Stock Market Today: Sensex, Nifty Close At Another Record High; FPIs Stay Net Buyers
Nifty 50 ended 168.30 points higher at 20,855.10 on Tuesday, while the Sensex gained 431.02 points, or 0.6% to close at 69,296.14.
KEY HIGHLIGHTS
Adani Green Shares Hits 52-Week High
Gulshan Polyols Jump On Ethanol-Supply Order
Brigade Enterprises Stock At Record High On Signing Rs 2,100-Crore Housing Project Deal
Ambuja Cements Shares Rise 7%
Sensex, Nifty Off Record-Highs As Infosys, L&T, HCL Tech Drag; Realty Stocks Fall: Midday Market Update
FPIs Stay Net Buyers
Overseas investors stayed net buyers for the eighth consecutive session on Tuesday.
Foreign portfolio investors bought stocks worth Rs 5,223.51 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors after being buyers in the last two session turned net seller and sold stocks worth Rs 1,399.18 crore, the NSE data showed. This is the highest selling since Jul. 20, 2023.
Foreign institutions have been net buyers of Rs 1,25,935 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 7.26% on Tuesday.
Source: Bloomberg
Rupee Ends Flat Against The U.S. Dollar
The local currency ended 1 paise lower against the U.S. dollar at 83.38 on Tuesday.
It closed at 83.37 on Monday.
Source: Cogencis
Sensex, Nifty Close At Another Record High After Six-Day Rally: Closing Bell
Benchmark indices ended at their highest closing level in the second consecutive session after rising consecutively in the sixth session. Both the indices also hit new intraday highs today.
The gains were led by banking and Adani stocks. Shares of Adani Enterprises jumped and those of Adani Enterprises ended around 17% higher and Adani Ports jumped over 14%.
The NSE Nifty 50 ended 168.30 points, or 0.8% higher, at 20,855.10 on Tuesday, while the S&P BSE Sensex gained 431.02 points, or 0.6% to close at 69,296.14.
"Markets scaled fresh record highs on the back of impressive gains led by power, oil & gas and banking stocks, as investors continue to bet big on India growth story with fresh election victory for the ruling party in recent state elections further aiding the sentiment," said Prashanth Tapse, senior vice president of research at Mehta Equities Ltd.
Meanwhile, Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy said,"Despite a broad-based rally, the fear gauge India VIX is also going up. Traders are advised caution for the next two days until the RBI’s Monetary Policy Committee concludes."
"The market is already overheated and a policy change or an unfavorable commentary may elicit a sharp reaction from the market," he added.
Shares ICICI Bank Ltd., Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., HDFC Bank Ltd., and Reliance Industries Ltd., contributed the most to the gains while Infosys Ltd., Larsen & Toubro Ltd., HCL Technologies Ltd., ITC Ltd., and Bajaj Finance Ltd.,capped the upside.
Most sectoral indices gained with Nifty Energy and Nifty Metal rising over 3%. However, Nifty Media, Nifty IT, Nifty Realty, and Nifty FMCG fell.
The broader markets underperformed the S&P BSE MidCap Index was up 0.14%, whereas S&P BSE SmallCap Index was 0.12% higher. Five sectors out of 20 sectors compiled by BSE advanced.
The market breadth was skewed in favour of the sellers. About 1,787 stocks rose, 1,969 declined, and 119 remained unchanged on the BSE.
Nifty Hits Fresh Life High
