Stock Market Today: Sensex, Nifty End Mixed As ICICI Bank, ITC Lead; HDFC Twins Drag; FPIs Remain Net Buyers

• KPI Green Energy will execute solar power projects of 7.70 MW capacity from seven entities

• Company and its unit Sun Drops Energia will execute the project under 'Captive Power Producer' segment

Source: Exchange filing

• The bid project cost for the construction of Varanasi-Ranchi-Kolkata highway stands at Rs 1,248.37 crore.

• Project allocated on hybrid annuity model has a completion period of nearly two years.

Source: Exchange filing

The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 0.62%, whereas S&P BSE SmallCap Index was 0.68% higher.

Fourteen out of the 19 sectors compiled by BSE advanced with S&P BSE Fast Moving Consumer Goods gaining the most. Five sectors, on the other hand, declined.

The market breadth was skewed in the favour of the buyers. About 2,006 stocks rose, 1,337 declined, while 142 remained unchanged on the BSE.

• HDFC bank has acquired 84.44 lakh shares of Hindustan Oil Exploration, thus buying a 6.39% stake in the company.

Source: Exchange filing

Shares of LIC Housing Finance rose 4.28% intraday before paring gains to trade 1.76% higher as of 10:23 p.m. This compares to a 0.06% dip in the NSE Nifty 50.

Gains come as LIC Housing Finance is replacing HDFC in Nifty Financial Services Index from July 13, as per the Index Maintenance Sub-Committee latest announcement.

Among several other rearrangements, HDFC will be replaced by LTIMindtree in the Nifty 50 Index, and Jindal Steel & Power in the Nifty 100. HDFC will be delisted from stock exchanges from July 13.

• Services PMI eased to 58.5 in June from 61.2 in May.

Source: S&P Global

• Crude Steel production grew 7.8% YoY to 4.667 million tonnes.

• Highest-ever sales performance with sales volume at 3.9 million tonnes.

• Hot metal and saleable steel output grew 7% and 8% YoY.

Source: Company website

The broader market indices outperformed larger peers; the S&P BSE MidCap Index was down 0.38%, whereas S&P BSE SmallCap Index was 0.48% higher.

Eighteen out of the 20 sectors compiled by BSE advanced with S&P BSE Industrials gaining the most. S&P BSE Consumer Durables and S&P BSE Realty sectors declined.

The market breadth was skewed in the favour of the buyers. About 1,863 stocks rose, 752 declined, while 121 remained unchanged on the BSE.

Source: BSE

• Paytm says average monthly transacting users grew 0.22% from the last quarter to 9.2 crore.

• Loan distribution business clocked disbursements of Rs 14,845 crore, registering a QoQ growth of 18.25% in Q1.

Source: Exchange filing

• At pre-open, the S&P BSE Sensex Index closed up 13 points or 0.02% at 65,492.21 while the NSE Nifty 50 Index was 17 points or 0.09% higher at 19,405.95.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.11% on Wednesday.

Source: Bloomberg

• The local currency weakened about 4 paise to open at 82.06 against the U.S dollar on Wednesday.

• The local currency closed at 82.02 on Tuesday.

Source: Bloomberg

• Yes Bank's net advances increased 7.5% YoY to Rs 2 lakh crore

• Bank’s CASA deposits declined 3.6% quarter-on-quarter and rose annually by 8.4%

• Total deposits increased 0.9% QoQ and 13.5% YoY to Rs 2.19 lakh crore

Source: Exchange filing

• Merged entity’s gross advances, removing HDFC Ltd’s wholesale book, up 15.3% YoY to Rs 21.36 lakh crore .

• Total deposits at Rs 20.63 lakh crore, up 16.2% YoY.

• Merged entity’s average liquidity coverage ratio at 120%.

Source: Exchange notice

• Indian Oil revised LPG prices of Indane in Delhi by Rs 7 from July 4, 2023.

• The prices were raised from Rs 1,773 per 19 kg cylinder as of June 1, 2023.

Source: Indian Oil website

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