Endless Gaps: Sensex tumbles 523 points to 64049

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Mumbai: After yesterday's recovery in the US stock markets, today Qatar's initiative to settle the hostage issue in Israel-Hamas war and the impact of new stimulus measures by China, unlike the recovery in the global markets especially in the Asian markets, there were continuous gaps in the Indian stock markets. Although international crude oil prices edged lower amid geopolitical tensions, stocks continued to rally amid talk of bearishness in operators, funds, small-cap stocks and the possibility of inflation-inflation factors becoming a threat to India. Sensex fell 522.82 points to 64049.06 and Nifty spot closed down 159.60 points to 19122.15 due to offloading in banking-finance, IT-software services, capital goods, auto, consumer durables stocks. International prices of crude oil fell in the evening with Brent crude at $88.15 and Nymax-New York crude at $83.71. Out of the total 3795 scrips traded in BSE, the number of gainers was 1140 and the number of decliners was 2551.

IT index fell by 352 points

The BSE IT index fell 352.53 points to close at 30902.51 due to massive selling of funds in IT-software services, technology stocks today. Tanla Platform fell by Rs 52.50 to Rs 958, 63 Moons Technology fell by Rs 12.70 to Rs 252.10, Cressanda Solution 86 paisa fell to Rs 22.60, Genesis fell by Rs 10.80 to Rs 312.95 , Sonata fell by Rs.30.40 to Rs.1046.80, Infosys fell by Rs.37.10 to Rs.1371.85, Cient fell by Rs.15 to Rs.1602, Sasken fell by Rs.7.15 to Rs.1133.75, TCS Rs.15.05 decreased to Rs.3393.95, KPIT Technology decreased by Rs.4.95 to Rs.1149.10.

Sale of funds in banking stocks

Funds' profitable selling in banking-finance stocks also continued. IndusInd Bank fell by Rs.25.60 to Rs.1412.70, ICICI Bank by Rs.13.70 to Rs.916.05, Federal Bank by Rs.1.80 to Rs.141.50, Axis Bank by Rs.8 before results. 10 decreased to Rs.955.35, HDFC Bank decreased by Rs.9.25 to Rs.1496.55, Kotak Mahindra Bank decreased by Rs.10.85 to Rs.1729.10. While State Bank of India increased by Rs.3.30 to Rs.556.35, AU Small Bank increased by Rs.12.75 to Rs.706.80.

FPI/FII net sale of Rs.4236 crore

Foreign Portfolio Investors - FPIs, FIIs had a massive net sale of shares worth Rs.4236.60 crore in cash today-Wednesday. A total of Rs.13,312.21 crore was sold against a total purchase of Rs.9075.61 crore. While DII-domestic institutional investors had a net purchase of Rs.3569.36 crore shares. A total of Rs.6069.19 crore was sold against a total purchase of Rs.9638.55 crore.

Investors' wealth fell by Rs.2.08 lakh crore

With the crash in Sensex, Nifty and many small, mid-cap, cash stocks, investors' wealth i.e. aggregate market capitalization of BSE-listed companies was washed away by Rs.2.08 lakh crore to Rs.309.22 lakh crore in a single day.

Recovery in global markets: Nikkei 208, Hang Seng rose 94 points

Global markets saw a recovery today amid Qatar's push for a settlement in the Israel-Hamas conflict. Japan's Nikkei 225 index increased by 207.57 points to 31269.92, Hong Kong's Hang Seng increased by 93.80 points to 17085.33, China's CSI 300 index increased by 17.33 points to 3504.46. In European markets, the markets turned positive after evening lows. Of course, US stock markets were softening in Nasdaq futures after Alphabet Inc.'s results. While strength was observed in Dow Jones.

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