Mumbai: Calendar year 2024 ended on a subdued note with stock markets witnessing volatility on the last day today. Of course today the market absorbed the big fall as the funds became less valuable after the initial shock. Asian markets had a weak start today, US stock markets were in early decline yesterday due to negative factors including rising debt burden and credit card defaulters reaching their highest level since 2010. Apart from this, IT-software services, technology stocks TCS, Tech Mahindra, HCL Technology as well as banking-financial services stocks ICICI Bank, Bajaj Finance, IndusInd Bank, HDFC Bank, Bajaj Finserv were sold in the Indian stock markets.
The Sensex tumbled 687 points and eventually fell 109 points due to heavy buying by local funds.
The Sensex opened at 77,982.57 against the next close of 78,248.13, before falling as low as 687.34 points to 77,560.79. The decline led to short covering in leading IT stocks and Kotak Bank, State Bank of India, UltraTech Cement, ITC, Tata Motors, Tata Steel, Adani Ports, Larsen & Toubro, NTPC, Maruti Suzuki, Reliance Industries, Nestle India, Mahindra. Big losses in digesters including Sun Pharma reached 78305.34. Which ultimately fell by 109.12 points and closed at 78139.01 points. While the Nifty 50 spot index opened at 23560.60 as against the previous close of 23644.90 and then finally fell by 0.10 points to 23460.45 and closed at 23644.80.
Capital Goods Index rises 875 points: NBCC, RVNL, Thermax improve
Capital goods stocks witnessed improvement today due to selective valuation of short-term funds. NBCC rose by Rs 4.49 to Rs 92.82, RVNL rose by Rs 13.55 to Rs 422.65, Thermax rose by Rs 129.50 to Rs 4052.70, Keynes rose by Rs 231.25 to Rs 7413, TeamCan rose by Rs 40.35 to Rs 3121.25, Bharat Electronics rose by Rs 8.30. It rose by Rs 293.05, ABB India rose by Rs 192.90 to Rs 6913.95, LG Equipment rose by Rs 15.20 to Rs 577.75, Cummins India rose by Rs 56.60 to Rs 3279.15. BSE Capital Goods Index closed 875.23 points higher at 67779.50.
IT stocks fall after America: Zor Rs 83, Constant Rs 181, Tech Mahindra Rs 41
The US stock market Nasdaq fell yesterday and funds cut the bullish trade on a cautious note amid expectations of spending cuts amid a global slowdown in the IT sector. Mphasis fell by Rs 82.95 to Rs 2847.50, Persistent Systems fell by Rs 181 to Rs 6455.65, Tech Mahindra fell by Rs 41.10 to Rs 1705.55, Axiscades fell by Rs 13.95 to Rs 626, Happiest Mind fell by Rs 15.30 to Rs 734.40. Tata Elxsi fell by Rs 126.15 to Rs 6794, Coforge fell by Rs 174.10 to Rs 9660.65, TCS fell by Rs 61.75 to Rs 4097.20, Infosys fell by Rs 25 to Rs 1880.70, Oracle Finserv fell by Rs 1880.70 to Rs 214.90. Rs 12,776.35 BSE IT index fell 563.47 points to close at 43187.78.
China’s GDP estimates fall; Metal stocks fall: APL Apollo, Hindustan Zinc rise
Metal-mining stocks also got support from losses in preferred stocks today amid hopes of China achieving 5 per cent GDP growth amid recovery. APL Apollo rose by Rs 48.05 to Rs 1568.40, Hindustan Zinc rose by Rs 10.20 to Rs 443.70, Jindal Stainless rose by Rs 13.05 to Rs 699.45, Coal India rose by Rs 5.60 to Rs 383.90, Jindal Steel rose by Rs 11 to Rs 383.90. 930.65, SAIL rose by Rs 1.30 to Rs 113.10, NALCO rose by Rs 2.35 to Rs 211.75, Vedanta rose by Rs 3.90 to Rs 444.30.
Softening in auto stocks: Balkrishna Industries, Uno Minda, Motherson, Exide, Tata Motors rise.
Automobile stocks also saw value buying today with short covering favored at year end. Balkrishna Industries price increased by Rs 60.25 to Rs 2910.05, Uno Minda price increased by Rs 17.85 to Rs 1053.75, Motherson price increased by Rs 2.05 to Rs 156.15, Exide price increased by Rs 5.15 to Rs 416.75, Tata Motors price increased by Rs 6.95 to Rs 740.70, TI Bharat rose by Rs 32.85 to Rs 3571.65, Bosch rose by Rs 205.15 to Rs 34,070.15, Maruti Suzuki rose by Rs 65 to Rs 10,866.90.
FMCG stocks weak: Adani Wilmar, Colgate, Flair, BBTC, Tasty Bite fall.
Funds are also selling FMCG shares today. The stock fell Rs 21.25 to Rs 308.25 after Adani Enterprises decided to exit Adani Wilmar by selling its stake in Wilmar. Colgate Palmolive fell by Rs 92.50 to Rs 2681.95, Flair fell by Rs 6.85 to Rs 284.50, BBTC fell by Rs 40.30 to Rs 2118.55, Tasty Bite fell by Rs 127.20 to Rs 9920.70, Hindustan Unilever fell by Rs 17.55 to Rs 2326.75, Britannia fell by Rs 34.05 to Rs 4763.55.
Novartis falls Rs 34 to Rs 920: Max Healthcare, Polymed, Pfizer, Vimata, JB Chemicals fall
Funds were selling in healthcare-pharmaceuticals stocks today. Novartis fell by Rs 34.25 to Rs 919.80, Max Healthcare fell by Rs 38.55 to Rs 1128.60, Polymed fell by Rs 64.75 to Rs 2609.60, Pfizer fell by Rs 108.55 to Rs 5275.70, JB Chemicals fell by Rs 18.30 to Rs 995.25. Falling Rs 18.60 to Rs 1844.70, Ajanta Pharma fell Rs 25.25 to Rs 2931.75. While Supriya Life increased by Rs 42.75 to Rs 739.85, Indraprastha Medi increased by Rs 28.45 to Rs 522.90, Unichem Lab increased by Rs 34.85 to Rs 740.85, Morpen Lab increased by Rs 2.65 to Rs 78.30. Glaxo rose by Rs 63.55 to reach Rs 2252.
Market breadth positive as pricing in small, mid-cap stocks ends year: 2241 shares close positive
Today at the end of the year, the market breadth turned from negative to positive due to lower valuations in many small, mid cap, cash stocks. Out of total 4079 stocks traded on BSE, the number of declining stocks decreased from 2367 to 1729 and the number of gaining stocks increased from 1487 to 2241.
FPIs/FIIs made net sales of Rs 4645 crore in cash: DIIs made net purchases of Rs 4546 crore.
Foreign portfolio investors-FPIs, FIIs sold shares worth Rs 4645.22 crore in cash today. There were sales of Rs 10,595.37 crore against total purchases of Rs 5950.15 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 4546.73 crore in cash today. There were total sales of Rs 9003.56 crore against total purchases of Rs 13,550.29 crore.
The asset-market capitalization of investors in shares increased by Rs 60 thousand crore to Rs 441.95 lakh crore.
After the initial fall, today the valuation of Sensex, Nifty based quick covering, small, mid cap, A group shares decreased, the market capitalization of BSE listed companies i.e. the total wealth of investors increased by Rs 60 thousand crore to Rs 441.95 lakh crore. . Today.
