Stock Market Today: Sensex, Nifty End With Steady Gains As I.T., Banks, Autos Rise; FPIs Remain Net Sellers
Live updates on India's equity markets on Jan. 23.
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FPIs Remain Net Sellers
Overseas investors in Indian equities remained net sellers for the second-straight day on Monday.
Foreign portfolio investors offloaded equities worth Rs 219.87 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors, mopped up stocks worth Rs 434.96, for the second 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 20,099.98 crore of Indian stocks so far in 2023.
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 26 paise to 81.39 at close on Monday. It closed at 81.13 on Friday.
Yield On The 10-Year Largely Flat
The yield on the 10-year bond closed largely flat at 7.35% on Monday.
The Indian benchmark indices gained steadily and advanced in trade through on Monday.
The dollar weakened against most currencies after a slew of Federal Reserve officials laid out the case for a downshift in the U.S. central bank’s rate-tightening campaign, contrasting with the hawkish European policymakers. Many major Asia markets were closed for Lunar New Year celebrations.
The S&P BSE Sensex closed up 319 points or 0.53% at 60,941.67 while the NSE Nifty 50 was 90 points or 0.5% higher at 18,118.55.
Sun Pharmaceutical Industries Ltd., Hindustan Unilever Ltd., Tech Mahindra Ltd., Eicher Motors Ltd. and UPL Ltd. were the top gainers in the gauge.
Whereas, UltraTech Cement Ltd., Grasim Industries Ltd., NTPC Ltd., Tata Steel Ltd. and JSW Steel Ltd. and were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices were mixed; S&P BSE MidCap was up 0.44%, whereas S&P BSE SmallCap was lower by 0.30%.
Twelve out of the 20 sectors compiled by BSE advanced, while eight declined in trade.
The market breadth was skewed in favour of the bears. About 1,666 rose, 1,976 declined, 189 remained unchanged on the BSE.
Jindal Stainless Appoints New ED, Group CFO
Jindal Stainless Ltd. appoints Anurag Mantri as the new executive director and group chief financial officer.
Source: Exchange filing