Stock Market Today: Sensex, Nifty End Volatile Session Lower Ahead Of MSCI Rejig
Sensex closed down 36 points or 0.06% at 61,904.52 while Nifty was lower by 18 points or 0.10% at 18,297.
KEY HIGHLIGHTS
Longest FPI Buying Spree In 2023 Yet
Overseas investors in Indian equities remained net buyers for the eleventh day in a row on Thursday, marking their longest buying spree in the year so far.
Foreign portfolio investors mopped up equities worth Rs 837.21 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained sellers for a second day, and sold stocks worth Rs 200.09 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 32,581.78 crore worth of stocks so far in 2023.
Yield On 10-Year Bond Declines
The yield on 10-year bond declined 2 basis points to close at 7.02% on Thursday. It had closed at 7.04% on Wednesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency depreciated by 10 paise to close at 82.09 against the greenback on Thursday.
The local currency closed at 81.99 on Wednesday.
Source: Bloomberg
Sensex, Nifty Close Volatile Day Of Trade Lower As L&T, RIL Drag
Indian equity benchmarks ended the volatile day lower as the shares pharmaceutical companies declined through the day. The S&P BSE Sensex traded above the 62,000 mark intraday, the most in nearly five months since Dec. 15, 2022.
U.S. equity futures ticked higher and European stocks rose as more investors said the Federal Reserve is likely to pause interest-rate hikes on the back of cooling inflation data.
Contracts on the S&P 500 and the Nasdaq 100 advanced by about 0.3%. In U.S. premarket trading, Walt Disney Co. dropped after predicting a wider loss for its streaming service this quarter.
Investors have more market-moving events to contend with Thursday, with the Bank of England expected to tighten policy for a 12th consecutive meeting, hiking its key rate by a further 25 basis points to the highest since 2008. Later in the day, U.S. initial jobless claims and producer prices data will provide the latest snapshot of the state of the economy.
The S&P BSE Sensex Index closed down 36 points or 0.06% at 61,904.52 while the NSE Nifty 50 Index was lower by 18 points or 0.10% at 18,297.
Hindustan Unilever Ltd., Asain Paints Ltd., HDFC Ltd., Adani Enterprises Ltd., and ICICI Bank Ltd. were positively contributing to the change in the Nifty 50 Index.
Whereas, Larsen and Toubro Ltd., Relaince Industries Ltd., ITC Ltd., Dr. Reddy's Laboratories Ltd., and Infosys Ltd. were negatively adding to the change.
The broader market indices outperformed the larger peers; the S&P BSE MidCap Index was up by 0.36%, whereas S&P BSE SmallCap Index was higher by 0.68%.
Six out of the 20 sectors compiled by BSE declined, while 14 advanced in trade.
The market breadth was skewed in the favour of the buyers. About 2,045 stocks rose 1,437 declined, and 150 remained unchanged on the BSE.
Neuland Laboratories Q4 FY23 (Consolidated, YoY)
Revenue up 59.09% at Rs 407.07 crore vs Rs 255.87 crore
Ebitda up 208.44% at Rs 119.86 crore vs Rs 38.86 crore
Ebitda margin at 29.44% vs 15.19%
Net profit up 288.15% at Rs 84.54 crore vs Rs 21.78 crore
Source: Exchange filing
