Stock Market Today: Sensex, Nifty Close At Record Highs As RIL, HDFC Bank Lead; FPIs Net Buy Rs 12,350 Crore
Sensex closed up 500 points or 0.79% at 63,915.42 while Nifty was 155 points or 0.82% higher at 18,972.10.
KEY HIGHLIGHTS
FPIs Net Buy Rs 12,350 Crore
Overseas investors remained net buyers of Indian equities on Wednesday.
Foreign portfolio investors mopped up stocks worth Rs 12,350 crore, according to data from the National Stock Exchange. This is the highest value of buying since March 2.
Domestic institutional investors remained net sellers for the second straight day and offloaded equities worth Rs 1,021.01 crore, the NSE data showed.
Foreign institutions have net bought Rs 32,344 crore worth of equities in June. They have been net buyers of Rs 61,603 crore worth of Indian equities so far in 2023, according to the National Securities Depository Ltd.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.06% on Wednesday. It closed at 7.06% on Tuesday as well.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 3 paise to close at 82.06 against the U.S dollar on Wednesday.
The local currency closed at 82.03 on Tuesday.
Source: Bloomberg
Sensex, Nifty End At Record Close After Two Days Of Advances: Closing Bell
India's benchmark stock indices advanced for the second day to scale fresh life highs through Wednesday. While, pharma and metal sectors advanced, media stocks were under pressure. RIL Ltd., HDFC Bank Ltd., Infosys Ltd. led the positive change on the indices, while HDFC Life Insurance Co. and Kotak Mahindra Bank Ltd. dragged.
Sensex scaled a fresh record high of 64,050.44 points after rising 1% in trade, whereas Nifty jumped 1.03% to hit 19,011.25, intraday.
European stocks opened firmer, while U.S. equity futures were pressured by report of new curbs on artificial intelligence chip sales to China.
The Stoxx Europe 600 Index gained as much as 0.5% as shares bounced from a six-day losing streak that ended on Tuesday. UBS Group AG advanced as the company prepared to cut more than half of Credit Suisse Group AG’s workforce.
Japan and Australia rallied, while Chinese equities fluctuated amid a report that the Biden administration was considering new curbs on exports of artificial intelligence chips to China.
The S&P BSE Sensex Index closed up 500 points or 0.79% at 63,915.42 while the NSE Nifty 50 Index was 155 points or 0.82% higher at 18,972.10.
Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., Larsen & Toubro Ltd. and ITC Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, HDFC Life Insurance Co., Tech Mahindra Ltd., Mahindra & Mahindra Ltd., Kotak Mahindra Bank Ltd., and Bajaj Finserv Ltd. were negatively adding to the change.
The broader market indices ended higher; the S&P BSE MidCap Index was up 0.73%, whereas S&P BSE SmallCap Index was 0.08% higher.
All the 19 sectors compiled by BSE advanced with S&P BSE Power and S&P Capital Goods gaining the most.
The market breadth was split between the buyers and sellers. About 1,783 stocks rose, 1,706 declined, while 139 remained unchanged on the BSE.
