Crash at the end of Mevalan: Sensex up 99 points to 61873

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China's economic-industrial slowdown has raised global concerns

Nifty up 36 points to 18321: Select bullishness in small, mid cap stocks

MUMBAI: As industrial, economic growth in China remains disappointing, the risk of a global recovery has arisen and the world may slip into a major recession. Global markets are fluctuating. Today, the market took a positive U-turn at the end of the May trend in the Indian stock markets against the pullback in the global markets. .

Sensex digested the decline of 289 points and finally closed with an increase of 99 points

Germany posted its second consecutive quarter of GDP growth, with Brent crude down $1.42 to $76.94 and Nymax-New York crude down $1.48 to $72.86 on expectations of a slowdown in international crude oil demand after negative reports from China. The global markets were soft due to the negative recession report and the increasing crisis in European countries. On the other hand, in the Indian markets, the Sensex initially fell by 289.12 points to 61484.66 and continued to buy stocks by foreign funds, local funds, automobiles, FMCG, capital goods, consumer durables, IT stocks and eventually rose 98.84 points to close at 61872.62. had been While the Nifty spot initially fell by 83 points to 18202.40, after digesting the decline, the purchase of funds came to the positive zone and went up to 18338.10 and finally closed by 35.75 points to 18321.15.

Buying in FMCG stocks

Funds in FMCG stocks were the preferred buys today. DCM Shriram increased by Rs.4.47 to Rs.75.97, Heritage Foods increased by Rs.10.70 to Rs.200.40, Sula Vineyards increased by Rs.12.50 to Rs.409.20, Sukhjit Starch increased by Rs.11.80. Rs.442, Tata Coffee increased by Rs.5.70 to Rs.227.40, Agro Tech Foods increased by Rs.19.15 to Rs.781.35, Patanjali Foods increased by Rs.22.65 to Rs.1032, ITC Ltd. increased by Rs.7 .65 to a new 52-week high of Rs 441.10, Ugar Sugar rose by Rs 1.45 to Rs 109.50, Tata Consumer rose by Rs 9.80 to Rs 780.70. BSE FMCG Index 122.16 points It closed at 17895.95.

Strong outlook of auto industry attracts

Funds were buying heavily in auto stocks today on strong growth estimates for the automobile industry and encouraging results including Cummins India. Cummins India's quarterly net profit rose 68 per cent to Rs 308.5 crore and a dividend of Rs 13 per share increased by Rs 52.25 to Rs 1646 on fund purchases, Uno Minda's net profit for the quarter ended March 2023 rose 33.49 per cent to Rs. 76.73 crore and net sales rose 15.42 per cent to Rs 1,662.89 crore. Shares gained Rs 17.60 to Rs 541.40, Balakrishna Industries rose by Rs 68.55 to Rs 2,443.65, Bajaj Auto rose to Rs. .124 increased to Rs.4643.85, Tube Investment increased by Rs.32.60 to Rs.2720, Eicher Motors increased by Rs.42.75 to Rs.3653.25, MRF increased by Rs.923 to Rs.96,555. The BSE Auto Index rose 161.39 points to close at 32309.19.

Profit booking in metal stocks on the back of weak results, China

Metal-mining stocks were an overall sell-off on negative China news and weak results including Hindalco. Shares fell by Rs 2.65 to Rs 404.40 on the back of Hindalco's profit. Hindustan Zinc fell by Rs.1.55 to Rs.305.10. While the company managed to get a loan of $850 million after higher dividend by Vedanta, the shares gained Rs 4.35 to Rs 295.80, JSW Steel rose by Rs 1.15 to Rs 696.90.

CG Power, BHEL, Thermax, Siemens rose

Funds in capital goods, power stocks were the pick today. Lakshmi Machine Works quarterly net sales up 30.5 per cent to Rs 1,303.04 crore and net profit up 13.74 per cent to Rs 94.10 crore Shares up by Rs 348.65 to Rs 11,569.15, CG Power It increased by Rs.8.95 to Rs.373.30, BHEL increased by Rs.1.86 to Rs.81.87, Larsen & Toubro increased by Rs.21.60 to Rs.2005.90. The BSE Capital Goods Index rose 254.36 points to close at 36731.38.

Lower valuing in small, mid-cap stocks

Sensex, Nifty based today gave a U-turn to the market after the funds showed weakness in the beginning and the market breadth turned from negative to positive as funds, players increased their buying in small, mid cap, cash stocks. Out of the total 3611 scrips traded in BSE, the number of gainers was 1802 and the number of decliners was 1687.

927 crore purchase of institutions

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs continued their steady buying, net buying of stocks worth Rs.589.10 crore in cash segment today-Thursday. A total of Rs.7931.97 crore was sold against a total purchase of Rs.8521.07 crore. While DII-domestic institutional investors made a net purchase of Rs.338.44 crore. A total of Rs.5184.36 crore was sold against a total purchase of Rs.5522.80 crore.

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