Stock Market Today: Sensex, Nifty Rebound After Two-Day Drop Led By ITC, Airtel, Adani Enterprises
Sensex closed up 99 points or 0.16% at 61,872.62 while Nifty was higher 36 points or 0.20% at 18,321.15.
KEY HIGHLIGHTS
FPIs Stay Buyers For The Fourth Straight Day
Overseas investors in Indian equities remained buyers for the fourth day in a row on Thursday. They snapped the longest buying spree of 16 days in 2023 on May. 19.
Foreign portfolio investors mopped up equities worth Rs 589.10 crore, according to data from the National Stock Exchange.
Domestic institutional investors were buyers for the fifth straight day and bought Rs 338.44 crore worth of equities.
Institutions have bought Rs 34,805 crore worth of equities in May so far, and have been net buyers of Rs 20,226 crore worth of Indian equities till date in 2023.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed flat at 7% on Thursday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency depreciated by about 7 paise to close at 82.74 against the greenback on Thursday.
The local currency closed at 82.67 on Wednesday.
Source: Bloomberg
Sensex, Nifty Snap Two Days Of Losses
Indian equity benchmarks recovered from day's low to end higher on Thursday, breaking a two-day losing streak as realty stocks gained. ITC, Airtel and Adani Enterprises led the gains. The S&P BSE Sensex Index inched closer to 62,000 level, whereas NSE Nifty 50 Index was comfortably above the 18,300-mark.
Nasdaq futures rallied and chipmakers soared as a bullish sales forecast from Nvidia Corp. ignited gains in companies linked to the frenzy for artificial intelligence. Nvidia shares soared 23% in US premarket trading after its forecast for surging revenue surprised even the most optimistic analysts on Wall Street.
Contracts on the Nasdaq 100 added 1.6% and chipmaker ASM International NV led gains in the Stoxx 600 Index. Markets were broadly weaker in Hong Kong, with the Hang Seng Index shedding 2.1%. CSI 300 Index has gave up about half its gains.
The S&P BSE Sensex Index closed up 99 points or 0.16% at 61,872.62 while the NSE Nifty 50 Index was higher 36 points or 0.20% at 18,321.15.
ITC Ltd., Bharti Airtel Ltd., Kotak Mahindra Bank Ltd., Larsen and Toubro Ltd., and Adani Enterprises Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., ICICI Bank Ltd., and Reliance Industries Ltd. were negatively contributing to the change
Adani Group company stocks ended mixed in trade as NDTV LTd., Adani Enterprises Ltd., Adani Power Ltd., Adani Ports and SEZ Ltd., and ACC Ltd. advanced while other stocks declined.
The broader markets indices ended higher; the S&P BSE MidCap Index was up 0.36%, whereas S&P BSE SmallCap Index was higher by 0.27%.
Sixteen out of the 20 sectors compiled by BSE advanced, while S&P BSE Commodities, S&P BSE Energy, S&P BSE Financial Services and S&P BSE Metal declined in trade.
The market breadth was skewed in the favour of the buyers. About 1,881 stocks rose 1,610 declined, and 120 remained unchanged on the BSE.
