Stock Market Today: Sensex, Nifty End Lower, But Score Weekly Gains

Overseas investors turned net buyers of Indian equities on Friday after a day of selling.

Foreign portfolio investors bought stocks worth Rs 1,276.09 crore, according to provisional data from the National Stock Exchange.

The yield on the 10-year bond closed flat at 7.08%.

Source: Bloomberg

• The local currency weakened 10 paise to close at 82.95 against the U.S. Dollar.

• It closed at 82.85 on Thursday.

Source: Bloomberg

The benchmark indices erased early gains to end lower on Friday after the Nifty 50 hit a record high for the fifth consecutive session.

NSE Nifty 50 ended with a record weekly closing level of 22,212.7, or 0.78% higher, while S&B BSE Sensex ended nearly 1% higher.

On Friday, the S&P BSE Sensex closed down 15.44 points, or 0.02%, at 73,142.8, while the NSE Nifty 50 was 4.75 points or 0.02% lower at 22,212.7.

The benchmark index claimed a new historic peak on Friday, but struggled to hold ground near the all-time high, Avdhut Bagkar Technical and Derivatives Analyst, StoxBox said. "The index perceived selling pressure near 22,300; struggling to surpass this sell-off, the index slid towards 22,200 level in the last hour."

The bullish mood continued on Wall Street overnight, with a buoyant outlook for Nvidia Corp., as it surged 16%, while fresh data showed that the U.S. economy is still going strong, Bloomberg reported.

Tata Consultancy Services Ltd., ITC Ltd., State Bank Of India, Bharti Airtel Ltd., and HCL Tech Ltd. were negatively adding to the change in the Nifty 50 Index.

Whereas, Reliance Industries Ltd., Larsen & Toubro Ltd., Mahindra and Mahindra Ltd., and Titan Co. were negatively contributing to the change.

The indices advanced for the second week this Friday with Nifty closing at a record high on the weekly charts. The S&P BSE Sensex rose 0.99% and NSE Nifty 50 was higher by 0.78% this week. The week saw Nifty 50 hitting record highs every session.

Most sectors advanced this week with Nifty Realty index gaining nearly 4% followed by Nifty FMCG, and Nifty Financial Services.

Broader markets outperformed benchmark indices. The S&P BSE Midcap rose 0.25%, and the S&P BSE Smallcap rose 0.53%. 

"On an overall basis, the market performed well on a broader market level, however, we expect volatility to continue in the coming time," Bagkar said.

On BSE, nine sectors out of 20 sectors declined, and 11 sectors rose. The S&P BSE Telecommunication rose the most, and the S&P BSE Oil and Gas sector was the worst-performing sector

Market breadth was skewed in favour of buyers. Around 2,043 stocks rose, 1,794 stocks gained, and 99 remained unchanged on BSE.

• RBI allows bank and non-bank PPI issuers to issue payment instruments for public transport.

• To permit authorised bank and non-bank PPI issuers to issue PPIs for making payments across various public transport systems.

Source: RBI circular

• Kalyani Steels Ltd signed a MoU with Odisha Govt for setting up manufacturing plants in the state.

• the company will invest Rs 6,626 crore in 0.7 MTPA manufacturing complex for steel & auto parts.

• The steelmaker will invest Rs 5,124 crore in aero, defence parts plant.

Source: Exchange filing

The shares of Kalyani Steels Ltd. rose on Friday to hit a life high after it signed a memorandum of understanding worth Rs 11,750 crore with the government of Odisha to set up manufacturing plant.

The scrip rose as much as 8.47% to hit fresh life high of 889. It recently hit life high on Feb. 19. It pared gains to trade 5.63% higher at Rs 865.70 apiece, as of 1:51 p.m. This compares to a 0.09% advance in the NSE Nifty 50 Index.

It has risen 174.69% in the last 12 months. Total traded volume so far in the day stood at 1.5 times its 30-day average. The relative strength index was at 83 indicating it was overbought.

• Macquarie retained 'Neutral' On Maruti Suzuki price target Rs 10,608

• Changing market mix to pose challenge to Maruti's market share in small PVs

• Near-term demand for small cars will remain tepid due to product price hike

• Rising consumer preference for SUVs and Micro-SUVs pose risk to market share recovery

• Margin upside risk on lower discounts and operating leverage

IdeaForge Technology Ltd rose over 7% to over two-week high on Friday after media reports said the drone-maker is entering the U.S. markets.

