Stock Market Today: Sensex, Nifty End At Six-Month High Ahead Of MPC Decision; FPIs Stay Net Buyers
Sensex closed 350 points or 0.56% at 63,142.96 while the Nifty was 127 points or 0.68% higher at 18,726.40.
KEY HIGHLIGHTS
FPIs Stay Net Buyers
Overseas investors in Indian equities remained net buyers for the second day in a row on Wednesday.
Foreign portfolio investors mopped up stocks worth Rs 1,382.57 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned net buyers and offloaded equities worth Rs 392.3 crore, the NSE data showed.
10-Year Bond Yield Flat
Yield on the 10-year bond closed flat at 6.98% on Wednesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency appreciated 6 paise to close at 82.55 against the U.S dollar on Wednesday.
The local currency closed at 82.61 on Tuesday.
Source: Bloomberg
Broader Markets Outperform
The broader market indices outperformed the larger peers; the S&P BSE MidCap Index was up 1.09%, whereas S&P BSE SmallCap Index was higher by 1.15%.
All the 19 sectors compiled by BSE advanced, with S&P BSE Telecommunication, and S&P BSE Utilities gaining the most.
The market breadth was skewed in the favour of the buyers. About 2,277 stocks rose 1,155 declined, and 141 remained unchanged on the BSE.
Source: BSE
Top Movers On The Nifty 50 Index
Larsen & Toubro Ltd., Bharti Airtel Ltd., TCS Ltd., Britannia Industries Ltd., and Nestle India Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, ICICI Bank Ltd., Kotak Mahindra Bank Ltd., Bajaj Finance Ltd., ITC Ltd., and Mahindra & Mahindra Ltd. were negatively contributing to the change.
