Global financial firm Morgan Stanley made as many as 4 purchases in small-cap stocks through bulk deals on NSE and BSE on March 30, data available with exchanges showed.
The four stocks in which Morgan Stanley bought stocks were Kalyani Investment Company, Nalwa Sons Investments, Summit Securities and Rajapalayam Mills.
Morgan Stanley bought 93,000 shares of Kalyani Investment Company at an average price of Rs 865.05 per share, taking the total value of the transaction to Rs 8.04 crore. The stock settled 4.76 percent lower at Rs 830 on NSE.
Besides, Morgan Stanley bought 53,000 shares of Nalwa Sons Investments at an average price of Rs 475.05 per share. The total value of the transaction was Rs 2.52 crore. The stock closed 10.16 percent higher at Rs 498 on NSE.
The global financial firm bought 1,05,000 shares of Summit Securities at an average price of Rs 233.50, taking the total value of the transaction to nearly Rs 2.5 crore. The stock closed the day at Rs 250, up 3.84 percent, on NSE.
Morgan Stanley bought 87,000 shares of Rajapalayam Mills at an average price of Rs 458.05 per share. The total value of the transaction stood at nearly Rs 4 crore. The stock closed 4.79 percent down at Rs 474.80 on BSE.
The market ended in the red
Market benchmarks Sensex and Nifty closed in the red on March 30 as fears of recession kept investors away from riskier equities.
The Nifty50 remained under pressure throughout the session, following weak global cues. Fast-spreading COVID-19 in the United States and Europe and IMF Chief's warning of global recession dented market sentiment.
Sensex closed the day with a loss of 1,375 points, or 4.61 percent, at 28,440.32 while Nifty settled 379 points, or 4.38 percent, lower at 8,281.10.
The Nifty is back below 8,300 after two sessions, which suggests that bears have regained their foothold.
Investors’ lost nearly Rs 3 lakh crore in a single trading session. The average market capitalisaion of BSE-listed companies fell from Rs 112.49 lakh crore on March 27 to Rs 109.74 lakh crore on March 30.
Foreign institutional investors (FIIs) sold shares worth Rs 4,363.61 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 3,550.33 crore in the Indian equity market on March 30, provisional data available on the NSE showed.