Stock Market Today: Sensex, Nifty Gain As Fourth Quarter Earnings Season Picks Up Steam
Sensex closed up 401 points or 0.67% at 60,056.10 while Nifty was higher by 119 points or 0.68% at 17,743.40.
KEY HIGHLIGHTS
FPIs Stay Net Sellers For The Sixth Straight Day
Overseas investors in Indian equities remained net sellers for the sixth day in a row on Monday.
Foreign portfolio investors offloaded equities worth Rs 412.27crore, according to data from the National Stock Exchange.
Domestic institutional investors were buyers for the third straight day and mopped up stocks worth Rs 1,177.18 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 50,653.23 crore worth of stocks so far in 2023.
Yield On The 10-Year Declines
The yield on the 10-year bond closed 6 bps lower at 7.10% on Monday. It closed at 7.16% on Friday.
Source: Bloomberg
Indian Rupee Strengthens Against The U.S. Dollar.
The local currency appreciated 19 paise to close at 81.91 against the greenback on Monday.
It closed at 82.10 on Friday.
Source: Bloomberg
Sensex, Nifty Rise For The Third Consecutive Session
Indian equity benchmarks rose after midday to end near day's high after holding on to gains in early trade on Monday. Banks advanced after a largely positive set of earnings on Monday and over the weekend. NBFCs, realty sectors also gained over 1% in trade. Pharma and media shares, on the other hand offset the gains from other sectors by ending lower.
Asian markets traded mixed, whereas the European stocks wavered and U.S. equity futures slipped as traders weighed the latest corporate earnings reports.
The Stoxx Europe 600 fluctuated in early trading, with energy companies leading declines as crude prices added to last week’s slump. Royal Philips NV jumped more than 12% in trade.
Contracts for the S&P 500 and the Nasdaq 100 extended losses following a muted end to trading last week. MSCI Inc.’s Asia Pacific Index was on course for the lowest close since the end of March.
The S&P BSE Sensex Index closed up 401 points or 0.67% at 60,056.10 while the NSE Nifty 50 Index was higher by 119 points or 0.68% at 17,743.40.
JSW Steel Ltd., HDFC Bank Ltd., Axis Bank Ltd., Reliance Industries Ltd., State Bank of India were positively adding to the change.
Whereas, Dr Reddy's Laboratories Ltd., Bharti Airtel Ltd., Sun Pharmaceutical Industries Ltd., Maruti Suzuki India Ltd., IndusInd Bank Ltd. were negatively contributing to the change in the Nifty 50 Index.
Adani Group company stocks ended mixed in trade. ACC Ltd., Adani Power Ltd., Ambuja Cements Ltd., and Adani Ports and SEZ Ltd. advanced whereas the other stocks declined.
The broader market indices ended higher; S&P BSE MidCap Index was up by 0.47%, whereas S&P BSE SmallCap Index was higher by 0.34%.
Four out of the 19 sectors compiled by BSE declined, while 15 sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,813 stocks rose 1,586 declined, and 186 remained unchanged on the BSE.
Markets Trade Near Day's High
Sensex Trades Above 60,000-Level Since Last Monday
Nifty Gains The Most In Nearly Two Weeks
Banks, NBFCs, Real Estate Gain The Most
Pharmacetical, Media Stocks Decline
JSW Steel, HDFC Bank, Axis Bank Lead The Positive Change On Nifty 50
IndusInd Bank, Maruti Suzuki, Sun pharmaceutical Industries Contribute To Negative Change On Nifty 50
Source: Bloomberg, Exchanges
Sensex, Nifty At Day's High
Airtel Partners With Secure Meters To Deploy 1.3 Million Smart Meters In Bihar
Bharti Airtel partnered with Secure Meters to deploy Narrow Band (NB-IoT) services that will power 1.3 million homes in Bihar through a smart meter solution.
This will be India’s first NB-IoT service with a fall-back option of 2G and 4G to ensure continuous connectivity.
Source: Exchange filing
IndusInd Bank Q4 FY23 (Consolidated)
Net profit: Rs 2,043.36 crore vs Rs 1,400.52 crore (YoY)
NII: Rs 4,669.46 crore vs Rs 3,985.16 crore (YoY)
GNPA: 1.98% vs 2.06% (QoQ)
NNPA: 0.59% vs 0.62% (QoQ)
IndusInd Bank board approves dividend of Rs 14 per equity share worth Rs 10 each.
The dividend is subject to shareholder approval.
Source: Exchange filing
Maharashtra Seamless Gains The Most In Five Weeks
Shares of Maharashtra Seamless Ltd. rose 4.75% to Rs 424.15 apiece, as of 12:10 p.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.52%.
