Sensex rose 403 points to 62533

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MUMBAI: Despite China postponing an important economic policy review meeting as a result of a resurgence of Covid cases, and on the other hand, despite clashes along India's Arunachal border with China, global markets saw strength today with Dow Jones up 529 points and Nasdaq up 139 points yesterday in US stock markets. Funds led the banking-finance stocks with a stormy rally today as India now signaled faster pace of economic reforms to accelerate disinvestment in PSU banks. Among the banking-finance stocks, funds in particular PSU banks were attractive.

While funds in overbought positions in IT-Software Services, technology stocks took the opportunity of valuing with short covering and selective buying in automobile, capital goods stocks, the Sensex finally increased by 402.73 points to 62533.30 and the Nifty spot increased by 110.85 points to close at 18608. Of course, international crude oil prices rose by 1.01 dollars to 79 dollars in the evening and New York-Nymex crude oil increased by 76 cents to 73.93 dollars in the evening in a reactionary correction amid the estimates of the world's demand for crude oil in the coming days. The Indian rupee today weakened by 28 paise to 82.80 against the US dollar.

Purchase of Rs.620 crore in Khanj/Khain shares

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs had a net purchase of Rs.619.92 crore shares in cash segment today-Tuesday. A total of Rs.9055.17 crore was sold against a total purchase of Rs.9675.09 crore. While DII-domestic institutional investors made a net purchase of Rs 36.75 crore in the cash segment today. A total of Rs.4896.62 crore was sold against a total purchase of Rs.4933.37 crore.

Reduced attractiveness in small, mid cap stocks

Market breadth remained positive in small, mid-cap, cash stocks today with the preferred attraction of hedge funds, sportsmen, high net worth investors. Out of the total 3669 scrips traded in BSE, the number of gainers was 1860 and the number of decliners was 1671.

Investors' wealth increased by Rs.1.60 lakh crore

Investors' wealth i.e. aggregate market capitalization of shares of BSE listed companies increased by Rs.1.60 lakh crore to Rs.290.01 lakh crore in a single day today with broad rally in stocks.

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