Sensex hits new high: History is created in the stock market

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Mumbai: Indian stocks traded cautiously in global markets today amid a mix of factors including US President Biden's statement calling China's Xi Jinping a dictator, growing acrimony in relations between the US and China, a lower-than-expected interest rate cut by China on the one hand, and signs of a dampening effect on the El-Nino monsoon on the other. In the markets, Sensex created a history of new highs. Today the intratrade Sensex returned to profit-taking pressure after touching a new record high of 63588. However, it remained a normal distance away from this new high.

After the continuous buying of foreign portfolio investors in the Indian stock markets for the past several days, now the local funds started buying big in the stocks and the expectation of increased cooperation in the sectors including IT, defense and foreign funds from Prime Minister Narendra Modi's visit to America, the funds today hit a new record at the end of a two-sided rout. was created The Sensex closed at 63523.15, up 195.45 points at the end of a two-way fluctuating move, after creating a new intra-day record of 63588.31. While the spot Nifty remained 12 points away from the peak of 18887.60 on December 1, 2022, it reached 18875.90 and finally increased by 40.15 points to close at 11856.85.

Profit booking of funds in metal-mining stocks

Metal-mining stocks saw continued profit booking today amid a negative report from China. Jindal Steel fell by Rs.11 to Rs.583.30, JSW Steel fell by Rs.14.25 to Rs.758.55, Hindalco fell by Rs.7.70 to Rs.421.20, Nalco fell by Rs.1.12 to Rs.84. 02, Vedanta fell by Rs.1.35 to Rs.281.25. The BSE Metal Index fell by 194.19 points to close at 20,564.15.

Fund attraction strengthened in Reliance

The fund's pick today was in oil-gas stocks. Indraprastha Gas increased by Rs.13.85 to Rs.480.15, ONGC increased by Rs.2.90 to Rs.160.15, Petronet LNG increased by Rs.1.80 to Rs.226, Reliance Industries increased by Rs.16.85 to Rs.2563. .60, HPCL rose by Rs.1.10 to Rs.274.05.

Estimation of the effect of El-Nino

Sugar, stocks rise

FMCG stocks were picked up today with selective buying in sugar stocks amid estimates of impact of El Nino monsoon along with reduced sugarcane crop. Vadilal Industries increased by Rs.112.90 to Rs.2582.90, Agro Tech Foods increased by Rs.31.80 to Rs.832.95, Tasty Bite increased by Rs.353 to Rs.12,925, Dodla Dairy increased by Rs.9.80 to Rs. .565, IFC Agro increased by Rs.9.35 to Rs.538.40, Ugar Sugar increased by Rs.1.85 to Rs.121.50, Magadh Sugar increased by Rs.6 to Rs.419.65, Dalmia Sugar increased by Rs.3.75 increased to Rs.370.

Profit booking in small, mid cap stocks

Despite fund selection in small, mid cap, cash stocks today, market breadth remained negative due to increasing offloading of operators, players with profit booking in many stocks. Out of the total 3642 scrips traded in BSE, the number of gainers was 1706 and the number of decliners was 1822.

Net purchase of FPI/FII and DII

Foreign Portfolio Investors - FPIs, FIIs made a net purchase of shares worth Rs.4013.10 crore in cash today-Wednesday. A total of Rs.9782.42 crore was sold against a total purchase of Rs.13,795.52 crore. While DII-domestic institutional investors had a net purchase of shares worth Rs.550.36 crore in cash today. A total of Rs.7154.50 crore was sold against a total purchase of Rs.7704.86 crore.

Investors' wealth increased

In the stocks today, the index based new record was created, while the buying attraction remained in small, mid cap, cash stocks, the wealth of the investors i.e. the aggregate market capitalization of the companies listed in BSE increased by Rs.85 thousand crores in a day and reached a new historical high of Rs.294.36 lakh crores.

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