Nifty rose 75 points to hit a fresh high of 22197

Bullish Sixer: Aggressive buying of local funds for sixth consecutive day

MUMBAI: In contrast to the cautious easing in global markets amid China's economic uncertainty, Indian stock markets saw six-point gains today. Today, funds, maharathis led by private bank stocks and power stocks took Sensex to a new high by crossing the level of 73000 again. When Nifty for the first time touched the level of 22200 Kudavi brought a new historical peak of 22215. Amid the preparations for the Lok Sabha elections, expectations of massive measures by the government to reduce the inflation rate in India and the strengthening of corporate India's performance, the start of re-rating of stocks of companies with good fundamentals saw an increase in funds' attraction to stocks. Funds today bullish in private bank stocks including HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and attractiveness in power stocks. Sensex crossed the 73000 level to reach 73130.69 and finally closed at a height of 73057.40 with an increase of 349.24 points. While the Nifty 50 spot index created a new record high of 22215.60 and finally closed at a new high of 22196.95 after increasing by 74.70 points.

Bankex jumps by 649 points: HDFC Bank rises by Rs.37 to Rs.1454: Boom in Axis, Kotak Bank

In banking stocks, funds bought heavily in private bank stocks today. HDFC Bank increased by Rs.36.65 to Rs.1453.75, Axis Bank increased by Rs.24.70 to Rs.1088.30, Kotak Mahindra Bank increased by Rs.31.60 to Rs.1763.10, IndusInd Bank increased by Rs.21.55 increased to Rs.1504.35, ICICI Bank increased by Rs.5.25 to Rs.1048.80, Bank of Baroda increased by Rs.2.45 to Rs.273.20. The BSE Bankex index rose 649.27 points to close at 53441.37.

One97 Paytm up five per cent consecutively: Tourism Finance, Prudential Advisors, Hudco rise

Funds also bought heavily in financial services and other banking stocks today. One97 Communications-Paytm rose Rs 17.90 to Rs 376.45 in the upper circuit of a sustained 5 per cent as the stock gained buying on RBI's clarification that Paytm will continue to operate its app, QR code, soundbox and card machines beyond March 15, 2024. had been Tourism Finance increased by Rs.10.45 to Rs.220.05, SMC Global increased by Rs.5.70 to Rs.134.35, Prudent Advisor increased by Rs.52.25 to Rs.1398, HUDCO increased by Rs.5.75 to Rs.198. .70, Monarch net worth increased by Rs.21.45 to Rs.649.95, Tata Investment Corp increased by Rs.131.40 to Rs.5849.70.

Profit booking in IT stocks: 63 Moons, Nucleus, Birla Soft, Kelton, Cient, Sonata break

In IT-Software Services, Technology stocks today, many stocks saw their prices fall as funds booked massive profits. 63 Moons Technology fell by Rs.26.90 to Rs.511.65, Nucleus Software fell by Rs.46 to Rs.1265, Birla Soft fell by Rs.24.65 to Rs.806.75, Sonata fell by Rs.21.30 to Rs.820. 95, Kelton fell by Rs.2.20 to Rs.99.12, Genesis International fell by Rs.9.55 to Rs.496.60, Cient fell by Rs.38.45 to Rs.2032.40, TCS fell by Rs.71.65 to Rs. 4029.95, Coforge fell by Rs.95.95 to Rs.6657.15. The BSE IT index fell by 358.04 points to close at 38583.16.

Small, mid-cap, cash stocks rally breaks: 1,966 stocks close negative due to profit booking by operators

The bullishness in small, mid cap, cash stocks came to a halt today as cautious funds, investors booked profits in many stocks and the market breadth became negative. Out of total 3931 scrips traded in BSE, the number of decliners was 1966 and the number of gainers was 1877.

FPI/FII's net sale of shares of Rs.1335 crore : DII's net purchase of Rs.1491 crore

Foreign Portfolio Investors - FPIs, FIIs had a net sale of Rs.1335.51 crore in cash today on Tuesday. A total of Rs.16,206.19 crore was sold against a total purchase of Rs.14,870.68 crore. While DII-domestic institutional investors had a net purchase of Rs.1491.33 crore shares today. A total of Rs.9173.74 crore was sold against a total purchase of Rs.10,665.07 crore.

Property sales led realty stocks like Swan Ng, Macrotech Developers, DLF, Phoenix to gain.

The fund's realty stocks were drawn on reports of a strong growth in property sales in Mumbai-Maharashtra and a good response to property sales in other parts of the country as well. Swan Ng rose by Rs 19.30 to Rs 750, Macrotech Developers rose by Rs 23.30 to Rs 1117.10, DLF rose by Rs 15.35 to Rs 864.05, Phoenix Mills rose by Rs 33.95 to Rs 2817. .60, Godrej Properties increased by Rs.16.35 to Rs.2296.70, Oberoi Realty increased by Rs.9.40 to Rs.1309.75.

Funds moderate bullish trade in auto stocks: Hero Motocorp falls by Rs.192, Bajaj Auto by Rs.218

In automobile stocks too, funds eased bullish trade today by easing overbought positions. Hero Motocorp fell by Rs 192.35 to Rs 4661.15, Bajaj Auto fell by Rs 217.95 to Rs 8292.55, Apollo Tires fell by Rs 10.40 to Rs 521.30, Eicher Motors fell by Rs 66.60. Rs.3833.95, Cummins India fell by Rs.32.80 to Rs.2628, Maruti Suzuki fell by Rs.37.70 to Rs.3716.40. The BSE Auto Index closed down 384.86 points at 46779.27.

Investors' asset-market capitalization fell by Rs.19 thousand crores to Rs.391.50 lakh crores.

Investors' wealth i.e. aggregate market capitalization of BSE-listed companies fell by Rs 19 thousand crore to Rs 391.50 lakh crore in a single day due to profit selling in many small and mid cap stocks against Sensex, Nifty based record high.