Stock Market Today: Sensex Snaps 11-Day Winning Streak; RIL, HDFC Bank Drag; FPIs Turn Net Sellers
Sensex closed 242 points, or 0.36%, at 67,596.84 while Nifty was 59 points or 0.29% lower at 20,133.30.
KEY HIGHLIGHTS
World View: Time For India To Reign Amid Rising Tension On China?
Indian Rupee Closes At Tts Weakest-Ever Level Of 83.27 Against The U.S Dollar
Sensex Snaps 11-Day Rise, Nifty Ends Lower HDFC Bank, RIL, Infosys Drag: Market Wrap
Fortis Healthcare Has 10.5 Lakh Shares Change Hands
Power Grid Corp Of India Has 50 Lakh Shares Change Hands
World View: Time For India To Reign Amid Rising Tension On China?
FPIs Snap Two-Day Buying Streak To Turn Net Sellers
Overseas investors turned net sellers of Indian equities after two days on Monday.
Foreign portfolio investors offloaded stocks worth Rs 1,236.51 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers and mopped up equities worth Rs 552.55 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,30,820 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 2 bps Lower at 7.18% on Monday.
Source: Bloomberg
Indian Rupee Closes At Tts Weakest-Ever Level Of 83.27 Against The U.S Dollar
The local currency depreciated 9 paise to close at all time weakest level of 83.27 against the U.S. dollar on Monday.
It closed at 83.18 on Friday.
As per intraday trade, Rs 83.29 per dollar remains the weakest-ever level the rupee touched on Oct. 10, 2022.
Source: Bloomberg
Sensex Snaps 11-Day Rise, Nifty Ends Lower HDFC Bank, RIL, Infosys Drag: Market Wrap
India's benchmark stock indices opened lower and declined through Monday. Nifty snapped three days of gains, whereas Sensex snapped 11 days of advance, which was its longest streak of gains since October 2007.
PSU banks and auto sectors led as Nifty Auto hit a lifetime high and Nifty PSU Bank scaled fresh a 12-year high intraday. Realty, media and metal sectors fell, on the other hand.
The S&P BSE Sensex closed 242 points, or 0.36%, at 67,596.84 while the NSE Nifty 50 was 59 points or 0.29% lower at 20,133.30.
Stocks fell as traders took risk off the table ahead of a raft of policy decisions this week that will reveal how major central banks view progress in the fight against inflation. The Stoxx Europe 600 fell 0.5%.
U.S. equity futures signaled a slight rebound from Friday’s declines on Wall Street. Apple Inc. gained, with analysts positive about pre-orders for the latest iPhone.
In Asia, a gauge of the region’s shares fell, dragged down by tech names. Hong Kong’s Hang Seng Index slipped 1.4%, while China’s CSI 300 Index erased losses as traders drew support from data last week that pointed to signs of stabilization.
Titan Co., Mahindra & Mahindra Ltd., ITC Ltd., NTPC Ltd., and Power Grid Corp of India Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Bharti Airtel Ltd., and Kotak Mahindra Bank Ltd. were negatively contributing to the change.
The broader market indices ended lower; the S&P BSE MidCap Index was up 0.27%, whereas S&P BSE SmallCap Index was also 0.60% higher.
Eight out of 20 sectors compiled by BSE advanced, while the other 12 sectors declined. S&P BSE Utilities and S&P BSE Consumer Durables rose, where as S&P BSE Telecommunication and S&P BSE Realty fell the most.
The market breadth was skewed in the favour of the sellers. About 1,699 stocks rose, 2,074 declined, while 174 remained unchanged on the BSE.
Fortis Healthcare Has 10.5 Lakh Shares Change Hands
10.5 lakh shares changed hands in a large trade.
0.14% equity changed hands at Rs 325.20 apiece.
Buyers and sellers not known immediately.
Source: Bloomberg
