MUMBAI: As geopolitical tensions ease with Israel agreeing to end war with Lebanon before Donald Trump takes power in the United States, the selection in cabinet formation was in favor of encouraging China and India. Positive effect of being in profit, rise in shares today. Along with this, the market got the necessary booster dose because Foreign Portfolio Investors (FPIs), FIIs stopped selling in shares and started buying again. As funds, players, high net worth investors became active, small and mid cap stocks again witnessed a stormy rally.
Along with this, selected banking-finance stocks HDFC Bank, Bajaj Finance, Bajaj Finserv, Axis Bank, Automobile Stock Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Capital Goods-Power Stock NTPC, IT Stock Tech Mahindra, Infosys, FMCG Stock Nestle India. Sensex tops 80500 level intra-day with gains in Hindustan Unilever went up to 80511.15 and finally closed 230.02 points higher at 80234.08 and Nifty 50 Spot Index went up 24354.55 and finally closed 80.40 points higher at 24274.90.
Rise in capital goods stocks
Today funds bought heavily in capital goods shares as per their choice. Bharat Electronics rose by Rs 9.45 to Rs 307.25, Hindustan Aeronautics rose by Rs 115.10 to Rs 4478.40, Siemens rose by Rs 183.80 to Rs 7429.70, Polycab rose by Rs 169.55 to Rs 7044.55, ABB India rose by Rs 175.85 to Rs 7505, Lakshmi Machine Works It rose by Rs 138.85 to reach Rs 15,965. The BSE Capital Goods index closed 784.85 points higher at 70332.46.
Attraction in automobile stocks
After yesterday’s big selling in the shares of automobile comp.es, there was less selective buying today. TVS Motor rose by Rs 21.30 to Rs 2443.95, Bajaj Auto rose by Rs 58.75 to Rs 9198.30, Mahindra & Mahindra rose by Rs 16.50 to Rs 3004.35, MRF rose by Rs 507.35 to Rs 1,24,714. BSE Auto Index closed 224.92 points higher at 53146.13.
rise in banking shares
Funds again bought heavily in banking-finance shares today. Fresh fund buying in HDFC Bank led the stock to hit a new high of Rs 1817.20 and finally closed at a new high of Rs 1811 after rising by Rs 25.60. Finance, Among other banking stocks, ABSL AMC rose Rs 36.85 to Rs 882.35, Paytm rose Rs 32.20 to Rs 918.65, HUDCO rose Rs 7.70 to Rs 220.60, Bajaj Finance rose Rs 85.05 to Rs 6704.15. Aadhaar Housing Finance increased by Rs 17.25 to Rs 424.
rise in IT shares
Funds in IT-software services and technology shares remained the favorite buys today. Axiscades Technology rose by Rs 16.75 to Rs 448.65, Datamatics rose by Rs 18.70 to Rs 572, Quick Hill Technology rose by Rs 19.80 to Rs 621.25, Nelco rose by Rs 30.65 to Rs 1018. Zensar Technology rose by Rs 21.15 to Rs 770.10.
2563 shares closed positive
With funds, players, high net worth investors becoming active again, small and mid cap stocks again witnessed broad rally today. Hence the market breadth was positive. Of the total 4040 shares traded on BSE, the number of gainers was 2563 and the number of decliners was 1380.
FII purchased Rs 8 crore
Today on Wednesday, FIIs made a net purchase of shares worth Rs 7.78 crore in cash. While DII-Domestic Institutional Investors made net purchases of Rs 1301.97 crore in cash today.
Investors’ wealth increased
Prices of small and midcap stocks rose as Sensex, Nifty rose, investors’ wealth i.e. total market capitalization of BSE listed comp.es increased by Rs 4.73 lakh crore in a day to Rs 444.48 lakh crore.
