Sensex ended narrowly trading down 48 points at 65970

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Slowness in the secondary market as rupees two lakh crores were drawn in four IPOs

Mumbai: The four-day cease-fire between Israel and Hamas, the European Central Bank's indication of a pause in interest rate hikes, and the recovery in the European and American markets in contrast to the recovery in the global markets in the Asia-Pacific countries as the news of a new epidemic spread in China after the Corona virus spread and anxiety also increased in India. Indian stock markets were cautious for the second day in a row with doldrums. Along with this, in the primary market today, four IPO investors including Tata Technologies, Gandhar Oil Refineries, Fedbank Financial withdrew Rs. 2,01,489.94 crores in four days after massive investment. Players in IT-software services, technology stocks, funds in consumer durables stocks were selling against selective buying in banking-finance, healthcare, capital goods stocks. The Sensex bounced between 66102 and 65895 in two-way volatility and ended down 47.77 points to close at 65970.04. While the Nifty 50 spot index also fell in the range of 19833 to 19789 and finally closed down by 7.30 points to close at 19794.70. Despite the postponement of the OPEC meeting on the 30th, international prices of crude oil remained in narrow range with Brent at $81.79 and New York-Nymex crude at $76.80 on concerns about global demand.

Banking, insurance stocks rose

Banking-finance stocks saw reduced selective buying today after the Reserve Bank of India's recent fresh risk-related hawkish decision saw a sell-off. Axis Bank increased by Rs.9.50 to Rs.1008.55, HDFC Bank increased by Rs.10.45 to Rs.1532.20, ICICI Bank increased by Rs.6.10 to Rs.929.15, Kotak Mahindra Bank increased by Rs.8.50 increased to Rs.1746.90. The BSE Bankex index rose 209.90 points to close at 49339.05. In finance stocks, many finance stocks were bought on the back of the huge success of IREDA's IPO. New India Assurance rose by Rs.34.90 to Rs.209.40, General Insurance rose by Rs.41.80 to Rs.305.35, Edelweiss rose by Rs.8.34 to Rs.71.15, LIC India rose by Rs.59.05 was Rs.676.85.

Offloading in IT-software stocks

Funds sold profitably in IT-software services, technology stocks today. Oracle Finserv fell by Rs.66.05 to Rs.4032.20, Wipro fell by Rs.6.15 to Rs.396, TCS fell by Rs.52.05 to Rs.3456.90, Emphasis fell by Rs.32.65 to Rs.2318, Imudra 63 Moons Tech fell by Rs.6.40 to Rs.453, 63 Moons Tech fell by Rs.5.85 to Rs.417.40. The BSE IT index fell by 289.16 points to close at 32706.83.

New pandemic in China: Healthcare stocks rally

A mysterious new disease is spreading widely in China, with panic in China and fear of the epidemic spreading globally, buying in the stocks of healthcare-pharmaceuticals companies. Supriya Lifescience rose by Rs.28 to Rs.278.30, Lupine by Rs.45.90 to Rs.1242.20, Thyrocare by Rs.18.50 to Rs.569.40, Shelby by Rs.9.35 to Rs.317.75 , Gland increased by Rs.48.65 to Rs.1756.95, Cipla increased by Rs.31.60 to Rs.1200.20, Metropolis increased by Rs.38.10 to Rs.1658.65, Divi's Lab increased by Rs.73.40 to Rs. 3760.05 remained.

Attractiveness in small, mid cap stocks

Market breadth turned negative with profit booking in many stocks against funds, sportsmen, investors opting for small, mid-cap, cash stocks despite softening at the end of index based volatility over the weekend. Out of the total 3814 scrips traded in BSE, the number of gainers was 1752 and the number of decliners was 1948.

FPI/FII net purchases of Rs.2625 crore

FIIs' net purchase of shares worth Rs.2625.21 crore in cash today-Friday. A total of Rs.6208.06 crore was sold against a total purchase of Rs.8833.27 crore. While DII-domestic institutional investors had a net purchase of shares worth Rs.134.46 crore in cash today. A total of Rs.5956.13 crore was sold against a total purchase of Rs.6090.59 crore.

Interest rate hikes in Europe firm on signs of a break

Asian markets were broadly soft amid concerns over a new outbreak in China. The Hang Seng of the Hong Kong stock market fell 351.42 points to 17559.42, the CSI 300 index fell 23.51 points to 3538.01. However, Japan's Nikkei 225 index increased by 173.70 points to close at 33625.53. While the European Central Bank's Lagarde signaled a pause in interest rate hikes, European markets strengthened.

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