Stock Market Today: Nifty, Sensex Recoup Losses To Close Higher As RIL, Coal India Gain
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KEY HIGHLIGHTS
FPIs Stay Net Buyers for Second Straight Day
Overseas investors remained net sellers of Indian equities for the second consecutive day on Tuesday.
Foreign portfolio investors offloaded stocks worth Rs 601.52 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers, and bought stocks worth Rs 294.35 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,59,729 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 Flat
The yield on the 10-year bond closed flat at 7.17% on Tuesday.
Source: Bloomberg
Sensex, Nifty Recoup Intraday Losses To Close Higher As RIL, NTPC Gain: Market Wrap
India's benchmark indices recovered from intraday losses and ended higher tracking gains in Reliance Industries Ltd, NTPC Ltd., and ITC Ltd.
The NSE Nifty 50 ended 0.13% or 27.30 points higher at 21,445.95 ,while the BSE Sensex ended 0.17% or 122.09 points higher at 71,437.19.
Intraday, the Nifty 50 index declined 0.38% or 80.90 points to 21,337.75. Similarly, the BSE Sensex declined 0.34% or 243.11 points to 71,071.89.
"Extreme volatility was seen on both sides whereas in the opening trade, a strong recovery was witnessed under the leadership of heavyweight Reliance. In the mid-session, PSU Banks and Pharma counters joined the party and pushed the Index further higher to register a fresh high of 21,505.05," said Aditya Gaggar, director of Progressive Shares.
"However, towards the end of the day, the Index pared off some of its gains to settle at 21,453.10 with gains of 34.45 points. On the sectoral front, Energy was up by 1.58% and ended the session as a top performer followed by FMCG (+1.41%) while IT and Auto sectors witnessed a profit booking pressure. Underperformance was observed by the Broader markets as Mid and Smallcaps corrected by 0.38% & 0.12% respectively," " Gaggar added.
Reliance Industries Ltd., Coal India Ltd., Nestle India Ltd., ITC Ltd., and NTPC Ltd added positively to the indices.
Tata Consultancy Services Ltd., ICICI Bank Ltd., Infosys Ltd., HDFC Bank Ltd, and HCL Technologies Ltd weighed on the indices.
Sectoral indices ended on a mixed note. Eight out of 14 sectors, compiled by the NSE advanced with the Nifty Energy gaining 1.58% to be the top sector. Around five sectors declined with the Nifty IT falling 0.95%.
The broader markets underperformed; the S&P BSE MidCap Index was down 0.31%, whereas S&P BSE SmallCap Index was 0.1% higher.
Eleven out of 20 sectors compiled by BSE declined, while nine sectors advanced. S&P BSE Energy rose the most.
The market breadth was skewed in the favour of the buyers. About 1,901 stocks rose, 1,860 declined, while 143 remained unchanged on the BSE.
Sanghvi Movers Gets Order Worth Rs 166 Crore
Sanghvi Movers Ltd received work order worth Rs 166 crore in the renewable energy sector
Order for providing cranes and WTG inter-carting to independent power producers
Source: Exchange filing
Coal India Surges Over 5%
The scrip rose as much as 5.36% to 366.30 apiece, the highest level since August 2015. It pared gains to trade 4.56% higher at Rs 363.50 apiece, as of 2:59 p.m. This compares to a 0.06 advance in the NSE Nifty 50 Index.