The Indian drone-maker, ranked fifth globally in dual-use category of civil and defence, has showcased its products in the highly competitive market at a time when the U.S. is trying to avoid Chinese products, PTI reported.

The scrip rose as much as 7.29% to Rs 782.25 apiece, the highest level since Feb 7. It was trading 5.04% higher at Rs 765.85 apiece, as of 12:42 p.m. This compares to a 0.16% advance in the NSE Nifty 50 Index.

It has declined 40.84% in 12 months. Total traded volume so far in the day stood at 3.4 times its 30-day average. The relative strength index was at 57.61.

One analysts tracking the company, maintained a 'buy' rating, according to Bloomberg data.

• Godrej Industries approved raising up to Rs 1,000 crore via issuance of NCDs.

Source: Exchange Filing

• U.S. Dollar Index at 103.94

• U.S. 10-year bond yield at 4.32%

• Brent crude down 0.56% at $83.20 per barrel

• Nymex crude down 0.60% at $78.14 per barrel 

• Bitcoin was down 0.70% at $51,289.52

• The yield on the Indian benchmark 10-year bond trade flat at 7.07% compared to Thursday's close.

• The India rupee weakened by 3 paise against the U.S. Dollar to 82.88.

• Life Insurance Corp of India's Mauritius branch resumed operation from Feb 23.

Source: Exchange Filing

• Airtel Digital TV launched India's first anime entertainment channel with Sony India.

• Anime entertainment channel Anime Booth are to be available to viewers in Hindi initially.

Source: Exchange filing

• Banks placed bids worth Rs 2.05 lakh crore in 13-day VRR auction conducted today.

• Notified amount for the auction was Rs 1 lakh crore.

• Auction cut-off was at 6.62%.

Source: RBI

• BCCI selected CeatT Ltd. as official partner to sponsor certain segments of IPL matches.

• Ceat is to spend Rs 240 crore over five years for IPL sponsorship.

Source: Exchange Filing

Jio Financial Services Ltd extended gains to fifth session and rose 14.58% to Rs 347.00, the highest level since its listing on Aug 21,2023. It pared gains to trade 8.49% higher at Rs 328.55, which compares to 0.14% gain in the NSE Nifty 50 index.

It has risen 32% in six months. Total traded volume so far in the day stood at 10 times its 30-day average. The relative strength index was at 80.85, which implied the stock is overbought.

• Suprajit Engineering at 5.5x its 30 day average, up 4.7%

• Gujarat Alkalies & Chemicals at 5.2x its 30 day average, up 1.7%

• Concord Biotech at 3.6x its 30 day average, up 1.63%

• Adani Wilmar at 3.6x its 30 day average, up 5.4%

• Welspun Living at 3.5x its 30 day average, up 5.3%

• Juniper Hotels Ltd.'s IPO was subscribed 0.26 times or 26%, as of 10:57 a.m. on Friday.

• GPT Healthcare Ltd.'s IPO was subscribed 0.88 times or 88% as of 10:58 a.m. on Friday

• Federal Bank Ltd had 81.7 lakh shares changed hands in two large trades.

• The lender's 0.3% equity changed hands between the price range of Rs 153.45 to Rs 153.4 apiece.

• Buyers and sellers are not known immediately.

Source: Bloomberg

On NSE, scrip of the automobile company surged as much as 0.53% to Rs 11,720.00, their highest level since its listing on July 9, 2003. It was trading 0.04% higher at Rs 11,662.85 as of 10:54 a.m. This compares to 0.07% advance in the NSE Nifty 50 index.

It has risen 34.07% in 12 months. Total traded volume so far in the day stood at 0.18 times its 30-day average. The relative strength index was at 76.53, which implied the stock is slightly overbought.

Out of 48 analysts tracking the company, 39 maintain a 'buy' rating, six recommend a 'hold,' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.7%.

