Stock Market Today: Sensex, Nifty Snap Four-Day Run As Kotak, Axis Bank, Sun Pharma Drag; FPIs Stay Net Buyers
Sensex closed down 294 points or 0.47% at 62,848,64 while Nifty was 92 points or 0.49% lower at 18,634.55.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Rises
The yield on the 10-year closed 4 basis points higher at 7.02% on Thursday.
It closed at 6.98% on Wednesday.
Source: Bloomberg
FPIs Stay Net Buyers
Overseas investors in Indian equities remained net buyers for the third day in a row on Thursday.
Foreign portfolio investors mopped up stocks worth Rs 212.4 crore, according to data from the National Stock Exchange. This is the least amount of net buying in the month so far.
Domestic institutional investors turned net sellers and offloaded equities worth Rs 405.01 crore, the NSE data showed.
Rupee Weakens Against The U.S. Dollar
The local currency depreciated 2 paise to close at 82.57 against the U.S dollar on Thursday.
The local currency closed at 82.55 on Wednesday.
Source: Bloomberg
Broader Markets Close Lower
The broader market indices declined; the S&P BSE MidCap Index was down 0.87%, whereas S&P BSE SmallCap Index was lower by 0.47%.
Fourteen out of the 20 sectors compiled by BSE declined, while five sectors advanced with S&P BSE Power gaining the most.
The market breadth was skewed in the favour of the sellers. About 1,494 stocks rose 2,055 declined, and 119 remained unchanged on the BSE.
Top Movers On The Nifty 50 Index
Reliance Industries Ltd., L&T Ltd., HDFC Bank Ltd., HDFC Ltd., and NTPC Ltd. were positively adding to the change in the Nifty 50 Index.
Whereas, Kotak Mahindra Bank Ltd., Axis Bank Ltd., Sun Pharmaceutical Industries Ltd., TCS Ltd., and Hindustan Unilever Ltd. were negatively contributing to the change.
