Stock Market Today: Sensex, Nifty Fall For The Second Day; FPIs Turn Net Sellers
Sensex closed down 223 points or 0.35% at 62,625.63 while Nifty was 71 points or 0.38% lower at 18,563.40.
KEY HIGHLIGHTS
10-Year Bond Yield Rises In The Week Ended June 9
Rupee Strengthens Against The U.S. Dollar
Sensex, Nifty Fall For The Second Day After Testing Record Highs
Maan Aluminium Board Approves A 1:1 Stock Split And Bonus Issue.
Hazoor Multi Projects Gets Approval For Rs 119 Crore Nagpur-Mumbai Expressway Construction
10-Year Bond Yield Rises In The Week Ended June 9
-Yield on the 10-year bond rose 6 bps this week to close at 7.04% on Friday.
-It rose from 7.02% on Thursday.
Source: Bloomberg
FPIs Turn Net Sellers
Overseas investors in Indian equities turned net sellers after three days of consecutive buying on Friday.
Foreign portfolio investors sold stocks worth Rs 308.97 crore, according to data from the National Stock Exchange.
Domestic institutional investors were net buyers and mopped by stocks worth Rs 1,245.51 crore, the NSE data showed.
Rupee Strengthens Against The U.S. Dollar
The local currency strengthens about 10 paise to close at 82.47 against the U.S dollar on Friday.
The local currency closed at 82.57 on Thursday.
Source: Bloomberg
Sensex, Nifty Fall For The Second Day After Testing Record Highs
India's benchmark stock indices declined for the second day after swinging between gains and losses through Friday. While PSU banks, fast moving consumer goods and I.T. sectors declined, realty and private banking shares were buoyant. Infosys Ltd., HUL Ltd., and SBI dragged, Axis Bank Ltd., L&T Ltd. led the positive change on the indices. Also, the headline indices advanced for the third week on Friday.
European stocks and U.S. futures slid following a strong rally in Asia. Chemical shares led losses in Europe after a downbeat earnings statement from Croda International Plc. The Turkish lira weakened President Recep Tayyip Erdogan nominated a new central bank governor.
In Asia, stocks headed for a second weekly gain, with Japan’s Nikkei 225 set to complete a nine-week advance that would be its longest winning streak in more than five years. The index jumped nearly 2% on Friday and South Korean equities climbed to levels last seen a year ago.
The S&P BSE Sensex Index closed down 223 points or 0.35% at 62,625.63 while the NSE Nifty 50 Index was 71 points or 0.38% lower at 18,563.40.
Infosys Ltd., Hindustan Unilever Ltd., State Bank of India, Reliance Industries Ltd., and ITC Ltd. were the negatively adding to the change in the Nifty 50 Index.
Axis Bank Ltd., L&T Ltd., HDFC Bank Ltd., ICICI Bank Ltd., and IndusInd Bank Ltd. were positively adding to the change.
The broader market indices outperformed its larger peers; the S&P BSE MidCap Index was up 0.03%, whereas S&P BSE SmallCap Index was higher by 0.02%.
Fifteen out of the 19 sectors compiled by BSE declined, while four sectors advanced with S&P BSE Capital Goods gaining the most.
The market breadth was split between the buyers and the sellers. About 1,744 stocks rose 1,788 declined, and 116 remained unchanged on the BSE.
The headline indices logged slim gains this week. Sensex logged weekly gains of 0.13%, whereas Nifty advanced 0.16%.
Last week, the indices ended marginally higher. The S&P BSE Sensex Index was up 0.07%, and the NSE Nifty 50 Index was higher by 0.19%.
Sectorally, Nifty Auto Index, Nifty Realty Index and Nifty Metal Index led the pack this week, while Nifty IT Index and Nifty PSU Bank Index were the worst performers of the week.
Maan Aluminium Board Approves A 1:1 Stock Split And Bonus Issue.
Shares with face value of Rs 10 each will be splt into two shares of Rs 5 each, raising the authorised share capital to Rs 30 crore from Rs 15 crore.
Shareholders will receive one share for each share held with 1:1 bonus, increaing company's issued capital to Rs 27.04 crore.
Source: Exchange filing
