Sensex ends 1,800-point rout, up 690 points to 71,060

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MUMBAI: Local funds, local institutional investors and maharathis faced hammering by foreign portfolio investors ahead of the end of the January trend in futures and options (F&O) tomorrow on Thursday as global markets rallied with stimulus measures by China allowing banks to hold lower reserves. However, the index-based volatility in the two-way fluctuating movement today finally put the market back into the positive zone with a sharp correction. In early trade, gains in IT, banking, FMCG frontline stocks led the Sensex to close by 525 points to close at 70895 against the previous close of 70370.55, after recovering from the highs, the surge was washed away and settled at a low of 70265. From the decline, it rose again at one stage by a jump of 779.06 points to reach 71149.61 and finally increased by 689.76 points to close at 71060.31. Thus there was an upheaval of 1800 points in Sensex today. While the Nifty 50 spot closed at 21238.80 in the beginning, it rose to 21482.35 and came back down to 21137.20 and finally closed by 215.15 points at 21453.95. Today there was a ruckus of 625 points in Nifty.

Auto stocks rally

BSE Auto Index rose 538.52 points to close at 4,2541.26 today as funds made selective purchases with short covering in stocks of automobile companies. Cummins India increased by Rs.58.90 to Rs.2159.75, Mahindra & Mahindra increased by Rs.33.85 to Rs.1627.55, Bajaj Auto increased by Rs.120.80 to Rs.7211.40, Tata Motors increased by Rs.10.50 increased by Rs.810.90, Maruti Suzuki increased by Rs.106.40 to Rs.9970.10.

IT stocks advance

The BSE IT index jumped 478.68 points to close at 37663.74 as funds again bought aggressively in IT-software services, technology stocks today. HCL Technology increased by Rs.52.35 to Rs.1575.20, Tech Mahindra increased by Rs.42.15 to Rs.1407.75, Coforge increased by Rs.166.50 to Rs.6366.60, L&T Technology increased by Rs.136.70 increased to Rs.5498.70.

Metal-mining stocks rose

Funds were level with short covering metal-mining stocks today as China allowed banks to hold lower reserves as part of stimulus measures and signaled a further stimulus package. SAIL rose by Rs.6.20 to Rs.115.05, NMDC rose by Rs.9.30 to Rs.211.80, Hindalco rose by Rs.23.50 to Rs.565.40, Tata Steel rose by Rs.5.05 to Rs.135. .15 remained. The BSE Metal Index rose 807.96 points to close at 25996.92.

Small Cap Mid Cap Index Leaps

Out of the total 3884 scrips traded in BSE, the number of gainers was 2406 and the number of decliners was 1393. The BSE Small Cap Index rose 745.96 points to close at 44124.36 and the BSE Mid Cap Index gained 636.44 points to close at 37884.36.

Investors' wealth increased by Rs.5.21 lakh crore

Due to the boom, investors' wealth ie aggregate market capitalization of companies listed in BSE increased by Rs.5.21 lakh crore to Rs.371.18 lakh crore in a single day.

FII's sale of Rs.6935 crore

FIIs had a net sale of Rs.6934.93 crore in cash today-Wednesday. A total of Rs.34,165.86 crore was sold against a total purchase of Rs.27,230.93 crore. While DII-domestic institutional investors had a net purchase of Rs.6012.67 crore shares today.


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