Auto stocks rise ahead of festive season
Indian stock markets :Indian stock markets created new history on the back of a firm global market, moderation in inflation in China as well as signs of an uptick in economic growth as a result of improving credit conditions and global central banks now expected to lift the brakes on interest rates. Increase in rates. A record bullish week was observed. At the end of the week, the funds closed the Sensex with a gain of 319.63 points at a new all-time high of 67838.63 and the Nifty 50 spot index closed with a gain of 89.25 points at a new record high of 20192.35.
Funds today saw heavy pre-festive buying in automobile stocks, IT-software services, HCL Technology, TCS, Wipro, Tech Mahindra as well as technology stocks led by Tata Motors, Mahindra & Mahindra as well as Bharti Airtel. Sensex touched a new intra-day high of 67927.23 and Nifty touched a new high of 20222.45. The Sensex has closed positive for the 11th consecutive day since 2007. Due to the impact on supply including Libya and production cuts including Russia, international crude oil prices continue to rise, Brent crossed the level of $ 94 and Nymax-New York crude crossed the level of $ 90 at $ 90.61. Has reached.
Auto stocks rise ahead of festive season
Funds bought heavily on the news of fund rating increase on auto stocks with expectations of a big jump in vehicle sales of automobile companies ahead of the festive season. Shares of Bajaj Auto closed Rs 302.85 higher at Rs 5145 after Bank of America gave buy rating and price target of Rs 5550. TVS Motor rose by Rs 37.30 to Rs 1501.75, Mahindra & Mahindra rose by Rs 34.85 to Rs 1600.90, Hero MotoCorp rose by Rs 64.90 to Rs 3063.75, Ashok Leyland rose by Rs 3.25 to Rs 183.10. Tata Motors rose by Rs 9.80 to Rs 634.15, Bosch rose by Rs 214 to Rs 19,695, Eicher Motors rose by Rs 42.50 to Rs 3426.50, Cummins India rose by Rs 18.70 to Rs 1745, Maruti Suzuki rose by Rs 38.55 to Rs 10,527.85. BSE Auto Index closed 543.41 points higher at 37161.01.
rise in IT shares
Today, BSE IT index closed 253.51 points higher at 33468.30 due to widespread buying by funds in IT-software services, technology stocks. Moschip Technology rose by Rs 5.69 to Rs 95.02, Imudra rose by Rs 23.40 to Rs 492, Intellect Design rose by Rs 31.35 to Rs 717.65, Tanla Platform rose by Rs 39.75 to Rs 1061. .65, Coforge up by Rs 142.10 at Rs 5600, HCL Technology up by Rs 21.30 at Rs 1304.90, Mphasis up by Rs 37.10 at Rs 2499, Tech Mahindra up by Rs 19.30 at Rs 1298.95, TCS up by Rs 40.70 at Rs 3599.85, Wipro up by Rs 4.65 Rs. It increased to Rs 441.10.
Attraction in healthcare stocks
Funds continued to favor healthcare-pharmaceuticals stocks today. Stride Arcolab rose by Rs 25.65 to Rs 494.10, Sequent Scientific rose by Rs 3.95 to Rs 91.85, AstraZeneca rose by Rs 183.85 to Rs 455, Thyrocare rose by Rs 22.40 to Rs 567.35, Glaxo rose by Rs 60.85 to Rs 1599.35. , Poly Medicure increased by Rs 55.15 to Rs 1513.90, Newland Labs increased by Rs 131.50 to Rs 3692, IPCA Labs increased by Rs 29.65 to Rs 930.25, Gland increased by Rs 36.30 to Rs 1696.95.
Bankex increased by 215 points
Banking-finance stocks saw an increase in buying by high net worth investors in funds. The price of HDFC Bank increased by Rs 20.40 to Rs 1661.90, the price of Axis Bank increased by Rs 6.10 to Rs 1026.80, the price of State Bank increased by Rs 1.20 to Rs 598.40. BSE Bankex index closed 215.76 points higher at 51844.91.
Profit booking in small and mid caps
Along with Nifty, Sensex also hit a new record high and in small, mid-cap stocks, funds booked profits in many stocks with portfolio reshuffle and rapid trading in new shares, compared to market value buying. Breadth was marginally positive. Of the total 3786 stocks traded on BSE, the number of gainers was 1869 and the number of decliners was 1778.
