Sensex rose 92 points to 66023

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Mumbai: US Index-based Indian stock markets rallied today with recovery in global markets as geopolitical tensions eased following the Federal Reserve's minutes hinting at no more interest rate hikes and Israel-Hamas short-term ceasefire and hostage-free deal. As the international prices of crude oil were also in favor of reduction, the positive factor for India was that the funds increased their purchases in automobile stocks and the market remained in the positive zone due to the attractiveness of choice in oil-gas, consumer durables, capital goods, healthcare stocks. However, players in small cap, cash stocks, funds started booking big profits today, giving pause to the rally. The Sensex traded between 65,665 and 66,064 in a two-way swing and ended up 92.47 points to close at 66,023.24. While the Nifty 50 spot index fluctuated between 19704 and 19826, it finally increased by 28.45 points to close at 19811.85.

Selective bullishness in IT stocks

Funds continued selective buying in IT-software services stocks today. Genesis Inter rose by Rs.59.90 to Rs.367.90, 63 Moons Technology rose by Rs.19.15 to Rs.403.10 on heavy buying of funds in anticipation of positive development, Persistent rose by Rs.103.65 to Rs.6568.10, Infosys Tech Mahindra rose by Rs.16.35 to Rs.1455.75, Tech Mahindra rose by Rs.10.40 to Rs.1215.90, TCS rose by Rs.18.05 to Rs.3528.35.

Healthcare stocks soar

Shares of healthcare-pharmaceuticals companies saw broad gains again today. Syncom Formulation rose by Rs.1.03 to Rs.10.99, Morpen Lab by Rs.3.55 to Rs.43.31, FDC by Rs.21.85 to Rs.412.10, Advance Enzyme by Rs.13.75 to Rs. .329.10, RPG Life increased by Rs.52.15 to Rs.1486, Gland increased by Rs.58.45 to Rs.1716.15. The BSE Healthcare Index rose 161.76 points to close at 29918.88.

Funds eased in banking stocks

Banking-financial services stocks saw continued profit booking as the Reserve Bank of India last week moved to increase risk weightage for unsecured loans. IndusInd Bank fell by Rs.30.55 to Rs.1471.55, Kotak Mahindra Bank fell by Rs.21.45 to Rs.1745.55, Federal Bank fell by Rs.1.40 to Rs.145.20, ICICI Bank fell by Rs.5 to Rs. .921.30, State Bank decreased by Rs.2.80 to Rs.558.60, HDFC Bank decreased by Rs.5.75 to Rs.1511.90.

Small cap, cash stocks bullish break

Market breadth turned negative as small cap, cash stocks halted the rally as widespread profit-taking sold off. Of course, funds in mid-cap stocks, high net worth investors boomed. Out of total 3830 scrips traded in BSE, the number of decliners was 2067 and the number of gainers was 1622.

Purchase of Rs.721 crore in shares of DII

FIIs sold shares worth Rs.306.56 crore in cash today-Wednesday. While DII-domestic institutional investors had a net purchase of Rs.721.24 crore shares.

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