Sensex fell 440 points to 66267 behind HDFC and RIL

Global markets strengthened on expectations that the Federal Reserve's interest rate hike has now peaked

Mumbai: After the Federal Reserve Bank of America raised the interest rate by an expected 0.25 percent yesterday, putting the interest rate at a 22-year high, the global markets saw a recovery today behind the US as analysts said that the interest rate has reached a peak at this level and the possibility of a reduction from here in the coming days. But the Indian stock markets are running contrary to the global markets today, at the end of the July trend in futures and options (F&Os), funds, maharathis once again sold banking stocks including Reliance, HDFC Bank and frontline automobile stocks and ended the bullish trend again. The bearish players showed softness for the first three days of the week and after cutting off the sales yesterday brought them back into the bullish trap, they were taken back to the pits of losses today. There was talk of many bullish small-medium traders collapsing into heavy losses due to last-minute hammering in F&Os today. Profit booking by funds including HDFC Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank, Bajaj Finserv, Auto giant Mahindra & Mahindra, FMCG giant Nestlé India, ITC and IT stocks including Tech Mahindra led the Sensex to over 500 points. At the end of the tumble, it fell by 440.38 points to 66266.82 and the Nifty spot closed by 118.40 points to 19659.90. On the back of company specific positive-negative developments with the season of corporate results, funds picked up in select stocks today while selling in some stocks. Despite the good progress of monsoon across the country, funds booked profits in FMCG stocks and automobile stocks on caution as heavy rains in some parts raised fears of crop failure in the agriculture sector. Out of total 3703 scrips traded in BSE, the number of losers increased to 1894 and the number of gainers decreased to 1680.

Bankex falls 400 points: Axis Bank falls despite good results: Profit booking in Kotak Bank, HDFC Bank

The US A sell-off in banking stocks led to bounce funds after initial strength in Indian stock markets against a recovery in global banking stocks after the Federal Reserve's interest rate hike. Despite yesterday's good results, Axis Bank traded down by Rs.17.10 to Rs.959.75, Kotak Mahindra Bank by Rs.21.90 to Rs.1874.05, HDFC Bank by Rs.16.70 to Rs.1673.65, IndusInd. Bank decreased by Rs.12.20 to Rs.1415.55, ICICI Bank decreased by Rs.5.95 to Rs.990.60. The BSE Bankex index lost 400.60 points to close at 51550. Along with this, Can Fin Homes decreased by Rs.25.10 to Rs.746, Credit Access Gramin decreased by Rs.49 to Rs.1369.95, PNB Housing decreased by Rs.14.60 to Rs.638.10, Bajaj Finance decreased by Rs.146.95. was Rs.7284.10.

Sudden sell-off of funds in auto stocks: Fires of avalanche? Mahindra, which bought holdings in RBL Bank, fell by Rs.99

After good progress of monsoon, heavy rains in many parts and negative factors in agriculture, rural sector affecting vehicle demand led to heavy selling in some auto stocks by funds today. Mahindra & Mahindra's purchase of 3.53 percent holding in RBL Bank for Rs.417 crore also had a negative impact, the share fell by Rs.97.45 to Rs.1447.10. Bosch gained Rs.266.60 to Rs.18,875.85, TVS Motors fell by Rs.17.65 to Rs.1354.20, Balakrishna Industries fell by Rs.32.35 to Rs.2470. The BSE Auto Index fell 462.79 points to close at 35640.31.

Shares rose Rs 103 to Rs 1,171 on report of sale of promoter's holding in Cipla Ltd to Blackstone, Baring Asia

Healthcare-Pharmaceuticals stocks were higher today behind Cipla. With the monsoon season also expected to pick up business in the healthcare sector, funds were also buying. Shares surged by Rs 102.95 to Rs 1171.45 on heavy buying today following reports of the promoters' statement of selling holdings in Cipla Ltd to PE investors including Blackstone and Baring Asia. Along with this, Syngen International increased by Rs.48.35 to Rs.810, Gland increased by Rs.73.45 to Rs.1267.15, Aurobindo Pharma increased by Rs.46.35 to Rs.835.20, Wockhardt increased by Rs.11.65 to Rs. 244.30, lupine rose by Rs.38.50 to Rs.980.05. The BSE Healthcare Index rose 645.43 points to close at 27625.28.

FPI/FIIs' massive net selling of Rs.3979 crore in cash : DIIs' net buying of Rs.2528 crore

Foreign portfolio investors – FPIs and FIIs – witnessed massive net selling of stocks worth Rs 3,979.44 crore in cash today-Thursday. A total of Rs.15,619.87 crore was sold against a total purchase of Rs.11,640.43 crore. While DII-domestic institutional investors had a net purchase of shares worth Rs.2528.15 crore in cash today. A total of Rs.6753.62 crore was sold against a total purchase of Rs.9281.77 crore.

Investors' asset-market capitalization fell by Rs.43 thousand crores to Rs.303.50 lakh crores.

Sensex, Nifty based trend at the end of the trend ended with funds, cautious investors easing the bullish trade in many stocks today. Investors' assets in the stocks i.e. the aggregate market capitalization of the listed companies in BSE fell by Rs.43 crore to Rs.303.50 lakh crore.