Stock Market Today: Sensex, Nifty Log Worst Weekly Loss In Eight Months; FPIs Remain Net Sellers
The S&P BSE Sensex closed down 142 points or 0.24% at 59,463.93 while the NSE Nifty 50 was 46 point or 0.26% lower at 17,465.80.
KEY HIGHLIGHTS
FPIs Stay Net Sellers For The Third Straight Day
Overseas investors in Indian equities remained net sellers for the third day in a row on Friday.
Foreign portfolio investors offloaded equities worth Rs 1,470.34 crore, according to data from the National Stock Exchange.
Domestic institutional investors were net buyers for the third day in a row and mopped up stocks worth Rs 1,400.98 crore.
Foreign institutions have remained net sellers of Rs 45,973.6 crore of Indian stocks so far in 2023.
Yield On The 10-Year Rises
The yield on the 10-year bond closed 2 bps higher at 7.39% on Friday. It closed at 7.37% on Thursday.
Source: Bloomberg
Rupee Flat Against The U.S. Dollar
The local currency closed flat at 82.75 against the greenback on Friday.
Source: Bloomberg
Sensex, Nifty Close Lower For Sixth Consecutive Session
Indian equity benchmarks declined in trade after opening higher on Friday dragged by metal, PSU banking and Adani Group company stocks.
The market fell for the sixth consecutive trading session on Feb. 24, 2023, which has been the longest losing streak since the final week of September, last year.
Additionally, the indices slupmmed over 2% in trade this week.
Most Asia markets retreated, European stocks rose, while the U.S. index futures fell, as investors hunted for pockets of value amid hawkish central banks, disappointing earnings. Contracts on the S&P 500 and Nasdaq 100 slipped at least 0.2% each.
The S&P BSE Sensex closed down 142 points or 0.24% at 59,463.93 while the NSE Nifty 50 was 46 point or 0.26% lower at 17,465.80.
ONGC Ltd., Divi's Laboratories Ltd., Asian Paints Ltd., Adani Ports and SEZ Ltd., and Coal India Ltd. were the top gainers in the gauge.
Whereas, Hindalco Industries Ltd., Adani Enterprises Ltd., Mahindra and Mahindra Ltd., JSW Steel Ltd., and Tata Steel Ltd. were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices were ended marginally lower; S&P BSE MidCap was down 0.17% whereas S&P BSE SmallCap was lower by 0.15%.
Fifteehn out of the 19 sectors compiled by BSE declined while four advanced in trade.
The market breadth was skewed in favour of the bears. About 1,510 stocks rose, 1,937 declined, and 181 remained unchanged on the BSE.
After falling for six straight sessions, the headline indices logged steep declines this week.
Nifty logged it's lowest weekly loss in over eight months since the third week of June. This week, S&P BSE Sensex was down 2.52%, whereas NSE Nifty 50 was lower by 2.67% in trade.
Indices ended higher in trade lask week, Sensex rose 0.32% and Nifty was up 0.22%.
All the sectors declined in trade this week with Nifty Metal, Realty and Media being the top losers.
SpiceJet Q3 FY23 Highlights (YoY)
Revenue rose 2% to Rs 2,317 crore Vs Rs 2,263 crore
Net Profit rose 160% to Rs 110.5 crore vs Rs 42.5 crore
EBITDAR at Rs 89.83 crore Vs Rs 250 crore
EBITDAR margin at 3.9% Vs 11%
Source: Exchange filing
