The Sensex's 777-point rally finally washed out

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(Gujarat News Correspondent) Mumbai, Ta. 15 July 2020, Wednesday

In contrast to the strength in global markets, Indian stock markets bounced back today. Addressing the first virtual 9th ​​AGM of Reliance Industries held today, focusing on Digital India, self-reliant India, Reliance Industries Chairman and Mukesh Ambani The Sensex-Nifty-based initial rally was washed away by Reliance today on the negative impact of accepting Shakya. Funds tightened the overbought position in stocks as a sign of a relaunch AGM today, as the fight against the Corona epidemic dragged on and the worrisome rise in the number of Corona virus cases around the world again posed a challenge. Of course, behind the quarterly results on Digital India, including Fox and Wipro, funds in IT-Software Services stocks today saw a bigger erosion than an aggressive rally. The Sensex, which had gained 7 points in the previous session, rose by 12.5 points to 20,021.31 and the Nifty spot, which had gained 20 points at the end of the day, rose 10.4 points to close at 10,412.50. The US dollar had lost 7 paise to Rs 3.15 against the rupee today. International crude oil prices strengthened modestly amid signals of production control by OPEC countries, with Brent crude rising 5 cents to ૪૩ 4.5 a barrel and Nymex crude rising 3 cents to close at ૭૭ 20.8 a barrel in the evening.

Sensex IT stocks, led by Reliance, jumped 3 points at the beginning and finally washed away at Reliance 203

Trading started strong today. The Sensex opened at 219.5 against the previous close of 209.05, before the start of Reliance Industries' AGM. Attractions and IT stocks led to large purchases of funds in Wipro, Infosys, TCS, Tech Mahindra At Mahindra & Mahindra, Levali and Axis Bank, Sun Pharma, Ultratech Cement, NTPC, among others, jumped 2.15 points at a time to reach 610.5. With the completion of Reliance's AGM, no major announcements were made in the retail business sector and the deal with Saudi Aramco could not go ahead as scheduled, said Mukesh Ambani, as funds began to sell and sales in ONGC and telecom stocks, including Bharti Airtel, skyrocketed. At the end of the day, it had increased by 12.5 points and closed at 2021.21.

Nifty spot surges 11 points after initial 30-point gain

NSE's Nifty spot opened at 10,601 against the previous close of 10,601.9. Attractions including Suzuki, Cipla, Hindalco rose by 20.10 points at one point to 104.5, after a big profit booking in Reliance Industries and a sell-off in telecom, oil-gas stocks and banking-finance stocks. It had risen by 3 points to close at 10,412.50.

New India Ka Naya Josh: Reliance surges, shocks: Rs 15.50 initially makes history with new heights

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, today at the 8th Virtual AGM of Reliance Industries, with the focus on 'New India Ka Naya Josh' Digital India, announced the launch of Make in India Geo, dedicated to the vision of self-reliant Prime Minister Narendra Modi. Google has announced an agreement to buy a 7.5 per cent holding by investing Rs 4.5 crore in the platforms. In a short span of time, the announcement of global investors investing more than Rs 1,8,000 crore in Geo platforms had a positive impact on the stock. The stock initially opened at Rs 19.50 against the previous close of Rs 1915.9 and set a new high of Rs 12.50. As the AGM speech progressed, strategic global partners in the petrochemicals business were announced and regrets that the deal with Saudi Aramco did not move forward in time. The stock plunged to a low of Rs 1,200 at a time when large profits were booked. At the end of the day, it fell by Rs 21.05 to close at Rs 12.50.

Digital India Fox takes IT stocks by storm: Infosys, HCL Technology, TCS, Tech Mahindra

Funds made an aggressive take on IT-software services stocks today amid signs that the country is now opening up opportunities for massive growth in the field of IT technology, startups, with Reliance Industries launching Digital India Fox and New India Ka Naya Josh. The BSE IT index jumped by 30.12 points to close at 1911.8. Infosys jumped Rs 4.5 to Rs 21.5, HCL Technology jumped Rs 2.50 to Rs 219.50, TCS rose Rs 21.5 to Rs 4.5, Tech Mahindra jumped Rs 15.5 to Rs. 215.50, Sterlite Technology rose by Rs. 18.5 to Rs. 131.5, NIIT Technology rose by Rs. 16.10 to Rs.

Reliance's Five-G solution sells funds in rival telecom stocks: Idea, Vodafone, Bharti Airtel down

Shares of other rival telecom operators were sold after Reliance Industries announced at the AGM today that the company had developed a Five-G solution in the Indian telecom sector for the first time in the country. Idea Vodafone was down 3 paise at Rs 4.5, Bharti Airtel was down Rs 4.5 at Rs 2.15 and Infratel was down Rs 2.50 at Rs 209.10.

Auto stock picks up: TVS Motor, Bajaj Auto, Exide, Hero MotoCorp, Mahindra, Maruti

The choice of funds was taken in automobile stocks today. TVS Motor up Rs 2.50 to Rs 5, Bajaj Auto up Rs 20.5 to Rs 20, Exide Industries up Rs 9.10 to Rs 19.50, Hero MotoCorp up Rs 2.50 to Rs 5 Mahindra & Mahindra rose by Rs 4.5 to Rs 21.5, Maruti Suzuki by Rs 2.50 to Rs 4.5.

FMCG stocks attract: Everreddy, Gujarat Ambuja Exports, Hindustan Unilever, ITC, Zydus rise

Funds were also selected in FMCG stocks today. Shares of Everreddy Industries rose by Rs 3.50 to Rs 2.50, Gujarat Ambuja Exports by Rs 2.50 to Rs 19.05, after the announcement that the Burman family had bought a holding of 2.7 per cent and increased its holdings to 12.5 per cent. Zydus Wellness rose by Rs 4.5 to Rs 19.05, ITC by Rs 2.50 to Rs 19.50, Hindustan Unilever by Rs 31.5 to Rs 4.5.

Extensive profit booking in small, mid cap stocks: 4 stocks bearish lower circuit: 12 stocks close negative

Market breadth remained negative today as small, mid-cap and cash stocks continued to make profit bookings, with the Sensex-Nifty-based uptrend. Out of the total 9 scrips traded on the BSE, the number of decliners was 16 and the number of gainers was 104. The only seller in 4 stocks was the bearish lower circuit while the only buyer in 8 stocks was the bullish upper circuit.

Net sales of Rs 3 crore in FPIs / FII cash segment and Rs 5 crore in DII stocks

FIIs - Foreign Institutional Investors, Foreign Portfolio Investors - FPIs today saw a net sale of Rs 21.50 crore in cash. Of this, a total of Rs 4.5 crore was bought and a total of Rs 201.1 crore was sold. On the other hand, DII-domestic institutional investors today saw a net sale of Rs 2.5 crore worth of shares in the cash segment. Of this, a total of Rs 206.5 crore was sold against a total purchase of Rs 216.15 crore.

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