Sensex rose 170 points to 60300

MUMBAI: Nifty and Sensex based volatility resumed today ahead of the April trend in futures and options (F&O) ending tomorrow on Thursday. After a weak start to trading in the index based market, the market took a U-turn as foreign funds bought into capital goods, power, automobile, banking-finance, FMCG stocks with short covering. In contrast to the softness in the global markets, Indian stock markets moved into the positive zone as foreign funds revalued stocks against profit booking by local funds. The US On the other hand, activity of foreign funds was seen to decrease due to the doldrums overshadowed by the report showing that the Federal Reserve will raise the interest rate at the next meeting and on the other hand the report of global recession. The international prices of crude oil were also in favor of reduction in the evening, Brent crude was close to 80.56 dollars and Nymax-New York crude was close to 77.24 dollars. In the global markets, the Dow Jones index fell by 344 points and the Nasdaq index by 238 points. The rupee strengthened by 15 paise against the US dollar today to close at 81.76.

Siemens rose by Rs.119, ABB rose by Rs.58

In capital goods stocks today, the BSE Capital Goods Index rose 353.74 points to close at 35849.56 as funds continued to buy frontline stocks. The stock gained Rs 27.20 to Rs 2,275 on reports that Larsen & Toubro had emerged as the lowest bidder for the construction of twin tunnels between Thane and Borivali and that the order for the project was worth Rs 15,000 crore. Siemens rose by Rs.119.30 to Rs.3448.80, ABB India rose by Rs.58.60 to Rs.3395.55, Grindwell Norton rose by Rs.28.50 to Rs.1865.30, Bharat Forge rose by Rs.8.95 to Rs. .792.35, AIA Engineering increased by Rs.27.05 to Rs.2717.20, Polycab increased by Rs.25.75 to Rs.3176.95, Teamcan increased by Rs.18.95 to Rs.2939, CG Power increased by Rs.2.05 increased to Rs.308.40. Along with this, NHPC increased by Rs.2.19 to Rs.44.34, Adani Power increased by Rs.5.30 to Rs.211.05, Power Grid Corp increased by Rs.5.80 to Rs.238.55.

Continued attraction in auto stocks

Funds remained attractive with good performance from automobile companies, relief from fall in crude oil prices, good growth in vehicle sales. Maruti Suzuki gained Rs 21.85 to Rs 8,503.15 with dividend of Rs 90 per share, Motherson Samvardhan rose Rs 1.18 to Rs 52.45, TVS Motor rose Rs 16.05 to Rs 1,127.60. , Eicher Motors increased by Rs.33 to Rs.3250.55, Tata Motors increased by Rs.4.75 to Rs.478.05, Bosch increased by Rs.152.60 to Rs.18,939.25, MRF increased by Rs.702.90 to Rs. .87,230.05, Cummins India rose by Rs.9.70 to Rs.1565.15.

Growing attraction in banking stocks

The BSE Bankex index rose 180.88 points to close at 48,602.30 as funds continued to remain a favorite among banking-finance stocks. IndusInd Bank increased by Rs.16.70 to Rs.1138.20, Federal Bank increased by Rs.1.70 to Rs.135, Axis Bank increased by Rs.9.45 to Rs.887.80, State Bank of India increased by Rs.4.65 Rs.566.30, HDFC Bank increased by Rs.8.60 to Rs.1672.20. Along with this, Daulat Algotech increased by Rs.3.75 to Rs.51.45, IIFL Finance increased by Rs.14 to Rs.474.05, Advlaize increased by Rs.1.45 to Rs.58.14, JK Bank increased by Rs.1.16 to Rs. .53.33, Crisil rose by Rs.70.60 to Rs.3467.

DII's net sale in cash was Rs.227.88 crore

Foreign Portfolio Investors (FPIs), Foreign Institutional Investors (FIIs) made a net purchase of Rs.7813.62 crore worth of stocks in the cash segment today on Wednesday. A total of Rs.6556.14 crore was sold against a total purchase of Rs.7813.62 crore. While DII-domestic institutional investors made a net sale of Rs.227.88 crore. A total of Rs.5448.11 crore was sold against a total purchase of Rs.5220.23 crore.