Stock Market Today: Sensex, Nifty Recover Led By IT, Realty, Auto Stocks; FPIs Remained Net Buyers
The S&P BSE Sensex closed up 243 points or 0.40% at 61,275.09 while the NSE Nifty 50 was 86 points or 0.48% higher at 18,015.85.
KEY HIGHLIGHTS
FPIs Stay Net Buyers For The Fourth Straight Day
Overseas investors in Indian equities remained net buyers for the fourth day in a row on Wednesday.
Foreign portfolio investors mopped up equities worth Rs 432.15 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net buyers for the third day in a row and bought stocks worth Rs 516.64 crore. They previously snapped a 13-day buying streak on Feb. 9.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 43,819.06 crore worth of Indian stocks so far in 2023.
Yield On The 10-Year Declines
The yield on the 10-year bond closed 2 basis points lower at 7.35% on Wednesday. It closed at 7.37% on Tuesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 4 paise to 82.80 at close against the greenback on Wednesday. It closed 82.76 on Tuesday.
Source: Bloomberg
Sensex, Nifty Recoup Losses, Ends With Gains
Indian equity benchmarks recovered from the day's low and closed higher amid weak Asia trade on Wednesday.
Asian markets declined, European stocks were steady, while the Wall Street equity futures pared their losses as investors weighed how the latest inflation data from the U.S. and the U.K. will affect the outlook for interest rates and as they digested results from major companies.
The S&P BSE Sensex closed up 243 points or 0.40% at 61,275.09 while the NSE Nifty 50 was 86 points or 0.48% higher at 18,015.85.
Tech Mahindra Ltd., Apollo Hospitals Enterprise Ltd., Eicher Motors Ltd., Reliance Industries Ltd., and Adani Enterprises Ltd. and were the top gainers in the gauge.
Whereas, Hindustan Unilever Ltd., Sun Pharmaceutical Industries Ltd., ONGC Ltd., Larsen and Toubro Ltd., and IndusInd Bank Ltd. were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices were trading marginally higher; S&P BSE MidCap was up 0.69%, whereas S&P BSE SmallCap was higher by 0.36%.
Fifteen out of the 20 sectors compiled by BSE advanced, while five declined in trade.
The market breadth was skewed in the favour of bulls. About 1,786 stocks rose, 1,677 declined, and 137 remained unchanged on the BSE.
