Stock Market Today: Sensex, Nifty End Lower, But Score Weekly Gains
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.
KEY HIGHLIGHTS
FPIs Turn Net Buyers
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.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.08%.
Source: Bloomberg
Rupee Weakens Against U.S. Dollar
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
Nifty, Sensex End Volatile Session Lower: Closing Bell
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 Issues To Issue Payment Instruments For Public Transport
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
