Mumbai: The major index of the Indian stock markets on Friday almost stabilized amidst the possibility of recession in the US and widespread selling in the IndusInd Bank scam in Asian markets. After the IndusInd Bank scam, there was a huge decline in banking shares due to deteriorating investors’ perception. Donald Trump did not give a clear answer to the journalists not to give a clear answer to whether the US will push towards the recession due to the tariff policy, concerns have increased among investors about global economic stability. Tariffs and government spending cuts in the US are likely to affect the growth of its economy, which is likely to affect other countries around the world including India, and it is also affecting the global stock markets. Domestically, banking shares declined as resulting in the IndusInd Bank case. After the initial weakness, the benchmark index BSE Sensex fluctuated between the lowest level of 73,663.60 and a high level of 74,195.17, finally a fall of 12.85 points to close at 74,102.32. The Nifty 50 index closed at 22,314.70, wandering within a radius of 22,522.10, and increased by 37.60 points to close at 22,497.90. There was a significant improvement in the Nifty Midcap. The market came above the lower level due to an increase in metal and oil and gas shares. Crude oil prices declined and the purchase prices of select heavyweight shares improved. The scope of the market remained negative. The price of 1466 shares increased on BSE while the price of 2506 shares declined. Prices of 120 shares were seen to be stable.
Nifty Bank index dropped 362 points due to the impact of IndusInd Bank case: ICICI, Kotak improves
IndusInd Bank case had a mixed impact on bank shares. ICICI Bank rose by Rs 30.55 to Rs 1245.40, Canara Bank rose by Rs 0.79 to Rs 83.28 and Kotak Mahindra rose by Rs 13.45 to close at Rs 1935.20. IndusInd Bank’s stock closed at Rs 655.95 at Rs 655.95, after revelations of discrepancies in derivative portfolio. HDFC Bank shares fell by Rs 2.00 to Rs 1685.50, Axis Bank’s stock fell by Rs 10.20 to close at Rs 1025.65.
Mixed trend in IT shares amid uncertain trade situation in America: TCS, Wipro, Infosys declines
Amidst the uncertain trade situation in the US, the prices of companies in the region came under pressure, as there was concern about the impact on the revenue of Indian IT companies with large business interests. Infosys fell by Rs 39.85 to Rs 1661.60, Wipro fell by Rs 3.15 to Rs 277.75 and Tech Mahindra fell by Rs 7.65 to close at Rs 1479.20. Persutenmen rose by Rs 72.95 to close at Rs 5239.95, while HCL Tech rose Rs 18.55 to close at Rs 1567.85.
Metal stocks boom: Welspun Corp, Vedanta, Hindalco, Nelco, Jindal Stainless, Sell
Due to the explanation of the Government of India that talks with the US on tariffs still continue to be attraction in metal shares. The possibility of relaxation of American policy of imposing high fees on Indian steel cannot be ruled out. Welspun Corp rose by Rs 23.25 to Rs 816.40 in NSE, Jindal Stainless increased by Rs 8.75 to Rs 649.35, Vedanta increased by Rs 4.15 to Rs 441.55 and Hindalco increased by Rs 6.35 to Rs 695.50. Nelco was seen trading at Rs 189.71 with a gain of Rs 1.59. There was a slight decline in NMDC and Tata Steel.
Due to the fall in crude oil prices, the shares of oil companies are getting support from purchasing at low prices.
Recently, due to the price of crude oil prices at a three -month low, share prices have been observed as it is expected that the country’s oil companies will benefit from it. BPCL rose by Rs 7.65 to Rs 264.58, IOC increased by Rs 3.23 to Rs 124.82, Oil India increased by Rs 6.30 to Rs 369.15, ONGC increased by Rs 3.53 to Rs 226.72. Castrol price rose by Rs 6.56 to Rs 241.37, while Petronet LNG price increased by Rs 7.15 to Rs 285.35.
FPI/FII cash in cash Sales of shares worth Rs 2823.76 crore: DII Rs. Purchase of Rs 2001.79 crore
Foreign Portfolio Investors (FPI), FII today-Tuesday Rs. It had a net sale of shares worth Rs 2823.76 crore. Total purchase Rs. Rs 8214.28 crore as against Rs. 1,00,000 crores. 11038.04 crore rupees were sold. Whereas domestic institutional investors (DII) received Rs. It made a net procurement of 2001.79 crore rupees. Total Rs. The total purchase was Rs 10895.62 crore while the purchase was Rs 20,895.62 crore. 8893.83 crore was sold.
