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Sensex, Nifty Advance For Second Day Aided By RIL, ITC, L&T, Metal Stocks; FPIs Stay Net Sellers

Here are the live updates of India's equity markets

<div class="paragraphs"><p>Stock movement. (Source:&nbsp;<strong><a href="https://pxhere.com/en/photo/911746">PxHere</a>)</strong></p></div>
Stock movement. (Source: PxHere)
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Closing Bell

India's stock benchmarks rose, aided by gains in metal, banking, realty stocks and extended gains for the second day in a row.

The Sensex added 443 points (0.75%) to 59,245.98. The 30-stock gauge rose over 500 points during the session. The Nifty 50 also gained 0.7% to 17,665.80. Today 36 of Nifty 50 stocks rose while 14 fell. Hindalco, JSW Steel, NTPC, ITC, Sun Pharma, RIL, L&T were among the top gainers.

The MidCap index underperformed its larger peers, rising 0.5% while SmallCap gauge slightly outperformed Sensex and Nifty, adding 0.9%. Barring Oil & Gas, Power, all the other 17 sectoral indices compiled by BSE Ltd. advanced with Metal index rising 2%.

The market breadth is skewed in the favour of bulls. About 2220 stocks rose, 1345 fell and 171 remained unchanged.

Foreign Investors Net Sellers

Overseas investors remained net sellers for the third straight day on Monday.

The longest buying stretch by FPIs, this year so far, lasted 13 days from July 28 to August 17.

As per data from the National Stock Exchange, foreign portfolio investors net sold equities worth Rs 811.75 crore today.

Domestic institutional investors, on the other hand, turned net buyers and bought equities worth Rs 533.77 crore today.

Institutions net sold Rs 2,294.69 crore worth of equities this month so far and Rs 35,777.77 crore till date in 2022.

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10-Year Bond Yield Falls

Yield on the 10-year bond fell 3bps to 7.20% during the session. The 10-year bond yield closed at 7.22%.

Source: Bloomberg


Rupee Trims Losses

  • Rupee depreciated 11 paise to 79.91 during the session. The Indian currency trimmed some of the losses and closed at 79.85 against the U.S. dollar

Source: Bloomberg

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Sembcorp Industries Sells India Energy Business

Singapore’s Sembcorp Industries to sell India unit Sembcorp Energy for around 2.1 billion Singaporean dollars (Rs 11,700 crore).

  • Sembcorp India is one of the largest independent power producers in the country, operating two supercritical coal-fired plants totalling 2.6GW.

  • The sale has been made to Tanweer Infrastructure, which is indirectly owned by a consortium led by Oman Investment Corporation.

Source: Singapore Exchange filing


Mastercard Replaces Paytm, Acquires Title Sponsorship Rights For All BCCI International & Domestic Games

  • Mastercard to be the title sponsor for all international matches held on home ground, domestic cricket matches like Irani Trophy, Duleep Trophy and Ranji Trophy and also all junior cricket (U-19 and U-23) matches held in India for the 2022-23 season.

  • Earlier, Paytm had won the rights for Rs 326.8 crore to be paid for the 2019-23 home season.

Source: BCCI statement

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