Stock Market Today: Sensex, Nifty Rise For Second-Straight Day; FPIs Remain Net Sellers
The S&P BSE Sensex was up by 126 points or 0.21% at 61,294.20 while the NSE Nifty 50 was 35 points or 0.19% higher at 18,232.55.
KEY HIGHLIGHTS
FPIs Remain Net Sellers
Overseas Investors in Indian equities continue being net sellers for the eighth straight day on Tuesday.
Foreign portfolio investors off loaded equities worth Rs 628.07 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors continued their buying spree and remained net buyers for the 20th staright day. As per NSE, they bought equities worth Rs 350.57 crore.
Institutions net bought Rs 14,398.8 crore worth of equities in December so far, and net sold Rs 1,053 crore worth of Indian equities in 2022.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed lower by 2 bps on Tuesday at 7.32%. It closed at 7.34 on Monday.
Source: Bloomberg
Rupee Depreciates Against The U.S. Dollar
The local currency closed at 82.89 on Tuesday, depreciating 14 paise from Monday's close.
It closed at 82.75 on Monday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices traded flat through Tuesday and recouped losses in the last half of the day, extending gains for second-straight day in the new year.
The S&P BSE Sensex was up by 126 points or 0.21% at 61,294.20 while the NSE Nifty 50 was 35 points or 0.19% higher at 18,232.55.
HDFC Life Insurance Co., SBI Life Insurance Co., Axis Bank Ltd., JSW Steel Ltd., TCS Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Hindalco Industries Ltd., Britannia Industries Ltd., JSW Steel Ltd., Mahindra and Mahindra Ltd. and Reliance Industries Ltd. were the top losers in the gauge.
The broader market indices were trading higher; S&P BSE MidCap was up by 0.22%, whereas S&P BSE SmallCap was higher by 0.18%.
Fifteen out of the 19 sectoral indices compiled by BSE advanced, while four declined.
The market breadth was skewed in favour of the bulls. About 2,045 rose, 1,480 declined, and 140 remained unchanged on the BSE.
Hero Electric, Exicom Ink Pact For Supply Of Battery Management Systems
Exicom has signed agreement to supply battery management systems (BMS) to Hero Electric's two-wheelers in India.
It will provide Hero Electric with intelligent BMS built around innovative technologies, multi-level safety checks and advanced features.
BMS will allow Hero Electric to comply with AIS-156 safety norms.
Hero Electric intends to buy 5 lakh units of Exicom BMS per annum.
Source: Press release
