Mumbai: On the eve of Christmas and especially before foreign fund managers go on Christmas holidays, global markets today witnessed unprecedented declines in every asset class. Global stock markets, pulses including Bitcoin, Gold and Silver, today, beyond the comprehension of many people, a major recession has started in the Indian stock markets, Sensex, Nifty were seen losing every support level in search of new lows. The stocks were in chaos among themselves. This week, with the selling of foreign funds, there was talk of big operators and maharathis playing a big role in Kadaka.
Fresh extraordinary gains were seen in capital goods, automobile, consumer durables stocks as well as IT-software services, technology stocks as well as banking stocks. No buyers were found in small, midcap, cash stocks and due to low trading volumes, prices of many stocks started collapsing like a house of cards. Sensex fell 1176.46 points to 78041.59 and Nifty 50 spots fell 364.20 points to 23587.50. With this, in the five trading days of the current week, Sensex has fallen 13, 4091.53 points from its December level of 82133.12 and Nifty 50 index has fallen 1180.80 points from its level of 24768.30. Whereas the total asset-market capitalization of investors in shares has declined by Rs 18.43 lakh crore in five days.
auto index broken
Funds gained momentum in automobile stocks today amid reports of majors exiting a big bullish trade and going bearish. Mahindra & Mahindra fell by Rs 108.65 to Rs 2906.40, Tata Motors fell by Rs 20.30 to Rs 724, Bosch fell by Rs 955.75 to Rs 34,574.40, Sundaram fell by Rs 30.45 to Rs 1088, MRF fell by Rs 187.85 to Rs 8786.65 Falling Rs 1,806.50 to Rs 1,28,022.45, Ashok Leyland fell Rs 1.95 to Rs 217.25. BSE Auto Index fell 1177.81 points to close at 51148.84.
Variance in Capital Goods Index
Selling by funds continued in capital goods stocks, while BSE Capital Goods Index fell 2138.05 points to 68557.40, BHEL fell by Rs 7 to Rs 235.25, Grindwell fell by Rs 60.10 to Rs 2029.65, Larsen & Toubro fell by Rs 82.35 to Rs 3630.60.
Bankex lost 976 points
Following heavy selling in banking stocks, the BSE Bankex index fell 976.26 points to close at 57752. IndusInd Bank fell by Rs 34.05 to Rs 930, Federal Bank fell by Rs 6.90 to Rs 194.05, Bank of Baroda fell by Rs 8.35 to Rs 239.90, Axis Bank fell by Rs 36.35 to Rs 1072.10. Canara Bank fell by Rs 3.25 to Rs 99.65, State Bank of India fell by Rs 20.30 to Rs 812.50.
IT index crashed
IT-Software Services, Technology stocks also opened fresh gaps today as funds, majors continued to execute big bullish trades. L&T Technology fell by Rs 249.95 to Rs 4837.15, Oracle Finserv fell by Rs 613.75 to Rs 12,210, Persistent fell by Rs 315.50 to Rs 6366.90, Cient fell by Rs 91.65 to Rs 1925.90, Tata Elxsi fell by Rs 91.65. Came to Rs 1925.90. ₹307.20 fell by Rs 6922.95, Tech Mahindra fell by Rs 69.70 to Rs 1685.20. BSE IT index fell 1123.25 points to close at 43608.13.
Selling in healthcare stocks
Investors in funds, healthcare stocks also continued heavy selling today. Pfizer fell by Rs 345.10 to Rs 4667, Biocon fell by Rs 14.40 to Rs 335.95, Morpen Labs fell by Rs 3.36 to Rs 79.92, Vimta Labs fell by Rs 40 to Rs 959.25, Natco Pharma fell by Rs 3.36 to Rs 959.25. up by Rs 57.90 to Rs 1418.75, Newland Lab fell by Rs 459.95 to Rs 13,970, SMS Pharma fell by Rs 11.40 to Rs 231.95.
metal index fell
Heavy selling was also seen in metal-mining stocks today, with the BSE Metal Index falling 522.96 points to close at 29624.43. Jindal Stainless fell by Rs 24.10 to Rs 716.55, Vedanta fell by Rs 14.70 to Rs 477.50, NALCO fell by Rs 5.40 to Rs 215.40, Coal India fell by Rs 9.55 to Rs 382.75, Jindal Steel fell by Rs 14 to Rs 908, Hindalco fell by Rs 5.75. Was Rs 623.75.
3044 shares closed with decline
Market sentiment remained negative as retail investors rushed to sell small and mid-cap stocks in panic due to fall in Sensex, Nifty and fall in many stocks on low volumes. Out of the total 4085 shares traded on BSE, the number of gainers decreased from 1589 to just 958 and the number of decliners increased from 2414 to 3044.
FPI sold Rs 3598 crore
Today on Friday, FIIs made a net sale of Rs 3597.82 crore in cash shares. Whereas DII-Domestic Institutional Investors made net purchases of Rs 1374.37 crore in cash today. Thus, in the five trading days this week, FPIs have recorded net sales of shares worth Rs 15,829 crore and DIIs have recorded net purchases of Rs 12,341 crore.
After loss of Rs 8.77 lakh crore, investors’ wealth stood at Rs 440.99 lakh crore.
Due to all-round selling in Sensex, Nifty and small and midcap stocks, investors’ wealth i.e. total market capitalization of BSE listed companies fell by Rs 8.77 lakh crore in a single day to Rs 440.99 lakh crore. The total asset-market capitalization of investors in stocks has declined by Rs 18.43 lakh crore in five days.
