Sensex rose 104 points to 59307

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Mumbai: Samvat 2078 departed today with a broad boom in the Indian stock markets, giving good returns to investors. In the last few days, Foreign Portfolio Investors (FPIs) again became consistent buyers of stocks and bullied aggressively in banking stocks, keeping Sensex, Nifty in the positive zone. Corporate India's second quarter results ending September 2022 had an overall positive impact on the market. In stocks, the asset-market capitalization of investors has increased by Rs.11.30 lakh crore in one year in Samvat 2078. Thus despite Sensex, Nifty being comparatively negative in Samvat 2078, the market sentiment has been bullish as a result of rally in several other stocks in the market leaving the index stocks. Market remained in positive zone led by banking stocks led by aggressive rally in private bank stocks as funds jumped 70 percent in gains in banking frontline stocks especially Axis Bank. Of course, before Reliance Industries' quarterly results were announced in the evening, the offloading of funds took place despite weakness in Reliance shares and good results in Bajaj Twins Finance shares. There was profit booking by funds, players in small and mid cap stocks as well. Sensex rose 104.25 points to 59307.15 and Nifty spot rose 12.35 points to close at 17576.30.

Selling in finance stocks; Bajaj Finance, UTI, PNB Housing, Poonawalla Gabadaya

There was widespread selling of funds, players in finance stocks today. Despite the good results of Bajaj Finance, shares fell by Rs.237.40 to Rs.7191.85, Bajaj Finserv by Rs.41.25 to Rs.1684, SBI Card by Rs.20.90 to Rs.865.70, UTI AMC by Rs.37. 25 down to Rs.754.40, CSB Bank down by Rs.17.25 to Rs.233, Paisalo Digital down by Rs.5.05 to Rs.85.75, Mahindra Finance down by Rs.6.10 to Rs.206.10, PNB Housing Finance fell by Rs.16.95 to Rs.427.15, PB Fintech fell by Rs.22.50 to Rs.378.50.

As a result of Axis Bank's incentive, Rs.74 jumped to Rs.900; ICICI Bank, Kotak Bank rose

In banking stocks, private bank stocks saw aggressive fund buying as a result of Axis Bank's bullishness. In Axis Bank's quarterly results announced yesterday, net profit rose by 70 per cent to Rs 900.25 on the back of massive fund buying in stocks. ICICI Bank increased by Rs.18.90 to Rs.907.15, Kotak Mahindra Bank increased by Rs.38.30 to Rs.1902.90, Bank of Baroda increased by Rs.2.75 to Rs.143.55, State Bank of India increased by Rs. 5.40 increased to Rs.560.80.

Reliance fell by Rs.29 to Rs.2472 before declaration of results; Grindwell, ABB, Siemens declined

Ahead of Reliance Industries Ltd's second quarter results in the evening, the stock closed Rs 28.95 lower at Rs 2471.95 amid cautious selling amid expectations of a 12 percent growth in the company's consolidated sales. Gujarat Gas increased by Rs.17.65 to Rs.501.70, ONGC increased by Rs.1.80 to Rs.131.50. There was an overall sell-off in capital goods stocks. Grindwell Norton fell by Rs.87.30 to Rs.2019.55, ABB India fell by Rs.95.90 to Rs.3037.55, Siemens fell by Rs.62.05 to Rs.2813, Teamcan fell by Rs.50.20 to Rs.3004 were

FIIs' net purchases of Rs.438 crore in cash; DII's net sales of Rs.119 crore

Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) made a net purchase of Rs.438 crore worth of shares in the cash segment today-Friday. A total of Rs.8618 crore was sold against a total purchase of Rs.9057 crore. While DII-domestic institutional investors made a net sale of Rs.119 crore in the cash segment today. A total of Rs.5278 crore was sold against a total purchase of Rs.5159 crore.

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