Profit booking Sensex fell 580 points to 43600

(Gujarat News Correspondent) Mumbai, Ta. Thursday, November 19, 2020

The second-third wave of global corona transition has begun. With global cases of global lockdown taking place in the wake of growing cases in the US, Europe and Asia, local funds are backing a global boom in global markets. Index-based gaps fell as stocks outperformed their overbought positions. On the global front, trading in Indian stock markets started with a softening in the markets of Europe, America and Asia. Of course, the retreat started after the Sensex rose to a new high of 20 and the Nifty rose to a new high in a deceitful rally. Despite claims by vaccine research companies that corona vaccine research is yielding good results in various countries to prevent coronavirus infection, there is still a crisis of confidence in the matter and the US and European markets are softening today amid concerns that the vaccine may not be 100% successful. With the overbought position in Indian stock markets easing in special banking-finance stocks, the Sensex fell by 20.05 points to close at 6.4 and the Nifty spot fell by 12.5 points to close at 12,312.50. The US dollar had gained 7 paise to Rs 2.7 against the rupee. International crude oil prices were also down, with Brent crude falling 3 cents to ૪૩ 2.8 and Nymex crude falling 3 cents to close at ૨૬ 21.8 in the evening trade.

Sensex rebounds 30 points in early trade after initial softening

Trading started today with caution behind global markets. The 30-share barometer Sensex opened lower at 7,303.5 against the previous close of 7,150.05 and fell to a low of 7 on profit-booking in banking-finance stocks with Reliance Industries and Bharti Airtel. As a result of the decline, the fund's FMCG stocks including ITC, Nestle India, Hindustan Unilever, TCS, Tata Steel, Titan Company, Bajaj Finserv, NTPC, among others, rose to 20 new records. In the last hour, banking-finance stocks, including State Bank of India, Axis Bank, HDFC Limited, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC Bank, Kotak Mahindra Bank, Offloading and Tech Mahindra, Bharti The sell-off fell to a low of 215.11, falling by 20.05 points to close at 7.5.

Nifty spot made 18 new histories after initial caution

The NSE's Nifty spot opened at 19.3.20 against the previous close of 17.3.5 and came to 18 in the initial caution. From the downturn, attractions including Tata Steel, TCS, Titan, Nestle India, ITC, Power Grid Corp, NTPC, Britannia rose to a new record high of 14 and returned to banking-finance stocks with large offloading and Coal India Steel, JT HDFC Life, Hindalco, Eicher Motors, Adani Ports, Bharti Airtel, Shree Cements, Asian Paints, UPL, among others, fell by 12.5 points to close at 12,31.20.

Funds eased overbought position in Nifty: Bank Nifty futures fall from 7.5 to 7.5

Nifty-based funds today eased their overbought position in derivatives. The Nifty November futures opened at 13,8.50 against 17,8.5, fell to 14,9.5 and reached 12,9.5 at the end of the day. The Bank Nifty November futures opened at 9,5.20 against 7,9.50, fell to 7,705 and fell to 7,20, ending at 9,6.

Technically Nifty Near Trend Downward Reversal: Closed above 12.5 for new long position required: 15 support

Technically the near trend in the Nifty spot is now downward reversal. The new long position in the Nifty in the near term is shown to be taken only after the Nifty spot closes above 12. While strong support level is being shown as 12.5.

Banking stocks rebound: Federal, State Bank, RBL, Axis, ICICI, HDFC Bank

In banking stocks today, funds carried out extensive offloading as if the bullish trade had begun to falter. Federal Bank down Rs 2.50 to Rs 2.50, State Bank of India down Rs 19.50 to Rs 4.5, RBL Bank down Rs 2.50 to Rs 211.5, Axis Bank down Rs 5 Rs 911.50, ICICI Bank down Rs 12.10 to Rs 4.5, Citi Union Bank down Rs 4.5 to Rs 131.50, Bandhan Bank down Rs 2.10 to Rs 4.5, HDFC Bank Bank fell by Rs 2.50 to Rs 19.50, IndusInd Bank fell by Rs 10.50 to Rs 219.50 and Kotak Bank fell by Rs 4.5 to Rs 121.50. The BSE Bankex Index fell 2.4 points to close at 8,304.5.

