North India Statesman
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Mumbai: The way the situation of tariff war had arisen in the beginning with Donald Trump coming to power in America, now the matter has become sour due to decisions like Shura and on the other hand, China has spent a historic huge amount of 138 billion dollars to breathe. Have decided to invest heavily. India adopted the strategy of exit and back to China while selling in its stock exchanges. Poor results of companies also had a negative impact on the market. Initially, Sensex cheated, kept Nifty in positive territory and misled investors, leading to massive selling in small and mid-cap stocks. Panic selling increased as investors suffered huge losses in their portfolios. There were signs of a major liquidity crunch in the market as funds tried to exit the stocks by creating gaps. The impact of Bank of Japan’s interest rate increase of 0.25 percent was also seen on the market.
Health of pharma stocks falls: Healthcare index falls 945 points: Solara, Artemis, Syngen fall
Many health care stocks fell today as pharmaceutical companies’ stocks deteriorated. BSE Healthcare index fell 944.65 points to close at 42198.95. Solara fell by Rs 58.20 to Rs 620.60, Artemis Medicare fell by Rs 18.40 to Rs 292.15, Innova Cap fell by Rs 62 to Rs 1008.85, Syngen fell by Rs 48.60 to Rs 65, Mannkind fell by Rs 135.70 to Rs 2497, Dr. Reddy’s Lab Down by Rs 64.65 to Rs 1224.70, Orchid Pharma down by Rs 73.95 to Rs 1224.70, Hycal down by Rs 16.50 to Rs 351, RPG Life down by Rs 94.15 to Rs 2072.50, Glenmark down by Rs 65.20, Thyrocare down by Rs 33.70 to Rs 1447.15. It came to Rs 782.60.
Sensex’s 465-point surge eventually evaporated at 330: Nifty fell to 23050 from 23347.
Shares based on Sensex, Nifty saw a misleading rise in the beginning. Sensex opened at 76455.35 against next close of 76520.38, rising 465.57 points to 6985.95 led by Hindustan Unilever, Nestle India, Infosys, TCS, ICICI Bank, Bharti Airtel, Power Grid Corp, NTPC. Tata Motors and other auto stocks including Zomato, Larsen & Toubro, Reliance Industries, Adani Ports, UltraTech Cement, Bajaj Finserv, Maruti, Bajaj Finance gave up their gains and fell as low as 76091.75 before losing 329.92 points to end at 76190.46. Were closed. , Tha Nifty 50 spot also closed at 23205.35, CBI opened at 23183.90, went up to 23347.30 and fell to 23050 and finally closed at 23092.20 with a fall of 113.15 points.
Endless gap in capital goods stocks: Kalpataru Power down by Rs 48: Schaeffler, Inox, Suzlon fall
Capital goods stocks fell today due to heavy selling by hedge funds. Kalpataru Power fell by Rs 48.10 to Rs 1057.15, Schaeffler fell by Rs 142.35 to Rs 3191.85, Inox Wind fell by Rs 6.15 to Rs 143.15, Bharat Dynamics fell by Rs 51.05 to Rs 1240.90, Siemens fell by Rs 1.76 to Rs 52.56. Fall by Rs 182.30 to Rs 5882.85, BHEL fell by Rs 5.95 to Rs 200.20, Cummins India fell by Rs 76.70 to Rs 2810.60, ABB India fell by Rs 158.90 to Rs 6169, LMW fell by Rs 392.10 to Rs 15,830. BSE Capital Goods Index fell 1198.59 points to close at 62231.16.
BSE Small Cap index fell 1143 points: Mid Cap index fell 693 points
Panic selling by retail investors and funds came to the fore on a large scale today after many stocks in small and mid-cap stocks started trading below the 200-day moving average. As a result there was an extraordinary universal uproar. BSE Small Cap Index fell 1142.78 points or 2.23 percent to 50107.51. While BSE Mid Cap Index fell 693.03 points or 1.60 percent and closed at 42715.63.
Rumors of liquidity crisis: Buyers missing in many shares: 2902 shares closed negative
As a crisis situation has started emerging in the market, many stocks are seeing a decline in prices due to the disappearance of buyers. Many investors are reportedly facing a liquidity crunch as small, mid-cap, cash stocks are stuck at high prices and there is no room for fresh investments. Panic is increasing in the market due to which bigger shocks may occur in the coming days. Out of total 4059 shares traded on BSE today, the number of declining shares was 2902 and the number of gaining shares was only 1028.
Big loss in auto stocks: Uno Minda falls by Rs 45 to Rs 923: TI, Exide, Mahindra fall
Funds hit automobile stocks hard today as a new phase of recession begins. BSE Auto Index fell 859.23 points to close at 49967.20. Uno Minda fell by Rs 45.60 to Rs 923, TI India fell by Rs 128.85 to Rs 3236.40, Exide fell by Rs 14.30 to Rs 369.15, Sundaram Fasteners fell by Rs 39.90 to Rs 1040. Mahindra Apollo Tire fell by Rs 84.35 to Rs 2801, Tata Motors fell by Rs 15.90 to Rs 423, Tata Motors fell by Rs 18.65 to Rs 733.90, Hero MotoCorp fell by Rs 49.95 to Rs 4050.75, Maruti Suzuki fell by Rs 73.50 to Rs 11. 972.80.
Net sales by FPIs/FIIs in cash worth Rs 2758 crore: Net purchases by DIIs worth Rs 2402 crore.
Foreign portfolio investors – FPIs, FIIs made a net sale of shares worth Rs 2758.49 crore in cash today Friday. There were sales of Rs 13,988.96 crore against total purchases of Rs 11,230.47 crore. Whereas DII-Domestic Institutional Investors made net purchases of Rs 2402.31 crore in cash today. There were sales of Rs 10,433.10 crore against total purchases of Rs 12,835.41 crore.
The asset-market capitalization of investors in shares declined to Rs 419.51 lakh crore from Rs 5.12 lakh crore.
With extraordinary losses in small, mid-cap stocks, as the group of funds declined in many cash stocks, the total wealth of investors, i.e. total market capitalization of BSE listed companies sank by Rs 5.12 lakh to Rs 419.51 lakh crore in a single day.
