MUMBAI: As if mutual funds to flush out debt ahead of Diwali, big operators kept wide open positions in mid-cap, small-cap stocks while maintaining overall Sensex, Nifty. Due to overvaluation and continuous exit of foreign funds from Indian stock markets, huge selloff has crossed Rs 80000 crore so far in October, mutual fund investors are also getting disappointed as high net worth investors-HNIs have pulled out of mutual funds, Have started withdrawing investments from small, A big fall was seen in the shares of midcap funds today. Of course, Sensex, Nifty remained largely intact and there was massive selling in the side markets, keeping retail investors in the dark.
In ups and downs, Sensex rose 959 points intra-day, Nifty fell 298 points intra-day.
Nifty based Sensex started the day with extraordinary volatility and closed with a slight fall. The Sensex had a bullish start at the next close, rising 545.27 points to 81770.02, before falling 73.48 points to close at 8111.27 from a high of 958.79 points to a low of 80811.23. While Nifty 50 spot also initially rose by 124.25 points to reach 24978.30 compared to the next close, then fell from the peak of 298.70 points to 24679.60 and finally rose by 72.95 points to close at 24781.10. There was selling in capital goods, FMCG, IT, pharma, oil-gas, banking frontline stocks. However, there was selective buying in auto stocks.
Capital Goods Index fell by 1014 points: ABB fell by Rs 500, CG Power fell by Rs 42, Siemens fell by Rs 320.
The BSE Capital Goods index fell 1014.45 points to 70806.56 due to wide gap in capital goods stocks as funds cut bullish trade. ABB India fell by Rs 500.55 to Rs 8279.90, CG Power fell by Rs 42.05 to Rs 776.75, Polycab fell by Rs 275.35 to Rs 6842.20, V-Guard fell by Rs 11.95 to Rs 427.85, Praj Industries fell by Rs 23.80. GMR fell by Rs 0 to Rs 773.55 Airports fell by Rs 2.78 to Rs 82.95, Finolex fell by Rs 34.05 to Rs 1289.25, Grindwell Norton closed at Rs 61.40. to Rs 2385. While LMW fell by Rs 162.05 to Rs 16553, Larsen & Toubro rose by Rs 10.05 to Rs 3586.30.
Profit booking in IT stocks: Subex, Onward, Quick Hill, Mastek, Coforge, 63 Moons, Persistent broken
Big selling seen in IT-software services, technology stocks today. Subex fell by Rs 1.73 to Rs 23.96, Onward Technology fell by Rs 23.40 to Rs 367.45, Quick Hill Technology fell by Rs 1.50 to Rs 669.35, Coforge fell by Rs 1.50 to Rs 2840.75. after falling 6815.80, 63 Moons Technology fell by Rs 25.05 to Rs 472.25, Persistent fell by Rs 258.05 to Rs 5248.10, Imudra fell by Rs 36.45 to Rs 902.45, Mphasis fell by Rs 118.45 to Rs. .2977.45. BSE IT index fell 557.39 points to 41833.25.
Jindal Stainless Rs 43 to Rs 700: Selling in NMDC, APL Apollo, Hindalco, Vedanta
Funds sold metal-mining stocks due to uncertainty over China's economic recovery despite China's stimulus measures. Jindal Stainless fell by Rs 42.90 to Rs 699.90, NMDC fell by Rs 5.80 to Rs 225.65, APL Apollo fell by Rs 33.35 to Rs 1536.95, Hindalco fell by Rs 15.40 to Rs 126.40, Jindal Steel fell by Rs 17.90 to Rs 946.40. Has arrived. BSE Metal Index fell 476.76 points to 32664.95.
HPCL down by Rs 16 to Rs 415: BPCL down by Rs 11 to Rs 331: Reliance up to Rs 2738.
Funds also opted for selling in oil-gas shares today. HPCL fell by Rs 16.20 to Rs 415.20, BPCL fell by Rs 11.40 to Rs 331.25, Indian Oil Corp fell by Rs 5.05 to Rs 160.20, ONGC fell by Rs 6.45 to Rs 276.70, Adani Total Gas fell by Rs 13.30 to Rs 720.25. While the price of Reliance Industries increased by Rs 20.70 to reach Rs 2738.25.
Selective rise in auto stocks: See listing of Hyundai shares today: Bajaj Auto, TVS rise
Today, selection is being made in the shares of automobile companies. Following the mega IPO of Hyundai Motor India, interest was seen in select auto stocks in view of the share listing to be held tomorrow-Tuesday. Bajaj Auto price increased by Rs 437.45 to Rs 10,500.55, TVS Motor price increased by Rs 26.25 to Rs 3741.20, Mahindra & Mahindra price increased by Rs 27.05 to Rs 2990.80, Eicher Motors price increased by Rs 33.35 to Rs 2990.80. 4797.55, Hero MotoCorp rose by Rs 31.65 to Rs 5246.35, Apollo Tires rose by Rs 2.90 to Rs 508.55.
Due to increase in funds, HDFC Bank's profit increased by Rs 48 to Rs 1728: Kotak Bank's profit fell by Rs 80.
A mixed trend was seen in banking shares today. Shares of HDFC Bank rose by Rs 47.65 to Rs 1,728.80 on buying on report of five per cent rise in quarterly net profit and increase in fund allocation. At the same time, the net profit of Kotak Mahindra Bank also increased by five percent and the share fell by Rs 80.25 to Rs 1789.55. IndusInd Bank fell by Rs 38.55 to Rs 1308.
Gap in small, mid-cap stocks of operators, funds: Market breadth very poor: 2948 shares closed negative
There was a big gap in Sensex, Nifty today as funds, operators sold extensively in small, mid cap stocks today. Out of total 4175 stocks traded on BSE, the number of declining stocks was 2948 and the number of gaining stocks was 1102. The BSE Small Cap index fell 851.09 points to 55648.96 and the BSE Mid Cap index fell 781.40 points to 47164.93.
Net purchase of shares by DII was Rs. 3226 crore: Rs. 3226 crore by FPI/FII. Sale of shares worth Rs 2262 crore
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 2261.83 crore in cash today. There were sales of Rs 14,244.53 crore against total purchases of Rs 11,982.70 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 3225.91 crore in cash today. There were sales of Rs 10,515.22 crore against total purchases of Rs 13,741.13 crore.
Investors' asset-market capitalization fell by Rs 4.50 lakh crore to Rs 453.65 lakh crore.
Investor wealth i.e. the total market capitalization of BSE listed companies fell by Rs 4.50 lakh crore to Rs 453.65 lakh crore today due to widespread decline in small and mid cap stocks compared to a slight decline in Sensex and Nifty today.
Comments are closed.