Stock Market Today: Sensex, Nifty Extend Declines For Third-Straight Session; FPIs Remain Net Sellers
The S&P BSE Sensex closed down 874 points or 1.45% at 59,330.90 while the NSE Nifty 50 was 288 points or 1.61% lower at 17,604.35.
KEY HIGHLIGHTS
FPIs Remain Net Sellers
Overseas investors in Indian equities remained net sellers of Indian equities for the fifth day in a row on Friday.
Foreign portfolio investors offloaded equities worth Rs 5,977.86 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors mopped up stocks worth Rs 4,252.33 for the fourth 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 29,232.29 crore of Indian stocks so far in 2023.
Yield On The 10-Year Rises
The yield on the 10-year bond rose 4 bps at 7.39% on Friday. It ended at 7.35% on Wednesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened by 7 paise to 81.52 at open on Friday. It closed at 81.59 on Wednesday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices declined for third consecutive session in trade on Friday. On a weekly basis, the indices snapped their two week gaining streak.
Asian stocks advanced for the sixth-straight day and the European markets were trading marginally higher after a mixed opening.
U.S. equities ended higher on Thursday after a rally in technology shares helped investors shake off mixed economic data, but recession fears remained.
The S&P BSE Sensex closed down 874 points or 1.45% at 59,330.90 while the NSE Nifty 50 was 288 points or 1.61% lower at 17,604.35.
Tata Motors Ltd., Bajaj Auto Ltd., Dr. Reddy's Laboratories Ltd., ITC Ltd. and Divi's Laboratories Ltd. were the top gainers in the gauge.
Whereas, Adani Enterprises Ltd., Adani Ports and SEZ Ltd., State Bank of India, ICICI Bank Ltd., IndusInd Bank Ltd., ONGC Ltd., BPCL Ltd., Kotak Mahindra Bank Ltd., Axis Bank Ltd. and Hindalco Industries Ltd. and were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices underperformed their larger peers and traded lower; S&P BSE MidCap was down 1.29%, whereas S&P BSE SmallCap was lower by 1.89%.
Seventeen out of the 20 sectors compiled by BSE declined, while three advanced, namely; S&P BSE Fast Moving Consumer Goods, S&P BSE Healthcare and S&P BSE Auto.
The market breadth was skewed in favour of the bears. About 905 rose, 2,648 declined, 105 remained unchanged on the BSE.
After rising for two consecutive weeks, the headline indices snapped the advance and fell in the fourth week of 2023.
Sensex was down 2.13% and Nifty was lower by 2.35% in this week. The indices rose by 0.60% and 0.40% respectively last week.
Sectorally, Nifty Auto, FMCG and IT indices gained this week.
On the other hand, Nifty PSU Bank, Metal, Bank and Realty indices fell more than 4% in trade.
NHAI Declares Dilip Buildcon As L1 Bidder For Construction Of Highways Worth Rs 1,373.6-Crore From Bengaluru To Vijaywada
First highway is a six-Lane access conrolled greenfield highway from Kodur to Vanavolu, which will cost Rs 599.50 crore.
The second highway from Odulapalle to Nallacheruvupalli will cost Rs 774.10 crore.
The completion period for both the highways are 24 months in hybrid annuity mode.
Source: Exchange filing
