Broad rally in small, mid-cap stocks Sensex steady at end of narrow range

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- Index-based caution in India against strength in Asia, strength in Europe behind China

- Spot Nifty up 3 points to 19396: Capital goods, consumer durables, metal, FMCG stocks gain: FPIs/FIIs net sell Rs.495 crore in cash

Mumbai: With the recovery in Chinese stocks following the indication that the Chinese government is preparing a mega stimulus package to save China from its dire economic situation, strength was seen in the markets of Asia and Europe today. Along with this, despite signs of recovery behind Nasdaq futures in the US stock markets, funds, maharathis were seen easing overbought positions cautiously, avoiding new big purchases amid overall sluggishness in the Indian stock markets today. There was selective buying in power-capital goods, auto, FMCG frontline stocks against funds' profit booking in finance-banking, IT frontline stocks. Along with this, there was broad buying in small, mid-cap stocks. Index based markets were broadly stable with narrow fluctuations. The Sensex fell in the range of 65362.91 to 65165.45 and finally increased by 3.94 points to 65220.03 and the Nifty spot fell between 19443.50 to 19381.30 and finally closed by 2.85 points to close at 19396.45. International prices of crude oil remained soft with Brent crude falling 51 cents to 83.95 dollars and Nymax crude falling 40 cents to close to 80.32 dollars.

Capital goods stocks surge: BHEL rose by Rs.10 to Rs.111

Funds bought aggressively in capital goods stocks today. The BSE Capital Goods Index rose 545.22 points to close at 44186.94. BHEL rose by Rs.10.20 to Rs.111.05, Suzlon NG rose by 99 paise to Rs.20.90, GMR Airports rose by Rs.2.34 to Rs.57.75, Sona BLW rose by Rs.19.20 to Rs.610. 05, Bharat Electronics rose by Rs.3.95 to Rs.133.20, Polycab rose by Rs.144.95 to Rs.4995.15, Bharat Forge rose by Rs.27.55 to Rs.1006.70, Laxmi Machine Works rose by Rs.254. 55 increased to Rs.13,321, Teamcan increased by Rs.40 to Rs.3205, Hindustan Aeronautics increased by Rs.73.40 to Rs.3892.05.

Consumer index rises by 295: Bajaj Electric rises by Rs.36 to Rs.1138

Consumer durables stocks were buying the fund's pick today. Bajaj Electric increased by Rs.36 to Rs.1137.95, Havells India increased by Rs.29.30 to Rs.1319.40, Whirlpool of India increased by Rs.35.55 to Rs.1629.50, VIP Industries increased by Rs.14.60 to Rs. .703, Dixon Technology rose by Rs.102.15 to Rs.4994.95. The BSE Consumer Durables Index rose 294.94 points to close at 43884.94.

EverReddy rose by Rs.45 to Rs.419

FMCG stocks also remained the fund's pick today. EverReddy Industries rose by Rs.44.60 to Rs.418.80, Tilaknagar Industries by Rs.13.85 to Rs.221.15, SH Kelkar by Rs.9.25 to Rs.153.15, Andrew Yule by Rs.1 .32 increased to Rs.27.94, Associate Alcohol increased by Rs.20.05 to Rs.456.10, Parag Milk Food increased by Rs.5.80 to Rs.173.25, United Spirit increased by Rs.33.85 to Rs.1035. 95, Globus Spirits increased by Rs.24.65 to Rs.950.25, Sula Vineyards increased by Rs.12.55 to Rs.507.50, ITC increased by Rs.6.50 to Rs.454.20. The BSE FMCG index rose 130.35 points to close at 18809.28.

Jio Financials 5 percent lower circuit for the second day in a row

The shares of Jio Financial Services Limited, which was demerged from Reliance Industries and listed on the stock markets yesterday, saw the stock hit a five per cent lower circuit of only sellers for the second day in a row today as a result of continued selling bets by funds. The stock closed on the NSE by Rs 12.45, or five per cent, at Rs 236.45 in the lower circuit of only sellers of around 9.5 crore shares. While in BSE, the share fell by Rs.12.55 to close at Rs.239.20.

Profit booking in TMB, JK Bank, Union Bank

An overall mixed trend in banking-finance stocks today saw funds booking profits in several stocks. TMB-Tamil Nadu Mercantile Bank fell by Rs.29.85 to Rs.542.50, JK Bank fell by Rs.3.18 to Rs.89.74, Spandana Sphurti fell by Rs.20.40 to Rs.790.10, Union Bank by Rs.1 .85 decreased to Rs.89.96. While General Insurance increased by Rs.11.95 to Rs.217.50, New India Assurance increased by Rs.7.15 to Rs.131, South Indian Bank increased by Rs.1.20 to Rs.23.54, IIFL Finance increased by Rs.29.10. Increased to Rs.607.80, Poonawalla Fin increased by Rs.18.15 to Rs.438.90, Mahindra Finance increased by Rs.11.40 to Rs.288.70.

In IT stocks, 63 moons rose by Rs.29 to Rs.314

In IT-software services, technology stocks, funds, operators were selling overall. Cressanda Solution 85 fell to Rs.25.06, Explio Solution fell by Rs.36.75 to Rs.1390.05, Moschip Techno fell by Rs.1.48 to Rs.96.48, Imudra fell by Rs.7.25 to Rs.513.65. , Sonata fell by Rs.12.45 to Rs.1021.95, Oracle Fin fell by Rs.36.80 to Rs.4960.30, TCS fell by Rs.18.50 to Rs.3383.25. While 63 Moons Technology rose by Rs.28.55 to Rs.314.30, Quick Hill Tech rose by Rs.9.55 to Rs.191.10, Ratgain by Rs.22.75 to Rs.574.40, Emphasis by Rs.60.75 increased to Rs.2366.05.

Broad appeal in small, mid-cap stocks amid narrow volatility

Market breadth remained positive amid narrow volatility in Sensex, Nifty based small, mid cap, cash stocks today as funds, high net worth investors reduced continued broad valuations. Out of the total 3785 scrips traded in BSE, the number of decliners was 1503 and the number of gainers increased to 2165.

Net sale of Rs.495 crore in cash by FPIs/FIIs

Foreign Portfolio Investors - FPIs, FIIs had a net sale of shares worth Rs.495.17 crore in cash today-Tuesday. A total of Rs.9349.25 crore was sold against a total purchase of Rs.8854.08 crore. While DII-domestic institutional investors had a net purchase of Rs.533.75 crore shares. A total of Rs.5493.47 crore was sold against a total purchase of Rs.6027.22 crore.

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