Stock Market Today: Sensex, Nifty Advance For The Fifth Day To End At A New Record Close; FPIs Stay Net Buyers
Sensex closed up 274 points or 0.42% at 65,479.05 while Nifty was 67 points or 0.34% higher at 19,389.
KEY HIGHLIGHTS
FPIs Stay Net Buyers For Fifth Day
Overseas investors in Indian equities remained net buyers for the fifth day in a row on Tuesday.
Foreign portfolio investors mopped up stocks worth Rs 2,134.33 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net sellers and offloaded equities worth Rs 785.48 crore, the NSE data showed.
Foreign institutions have net bought Rs 14,306 crore worth of equities in July. They have been net buyers of Rs 90,713 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 7.12% on Tuesday. It closed at 7.12% on Monday as well.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened 6 paise to close at 82.02 against the U.S dollar on Tuesday.
The local currency closed at 81.96 on Monday.
Source: Bloomberg
Sensex, Nifty Scale Fresh Records For Fifth Day As Bajaj Twins Lead: Market Wrap
India's benchmark stock indices were largely steady and ended at a fresh closing highs on Tuesday. Intraday, Sensex jumped 0.72% to a record high of 65,672.97 points. Nifty 50, on the other hand, rose 0.58% to 19,434.15 points.
While, PSU banks, media and non-banking financial companies advanced, energy and auto sectors were under pressure. Bajaj twins, Infosys Ltd., and TCS Ltd. led the positive change on the indices, whereas RIL Ltd., and Axis Bank Ltd. dragged.
Global rally paused as investors turned their attention to risks for the economy and the prospects of further restrictive central bank policy moves. Japan’s Topix fell, while Hong Kong’s Hang Seng Index rose and shares in South Korea fluctuated.
The Australian dollar declined after the central bank kept interest rates unchanged while the yield on the nation’s policy-sensitive three-year bond reversed an earlier gain. Australian equities rose.
With no cash trading in US equities Tuesday due to the Independence Day holiday, futures contracts on the S&P 500 and the Nasdaq 100 were little changed.
The S&P BSE Sensex Index closed up 274 points or 0.42% at 65,479.05 while the NSE Nifty 50 Index was 67 points or 0.34% higher at 19,389.
Bajaj Finance Ltd., Bajaj Finserv Ltd., TCS Ltd., Infosys Ltd., and Kotak Mahindra Bank Ltd. were the positively adding to the change in the Nifty 50 Index.
Whereas, Reliance Industries Ltd., Bahrti Airtel Ltd., Axis Bank Ltd., Eicher Motors Ltd., and IndusInd Bank Ltd., and were negatively adding to the change.
The broader market indices ended mixed; the S&P BSE MidCap Index was down 0.22%, whereas S&P BSE SmallCap Index was 0.05% higher.
Ten out of the 19 sectors compiled by BSE declined with S&P BSE Telecommunication falling the most. Nine sectors advanced.
The market breadth was skewed in the favour of the sellers. About 1,636 stocks rose, 1,861 declined, while 126 remained unchanged on the BSE.
Hero MotoCorp Shares Hit 52-Week High On Harley-Davidson X440 Launch
Shares of Hero MotoCorp Ltd. rose 4.49% to Rs 3,029 apiece as per 2:48 p.m., as day compared to 0.30% advance in the benchmark, NSE Nifty 50 Index.
The scrip hit a 52-week high at Rs 3,032.25 apiece on Tuesday as the pre-booking for Harley-Davidson X440 begins in India, an affordable variant of the brand, priced around Rs 2.29 lakh.
