Stock Market Today: Sensex, Nifty Close Flat; Adani Enterprises, Adani Ports Top Nifty 50 Laggards
S&P BSE Sensex closed at 57,613.72, while the Nifty 50 ended the day at 165,951.70.
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FPIs Snap Three-Day Selling Spree To Turn Net Buyers
Overseas investors in Indian equities turned net buyers on Tuesday, after a three-day selling spree.
Foreign portfolio investors mopped up stocks worth Rs 1,531.13 crore during the day, according to data from the National Stock Exchange.
Domestic institutional investors turned net sellers, snapping 13-days buying streak, and sold equities worth Rs 156.11 crore.
Foreign institutions invested in Indian equities have remained net sellers so far in 2023, offloading equities worth around Rs 52,160.88 crore.
Indian stock benchmarks closed flat as gains in banking and metal stocks were offset by higher losses in realty, telecom and utilities stocks.
S&P BSE Sensex closed at 57,613.72, while the Nifty 50 ended about 100 points lower from day's high at 16,951.70.
Of the 50 Nifty 50 constituents, 17 advanced and 32 declined, while one remained unchanged. UPL Ltd., IndusInd Bank Ltd., Dr Reddy's Laboratories Ltd., Power Grid Corp. Of India, HDFC Bank Ltd. were the top gainers, while Adani Enterprises Ltd., Adani Ports SEZ, Tech Mahindra Ltd., Hero MotoCorp Ltd., and Tata Motors Ltd. were the top losers.
All Adani group stocks ended the day with losses.
The broader indices underperformed the benchmarks. S&P BSE MidCap fell 0.42% while S&P BSE SmallCap declined 0.79%.
Meanwhile, Nifty MidCap index declined for the fourth consecutive session. Nifty Realty index ended lower for seven trading sessions in a row.
Nifty Metals was down for the third straight session, while Nifty Bank index ended higher for a second consecutive session.
The market breadth was skewed in the favour of the bears. About 2,499 stocks declined, 1,046 advanced and 99 remained unchanged.