Stock Market Today: Sensex, Nifty Snap Three-Day Losing Streak; Adani Enterprises Up 4.8%
The S&P BSE Sensex closed up 170 points or 0.29% at 59,500.41 while the NSE Nifty 50 was 45 points or 0.25% higher at 17,648.95.
KEY HIGHLIGHTS
FPIs Remain Net Sellers
Overseas investors in Indian equities remained net sellers for the sixth day in a row on Monday.
Foreign portfolio investors offloaded equities worth Rs 6,792.8 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors mopped up stocks worth Rs 5,512.6 for the sixth day in a row, according to NSE data.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 36,025.09 crore of Indian stocks so far in 2023.
Yield On The 10-Year Largely Flat
The yield on the 10-year bond closed largely flat at 7.40% on Monday. It ended at 7.39% on Friday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened by 2 paise to 81.50 at close on Monday. It closed at 81.52 on Friday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices swung amid volatility before closing marginally higher in trade on Monday as the Adani Enterprises recovered along with other group stocks like Adani Ports and SEZ Ltd., ACC Ltd. and Ambuja Cement Ltd. The banking company shares also recovered their losses.
Europe shares and U.S. equity futures declined as caution crept in at the start of a week marked by interest-rate decisions, coupled with the big companies ready to report earnings on both sides of the Atlantic.
The S&P BSE Sensex closed up 170 points or 0.29% at 59,500.41 while the NSE Nifty 50 was 45 points or 0.25% higher at 17,648.95.
Adani Enterprises Ltd., Bajaj Finance Ltd., UltraTech Cement Ltd., Bajaj Finserv Ltd. and HCL Technologies Ltd. were the top gainers in the gauge.
Whereas, Power Grid Corp of India Ltd., JST Steel Ltd., IndusInd Bank Ltd., Bajaj Auto Ltd. and Larsen and ToubroLtd. and were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices traded marginally lower; S&P BSE MidCap was down 0.22%, whereas S&P BSE SmallCap was lower by 0.10%.
Twelve out of the 20 sectors compiled by BSE declined, while eight advanced in trade.
The market breadth was skewed in favour of the bears. About 1571 rose, 2,024 declined, 168 remained unchanged on the BSE.
