Stock Market Today: Sensex, Nifty Rebound After Two-Day Fall As RIL, Infosys Lead; I.T. Stocks Advance
Live updates on India's equity markets on Aug. 14.
KEY HIGHLIGHTS
Rupee Weakens Against The U.S. Dollar
Sensex, Nifty Rebound After Two-Day Fall: Closing Bell
Havells To Explore Setting Up Refrigerator Manufacturing Facility In Rajasthan
Lupin Gets U.S. FDA Approval For Doxycycline Hyclate Delayed-Release Tablets
Merchandise Trade Deficit Sees Modest Rise Amidst Decline In Exports And Imports
FPIs Remain Net Sellers
Overseas investors turned net sellers of Indian equities on Monday for the second session in a row.
Foreign portfolio investors offloaded Indian stocks worth Rs 2,324.23 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers and mopped up stocks worth Rs 1,460.9 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,23,762 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.21% on Monday. It closed at 7.2% on Friday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 12 paise to close at Rs 82.96 against the U.S dollar on Monday.
It closed at 82.84 on Friday.
Source: Bloomberg
Sensex, Nifty Rebound After Two-Day Fall: Closing Bell
India's benchmark stock indices pared early losses to end marginally high, snapping two days of losses as I.T. and FMCG sectors advanced. Few private banks also recovered in trade, whereas metals continued to drag.
Sensex slipped below 65,000 level, intraday, the most in over a month since July 3, 2023, whereas Nifty Bank tumbled below the 44,000 mark. Indian markets will be shut on Tuesday for Independence day.
The S&P BSE Sensex closed up 79 points, or 0.12%, at 65,401.92, while the NSE Nifty 50 was 6 points, or 0.03%, higher at 19,434.55.
Stocks and bonds rose as China moved to address a worsening property slump, shoring up confidence in global markets. U.S. equity futures advanced.
Shares in mainland China declined while almost all of the 80 members of Hong Kong’s Hang Seng Index slipped Monday. Focus later this week will be on minutes of Fed’s latest policy meeting as traders seek clues on the central bank’s next move.
The yen steadied after breaching its year-high level of 145.07 versus the dollar as investors started to monitor for any signs the government may intervene as it did last year.
Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., Hindustan Unilever Ltd., and Larsen & Toubro Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., State Bank of India, Adani Enterprises Ltd., JSW Steel Ltd., and Hindalco Industries Ltd. were negatively contributing to the change.
The broader market indices underperformed its larger peers; the S&P BSE MidCap Index was down 0.44%, whereas S&P BSE SmallCap Index was 0.50% lower.
Sixten the 19 sectors compiled by BSE declined. The S&P BSE Metal and S&P BSE Commodities indices fell the most. S&P BSE Fast Moving Consumer Goods, S&P BSE Information Technology, and S&P Teck on the other hand, advanced.
The market breadth was skewed in the favour of the sellers. About 1,548 stocks rose, 2,172 declined, while 175 remained unchanged on the BSE.
Havells To Explore Setting Up Refrigerator Manufacturing Facility In Rajasthan
Exploring possibility of setting up refrigerator manufacturing plant of 10,000 unit capacity in Ghiloth, Rajasthan.
Estimated investment of Rs 350 crore required for the plant.
Project to be financed using internal accruals.
Source: Exchange filing