Scrips of the index-heavy Reliance Industries Ltd. rose 0.85% to Rs 2,988.80 on NSE, marking the highest level since Nov 29, 1995. It was trading 0.30% higher at Rs 2,972.45 as of 10:42 a.m. This compares to 0.06% advance in the NSE Nifty 50 index.

It has risen 37.89% in 12 months. Total traded volume so far in the day stood at 0.30 times its 30-day average. The relative strength index was at 66.59.

Out of 34 analysts tracking the company, 28 maintain a 'buy' rating, five recommend a 'hold,' and two suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 0.4%.

• Birla opus makes big entry in paints

• Addresses key business aspects with wide portfolio,distribution, influencer partnership

• Revenue target set at Rs 100 billion; breakeven expected in 3 years

• Incumbents may face near term growth challenges

• BofA maintained 'Buy' rating on Indus Towers with a Price target of Rs 280

• Expect Vodafone Idea potential fundraise to be positive for Indus Towers

• Expect Indus to distribute special dividend on receiving pending dues

• Remain optimistic on improving revenue and new tower adds in FY25

• Valuation and risk-reward attractive given 5x FY25 EBITDA multiple

• Achieved total payment volume of $150 billion.

• Have become a leader in money processing volume in India.

• Over the years, we've pivoted from a payment gateway provider to full stack financial solutions company.

Source: Razorpay's CEO Harshil Mathur at FTX 2024 event

• State Bank of India: Downgraded to 'neutral' from 'buy' (downside of 4%).

• ICICI Bank: Downgraded to 'neutral' from 'buy' (upside of 3%).

• Yes Bank: Downgraded to 'sell' from 'neutral' (downside of 37%).

• Bajaj Finance: Upgraded to 'neutral' from 'sell'.

• HDFC Bank: Reiterates 'buy' (upside of 33%).

• U.S. Dollar Index at 103.90

• U.S. 10-year bond yield at 4.32%

• Brent crude down 0.47% at $83.28 per barrel

• Nymex crude down 0.51% at $78.21 per barrel 

• Bitcoin was down 0.82% at $51,228.04

• The yield on the Indian benchmark 10-year bond trade flat at 7.073%.

• The India rupee was trading flat at 82.86.

• Manappuram Finance Ltd's board approved raising Rs 600 crore via NCDs.

Source: Exchange filing

Vodafone Idea Ltd. shares jump over 8% after the company said it plans to consider a fundraising proposal through multiple instruments in a board meeting next week, even as billionaire Kumar Mangalam Birla keeps the hunt on for new investors.

The board will evaluate proposals for the capital raise on Feb. 27 in one or more tranches by way of a rights issue, further public offer, private placement, including preferential allotment, or qualified institutional placement, according to an exchange filing on Thursday.

Speaking at the launch of Grasim Industries Ltd.'s new paint business, the Aditya Birla Group Chairman said there are no plans to exit the struggling telecom business and it will continue to look for new investors in Vodafone Idea.

On the other hand, Vodafone Idea lost 13.68 lakh wireless subscribers, as compared with a loss of 10.73 lakh subscribers in November.

Vodafone Idea's stock rose as much as 8.28%, the most jump since Feb. 07.

It was trading 7.89% higher at Rs 17.60 per share, compared to a 0.12% advance in the benchmark Nifty 50 at 9:31 a.m.

It has risen 162.69% in the past 12 months. The total traded volume so far in the day stood at 13 times its 30-day average. The relative strength index was at 66.30.

Of the 17 analysts tracking the company, 15 maintain a 'sell' and two recommend a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 58.6%

India's benchmark share indices extend gains at opening on Friday, with the NSE Nifty 50 opening just shy away from its record high level, lead by gains in index-heavy HDFC Bank Ltd.

As of 09:20 a.m., the NSE Nifty 50 was trading 35.45 points or 0.16% higher at 22,252.90, and the S&P BSE Sensex was trading 111.91 points or 0.15% up at 73,270.15.

"On the daily chart, the Index has formed a strong bullish candle after successfully testing its support level of 21,930 and is all set to move in tandem with the primary uptrend. As per the Ascending Triangle pattern, the target is 23,120," said Aditya Gaggar, director, Progressive Shares.

