Stock Market Today: Sensex, Nifty Close Higher As RIL, ITC Lead; Pharma Stocks Rise; FPIs Remain Net Sellers
The S&P BSE Sensex closed up 173 points, or 0.26%, at 66,118.69 while the NSE Nifty 50 was 52 points or 0.26% lower at 19,716.45.
KEY HIGHLIGHTS
Rupee Ends Flat Against The U.S. Dollar
Sensex, Nifty Resume Advance After One-Day Fall As RIL, ITC Lead: Market Wrap
Adani Group Stocks Add Over Rs 10,000 Crore In Investor Wealth
Bombay Dyeing GDRs To Be Delisted From Luxembourg Exchange
Samvardhana Motherson International Has 21.4 Lakh Shares Change Hands
FPIs Remain Net Sellers
Overseas investors remained net sellers of Indian equities for the seventh consecutive day on Wednesday.
Foreign portfolio investors sold Indian equities worth Rs 354.35 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers and mopped up stocks worth Rs 386.28 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 1,22,709 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Higher
The yield on the 10-year bond closed 3 bps higher at 7.17% on Wednesday.
Source: Bloomberg
Rupee Ends Flat Against The U.S. Dollar
The local currency closed flat at 83.23 against the U.S dollar on Wednesday.
It closed at 83.24 on Tuesday.
Source: Bloomberg
Sensex, Nifty Resume Advance After One-Day Fall As RIL, ITC Lead: Market Wrap
India's benchmark stock indices advanced after trading lower in the first half of the day on Wednesday.
Pharmaceutical sector rose, whereas banks and non-banking financial companies were under pressure.
The S&P BSE Sensex closed up 173 points, or 0.26%, at 66,118.69 while the NSE Nifty 50 was 52 points or 0.26% lower at 19,716.45.
European markets advanced for the first time in five days. The Stoxx 600 ticked higher, led by technology and energy companies. U.S. equity futures added about 0.5%.
Most Asian markets rose with Hong Kong's Hang Seng Index rising over 0.8%. Japanese, Chinese and South Korean shares also advanced, while Australian markets declined.
Reliance Industries Ltd., Larsen & Toubro Ltd., ITC Ltd., Axis Bank Ltd., and Infosys Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Bank Ltd., ICICI Bank Ltd., Titan Co., State Bank of India, and Grasim Industries Ltd.. were negatively contributing to the change.
The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 0.76%, whereas S&P BSE SmallCap Index was also 0.68% higher.
Seventeen out of 20 sectors compiled by BSE advanced, while three sectors declined. S&P BSE Healthcare and S&P BSE Capital Goods rose the most.
The market breadth was split between the buyers and the sellers. About 2,007 stocks rose, 1,641 declined, while 151 remained unchanged on the BSE.
Adani Group Stocks Add Over Rs 10,000 Crore In Investor Wealth
Shares of most Adani Group companies rose with Adani Ports and Special Economic Zone Ltd., and Adani Energy Solutions Ltd. leading the gains.
Adani Enterprises Ltd., Adani Green Energy Ltd., and ACC Ltd. rose over half a per cent and NDTV Ltd., Ambuja Cements Ltd., Adani Wilmar Ltd. were little changed.
The Gautam Adani-owned group added Rs 10,000 crore to its market capitalisation during intraday trade on Wednesday, taking the total market value of its 10 listed companies to Rs 11.02 lakh crore, up from Rs 10.91 lakh crore on Tuesday, according to Cogencis data.
Adani Total Gas Ltd., and Adani Power Ltd. fell nearly 1%.
