Stock Market Today: Sensex Gains Most In A Week; Nifty Ends Above 17,100
Sensex Index closed up 446 points or 0.77% at 58,074.68 while the Nifty Index was 119 points or 0.70% higher at 17,107.50.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed flat at 7.33% on Tuesday.
FPI Outflow Continues Unabated
Foreign investors in Indian equities remained net sellers for ninth day in a row.
Foreign portfolio investors sold equities worth Rs 1,454.63 crore on Tuesday, according to data from the National Stock Exchange.
Meanwhile, domestic institutional investors remained net buyers for the ninth consecutive day as they bought equities worth Rs 1,946.06 crore.
Foreign institutions invested in Indian equities have remained net sellers so far in 2023, selling equities Rs 50,147.64 crore.
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 3 paise to close at 82.67 against the greenback on Tuesday. It closed at 82.64 on Monday.
Source: Bloomberg
Sensex, Nifty End With Gains At The Closing Bell
Indian equity benchmarks held on to gains through Tuesday and advanced after midday to end higher in trade.
Asian markets advanced as immediate concerns over the strength of the global financial system dissipated. Futures for the S&P 500 rose slightly after reports that the U.S. officials are studying ways to temporarily guarantee all bank deposits if the current financial turbulence spreads.
However, the mood remained cautious ahead of the outcome of the U.S. Federal Open Market Committee's meeting, as most investors have increased bets on a quarter-point hike.
The S&P BSE Sensex Index closed up 446 points or 0.77% at 58,074.68 while the NSE Nifty 50 Index was 119 points or 0.70% higher at 17,107.50.
HDFC Life Insurance Co., Reliance Industries Ltd., Bajaj Finance Ltd., Bajaj Auto Ltd., and Titan Co. were the top gainers of the NSE Nifty 50 gauge.
Whereas, Hindustan Unilever Ltd., Power Grid Corp of India Ltd., Britannia Industries Ltd., Tech Mahindra Ltd., and TCS Ltd., were the top losers of the NSE Nifty 50 gauge.
Most Adani Group company stocks advanced in trade, except Adani Ports and SEZ Ltd., Adani Transmission Ltd., NDTV Ltd.. On the other hand, Adani Enterprises Ltd. rose 1%, also Adani Green Energy Ltd. and Adani Power Ltd. rose 5%, respectively.
The broader market indices were trading higher; S&P BSE MidCap was up 0.66% whereas S&P BSE SmallCap was higher by 0.50%.
Fifteen out of the 20 sectors compiled by BSE advanced, whereas five sectors declined in trade.
The market breadth was skewed in the favour of the buyers. About 2,001 stocks rose 1,513 declined, and 134 remained unchanged on the BSE.