The company received an order from ONGC Ltd, with basic value of approx. Rs 262 crore for the supply of seamless tubing pipes and accessories.
The stock gained as much as 4.99% intraday, the most in over five weeks since March 15, 2023. Total traded volume stood at 3.6 times its 30-day average. The relative strength index was at 78, implying that the stock maybe overbought.
Out of the two analysts tracking the company, one maintains a 'buy' rating and one recommends a 'hold' on the stock, as per the Bloomberg data.
Source: Bloomberg, Exchange filing
Sensex, Nifty Trade Near Day's High
Bank Of Maharashtra Q4 FY23
Net Interest Income up 35% at Rs 2,187.22 crore vs Rs 1,612.09 crore (YoY)
Net profit up 136% at Rs 840.511 crore vs Rs 355.78 crore (YoY)
Gross NPA at 2.47% vs 2.94% (QoQ)
Net NPA at 0.25% vs 0.47% (QoQ)
Source: Exchange filing
Vedanta Resources Reduces Its Gross Debt From $7.8 Billion To $6.8 Billion
Vedanta Resources, the parent company of Vedanta, paid all its maturing loans and bonds due in April 2023 of up to $6.8 billion, down from $9.7bn at the end of March 2022.
The resultant reduction in its gross debt was $1 billion. As per the filing, the company achieved 75% of its committed reduction of $4 billion in 14 months.
Source: SGX Filing
Sensex, Nifty Hold Slim Gains As JSW Steel, Axis Bank, ICICI Bank, SBI Lead: Midday Market Update
Indian equity benchmarks held on to marginal gains through midday on Monday after falling in the trade last Friday. While media and pharmaceutical stocks declined, banking and real estate shares offset losses.
U.S. equity futures declined with most stocks in Asia as traders trimmed risk levels before a slew of economic data this week that may help illuminate the path forward for interest rates.
Contracts for the S&P 500 and the Nasdaq 100 extended losses following a muted end to trading last week, while Euro Stoxx 50 futures pointed to a slight decline. MSCI Inc.’s Asia Pacific Index was on course for the lowest close since end March, while equity benchmarks in Hong Kong, South Korea and Australia all dropped.
As of 12:39 p.m., the S&P BSE Sensex Index was up 109 points or 0.18% at 59,763.79 while the NSE Nifty 50 Index was higher by 31 points or 0.17% at 17,654.65.
JSW Steel Ltd., Reliance Industries Ltd., IndusInd Bank Ltd., State Bank of India, HDFC Bank Ltd. were the top losers in the NSE Nifty 50 gauge.
Mahindra & Mahindra Ltd., Bharti Airtel Ltd., Sun Pharmaceutical Industries Ltd., Larsen & Toubro Ltd., Hindustan Unilever Ltd., Maruti Suzuki India Ltd. were negatively contributing to the change in the Nifty 50 Index.
Reliance Industries Q4 Results Review: Outlook Remains Robust Across Verticals, Say Brokerages
Most Adani Group company stocks declined in trade on Monday except, Adani Ports and SEZ Ltd., Ambuja Cements Ltd. and NDTV Ltd.
The broader market indices ended mixed; S&P BSE MidCap Index was up by 0.27%, whereas S&P BSE SmallCap Index was higher by 0.40%.
Seven out of the 20 sectors compiled by BSE declined, while thirteen sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,813 stocks rose 1,586 declined, and 186 remained unchanged on the BSE.
Tamilnad Mercantile Bank Q4 FY23
Net Interest Income up 8% at Rs 527.28 crore vs Rs 487.72 crore (YoY)
Net Profit up 11.5% at Rs 253.05 crore vs Rs 226.95 crore (YoY)
Gross NPA at 1.39% vs 1.70% (QoQ)
Net NPA at 0.62% vs 0.75% (QoQ)
Source: Exchange filing
Aditya Birla's Real Estate Arm Acquires Land In Malabar Hills In Mumbai
Birla Estates Pvt. Ltd., the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Ltd., acquired prime land parcel in South Mumbai’s upmarket residential area of Walkeshwar at Malabar Hill.
The luxury project will hold a revenue potential of over Rs 600 crore.
Source: Exchange filing
Sun Pharma Falls As It Enters Consent Decree With U.S. FDA Over Mohali Facility
India’s largest drugmaker Sun Pharmaceutical Industries Ltd. slumps the most in over 19 weeks, after the company says it has entered into a consent decree with the U.S. drug regulator for its Mohali unit.
U.S. FDA had earlier classified the inspection as Official Action Indicated and allowed the company to take certain corrective actions at the Mohali facility before releasing further final product batches into the US.
Shares of Sun Pharmaceutical Industries Ltd. fell 2.35% to Rs 966.15 apiece, as of 10:41 a.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.07%
The stock fell as much as 3.05% intraday, the most in over 19 weeks since Dec. 8, 2022. Total traded volume stood at four times its 30-day average. The relative strength index was at 40.
