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Mumbai: Against the backdrop of prevailing economic uncertainty in the US and European countries, India’s corporate results season witnessed good overall results for many companies, with the attractiveness of decisions to boost economic growth and the growing confidence of foreign funds in India’s growth story, the Index- Shares continued their uptrend over the weekend. Funds rallied in banking-finance stocks today, valuations of automobile companies rose, while Sensex again crossed 62000 level and finally closed up 123.38 points at 62027.90 and Nifty spot closed up 17.80 points at 18314.80.
Sure enough, a sell-off in oil-gas stocks along with a fall in global crude prices, a fall in global non-ferrous industrial metal prices and Vedanta’s weak quarter led to money selling in metal-mining stocks. , In the evening, international crude oil prices traded low with low volatility as Brent crude settled at $75.22 and Nymax crude at $71.15.
took in banking shares
Banking-finance stocks remained the fund’s pick today. IndusInd Bank rose by Rs 21.45 to Rs 1209, Axis Bank by Rs 15.15 to Rs 910.80, HDFC Bank by Rs 13.90 to Rs 1667.60, State Bank of India by Rs 4.70 to Rs 578.10, AU Small Bank by Rs 5.60 to Rs 713.15, ICICI Bank by Rs 4.35 to 94 Rs 3.75 Went. The BSE Bankex index closed at 49768.18, up 359.32 points.
Profit booking in small and mid cap stocks
Market breadth in small, mid cap, cash stocks turned negative today with profit booking in many stocks over the weekend. Out of total 3638 traded scrips on BSE, the number of decliners were 1924 and gainers were 1592.
Net sales of DII Rs 922 crore
Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) made net purchases of shares worth Rs 1014.06 crore in the cash segment today-Friday. Total sales were Rs.8145.43 crores against total purchases of Rs.9159.49 crores. While DII-domestic institutional investors made a net sale of Rs 922.19 crore. Total sales were Rs.6379.59 crores against total purchases of Rs.5457.40 crores.
