Attraction in Consumer Durables, Auto, FMCG stocks

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- Nifty spot down 10 points 9029: Mega deals in Bharti Airtel buy FPIs / FIIs for Rs 4716 crore in cash, DIIs buy for Rs 2841 crore in cash


Mumbai, May 26, 2020, Tuesday

The world is on the verge of emerging from the Corona epidemic and many countries are trying to revive the economy by slowing down the lockdown, at a time when the number of corona leaps and bounds in India is on the rise and now the border between India and China is at Ladakh. Indian stock markets were seen offloading today on cautious global markets amid rising tensions as well as rising US-China tensions. The US dollar had lost 7 paise to Rs 4.5 against the rupee. International crude oil prices were up 7 cents at ૩૬ 3.05 a barrel and Brent crude was up 5 cents at ૯૯ 4.5 a barrel.

With the resumption of vehicle production by automobile companies led by FMCG giant ITC and short covering in auto stocks in anticipation of growth in rural demand, power-capital goods stocks with metal-mining stocks and bank-led shares of Titan The Sensex opened at 203.5 against the previous close of 304.5 and rose by 313.11 points to 3109.50.

With the US dollar depreciating against the rupee, the sale of funds in pharma stocks, including TCS and Tech Mahindra, and the sale of 7.5 per cent holdings by promoter Bharti Telecom in Bharti Airtel weighed on the Sensex. The point was down and closed at 30,609.50. While the Nifty spot also opened at 202.5 against the previous close of 206.9, reached a high of 21151.5, came back to a low of 7.5 and finally fell by 10.50 points to close at 205.05.

Shares of Bharti Airtel fell by Rs 4.5 to Rs 2.15 today after the promoter Bharti Telecom raised its holdings by Rs 6.5 crore by selling a 7.5 per cent stake. Among IT stocks, TCS fell by Rs 2.50 to Rs 12.5, Infosys by Rs 19.10 to Rs 20.15, Tech Mahindra by Rs 2.50 to Rs 20, NIIT Technology by Rs 16.05 to Rs. 16.5, HCL Technology fell by Rs 2.50 to Rs 5, MindTree fell by Rs 4.5 to Rs 21.50. The BSE IT index was down 2.31 points at 12.5.

Profit booking was also in pharma-healthcare stocks. Piramal Enterprises fell by Rs 2.50 to Rs 307.5, Thyrocare fell by Rs 4.5 to Rs 301.50, Newland Lab fell by Rs 21.50 to Rs 314.5, APL Ltd fell by Rs 21.5 to Rs. .0.05, Alchem ​​fell by Rs. 4.5 to Rs. 203.50, Cadila Healthcare fell by Rs. 3.50 to Rs.

Shares of FMCG giant ITC acquired Kolkata-based Sunrise Foods by Rs 3.15 to Rs 121.50. Vadilal Industries rose by Rs 2.50 to Rs 5, EID Perry by Rs 3.05 to Rs 19.15, Marico Industries by Rs 3.05 to Rs 41.50, Tata Consumer by Rs 2.50 to Rs. 21.5. Among consumer durables stocks, Titan Industries rose by Rs 2.50 to Rs 3.15 and Blue Star by Rs 4.5 to Rs 2.50.

Automobile stocks were also the picks with short covering. Motherson Sumi rose by Rs 4.5 to Rs 4.5, Eicher Motors by Rs 30.15 to Rs 15,9.50, Balakrishna Industries by Rs 2.10 to Rs 105.5, Exide Industries by Rs 4. 30 to Rs 13.5, Cummins India was up Rs 10.8 to Rs 30.3, Maruti Suzuki was up Rs 115.5 to Rs 4.5.

FPIs-FIIs-Foreign Institutional Investors made a net purchase of Rs 216.12 crore in shares of Bharti Airtel on Tuesday after a mega-Rs 5 crore exchange. Of this, a total of Rs 316.5 crore was sold against a total purchase of Rs 11,8.5 crore. On the other hand, DII-domestic institutional investors made a net purchase of Rs 21.08 crore in cash today. Of this, a total of Rs 3.5 crore was sold against a total purchase of Rs 200.05 crore.

The market breadth remained positive today as funds, investors again bought widely in small, mid-cap, cash stocks. Out of the total 6 scrips traded on the BSE, the number of gainers was 1,404 and the number of losers was 114. The only seller in 20 stocks was the lower circuit, as opposed to the upper circuit of the only buyer in 5 stocks.

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