Sensex rose 92 points to 61510

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Mumbai: With the cases of Corona in China reaching a record level, due to strict control measures including lockdown in Beijing, the market remained in the positive zone due to the attraction of local funds in banking, financial services stocks in the Indian stock markets today against caution in the global markets amid the flutter of the global recession. Against the negative news from China, crude oil stocks in the US decreased and the supply from Russia became uncertain, with crude oil prices rising, Asian markets were strong today. Banking-finance stocks along with funds in PSU companies and fertilizer stocks led the Indian stock market. While selected automobile, metal-mining, oil-gas, healthcare stocks remained attractive. But the initial surge was washed away by profit booking as funds again cautiously refrained from taking big bullish trades on the bounce. The Sensex ended up 91.62 points at 61510.58 and the Nifty spot closed up 23.05 points at 18267.25.

Bankex rises 324 points: Federal Bank, State Bank, BOB, Kotak Bank, Bandhan Bank rise

The BSE Bankex index rose 323.56 points to close at 48827.25 due to widespread buying by local funds in banking stocks. Federal Bank increased by Rs.2.90 to Rs.134.35, State Bank of India increased by Rs.8.65 to Rs.607.75, Bank of Baroda increased by Rs.2 to Rs.168.80, AU Small Finance Bank increased by Rs.6 .15 increased to Rs.623.70, Kotak Mahindra Bank increased by Rs.13.85 to Rs.1953.40, ICICI Bank increased by Rs.4.15 to Rs.927.

Boom in finance stocks Fino Payments up Rs 38 to Rs 230: Edelweiss, Hudco, PNB rise

Finance and other banking stocks were also heavily bought by funds, maharathis today. Fino Payments increased by Rs.38.45 to Rs.230.70, Edelweiss by Rs.3.75 to Rs.63.50, Hudco by Rs.2.60 to Rs.50.80, Centrum Capital by Rs.1.25 to Rs. 24.70, PNB rose by Rs.2.20 to Rs.50.35, Prudent Advisor rose by Rs.35.85 to Rs.841, Religare Enterprises rose by Rs.7.25 to Rs.175.60, Equitas Holding rose by Rs.4.20 Up to Rs.106.85, Ujjivan Small up by Rs.1 to Rs.28.60, Ujjivan Financial up by Rs.8.95 to Rs.307.40, Can Fin Home up by Rs.12.60 to Rs.526.50, MCX India It increased by Rs.29.35 to Rs.1535.05, Canara Bank increased by Rs.6.45 to Rs.325, IIFL Finance increased by Rs.6.80 to Rs.469.75.

Strength in metal stocks: JSW Steel, SAIL, NALCO, Hindalco, Tata Steel attract funds

Metal-mining stocks have been a favorite attraction of funds since the abolition of duties on steel exports. JSW Steel increased by Rs.11.85 to Rs.720.20, SAIL increased by 90 paise to Rs.83.15, Nalco increased by Rs.74.35, Coal India increased by Rs.1.50 to Rs.230.60, Hindalco increased by Rs.2. 10 increased to Rs.433.25, Tata Steel increased by Rs.105.60, Jindal Steel increased by Rs.1.85 to Rs.525.45. Profit booking fell by Rs 2.20 to Rs 307.85 after the announcement of third interim dividend of Rs 17.50 per share in Vedanta today.

Paytm breaks further to make a low of Rs.440 and finally falls to Rs.452: Continued erosion in new age tech stocks

The entry of Reliance Industries into the financial services business through the Jio platform and the demerging and listing of financial business companies by Reliance for this was announced at the time of announcing the second quarter results. As a result, the share of Paytm made a new low of Rs.440.35 today and finally fell by Rs.24.80 or 5.20 percent to Rs.452.30. Along with this, there was continuous selling in other new age technology stocks as well.

PSU, Fertilizer stocks rally: RCF, GSFC, National, Railtel, Rail Vikas rise

Funds rallied aggressively today in stocks of PSU-public enterprises and stocks of fertilizer companies. RCF rose by Rs.12.15 to Rs.116.40, National Fertilizer rose by Rs.4.95 to Rs.56.45, GSFC rose by Rs.8.30 to Rs.129, GNFC rose by Rs.32.15 to Rs.623.95. , Chambal Fertilizer rose by Rs.12.30 to Rs.297.15. Along with this, among the shares of other PSU companies, Railtel increased by Rs.11.45 to Rs.143.60, Rail Vikas Nigam increased by Rs.5.75 to Rs.63.70, Ircon increased by Rs.4.60 to Rs.61.55, HUDCO increased by Rs. 2.60 increased to Rs.50.80, MMTC increased by Rs.2.10 to Rs.37.50, MTNL increased by Rs.1.50 to Rs.22.80.

Fraudulent bubble in small, mid cap stocks: Offloading of funds on the rise: 1850 stocks close positive

Small, mid-cap stocks showed a deceptively buoyant rise in selective stocks today as short funds, valuation players. As a result the market breadth turned partially positive today. Of course the funds, the players were showing this deceptive fluff and selling the stocks at every bounce. Out of the total 3627 scrips traded in BSE, the number of gainers was 1850 and the number of decliners was 1647.

FPI/FII's net sale of Rs.790 crore in cash : DII's net purchase of Rs.414 crore

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs had a net sale of Rs.790 crore shares in cash segment today-Wednesday. A total of Rs.8020.99 crore was sold against a total purchase of Rs.7231.13 crore. While DII-domestic institutional investors made net purchases of Rs.413.75 crore in the cash segment today. A total of Rs.5710.23 crore was sold against a total purchase of Rs.6123.98 crore.


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