Sensex falls 337 points at 59120
Mumbai: With the US Federal Reserve raising interest rates to 0.75 per cent late last night and indicating further hikes, central banks in other countries such as Indonesia and the Bank of England also hiked and global markets were on alert amid fears of a nuclear war by Russia. . After breaking the historical 89 paise price open at 80.86, and even today, funds continued to reduce their overbought positions in the Indian stock markets. After the recovery in the US markets, the Dow Jones fell by 522 points and the Nasdaq by 205 points, causing panic in the global markets. However, selective valuation of funds in the Indian equity markets in automobile, consumer durables, FMCG stocks continued. Sensex fell 337.06 points to 59119 as funds curtailed large overbought positions especially in banking-finance stocks.
Bankex down 680 points: HDFC Bank, Tourism Fin., Axis, Central Bank, BoB fall
Funds today posted huge profits in banking-finance stocks. HDFC Bank fell by Rs 33.05 to Rs 1485.70, Axis Bank fell by Rs 16.85 to Rs 789.10, Bank of Baroda fell by Rs 2.90 to Rs 138.40, ICICI Bank by Rs 12.50 to Rs 902.85. Kotak Mahindra Bank fell Rs 20.55 to Rs 1897.60, IndusInd Bank fell Rs 8.30 to Rs 1215.60, Tourism Finance fell Rs 4.15 to Rs 70.45, Central Bank of India reported bank exit at PCA framework as operators offloaded, shares fell 40 paise 21.30, Karnataka Bank fell by Rs 1.65 to Rs 87.55, City Union Bank declined by Rs 7 to Rs 179.15, Shriram City fell by Rs 40.55 to Rs 1865.
Auto stocks jump: Maruti up Rs 155 to Rs 9404: Escorts, Eicher, Tata Motors attracted
The fund was being selected in automobile stocks amid expectations of increased vehicle buying across the country on the back of a successful monsoon. Escorts Kubota rose by Rs 56.95 to Rs 2140.05, Uno Minda by Rs 9.40 to Rs 551.40, Maruti Suzuki by Rs 155.15 to Rs 9403.85, Ashok Leyland 2.40 by Rs 164.55, Eicher Motors by Rs 49.30 to Rs 3737.25. Tata Motors rose by Rs 4.60 to Rs 432.30, Hero MotoCorp rose by Rs 21.40 to Rs 2797.75, MRF rose by Rs .287.65 to Rs 84,500. The BSE Auto index closed 222.31 points higher at 30540.55.
FMCG stocks continue to rise: Shree Renuka Sugar, Adani Wilmar, Hind Unilever, ITC up
Today, for the second consecutive day, the fund was heavily buying in FMCG shares. The BSE FMCG index ended 215.16 points higher at 16465.88. Shares rose by Rs 3.40 to Rs 60.20 on Shree Renuka Sugar’s report of ethanol capacity addition. Adani Wilmar rose by Rs 35.35 to Rs 817.90, Advance Enzymes up by Rs 11.15 to Rs 308.50, Hindustan Unilever by Rs 69.15 at Rs 2693.05, ITC Limited by Rs 4. .05 to a new five-year high of Rs 345.10.
Will there be a big scam in small, midcap stocks? Shares continue to fluctuate: 1764 shares closed negative
In the name of small, midcap stocks, operators, investors were dumping large numbers in the stock market and the scams of retail investors were getting exposed amid the continuous fall in stocks. Out of the total 3589 shares traded on BSE, the number of losers was 1764 and the number of gainers was 1676.
FPIs/FIIs net sales of Rs 2510 cr : DIIs net purchases of Rs 263 cr
Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) sold net shares worth Rs 2509.55 crore in the cash segment today-Thursday. Total sales of Rs 8449.20 crore were made against the total purchase of Rs 5939.65 crore. While DII-Domestic Institutional Investors made net purchases of Rs 263.07 crore in the cash segment today. Total sales were Rs.6171.94 crores as against total purchases of Rs.6435.01 crores.
Softening in global markets: Nikkei 159 points, Hang Seng down 296 points: Crude oil firm
Global markets were softening behind the US today. Japan’s Nikkei 225 index fell 159 points, Hong Kong’s Hang Seng fell 297 points. European markets were also marginally soft in the evening. Crude oil prices were also strong in the evening, Brent crude was close to $ 90.50 and Nymax crude was close to $ 83.67.