Stock Market Today: Sensex, Nifty End At A Nine-Week High As I.T., Realty Stocks Lead
Sensex closed up 349 points or 0.58% at 60,649.30 while the Nifty was higher by 102 points or 0.57% at 17,915.05.
KEY HIGHLIGHTS
FPIs Stay Net Buyers For The Second Straight Day
Overseas investors in Indian equities remained net buyers for the second day in a row on Thursday.
Foreign portfolio investors mopped up equities worth Rs 1,257.5 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned buyers after a day and bought stocks worth Rs 97.1 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 48,150.2 crore worth of stocks so far in 2023.
Yield On The 10-Year Bond Flat
The yield on the 10-year bond closed flat at 7.10% on Thursday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 7 paise to close at 81.84 against the greenback on Thursday.
It closed at 81.77 on Wednesday.
Source: Bloomberg
Sensex Rises For The Sixth Consecutive Session
Indian equity benchmarks closed at a nine-week high on Thursday. While realty and I.T. stocks rose, FMCG companies ended weaker in trade. Nifty ended the highest since Feb. 17, 2023, whereas Sensex rose the most since Feb. 21.
Stocks in Europe rose after reversing losses, while U.S. equity futures advanced as traders saw positive signs in corporate earnings reports.
The Stoxx 600 Index turned higher, paced by gains in drugmakers and banks following upbeat results from Sanofi, AstraZeneca Plc and Barclays Plc. Deutsche Bank AG dropped after trading revenue disappointed.
Contracts for the S&P 500 advanced after a two-day decline, while those for the tech-heavy Nasdaq 100 extended Wednesday’s rally. Earnings from Meta Platforms Inc. beat analyst estimates, pushing its shares 11% higher in after-hours trading.
The S&P BSE Sensex Index closed up 349 points or 0.58% at 60,649.30 while the NSE Nifty 50 Index was higher by 102 points or 0.57% at 17,915.05.
JSW Steel Ltd., Reliance Industries Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., and IndusInd Bank Ltd. were positively adding to the change.
Whereas, Tata Consultancy Services Ltd., Power Grid Corp of India Ltd., HDFC Life Insurance Co., Axis Bank Ltd., Hindustan Unilever Ltd. were negatively contributing to the change in the Nifty 50 Index.
Adani Group company stocks ended mixed in trade, with Adani Power Ltd., Ambuja Cements Ltd., NDTV Ltd., Adani Enterprises Ltd., and ACC Ltd. rising, while all the other group stocks declining in trade.
The broader market indices ended higher; S&P BSE MidCap Index was up by 0.52%, whereas S&P BSE SmallCap Index was higher by 0.62%.
Eighteen out of the 19 sectors compiled by BSE declined, while only S&P BSE Power advanced in trade.
The market breadth was skewed in the favour of the buyers. About 2,041 stocks rose 1,448 declined, and 125 remained unchanged on the BSE.
Laurus Labs Q4 FY23 (YoY, Consolidated)
Revenue down 3% at Rs 1,381 crore Vs Rs 1,425 crore (BBG estimate : Rs 1,517 crore)
Net profit down 55% to Rs 103 crore Vs Rs 231 crore (BBG estimate : Rs 211 crore Profit)
EBITDA down 28% to Rs 286 crore from Rs 397 crore (BBG estimate : Rs 373 crore Profit)
Margins at 20.7% Vs 27.8% (BBG estimate : 24.6%)
Source: Exchange filing
