2700-point upheaval: Sensex loses 1190 points

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(Gujarat News Correspondent) Mumbai, Ta. 12 June 2020, Friday

With the number of positive cases in the global corona epidemic rising to more than 3 lakh and now the second wave of corona virus is about to start, the US stock markets plunged by 17 points intra-day in the Dow Jones index yesterday.

Despite the slowdown in Asian markets, European markets recovered sharply and the recovery in the US stock market today. Points rose to close at 8.30. Against the rupee, the US dollar opened at Rs 8.10 against Rs 7.5 today, touched a high of Rs 5.11 and finally rose five paise to Rs 4.5. International crude oil prices rose modestly, with Brent crude rising 3 cents to ૮૭ 2.4 and Nymex crude rising 15 cents to close at ૫૩ 4.5. With this, the accumulated market capitalization of investors listed on the BSE rose by Rs 2,000 crore to Rs 15 lakh crore today.

The Sensex opened at 2.4 against the previous close of 7.5, with reports of US cancellation of H1B visas in IT stocks from the outset. The Sensex fell by 1,150.5 points to 3.10 in the pre-opening session on the back of sell-off in frontline stocks and weakness in Kotak Mahindra Bank, Power Grid Corp, NTPC and Axis Bank.

Returning from the downturn, Mahindra & Mahindra's quarterly results in automobile stocks were declared as huge losses, but Lavali and Hero MotoCorp, Bajaj Auto, Maruti Suzuki and other local fund takers and Reliance Industries, Titan, Ultratech Cement, Ekta Pvt. At the top of the stage, it reached 7.5 and finally rose by 7.5 points to close at 20.8. Thus, the Sensex was up 300 points today.

IT stocks like TCS, Wipro, Infosys, Tech Mahindra, including offloading and Zee, Kotak Bank, Coal India, which initially opened at 4.5 against the previous close of 209, opened at 2.4. Auto stocks as well as Reliance Inc. Grasim, Ultratech Cement, Bajaj Finance, among others, rose to 8.05 and closed at 8.30, up 30.50 points.

Unlocked One has seen a resurgence of socio-economic activity in many parts of the country and with petrol and diesel prices soaring, demand for vehicles in rural areas is expected to pick up. Today, funds in auto stocks, including Mahindra & Mahindra's Sasangyong, lost Rs 1 crore. The stock was bullish on the compounding of the fund.

Mahindra & Mahindra rose by Rs 4.5 to Rs 305.50, Hero MotoCorp by Rs 4.5 to Rs 301.5, Bajaj Auto by Rs 3 to Rs 2.50, Maruti Suzuki by Rs 15.50 to Rs. .2.5, TVS Motor increased by Rs. 12.15 to Rs. 2.15, Eicher Motors increased by Rs. 2.50 to Rs. 12,31.05, Amarraja Batteries increased by Rs. 18.50 to Rs. . The BSE Auto Index rose by 316.5 points to close at 17.8.

In oil and gas stocks, Reliance Industries also saw a decline of Rs 21.50 to Rs 19.50, HPCL rose by Rs 7.5 to Rs 210.5, Petronet LNG rose by Rs 2.50 to Rs 20.05 and BPCL rose by Rs 20.05. 6.50 crore to Rs. 3.50 crore.

IT-software services stocks went offload today after US President Donald Trump threatened to cancel H1B visas. Tech Mahindra fell by Rs 14.5 to Rs 2.10, Wipro by Rs 2.50 to Rs 205, Infosys by Rs 11.50 to Rs 2.10, MindTree by Rs 11.50 to Rs 305.5 , HCL Technology fell by Rs 4.5 to Rs 31.50, TCS fell by Rs 3.10 to Rs 209.50.

Small, mid-cap stocks were seen recovering at marketbroadth while remaining attractive. Out of the total 6 scrips traded on the BSE, the number of gainers was 16 and the number of declines was 16. However, the only seller in 12 stocks was the lower circuit against the upper circuit of the only buyer in 4 stocks.

FII-FPI investors had a net sale of Rs 1,611.5 crore in cash today-Friday. Of this, a total of Rs 31.8 crore was sold against a total purchase of Rs 4.5 crore. Of this, a total of Rs 303.61 crore was sold against a total purchase of Rs 31.8 crore.


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