Sensex jumps 416 points to Rs 31,743 on buying of local funds in banking, pharma and IT stocks worth Rs 1,142 crore

(Gujarat News Correspondent) Mumbai, Ta. 27 April 2020, Monday

Franklin Templeton Mutual Fund's decision to close the Debt Mutual Fund Scheme last week due to redemption pressure and lack of liquidity in the bond markets has exacerbated the crisis in the mutual fund industry, prompting the central government and the Reserve Bank of India to launch a major financial crisis in the country. India liquidates Rs 30,000 crore for mutual funds In the last week of April, derivatives in the Indian stock markets, which had started DDT Lifeline, had stopped selling in the wee hours of April, again with short covering.

As the world is gripped by the Corona epidemic, it has become imperative to provide economic stimulus-relief to the business-corporate world. The central government is also considering giving a loan guarantee of Rs 3 lakh crore for loans to the country's MSME-medium and small scale sector. Finance stocks led the buyers. Along with this, in pharmaceuticals-healthcare, IT-software services, FMCG, consumer durables, oil-gas, automobile stocks, the Sensex jumped 216.5 points to close at 31,0.05 and the Nifty spot closed at 16.05 points. International oil prices fell again today to 3%.

The US dollar had lost 21 paise to Rs 2.7 against the rupee today. International crude oil prices fell again by 3%, or ૪ 4.5, to ૨ 13.5 a barrel, and Brent crude to ૫ 1.31 a barrel, due to a lack of new storage space for crude oil worldwide. Dollars began to call in the evening. Oil-gas stocks were the attraction today with falling crude oil prices.

HPCL rose by Rs 3 to Rs 205.50, Petronet LNG by Rs 4.05 to Rs 4.5, Indraprastha Gas by Rs 10.5 to Rs 4.5, BPCL by Rs 4.5 to Rs 5. 30, ONGC was up by Rs 2.50, Reliance Industries was up by Rs 13.5 to Rs 130.50. The BSE Oil-Gas Index rose by 12.61 points to close at 11.3.5.

Despite the US dollar depreciating 31 paise to 7.5 against the rupee today, IT-software stocks were the mainstay of the fund. Quick Hill jumped Rs 13.10 to Rs 115.50, MindTree increased by Rs 100.50 to Rs 21.50, Oracle Finserv increased by Rs 4.5 to Rs 31115, HCL Technology increased by Rs 13.15 to Rs. 20, Wipro rose by Rs 4.5 to Rs 12, Emphasis rose by Rs 4.5 to Rs 3.10, TCS rose by Rs 15 to Rs 15, Infosys rose by Rs 4.5 to Rs 4.5. . The BSE IT index rose by 19.15 points to close at 19,12.9.

Banking-finance stocks had a wide takeover of funds today. RBL Bank rose by Rs 2.50 to Rs 115.50, IndusInd Bank rose by Rs 4.5 to Rs 205.5, Axis Bank rose by Rs 2.50 to Rs 2.50, Kotak Mahindra Bank rose by Rs 4.5. ICICI Bank rose by Rs 14.50 to Rs 4.5, Federal Bank rose by Rs 1.50 to Rs 3.50, State Bank of India rose by Rs 1.15 to Rs 120.5 , ICICI Prudential jumps up Rs 31.05 to Rs 4.5, Mannapuram rises Rs 4.5 to Rs 114.5, SBI Life Insurance Bajaj Finserv rose by Rs 4.5 to Rs 915.5, Tata Invest by Rs 20.5 to Rs 2.50, HDFC AMC by Rs 19.50 to Rs 210. 6.4. The BSE Bankex Index jumped 4.31 points to close at 7,114.5.

Shares of pharmaceuticals companies continued to rise in the wake of the Corona epidemic. Panacea Biotech jumped Rs 4.5 to Rs 19.50, Pfizer announced a special dividend of Rs 20 per share, the shareholder jumped Rs 4.5 to Rs 2.50, Newland Lab rose Rs 2.50 to Rs. 31.05, APL Ltd. increased by Rs. 4.5 to Rs. 319.50, Piramal Enterprises increased by Rs. 2.50 to Rs. 216.10, Apollo Hospital increased by Rs. 2.50 to Rs. 2.50 to Rs 1,405.5, Abbott India to Rs 2.15 He was Rs .16,981.70. The BSE Healthcare Index was up 2.4 points at 12.3.5.

FMCG stocks were also bullish today. Tata Consumer jumps up Rs 4.5 to Rs 4.5, Britannia jumps up Rs 12.5 to Rs 4.5, EID Perry rises Rs 4.5 to Rs 19.10, Tasty Bite rises Rs 4.05 to Rs Nestle India rose by Rs 3 to Rs 12,9.50, Hindustan Unilever by Rs 2.50 to Rs 30.50. The BSE FMCG index was up 12.5 points at 10.5.5.

The Reserve Bank of India (RBI) today launched a Rs 70,000 crore liquidity lifeline for mutual funds, with local funds-local institutional investors (DIIs) making a net purchase of Rs 1,151.5 crore in cash today. Of this, a total of Rs 30.7 crore was sold against a total purchase of Rs 206.5 crore. Foreign Funds-Foreign Portfolio Investors-FIIs were to sell a net sale of Rs 212.5 crore in cash today-Monday. Of this, a total of Rs 308.5 crore was sold against a total purchase of Rs 2.01 crore. FPIs today saw a net purchase of Rs 15 crore in index futures and a net sale of Rs 5 crore in stock futures.

Market breadth remained positive today as small, mid-cap, cash stocks were favored by high networth investors with funds. Out of the total 6 scrips traded on the BSE, the number of gainers was 1,404 and the number of losers was 1,080. The only seller in 4 stocks was the lower circuit against the upper circuit of the only buyer. The accumulated market capitalization of stocks in BSE-listed companies has risen by Rs 1.8 lakh crore in a single day to Rs 12.5 lakh crore.