Share Market Today: Sensex, Nifty End Lower Dragged By FMCG, Power, Capital Goods Stocks; FPIs Stay Net Buyers
Follow the latest market update here.
KEY HIGHLIGHTS
Foreign Investors Net Buyers
Overseas investors remained net buyers for the twelfth day in a row on Monday.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 1,089.41crore.
Similarly, Domestic institutional investors stayed net buyers and bought equities worth Rs 47.18 crore.
Institutions have net bought Rs 7,981.46 crore worth of equities so far in November and net sold Rs 23,715.45 crore worth of Indian equities till date in 2022.
10-Year Bond Yield Closes Lower
Yield on the 10-year bond fell 2 bps to close at 7.28%
Rupee Depreciated Against The U.S. Dollar
The rupee witnessed heavy volatility and depreciated 45 paise to RS. 81.27 against the US dollar in line with a muted trend in domestic equities.
The local currency opened at 80.55, appreciating 0.34%, or 27 paise.
On Friday, the rupee appreciated by 62 paise to close at 80.78 against the dollar.
"The rupee depreciated on recovery in dollar and weak domestic markets. However, Rupee opened higher on upbeat macroeconomic data," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
India's industrial production expanded by 3.1% in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday.
"Overall weakness in the Dollar amid rising expectations of the not-so-aggressive Federal Reserve may also support the Rupee at lower levels. Sustained FII inflows may also support Rupee. However, higher crude oil prices may cap sharp upside," Choudhary added.
On the domestic macroeconomic front, the wholesale price-based inflation declined to a 19-month low of 8.39% in October, on easing prices of fuel and manufactured items.
The rupee had hit a record low of 83.29 on Oct. 20.
(Inputs from PTI)
Closing Bell
Indian stock benchmarks closed lower on Monday, dragged FMCG, power, utilities, capital goods stocks
Sensex declined about 0.28% at 61,624.15. Nifty 50 declined 0.11% at 18,329.15.Today 26 of Nifty 50 stocks rose while 24 declined.
Hindalco Industries, Apollo Hospitals Enterprise, Tata Motors, Grasim Industries, Power Grid Corporation were the top gainers on Nifty 50.
While Dr. Reddy's Laboratories, Coal India, ITC, Hindustan Unilever and State Bank of India were the top laggards.
The broader indices outperformed their larger peers with MidCap gaining 0,05 % while SmallCap gaining 0.25%.
Eleven out of 20 the sectoral measures complied by the BSE declined with BSE FMCG losing over 1%.
The market breadth is skewed in the favour of bears. About 1720 stocks rose, 1895 fell and 154 remained unchanged.
Grasim Industries Gains After Q2 Results
Shares of Grasim Industries rose over 2%, after company announced second-quarter results.
The total traded quantity is 2.7 times the 30-day average.
Of the 10 analysts tracking the company, nine maintain a 'buy', one suggest a 'hold' The return potential of the stock implies a upside of 3.6%.
Grasim (Consolidated, YoY)
Revenue at Rs 27,485.5 crore vs Rs 22,567.5 crore
Ebitda at Rs 4,591.2 crore vs Rs 4,896 crore
Net profit at Rs 1,509.2 crore vs Rs 2,032.2 crore
Margins at 16.7% vs 21.6%
Source: Bloomberg, Exchange Filings
