Stock Market Today: Sensex, Nifty End At Over Two Month High; FPIs Stay Net Buyers
Nifty 50 ended at 20,096.60 points, the highest level since Sep 15, while the Sensex closed at 66,901.91.
KEY HIGHLIGHTS
FPIs Stay Net Buyers
Overseas investors stay net buyers for the fourth consecutive session on Wednesday.
Foreign portfolio investors bought stocks worth Rs 71.91 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors continued as buyers and purchased stocks worth Rs 2,360.81 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,00,658 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Lower
The yield on the 10-year bond closed 3 bps lower at 7.25% on Wednesday.
Source: Bloomberg
Rupee Ends Flat Against The U.S. Dollar
The local currency closed flat at 83.33 against the U.S dollar on Wednesday.
Source: Bloomberg
Sensex, Nifty End At Over Two Month High: Closing Bell
Benchmark indices continued their gains for the second consecutive session and ended at over 10-week high on Wednesday. Shares of HDFC Bank Ltd, Axis Bank Ltd, and ICICI Bank Ltd led the gains.
Both the indices gained over 1%. Nifty 50 ended at 20,096.60 points, the highest level since Sep 15, while the Sensex closed at 66,901.91. the highest level since Sep 18.
"Technically, the market maintained positive momentum throughout the day after a strong start," said Shrikant Chouhan, head of equity research at Kotak Securities.
"A bullish candle on the daily chart and the formation of a higher high and higher low series on the intraday chart suggests that an uptrend wave is likely to continue in the near future. For trend-following traders, 19800-19760 for Nifty, 66000-65900 for Sensex would act as a crucial support zone," he added.
Shares of HDFC Bank, Axis Bank, ICICI Bank, Infosys, and Mahindra and Mahindra gained whereas those of Adani Enterprises, Oil and Natural Gas Corporation, Titan Company, Nestle, and Divi's Laboratories fell.
All sectoral indices rose except Nifty Media and Nifty Realty, which fell 0.1% and 0.5% respectively. Nifty Auto, Nifty Bank, and Nifty IT gained over 1.5%.
The market breadth was skewed in favour of the buyers. About 2,017 stocks rose, 1,577 declined and 130 remained unchanged on the BSE.
Benchmarks Trade Near Day's Highs
