Mumbai: After falling in the shares for the second consecutive day, the market showed strength today. While foreign portfolio investors (FPIs), who cut the kites of many bullish investors, have still continued to sell heavily in stocks, and buying of local funds by local institutional investors—will be able to bring a big rally in the market, its crisis Shares saw a cautious rise due to confidence. The Indian rupee rose 27 paise to 86.37 against the US dollar as global crude oil prices rose again marginally despite a decline in inflation in the UK. There was a huge decline in healthcare stocks compared to selective buying in IT, capital goods-electricity, consumer durables stocks. On the global front, US stock markets continued to strengthen against a recovery in Dow Jones as Nasdaq continued to remain subdued and inflation eased in Europe, UK. Funds sold healthcare stocks behind AstraZeneca. Sensex opened at 76,900.14 against next close of 76,900.14, rose 491.42, went as high as 79,991.05 and came back as low as 76,479.79 and closed at 76,724.08, down 224.45 points. While Nifty 50 spot index opened at 23250.45 against the next close of 23176.05 and at one time went up by 117.60 points to 23293.65 and came back to 23146.45 and finally closed at 23213.20 with a rise of 37.15 points.
Covering in IT stocks
Despite continued weakness in the US stock market Nasdaq, funds today made selective purchases with less covering in IT-software services, technology stocks. Tech Mahindra increased by Rs 26.65 to Rs 1673.90, Imudra increased by Rs 13.65 to Rs 1673.90, LTI Mindtree increased by Rs 52.45 to Rs 5805, HCL Technology increased by Rs 12.65 to Rs 1826.
Capital goods stocks rose
Selling in capital goods stocks also stopped and selective buying was seen today. Thermax rose by Rs 291.55 to Rs 4029.10, NBCC rose by Rs 2.19 to Rs 86.26, BHEL rose by Rs 4.95 to Rs 202.25, Larsen & Toubro rose by Rs 42.15 to Rs 3507.50, LMW rose by Rs 2.15 to Rs 3507.50. Rs.161 to Rs.16,080.
Mixed trend in auto stocks
There was selective buying in shares of automobile companies today. Motherson Sumi rose by Rs 3.65 to Rs 149.40, Maruti Suzuki rose by Rs 198.10 to Rs 11,940.60, TVS Motor rose by Rs 15.95 to Rs 2252. While Mahindra & Mahindra fell by Rs 88.60 to Rs 2960.05, Ashok Leyland fell by Rs 3.35 to Rs 206.70, Tata Motors fell by Rs 7.15 to Rs 763.45, Bosch fell by Rs 184.30 to Rs 31,474.30.
Selling in healthcare stocks
There was sudden selling seen today by funds in healthcare-pharmaceuticals stocks. AstraZeneca fell by Rs 318.35 to Rs 6712, Hester Bio fell by Rs 63.80 to Rs 2170, MannKind fell by Rs 76.05 to Rs 2595 after reports of investigation into alleged illegal drug imports, data breach and insurance fraud, corruption against AstraZeneca in China . .40, Orchid Pharma fell by Rs 42 to Rs 1605. BSE Healthcare index fell 516.76 points to close at 42492.56.
Sell small, mid-cap stocks
After increasing buying volume earlier today, selling was seen in many stocks along with rise in small cap and mid cap stocks. Undoubtedly the market sentiment was moderately positive. Of the total 4064 stocks traded on BSE, the number of gainers was 2150 and the number of decliners was 1806.
DII’s net purchase of Rs 3683 crore
Today on Wednesday, FIIs sold shares worth Rs 4533.49 crore in cash. Whereas DII-Domestic Institutional Investors made net purchases of Rs 3682.54 crore in cash today.
Investors’ wealth increased to Rs 424.31 lakh crore
Despite selling in many stocks after an initial surge in index-based stocks, investors’ net wealth, i.e. the total market capitalization of BSE-listed companies, rose by Rs 1.08 lakh crore in a single day today to Rs 424.31 lakh crore. ,
