Stock Market Today: Sensex, Nifty End Volatile Session Off Record High; FPIs Turn Net Buyers
Sensex closed up 52 points, or 0.08%, at 67,519.00 points, while Nifty was 33 points of 0.16% higher at 20,103.10 points.
KEY HIGHLIGHTS
Indian Rupee Weakens Against The U.S. Dollar
Sensex, Nifty End Higher For Second Day As Infosys, M&M Lead; Metals, PSU Banks Advance
Indian Overseas Bank Has 18.5 Lakh Shares Change Hands
NMDC Shares Hit An Over Two-Year High After It Raises Iron Ore List Prices
Indus Tower Has 20.6 Lakh Shares Change Hands
FPIs Snap Two-Day Selling Streak To Turn Net Buyers
Overseas investors turned net buyers of Indian equities after two days on Thursday.
Foreign portfolio investors mopped up stocks worth Rs 294.69 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors became net sellers and offloaded stocks worth Rs 50.80 crore, after being net buyers for five consecutive days, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,29,830 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 7 bps lower at 7.13% on Thursday.
Source: Bloomberg
Indian Rupee Weakens Against The U.S. Dollar
The local currency weakened 5 paise to close at Rs 83.04 against the U.S dollar on Thursday.
It closed at 82.99 on Wednesday.
Source: Bloomberg
Sensex, Nifty End Higher For Second Day As Infosys, M&M Lead; Metals, PSU Banks Advance
India's benchmark stock indices fluctuated through Thursday after scaling record highs in early trade. The indices advanced for the second day after being dragged down by the small and mid cap rout on Tuesday.
Sensex rose 0.45% to scale a new high at 67,771.05 points intraday, while Nifty 50 advanced 0.49% to hit record high at 20,167.65 points. Broader markets were outperforming larger peers as Nifty Smallcap 250 rose as much as 1.47% and Nifty Midcap 150 advanced 1.05% intraday.
PSU banks, metal, realty and auto sectors led while fast moving consumer goods, media and consumer durables were under pressure.
The S&P BSE Sensex closed up 52 points, or 0.08%, at 67,519.00 points, while the NSE Nifty 50 was 33 points of 0.16% higher at 20,103.10 points.
European stocks were little changed and the euro edged higher as traders braced for the European Central Bank’s interest-rate decision. The Stoxx 600 was steady, while S&P 500 futures climbed after Wednesday’s U.S. inflation report was in line with estimates, fanning hopes the Federal Reserve will pause rate hikes.
Japan’s Nikkei 225 outperformed the region and equities in South Korea and Australia also gained. Hong Kong and mainland China shares fluctuated as concerns remained in the property sector. Country Garden Holdings Co. fell as the deadline approaches for holders of a yuan bond to vote on the company’s repayment extension request.
Infosys Ltd., Mahindra & Mahindra Ltd., Hindalco Industries Ltd., Axis Bank Ltd., and Tata Steel Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, ITC Ltd., Asian Paints Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., and HDFC Bank Ltd. were negatively contributing to the change.
The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 1.02%, whereas S&P BSE SmallCap Index was also 1.15% higher.
All the 20 sectors compiled by BSE advanced. S&P BSE Realty, S&P BSE Metal, S&P BSE Oil & Gas and S&P BSE Commodities rose the most.
The market breadth was skewed in the favour of the buyers. About 2,441 stocks rose, 1,207 declined, while 156 remained unchanged on the BSE.
Indian Overseas Bank Has 18.5 Lakh Shares Change Hands
18.5 lakh shares changed hands in a large trade..
0.01% equity changed hands at Rs 37.00 apiece
Buyers and sellers not known immediately.
Source: Bloomberg
