MUMBAI: Stocks surged over the weekend on cautious funds, with retail investors opting to take a rest by selling stocks at small losses as the recovery stalled and the market turned bearish. Initially, IT-software services, technology stocks fell as banking-finance stocks took major losses in the market, which had turned soft yesterday after Infosys’ modest performance. However, Reliance Industries’ better-than-expected quarterly results and strong performance by Jio Platforms, Digital Services halted major Sensex, Nifty based losses and selective buying in FMCG stocks kept the shares attractive. Positive developments in China continued to attract metals stocks today. Sensex fell 423.49 points to 76619.33 and Nifty 50 spot index fell 108.60 points to 23203.20.
Infosys falls by Rs 111 to Rs 1815 after results: IT index falls by 1063 points
Heavy selling was seen in IT-software services, technology stocks, funds after Infosys’ results announced yesterday came in below analysts’ expectations. Infosys fell by Rs 111.10 to Rs 1815.10, TCS fell by Rs 82.40 to Rs 4125.70, Tech Mahindra fell by Rs 30.60 to Rs 1658.85. Wipro Ltd shares fell Rs 6.20 to Rs 281.85 today ahead of Wipro Ltd’s results announcement which saw net profit rise 24 per cent to Rs 3,354 crore against a marginal 0.5 per cent rise in revenue. Newgen fell by Rs 46.65 to Rs 1585.40, Sascon fell by Rs 58.85 to Rs 2027.85, Nelco fell by Rs 18.70 to Rs 1124, Sonata Software fell by Rs 10.65 to Rs 574.20. BSE IT index fell by 1063.31 points to close at 41746.66.
Shares rise by Rs 33 to Rs 1301 on better-than-expected results of Reliance: BPCL, Indraprastha gain
Reliance Industries’ third-quarter net profit rose 7.39 per cent to Rs 18,540 crore, a better-than-expected rise, with shares rising Rs 32.60 to Rs 1,301.30. BPCL rose by Rs 6.60 to Rs 273.65, Indraprastha Gas rose by Rs 7.75 to Rs 405.10, ONGC rose by Rs 3.25 to Rs 266.50, Oil India rose by Rs 4.75 to Rs 475.35. BSE Oil-Gas Index closed 321.10 points higher at 26105.18.
Axis Bank fell by Rs 49 due to weakness: Kotak Bank fell by Rs 47: Bankex fell by 1026 points.
After the poor quarterly results of Axis Bank, selling was seen in banking stocks today. Axis Bank shares fell Rs 48.95 to Rs 991 after quarterly net profit was 3.8 per cent higher than last year and 8.9 per cent lower than Q2 and net interest income rose 9 per cent to Rs 13,483 crore. Kotak Mahindra Bank fell by Rs 46.60 to Rs 1758.65, ICICI Bank fell by Rs 23.90 to Rs 1225.90, HDFC Bank fell by Rs 16.05 to Rs 1636.70, Federal Bank fell by Rs 3.85 to Rs 191.55.
Hind Aeronautic, Bharat Dynamic, NBCC gain: Capital Goods Index rises 1026 points
Capital Goods Index closed 1025.91 points higher at 54919.15 today due to rise in capital goods shares. NBCC increased by Rs 7.50 to Rs 95.32, Bharat Dynamics increased by Rs 75.65 to Rs 1276.75, Hindustan Aeronautics increased by Rs 197.40 to Rs 4115.90, RVNL increased by Rs 15.50 to Rs 426, CG Power increased by Rs 20.95 to Rs 648.50, ABB India Up by Rs 198.35 to Rs 6509.50, Siemens up by Rs 169.25 to Rs 6177.35, Titagraha Wagon up by Rs 28.45 to Rs 1082.20, Bharat Electronics up by Rs 6 to Rs 282.15, Larsen & Toubro up by Rs 2.56.10 to Rs 3568.50.
Players, retail investors eased into small, mid-cap stocks over the weekend: 1955 negative closings
On the final day of the week, market breadth weakened as players in small, mid-cap, cash stocks again withdrew, with retail investors selling cautiously. Of the total 4065 shares traded on BSE, the number of gainers decreased from 2725 to 1991 and the number of decliners increased from 1258 to 1955.
Metal-mining stocks continue to shine: NALCO, HINDALCO, Coal India, Tata Steel gain.
Funds continued to buy options in metal-mining stocks on hopes of improving China-US relations under the Trump administration. NALCO’s price increased by Rs 6.65 to Rs 205.25, Hindalco’s price increased by Rs 14.60 to Rs 617.05, Coal India’s price increased by Rs 8.65 to Rs 387.85, Tata Steel’s price increased by Rs 2.50 to Rs 130.30. 66.63, APL Apollo rose 21.05 to Rs 1568.20, Jindal Stainless rose by Rs 8.10 to Rs 633.65. BSE Metal Index closed 435.14 points higher at 28706.67.
Sterling & Wilson falls by Rs 46: Kalyan Jewellers, Jindal World, Policy Bazaar, PG Electro fall.
Among group stocks today, Sterling & Wilson Renewables fell by Rs 46.05 to Rs 414.50, Kalyan Jewelers fell by Rs 37.35 to Rs 501.65, Hutson fell by Rs 69.45 to Rs 971.15, J Corp fell by Rs 30 from Rs 7.80 to Rs 148.30, Jindal World Rs. .20.70 to Rs.526.10, Caffeine Tech fell by Rs.47.15 to Rs.1204.40, GE Shipping fell by Rs.34.30 to Rs.953.40.
Net sales by FPI/FII were Rs. 3318 crore cash: Net purchases by DIIs amount to Rs. 2573 crores
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 3318.06 crore in cash today Friday. There were sales of Rs 13,804.51 crore against total purchases of Rs 10,486.45 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 2572.88 crore in cash today. There were sales of Rs 9923.66 crore against total purchases of Rs 12,496.54 crore.
The asset-market capitalization of investors in shares increased by Rs 32 thousand crore to Rs 428.72 lakh crore.
The total wealth of investors i.e. the total market capitalization of BSE listed companies increased by Rs 32 thousand crore in a day to Rs 428.72 lakh crore.
