Sensex rose 15 points to 66023

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China crisis and Germany's negative news caution

MUMBAI: Indian stock markets also saw caution at the end of volatility today as global markets softened amid reports of distress in the property sector following Evergrande's re-emergence into crisis in China and other developers running into trouble, as well as German bond yields rising to 2011 highs. Sensex, Nifty based two-way volatility was seen at the end of stability. Profit booking of funds in IT-software services, technology stocks and capital goods heavyweight Larsen & Toubro were the sell-offs. While consumer durables and banking stocks remained the preferred attraction. The Sensex fell in the range of 66225.63 to 65764.03 and finally rose 14.54 points to close at 66023.69. While the Nifty 50 spot index fluctuated between 19734.15 and 19601.55, it closed by 0.30 points at 19674.55. Funds, high net worth investors were buying in mid cap stocks today.

IT Index down 253 points: Quick Hill, AxisCADs, Infosys, Wipro, Oracle fall

There was widespread profit booking by funds in IT-software services, technology stocks today. The BSE IT index fell by 253.16 points to close at 32,740.38. Infosys fell by Rs.21.25 to Rs.1474.75, Oracle Finserv fell by Rs.59.55 to Rs.4136.30, KPIT Tech fell by Rs.22.75 to Rs.1051.30, Axiscades Tech fell by Rs.15.45 to Rs. .493.95, Quick Hill Tech fell by Rs.7.05 to Rs.237.70, Wipro by Rs.4.60 to Rs.414.05, LTIMindtree by Rs.45.70 to Rs.5380.05, TCS by Rs.25 .20 decreased to Rs.3577.45. Of course, some of the gainers in IT stocks were Sonata by Rs.44.35 to Rs.1089.45, Zensar Tech by Rs.17.40 to Rs.534, Ratgain Travel by Rs.12.35 to Rs.552.

Kotak Bank funds up Rs 28 to Rs 1785 on buying: BOB, Federal Bank, ICICI rise

Funds made selective purchases in banking-finance stocks today. Kotak Mahindra Bank increased by Rs.28.15 to Rs.1784.70, Bank of Baroda increased by Rs.2.05 to Rs.217.45, Federal Bank increased by Rs.1.10 to Rs.147.10, ICICI Bank increased by Rs.6. 15 increased to Rs.956.45, HDFC Bank increased by Rs.2.50 to Rs.1531.70. Along with this, among finance stocks, MCX India rose by Rs.119.20 to Rs.1903.25, PNB rose by Rs.2.74 to Rs.80.23, Tata Investment Corp rose by Rs.169.35 to Rs.2963.35, Bajaj Finance rose by Rs. 346.70 up to Rs.7819.20, Bajaj Finserv up by Rs.34.45 to Rs.1576.75.

Selective rally in consumer durables stocks: Blue Star, Dixon Technology, Voltas gain traction

Fund selection in Consumer Durables companies stocks was the trend today. Blue Star increased by Rs.16.50 to Rs.912.75, Dixon Technology increased by Rs.75.60 to Rs.4884.15, Voltas increased by Rs.10.05 to Rs.875.30, Aditya Birla Fashion increased by Rs.1.45 Rs.216.20, Titan Company increased by Rs.9.25 to Rs.3282.35. The BSE Consumer Durables Index rose 195.71 points to close at 46147.04.

AIA collapses by Rs.122 to Rs.3370: Profit booking in CG Power, Sona BAW, Laxmi Machine

Capital goods stocks saw overall softening today as funds booked profits. AIA Engineering fell by Rs.122.30 to Rs.3370.50, Sona BLW fell by Rs.11.20 to Rs.568.95, CG Power fell by Rs.8.05 to Rs.432.30, Laxmi Machine Works by Rs.187.95 It fell to Rs.14,684.35, Honeywell Automation fell by Rs.385.85 to Rs.40,491.20. While Praj Industries increased by Rs.21.30 to Rs.590, Polycab increased by Rs.80.45 to Rs.5209.80.

Indiabulls Real, Shobha Developers, Godrej Properties, Macrotech Developers, Brigade, Prestige boom

Funds were valued in real estate stocks today. There was an attraction today in the expectation of increasing demand in the property sector in the country and increase in the profitability of companies. Indiabulls Real Estate rose by Rs.6.95 to Rs.85.54, Shobha Developers by Rs.34.45 to Rs.683.20, Godrej Properties by Rs.58.25 to Rs.1596.95, Macrotech Developers by Rs.26 to Rs. .766.55, Brigade Enterprises increased by Rs.15.45 to Rs.591.60, Prestige Estate increased by Rs.11.70 to Rs.609.50, Oberoi Realty increased by Rs.13.40 to Rs.1132.45.

1952 stocks closed negative due to increased profit booking despite attractiveness of selection in small, mid cap stocks.

Market breadth continued to be negative as many stocks continued to sell off despite reduced selection appeal in small, mid cap stocks against a steady end to index based volatility. Out of the total 3946 scrips traded in BSE, the number of gainers was 1842 and the number of decliners was 1952.

FIIs' net selling of Rs.2333 crore : DIIs' net buying of Rs.1579 crore in stocks

Foreign Portfolio Investors - FPIs, FIIs had a net sale of Rs.2333.03 crore worth of shares in cash today-Monday. A total of Rs.10,843.68 crore was sold against a total purchase of Rs.8510.65 crore. While DII-domestic institutional investors had a net purchase of Rs.1579.28 crore shares. A total of Rs.7042.49 crore was sold against a total purchase of Rs.8621.77 crore.

Germany's DEX falls 115 points: Hang Seng falls 328 points: Nikkei gains 276 points

In global markets, negative factors including bond yields in Germany rising to 2011 highs along with negative news from China led to a cautious overall softening today. In the European markets, Germany's Dex index was down by 114 points, London's Futsi was down by 32 points and France's Keck 40 index was down by 48 points. While in Asia, the Hang Seng of Hong Kong showed a decrease of 328 points and the Nikkei 225 index showed an improvement of 276 points.


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