"The sentiment seems to be turning in bulls favour post sharp recovery on the previous day. Thus, until the support of 21800 is defended, the upside bias remains intact. The strength indicator, Relative Strength Index (RSI) is far from the overbought territory, suggesting more room for an upward rally," said Avdhut Bagkar, technical and derivatives analyst, StoxBox.

HDFC Bank Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Titan Company Ltd., and Hero MotoCorp Ltd. added to the benchmark index.

Bharti Airtel Ltd., ICICI Bank Ltd., Axis Bank Ltd., Asian Paints Ltd., and Power Grid Corp of India Ltd limited losses in the benchmark indices.

On NSE, 11 sectors out of 12 gained on NSE and one declined. The Nifty Realty index rose the most among sectoral indices, and the Nifty FMCG declined the most among sectoral indices.

Broader markets outperformed benchmark indices. The S&P BSE Midcap rose 0.38%, and the S&P BSE Smallcap gained 0.6%.

On BSE, 13 sectors out of 20 advanced, and seven declined. The S&P BSE Telecommunication rose the most, while the S&P BSE Oil and Gas declined the most.

Market breadth was skewed in favour of buyers. Around 2,086 stocks rose, 860 stocks declined, and 115 remained unchanged on BSE.

At pre-open, the NSE Nifty 50 was trading 0.32% or 70.70 points higher at 22,288.15, and S&P BSE Sensex was trading 0.34% or 247.08 points higher at 73,394.44.

• The local currency weakened 2 paise to open at 82.87 against the U.S. Dollar.

• It closed at 82.85 on Thursday.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.07%.

Source: Bloomberg

• Kirloskar Ferrous Industries Ltd has temporarily suspended operations of blast furnace at Hiriyur plant due to market conditions.

Source: Exchange filing

• Food inflation volatility poses risks even as moderating trend in core inflation is comforting.

• MPC needs to be vigilant to ensure last mile of disinflation.

• Imperative to remain cautious, market expectations of policy pivots can be challenging.

• Growth conditions remain robust, potential growth could likely have improved.

• Watchful for risks of delayed start of rate cut cycle to beyond June 2024

• GDP growth being driven by capex, according of MPC minutes.

• Transient volatility in inflation, the central bank is watchful for generalised price pressures.

• Policy guidance remains prudent.

• Expect growth to undershoot the RBI’s forecasts in FY25 (RBI: 7.0%, Nomura: 6.2%)

• Expects one-year ahead inflation forecast (for Q4 FY25) to also be lower (RBI: 4.7%, Nomura: 4.1%)

• Expects 100bps in rate cuts cumulatively starting from August.

• Expects both growth and year-ahead inflation to undershoot the RBI’s forecasts in FY25

• Rate cuts warranted, especially if inflationary pressures continue to be benign

• U.S. Dollar Index at 103.91

• U.S. 10-year bond yield at 4.32%

• Brent crude down 0.35% at $83.38 per barrel

• Nymex crude down 0.43% at $78.27 per barrel 

• GIFT Nifty 16.5 points, or 0.07%, down at 22,311.50 as of 8:17 a.m.

• Bitcoin was down 0.39% at $51,449.75

• Citi Research has initiated coverage with a 'buy' on Honasa Consumer and target price set at Rs 550 apiece.

• The brokerage expects growth outperformance led by company-specific initiatives and masstige positioning.

• Citi Research sees strong business prospects, robust growth opportunity, and improving financial metrics.

• Consolidated revenue to post 25% CAGR over FY24-26E driven, the brokerage said.

• Citi Research estimates Ebitda to grow at a faster clip of 55% CAGR.

• Cautious approach is needed to manage last mile of disinflation.

• Resilient growth allows time to "wait a bit longer" to achieve target.

• Allows time to get clarity on weather related risks.

• Status Quo even on stance, the RBI fears that markets are front running anticipation of policy pivot.

• Reaffirms earlier stance highlighted in post policy note which pushed stance change to 'neutral'.

• The brokerage expects the first rate cut to be in October from August earlier.

• Nifty February futures up by 0.9% to 22,243.25 at a premium of 25.8 points.

• Nifty February futures open interest down by 0.59%.

• Nifty Bank February futures down by 0.1% to 46,980.30 at a premium of 60.5 points.

