Stock Market Today: Nifty, Sensex Record Highest Close, FPIs Remain Net Sellers
The Nifty 50 closed at 21,908 points, up by 260.80 points or 1.20% after hitting an intraday high of 21,928 points.
KEY HIGHLIGHTS
FPIs Remain Net Sellers For The Fourth Straight Day
Overseas investors remained net sellers of Indian equities for the fourth consecutive day on Friday.
Foreign portfolio investors offloaded stocks worth Rs 340.05 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors stayed net buyers and mopped up equities worth Rs 2,911.19 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 3,864 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 S&P BSE Sensex surged 847.27 points, or 1.18%, to close at 72,568.45, while the NSE Nifty 50 gained 260.80 points, or 1.20%, to end at 21,908.
Yield On The 10-Year Bond Ends Higher
The yield on the 10-year bond closed 2 bps higher at 7.18% on Friday.
Source: Bloomberg
Rupee Strengthens To Over Three-Month High Against U.S. Dollar
-The local currency strengthened 11 paise to close at 82.92 against the U.S dollar on Friday.
-It closed at 83.03 Thursday.
Source: Bloomberg
Nifty, Sensex Record Highest Close As Infosys, TCS, RIL Lead: Closing Bell
A sharp rise in information technology stocks, following the Q3 results of heavyweights Infosys and TCS, led the benchmarks to close at their new highs on Friday.
The Nifty 50 closed at 21,908 points, up by 260.80 points or 1.20% after hitting an intraday high of 21,928 points. Sensex rose 847.27 points or 1.18% to end at 72,568.45 points after hitting an intraday high of 72,720.96 points.
"We are of the view that, as long as the index is trading above 21750/72100 breakout texture is likely to continue," said Amol Athawale, Vice President of Technical Research at Kotak Securities. "Above the same, market could move up till 22100-22200/73000-73300. On the flip side, below 21750/72100 traders may prefer to exit out from the trading long positions. Below which, the index could retest the level of 21650-21575/70800-70600."
Shares of Infosys Ltd., Tata Consultancy Services Ltd., ICICI Bank Ltd., Reliance Industries Ltd., and HCL Technologies Ltd. contributed the most to the gains.
Meanwhile, those of Bajaj Finserv Ltd., Cipla Ltd., Asian Paints Ltd., and Mahindra & Mahindra Ltd., capped the upside
This week, Nifty IT and Nifty Realty ended over 4% higher and Nifty FMCG fell over 2%.
Broader markets underperformed. The S&P BSE Smallcap gained 0.36%, while the S&P BSE Midcap index rose 0.41%. On BSE, 16 sectors out of 20, advanced, while four declined. The S&P BSE Information Technology rose the most by over 5%.
The market breadth was skewed in favour of the buyers. About 2,111 stocks rose, 1,742 declined, and 89 remained unchanged on the BSE
Zomato Has 30.1 Lakh Shares Change Hands In A Large Trade
- 30.1 lakh shares changed hands in a large trade
- 0.03% equity changed hands at Rs 140.8 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
