Sensex Adds Over 500 Points, Nifty Gains Most In Over A Week Ahead Of Two-Day FOMC Meet; FPIs Stay Net Buyers
Live updates from India's stock benchmarks on Sept. 20.
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India's stock benchmarks gained most in over a week since September 8 and extended winning streak for the second day. The Sensex and Nifty 50 added nearly 1.5% this week amid caution in global equities ahead of two-day FOMC meeting that begins today.
All sectoral indices gained with Consumer Durables, Healthcare gauges jumping the most.
The Sensex rose nearly 1% to 59,719.74. The 30-stock gauge gained 965 points to an intraday high of 60,105.79. The Nifty added nearly 200 points to 17,816.25. Today 44 of Nifty 50 stocks rose while six fell.
Apollo Hospitals, Cipla, Sun Pharmaceutical, Eicher Motors, IndusInd Bank advanced the most among Nifty 50 constituents. Coal India, Infosys, Power Grid, Nestle, Grasim and Shree Cement were the six index stocks that closed lower.
The SmallCap measure almost mirrored Sensex and Nifty while MidCap gauge outperformed, adding 1.65%.
The market breadth was skewed in the favour of bulls. About 2,106 stocks rose, 1,365 stocks fell and 131 remained unchanged.
Foreign Investors Net Buyers
Overseas investors remained net buyers for the second straight day on Tuesday. The longest buying stretch by FPIs, this year so far, lasted 13 days from July 28 to August 17.
FPIs net sold the highest worth of Indian equities in 13 weeks on Friday, last week.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 1,196.19 crore today.
Domestic institutional investors, too turned net buyers after three days of net selling and bought equities worth Rs 131.94 crore today.
Institutions have net bought Rs 455.21 crore worth of equities this month so far and net sold Rs 33,027.87 crore worth of Indian equities till date in 2022.
10-Year Bond Yield Rises
Yield on the 10-year bond rose 4bps to 7.27% during the session.
The 10-year bond yield closed at 7.26%.
Rupee Little Changed Against U.S. Dollar
Indian currency appreciated 19 paise to 79.58 during the session before paring all the intraday gains to close at 79.76 against the greenback.
Future Of Finance Is Going To Be VUCA, Says Finance Minister Nirmala Sitharaman
There is a sense of urgency with which we need to plan
We'll have to ensure personal data security, national and cyber security in our planning.
Source: Session at FICCI LEADS 2022
Seeing Some Early Traction On 123Pay, Says Praveena Rai, Chief Operating Officer, NPCI
Have over 1 lakh active users who use 123Pay for LPG payments.
Possibilities including paying while sitting in a car, using smart appliances exist on 123Pay.
123Pay would take digital payments to next half billion users.
Next set of unicorns are probably going to emerge from here.
Alert: RBI Governor had launched 123Pay in March 2022
Source: Praveena Rai speaking at Global Fintech Fest