• Nifty Bank February futures open interest down by 12.33%.

• Nifty Options Feb. 29 Expiry: Maximum call open interest at 23,000 and maximum put open interest at 21,000.

• Bank Nifty Options Feb. 29 Expiry: Maximum call open interest at 47,000 and maximum put open interest at 45,000.

• Securities in the ban period: Aditya Birla Fashion and Retail, Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Infra, GNFC, Hindustan Copper, Indus Tower, National Aluminium, Piramal enterprise, PVR Inox, RBL Bank, SAIL, Zee Entertainment Enterprise

• Moved into short-term ASM framework: Jubilant Industries, Zomato, and Swelect Energy Systems.

• Ex/Record Interim Dividend: Aegis Logistics, Bharat Forge, BLS International Services, Bosch, Cantabil Retail, Dynamatic Technologies, Garden Reach Shipbuilders & Engineers, India Nippon Electricals, Kirloskar Oil Engines, National Aluminium, Saurashtra Cement, Sun TV Network, United Drilling Tools.

• Ex/Record Buyback: Kaveri Seed Company, Zydus Lifesciences.

• Ex/Record Stock Split: Remedium Lifecare.

• Firstsource Solutions: To meet analysts and investors on Feb. 27.

• Heritage Foods: To meet analysts and investors on Feb. 27.

• Tejas Networks: To meet analysts and investors on Feb. 27.

• Aditya Birla Capital: To meet analysts and investors on Feb. 27.

• ICICI Prudential Life Insurance: To meet analysts and investors on Feb. 28.

• Landmark Cars: To meet analysts and investors on Feb. 27.

• Dharmaj Crop Guard: To meet analysts and investors on Feb. 26.

• Ceat: To meet analysts and investors on March 4.

• Titan: To meet analysts and investors on Feb. 26, March 1, March 4.

• Pricol: To meet analysts and investors on March 22.

• UCO Bank: To meet analysts and investors on Feb. 27.

• IndusInd Bank: To meet analysts and investors on Feb. 28.

• Godawari Power and Ispat: To meet analysts and investors on Feb. 29.

• Mold-Tek Packaging: To meet analysts and investors on March 4.

• Sky Gold: To meet analysts and investors on Feb. 27.

• Elecon Engineering Co.: Promoter KB Investments Pvt. sold 16,644 shares.

• Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 10,000 shares.

• Greenply Industries: Promoter Rajesh Mittal bought 8,500 shares.

• Choice International: Promoter Ns Technical Consultancy bought 1 lakh shares.

• Ashapura Minechem: Promoter Ashapura Industrial Finance bought 15,000 shares.

• Lincoln Pharmaceuticals: Promoter Renukaben Maheshbhai Patel sold 11,353 shares.

• Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge for 2.5 lakh shares.

• Eureka Forbes: Lunolux sold 1.93 crore shares (10%) at Rs 506.06 apiece. Goldman Sachs India Equity Portfolio bought 23.45 lakh shares (1.21%), Morgan Stanley Asia bought 19.44 lakh shares (1%), Cassini Partners bought 18.91 lakh shares (0.97%), Plutus Wealth Management bought 14.85 lakh shares (0.76%), among others, at Rs 504.95 apiece

• RBL Bank: Mathew Cyriac bought 32.75 lakh shares (0.54%) at Rs 265.58 apiece.

• Juniper Hotels: The public issue was subscribed to 0.23 times on day 2. The bids were led by retail investors (0.87 times), non-institutional investors (0.14 times), and institutional investors (0.6 times).

• GPT Healthcare: The public issue was subscribed to 0.37 times on day 1. The bids were led by retail investors (0.66 times), non-institutional investors (0.18 times), and no bids from institutional investors.

• Vodafone Idea: The board will meet on Feb. 27 to consider fundraising proposals. KM Birla has said the Aditya Birla Group does not plan to exit the business and is looking for new investors.

• Bank of Baroda: The lender raised Rs 2,500 crore via Tier II bonds at a 5.57% coupon.

• IRCTC: Entered into a pact with Swiggy Foods for the supply and delivery of pre-ordered meals. The first phase of the supply pact will include Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam stations.

• IRB Infrastructure: The company approved raising up to $550 million via FX bonds.

