Sensex, Nifty Revert To Losses After Friday's Surge; FPIs Turn Net Buyers
Live updates from India's stock markets on Oct. 3.
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India's stock benchmarks reverted to decline mode after snapping the joint longest losing streak on Friday, dragged by broad based losses across sectors led by Commodities, FMCG, Utilities, Auto, Banking, Power stocks while Healthcare stocks bucked the trend, amid slid in global equities as markets are spooked by global central banks' commitment to hike rate to bring down inflation ahead of OPEC+ meeting due this week in which the oil producers' bloc is expected to rein in supply in its bid to arrest the slide in oil prices.
The Sensex fell 1.11% (638 points) to 56,788.81. The 30-stock gauge lost nearly 750 points to an intraday low of 56,683.40. The Nifty 50 also declined by similar magnitude to 16,878.10.
Today 41 of Nifty 50 stocks fell while nine rose. Adani Enterprises, Eicher Motors, Adani Ports & SEZ, Maruti Suzuki and Tata Consumer Products declined the most among Nifty 50 stocks.
ONGC, Dr. Reddy's, Cipla, BPCL, Coal India, Divi's Laboratories, NTPC, Bharti Airtel and Wipro were the sole gainers in the 50-stock gauge.
The MidCap index almost mirrored its larger peers while SmallCap measure outperformed, losing 0.5%. Barring Healthcare and Telecommunication, all the other 17 sectoral gauges compiled by BSE declined, with Power and Utilities measures losing over 3%.
The market breadth is skewed in the favour of bears. About 1,452 stocks rose, 2,097 fell and 155 remained unchanged.
Foreign Investors Net Buyers
Overseas investors turned net buyers after eight days of continuous net selling on Monday.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth 590.58 crore.
On the contrary, Domestic institutional investors net sold equities worth Rs 423.16 crore after nine persistent days of net buying.
Institutions net sold Rs 4,343.53 crore worth of equities in the month of September and Rs 37,659.19 crore worth of Indian equities till date in 2022.
Large Trade: Motherson Sumi Wiring
Motherson Sumi Wiring has 1 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg
Large Trade: Finolex Industries
Finolex Industries has 2.12 million shares change hands in a large trade.
Details of buyers, sellers are not known immediately.
Source: Bloomberg