Stock Market Today: Sensex, Nifty End At Three-Week High As RIL, HDFC Bank, HUL Lead; FPIs Stay Net Sellers
Sensex closed up 394 points, or 0.60%, at 66,473.05, while Nifty was 122 points or 0.62% higher at 19,811.35.
KEY HIGHLIGHTS
FPIs Stay Net Sellers For The 16th Straight Day
Overseas investors remained net sellers of Indian equities on Wednesday for the 16th consecutive session.
Foreign portfolio investors offloaded stocks worth Rs 421.77 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers on Wednesday for the 14th consecutive session and mopped up equities worth Rs 1,032.02 crore, the NSE data showed.
In the last 16 sessions, the FPIs have sold equities worth Rs 27,949.02 crore, while the DIIs bought stocks worth Rs 20,173.51 crore, as per the NSE data.
Foreign institutions have been net buyers of Rs 1,12,660 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 Lower
The yield on the 10-year bond closed 5 bps Lower at 7.30% on Wednesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 6 paise to close at 83.19 against the U.S dollar on Wednesday.
It closed at 83.25 on Tuesday.
Source: Bloomberg
Sensex, Nifty Gain For The Second Day As RIL, HDFC Bank Lead; Realty Stocks Rise: Market Wrap
India's benchmark stock indices held on to gains through Wednesday to advance for the second day.
Realty, media, and auto sectors advanced, whereas I.T., and PSU banks were marginally lower. Nifty ended above 19,800 level, while Sensex was beyond the 66,400 mark, the highest levels in three weeks since Sept. 20.
"It is important to appreciate the fact that even in the midst of the West Asian crisis, markets are resilient, globally. The fundamental support to the market comes from the resilience of the U.S. economy, the declining U.S. bond yields and the hope that the Israel-Hamas conflict will remain a localised crisis which will not impact crude prices. However, investors should remain cautious since the situation taking a turn for the worse cannot be ruled out," said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The S&P BSE Sensex closed up 394 points, or 0.60%, at 66,473.05, while the NSE Nifty 50 was 122 points or 0.62% higher at 19,811.35.
The Stoxx Europe 600 index fluctuated after clocking its biggest gain of the year on Tuesday. LVMH slumped as much as 8.5% after reporting softening sales, a signal that the post-pandemic luxury boom is waning.
U.S. stock futures were little changed after both the S&P 500 and the Nasdaq 100 climbed 0.5% Tuesday.
Hong Kong equity gauges rallied, led by tech stocks, while mainland shares climbed following a Bloomberg report that China is considering raising its budget deficit. South Korea shares climbed nearly 2% while Australian and Japanese equities ended higher.
Reliance Industries Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., ITC Ltd., and Kotak Mahindra Bank Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, Tata Consultancy Services Ltd., HCL Technologies Ltd., State Bank of India, Coal India Ltd., and Adani Ports and Special Economic Zone Ltd. were negatively contributing to the change.
The broader market indices outperformed the larger peers; the S&P BSE MidCap Index was up 0.55%, whereas S&P BSE SmallCap Index was also 0.77% higher.
All the 20 sectors compiled by BSE advanced. S&P BSE Commodities and S&P BSE Telecommunication rose the most.
The market breadth was skewed in the favour of the buyers. About 2,350 stocks rose, 1,336 declined, while 136 remained unchanged on the BSE.
Infosys Has 14.4 Lakh Shares Change Hands
14.4 lakh shares changed hands in a large trade.
0.03% equity changed hands at Rs 1499.35 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
