Sensex closed at 58388 with a gain of 89 points

Mumbai: Foreign funds continued to sell short in equities, despite expectations of a 0.50 per cent hike in the repo rate by the Reserve Bank of India, on hopes that global crude oil prices and good monsoon progress will curb inflation. On the global front, crude oil prices fell to $94.76 for Brent and $89 […]
 


Sensex closed at 58388 with a gain of 89 points

Mumbai: Foreign funds continued to sell short in equities, despite expectations of a 0.50 per cent hike in the repo rate by the Reserve Bank of India, on hopes that global crude oil prices and good monsoon progress will curb inflation. On the global front, crude oil prices fell to $94.76 for Brent and $89 for Nymex-New York crude as OPEC cut production, as geopolitical tensions eased and China’s missile attack on Taiwan. Despite that the global recession subsided, indicating that it was ready to be resolved. Issue through talks Positive factors for India today took the market back into positive territory as money, banking, IT stocks declined in dollar today. Sensex, Nifty based gains were limited due to profit booking by the fund in automobile, consumer durables stocks. The Indian rupee today strengthened by 23 paise to 79.23 against the US dollar.

Funds that outperform F&O players in index-based persistent volatility, experts

Funds showed erratic movements in the market today as F&O players continued to be beaten by giant funds and big players in index based volatility. The Sensex opened at 58,421.04 against the next close of 59,298.80, after an initial jump of 351-points to reach 58,649.19, then fell to a low of 38,244.86 and finally closed 89.13 points higher at 58,387.93. Whereas spot Nifty closed at 17423.65 against previous close of 17423.65 and went up to 17474.40 and came back to 17348.75 and finally closed at 17397.50, up 15.50 points. In auto stocks, the fund sold Balkrishna Industries, Mahindra & Mahindra despite good quarterly results. Consumer durables stocks also booked profits.

ICICI Bank rises by Rs 19 to Rs 838: Bankex up 204 points

In banking-finance stocks, several stocks rose today on the back of the Reserve Bank’s repo rate hike. Of course, the BSE Bankex index closed 203.88 points higher at 43550.81 due to less fund selection. ICICI Bank rose Rs 18.55 to Rs 838.40, AU Small Finance Bank rose Rs 10.60 to Rs 647.60, Axis Bank rose Rs 6.50 to Rs 728.25. While State Bank of India, Kotak Bank, Bandhan Bank declined.

Shares fall despite Mahindra’s 67% rise in quarterly profit: Balkrishna Industries. Rs.156 broken

Today the funds in the shares of the automobile company were selling profitably. Mahindra & Mahindra’s quarterly net profit jumped 67 per cent to Rs 1,430 crore and revenue rose by Rs 11,765 crore to Rs 19,613 crore, but the stock fell by Rs 26 to Rs 1,236.20 as overbought conditions eased. Apart from this, Balkrishna Industries declined by Rs 155.95 to Rs 2163.85, Eicher Motors declined by Rs 56.45 to Rs 3088, Maruti Suzuki declined by Rs 134.90 to Rs 8836.05.

BSE IT index closed 217.06 points higher at 30386.31 as fund buying continued in IT-software services, technology stocks today. In Subex Limited, the company is contracting with Jio for 5G for three consecutive days, today the stock rose 10 percent or Rs 3.95 to Rs 43.90. ,

Cash purchase of Rs 1606 crore by FPI/FII : Sales of Rs 496 crore by DII

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs made a net purchase of shares worth Rs 1605.81 crore in the cash segment today-Friday. The total sales were Rs 6742.88 crore as against the total purchase of Rs 8348.69 crore. Whereas DII-Domestic Institutional Investors made net sales of Rs 495.94 crore in the cash segment today. A total of Rs 7756.56 crore was sold against the total purchase of Rs 7260.62 crore.Sensex closed at 58388 with a gain of 89 points