Bullish trend in small cap stocks: Sensex falls 78 points to 65945


Mumbai: On the global front, on the one hand, China's deteriorating economic condition and on the other hand, bond yields in Germany reached a 12-year high in 2011 and bond yields in the United States reached a 16-year high and the US dollar strengthened against global currencies. In the Indian stock markets today too, selling of funds in banking-finance, IT-software services, technology stocks led to decline in the index-based market. However, attractiveness in select frontline FMCG stocks and automobile, capital goods stocks limited the index-based decline. Funds, high net worth investors valued small cap stocks today. While the improvement in mid-cap stocks was limited. The Sensex closed down 78.22 points at 65945.47 and the Nifty 50 spot index closed down 9.85 points at 19664.70 at the end of the two-way narrow swing. The Indian rupee weakened by 9 paise against the US dollar today and stood at 83.23.

Bankex lost 228 points

The BSE Bankex index fell 227.73 points to close at 50,120.16 on profitable fund selling in banking-finance stocks today. Bank of Baroda fell by Rs.3.80 to Rs.213.65, Canara Bank fell by Rs.5.35 to Rs.369.75, IndusInd Bank fell by Rs.18.55 to Rs.1423.50, Kotak Mahindra Bank by Rs.14. 90 decreased to Rs.1769.80, ICICI Bank decreased by Rs.7.90 to Rs.948.55, Axis Bank decreased by Rs.5.95 to Rs.1013.05.

Selling funds in IT stocks

Funds sold profitably in IT-software services, technology stocks today. Sonata decreased by Rs.30.95 to Rs.1059, Kelton Tech decreased by Rs.2.34 to Rs.86.36, Black Box decreased by Rs.4.20 to Rs.179.10, Emphasis decreased by Rs.45.90 to Rs.2442. 80, Axiscades Techno fell by Rs.7.90 to Rs.486.05, Coforge fell by Rs.83.05 to Rs.5203, Tech Mahindra fell by Rs.16.90 to Rs.1282.10, Persistent Systems fell by Rs.60.30 to Rs. .5858.75, Infosys fell by Rs.14.70 to Rs.1460.05. BSE IT Index closed down by 151.48 points to close at 32,588.90.

Selective bullishness in FMCG stocks

Funds made selective purchases in FMCG stocks today. Nestle India increased by Rs.327.45 to Rs.22,972.70, Jyoti Labs increased by Rs.22.55 to Rs.370.70, Sukhjit Starch increased by Rs.22 to Rs.425.05, Manorama Industries increased by Rs.94.45 1983.55, Varun Beverages increased by Rs.42.85 to Rs.967.10, Som Distillery increased by Rs.11 to Rs.334.05, GM Breweries increased by Rs.20.15 to Rs.704.90.

Khaina's net sales of Rs.693 crore

Foreign Portfolio Investors - FPIs, FIIs had a net sale of shares worth Rs.693.47 crore in cash today-Tuesday. A total of Rs.9444.28 crore was sold against a total purchase of Rs.8750.81 crore. While DII-domestic institutional investors had a net purchase of Rs.714.75 crore of shares. A total of Rs.6787.72 crore was sold against a total purchase of Rs.7502.47 crore.

Softening in Asia, Europe

Global markets continued to soften today. Global stocks were subdued as bond yields in Germany hit 2011 highs and bond yields in the US hit 16-year highs. In Asian markets, Japan's Nikkei 225 index fell by 363.57 points to 32,315.05, Hong Kong's Hang Seng fell by 262.39 points to 17,466.90. In Europe, Germany's DEX decreased by 112 points, France's CEC 40 index decreased by 55 points and London's Futsi 100 index showed a strength of 14 points.

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