Profit booking Sensex fell 580 points to 43600

Nifty spot down 166 points to 12,772: Bankex down 940 points
FPIs / FIIs buy Rs 1180 crore in cash: DII sells shares worth Rs 2855 crore in cash

The second-third wave of the global corona transition has begun. With global cases of global lockdown taking place in the US, Europe, and Asia over concerns over rising cases, Indian stocks are witnessing a historic boom in global markets today. Index-based gaps fell as stocks outperformed their overbought positions. On the global front, trading in Indian stock markets started with a softening in the markets of Europe, America, and Asia. Of course, the deceptive bullish Sensex 44230 and Nifty 12963 reached new highs. Despite claims by vaccine research companies that corona vaccine research is yielding good results in various countries to prevent coronavirus infection, the crisis in the case is still there and the US and European markets are softening today amid concerns that the vaccine may not achieve 100% success. The Sensex fell 580.09 points to 43,599.96 and the Nifty spot fell 166.55 points to close at 12,717.70 as overbought positions in Indian stock markets eased in special banking-finance stocks. The US dollar had gained 7 paise to Rs 74.26 against the rupee. International crude oil prices also declined, with Brent crude falling 39 cents to 43 43.95 and Nymex crude falling 59 cents to close at .2 41.26 in the evening trade.

Sensex rebounds after initial softening, setting a new record of 44,230, falling 580 points in the last hour to 43,600

Trading started today with caution behind global markets. The Sensex opened at 43,902.24 against the previous close of 44,180.05, falling to 43,899 on profit-booking in banking-finance stocks with Reliance Industries and Bharti Airtel. The fall in the fund's FMCG stocks with ITC, Nestle India, Hindustan Unilever, TCS, Tata Steel, Titan Company, Bajaj Finserv, NTPC among others increased to 44,230 new records. In the last hour, banking-finance stocks, including State Bank of India, Axis Bank, HDFC Limited, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC Bank, Kotak Mahindra Bank, Offloading and Tech Mahindra, Bharti The sell-off fell to 43511.18, falling 580.09 points to close at 43599.96.

The nifty spot breaks 167 points at 12976 after making new history after initial caution

NSE's Nifty spot opened at 12,839.50 against the previous close of 12,938.25 and reached 12863 in early caution. From the downtrend, attractions including Tata Steel, TCS, Titan, Nestle India, ITC, Power Grid Corp, NTPC, Britannia rose to a new high of 12963. HDFC Life, Hindalco, Eicher Motors, Adani Ports, Bharti Airtel, Shree Cements, Asian Paints, UPL, among others, fell by 166.55 points to close at 12,771.70.

Funds eased overbought position in Nifty: 

Bank Nifty futures fell from 29,756 to 28,858 Nifty-based funds in derivatives today eased their overbought position. The Nifty November futures opened at 12,857.70 against 12,957.25, fell to 12,753 and reached 12,976.25, ending at 12,77.40. Bank Nifty November futures opened at 39,375.50 against 29,756.40, fell to 29,608 and closed at 28,820, ending at 28,858.

Technically Nifty Near Trend Downward Reversal: 

Closed above 12,965 Required for New Long Position: 12385 SupportTechnically the near trend in the Nifty spot is now downward reversal. The new long position in the Nifty in the near term is shown to take only after the Nifty spot closes above 12,965. While the strong support level is showing 12,385.

Banking stocks rebound: Federal, State Bank, RBL, Axis, ICICI, HDFC Bank

In banking stocks today, funds carried out extensive offloading as if the bullish trade had begun to falter. Federal Bank down Rs 3.30 to Rs 58.60, State Bank of India down Rs 12.30 to Rs 239.75, RBL Bank down Rs 9.40 to Rs 211.85, Axis Bank down Rs 25 to Rs 611.20, ICICI Bank down Rs 19.10 478.35, Citi Union Bank fell by Rs 6.45 to Rs 191.60, Bandhan Bank fell by Rs 9.10 to Rs 352.45, HDFC Bank fell by Rs 34.20 to Rs 1274.30, IndusInd Bank fell by Rs 10.80 to Rs 817.70, Kotak Bank fell by Rs 8.95. .1821.20 remained. The BSE Bankex Index fell 939.36 points to close at 33,205.95.

