Stock Market Today: Sensex, Nifty End Mixed As PSU Banks, Realty Stocks Drag
Sensex closed down 3 points or 0.00% at 61,761.33 while Nifty was higher by 2 points or 0.01% at 18,265.95.
KEY HIGHLIGHTS
FPIs Continue Buying For The Ninth Day
Overseas investors in Indian equities remained net buyers for the ninth day in a row on Monday.
Foreign portfolio investors mopped up equities worth Rs 2,123.8 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned buyers after a day and bought stocks worth Rs 245.3 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 37,194.3 crore worth of stocks so far in 2023.
Yield On 10-Year Bond Declines
The yield on 10-year bond declined 1 basis point to close at 7.04% on Tuesday. It had closed at 7.05% on Monday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened about 25 paise to close at 82.05 against the greenback on Tuesday.
The local currency closed at 81.80 on Monday.
Source: Bloomberg
Sensex, Nifty Decline Amid Volatility
Indian equity benchmarks were little changed at closing after it held on to steady gains after turning volatile on Tuesday. While, as PSU banks and realty sectors declined, I.T., auto and pharma shares advanced in trade.
Before turning volatile on Tuesday the indices traded near a five-month high, intraday. The S&P BSE Sensex Index traded above 62,000-level, whereas Nifty scaled 18,300-mark for the first time in over five months since mid December.
European stocks and U.S. equity futures edged lower as investors assessed the impact of slowing imports by China on its economic recovery and prepared for a key US inflation report.
Real estate shares led the decline in Europe, with Swedish landlord SBB falling to the lowest in nearly five years. Futures contracts on the S&P 500 and the Nasdaq 100 retreated by about 0.2%. A gauge of Asian equities fell slightly. Saudi Aramco shares rallied as much as 7.2% in Riyadh after the oil giant reported soaring free cashflow and announced an additional dividend.
The S&P BSE Sensex Index closed down 3 points or 0.00% at 61,761.33 while the NSE Nifty 50 Index was higher by 2 points or 0.01% at 18,265.95.
TCS Ltd., Axis Bank Ltd., Reliance Industries Ltd., HDFC Ltd., and Infosys Ltd. were positively adding to the change.
Whereas, ITC Ltd., State Bank of India Ltd., Bajaj Finance Ltd., ICIC Bank Ltd., and UPL Ltd. were negatively contributing to the change in the Nifty 50 Index.
The broader market indices ended mixed; S&P BSE MidCap Index was up by 0.03%, whereas S&P BSE SmallCap Index was lower by 0.35%.
Eleven out of the 19 sectors compiled by BSE declined, while eight sectors advanced in trade.
The market breadth was split between the buyers and the sellers. About 1,621 stocks rose 1,875 declined, and 144 remained unchanged on the BSE.
Raymond Q4 (YoY, Consolidated)
Revenue up 10% at Rs 2,150.18 crore versus Rs 1,958.10 crore (Bloomberg estimate: Rs 2,058.9 crore)
Ebitda up 18% at Rs 336.79 crore versus Rs 284.4 crore (Bloomberg estimate: Rs 298.7 crore)
Ebitda margin at 15.7% vs 14.5% (Bloomberg estimate: 14.5%)
Net profit down 26% at Rs 194.35 crore versus Rs 263.31 crore (Bloomberg estimate: Rs 129.9 crore)
The company has declared a dividend of Rs 3/share for FY23.
Source: Exchange filing
