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Share Market Today: Sensex, Nifty Decline; FPIs Stay Net Buyers

Sensex closed 0.25% lower at 61,033.55, while the Nifty 50 ended 0.44 % lower at 18,122.05.

<div class="paragraphs"><p>Stock movement. (Photo by <a href="https://unsplash.com/@bash__profile?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Nicholas Cappello</a> on <a href="https://unsplash.com/s/photos/stock?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)</p></div>
Stock movement. (Photo by Nicholas Cappello on Unsplash)
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Foreign Investors Net Buyers

Overseas investors remained net buyers for the ninth day in a row on Wednesday.

As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 386.83 crore.

Similarly, Domestic institutional investors remained net sellers and sold equities worth Rs 1,060.12 crore.

Institutions have net bought Rs 3,202.17 crore worth of equities so far in November and net sold Rs 28,494.74 crore worth of Indian equities till date in 2022.

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10-Year Bond Yield Falls

Yield on the 10-year bond fell 5bps to close at 7.39%.

Source: Bloomberg


Indian Rupee Gains Nearly 50 Paise For Third Straight Day Against The U.S. Dollar

The local currency opened at 81.39, appreciating 0.64%, or 52 paise, from its close of 81.91 on Monday. During the day, it strengthened 0.85% or 69.6 paise to 81.21.

The rupee appreciated 0.59% to close at 81.42 on Wednesday. It hit its highest since September.

The rupee had hit a record low of 83.29 on Oct. 20.

Source: Bloomberg

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Closing Bell

India's stock benchmarks closed lower on Wednesday led by declines in realty, consumer durables and metal stocks.

Sensex closed 0.25% lower at 61,033.55, while the Nifty 50 ended 0.44 % lower at 18,122.05.

Adani Ports SEZ, Coal India, ITC, Dr Reddy's Laboratories, Adani Enterprises were the top NIfty 50 gainers. Meanwhile, Hindalco Industries, Power Grid Corp of India, Divi's Laboratories, Grasim Industries and Sun Pharmaceutical Industries were the top laggards.

The broader indices underperformed their larger peers with MidCap and SmallCap losing 0.54% and 0.22%. While LargeCap almost mirrored its larger peers and declined 0.24%.

Fifteen of the 19 the sectoral measures complied of BSE declined with BSE consumer durables, metals and realty losing over 1%.

The market breadth is skewed in the favour of bears. About 1,740 stocks rose, 1,774 fell and 120 remained unchanged.


National Aluminium Company Slips Post Q2

Shares of National Aluminium Company fell 1.84% after company reported 83% decline in net profit.

Total traded quantity stood at 1.8 times the 30-day average. Of the 10 analysts tracking the company, seven maintain a 'buy', one suggests 'hold' and two recommend a 'sell'. The return potential of the stock is 21.2%.

National Aluminium Company (Consolidated, YoY)

  • Net Profit down by 83 % at Rs 125.43 crore Vs. net profit of Rs 747.80

  • Revenue from operations down by 2.8% at Rs 3489.57 crore Vs. 3592.18

  • EBITDA down by 65% at Rs 403.63 crore Vs. Rs 1169 crore

Source: Bloomberg, Exchange filings

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