Crashes in SME, small cap stocks: Sensex rises 66 points to 73872 on attractiveness in banking, oil stocks

Ready to burst bullish bubble in SME stocks as a sign of SEBI tightening?

MUMBAI: Sensex, Nifty based markets continued to create new record highs today with banking-finance frontline stocks hitting new record highs along with oil-gas stocks. But with the risk of overvaluation rising and the start of March and the recent push by mutual funds regulator SEBI to provide investors with more information on risks in the case of small cap funds and now a sign that SEBI is gearing up to get tougher to curb unbridled speculation in SME stocks, many SMEs, small caps Stocks were hit by heavy selling by players, operators and funds. Funds booked profits in IT-software services, technology stocks along with automobiles, consumer durables, healthcare stocks. The Sensex today traded in the range of 73990 to 73474 and finally rose 66.14 points to close at a new high of 73872.29. While the Nifty 50 spot index created a new record high of 22440.90, it closed at a new record high of 22405.60 after increasing by 27.20 points. Domestic Institutional Investors (DIIs) continued to buy heavily in stocks against foreign portfolio investors' selling in stocks. Along with PSU stocks, funds were being invested in selected insurance company stocks. In the global markets, the Nikkei 225 index of Japan's Tokyo stock market crossed the 4000 mark for the first time and reached a new high.

Reliance surges to new high of Rs 3024: ONGC, BPCL, GAIL, Petronet attract

The BSE Oil-Gas index rose 532.36 points to close at 28881 as funds resumed heavy buying in oil-gas stocks today, led by Reliance Industries. GAIL India increased by Rs.6.50 to Rs.190.85, Petronet LNG increased by Rs.9.20 to Rs.291.10, ONGC increased by Rs.7.35 to Rs.279.20, BPCL increased by Rs.15.70 to Rs. 640.65, Indraprastha Gas by Rs.10.95 to Rs.446.60, Indian Oil Corp by Rs.3 to Rs.175.20, HPCL by Rs.6.30 to Rs.525.10, Reliance Industries by Rs.3024. 80 reached a new high and finally increased by Rs.30.75 to Rs.3011.60.

SME IPO index falls 1527 points: Gaps in many SME stocks

In the SME segment, there was panic selling in many SME stocks today as the possibility of SEBI framing new strict rules for the SME segment started to be discussed in the market after the small cap funds are being inflated without valuation in the stocks of the listed companies. The BSE SME IPO index fell by 2.57 percent or 1526.58 points to 57875.70. Many stocks, including SVG Enterprises, IT Consumer, Ashrafi Hospitals, Mish Designs, Technogreen, Greatex Corporation New Swan, Sudarshan, Swasthik Plast, were among the losers.

IT Index tumbles 307 points: Cressanda, Kelton Techno, Black Box, 63 Moons fall

IT-Software Services, Technology stocks again witnessed massive profit booking today. So the BSE IT index fell by 306.76 points to close at 37981.85. Cressanda Solutions fell by Rs.1.20 to Rs.20.18, Kelton Technology by Rs.6.40 to fall to Rs.120.40, Black Box by Rs.12.70 to fall to Rs.261.30, 63 Moons Technology by Rs.17.50 Rs.459.05, Orion Pro gained Rs.80.80 to Rs.2178.35, Axiscades fell by Rs.17.90 to Rs.640.70, Persistent fell by Rs.104.85 to Rs.8467.05, TCS Rs. 25.30 down to Rs.4081.60, HCL Technology down by Rs.9.50 to Rs.1636.85, Wipro down by Rs.2.40 to Rs.520.25, Infosys down by Rs.17.35 to Rs.1637.85 were

In auto stocks, Tata Motors demerger into two companies: Bajaj Auto rose by Rs.162 to Rs.8205: Cummins, Bosch rose

Automobile stocks witnessed a mixed trend today. Sundaram fell by Rs.37.90 to Rs.1058.15, Eicher Motors fell by Rs.108.10 to Rs.3752.10, Tube Investments fell by Rs.103.30 to Rs.3649.25, Mahindra & Mahindra fell by Rs.34.25 It was Rs.1926.80. While Bajaj Auto increased by Rs.162.40 to Rs.8205.15, Cummins India increased by Rs.42.30 to Rs.2780.10, Bosch increased by Rs.316.90 to Rs.29,331.05, MRF increased by Rs.599.85. increased to Rs.1,46,150. Tata Motors fell by Rs 1.20 to Rs 987.20 amid reports of demerger of commercial vehicles and passenger vehicles.

Selective rally in banking stocks: Tata Investments, Axis Bank, ICICI Bank, HDFC AMC rose

Funds were in selective buying today in banking-finance stocks. Axis Bank increased by Rs.9.90 to Rs.1106.25, ICICI Bank increased by Rs.8.35 to Rs.1091.80, Bank of Baroda increased by Rs.1.50 to Rs.273.30, IndusInd Bank increased by Rs.4.60 increased to Rs.1531.10. The BSE Bankex index rose 207.65 points to close at 53939.04. Among financial services stocks, Tata Investment Corporation rose by Rs.400.80 to Rs.8417.65, Daulat Algotech rose by Rs.3.35 to Rs.76.95, JSW Holdings rose by Rs.282.20 to Rs.6900, Karnataka Bank rose by Rs.8. 55 up to Rs.245.85, Piramal Enterprises up by Rs.31.65 to Rs.966.25, HDFC Life up by Rs.17.85 to Rs.610.30, HDFC AMC up by Rs.76.60 to Rs.3844.25 were

Profit booking in healthcare stocks: Offloading in Sigachi Industries, Rainbow Child, Gland, Global Health, Alembic Pharma

Funds continued to book profits in healthcare stocks today. Sigachi Industries fell by Rs.11.15 to Rs.70.82, Rainbow Child Hospital fell by Rs.102.55 to Rs.1199.30, Gland Pharma fell by Rs.88.05 to Rs.1706.60, Global Health fell by Rs.63.65 fell to Rs.1257.10, Alembic Pharma fell by Rs.49.80 to Rs.1000.35, Fortis Healthcare fell by Rs.18.40 to Rs.384.15, Glenmark Life fell by Rs.36.80 to Rs.809.10 .

Offloading of funds, operators wide gaps in small, mid cap, cash stocks: 2565 stocks closed negative

Funds, operators today offloaded in several small, mid-cap, cash stocks with wide gaps leaving the market breadth extremely poor. Out of total 4085 scrips traded in BSE, the number of decliners was 2565 and the number of gainers was 1388.

FPI/FII's net sale of shares of Rs.564 crore : DII's net purchase of Rs.3543 crore

Foreign Portfolio Investors - FPIs, FIIs had a net sale of Rs.564.06 crore worth of stocks in cash today-Monday. A total of Rs.14,053.25 crore was sold against a total purchase of Rs.13,489.19 crore. While DII-domestic institutional investors had a net purchase of Rs.3542.87 crore worth of shares in cash today. A total of Rs.8420.24 crore was sold against a total purchase of Rs.11,963.11 crore.