The Sensex fell 236 points to 43,357 despite several stimulus announcements

(Gujarat News Correspondent) Mumbai, Ta. 12 November 2020, Thursday

Amidst the progress being made in the search for vaccines around the world amid the Corona epidemic, the Modi government today announced a stimulus of Rs 4.5 lakh crore in a commendable Self-Reliant India 5.0 package to Finance Minister Nirmala Sitaram. The record-breaking rally was halted today as the overbought position in Indian stock markets eased, despite the announcement of credit guarantee support for stressful sectors and incentives, including a self-sufficient India employment scheme. The Finance Minister today announced income tax reliefs for home buyers and real estate developers, including a special EPF scheme for new hiring units. Moody's forecasts for India's GDP growth at 2050 per cent have been raised by funds in anticipation of a rapid recovery in the coming days as the economy recovers, citing commendable efforts to boost sentiment by presenting statistical evidence and boosting sentiment in various markets during the Diwali festivities. On the other hand, profit-booking of large banking-finance funds was seen despite a 7.5 per cent decline. Off-loading in banking and finance stocks fell by 7.5 points to close at 3.15 and Nifty spot by 1.6 points to close at 120.50 against offtake in FMCG, Capital Goods, Automobile and Pharma stocks.

Sensex breaks eight-day record high

Trading started today with the expected softness. State Bank of India, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, Axis Bank, HDFC Bank along with Reliance Industries, NTPC, ONGC, ONGC, ONGC Asian Paints, Maruti Suzuki, Bajaj Auto, among others, fell to a one-time low of 214.5, while FMCG stocks including Hindustan Unilever, ITC, Lavali and Larsen & Toubro, Bajaj Finance, Sun Pharma, Sun Pharma, Mahindra Ltd., including Tech Mahindra, digested the partial decline and finally fell 2.4 points to close at 8.15.

Nifty spot breaks bullish: loses 1200 level to 17 lows

NSE's Nifty spot opened at 1,407.15 against the previous close of 19.15. From the outset, the sell-off in banking-finance stocks including State Bank of India, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, Axis Bank, HDFC Bank ONGC, TCS, Dr. Reddy's Laboratories, Adani Ports, JSW Steel, Maruti Suzuki, UPL, Wipro, HCL Technology, Power Grid Corp., NTPC, among others, saw their sales fall to 18.5 per cent. Cement, Hindalco, Larsen & Toubro, HDFC Life, Eicher Motors and Tech Mahindra were able to partially absorb the gains and then fell 3.4 points to close at 120.50.

November Nifty futures fall from 12.5 to 16,305: Bank Nifty futures fall from 9,415 to 6,710

Funds eased further bullish positions today after the Nifty-based rally in derivatives eased its bullish trade yesterday. The Nifty November futures opened at 19,610.05 against 16,8.05, fell to 17,9.5 at the top and closed at 12,205.5. The Bank Nifty November futures opened at 9,6.5 against 8,612.50, fell to 7,40.5 from the top and fell to 7,09.50, ending at 5,610.

Bankex down 3 points: Profit booking in stocks: State Bank, Citi Union, HDFC Bank, Axis Bank, Federal

The BSE Bankex Index fell 4.5 points to close at 4.5 as profit-booking started today after the stock-banking surge over the last few days. HDFC Bank down Rs 19.50 to Rs 121.50, Citi Union Bank down Rs 2.50 to Rs 19.50, Axis Bank down Rs 2.50 to Rs 2.50, RBL Bank down Rs 2.15 Federal Bank down Rs 305.50, Federal Bank down Rs 1.50 to Rs 4.5, ICICI Bank down Rs 10.50 to Rs 2.50, IndusInd Bank down Rs 15 to Rs 3.15, Kotak Mahindra Bank down State Bank of India fell by Rs 2.50 to Rs 3.50, down Rs 4.5.

Armaan Fin, BOB, SBI Card, Shriram Transport, LIC Housing, Motilal Oswal, Muthoot Fin declined

Even in finance stocks, the funds were sold at a partial profit today. Armaan Fin fell by Rs 4.5 to Rs 2.50, Bank of Baroda by Rs 1.5 to Rs 2.50, SBI Card by Rs 2.5 to Rs 21.10, Canara Bank by Rs 4.5 Shriram Transport Finance down Rs 31.20, AU Bank down Rs 12.5 to Rs 5, LIC Housing Finance down Rs 2.50 to Rs 219.05, Muthoot Finn fell by Rs 4.5 to Rs 3.05, Motilal Oswal by Rs 2.50 to Rs 2.50, Awas by Rs 31.50 to Rs 19.50.

