Stock Market Today: Nifty, Sensex Rebound From One-Day Fall, FPIs Turn Net Seller
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KEY HIGHLIGHTS
FPIs Turn Net Sellers After A Day
Overseas investors turned net sellers of Indian equities on Monday.
Foreign portfolio investors sold stocks worth Rs 2,051.09 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors turned buyers and mopped up equities worth Rs 2,260.88 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 17278 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
The NSE Nifty 50 closed 32.35 points, or 0.15%, higher at 22,055.70, and the S&P BSE Sensex ended 104.99 points, or 0.14%, up at 72,748.42.
Yield On The 10-Year Bond Ends Higher
The yield on the 10-year bond closed 3 bps higher at 7.09%.
Source: Bloomberg
Rupee Closes Weaker Against U.S. Dollar
The local currency weakened by two paise to close at 82.91 against the U.S. Dollar.
It closed at 82.89 a dollar on Friday.
Source: Bloomberg
Nifty, Sensex Rebound From One-Day Fall As RIL, Tata Steel, M&M Lead Gain: Market Wrap
India's benchmark indices rebounded from one-day fall to end the first session of the week higher, tracking gains in Tata Steel Ltd., Reliance Industries Ltd., and Mahindra & Mahindra Ltd.
The NSE Nifty 50 settled 32.35 points or 0.15% higher at 22,055.70, and the S&P BSE Sensex settled 104.99 points or 0.14% higher at 72,748.42.
Intraday, the NSE Nifty 50 index fell 0.48% to 21,916.55, and the S&P BSE Sensex fell 0.45% to 72,314.16.
"The morning trade was dominated by the bears and the Index almost tested its strong support of 21,900 followed by a swift recovery under the leadership of Metal, Auto, and selected heavyweights which helped the Index reclaim 22,000," Progressive Shares Director Aditya Gaggar said.
After the initial fall in the morning trade, Mid and Small-cap segments remained rangebound and underperformed the NSE Nifty 50 index. The reading for the Index will remain the same i.e. breakout on either side giving a proper direction: higher side 22,200 and lower side 21,900.
Reliance Industries Ltd., Tata Steel Ltd., Tata Motors Ltd., Mahindra & Mahindra Ltd., and Axis Bank added positively to the index.
Infosys Ltd., Tata Consultancy Services Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., and Titan Co. Ltd. limited gains in the index.
On NSE, eight sectors out of 12 advanced, four declined. The Nifty Metal index gained over 2%, tracking gains in Tata Steel Ltd., and was the top performer among sectoral indices.
The Nifty IT index fell over 1% to become the worst performer.
Broader markets underperformed. The S&P BSE Midcap ended flat, and the S&P BSE Smallcap ended 0.07% lower.
On BSE, six sectors declined, and fourteen advanced. The S&P BSE Metal rose the most.
Market breadth was skewed in favour of buyers. Around 2, 008 stocks advanced, 1,929 stocks fell, and 119 stocks remained unchanged on BSE.
Dilip Buildcon Gets LoA Project Worth Rs 413 Crore In Madhya Pradesh
Dilip Buildcon Ltd. received a LoA for project worth Rs 413 crore from Madhya Pradesh Water Resource Department.
Source: Exchange Filing
