Nifty set a new record of 22249 and finally fell 142 points to 22055.

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Ban on net sale for 30 minutes at open and close in China boosted

MUMBAI: Ahead of Lok Sabha elections, funds, operators, players today called a bang as they started pocketing huge profits in small, mid-cap stocks and ended six consecutive days of index-based bullishness. With a number of small, mid-cap stocks overvalued and many funds wary of a possible major correction before the end of March, players eased the bullish trade today. While among the intensive measures taken by the government to rescue China from the economic crisis on the global front, today the Chinese regulatory authority announced a ban on net sales by institutional investors in the first 30 minutes of market opening and 30 minutes before closing, even after the week's record rise in the Chinese stock markets, funds eased into caution.

Sensex falls to 72623 from high of 73267 : Nifty 22249 new history

IT-software services, technology stocks and power-capital goods stocks saw huge profit booking, while auto, consumer durables, oil-gas stocks were selling. Earlier today, Nifty hit a new all-time high of 22249.40 on buying in metal-mining stocks Tata Steel, JSW Steel along with banking stocks State Bank, IndusInd Bank, ICICI Bank as well as Reliance, Sun Pharma, Tata Consumer, Mahindra, Maruti. Which finally decreased by 141.90 points to close at 2055.05. While the Sensex reached 73267.80 in the beginning, it fell by 434.31 points to close at 72623.09.

IT Index lost 593 points: Emphases lost Rs.116, Infosys lost Rs.28, HCL lost Rs.29

The BSE IT index fell 592.82 points to close at 37990.34 due to massive selling of funds in IT-software services, technology stocks today. Datamatics fell by Rs.17.75 to Rs.595.85, Mastec fell by Rs.77.75 to Rs.2980, Cient fell by Rs.49.30 to Rs.1963.95, L&T Technology fell by Rs.131.15 to Rs.5279. .70, Wipro fell by Rs.10.65 to Rs.521.15, HCL Technology fell by Rs.28.65 to Rs.1634.20, Tech Mahindra fell by Rs.22.45 to Rs.1297.25, Infosys fell by Rs.28.10 Decreased to Rs.1656.05.

Oil PSU stocks bounce back: BPCL falls by Rs.25, HPCL by Rs.20

Oil-gas PSU stocks were hammering and gapped today as bullishness reversed. BPCL fell by Rs.24.50 to Rs.633.35, HPCL fell by Rs.20.30 to Rs.542.70, IOC fell by Rs.4.40 to Rs.184.50, ONGC fell by Rs.3.75 to Rs.272. 90, Linde India fell by Rs.56.70 to Rs.5635. While Reliance Industries initially rallied to a high of Rs.2977.05 and finally fell by Rs.2.55 to Rs.2938.20. The BSE Oil-Gas Index fell by 516.67 points to close at 28,574.65.

Profit Booking in GMR Airports, BHEL, Rail Vikas, KPIL, NTPC, Larsen

Power-capital goods stocks witnessed massive profit booking today. GMR Airports fell by Rs.5 to Rs.85.68, Sona BLW fell by Rs.23.60 to Rs.615.35, BHEL fell by Rs.7.25 to Rs.223.75, Rail Vikas fell by Rs.5.20 to Rs.262 , KPIL fell by Rs.15.35 to Rs.909.90, CG Power fell by Rs.6 to Rs.431.30, Praj Industries fell by Rs.6.95 to Rs.504.80, Larsen & Toubro fell by Rs.35.20 to Rs. .3318.20, Lakshmi Machine Works fell by Rs.131.35 to Rs.14,575.70. The BSE Capital Goods Index closed down 688.51 points at 55078.23.

Funds buying in banking stocks: State Bank up Rs.12 to Rs.772: Tata Inv., JSW Holdings rose

A selection of funds were buying today in banking-finance stocks. State Bank of India increased by Rs.12.35 to Rs.772.45, Bank of Baroda increased by Rs.3 to Rs.276.20, IndusInd increased by Rs.9.30 to Rs.1513.65, ICICI Bank increased by Rs.5.80 It was Rs.1054.60. Along with this, Tata Investment Corp increased by Rs.552.70 to Rs.6402.40, JSW Holdings increased by Rs.372.75 to Rs.6725, General Insurance increased by Rs.23.30 to Rs.430.90, Piramal Enterprises increased by Rs.46.10 increased to Rs.932.40, Tourism Finance increased by Rs.11 to Rs.231.05, One97 Communication increased by Rs.18.80 to Rs.395.25, Cams increased by Rs.107.70 to Rs.2967.85.

Overvaluation gaps in small, mid-cap stocks: Market breadth very poor: 2451 stocks close negative

Overvaluation in Sensex, Nifty based stocks today especially in small, mid cap, cash stocks made the market breadth very bad as funds, operators, players offloaded massively in many stocks. Out of the total 3942 scrips traded in BSE, the number of decliners increased from 1966 to 2451 and the number of gainers decreased from 1877 to 1391.

Metal stocks shine on China recovery: Tata Steel, JSW Steel, SAIL rise

Select funds were buying into metal-mining stocks today in anticipation of a recovery from the government's war-torn measures to stem the fall in China's markets. Tat Steel rose by Rs.3.65 to Rs.144.70, JSW Steel rose by Rs.18.45 to Rs.839.05, SAIL rose by Rs.2.45 to Rs.132.65, Jindal Steel rose by Rs.10.80 to Rs. .770.75, Hindalco rose by Rs.3.60 to Rs.515.40.

FPI/FII's net purchase of shares of Rs.284 crore : DII's net sale of Rs.412 crore

Foreign Portfolio Investors - FPIs, FIIs had a net purchase of Rs 284.66 crore in cash today on Wednesday. A total of Rs.16,796.01 crore was sold against a total purchase of Rs.17,080.67 crore. While DII-domestic institutional investors saw net selling of shares worth Rs.411.57 crore today. A total of Rs.10,563.22 crore was sold against a total purchase of Rs.10,151.65 crore.

Investors' asset-market capitalization fell by Rs.2.63 lakh crore to Rs.388.87 lakh crore

After setting a new record in the index based Nifty, the investors' wealth ie aggregate market capitalization of the listed companies in BSE fell by Rs 2.63 lakh crore to Rs 388.87 lakh crore in a single day due to sell off in small and mid stocks along with retreat.

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