Stock Market Today: Sensex, Nifty End With Marginal Losses Amid Volatility; FPIs Remain Net Sellers
The S&P BSE Sensex was down 10 points or 0.02% at 60,105.50 while the NSE Nifty 50 was 19 points or 0.1% lower at 17,895.70.
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FPIs Remain Net Sellers
Overseas investors in Indian equities were net sellers for the 14th day in a row on Wednesday.
Foreign portfolio investors offloaded stocks worth Rs 3,208.15 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net buyers for the fourth straight day and mopped up stocks worth Rs 2,430.62 crore, after snapping out of a 21-day buying streak on Thursday.
Foreign institutions net bought Rs 14,398.8 crore worth of Indian equities in December 2022, but have remained net sellers of Rs 13,334.06 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 7.29% on Wednesday. It closed at 7.31% on Tuesday.
Rupee Strengthens Against The U.S. Dollar
The local currency closed 21 paise higher at 81.58 on Wednesday. It closed at 81.79 on Tuesday.
The Indian benchmark indices traded largely flat through Wednesday and ended marginally lower in trade.
European markets had a sluggish start and were trading largely flat as well in trade on Wednesday.
The S&P BSE Sensex closed down by 10 points or 0.02% at 60,105.50 while the NSE Nifty 50 was 19 points or 0.1% lower at 17,895.70.
Hindalco Industries Ltd., Sun Pharmaceutical Industries Ltd., Ultratech Cement Ltd., BPCL Ltd. and HDFC Bank Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Bharti Airtel Ltd., Cipla Ltd., Divi's Laboratories Ltd., Apollo Hospitals Enterprise Ltd. and Coal India Ltd. were the top losers in the gauge.
The broader market indices were mixed; S&P BSE MidCap was down 0.27%, whereas S&P BSE SmallCap was higher at 0.02%.
Twelve out of the 19 sectoral indices compiled by the BSE declined, while seven advanced.
The market breadth was skewed in favour of the bulls. About 1,866 rose, 1,627 declined, 148 remained unchanged on the BSE.
FMCG Stocks Decline
Shares of fast moving consumer goods companies declined in trade on Wednesday. The NSE Nifty FMCG Index was 1.06% down.
Eleven out of the 15 constituents compiled by NSE Nifty FMCG Index declined while only four advanced.
Varun Beverages Ltd., Marico Ltd., Hindustan Unilever Ltd., Nestle India Ltd., Godrej Consumer Product Ltd. and Tata Consumer Products Ltd. declined more than 1% in trade.