid reports of investors withdrawing investments from mutual funds, with fresh gap up emerging today, forcing funds to lighten investment portfolios amid this redemption pressure. Market breadth ranged from positive to negative. Of the total 4059 stocks traded on BSE, the number of gainers was 1142 and the number of decliners was 2802.
Net sales by FPIs/FIIs Rs.4026 crore in cash: Net purchases by DIIs Rs.3640 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 4026.25 crore in cash today on Wednesday. There were sales of Rs 16,962.89 crore against total purchases of Rs 12,936.64 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 3640.22 crore in cash today. There were total sales of Rs 11,796.96 crore against total purchases of Rs 15,437.18 crore.
The asset-market capitalization of investors in shares declined from Rs 2.19 lakh crore to Rs 421.88 lakh crore.
Due to exceptionally large differences in small, mid cap, cash stocks, the cumulative wealth of investors i.e. cumulative market capitalization of BSE listed companies increased from Rs 2.19 lakh crore to Rs 421.88 lakh crore in a single day.