Stock Market Today: Sensex, Nifty End Flat; FPIs Remain Net Sellers
The Sensex closed up 37 points higher or 0.06% at 60,978.75 while the Nifty was unchanged, 0.25 point lower at 18,118.30.
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FPIs Remain Net Sellers
Overseas investors in Indian equities remained net sellers for the third straight day on Tuesday.
Foreign portfolio investors offloaded equities worth Rs 760.51 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors mopped up stocks worth Rs 1,144.75 for the third day, according to NSE data.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 20,860.49 crore of Indian stocks so far in 2023.
Yield On The 10-Year Largely Flat
The yield on the 10-year bond closed largely flat at 7.35% on Tuesday.
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 33 paise to 81.72 at close on Tuesday. It closed at 81.39 on Monday.
The Indian benchmark indices ended largely flat on Tuesday. European equities wavered in the wake of tech-stock fueled gains on the Wall Street and bets for less-aggressive interest rate hikes from the Federal Reserve.
Japanese equities ended on positive note, other major Asian markets were closed for lunar new year celebrations.
The S&P BSE Sensex closed up 37 points higher or 0.06% at 60,978.75 while the NSE Nifty 50 was unchanged, 0.25 point lower at 18,118.30.
Tata Motors Ltd., Maruti Suzuki India Ltd., Bajaj Auto Ltd., HCL Technologies Ltd. and HDFC Bank Ltd. were the top gainers in the gauge.
Whereas, Axis Bank Ltd., Hindalco Industries Ltd., Dr. Reddy's Laboratories Ltd., Power Grid Corp of India Ltd. and SBI Life Inusrance Co. were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices were marginally lower; S&P BSE MidCap was down 0.30%, whereas S&P BSE SmallCap was lower by 0.43%.
Thirteen out of the 19 sectors compiled by BSE declined, while six advanced in trade.
The market breadth was skewed in favour of the bears. About 1,528 rose, 1,978 declined, 144 remained unchanged on the BSE.
SBI Card Q3 Earnings (QoQ)
Revenue from operations up 6.37% at Rs 3,507.12 crore
Profit after tax down 3% to Rs 509.46 crore
Ebitda up 8.9% to Rs 1,040.61 core
Ebitda margin at 29.67% vs 28.98%
Source: Exchange filing