Mumbai: The crisis rocked Indian stock markets today as a US court convicted Ad. Group Chairman Gautam Ad., his nephew Sagar Ad. and six others on charges of fraud worth Rs 2,029 crore and bribery of Indian officials. The last one and a half month has seen continuous selling in stocks by foreign portfolio investors (FPIs) and on the global front, there is speculation about changed equations after Donald Trump’s victory in the US, increasing resentment over China and the approval of the Biden government. The use of American weapons in the war against Russia in Ukraine and the subsequent US missile attack on Russia from Ukraine, as well as the threat of nuclear war on Russian President Vladimir Putin increased, Tencent shares also saw a selloff. Today there was a rise in the shares of Ad. Group comp.es, there was a rise in automobile, capital goods, banking, oil-gas shares and FMCG, consumer durables shares. Intra-day, the Sensex fell 775.65 points to a low of 76802.73 and finally closed 422.59 points lower at 77155.79 after a partial recovery. While the Nifty 50 spot index fell 255.35 points to 23263.15 intra-day and after partially recovering fell 168.60 points to close at 23349.90.
Auto stocks again in reverse gear: Motherson Sumi, TI India, Eicher Motors fall
Today again players and funds sold shares of automobile comp.es heavily. Motherson Sumi fell by Rs 3.30 to Rs 161.85, TI India fell by Rs 67.55 to Rs 3541.55, Eicher Motors fell by Rs 83.80 to Rs 4880.90, TVS Motor fell by Rs 40.10 to Rs 2389.20, Balkrishna Industries declined. The price of Sundaram Faster increased by Rs 44.45 to Rs 2723.45, the price of Sundaram Faster decreased by Rs 17.70 to Rs 1163.40, the price of Maruti Suzuki decreased by Rs 106.65 to Rs 10,861.80, the price of Cummins India decreased by Rs 106.65 to Rs 10,861.80. BSE Auto Index fell 478.58 points to close at 52303.81.
Thermax down Rs 258 to Rs 4374: Kalpataru Power down Rs 50, Grindwell down Rs 69, BDL down Rs 39
The fund sold capital goods stocks today. Thermax fell Rs 257.80 to Rs 4373.90, GMR Infra fell Rs 3.72 to Rs 76.80, Kalpataru Power fell Rs 49.55 to Rs 1143.85, BDL fell Rs 39.35 to Rs 926.70, Grindwell fell Rs 69.05 to Rs 2029.15, Pvt Industries Fallen by Rs 18.20 to Rs 675.90, RVNL fell by Rs 10.20 to Rs 421.65, Honeat fell by Rs 890.95 to Rs 41,136.90, Bharat Forge fell by Rs 25.95 to Rs 1296.80.
Ad. Total Gas falls by Rs 70 to Rs 602: Indraprastha Gas, ONGC, IOC, Reliance fall.
Funds were selling oil and gas shares today. Ad. Total Gas fell by Rs 69.90 to Rs 602.35, Indraprastha Gas fell by Rs 9.40 to Rs 310.90, ONGC fell by Rs 5.70 to Rs 242.20, IOC fell by Rs 2.40 to Rs 130.75, BPCL fell by Rs 5.10 to Rs 282.45, Reliance Industries Decreased by Rs 18.10 to Rs 1223.20.
Buying in IT stocks stops big fall: Coforge up by Rs 94: HCL, TCS fall
Funds in IT-software services and technology shares remained the favorite buys today. Coforge rose by Rs 93.60 to Rs 8210.10, HCL Technology rose by Rs 15.80 to Rs 1836.35, TCS rose by Rs 33.30 to Rs 4072.85, LTI Mindtree rose by Rs 45.10 to Rs 5931.05, L&T Technology rose by Rs 33.30 to Rs 5931.05. Up by Rs.32.75 to Rs.5165.70, Infosys rose by Rs.9.30 to Rs.1834.05, Persistent by Rs.15.20 to Rs.5725.50. The BSE IT index closed 149.85 points higher at 41,542.32.
Caution in new purchases in banking stocks: Bank of Baroda, Canara Bank, State Bank of India declined.
There was partial selling by funds in banking-finance stocks. Bank of Baroda fell by Rs 8.60 to Rs 228.60, Canara Bank fell by Rs 3.25 to Rs 94.50, IndusInd Bank fell by Rs 18.45 to Rs 981.70. While Federal Bank rose by Rs 4.10 to Rs 210.80, Kotak Mahindra Bank rose by Rs 7.50 to Rs 1734.15.
Selling by retail investors in small, mid cap stocks, market breadth negative: 2809 shares closed negative
Market breadth in small, mid-cap, cash stocks remained negative today due to widespread selling by retail investors due to increased market jitters. Out of total 4065 shares of BSE, the number of declining shares was 2809 and the number of rising shares was 1171.
FPIs/FIIs net sold Rs 5321 crore in cash: DIIs net bought Rs 4200 crore
Foreign portfolio investors (FPIs), FIIs sold shares worth Rs 5320.68 crore in cash today-Thursday. Whereas DII-domestic institutional investors bought net shares worth Rs 4200.16 crore today.
The asset-market capitalization of investors in stocks fell by Rs 5.28 lakh crore to Rs 425.38 lakh crore.
Funds, retail investors, players sold the shares heavily today, investors’ wealth i.e. the total market capitalization of BSE listed comp.es decreased by Rs 5.28 lakh crore in a day to Rs 425.38 lakh crore.
National Stock Exchange seeks clarification from Ad. Group comp.es
Ad. Group’s problems are increasing one after another. The National Stock Exchange has sought clarification from the group comp.es following bribery allegations by a US court. Ad. Group company Ad. Enterprises said in a corporate announcement on November 21 that clarification has been sought by NSEA in this matter. Clarification has been sought regarding the latest news regarding ‘Ad. Group Stock’.
