Stock Market Today: Sensex, Nifty Decline For Second-Straight Session; FPIs Turn Net Sellers
The S&P BSE Sensex closed down 237 points or 0.39% at 60,621.77 while the NSE Nifty 50 was 80 points or 0.44% lower at 18,025.65.
KEY HIGHLIGHTS
FPIs Turn Net Sellers
Overseas Investors in Indian equities turned net sellers after a day on Friday.
Foreign portfolio investors offloaded equities worth Rs 2,002.25 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors, mopped up stocks worth Rs 1,509.95, 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 19,880.11 crore of Indian stocks so far in 2023.
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened by 23 paise to 81.13 at close on Friday. It closed at 81.36 on Thursday.
Source: Bloomberg
Yield On The 10-Year Rises
The yield on the 10-year bond closed 4 bps higher at 7.35% on Friday. It ended at 7.31% on Thursday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices declined in the last leg of trade after trading largely flat through the day. Market continued its weekly winning streak for second consecutive session.
Asian markets ended higher on Friday before Lunar New Year holidays interrupt trading across many markets in the region next week.
China’s equity benchmark ended higher as foreign investors continued to buy local shares on the back of the nation’s economic reopening and pro-growth policies.On the other hand, European stocks and US equity-index futures were steady in trade.
The S&P BSE Sensex closed down 237 points or 0.39% at 60,621.77 while the NSE Nifty 50 was 80 points or 0.44% lower at 18,025.65.
Hindustan Unilever Ltd., Asian Paints Ltd., Bajaj Finance Ltd., Nestle India Ltd. and JSW Steel Ltd. were the top losers in the gauge.
Whereas, Coal India Ltd., Power Grid Corp of India Ltd., HDFC Bank Ltd., HDFC Ltd. and ITC Ltd. and were the top gainers amongst the NSE Nifty 50 constituents.
The broader market indices were trading lower; S&P BSE MidCap was down 0.66%, whereas S&P BSE SmallCap was lower by 50%.
Fourteen out of the 19 sectors compiled by BSE declined, while five advanced in trade.
The market breadth was skewed in favour of the bears. About 1,570 rose, 1,916 declined, 153 remained unchanged on the BSE.
After falling for the first week of the new year, the headline indices rose for the second cosecutive week in ther third week of 2023.
Sensex was up 0.60% and Nifty was higher by 0.40% in this week. The indices rose by 0.60% and 0.54% respectively last week.
Sectorally, Nifty IT, Bank and Realty indices gained this week.
On the other hand, Nifty Media, PSU Bank, Auto and Smallcap 100 declined more than 1% this week..
European Markets Trade Higher
