Stock Market Today: Sensex, Nifty Hold Onto Slim Gains As Adani Stocks Extend Rally
Sensex was up 18 points or 0.03% at 61,981.79 while Nifty was higher by 34 points or 0.18% at 18,348.
KEY HIGHLIGHTS
FPIs Stay Buyers For The Second Straight Day
Overseas investors in Indian equities were buyers for the second day in a row on Tuesday.
They snapped the longest buying spree of 16 days in 2023 on Friday.
Foreign portfolio investors mopped up equities worth Rs 182.5 crore, according to data from the National Stock Exchange.
Domestic institutional investors were buyers for the third straight day and bought Rs 397.3 crore worth of equities.
Institutions have bought Rs 32,988 crore worth of equities in May so far, and have been net buyers of Rs 18,409 crore worth of Indian equities till date in 2023.
Yield On The 10-Year Rises
The yield on the 10-year bond closed 3 bps higher at 7.01% on Tuesday.
It closed at 6.98% on Monday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency appreciated by about 3 paise to close at 82.81 against the greenback on Tuesday.
The local currency closed at 82.83 on Monday.
Source: Bloomberg
Sensex, Nifty Gains For The Third Consecutive Day: Closing Bell
Indian equity benchmarks shed gains to end marginally higher on Tuesday after private banks dragged and Adani stocks led the gains spurred by an Indian court panel’s report that found no conclusive evidence of stock-price manipulation as alleged by U.S. short seller Hindenburg Research. Adani Ports and SEZ Ltd. recouped all its losses from Jan. 23, 2023 intraday.
While metal and media sectors advanced, I.T. and realty shares declined. The headline indices closed over its one-week high after advancing for the third consecutive session in trade.
U.S. equity futures were unchanged, whereas Asian equities were mixed after President Joe Biden and House Speaker Kevin McCarthy said they had a productive talk on the debt ceiling. While Biden said that he and McCarthy had agreed default was off the table in ongoing talks, investors remain on tenterhooks.
Tokyo’s Topix index fell for the first time in eight days, with semiconductor-related stocks turning lower on news that Japan’s tighter export controls will take effect July 23.
In Europe, French stocks led declines after the economy grew at the slowest pace in four months. Christian Dior SE, Hermes International and other luxury shares dropped.
The S&P BSE Sensex Index was up 18 points or 0.03% at 61,981.79 while the NSE Nifty 50 Index was higher by 34 points or 0.18% at 18,348.
Adani Enterprises Ltd., ITC Ltd., Infosys Ltd., Divi's Laboratories Ltd., and Asian Paints Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, Kotak Mahindra Bank Ltd., HDFC Bank Ltd., Larsen and Toubro Ltd., Reliance Industries Ltd., and HCL Technologies Ltd., and were negatively contributing to the change
All Adani Group stocks advanced in trade as Adani Ports and Special Economic Zone Ltd. climbed 7.7% intraday hitting its day's high at Rs 778.50 apiece, becoming the first of the group's 10 listed stocks to recoup all losses after the Hindenburg allegations. It closed at Rs 769.05 apiece on Jan. 23, ahead of the release of report.
The broader markets indices ended higher; the S&P BSE MidCap Index was up 0.43%, whereas S&P BSE SmallCap Index was higher by 0.11%.
Six out of the 19 sectors compiled by BSE advanced, while 13 sectors declined.
The market breadth was split between the buyers and sellers. About 1,780 stocks rose 1,728 declined, and 125 remained unchanged on the BSE.
Stocks At 52-Week High Intraday
Nifty 500 stocks trading at 52-week low intraday.
