Stock Market Today: Sensex, Nifty Drop For Second Day As Infosys, Kotak Bank, RIL, TCS Drag
Sensex closed down 372 points or 0.60% at 61,560.64 while Nifty was lower by 105 points or 0.57% at 18,181.75.
KEY HIGHLIGHTS
FPIs Stay Buyers For The 15th Straight Day
Overseas investors remained net buyers of Indian equities for 15 days in a row on Wednesday, marking the longest buying spree so far in 2023.
Foreign portfolio investors mopped up equities worth Rs 149.3 crore, according to data from the National Stock Exchange.
Domestic institutional investors were sellers for the second straight day and offloaded stocks worth Rs 203.9 crore, the NSE data showed.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed flat at 6.97% on Wednesday.
It closed at 6.96% on Tuesday, the lowest in over 13 months.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency depreciated by 18 paise to close at 82.40 against the greenback on Wednesday.
The local currency closed at 82.22 on Tuesday.
Source: Bloomberg
Sensex, Nifty Decline For The Second Consecutive Session
Indian equity benchmarks declined through Wednesday as heavyweights like Infosys, Kotak Mahindra Bank, and Reliance Industries dragged the benchmarks. ITC was the top leader on the NSE Nifty 50 Index, ahead of its Q4 earnings announcement on Thursday. Media and real estate sectors were the top losers, whereas, auto and FMCG stocks were little changed on the upside.
Global markets traded mixed with risk-taking tempered by disappointing data out of China, inflation numbers awaited in Europe and deadlocked talks in Washington. Japan equities extended their winning streak as better-than-expected economic growth fueled optimism over the market’s outlook.
U.S. stock futures rose as White House and congressional negotiators continued to try to breach an impasse to raise the debt ceiling. European stocks were little changed ahead of a read on Eurozone inflation that will help shape bets on the rate-hiking cycle.
The S&P BSE Sensex Index closed down 372 points or 0.60% at 61,560.64 while the NSE Nifty 50 Index was lower by 105 points or 0.57% at 18,181.75.
Infosys Ltd., Kotak Mahindra Bank Bank Ltd., TCS Ltd., Reliance Industries Ltd., and HDFC Bank Ltd. were negatively contributing to the change in the Nifty 50 Index.
Whereas, ITC Ltd., Bharti Airtel Ltd., IndusInd Bank Ltd., Maruti Suzuki India Ltd., Hero MotoCorp Ltd., and BPCL Ltd. were positively adding to the change.
The broader markets indices ended mixed; the S&P BSE MidCap Index was down 0.16%, whereas S&P BSE SmallCap Index was higher by 0.25%.
Sixteen out of the 19 sectors compiled by BSE declined, while S&P BSE Fast Moving Consumer Goods, S&P BSE Industrials and S&P BSE Auto advanced.
The market breadth was split between the buyers and the sellers. About 1,717 stocks rose 1,773 declined, and 135 remained unchanged on the BSE.
Hester Biosciences Q4 FY23 (Consolidated, YoY)
Revenue up 19% at Rs 67 crore Vs Rs 56 crore
Net profit down 41% to Rs 4.5 crore Vs Rs 7.7 crore
Operating profit up 13% at Rs 12 crore Vs Rs 10 crore
Margins at 17.3% vs 18.3%
Source: Bloomberg, Exchange filing
