BSE m-cap at new record on FPI frenzy
₹300 trillion during intraday trades on Wednesday, helped by FPI buying and broader market gains. The market capitalization of 5,261 companies (excluding DVRs, REITs, InVITs, ETFs and partly paid shares) crossed the ₹300-trillion level in intraday trade, though they closed below the mark at ₹299.9 trillion. Foreign portfolio investors bought a provisional ₹1,603.15 crore even as domestic institutions booked profits and sold a provisional ₹439 crore.
The Sensex on Wednesday ended 0.05% down at 65446.04, though Nifty, continuing its winning spree, ended with gains of 0.05% at 19398.50. Maruti Suzuki India, IndusInd Bank, Tech Mahindra, HUL and ITC were top gainers on the Sensex. The broader markets also ended with gains and S&P BSE midcap and Smallcap index scaled fresh highs and ended with gains, too.
Auto, fast moving consu-mer goods, and oil and gas stocks saw buying interest. Auto stocks remained in the limelight after new launches by the companies. Hero launched a premium 440cc bike in collaboration with Harley Davidson while Bajaj Auto, too, has introduced a 400cc premium bike with Triumph.
Maruti shares jumped to an all-time high and analysts attributed the same to the company introducing its premium multi-purpose vehicle Invicto. The global markets such as Europe and Asia, however, were weak. Devarsh Vakil, deputy head - Retail Research, HDFC Securities, said investors were waiting for release of private surveys on services activity in China and Japan.
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