Nifty, Sensex End 0.8% Higher Buoyed By Power, Capital Goods, Industrials Stocks; FPIs Stay Net Buyers
Indian equity benchmarks got off to a volatile start but ended the day with clear gains.
Foreign Investors Net Buyers
FPIs have been net buyers for eight days in a row, making it the longest buying streak of 2022 so far.
Foreign portfolio investors net bought equities worth Rs 1,449.7 crore today, as per data from the National Stock Exchange.
On the other hand, domestic institutional investors net sold equities worth Rs 140.73 crore on Monday.
Institutions had net bought Rs 3,978.31 crore worth of equities last month in July alone. It was the only month of the year till date when institutions remained net buyers.
Institutions have net bought 6,534.54 crore worth of equities so far in August and net sold equities worth Rs 41,905.15 as yet in 2022.
Closing Bell: Nifty, Sensex End Higher
Indian equity benchmarks got off to a volatile start but ended the day with clear gains.
The S&P BSE Sensex gained 0.8% to 58,853.07, while NSE Nifty 50 Index gained a similar magnitude to end at 17,525.1.
The larger market outperformed their broader peers. The S&P BSE LargeCap gained 0.77%, while the S&P BSE MidCap and S&P BSE SmallCap advanced around 0.3%. Only the S&P BSE Oil & Gas declined, that too marginally. Gains were led by capital goods, power and industrial goods stocks.
The market breadth was slightly skewed in favour of the bulls. About 1,940 stocks gained, 1,556 declined and 174 remained unchanged.
DCM Shriram Industries To Explore Restructuring Operations
DCM Shriram Industries Ltd. have constituted a committee of independent directors/non-executive directors under the company's chairman to explore the possibility of restructuring the ccompany's operations with a view to unlock growth potential and shareholders' value.
Shares of the company jumped as much as 4% on the announcement.
Apollo Tyres To Consider Bonds Private Placement
Apollo Tyres Ltd., in the meeting of board of directors scheduled on Aug. 12 will consider the issue of non-convertible debentures through private placement within the limits approved by members in the July 11 AGM.
Adani Ports Shares Decline On Profit Miss
Shares of Adani Ports and Special Economic Zones Ltd. erased all gains and traded lower after the company's net profit failed to meet analyst estimates.
Highlights (YoY)
Net Profit fell 16% to Rs 1,072 crore from Rs 1,278 crore (Bloomberg estimates: Rs 1,256 crore)
Revenue fell 1% to Rs 4,638 crore from Rs 4,671 crore (Estimates: Rs 4,609 crore)
Ebitda rose 13% to Rs 3,005.5 crore from Rs 2,656 crore, excluding forex MTM loss/gain (Estimates: Rs 2,776 crore)
