Sensex tumbles 743 points to end 52 points lower at 2,600 high-volatility
Mumbai : Global markets today witnessed a flurry of geopolitical tensions as China launched a missile strike on the eastern side of Taiwan in the name of military drills, prompting Taiwan to face the consequences of the US House Speaker’s visit to Taiwan. Indian stock markets also witnessed two-way volatility today, with Sensex up over 2500 points and Nifty over 750 points. Of course, foreign portfolio investors (FPIs) have become buyers in fewer stocks in the Indian stock markets. Even today, taking the opportunity to buy short stocks in a market of exceptional volatility, the market finally moved into positive territory in the last half hour. And then came back to the negative zone at the end of trading. The Sensex fell 51.73 points to 58298..80 and the Nifty spot closed down 6.15 points at 17382.
The fund’s rally in metal-mining stocks, along with pharmaceuticals-healthcare technology stocks, against selling in Reliance, IT-software services banking-finance stocks, provided much-needed support to the market. However, six consecutive days of index-based correction finally came to a halt. The rupee today fell 31 paise to 79.46 against the US dollar.
How was the Sensex 2600 points, Nifty 800 points fluctuate? IT, pharma stocks support
The Sensex opened at 58571.28 against the previous close of 58350.53, initially up 362 points at 58712.66, then down 773.48 points from the previous close, and fell 1135.61 points from the previous close to a low of 57577.05, then from the top of the bearish Reached to 58365. Finally it closed at 58298.80, down 51.73 points. Nifty also opened at 17463.10 against the next close of 17388.15 and initially rose 102.55 points to 17490.70, rose 329.45 points to reach a low of 17161.25 and then rose 265 points to close at 17425. 6.15 points down and closed at 17382. Pharma heavyweight Sun Pharma, Dr. Reddy’s Lab in the last half hour. Along with IT stocks, metal stocks including Infosys, Wipro, TCS and FMCG stocks Nestle India, ITC and Tata Steel saw gains.
IT stocks jump: Subex up 20 per cent for second day in a row: IndiaMart up 63 months
Funds in IT-software services, technology stocks were trailing US markets today. The BSE IT index closed 367.86 points higher at 30169.25. At Subex, the stock rose by Rs 6.65 to Rs 39.95 in a 20 per cent rise circuit for the second day in a row on the attractiveness of the deal with Jio. Infibeam Avenue gained Rs 1.05 to Rs 15.96, 63 Moons Technology rose Rs 9.35 to Rs 197, Indiamart rose Rs 201.10 to Rs 4489.55, Infosys rose Rs 34.50 to Rs 1599. .65, Thrust rose Rs 52.65 to Rs 2372.60, L&T Technology rose Rs 52.30 to Rs 3528.05.
Healthcare index up 439 points: Lupine up Rs 32, Sun Pharma up Rs 22 on good results
The BSE Healthcare index closed 439.18 points higher at 23252.34 as funds today started aggressive buying in healthcare-pharmaceuticals companies. Zydus Life rose by Rs 18.20 to Rs 364.55, Lupine Q3 up Rs 32.45 up to Rs 660.25, Cipla by Rs 33.65 to Rs 1044.35, IPCA Labs by Rs 45.85 to Rs 1025.30, Sun Pharma Industries up Rs. 22.10 to Rs 919, Gland Pharma up Rs 52.85 to Rs 2317.30, Dr Reddy’s Lab by Rs 54.40 to Rs 4149, Hester Bio up by Rs 104.50 to Rs 2425.
Reliance falls by Rs 34 to Rs 2571: Banking stocks fall: Bank of Barado, Bandhan Bank, State Bank fall
In Reliance Industries, the fund’s profit-booking fell by Rs 34.40 to Rs 2571.40. However, Adani Total Gas rose by Rs 70.05 to Rs 3334.65. Along with this, banking stocks also softened. Bank of Baroda fell by Rs 2.45 to Rs 118.60, Bandhan Bank fell by Rs 5.30 to Rs 278.85, State Bank of India fell by Rs 7.90 to Rs 532.90, Axis Bank fell by Rs 8.55 to Rs. .721.75.
Market breadth Negative: Caution in small, mid cap stocks Profit booking: 1859 shares close to negative
Funds in cautious small, mid-cap, cash stocks, market breadth turned negative today with major index-based volatility booking broad profits. Out of total 3477 shares traded on BSE, the number of losers was 1859 and the number of gainers was 1484.
Despite China-Taiwan tensions, the global stock market improves due to the softening of the economic slowdown
Despite China’s missile attack on Taiwan, global markets today recovered sharply from the shock. Global markets improved as the global economic slowdown eased and crude oil prices declined. In Asian markets, Japan’s Nikkei 225 index rose 190.30 points to 27932.20, Hong Kong’s Hang Seng index rose 406.95 points to 20174.04. European markets also improved. International crude oil prices were close to Brent crude at $97.48 and Nymex at $91.65.