Funds rally in finance, IT, capital goods, metal stocks: Sensex up 267 points to 65216

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- Against erosion in markets including Hong Kong in Asia amid China's dire situation...

- Spot Nifty up 83 points to 19394 : Consumer durables, small, mid cap stocks rally broadly : FPIs/FIIs buy Rs.1901 crore in cash

MUMBAI: On the one hand, on the other hand, as the global concern is increasing as China's economic condition is becoming dire, deflation, property market boom and shadow banking activities are starting to bubble up, the market showed strength as funds started to buy less in the Indian stock markets today in anticipation of funds turning to India as an alternative. The fund's capital goods-power stocks, particularly Bajaj Finance, Bajaj Twins stocks including Bajaj Finserv, along with other select banking stocks, attracted heavy buying in metal-mining, IT-software services, technology stocks and consumer durables, FMCG, healthcare-pharmaceuticals companies. The correction in the market was interrupted and recovery was seen. Sensex increased by 267.43 points to 65216.09 and Nifty spot increased by 83.45 points to close at 19393.60.

Boom in TCS: IT index rose by 273

The BSE IT index rose 272.81 points to close at 31,180.77 due to short covering in IT-software services, technology stocks and reduced valuations. Zensar Technology rose by Rs.7.55 to Rs.512.60, Emphasys rose by Rs.31.90 to Rs.2323, LIT Mindtree rose by Rs.60.45 to Rs.5146.05, Infosys rose by Rs.15.40 to Rs.1404. 15, Persistent System increased by Rs.163.80 to Rs.5011.80, L&T Technology increased by Rs.82.95 to Rs.4345.55, Coforge increased by Rs.83.05 to Rs.5001.10, Latent View increased by Rs.12 .20 increased to Rs.437.30, TCS increased by Rs.31.50 to Rs.3399.15. The BSE IT index rose 272.81 points to close at 31180.77.

Boom in Bajaj Twins: Muthut, JK Bank's attraction

In finance-banking stocks, funds were being taken today, especially in Bajaj Twins stocks. Bajaj Finance increased by Rs.185 to Rs.7046.70, Bajaj Finserv increased by Rs.18.95 to Rs.1478.55. While TMB-Tamil Nadu Mercantile Bank rose by Rs.88.10 to Rs.572.30, Muthut Capital rose by Rs.28.65 to Rs.378.50, JK Bank rose by Rs.6.54 to Rs.92.92, Repco Home rose by Rs. 27.75 up to Rs.400.85, Geojit Fin up by Rs.2.85 to Rs.51.45, Care Ratings up by Rs.38.05 to Rs.792.70, DCB Bank up by Rs.4.90 to Rs.117. 15, PNB Housing increased by Rs.23.10 to Rs.657.85, Crisil increased by Rs.110.10 to Rs.3927.35, Motilal Oswal increased by Rs.19.25 to Rs.915.55. Along with this, IndusInd Bank increased by Rs.28.30 to Rs.1399, Axis Bank increased by Rs.9.55 to Rs.952.50, Kotak Bank increased by Rs.10.95 to Rs.1761.40.

Praj Industries, GMR Airport, Grindwell were raised

Funds were buying broadly in capital goods stocks today. Thermax rose by Rs.152.25 to Rs.2752, Praj Industries by Rs.21.75 to Rs.499.55, Sona BLW by Rs.24.45 to Rs.590.85, GMR Airports by Rs.2.12 to Rs.55 .41, Grindwell Norton rose by Rs.65 to Rs.2255.85, BHEL rose by Rs.2.85 to Rs.100.85, Carborandum Universal rose by Rs.26.15 to Rs.1115, Polycab rose by Rs.76.95 to Rs.4850. .20, Siemens rose by Rs.41.15 to Rs.3647.50, Bharat Forge rose by Rs.9.85 to Rs.979.35, Laxmi Machine Works rose by Rs.121.30 to Rs.13,113, Larsen & Toubro rose by Rs. 23.90 increased to Rs.2663.80. The BSE Capital Goods Index rose 468.83 points to close at 43641.72.

NMDC, Hindalco, SAIL, Jindal Steel, Nalco rose

Amid China's woes, fund stocks were under-selected on expectations of sustained demand in the infrastructure sector despite expectations of a dampening effect on the Indian metal-mining sector. NMDC rose by Rs.3.20 to Rs.118.45, Hindalco rose by Rs.9.55 to Rs.449.20, SAIL rose by Rs.1.71 to Rs.86.03, Jindal Steel rose by Rs.12.65 to Rs.653. .40, Nalco by Rs.1.13 to Rs.87.92, Coal India by Rs.2.65 to Rs.230.10, Tata Steel by Rs.1.10 to Rs.116.85, JSW Steel by Rs.7. 10 increased to Rs.794.15. The BSE Metal Index rose 250.55 points to 21,267.85.

Beat after listing of Jio Financial Services

After the demerger from Reliance Industries Limited, Jio Financial Services Limited, which was listed today in the stock markets, got a pulse after the listing of the shares. The stock fell by Rs 12.95 to only sellers of 3.45 crore shares in the lower circuit of five percent on the NSE exchange due to selling of index funds in the stock. While Reliance Industries fell by Rs.36.80 to Rs.2520.

Funds rally in healthcare stocks: Newland Labs rises

Funds in healthcare-pharmaceuticals companies' stocks saw renewed heavy buying today. Coperan increased by Rs.18.80 to Rs.181.40, Krishna Diagnostic increased by Rs.39.50 to Rs.568.50, Poly Medicure increased by Rs.88.85 to Rs.1428.85, Newland Lab increased by Rs.161.10 to Rs. .3924.10, Panacea Biotech increased by Rs.4.30 to Rs.132.25, Procter & Gamble increased by Rs.134.65 to Rs.5366.80, RPG Life increased by Rs.29.20 to Rs.1189.50, Kowei Medical Rs.60.15 increased to Rs.2551.05. BSE Healthcare Index rose by 220.42 points to 28021.76.

Funds divested into small, mid-cap stocks, valuing high net worth investors

In small, mid-cap, cash stocks today, funds, high net worth investors reduced market breadth from negative to positive rather than broad valuing. Out of the total 3907 scrips traded in BSE, the number of decliners was 1675 and the number of gainers was 2062.

Net sale of Rs.1901 crore in cash by FPIs/FIIs

Foreign Portfolio Investors - FPIs, FIIs had a net sale of Rs.1901.10 crore shares in cash today-Monday. A total of Rs.9976.05 crore was sold against a total purchase of Rs.8074.95 crore. While DII-domestic institutional investors had a net purchase of Rs.626.25 crore shares. A total of Rs.5531.15 crore was sold against a total purchase of Rs.6157.40 crore.

306.95 lakh crore to investors' wealth in stocks

In stocks today Sensex, Nifty based bullish small, mid cap, cash stocks were widely taken, the wealth of investors in stocks i.e. aggregate market capitalization of companies listed in BSE increased by Rs.3.52 lakh crore to Rs.306.95 lakh crore in a day.

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