Sensex rose 351 points to 64112

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MUMBAI: Indian stock markets rallied behind global markets as the corporate results season picked up an overall upbeat look amid a slump in crude oil prices as the Israel-Hamas war escalated late last week and the risk of the war spreading to other Middle-East countries rose. . Local funds maintained index-based gains after Reliance Industries last week posted an encouraging 29.7 percent rise in net profit in its second-quarter results and overall good results from other companies. Along with this there was attraction in banking-finance, cement, IT frontline stocks. Sensex rose 329.85 points to 64112.65 and Nifty spot rose 93.65 points to close at 19140.90. Crude oil prices Brent fell one dollar to 89.47 dollars and New York-Nymex crude fell 1.11 dollars to close to 84.42 dollars.

Reliance Incentive consequently increased by Rs.46

Funds were buying heavily on strong results from Reliance Industries, with international crude oil prices falling. Reliance Industries' quarterly net profit rose 29.7 per cent to Rs 19,878 crore as shares rose by Rs 46.10 to Rs 2,311.35. BPCL rose by Rs.12.30 to Rs.346.80, ONGC rose by Rs.4.05 to Rs.188.80, Indian Oil Corp rose by Rs.1.33 to Rs.88.26, Gujarat Gas rose by Rs.3.90 to Rs. .410.80, HPCL rose by Rs.2.30 to Rs.245.75. The BSE Oil-Gas Index rose 209.87 points to close at 18,265.55.

Short covering in banking-finance stocks

Funds' short covering in banking-finance stocks was seen increasing today. ICICI Bank increased by Rs.11.90 to Rs.924.50, HDFC Bank increased by Rs.15.35 to Rs.1484.90, Federal Bank increased by Rs.1.40 to Rs.140.95, IndusInd Bank increased by Rs.14.35 1453.85, Kotak Mahindra Bank increased by Rs.14.90 to Rs.1717.40, State Bank of India increased by Rs.4.05 to Rs.565.05. The BSE Bankex index rose 258.99 points to close at 48604.73.

Attractiveness in finance stocks

Selective buying of funds in finance stocks was seen increasing today. PTC India Financial increased by Rs.2.04 to Rs.29.25, PB Fintech by Rs.34.75 to Rs.703.65, Motilal Oswal by Rs.46.60 to Rs.1016.10, CSB Bank by Rs.10.85 increased to Rs.330.85, One 97 Paytm increased by Rs.28.70 to Rs.924.55, Anand Rathi increased by Rs.48.25 to Rs.1897.95, Max Financial increased by Rs.21.10 to Rs.926.55, MCX India rose by Rs.35.90 to Rs.2279.45.

Good results attract IT stocks

Due to the attraction of good results of IT companies on the global front, funds were being chosen in IT, technology stocks. Intellect Design increased by Rs.35.95 to Rs.679.35, Datamatics Global increased by Rs.34.35 to Rs.652.55, KPIT Technology increased by Rs.55.25 to Rs.1184.45, Mastech increased by Rs.98.65 to Rs. .2245 remained.

Profitable selloff in auto stocks

The BSE Auto Index fell 334.21 points to close at 36383.78 as funds booked profits in automobile companies today. Tata Motors fell by Rs.12.45 to Rs.628.45, Maruti Suzuki by Rs.160.35 to Rs.10,392.55, Bosch by Rs.297.35 to Rs.19,439.50, Bajaj Auto by Rs.55 .45 decreased to Rs.5318.25, Mahindra & Mahindra decreased by Rs.12.45 to Rs.1497.55.

Increased profit booking in small, mid cap stocks

Market breadth remained positive with selective buying in small, mid cap stocks today. Of course, profit booking was seen in many small, mid cap, cash stocks. Out of the total 3935 scrips traded in BSE, the number of gainers was 1875 and the number of decliners was 1864.

Investors' wealth increased by Rs.1.07 lakh crore

In the stocks today Sensex, Nifty based bullish progressed while attractiveness remained in small, mid cap stocks, the wealth of investors i.e. aggregate market capitalization of companies listed in BSE increased by Rs.1.07 lakh crore to Rs.311.52 lakh crore in a day.

1328 crore purchase of DII shares

Foreign Portfolio Investors - FPIs, FIIs had a net sale of Rs.1761.86 crore more shares in cash today-Monday. A total of Rs.8415.56 crore was sold against a total purchase of Rs.6653.70 crore. While DII-domestic institutional investors had a net purchase of Rs.1328.47 crore shares. A total of Rs.6195.13 crore was sold against a total purchase of Rs.7523.60 crore.

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