Stock Market Today: Sensex, Nifty Snap Three-Day Losses; FPIs Remain Net Sellers
The S&P BSE Sensex was 845 points or 1.41% at 60,747.31 while the NSE Nifty 50 was 242 points or 1.35% higher at 18,101.20.
FPIs Remain Net Sellers
Overseas investors were net sellers of Indian equities for the 12th day in a row on Monday.
Foreign portfolio investors net sold Indian equities worth Rs 203.79 crore, according to National Stock Exchange data.
On the other hand, domestic institutional investors continued buying for the 2nd straight day with the purchase of Rs 1,723.79 crore worth of Indian stocks, after breaking a 21-day buying streak on Thursday.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 8,016.57 crore of Indian stocks so far in 2023.
Yield On The 10-Year Bond Declines
The yield on the 10-year bond closed lower at 7.34% on Monday. It closed at 7.37% on Friday.
Source: Bloomberg
Rupee Gains Against The Greenback
The local currency closed 37 paise higher at 82.36 on Monday. It closed at 82.73 on Friday.
Source: Bloomberg
Closing Bell
Following the strong global cues and the move in Asian stocks, the Indian benchmark indices snapped its three-day losing run and closed more than 1% higher in trade on Monday.
The S&P BSE Sensex was 845 points or 1.41% at 60,747.31 while the NSE Nifty 50 was 242 points or 1.35% higher at 18,101.20.
Mahindra and Mahindra Ltd., TCS Ltd., HCL Technologies Ltd., IndusInd Bank Ltd. and Tech Mahindra Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Titan Co., Bajaj Finserv Ltd., Grasim Industries Ltd., Bajaj Auto Ltd. and HDFC Life Insurance Co. were the top losers in the gauge.
The broader market indices underperformed their larger peer; S&P BSE MidCap was up 0.93%, whereas S&P BSE SmallCap was higher at 0.50%.
Eighteen out of the 19 sectoral indices compiled by the BSE advanced, while S&P BSE Consumer Durables declined.
The market breadth was skewed in favour of the bulls. About 2,047 rose, 1,582 declined, 170 remained unchanged on the BSE.
GHCL To Raise Soda Ash Capacity To 12 Lakhs Ton Per Annum
GHCL Ltd. receives regulatory approval to raise Soda Ash capacity to 12 lakhs from 11 lakh ton per annum.
Source: Exchange filing