Stock Market Today: Nifty, Sensex End Higher Led By HDFC Bank, Powergrid But Kotak Bank Weighs
The Nifty 50 ended at 22,657.15, up by 52.30 points or 0.23% and the Sensex gained 128.33 points or 0.17% at 74,611.11.
KEY HIGHLIGHTS
FPIs Turned Net Sellers
Overseas investors turned net sellers on Thursday after two days of buying.
Foreign portfolio investors sold stocks worth Rs 964.47 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors stayed net buyers for the eighth day and mopped up equities worth Rs 1,352.44 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 4,073 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Rupee Closes Weaker Against U.S. Dollar
The local currency closed 3 paise weaker against the U.S. Dollar at 83.47.
It closed at 83.44 on Tuesday.
Source: Bloomberg
Nifty, Sensex End Higher Led By HDFC Bank, Powergrid But Kotak Bank Weighs: Closing Bell
Benchmark equity indices ended the first session of the week on a positive note with led by gains in HDFC Bank and Powergrid but the upside was limited due to losses in the shares of ICICI Bank and Kotak Mahindra Bank.
The Nifty 50 ended at 22,657.15, up by 52.30 points or 0.23% and the Sensex gained 128.33 points or 0.17% at 74,611.11.
Nifty has been at a consolidation mode and some weakness can be seen in the next one or two sessions, said Nagaraj Shetti, technical and derivative analyst at HDFC Securities Ltd.
He added that 22,800-22,850 will act as the resistance level and 22,300-22,250 will be a support level.
Shares of HDFC Bank Ltd., Power Grid Corp. Of India Ltd., Asian Paints Ltd., Tata Consultancy Services Ltd., and Tata Motors Ltd. contributed the most to the gains.
Meanwhile, those of ICICI Bank Ltd., Kotak Mahindra Bank Ltd., Bharti Airtel Ltd., Axis Bank Ltd., and Infosys Ltd put pressure on the index.
Most sectoral indices ended higher with Nifty Metal, Nifty Auto, and Nifty Energy leading.
Broader markets ended higher on BSE. The S&P BSE Midcap ended 0.91% higher, and the S&P BSE Smallcap settled 0.29% higher.
On BSE, 15 sectors out of 20 advanced, and five declined. The S&P BSE Utilities was the top gainer, and the S&P BSE Bankex declined the most.
Market breadth was evenly split between buyers and sellers. Around 1,913 stocks rose, 1,924 stocks declined, and 120 stocks remained unchanged on BSE.
"The broader market largely traded range bound, while positive commentary from the auto companies on recent volume numbers led the sector to outperform," said Vinod Nair, head of research at Geojit Financial Services.
Adani Enterprises Re-Appoints MD, ED
Approves re-appointment of Rajesh Adani as MD for 5 more years effective June 10, 2025
Approves re-appointment of Pranav Adani as ED for 5 more years effective April 1, 2025
Source: Exchange filing
Blue Star Q4 FY24 (Consolidated, YoY)
Revenue at Rs 3327.77 crore vs Rs 2623.83 crore, up 26.82%
Ebitda at Rs 241.9 crore vs Rs 179.16 crore, up 35.01%
Margin at 7.26% vs 6.82%, up 44 bps
Net profit at Rs 169.7 crore vs Rs 225.3 crore, down 24.67%
