Stock Market Today: Sensex, Nifty Decline As RIL, ICICI Bank Drag; FPIs Turn Net Sellers
Sensex was down 216 points or 0.34% at 63,168.30 while the Nifty was 71 points or 0.37% lower at 18,755.45.
KEY HIGHLIGHTS
Indian Rupee Ends Flat Against The U.S. Dollar
Sensex, Nifty End Lower: Closing Bell
Stocks In Focus: Bharti Airtel, Grasim, Nykaa, Bajaj Twins, Titan And More
Talking Point: Will Capex Outshine Other Sectors; More Steam Left In Financials?
HPCL Gets Long-Term OPaL Contract For Natural Gas Supply; Enters Partnership With Petromin
FPIs Snap Four-Day Buying Streak To Turn Net Sellers
Overseas investors in Indian equities snapped four-day buying streak to turn net sellers on Monday.
Foreign portfolio investors offloaded stocks worth Rs 1,030.9 crore, according to data from the National Stock Exchange. This was the highest worth of selling in 10 days, since June 9.
Domestic institutional investors also turned net sellers and sold equities worth Rs 365.2 crore, the NSE data showed.
Foreign institutions net bought Rs 16,587 crore worth of equities in June. They have been net buyers of Rs 45,846 crore worth of Indian equities so far in 2023, according to the National Securities Depository Ltd.
Yield On The 10-Year Bond Rises
The yield on the 10-year bond closed 2 basis points higher at 7.06% on Monday, it closed at 7.04% on Friday.
Source: Bloomberg
Indian Rupee Ends Flat Against The U.S. Dollar
The local currency closed flat at 81.94 against the U.S. dollar on Monday.
Source: Bloomberg
Sensex, Nifty End Lower: Closing Bell
India's benchmark stock indices declined through Monday after a higher open. While, private banking and realty sectors declined, PSU banks were under pressure. ICICI Bank Ltd., and RIL Ltd. dragged whereas, Bajaj Finance Ltd. and TCS Ltd. advanced.
Global stocks fell on Monday, striking a more cautious note after the Wall Street’s powerful second-quarter rally lost steam at the end of last week. Chemical and construction firms paced declines in Europe, while banking stocks outperformed.
Chinese tech companies fell with Alibaba Group Holding Ltd, JD.com Inc. and Baidu Inc. all tumbling more than 3% to drag the Hang Seng Tech index as much as 2.9% lower.
U.S. stock and bond markets are closed Monday for a holiday. Futures contracts on the S&P 500 and Nasdaq 100 traded little changed.
The S&P BSE Sensex Index was down 216 points or 0.34% at 63,168.30 while the NSE Nifty 50 Index was 71 points or 0.37% lower at 18,755.45.
Bajaj FinanceLtd., TCS Ltd., HDFC Bank Ltd., Infosys Ltd., and HDFC Ltd. were positively adding to the change.
Whereas, Reliance Industries Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., Axis Bank Ltd., and Adani Enterprises Ltd. were negatively contributing to the change.
The broader market indices outperformed the larger peers; the S&P BSE MidCap Index was down 0.08%, whereas S&P BSE SmallCap Index was higher by 0.24%.
Fourteen out of the 20 sectors compiled by BSE declined with S&P BSE Telecommunication falling the most, while six sectors advanced.
The market breadth was skewed in the favour of sellers. About 1671 stocks rose, 1984 declined, while 172 remained unchanged on the BSE.
