Stock Market Today: Sensex, Nifty End Higher Ahead Of Fed Decision; FPIs Remain Net Buyers
Catch live updates on stock market here
KEY HIGHLIGHTS
FPIs Remain Net Buyers For The Fourth Straight Day
Overseas investors stay net buyers for the fourth consecutive day of Indian equities on Tuesday.
Foreign portfolio investors mopped stocks worth Rs 4,710.86 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors turned net sellers and off-loaded equities worth 958.49 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 138931 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
The NSE Nifty 50 ended 20 points or 0.1%, higher at 20,926.35, while the S&P BSE Sensex settled 34 points or 0.05%, higher at 69,584.60.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.26% on Wednesday.
Source: Bloomberg
Indian rupee records its lowest ever close of 83.402 against the US dollar
The local currency depreciated nearly 2 paise to close at all time weakest level of 83.402 against the U.S. dollar on Wednesday.
It closed at 83.39 on Tuesday
Source: Bloomberg
Sensex, Nifty End Higher Ahead Of Fed Decision; L&T, NTPC, RIL Gain: Market Wrap
Indian benchmark indices settled largely flat on caution before the outcome of the U.S. Federal Reserve's two-day policy meet due at midnight.
The NSE Nifty 50 ended 19.95 points, or 0.1% higher, at 20,926.35, while the S&P BSE Sensex settled 33.57 points, or 0.05% higher at 69,584.60 on Wednesday.
Intraday, both the benchmark indices fell 0.65% as traders booked profit at higher levels tracking rally from last week. The NSE Nifty 50 declined 0.65% to 20,769.50, and the BSE Sensex fell 0.65% to 69,100.56.
Market participants exercised caution before the outcome of the U.S. Federal Open Market Committee's policy meeting, due later on Wednesday. This also weighed on the investors' sentiment.
Investors largely expect the U.S. central bank may keep the benchmark federal fund rate steady at current level of 5.25-5.50%. The highlight of the key event will be Federal Reserve Chair Jerome Powell's speech. Traders will closely monitor it for fresh cues about the central bank's rate trajectory going forward.
The U.S. Consumer Price Index rose 0.1% on sequential basis in November after being unchanged in October, which sparked fears among investors that the Federal Reserve may not start cutting rates aggressively.
Larsen & Toubro Ltd., NTPC Ltd., Hindalco Industries Ltd., ITC Ltd., and State Bank of India added to the Indices.
Infosys Ltd., Axis Bank Ltd., Tech Mahindra Ltd., Tata Consultancy Services Ltd., and UltraTech Cement Ltd. weighed on the indices.
Most sectoral indices advanced with the Nifty PSE rising the most. Ten out of 14 sectors on NSE rose, while four declined. Nifty IT sector fell the most.
Broader market outperformed benchmark Indices with the S&P BSE MidCap rising 1.06%, and S&P BSE SmallCap gaining 0.73. Around fifteen out of 20 sectors on BSE advanced while five declined. BSE Realty and BSE Power rose the most
The market breadth was skewed in the favour of the buyers. Around 2179 stocks advanced, 1597 declined, and 114 remained unchanged.
SmallCap 100 Hits Fresh High Of 14,647.15
SmallCap 100 hits fresh life high of 14,647.15, extends gains for third session.
SmallCap 100 has gainer for 13 of the last 14 sessions.
Tanla Platforms, NLC India, VIP Industries top gainers today.
Index has gained 6.9% in the past 14 sessions
