Sensex falls 147 to 59958 as foreign funds sell off volatility in banking, oil stocks

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- Nifty down 37 points: Selective rally in IT, capital goods stocks

MUMBAI - In Corporate India's quarter-end December 2022 results season, the market remained in the negative zone at the end of sustained jitters as foreign funds offloaded in banking-finance, oil-gas stocks against attraction in capital goods stocks led by HCL Technology, positive expectations ahead of Infosys results and Larsen & Toubro. had been Markets continued to soften as Reliance Industries was downgraded and foreign funds eased positions in overvalued emerging markets including India amid reports of a global slowdown. Of course, Sensex, Nifty based markets were down by half as selected funds' automobile stocks as well as cement, FMCG stocks turned lower. The Sensex finally closed down 147.47 points at 59958.03 and the Nifty spot closed down 37.50 points at 17858.20. International prices of crude oil remained moderately strong in the evening with Brent crude at $83.57 and New York-Nymex crude at $78.21.

- Small, Mid Cap, Cautious Funds in Cash Stocks, Retail Investors Selling: 1888 shares closed negative

Sensex, Nifty-based ended the rout today with softening in small, mid-cap, cash stocks, players, funds turned market-wide negative as cautious selling. Out of the total 3652 scrips traded in BSE, the number of gainers was 1612 and the number of decliners was 1888.

- Offloading again in banking-finance stocks: Bandhan Bank, Axis Bank, Kotak Mahindra Bank declined

BSE Bankex fell 254.95 points to close at 47898.05 due to further selling of funds in banking-finance stocks today. Bandhan Bank fell by Rs.5.15 to Rs.239.30, Axis Bank fell by Rs.14.65 to Rs.935.35, Kotak Mahindra Bank fell by Rs.22.75 to Rs.1779.60, ICICI Bank fell by Rs.6.65 Decreased to Rs.861.20, State Bank of India decreased by Rs.1.55 to Rs.595, IndusInd Bank decreased by Rs.3.95 to Rs.1209.30. Along with this, CSB Bank decreased by Rs.4.50 to Rs.247.75, IDBI Bank decreased by Rs.1.20 to Rs.54.30, Star Health decreased by Rs.13.20 to Rs.577.85, Tourism Finance Rs.3. 25 was reduced to Rs.90.75.

- Shares fell 8 percent by Rs 45 to Rs 535 as Alibaba's holdings were sold in a block deal in Paytm-One97 Comm.

The stock tumbled today by 8 per cent or Rs 44.75 to Rs 534.75 amid reports that Chinese giant Alibaba, which has holdings in PTM-One97 Communications Ltd, has sold its holdings in block deals.

- Downgraded Reliance by Rs.53 to Rs.2472 : HPCL, IOC, BPCL down.

Funds in oil-gas stocks also sold again today. The stock traded down Rs 53.40 to Rs 2,472.10 amid reports of Reliance Industries being downgraded. HPCL fell by Rs.6.70 to Rs.249.65, Indian Oil Corp fell by Rs.1.85 to Rs.81.60, BPCL fell by Rs.7.70 to Rs.344.95, Gujarat Gas fell by Rs.4.20 to Rs. .466.80, Petronet LNG fell by Rs.1.30 to Rs.219.10. While Adani Total Gas increased by Rs.30.80 to Rs.3650.85. The BSE Oil-Gas Index fell 209.83 points to close at 20509.60.

- FPIs/FIIs net sale of Rs.1662 crore in cash : DIIs' net purchase of Rs.2127 crore

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs had a net sale of Rs.1662.63 crore shares in cash segment today-Thursday. A total of Rs.10,370 crore was sold against a total purchase of Rs.8707.37 crore. While DII-domestic institutional investors made net purchases of Rs.2127.65 crore in the cash segment today. A total of Rs.3960.20 crore was sold against a total purchase of Rs.6087.85 crore.


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