Sensex rose 234 points to 61964 on Rs 1528 crore buying by funds.

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Nifty spot up 111 points to 18314 led by IT, metal stocks : Profit booking in banking stocks

Mumbai: On the global front, worrying reports of a new wave of Corona in China and the possibility of 6.50 crore cases being registered in a week, and the mistrust between the US and China and the deadline for the US debt ceiling is approaching, while the uncertainty remains, the European and American markets are cautious against the Asian countries. Markets saw a recovery today. The May trend in derivatives futures and options (F&O) in Indian stock markets is set to end on Thursday, with funds, players reasserting their bullish grip after a cautious start to the index-based. Funds continued selective buying in frontline stocks as the end-March season of corporate results remained encouraging overall. Along with this today, the Sensex rose by 234 points to 61963.68 and the Nifty spot rose by 111 points to close at 18314.40 as funds were taken in the lead of IT-software services, technology stocks and metal-mining stocks. Funds in small, mid cap stocks were also chosen today.

The IT index rose by 607 points

Expectations of growth in US business opportunities including IT-software services, re-banking in technology stocks, insurance and business growth in the IT sector at home led to heavy buying of funds. Orionpro Solution increased by Rs.65.25 to Rs.718.10, Cient increased by Rs.86.60 to Rs.1386.30, 63 Moons Techno increased by Rs.9.60 to Rs.175.45, Mastec increased by Rs.103.95 to Rs. .1993.90, LTI Mindtree increased by Rs.188.35 to Rs.4991.85, Happiest Mind increased by Rs.29.20 to Rs.903.55, Emphasis increased by Rs.60.60 to Rs.1968.50, Tech Mahindra increased by Rs.32 .45 rose to Rs.1104.45, TCS rose by Rs.76.20 to Rs.3297.95, HCL Technology rose by Rs.23.85 to Rs.1119.40, Infosys rose by Rs.24.20 to Rs.1293.05 . The BSE IT index rose 606.78 points to close at 28835.15.

Investing funds in metal stocks

Funds in metal-mining stocks were picking today. Vedanta rose by Rs.5.35 to Rs.287.35, JSW Steel by Rs.10.45 to Rs.703.50, APL Apollo by Rs.8.95 to Rs.1102.60, Nalco by Rs.81.46, Jindal Steel by Rs. Tata Steel rose by Rs.2.95 to Rs.525.25, Rs.104.95.

Attraction in capital goods stocks

Funds continued to be attracted to capital goods-power stocks. LG Equipment rose by Rs.85.85 to Rs.557.45, Suzlon rose by 79 paise to Rs.9.29, CG Power rose by Rs.12.25 to Rs.352.50, AIA Engineering rose by Rs.59.15 to Rs.2889. 75, Carborandum increased by Rs.23.05 to Rs.1222.45, Thermax increased by Rs.31.35 to Rs.2250.95, Teamcan increased by Rs.44.35 to Rs.3232.10, Honeywell Automation increased by Rs.493.25 to Rs. 39,509.90, Larsen & Toubro increased by Rs.26.25 to Rs.2216.55, Hindustan Aeronautics increased by Rs.28.15 to Rs.3100.90.

Increased buying in oil-gas stocks

Oil-gas stocks continued to attract funds. Adani Total Gas increased by Rs.34.35 to Rs.721.35, Indraprastha Gas increased by Rs.8.60 to Rs.479.95, GAIL increased by Rs.1.45 to Rs.106.30, IOC increased by Rs.1.03 to Rs. .87.10, Petronet LNG rose by Rs.1.80 to Rs.226.15, Reliance Industries rose by Rs.11.70 to Rs.2454.50.

Funds rally in auto stocks

Funds in the shares of automobile companies today were attracted by the good results of the companies. Balakrishna Industries increased by Rs.146.75 to Rs.2296.25, Cummins India increased by Rs.25.30 to Rs.1665.95, Bajaj Auto increased by Rs.38.10 to Rs.4520, Tube Investments increased by Rs.21.35 to Rs. 2720, Maruti Suzuki rose by Rs.50.70 to Rs.9157.40.

1901 Decline in small, mid cap stocks

Market breadth remained negative as foreign fund activity led to Sensex, Nifty based bullish funds, players opting for small, mid cap, stocks and selling in many stocks. Out of the total 3788 scrips traded in BSE, the number of gainers was 1719 and the number of decliners was 1901.

FII's Rs.923 crore: DII's purchase of Rs.605 crore

Foreign Portfolio Investors-FPIs, Foreign Institutional Investors-FIIs made a net purchase of Rs.922.89 crore worth of shares in the cash segment today-Monday. A total of Rs.6033.72 crore was sold against a total purchase of Rs.6956.61 crore. While DII-domestic institutional investors made a net purchase of Rs.604.57 crore. A total of Rs.4882.25 crore was sold against a total purchase of Rs.5486.82 crore.

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