Sensex fell 237 points as investors continued to sell

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- Flutter of Global Recession: Net sell of Rs.2002 crore in foreign fund stocks

MUMBAI: The spirit of celebrations in China ahead of the Lunar New Year holiday is higher than in 2022, despite expectations of a quick recovery with the re-opening of the Chinese economy, sentiment in stock markets remained subdued over the weekend as there were whispers of a slowdown on the global front. Funds sold off in FMCG stocks after the Indian stock market closed today after Reliance Industries' quarterly results were announced, with a cautious sell-off in stocks ahead of Hindustan Unilever's better-than-expected results despite parent being allowed to hike royalties. Along with this, there was offloading in stocks of metal-mining, automobile, capital goods, consumer durables, healthcare companies. However, funds' selective rally in banking-finance stocks limited the magnitude of the index-based fall. The Sensex fell 236.66 points to 60621.77 and the Nifty spot closed 80.20 points lower to 18027.65. The international prices of crude oil remained strong in the evening, Brent crude was close to 86.60 dollars and New York-Nymex crude was close to 80.55 dollars.

Reliance Industries fell by Rs.28 to Rs.2443 before the results

Reliance Industries Limited's third quarter results fell by Rs 28.40 to Rs 2,442.70 as funds booked profit away from new purchases in the stock amid expectations of a decline in the company's profit compared to the year-ago quarter and overall weak performance amid challenging conditions. Indraprastha Gas increased by Rs.5 to Rs.424.90.

Mood to ease in small, mid-cap stocks over the weekend

Market breadth remained negative with Sensex, Nifty based softening over the weekend as investors continued to book profits in small, mid cap stocks, players disappointed in the pessimistic sentiment today. Out of the total 3639 scrips traded in BSE, the number of gainers was 1498 and the number of decliners was 1983.

DII's net purchase of Rs.1510 crore

Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) sold net shares worth Rs.2002.25 crore in the cash segment on Friday. While DII-domestic institutional investors made a net purchase of Rs.1509.95 crore in the cash segment today.

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