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Stock Market Today: Sensex, Nifty End Lower As Metal, I.T. Drag; Adani Ports Up; FPIs Remain Net Seller

The S&P BSE Sensex closed down 335 points or 0.55% at 60,506.90 while the NSE Nifty 50 was 90 points or 0.50% lower at 17,764.60.

<div class="paragraphs"><p>Stock market trend,&nbsp;financial graph.on a computer screen,  (Source: freepik)</p></div>
Stock market trend, financial graph.on a computer screen, (Source: freepik)
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FPIs Remain Net Seller

Overseas investors in Indian equities remained net sellers for the third day in a row on Monday.

Foreign portfolio investors offloaded equities worth Rs 1,218.14 crore, according to data from the National Stock Exchange.

On the other hand, domestic institutional investors mopped up stocks worth Rs 1,203.09 crore for the 11th day in a row.

Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December, but have remained net sellers of Rs 44,895.41 crore worth of Indian stocks so far in 2023.

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Rupee Weakens Sharply Against The U.S. Dollar

The local currency weakened sharply by 1.10% or 90 paise to 82.74 against the greenback on Monday. It closed at 81.84 on Friday.

Source: Bloomberg


Yield On The 10-Year Rises

The yield on the 10-year bond closed 4 bps higher at 7.32% on Monday. It closed at 7.28% on Friday.

Source: Bloomberg

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Sensex, Nifty End Lower In Trade

The Indian benchmark indices ended Monday on a weak note as I.T. and metal stocks dragged through the day.

Shares in Asian markets declined, whereas the European stocks and the U.S. equity futures retreated as an unexpectedly strong US jobs report raised the prospect of more rate hikes from the Federal Reserve. Concern over US-China geopolitical tensions also weighed on sentiment.

Adani group company stocks, on the other hand, were mixed as the stocks under additional surveillance measure were up, while the rest declined.

The U.S. stocks halted a three-day advance on Friday in a volatile session that saw equities swerve between modest gains and losses as investors contended with data pointing to a robust labor market.

The S&P BSE Sensex closed down 335 points or 0.55% at 60,506.90 while the NSE Nifty 50 was 90 points or 0.50% lower at 17,764.60.

Adani Ports And SEZ Ltd., IndusInd Bank Ltd., BPCL Ltd., Apollo Hospital Enterprise Ltd., and Hero MotoCorp Ltd. were the top gainers in the gauge.

Whereas, Divi's Laboratories Ltd., JSW Steel Ltd., Hindalco Industries Ltd., Tata Steel Ltd. and Infosys Ltd. and were the top losers amongst the NSE Nifty 50 constituents.

The broader market indices outperformed the larger peers; S&P BSE MidCap was up 0.75%, whereas S&P BSE SmallCap was higher by 0.49%.

Ten out of the 20 sectors compiled by BSE declined, while the other ten advanced in trade.

The market breadth was skewed in favour of the bulls. About 1,822 rose, 1,696 declined and 225 remained unchanged on the BSE.


Ashok Leyland And Reliance Industries Unveil Heavy-Duty Truck With Hydrogen Combustion Engine

  • Reliance Industries along with Ashok Leyland unveiled India’s first heavy-duty truck with hydrogen combustion engine technology in Chennai.

  • The vehicle was flagged off by Prime Minister Narendra Modi today in Bangalore at the India Energy Week.

Source: Exchange filing

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