Sensex, Nifty Fall Dragged By Banking Stocks; FMCG Stocks Led By HUL Limit Decline, FPIs Stayed Net Sellers
Live updates from India's stock markets on Sept. 22.
Foreign Investors Net Sellers
Overseas investors remained net sellers for the second day in a row, on Thursday.
As per data from the National Stock Exchange, foreign portfolio investors net sold equities worth Rs 2,509.55 crore today.
Domestic institutional investors, remained net buyers for the third straight day and bought equities worth Rs 263.07 crore today.
Institutions have net sold Rs 1,868.76 crore worth of equities this month so far and Rs 35,251.84 crore worth of Indian equities till date in 2022.
10-Year Bond Yield Rises
Yield on the 10-year bond rose 9bps to 7.33% during the session. The 10-year bond yield closed at 7.31%.
This is the most the 10-year bond rose in six weeks.
Rupee Falls Most Since Russia Began Invasion Of Ukraine To Record Low
Rupee fell 89 paise to fresh low of 80.87, during the session. The currency closed around the same level.
This is the most Rupee fell against U.S. Dollar since Russia began its invasion of Ukraine of February 23, which spooked global equity and currency markets.
India's stock benchmarks declined amid slide in global equities after U.S. Federal hiked interest rate by 75bps for the third successive time. Banking, energy stocks decline while consumer durables, FMCG and auto stocks gained.
The Sensex shed over 330 points (0.57%) to 59,119.72. The Nifty fell 0.5% to 17,629.80. Today 22 of Nifty 50 stocks rose while 28 fell. Titan, Hindustan Unilever, Asian Paints, Eicher Motors, Maruti Suzuki were the top gainers. Power Grid, Axis Bank, HDFC Bank, HDFC, ONGC were the top losers.
The broader indices outperformed their larger peers with MidCap gauge gaining 0.5% and SmallCap measure adding 0.6%. Ten of the 19 sectoral indices compiled by BSE adanced with FMCG index jumping 1.3%. On the flipside, Bankex fell 1.4%.
The market breadth is skewed in the favour of bulls.About 1,816 stocks rose, 1,627 fell and 146 remained unchanged.
Rupee Falls 83 Paise To Record Low
Rupee depreciates 83 paise to fresh low of 80.81, during the session.