Stock Market Today: Sensex, Nifty Decline For Third Day As Energy Stocks Drag; FPIs Remain Net Sellers
The S&P BSE Sensex was down 148 points or 0.25% at 59,958.03 while the NSE Nifty 38 was points or 0.21% lower at 17,858.20.
KEY HIGHLIGHTS
FPIs Remain Net Sellers
Overseas investors in Indian equities were net sellers for the 15th day in a row on Thursday.
Foreign portfolio investors offloaded stocks worth Rs 1,662.63 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net buyers for the fifth day in a row and mopped up stocks worth Rs 2,127.65 crore, after snapping out of a 21-day buying streak on Jan. 5.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December 2022, but have remained net sellers of Rs 14,996.69 crore of Indian stocks so far in 2023.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed largely flat at 7.29% on Thursday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 3 paise at 81.55 on Thursday. It closed at 81.58 on Wednesday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices closed marginally lower after remaining under pressure through Thursday.
Asian markets settled with steady gains, whereas the European markets were trading marginally higher on Thursday. Wall Street, meanwhile, will be on a look-out for the U.S. inflation data.
The S&P BSE Sensex was down 148 points or 0.25% at 59,958.03 while the NSE Nifty 38 was points or 0.21% lower at 17,858.20.
SBI Life Insurance Co., Ultratech Cement Ltd., HCL Technologies Ltd., Larsen and Toubro Ltd. and Dr. Reddy's Laboratories Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Divi's Laboratories Ltd., Reliance Industries Ltd., BPCL Ltd., Axis Bank Ltd. and Tata Motors Ltd. were the top losers in the gauge.
The broader market indices were trading lower; S&P BSE MidCap was down 0.24%, whereas S&P BSE SmallCap was lower at 0.02%.
Ten out of the 19 sectoral indices compiled by the BSE advanced, while nine declined.
The market breadth was skewed in favour of the bears. About 1,616 rose, 1,878 declined, 158 remained unchanged on the BSE.
Emami Realty Board Approves Conversion Of Rs 700-Crore Promoter Loans Into OCDs
Emami Realty Ltd.'s board has approved conversion of existing unsecured loan of Rs 700 crore of Suraj Finvest Ltd. and Diwakar Finvest Ltd. into optionally convertible debentures.
Since, the two entities are the promoter companies, about 8,53 lakh optionally convertible debentures of Rs 82 each will be assigned to them.
