Sensex down by nearly 100 points; Avanti Feeds gains 14 per cent, IT & Tech stocks rally
On Monday, Sensex tumbled by more than 600 points from its day’s high to close down by 97.92 points or by 0.25 per cent at 38,756.63 levels while Nifty fell by 43.40 points or 0.38 per cent to settle at 11,421.05 levels.
Broader markets outperformed as SEBI announced new regulations for multi-cap funds, making it mandatory for multi-cap funds to invest 25 per cent each in large, mid and small-cap stocks.
BSE Small-Cap index surged by 4.03 per cent while Small-Cap index gainers consisted of Ramkrishna Forgings, VIP Industries, Persistent Systems, Avanti Feeds, MCX, etc. BSE Mid-Cap index gained by 1.56 per cent and the top Mid-Cap index gainers included Mphasis Ltd, Kansai Nerolac, Oberoi Realty, Endurance Technologies, etc.
Along with realty stocks, IT & tech stocks too rallied on Monday while banking, finance, telecom, and energy stocks pulled the markets down.
Global cues remained positive as Shanghai index, Nikkei and KOSPI gained by 0.57 per cent, 0.65 per cent and 1.03 per cent, respectively.
French index CAC 40 was seen trading up by 0.10 per cent whereas the UK’s FTSE 100 was down by 0.21 per cent.
Sensex gainers consisted of HCL Technologies, which soared by 10.08 per cent, TCS went up by 5 per cent, Infosys gained by 3.44 per cent, Tech Mahindra increased by 3.09 per cent, Titan Company gained by 1.81 per cent, Bajaj Auto rose by 0.90 per cent, etc.
Sensex draggers included Bharti Airtel that went down by 3.46 per cent, Bajaj Finance fell by 2.91 per cent, Power Grid declined by 2.06 per cent, SBI fell by 2.05 per cent, HDFC Bank decreased by 1.91 per cent, Sun Pharmaceutical Industries decreased by 1.90 per cent, Kotak Mahindra Bank plunged by 1.89 per cent, etc.
Amongst sectoral indices on BSE, IT index was the top gainer, up by 4.76 per cent. Meanwhile, BSE Realty index zoomed by 3.85 per cent and BSE TECK index surged by 3.57 per cent. BSE Telecom index declined by 2.09 per cent while BSE Bankex & BSE Finance index fell by 1.56 per cent and 1.31 per cent, respectively.