Funds rally led by IT, banking, auto stocks: Sensex rises 320 points to 60942

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The beginning of the pre-budget boom! Continued growth of local funds

Spot Nifty up 91 points to 18118 : IT index up 487 points, Bankex up 368 points : FII/FPIs sell Rs 220 crore net in cash

MUMBAI: After witnessing a prolonged period of correction and volatility in the Indian stock markets, as the pre-budget short-term rally-boom has started, stocks rallied. The market remained bullish today despite the chaos, driven by fantastic results in ICICI Bank, Kotak Mahindra Bank, IDFC First Bank last week along with budget expectations, gains in banking stocks as well as gains in funds in IT-software services, technology stocks and buying in automobile stocks. With the funds, there were indications that the players were preparing to reactivate. Funds also picked up FMCG, oil-gas, consumer durables stocks in anticipation of corporate results. The rally was supported as China's re-opening on the global front eased recessionary risks for the global economy. The Sensex rose 319.90 points to close at 60941.67 and the Nifty spot rose 90.90 points to close at 18118.55. Crude oil prices rallied on expectations of increased demand from China, with Brent trading at $88.22 and Nymax crude nearing $82.14.

IT-software stocks bottomed out? Coforge rose by Rs.258, Persistent by Rs.262, Imudra by Rs.16

After a prolonged period of correction in IT-software services, technology stocks, a broad bounce was seen today as funds, high net worth investors became active again as many stocks are now meeting attractive valuations. Coforge rose by Rs.258.10 to Rs.4358.65, Persistent System rose by Rs.262.30 to Rs.4586.05, Imudra rose by Rs.16.10 to Rs.287.85, Tata Alexi rose by Rs.290.65 to Rs. 6666.20, L&T Technology rose by Rs.90.60 to Rs.3322.55, LTI Mindtree rose by Rs.98.50 to Rs.4368.35 on good results, Emphasis rose by Rs.33.80 to Rs.2059.45, Tech Mahindra Rs.17.30 up to Rs.1065.10, TCS up by Rs.46.55 to Rs.3091.70, Infosys up by Rs.22.35 to Rs.1547.80, Oracle Finserv up by Rs.46.55 to Rs.3091. There were 70. The BSE IT index rose 487.30 points to close at 29951.29.

Bankex up by 368 points: Kotak Bank up on good results: Bandhan Bank up by Rs.11, State Bank up by Rs.8

Banking-finance stocks were buoyed by encouraging quarterly results from banks. Kotak Mahindra Bank's quarterly net profit rose 31 per cent to Rs 19.35 to Rs 1,782.60. ICICI Bank's quarterly profit increased by 34 percent and the stock rose to Rs 871.55. Bandhan Bank increased by Rs.11.15 to Rs.248.20, AU Small Finance Bank increased by Rs.24.70 to Rs.641.05, State Bank of India increased by Rs.8.35 to Rs.600.45, Federal Bank increased by Rs. 1.60 increased to Rs.135.90, HDFC Bank increased by Rs.11.85 to Rs.1672.65. The BSE Bankex index rose 368.32 points to close at 48594.55.

Ashok Leyland, Eicher Motors, Tata Motors rise in auto stocks on vehicle scrip policy appeal

The BSE Auto Index rose 186.72 points to close at Rs 29,295.16 as funds in automobile companies traded lower today on expectations of increased vehicle purchases following the government's decision to scrap vehicles older than 15 years and the decision to scrap older vehicles in various state transport services. . Ashok Leyland rose by Rs.3.20 to Rs.147.30, Eicher Motors rose by Rs.48.95 to Rs.3196.85, Bajaj Auto rose by Rs.50.95 to Rs.3623.95, Tata Motors rose by Rs.5.35 408.45, TVS Motor rose by Rs.11.95 to Rs.981.85, Mahindra & Mahindra rose by Rs.12.70 to Rs.1327.75, Hero Motocorp rose by Rs.26.10 to Rs.2772.95, MRF Rs.649.90 increased to Rs.90,310.

Reliance down Rs 13 to Rs 2430 due to weakness: GAIL, Gujarat Gas, Petronet LNG attract

In oil-gas stocks, Reliance Industries ended last week's results after a 15 percent decline in net profit, with funds selling off by Rs 13.10 to Rs 2,429.60. GAIL India increased by Rs.3.15 to Rs.102.15, Gujarat Gas increased by Rs.9.80 to Rs.470.95, Petronet LNG increased by Rs.3.75 to Rs.226.55, HPCL increased by Rs.4.10 to Rs. .250.35, BPCL rose by Rs.3.05 to Rs.349.50.

Funds, players limited cautious buying in small, mid-cap stocks: 1977 stocks close negative

The week started strong today. While funds in Sensex, Nifty based stocks rallied, funds in small, mid cap stocks, players had limited buying on caution. Market breadth was overall negative with many stocks selling profitably. Out of the total 3831 scrips traded in BSE, the number of gainers was 1666 and the number of decliners was 1977.

Results appeal in FMCG stocks : ShareIndia gains Rs 48 : Hind. Lever, Nestlé grew

Funds in FMCG stocks remained attractive pickers as inflation eased along with corporate results. Share India increased by Rs.48.35 to Rs.1263.45, CCL Products increased by Rs.11.75 to Rs.544.20, Hindustan Unilever increased by Rs.49.45 to Rs.2597.80, Nestle India increased by Rs.203.15 to Rs. .19,402.60, Bannari Aman Sugar rose by Rs.26 to Rs.2776.15, ITC rose by Rs.2.90 to Rs.337.60.

FPIs/FIIs' net sale of Rs.220 crore in cash : DIIs' net purchase of Rs.435 crore

Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) sold net shares worth Rs.219.87 crore in cash segment on Monday. A total of Rs.6023.30 crore was sold against a total purchase of Rs.5803.43 crore. While DII-domestic institutional investors made a net purchase of Rs.434.96 crore in the cash segment today. A total of Rs.5490.43 crore was sold against a total purchase of Rs.5925.39 crore.

The asset-market capitalization of investors in stocks increased by Rs.60 thousand crore to Rs.280.87 lakh crore.

With index based local funds booming in stocks today, funds, investors valuing selected small, mid cap, cash stocks, the aggregate market capitalization of BSE listed companies ie investor wealth increased by Rs.60 thousand crores to Rs.280.87 lakh crores in a single day. .


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