Sensex 64050, Nifty at a record high of 19011

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Impact of factors including progress of monsoon, recovery of global markets

MUMBAI: With the recovery of global markets and Foreign Portfolio Investors (FPIs) reinvesting their wealth in the Indian stock markets, India is shining today, with the Sensex touching 64,000 and the Nifty touching 19,000 for the first time in Indian stock markets. Positive factors including good progress after the delay in monsoon due to El-Nino and the merger of banking giant HDFC and HDFC Bank, large decline in bank NPAs in March 2023, narrowing in current account deficit, economic recovery figures in the US have led players to withdraw ahead of the end of the June trend in derivatives. Obligation to short cover bearish trades made during the day saw a stormy record rally today. The funds drove the market to new highs with wild bets in frontline, heavyweight stocks.

The maharathis are active in a big way

Amid the discussion of funds, maharathis becoming active in frontline, heavyweight stocks, Reliance Industries, Tata Motors, Infosys, Hindustan Unilever, State Bank of India, TCS including Auto, Capital Goods, Consumer, Banking-Finance, Metal, FMCG stocks rose Sensex intra- Day 64050.44 created a new history and finally rose 499.39 points to close at a new high of 63915.42. While the Nifty 50 spot index created a new record high of 19011.25 and finally closed at a new record high of 18,972.10 after increasing by 154.70 points. Out of the total 3628 scrips traded in BSE, the number of gainers was 1790 and the number of decliners was 1709.

Auto index jumped 300 points

Funds continued to buy big in auto stocks on expectations of a pick-up in vehicle purchases after a delay in monsoon for automobile companies. Tata Motors led the rally and gave a big jump today. Tata Motors rose by Rs.13.65 to Rs.586.70. Apollo Tires increased by Rs.8.95 to Rs.407.90, Bajaj Auto increased by Rs.91.65 to Rs.4710.05, TVS Motor increased by Rs.23.30 to Rs.1328.55, Ashok Leyland increased by Rs.2.30 165.95, Maruti Suzuki increased by Rs.90.65 to Rs.9548.95, MRF increased by Rs.863.15 to Rs.1,00,460.70. The BSE Auto Index rose 300.37 points to close at 34,296.54.

Oil, gas stocks rise

Funds in oil-gas stocks were bullish today. Shares rose by Rs 5 to Rs 365.20 on the fund raising plan including BPCL's rights issue. IOC rose by Rs.1.24 to Rs.90.55, Reliance Industries rose by Rs.33.55 to Rs.2529.35, HPCL rose by Rs.2.15 to Rs.269.20, Petronet LNG rose by Rs.1.10 to Rs. It was 220.80.

Bank stocks rose

Banking-finance stocks remained the fund's pick. Funds continued to be taken today in anticipation of the merger of HDFC Bank and HDFC Limited to take effect from July 1. HDFC Bank increased by Rs.18.40 to Rs.1676.40, HDFC Limited increased by Rs.17.15 to Rs.2779.65. IndusInd Bank increased by Rs.18.35 to Rs.1334, State Bank of India increased by Rs.4 to Rs.569.95, Axis Bank increased by Rs.4.85 to Rs.978.30. Along with this, Karnataka Bank increased by Rs.14.60 to Rs.171.90, Power Finance increased by Rs.10 to Rs.217.70, Piramal Enterprises increased by Rs.39.65 to Rs.948.50, UTI AMC increased by Rs.28.20 was Rs.724.75.

Investors' wealth increased by Rs.1.98 lakh crore

Sensex, Nifty based funds with historical boom, funds in automobiles, banking, capital goods, consumer durables, healthcare stocks, and selective buying in small, mid cap, cash stocks, investors' wealth i.e. aggregate market capitalization of BSE listed companies in one day today Rs. 1.98 lakh crore to reach a new record high of Rs.294.11 lakh crore.

FII's purchase of Rs.12,350 crore

Foreign Portfolio Investors-FPIs, FIIs made a net purchase of shares worth Rs.12,350 crore in cash today-Wednesday. A total of Rs.8667.34 crore was sold against a total purchase of Rs.21,017.34 crore. In which GQG Partners, US This includes the purchase of shares worth more than Rs. 7200 crores, i.e. 900 crores in Adani group companies by the established investment company and others. While DII-domestic institutional investors had a net sale of shares worth Rs.1021.01 crore in cash today. A total of Rs.14,999.22 crore was sold against a total purchase of Rs.13,978.21 crore.

Pharma stocks rally

Healthcare-Pharmaceuticals companies' stocks were aggressively bullish by funds today. NGL Fine Chem increased by Rs.183.10 to Rs.1854.50, Torrent Pharma increased by Rs.94.90 to Rs.1972.50, Gland Pharma increased by Rs.49.65 to Rs.1064.25, Medicaman Bio increased by Rs.29.80 Up to Rs.729.60, Syngen International up by Rs.29.95 to Rs.758.50, Aarti Drugs up by Rs.13.70 to Rs.460.40, Glenmark up by Rs.20 to Rs.675.80, Abbott India by Rs. 603.55 to Rs.23,290, Sun Pharma Industries rose by Rs.20.70 to Rs.1022.40. The BSE Healthcare Index rose 228.12 points to close at 25,634.27.

Consumer durables stocks rose

Funds were also selective buyers today in stocks of consumer durables companies. Titan Company increased by Rs.48.75 to Rs.3024.95, Aditya Birla Fashion increased by Rs.2.45 to Rs.213.30, Havells India increased by Rs.11.30 to Rs.1297, VIP Industries increased by Rs.4.05 to Rs. .609.60 remained. The BSE Consumer Durables Index rose 325.88 points to close at 42,666.44.

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