Stock Market Today: Nifty, Sensex End Higher For Third Day As RIL, HDFC Bank, NTPC Gain
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KEY HIGHLIGHTS
FPIs Stay Net Sellers For The Sixth Straight Day
Overseas investors remained net sellers of Indian equities for the sixth consecutive session on Tuesday.
Foreign portfolio investors offloaded stocks worth Rs 95.20 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors turned net buyers and mopped up stocks worth Rs 167.04 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,61,709 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 7.18% on Tuesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 4 paise to close at 83.19 against the U.S dollar on Tuesday.
It closed at 83.15 on Friday.
Source: Bloomberg
Nifty, Sensex End Higher For Third Day As RIL, HDFC Bank, NTPC Gain
India's benchmark indices ended higher despite starting the day flat on Tuesday as HDFC Bank Ltd, Reliance Industries Ltd., Kotak Mahindra Bank Ltd gained.
The NSE Nifty 50 ended 0.43% or 91.95 points higher at 21,441.35, while the S&P BSE Sensex ended 0.32% or 229.84 points higher at 71,336.80.
"Technically, the short-term texture of the market is volatile hence; level-based trading would be the ideal strategy for the day traders. We are of the view that, as long as the index is trading above 21,400/71,300 the pullback formation is likely to continue. Above the same, the market could move up till 21,475-21,550/71,300-71,600. On the flip side, below 21,200/70,700 the sentiment could change. Below the same, the market could retest the level of 21,100-21,000/70,400-70,000. However, crossing 21,600/71,900 could lead to a rally towards 21,900-22,000/72,800-73,00 levels," said Shrikant Chouhan, head, equity research, Kotak Securities.
HDFC Bank Ltd, Reliance Industries Ltd, Kotak Mahindra Bank Ltd, NTPC Ltd, and Bharti Airtel Ltd were adding positively to the indices
Infosys Ltd, Bajaj Finance Ltd., Tata Consultancy Services Ltd, Bajaj Financial Services Ltd, and Tata Motors Ltd weighed on the indices.
Around 11 sectors on NSE, out of 14 advanced with the Nifty PSE emerging as the top gainer among sectoral indices. Around three sectors declined with the Nifty Media declining the most
The broader markets outperformed the benchmark indices with S&P BSE MidCap Index gaining 0.72%, whereas S&P BSE SmallCap Index was 0.48% higher. 18 out of 20 sectors compiled by BSE advanced, while two declined. S&P BSE Oil and Gas rose the most.
The market breadth was skewed in the favour of buyers. Around 2330 stocks rose, 155 stocks declined, and 145 remained unchanged.
IT Dept Search Under Process At Some Plants and Premises Of Polycab India
Polycab India said IT Department's search is still under process at some plants and premises
Alert: I-T Dept had commenced search operations at co's premises and plants on Dec 22
Source: Exchange filing
