Stock Market Today: Sensex, Nifty End Worst Week In Over Two Months With Gains; FPIs Stay Net Sellers
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KEY HIGHLIGHTS
FPIs Stay Net Sellers For The Third Straight Day
Overseas investors remained net sellers of Indian equities for the third consecutive session on Friday.
Foreign portfolio investors offloaded equities worth Rs 3,689.68 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors stayed net buyers for the fourth straight day and mopped up stocks worth Rs 2,638.4 crore, the NSE data showed.
During the past three sessions, foreign investors have sold Indian equities worth Rs 24,169.3 crore, while domestic investors bought stocks worth Rs 12,622, according to the provisional data.
Foreign institutions have been net sellers of Rs 13,047 crore worth of Indian equities so far in 2024, 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 7.18% on Friday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 5 paise to close at 83.07 against the U.S dollar on Friday.
It closed at 83.12 on Thursday.
Source: Bloomberg
Sensex, Nifty End Worst Week In Over Two Months With Gains: Market Wrap
India's benchmark indices snapped a three-day losing streak and ended higher on Friday as ICICI Bank Ltd, Bharti Airtel Gain.
The S&P BSE Sensex settled 496.37 points or 0.70% higher at 71,683.23, while the NSE Nifty 50 ended 160.15 points or 0.75% higher at 21,622.40.
However, the benchmark indices logged biggest weekly losses in over two months. The Nifty 50 index declined 1.24% this week, and the Sensex fell 1.22% compared to previous. This is the biggest weekly loss since Oct 27.
Intraday, the Sensex rose to a high of 71,895.64, and the Nifty 50 touched a high of 21,670.60.
ICICI Bank Ltd, Bharti Airtel Ltd, Larsen & Toubro, ITC Ltd, and Infosys Ltd contributed positively to the benchmark index.
HDFC Bank Ltd, IndusInd Bank Ltd, Kotak Mahindra Bank Ltd, Adani Ports and Special Economic Zones Ltd, and Divi's Laboratories Ltd weighed.
On NSE, sectoral indices ended on a mixed note. The Nifty Oil & Gas sector gained 3.4% and was the top performer among sectoral indices. The Nifty Bank fell 4.1% this week to be the worst performer.
Nifty 50 Record Worst Weekly Losss In Over Two Months
Broader markets outperformed the benchmark indices. The S&P BSE Midcap index rose 1.69%, and the S&P BSE Smallcap gained 1.06%.
On BSE, all 20 sectors gained. The S&P BSE Telecommunication rose 1.79% to emerge as the top performing sector.
The market breadth was skewed in favour of buyers. Around 2473 stocks rose, 1333 stocks decline, and 106 stocks remained unchanged.
Ramco Systems Partners With BDO India
Ramco Systems partnered with BDO India for payroll services
Source: Exchange Filing
