Stock Market Today: Sensex, Nifty Snap Two-Day Gaining Streak; FPIs Turn Net Buyers
The S&P BSE Sensex was down 187 points or 0.31% at 60,858.43 while the NSE Nifty 50 was 58 points or 0.32% lower at 18,107.85.
KEY HIGHLIGHTS
FPIs Turn Net Buyers
Overseas Investors in Indian equities turned net buyers after a day on Thursday.
Foreign portfolio investors bought equities worth Rs 399.98 crore, according to data from the National Stock Exchange.
On the other hand, domestic institutional investors turned net sellers breaking nine days streak and sold stocks worth Rs 128.96 crore, 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 17,877.86 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 7.31% on Thursday. It ended at 7.32% on Wednesday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
The local currency weakened by 11 paise to 81.36 at close on Thursday. It closed at 81.25 on Wednesday.
Source: Bloomberg
Closiing Bell
The Indian benchmark indices snapped their two-day rally to close lower in trade on Thursday. Indices were trading lower amid through the day as Sensex declined below 61,000 level.
Asian shares ended mixed, whereas European stocks were trading lower on Thursday as investors weighed the risks of economic slowdown and the outlook for interest rates.
Contracts for the S&P 500 also slid, following a 1.6% drop in the index on Wednesday, as per the Bloomberg data.
The S&P BSE Sensex was down 187 points or 0.31% at 60,858.43 while the NSE Nifty 50 was 58 points or 0.32% lower at 18,107.85.
Coal India Ltd., UPL Ltd., ONGC Ltd., BPCL Ltd., and Tata Steel Ltd. and were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Adani Enterprises Ltd., Asian Paints Ltd., Tata Motors Ltd., IndusInd Bank Ltd. and Kotak Mahindra Bank Ltd. were the top losers in the gauge.
The broader market indices were trading lower; S&P BSE MidCap was down 0.06%, whereas S&P BSE SmallCap was lower at 0.24%.
Twelve out of the 19 sectors compiled by BSE declined, while seven advanced in trade.
The market breadth was skewed in favour of the bears. About 1,591 rose, 1,914 declined, 121 remained unchanged on the BSE.
Happiest Minds Technologies Q3 Earnings
Revenue up 3% QoQ at Rs 366.88 crore
Net profit up 3.1% QoQ at Rs 57.58 crore
Source: Exchange filing
