Sensex, Nifty Reverse Course In Last Hour On August Contracts Expiry Day; FPIs Stay Net Buyers

India's stock benchmarks declined after a volatile final hour of trade on the expiry day of August series derivatives contracts

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Foreign Investors Net Buyers

Overseas investors turned net buyers for the third straight day on Thursday.

FPIs snapped out of the longest stretch of net inflows of 13 days last Thursday on August 18.

As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 369.06 crore today.

While, domestic institutional investors net sold equities worth Rs 334.31 crore today.

Institutions have net bought Rs 11,462.14 crore worth of equities so far in August and net sold equities worth Rs 36,977.55 as yet in 2022.


10-Year Bond Yield Rises

Yield on the 10-year bond rose 3bps to 7.32% during the session, before closing at 7.30%.

Source: Bloomberg

Rupee Falls Against U.S. Dollar

  • The Indian currency depreciated 8 paise to 79.90 during the session, just 16 paise off the record low of 80.06.

  • The Rupee closed at 79.88 and was the worst performer among Asian currencies, dragged by rise in crude prices.

Source: Bloomberg


Closing Bell

India's stock benchmarks declined after a volatile final hour of trade on the expiry day of August series derivatives contracts. The Sensex and Nifty reversed course, dragged by information technology, banking stocks ahead of the crucial Jackson Hole annual economic symposium of the U.S. Federal Reserve which begins today.

The Sensex lost over 300 points to 58,774.72. The 30-stock gauge added nearly 400 points to an intraday high of 59,484.35 before falling 700 points in the final hour. The Nifty 50 also declined 0.5% to 17,522.45. Today 18 of the Nifty 50 stocks rose, while 32 fell. Adani Ports & SEZ, Bajaj Finance, Infosys, TCS and Cipla were the top laggards.

The broader indices outperformed their larger peers, with both MidCap and SmallCap measures gaining 0.2%. Sixteen of the 19 sectoral indices compiled by BSE declined with Information Technology and Teck indices falling 1%.

The market breadth was skewed in the favour of bulls. About 1,912 stocks rose, 1,509 fell and 133 remained unchanged.

Government Approves Export Policy For Wheat Or Meslin Flour

  • Cabinet Committee on Economic affairs gave its nod to the proposal to amend policy of exemption for wheat or meslin flour from export restrictions.

  • Move to allow government to put a restriction on export of wheat flour, and tackle rising prices of wheat flour.

Source: PIB