Extensive sell-off in finance stocks too: Lakshmi Vilas Bank, IIFL, BF Invest, Canfin, Care ratings down

Funds were also widely sold in finance stocks today. Disappointed with the decision to merge Lakshmi Vilas Bank with DBS Bank, the stock continued to fall in the lower circuit by Rs 4.5 to Rs 4.5, IIFL Finance fell by Rs 2.50 to Rs 119.5 and BF Invest fell by Rs 12.50 to Rs. 3, Canfin Home fell by Rs 20.05 to Rs 2.15, Care rating fell by Rs 19.10 to Rs 4, Spandana fell by Rs 2.50 to Rs 2.10, L&T Finance Holdings fell by Rs 4. 20 fell to Rs 21.5, Muthoot Fin fell by Rs 19.10 to Rs 4.5, ICICI Prudential fell by Rs 15 to Rs 21.05, HDFC Life fell by Rs 16.05 to Rs 4.05, Bajaj Finance HDFC AMC fell by Rs 141.50 to Rs 2.10, HDFC AMC fell by Rs 2.50 to Rs 2.50, HDFC Ltd fell by Rs 2.50 to Rs 2.50.

Profit booking in healthcare stocks: Granules, Piramal Enter, Haykal, FDC, Eris, Vimata, Fermenta, Unichem declined

Funds were to be sold profitably in shares of healthcare-pharmaceuticals companies. Granules India fell by Rs 12.50 to Rs 2.50, Piramal Enterprises fell by Rs 21.50 to Rs 19.50, Hikeal fell by Rs 3.05 to Rs 150, FDC fell by Rs 4.5 to Rs 21. 20, Eris fell by Rs 16.05 to Rs 205, Fermenta fell by Rs 2.50 to Rs 219.50, Torrent Pharma fell by Rs 4.5 to Rs 2.15, Lalpath Lab fell by Rs 20.50 to Rs. 319, JB Chemicals fell by Rs 11.50 to Rs 21.5, Thyrocare fell by Rs 19.15 to Rs 4.5.

Consumer durables stocks rise: Blue Star, Oriental Electric, Crompton, Whirlpool, Titan, Voltas rise

Shares of consumer durables companies were up today amid reports of good demand for consumer durables during the festive season. Blue Star rose by Rs 12.5 to Rs 30.5, Orient Electric by Rs 2.50 to Rs 4.5, Crompton by Rs 2.15 to Rs 300.15, Whirlpool by Rs 4.5 to Rs. 215, Titan rose by Rs 13.5 to Rs 12.50, Voltas by Rs 2.50 to Rs 5, Symphony by Rs 3 to Rs 20.10. The BSE Consumer Durables Index rose by 12.5 points to close at 8.2.5.

Attraction in IT-Telecom stocks: TV12, Tata Comm., TCS buyback approval, Coforge, Idea rise

IT-Software Services, Telecom, Media stocks were the favorites today. TV18 Broadcast increased by Rs 1.5 to Rs 30.50, Tata Communications increased by Rs 15.50 to Rs 1,002.50, Sun TV increased by Rs 3.10 to Rs 21.50, Share buyback in TCS 11.15 crore to Rs.

Selective rise in capital goods stocks: Graphite, BEL, Carborendum, Lakshmi Machine, Finolex Cables, Thermax

Capital goods-power stocks were the favorites today. Graphite increased by Rs 2.50 to Rs 311.5, BEL increased by Rs 7.5 to Rs 105.10, Carborundum increased by Rs 12.5 to Rs 4.5, Lakshmi Machine Works increased by Rs 12.5 to Rs. 30.05, Thermax was up by Rs. 12.50 to Rs. 2.15, Bharat Forge was up by Rs. 10.5 to Rs.

Small, mid-cap stocks start offloading: Marketbroadth Negative: 12 stocks close negative, 8 stocks bullish circuit

Marketbroadth was negative as small, mid-cap, cash stocks started selling broadly today. Out of the total 6 scrips traded on the BSE, the number of decliners was 16 and the number of gainers was 16. The only seller in 13 stocks was the lower circuit against the bullish circuit of only buyers in 6 stocks.

FPIs / FIIs make a net purchase of Rs 1,150 crore in cash: DIIs sell net worth of Rs 5 crore in cash

FIIs - Foreign Institutional Investors - Foreign Portfolio Investors - FPIs made a net purchase of Rs 1,160.31 crore in cash today-Thursday. Of this, a total of Rs 21.5 crore was sold against a total purchase of Rs 10,9.08 crore. Meanwhile, DII-domestic institutional investors had a net sale of Rs 4.5 crore in cash today. A total of Rs 4,015.01 crore was sold against a total purchase of Rs 417.08 crore.