Stock Market Today: Sensex, Nifty End Mixed As ITC, Asian Paints Drag; HDFC Bank, Tata Steel Lead
Sensex closed down 29 points or 0.04% at 66,355.71 while Nifty was 8 points or 0.04% higher at 19,680.60.
KEY HIGHLIGHTS
FPIs Turn Net Buyers
Overseas investors in Indian equities turned net buyers on Tuesday.
Foreign portfolio investors mopped up stocks worth Rs 1,088.76 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned net sellers and offloaded stocks worth Rs 333.7 crore, the NSE data showed.
Foreign institutions have net bought Rs 42,629 crore worth of equities so far in July. They have been net buyers of Rs 1,19,036 crore worth of Indian equities in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Rises
The yield on the 10-year bond rose 3 basis points to close at 7.1% on Tuesday. It closed at 7.07% on Monday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 4 paise to close at Rs 81.87 against the U.S dollar on Tuesday.
Rupee closed at 81.83 on Monday.
Source: Bloomberg
Sensex, Nifty End Mixed: Market Wrap
India's benchmark stock indices were little changed after swinging between gains and losses through Tuesday. The indices ended mixed after two days of fall. Metal and energy sectors advanced, while fast moving consumer goods and PSU banks were under pressure.
European stocks were muted on Tuesday as traders geared up for earnings from some of the world’s biggest corporations and key central bank rate decisions this week. The Stoxx Europe 600 index was little changed at the open.
U.S. equity futures edged higher after a mixed session on Wall Street, where the S&P 500 posted a modest gain while the Nasdaq 100 declined after a “special rebalance.”
Technology shares in Hong Kong jumped 5% while a China property stock gauge gained as the nation’s top leaders used a crucial Politburo meeting to flag more aid. Other Asian markets were narrowly mixed, with the benchmark index in Australia marginally higher and Japanese equities swinging between gains and losses.
The S&P BSE Sensex Index closed down 29 points or 0.04% at 66,355.71 while the NSE Nifty 50 Index was 8 points or 0.04% higher at 19,680.60.
HDFC Bank Ltd., Tata Steel Ltd., Hindalco Industries k Ltd., JSW Steel Ltd., and NTPC Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, ITC Ltd., Asian Paints Ltd. L&T Ltd., Kotak Mahindra Bank Ltd., and State Bank of India were negatively contributing to the change.
All Adani Group company stocks advanced with Adani Green Energy Ltd. rising over 10%, followed By Adani Power Ltd., Adani Transmission Ltd. and Adani Total Gas Ltd. which were trading above 5%.
The broader market indices outperformed lasrger peers; the S&P BSE MidCap Index was up 0.39%, whereas S&P BSE SmallCap Index was 0.31% higher.
Twelve out of the 19 sectors compiled by BSE advanced while seven sectors declined. S&P BSE Metal and S&P BSE Utilities rose the most.
The market breadth was split between the buyers and the sellers. About 1,745 stocks rose, 1,794 declined, while 141 remained unchanged on the BSE.
All Adani Group Company Stocks Advance
All Adani Group company stocks advanced with Adani Green Energy Ltd. rising over 10%, followed By Adani Power Ltd., Adani Transmission Ltd. and Adani Total Gas Ltd. which were trading above 5%.