• Power Finance Corp.: The company will consider a fundraising proposal on Feb. 29.

• Ramkrishna Forgings: The company received board approval for the commencement of manufacturing and supplies from the company’s Mexico location.

• Oil India: The company signed an MoU with Fertilisers and Chemicals Travancore for green hydrogen.

• Prataap Snacks: The company clarified that it is not in negotiations with ITC for a stake sale.

• Concord Biotech: The company has received a certificate of good manufacturing practices from Kenyan authorities at its Ahmedabad plant.

• ION Exchange India: NCLT Mumbai-approved scheme of amalgamation of Global Composites and Structurals and Ion Exchange Environment Management with Ion Exchange (India).

• Bandhan Bank: Rajeev Mantri is appointed as the CFO. Accordingly, Abhijit Ghosh ceases to be the interim CFO.

• IRB INVIT: Toll collection on the IRB Pathankot Amritsar Toll Road has been temporarily stopped due to farmers’ agitation in Punjab.

• Paisalo Digital: The board will consider and approve the allotment of NCDs for private placement on Feb. 27.

• Jindal Worldwide: The company has plans to launch three scooters with 12 variants—B2B and B2C—and one sports bike with 2 variants in FY25.

• UCO Bank appointed Aravamudan Krishna Kumar as part-time non-official director as well as non-executive chairman for a term of three years.

• Jupiter Life Line Hospitals: The company has leased land for 10 years in Bibvewadi, Pune, for setting up a hospital with an annual lease rental of Rs 9.27 crore.

• Dilip Buildcon, a wholly owned subsidiary, executed the concession agreement with the Public Works Department, Goa, for Rs 270.07 crore for the construction of Zuari Observatory Towers.

• Bharat Forge: The company has invested Rs 133.58 crore in Bharat Forge Global Holding GmbH.

• Dreamfolks Services: Eco Mobility expanded its pact with the company for car rental services as part of DreamFolks Club memberships.

• Salsaar Technologies: RVNL-SALASAR JV emerged as the lowest bidder from Madhya Pradesh Power Transmission Company for the construction of transmission lines and associated feeder bays for a project cost of Rs 173 crore.

• Zydus Lifesciences: The company incorporated a wholly owned subsidiary company in the name of Zydus Lifesciences Global FZE in the UAE.

• Bajaj Auto: The company made a further investment of Rs 45.75 crore in Yulu Bikes.

• Texmaco Rail & Engineering: The board will consider fundraising through various means on Feb. 27.

• Angel One: The board approved raising up to Rs 2,000 crore in tranches.

• Morepen Labs: The board approved raising funds up to Rs 350 crore via QIPs.

Stocks in the Asia-Pacific rallied on Friday after Wall Street stocks hit all-time highs on the back of an upbeat outlook for Nvidia Corp.

The S&P ASX 200 was trading 0.31% higher as of 06:37 a.m., while KOSPI advanced 0.96% to 2,680.95. The Japanese stock markets are closed on Friday as the country celebrated the Emperor's birthday.

The bullish mood continued on Wall Street overnight, with a buoyant outlook for Nvidia Corp., as it surged 16%, while fresh data showed that the U.S. economy is still going strong, Bloomberg reported.

The S&P 500 was 2.11% higher, and the Nasdaq 100 advanced 2.96% as of Thursday. The Dow Jones Industrial Average traded 1.18% higher.

Brent crude was up 0.77% at $83.67 a barrel. Gold was up 0.08% at $2,026.09 an ounce.

The GIFT Nifty was trading 16.5 points, or 0.07%, down at 22,311.50 as of 8:17 a.m.

India’s benchmark stock indices recouped losses to end higher on Thursday as information technology and auto stocks led the gains.

The Nifty ended 162.40 points, or 0.74%, up to a record closing high of 22,217.45, and the S&P BSE Sensex closed 535.15 points, or 0.74%, higher at 73,158.24.

Overseas investors turned net sellers of Indian equities on Thursday after a day of buying. Foreign portfolio investors sold stocks worth Rs 1,410.1 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 1,823.7 crore after a day of selling, the NSE data showed.

The Indian currency strengthened 12 paise to close at Rs 82.85 against the U.S. dollar.