Extensive sell-off in finance stocks too: 

Lakshmi Vilas Bank, IIFL, BF Invest, Canfin, Care ratings down Funds were also widely sold in finance stocks today. In the frustration of the decision to merge Lakshmi Vilas Bank with DBS Bank, the stock fell by Rs 2.45 to Rs 9.95, IIFL Finance by Rs 8.50 to Rs 115.85, BF Invest by Rs 15.30 to Rs 268. 459.15, Care rating down Rs 18.10 to Rs 428, Spandana down Rs 28.70 to Rs 748.10, L&T Finance Holding down Rs 2.40 to Rs 71.15, Muthoot Fin down Rs 14.10 to Rs 436.45, ICICI Prudential down Rs. HDFC Life fell by Rs 19.05 to Rs 646.05, Bajaj Finance by Rs 121.30 to Rs 4534.10, HDFC AMC by Rs 45.70 to Rs 2424.80 and HDFC Limited by Rs 38.90.

Profit booking in healthcare stocks: Granules, Piramal Enter, Haykal, FDC, Eris, Vimata, Fermenta, Unichem declined

Funds were to be sold profitably in shares of healthcare-pharmaceuticals companies. Granules India fell by Rs.12.80 to Rs.378.30, Piramal Enterprise by Rs.41.90 to Rs.1393.80, Hikeal by Rs.5.05 to Rs.170, FDC by Rs.9.25 to Rs.321.60, Eris by Rs.14.05. 7.40 to Rs. 318.70, Torrent Pharma to Rs. 44.85, Rs.

Consumer durables stocks rise:

 Blue Star, Oriental Electric, Crompton, Whirlpool, Titan, Volta's rise Shares of consumer durables companies were up today amid reports of good demand for consumer durables during the festive season. Blue Star rose by Rs 16.35 to Rs 730.95, Orient Electric by Rs 4.20 to Rs 226.85, Crompton by Rs 4.15 to Rs 300.15, Whirlpool by Rs 26.75 to Rs 2144, Titan by Rs 12.75 to Rs 1292.40, Volta. 3.60 to Rs 774, Symphony was up to Rs 2 to Rs 840.10. The BSE Consumer Durables Index rose 196.29 points to close at 25972.68.

Attraction in IT-Telecom stocks: TV18, Tata Comm., TCS buyback approval, Coforge, Idea rise

IT-Software Services, Telecom, Media stocks were the favorites today. TV18 Broadcast rose by Rs 1.45 to Rs 30.60, Tata Communications by Rs 14.40 to Rs 1007.40, Sun TV by Rs 4.10 to Rs 421.70, Shares of TCS rose by Rs 11.15 to Rs 2637.05.

The selective rise in capital goods stocks: Graphite, BEL, Carborundum, Lakshmi Machine, Finolex Cables, Thermax

Capital goods-power stocks were the favorites today. Graphite up Rs 26.40 to Rs 211.35, BEL up Rs 6.45 to Rs 103.10, Carborundum up Rs 14.55 to Rs 335.95, Lakshmi Machine Works up Rs 168.35 to Rs 4370.05, Thermax up Rs 17.70 to Rs 845.15, Bharat Forge .10.65 to Rs. 510.45.

Small, Mid Cap stocks start offloading: MarketBreadth Negative: 1436 stocks close negative, 298 stocks bullish circuit

Market breadth remained negative as small, mid-cap, cash stocks started selling broadly today. Out of the total 2938 scrips traded on the BSE, the number of decliners was 1436 and the number of gainers was 1322. The only seller in 189 stocks had a bearish lower circuit against the bullish circuit of only buyers in 298 stocks.

Net purchase of Rs 1180 crore in FPIs / FII cash: Net sale of Rs 2855 crore shares in DII cash

FIIs-Foreign Institutional Investors-Foreign Portfolio Investors-FPIs made a net purchase of Rs 1,180.61 crore in cash today-Thursday. Of this, a total of Rs 9671.44 crore was sold against a total purchase of Rs 10,825.05 crore. DII-domestic institutional investors today saw a net sale of Rs 2,854.94 crore in cash. A total of Rs 6017.01 crore was sold against a total purchase of Rs 3162.07 crore.