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Stock Market Today: Sensex, Nifty Snap Five-Day Losing Streak

The S&P BSE Sensex was up 79 points or 0.14% at 57,634.84 while the NSE Nifty 50 was 14 points or 0.08% higher at 16,985.60.

A man stands in front of an electronic ticker board showing stock information figures outside the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
A man stands in front of an electronic ticker board showing stock information figures outside the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
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FPI Outflow Continues For Sixth Day In A Row

Foreign investors in Indian equities remained net sellers for the sixth straight day on Thursday.

Foreign portfolio investors offloaded equities worth Rs 282.06 crore during the day, according to data from the National Stock Exchange.

Meanwhile, domestic institutional investors remained net buyers for the fifth straight day and picked up stocks worth Rs 2,051.45 crore.

Foreign institutions invested in Indian equities have remained net sellers so far in 2023, pulling out Rs 22,818 crore by March 16, 2023, according to the National Securities Depository Ltd.

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Rupee Weakens Against The U.S. Dollar

The local currency weakened by 14 paise to close 82.74 against the greenback on Thursday. It closed at 82.60 on Wednesday.

Source: Bloomberg


Sensex, Nifty Snap Five-Day Losing Streak

Indian equity benchmarks swung between gains and losses in a choppy trading session amid high volatility through Thursday.

The headline indices snapped five days of losses, ending marginally higher in trade.

European stocks staged a partial rebound on Thursday as banking shares rallied. Contracts for the S&P 500 pared an early advance to trade little changed after the index fell 0.7% Wednesday.

Credit Suisse provided a measure of calm for jittery investors as it arranged to borrow as much as 50 billion francs ($54 billion) from a Swiss National Bank liquidity facility and will offer to buy back up to three billion francs of dollar- and euro-denominated debt.

The S&P BSE Sensex closed up 79 points or 0.14% at 57,634.84 while the NSE Nifty 50 was 14 points or 0.08% higher at 16,985.60.

Hindustan Unilever Ltd., HDFC Bank Ltd., Asian Paints Ltd., State Bank of India, Axis Bank Ltd. were adding positively to the index.

Whereas, Infosys Ltd., Bharti Airtel Ltd., Hindalco Industries Ltd., Tata Steel Ltd., IndusInd Bank Ltd., and Reliance Industries Ltd. were negatively contributing to the index NSE Nifty 50.

The broader market indices traded lower; S&P BSE MidCap was down 0.05% whereas S&P BSE SmallCap was lower by 0.69%.

Seven out of the 19 sectors compiled by BSE declined, while 12 advanced in trade.

The market breadth was skewed in the favour of the sellers. About 1,395 stocks rose 2,129 declined, and 116 remained unchanged on the BSE.

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Credit Suisse Pares Gains After 40% Jump

Credit Suisse provided a measure of calm for jittery investors as it arranged to borrow as much as 50 billion francs ($54 billion) from a Swiss National Bank liquidity facility and will offer to buy back up to three billion francs of dollar- and euro-denominated debt.

Source: Bloomberg


Sonata Software Completes Acquisition Of Quant Systems

  • Sonata Software completes acquisition of Quant Systems, a Texas based I.T. services corporation.

  • The acquisition was in accordance with a stock purchase agreement.

  • An upfront payment of $65 million (Rs 537.3 crore) was made with pay-outs up to a maximum of $95 million (Rs 785.3 crore) payable over 2 years.

Source: Exchange Filing

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