Share Market Today: Sensex, Nifty Extend Gains To Third Straight Week; FPIs Stay Net Buyers
India's stock benchmarks sustained gains for three weeks in a row aided by weekly gains in metals, PSU banks and media stocks.
KEY HIGHLIGHTS
Foreign Investors Net Buyers
Overseas investors remained net buyers for the seventh day in a row on Friday.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 1,436.25 crore.
Similarly, Domestic institutional investors remained net sellers and sold equities worth Rs 548.59 crore.
Institutions have net bought Rs 2,771.15 crore worth of equities so far in November and net sold Rs 28,925.76 crore worth of Indian equities till date in 2022.
10-Year Bond Yield Ends Lower
Yield on the 10-year bond fell 3bps to 7.46% during the session. The 10-year bond yield erased losses to slip 1bps and close at 7.47%.
On Thursday, it closed at 7.48%.
Source: Bloomberg
Indian Rupee Ends Higher Against U.S. Dollar
The Indian rupee ended sharply higher against the U.S. dollar on Friday, rebounding from near-83 levels.
The rupee advanced 0.55% to close at 82.43 on Friday.
Source: Bloomberg
Closing Bell
India's stock benchmarks sustained gains for three weeks in a row aided by weekly gains in metals, PSU banks and media stocks.
Sensex ended 0.19% up at 60, 950.36, while the Nifty 50 closed 0.36% higher at 18,117.15. Twenty eight of the Nifty 50 stocks advance while 22 declined.
The indices traversed through volatility during the later part of the week amid Federal Reserve's 75 basis point rate hike, that triggered recessionary fears.
Adani Enterprises, Hindalco Industries, Bajaj Finserv, JSW Steel, and Adani Ports were the top gainers on Nifty 50 on Friday. Meanwhile, Hero MotoCorp, Dr. Reddy's Laboratories, Cipla, Hindustan Unilever and Divi's Laboratories were the top laggards.
The broader indices outperformed their larger peers with SmallCap gaining 0.41%, while LargeCap almost mirrored their large peers gaining 0.35%, and MidCap underperformed by declining 0.10%.
Fourteen of the 20 sectoral measures complied by BSE advanced with BSE Metal and Commodities gaining over 2%.
The market breadth is skewed in the favour of bulls. About 2,036 stocks rose, 1,410 fell and 139 remained unchanged.
Fusion MicroFinance IPO Fully Subscribed On Final Day
– Fusion MicroFinance IPO fully subscribed as of 3 p.m. on day 3.
– Bidding was led by institutional buyers (5.21 times).
– The offer closes November 4.
Source: BSE