Sensex rises 92 points to reach 61510

Mumbai: With Corona cases reaching a record level in China as well as strict control measures including lockdown in Beijing, Indian stock markets today remained in a positive zone due to the attraction of local funds in banking, financial services stocks. Against caution in global markets amid mutterings of a global recession. Crude oil prices […]
 


Sensex rises 92 points to reach 61510

Mumbai: With Corona cases reaching a record level in China as well as strict control measures including lockdown in Beijing, Indian stock markets today remained in a positive zone due to the attraction of local funds in banking, financial services stocks. Against caution in global markets amid mutterings of a global recession. Crude oil prices edged higher in Asian markets today as US crude stocks declined on negative news from China and supplies from Russia remained uncertain. Banking-finance stocks along with money in PSU companies and fertilizer stocks led the Indian stock market. While select automobile, metal-mining, oil-gas, healthcare stocks remained attractive. But the initial surge was washed away by profit-booking as the fund refrained from taking big bullish trades on the rebound. Sensex closed up 91.62 points at 61510.58 and Nifty closed up 23.05 points at 18267.

Bankex rises 324 points: Federal Bank, State Bank, BOB, Kotak Bank, Bandhan Bank rise

The BSE Bankex index closed 323.56 points higher at 48827.25 led by widespread buying by local funds in banking stocks. Federal Bank was up by Rs 2.90 to Rs 134.35, State Bank of India up by Rs 8.65 to Rs 607.75, Bank of Baroda up by Rs 2 to Rs 168.80, AU Small Finance Bank up by Rs 6.15 to Rs 623.70, Kotak Mahindra Bank up by Rs 13.85 to Rs 1953.40, ICICI Bank rose by Rs 4.15 to Rs 927.

Fino Payments up from Rs 38 to Rs 230 in finance stocks: Edelweiss, Hudco, PNB jump

In finance and other banking stocks also today, funds and maharathis made heavy purchases. Fino Payments advanced by Rs 38.45 to Rs 230.70, Edelweiss by Rs 3.75 to Rs 63.50, HUDCO by Rs 2.60 to Rs 50.80, Centrum Capital by Rs 1.25 to Rs 24.70, PNB by Rs 2.20 to Rs 2.20. Prudent Advisors rose by Rs 50.35, Prudent Advisors rose by Rs 35.85 to Rs 841, Religare Enterprises rose by Rs 7.25 to Rs 175.60, Equitas Holding rose by Rs 4.20 to Rs 106.85, Ujjivan Small by Rs 1 to Rs 1.28.60, Ujjivan Financial by Rs 8.95.40 307 Can Fin Home rose by Rs 12.60 to Rs 526.50, MCX India by Rs 29.35 to Rs 1535.05, Canara Bank by Rs 6.45 to Rs 526.50.325, IIFL Finance by Rs 6.80 to Rs 469.75.

Metal stocks gain: JSW Steel, SAIL, Nalco, Hindalco, Tata Steel pull funds

Metal-mining stocks have been a favorite attraction of money since the elimination of tariffs on steel exports. JSW Steel rose by Rs 11.85 to Rs 720.20, SAIL by 90 paise to Rs 83.15, NALCO by Rs 74.35, Coal India by Rs 1.50 to Rs 230.60, Hindalco by Rs 2.10. 433.25, Tata Steel rose by Rs 105.60, Jindal Steel by Rs 1.85 to Rs 525.45. Profit-booking declined by Rs 2.20 to Rs 307.85 in Vedanta after it declared third interim dividend of Rs 17.50 per share today.

Paytm Rs. Breaks low of 440 and finally Rs. Drops to 452: New era tech stocks continue to slide

Reliance Industries’ entry into the financial services business through the Jio platform and the demerging and listing of financial business companies by Reliance were announced at the time of announcing the second quarter results. Today it touched a low of Rs.440.35 and finally fell Rs.24.80 or 5.20 per cent to Rs.452.30. Along with this, continuous selling was also seen in other new-age technology stocks.

PSU, fertilizer stocks rally: RCF, GSFC, National, RailTel, Rail growth up

Funds in PSU-public enterprises stocks and fertilizer companies stocks rallied aggressively today. RCF rose by Rs 12.15 to Rs 116.40, National Fertilizers by Rs 4.95 to Rs 56.45, GSFC by Rs 8.30 to Rs 129, GNFC by Rs 32.15 to Rs 623.95. Rs 12.30 to Rs 297.15. Along with this, RailTel rose by Rs 11.45 to Rs 143.60, Rail Vikas Nigam rose by Rs 5.75 to Rs 63.70, IRCON rose by Rs 4.60 to Rs 61.55, HUDCO rose by Rs 10. Shares rose by Rs 2.60 to Rs 50.80, MMTC by Rs 2.10 to Rs 37.50, MTNL by Rs 1.50 to Rs 22.80.

Fraud bubble in small, mid cap stocks: Money outflow picks up: 1850 stocks close positive

Small, mid-cap stocks showed deceptive upside in select stocks today as short funds, valuation players. As a result the market breadth turned partially positive today. Funds, players of course, were making this deceptive show and selling shares at every jump. The gainers were 1850 and the decliners were 1647 out of total 3627 stocks traded on BSE.

FPI/FII net sale of Rs 790 cr in cash: DII net buy of Rs 414 cr

Foreign portfolio investors (FPIs), foreign institutional investors (FIIs) sold shares worth Rs 790 crore net in the cash segment today-Wednesday. Total sales were Rs 8020.99 crore against total purchases of Rs 7231.13 crore. While DII-domestic institutional investors made net purchases of Rs 413.75 crore in the cash segment today. Total sales were Rs 5710.23 crore against total purchases of Rs 6123.98 crore.