Sensex closed at 58163, up 21 points after falling 370 points
Mumbai: While there is a threat of global recession in countries including America, Europe, Finance Minister Nirmala Sitaram’s statement dismissing the possibility of economic slowdown in India and the encouraging quarterly performance of Corporate India for June 2022 will see a positive trend in the market. found. Indian stock market for the fifth consecutive day. Foreign portfolio investors (FPIs) were again big buyers in the Indian stock markets amid reports of deteriorating economic conditions in European countries and renewed US-China ties and economic uncertainty in China.
The feeling was getting stronger. Of course, with the shocks earlier today, let’s look at the Reserve Bank of India’s credit policy review and this time at 0. Not surprisingly, the announcement of an interest rate hike of 50 basis points was not surprising, with some analysts initially cautious in stocks. Due to this, the Sensex initially fell 370.80 points to a low of 57744.70. At the beginning of the decline, attractiveness in banking, FMCG, auto, stocks finally closed at 58136.36, up 20.86 points. Spot Nifty too fell 124.20 points to 17215.85 and finally ended up 5.40 points at 17345.45.
Bank stocks showed strength before RBI’s conclusion
In RBI’s credit policy review, positive factors including good results from banks dampened the attractiveness in banking stocks after initial caution, despite the possibility of an interest rate hike of up to 0.35 per cent this time. Up to 0.50 percent in some categories. Bank of Baroda rose by Rs 5,430 to Rs 121.70, Federal Bank rose by Rs 3.90 to Rs 110.80, IndusInd Bank by Rs 27 to Rs 1067.85, AU Small Finance Bank by Rs 13.25 to Rs 13.25. 618.15, Kotak Mahindra Bank rose Rs 29.80 to Rs 1884.35, State Bank of India rose Rs 8.25 to Rs 541.85.
DII net purchases of Rs 118 crore
Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs made a net purchase of shares worth Rs 825.18 crore in the cash segment today-Tuesday. Total sales of Rs.6701.15 crore were made against the total purchase of Rs.7526.33 crore. While DII-Domestic Institutional Investors made net purchases of Rs 117.79 crore in the cash segment today. A total of Rs 6091.07 crore was sold against the total purchase of Rs 6208.86 crore.
Investors’ wealth increased by Rs 97 thousand crore
Investors’ wealth i.e. the total market capitalization of companies listed on BSE increased by Rs 97 thousand crore to Rs 271.26 lakh crore in a single day today as buying attractiveness remained in many stocks.