Index-based rally led by Reliance: FMCG, pharma, IT stocks attract 199 Sensex jumps 199 points

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Nifty spot rises 52 points to 9251: Consumer durables, auto stocks soften: FPIs / FIIs make net purchases of Rs 1,725 ​​crore in cash, DIIs make net sales of Rs 1,503 crore in cash


(Gujarat News Correspondent) Mumbai, May 08, 2020, Friday

Over the weekend, Indian stock markets today saw an index-based move in stocks led by Reliance Industries. Shares of Reliance Industries, led by US-based Vista Equity, another private equity venture on Reliance Industries' Geo Platforms, have risen by more than two per cent for Rs 11,367 crore. Along with this, FMCG stocks as well as IT-software services stocks and oil-gas, pharma stocks were the attraction.

While industries, including automobiles, are seeking economic relief in the wake of the Corona epidemic, there is growing confusion for the government in the deteriorating situation and uncertainty over when the economic package will be unveiled. Global markets saw an overall recovery today ahead of the release of employment data in the US.

International crude oil prices remained strong. The Sensex gained 199.32 points to 31,642.70 and the Nifty spot rose 52.45 points to close at 9251.50 on the back of gains in Reliance Industries, FMCG, oil-gas and IT stocks. The US dollar had lost 21 paise to Rs 75.54 against the rupee today.

Shares of Reliance Industries rose by Rs 54.55 to close at Rs 1,561.80 as another private equity venture on Reliance Industries' Geo Platforms, US-based Vista Equity, announced a buy of more than two per cent holding for Rs 11,367 crore.

Funds in IT-software services stocks were the preferred pick today. Tech Mahindra up Rs 19.95 to Rs 536, NIIT Technology up Rs 27.25 to Rs 1401.05, MindTree up Rs 13.15 to Rs 891.10, Infosys up Rs 9.60 to Rs 674.65, HCL Technology up Rs 6.50, TC Rs .2.25 to Rs. 1893.50. FMCG stocks saw renewed fundraising today.

Shares of Hindustan Unilever rose by Rs 95.85 to Rs 2,088.35 after the giant shares of GlaxoSmithKline were sold for 3. 3.35 billion yesterday. EID Perry rose by Rs 15.95 to Rs 164.65, Future Consumer by Rs 9.38. Nestle India rose by Rs 665.25 to Rs 17,798.10, ATFL by Rs 12.05 to Rs 458.65, Britannia by Rs 76.85 to Rs 2992.10 and Godrej Consumer by Rs 12.50 to Rs 499.10.

Healthcare-pharma stocks remained the attraction. JB Chemicals increased by Rs 36.40 to Rs 645.25, Panacea Biotech increased by Rs 7.05 to Rs 148.30, Dr. Reddy's Laboratories increased by Rs 149.10 to Rs 3983.45, Sun Pharma increased by Rs 16.70 to Rs 469, Apollo Hospital increased by Rs 40.95. 1314.40, Biocon increased by Rs.9.55 to Rs.359.20, Lupine by Rs.21.60 to Rs.835.20, Newland Lab by Rs.10.50 to Rs.427.95, Diviz Lab by Rs.43.65 to Rs.2301.45, Novartis by Rs.7.35 to Rs.589.30 Labs were up by Rs 28.85 to Rs 2588.55. Profit booking was also done in automobile stocks.

Mahindra & Mahindra fell by Rs 14.30 to Rs 386.45, Amarraja batteries fell by Rs 13.05 to Rs 544.35, Maruti Suzuki fell by Rs 91.90 to Rs 4657.50, Hero MotoCorp fell by Rs 35.20 to Rs 1962.35, Eicher Motors fell by Rs 14.58 to Rs. Were living.

Market breadth remained negative as small, mid-cap, cash stocks continued to sell today. Out of the total 2510 scrips traded on the BSE, the number of decliners was 987 and the number of gainers was 1343. The only seller in 214 stocks was the bearish lower circuit while the only buyer in 192 stocks was the bullish upper circuit. FII-FPIs (Foreign Portfolio Investors) recorded a net purchase of Rs 1,724.71 crore in cash today-Friday.

A total of Rs 4367.26 crore was sold against a total purchase of Rs 6091.97 crore. DII-domestic institutional investors today saw a net sale of Rs 1,503.14 crore in cash. A total of Rs 4919.75 crore was sold against a total purchase of Rs 3416.61 crore.

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