Stock Market Today: Sensex, Nifty Climb Higher As FMCG, Realty Stocks Lead Advance; FPIs Turned Net Buyers
Live updates on India's equity markets on Jan. 17.
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FPIs Turned Net Buyers
Overseas investors in Indian equities turned net buyers on Tuesday.
Foreign portfolio investors mopped up equities worth Rs 211.06 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net buyers for the eight day in a row and bought stocks worth Rs 90.81 crore, after snapping out of a 21-day buying streak on Jan. 5.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 17,958.61 crore of Indian stocks so far in 2023.
Yield On The 10-Year Flat
The yield on the 10-year bond closed largely flat at 7.33% on Tuesday.
Rupee Weakens Against The U.S. Dollar
The local currency closed on a weak note, depreciating 15 paise to 81.77, on Tuesday. It closed at 81.62 at close on Monday.
The Indian benchmark indices continued trading higher through Tuesday after opening with steady gains.
Asian stocks ended mixed in trade, whereas the European equities and US stock-index futures fell as investors focused on earnings reports from Wall Street banks.
The S&P BSE Sensex was up 563 points or 0.94% at 60,655.72 while the NSE Nifty 50 was 159 points or 0.89% higher at 18,053.30.
Larsen and Toubro Ltd., Hindustan Unilever Ltd., HDFC Ltd., HCL Technologies Ltd. and HDFC Bank Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, State Bank of India, Bajaj Finserv Ltd., IndusInd Bank Ltd., Wipro Ltd., Tata Steel Ltd. and Bajaj Finance Ltd. were the top losers in the gauge.
The broader market indices underperformed their larger peers; S&P BSE MidCap was down 0.06%, whereas S&P BSE SmallCap was lower at 0.13%.
Seventeen out of the 20 sectoral indices compiled by the BSE advanced, while S&P BSE Healthcare, S&P BSE Consumer Durables and S&P BSE Services declined.
The market breadth was skewed in favour of the bears. About 1,714 rose, 1,787 declined, 143 remained unchanged on the BSE.
Macrotech Developers Rises In Trade
Shares of Macrotech Developers Ltd. rose 5.42% in trade on Tuesday. It gained as much as 5.8% intraday, the most in over four months since Aug. 30.
Total traded volume stood at 2.1 times its 30-day average.
Out of the 16 analysts tracking the company, 12 maintain a 'buy' rating, three recommend a 'hold' and one suggests to 'sell' the stock.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 17.4% over the next 12 months.
Source: Bloomberg, Exchange filing