FMCG stocks rise: SH Kelkar, Hindustan Uni, ITC, BBTC, advance enzymes rise

The BSE FMCG Index rose 19.05 points to close at 11,9.15 as funds were selected in FMCG stocks today. SH Kelker jumped Rs 13.5 to Rs 105.5, Kokuyan Camlin rose Rs 2.50 to Rs 3, BBTC rose Rs 20.5 to Rs 19.50, Advance Enzyme rose Rs 17.5 to Rs. 4.5, Heritage Foods increased by Rs 3.50 to Rs 4.5, Vishwaraj increased by Rs 3 to Rs 115.50, Hindustan Unilever increased by Rs 31.50 to Rs 318.50, Tasty Bite increased by Rs 206.5 10,600, ATFL rose by Rs. 18.5 to Rs. 316.5, Awadh Sugar rose by Rs. 2.50 to Rs. 19.50, Nestle India rose by Rs. 18.5 to Rs. 18,312.10, ITC rose by Rs 4.5 to Rs 12.50.

In capital goods stocks, Adani greens jumped Rs 5 to Rs 21: Lakshmi Machine rose Rs 15 to Rs 20: Siemens, Larsen rose

The BSE Capital Goods Index rose by 206.11 points to close at 12.3.5 today on the back of a selection of funds and experts in capital goods stocks. Adani Greens jumped Rs 4.5 to Rs 31.10, Lakshmi Machine Works rose Rs 15.05 to Rs 20.5, HAL rose Rs 4.5 to Rs 4.5, Siemens rose Rs 2.50 to Rs 1,409.50, ABB rose by Rs 13.5 to Rs 30.50, Larsen & Toubro rose by Rs 13.5 to Rs 104.5.

Attractions in healthcare stocks: Aster, Stride, P&G Health, Aarti Drugs, Aurobindo Pharma, Hester Bio, Suven Rise

Shares of healthcare-pharmaceuticals companies continued to pick up funds today. Aster DM Healthcare rose by Rs 12.50 to Rs 19.50, Strides Pharma Science jumped by Rs 2.50 to Rs 4.5, Caplin rose by Rs 4.5 to Rs 4.5 and Suven rose by Rs 4.5. Rs 2.15, P&G Health up Rs 4.5 to Rs 2.50, Aarti Drugs up Rs 21.15 to Rs 4.5, Gufik Bio up Rs 2.15 to Rs 15, Aurobindo Pharma Rs 4.50 increased to Rs 4.5, FDC increased by Rs 2.50 to Rs 3.50, Ipka Lab increased by Rs 4.5 to Rs 205.50, AstraZeneca increased by Rs 115.50 to Rs 319. 20, Torrent Pharma was up by Rs 31.50 to Rs 314.5, Cadilla was up by Rs 4.5 to Rs 3.10.

Selective rally in auto stocks: Cummins, Exide, Balakrishnan, Amar Raja, MRF, Hero, MRF

Automobile stocks were selectively bullish today as the passenger and tractor purchases of vehicles increased during the festive season. Cummins India up Rs 2.50 to Rs 5, Exide up Rs 2.50 to Rs 120.50, Balakrishna Industries up Rs 4.5 to Rs 15, Amarraja Batteries up Rs 12.5 Rs 2.7 crore to Rs 5,905.50, Motherson Sumi Rs 1.50 to Rs 19.50, Hero MotoCorp Rs 2.8 to Rs 206.5, Eicher Motors Rs 19.15 2.50.

Funds, investors' small, mid-cap, cash stocks rise: 12 stocks close positive: 50 stocks

Marketbread remained positive as Sensex-Nifty-based softness continued to be favored by small, mid-cap, cash-strapped funds, high networth investors. Out of the total 8 scrips traded on the BSE, the number of decliners was 16 and the number of gainers was 114. The only seller in 203 stocks was the lower circuit, while the only buyer in 20 stocks was the upper circuit.