Stock Market Today: Sensex, Nifty Snap Four-Day Gains As RIL, HDFC Twins, Axis Bank Drag
Sensex closed down 347 points or 0.55% at 62,622.24 while Nifty was lower 100 points or 0.53% at 18,534.40.
KEY HIGHLIGHTS
FPIs Stay Net Buyers For The Eight Straight Day
Overseas investors in Indian equities remained net buyers for the eighth day in a row on Wednesday.
Foreign portfolio investors mopped up equities worth Rs 3,405.9 crore, according to data from the National Stock Exchange.
Domestic institutional investors were net sellers for two days in a row and offloaded Rs 2,528.5 crore worth of equities.
Yield On The 10-Year Declines
The yield on the 10-year bond closed 2 bps lower at 6.99% on Tuesday.
It closed at 7.01% on Tuesday.
Source: Bloomberg
Indian rupee closes flat against the U.S. dollar
The local currency closed flat at Rs 82.73 against the U.S. dollar on Wednesday.
Source: Bloomberg
Sensex, Nifty Fall The Most In Two Weeks: Closing Bell
Indian equity benchmarks declined through Wednesday amid weak global trade as banks and financials declined with HDFC twins, Axis Bank and SBI dragging the most. The headline indices snapped four days of gain and fell the most in two weeks
European and Asian stocks fell along with U.S. equity futures. The Stoxx Europe 600 index headed for its lowest close since March, with China-exposed luxury-goods makers LVMH and Richemont among the biggest laggards.
Swedish landlord SBB plunged as much as 11% to an all-time low after its CEO said his holding company had deferred interest payments on a loan. Hong Kong’s Hang Seng Index fell more than 2%, with a bear market on the horizon. The offshore yuan hit its weakest level versus the dollar in six months.
The S&P BSE Sensex Index closed down 347 points or 0.55% at 62,622.24 while the NSE Nifty 50 Index was lower 100 points or 0.53% at 18,534.40.
Reliance Industries Ltd., HDFC Bank Ltd., HDFC Ltd., Axis Bank Ltd., and State Bank of India were negatively adding to the change in the Nifty 50 Index.
Whereas, Bharti Airtel Ltd., Kotak Mahindra Bank Ltd., ICICI Bank Ltd., Asian Paints Ltd. and Sun Pharmaceutical Industries Ltd. were positively contributing to the change.
The broader markets ended higher; the S&P BSE MidCap Index was up 0.54%, whereas S&P BSE SmallCap Index was higher by 0.68%.
Eleven out of the 19 sectors compiled by BSE declined, while eight sectors advanced in trade with the S&P BSE Telecommunication Index gaining the most.
The market breadth was split between the buyers and the sellers. About 1,725 stocks rose 1,784 declined, and 136 remained unchanged on the BSE.