Out of the 52 analysts tracking the company, 50 maintain a 'buy' rating and two recommend a 'hold' on the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 24.9%.
Source: Bloomberg, Exchange filing
Wipro Surges The Most In Over 15 Weeks As Board Mulls Buyback
Shares of Wipro Ltd. rose 0.88% to Rs 371.3 apiece, as of 10:20 a.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.04%.
The company's board of directors will consider the proposal at its meeting on April 26–27. The decision regarding the buyback of equity shares will be communicated on April 27.
The stock rose as much as 2.70% intraday, the most in over 15 weeks since Jan. 9, 2023. Total traded volume stood at 3.7 times its 30-day average. The relative strength index was at 50.8.
Out of the 46 analysts tracking the company, 12 maintain a 'buy' rating, 18 recommend a 'hold' and 16 suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 7.9%.
Source: Bloomberg, Exchange filing
HDFC Life Insurance Shares Gain As HDFC-HDFC Bank's Merged Entity To Own 50% In The Insurance Provider
Shares of HDFC Life Insurance Co. rose the most in over a year as the company is set to benefit from the HDFC-HDFC Bank merger, said Emkay Global Financial Services in its note.
The brokerage upgraded the stock to a "buy," with a target price of Rs 650 apiece. As per Emkay's note, "RBI's decision to allow the merged HDFC-HDFC Bank to own over 50% stake in insurance entities, which is HDFC Life and HDFC Ergo, comes as a double booster shot in HDFC Life's arm.
Shares of HDFC Life Insurance Co. rose 5.83% to Rs 543.2 apiece, as of 9:55 a.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.12%
The stock rose as much as 8.23% intraday, the most in over a year since April 4, 2022. Total traded volume stood at 11.3 times its 30-day average. The relative strength index was at 65.
Out of the 31 analysts tracking the company, 24 maintain a 'buy' rating, four recommend a 'hold' and three suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 14.9%.
Source: Bloomberg, Brokerage Note
Reliance Industries Q4 Results Review: Outlook Remains Robust Across Verticals, Say Brokerages
ICICI Bank Gains The Most In Three Weeks As Net Profit Rises In Q4
Shares of ICICI Bank Ltd. rose 1.77% to Rs 901.3 apiece, as of 9:37 a.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.10%
The stock rose as much as 1.77% intraday, the most in over three weeks since March 31, 2023. Total traded volume stood at 3.7 times its 30-day average. The relative strength index was at 63.2.
Out of the 52 analysts tracking the company, 50 maintain a 'buy' rating and two recommend a 'hold,' as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 24.9%.
ICI Bank Q4 FY23
Net Profit: Rs 9,121 crore vs Rs 7,019 crore (YoY)
NII: Rs 17,667 crore vs Rs 12,605 crore (YoY)
GNPA: 2.81% vs 3.07% (QoQ)
NNPA: 0.48% vs 0.55% (QoQ)
The bank will raise Rs 25,000 crore through private placement of non-convertible debentures.
Source: Bloomberg, Exchange filing
Reliance Shares Rise As Profit Beats Estimates On Higher Margin
Shares of Reliance Industries Ltd. rose 0.98% to Rs 2,372.1 apiece, as of 9:29 a.m., in trade on Monday compared to the advance in the benchmark, NSE Nifty 50 Index by 0.27%
The stock rose as much as 1.36% intraday, the most in a week since April 17, 2023. Total traded volume stood at 1.7 times its 30-day average. The relative strength index was at 57.
Out of the 37 analysts tracking the company, 32 maintain a 'buy' rating, three recommend a 'hold' and two suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 18.5%.
Source: Bloomberg, Exchange filing
Reliance Industries Ltd.'s fourth-quarter profit rose on higher operating margins beating analyst estimates on the back of strong performance of its consumer-facing businesses.
The Mukesh Ambani-led conglomerate’s consolidated net profit for the period rose 19.8% sequentially to Rs 21,327 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 16,442-crore consensus estimate of analysts tracked by Bloomberg.
Reliance Industries Q4 FY23 (Consolidated, QoQ)
Revenue fell 1.91% to Rs 2,16,376 crore (Bloomberg estimate: Rs 2,25,204 crore)
Ebitda rose 9% to Rs 38,440 (Bloomberg estimate: Rs 36,915.3 crore)
Ebitda margin at 17.76% vs 15.9% (Bloomberg estimate: 16.4%)
Net profit rose 19.8% to Rs 21,327 crore (Bloomberg estimate: Rs 16,442.32 crore)
“With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits,” Mukesh Ambani, chairman and managing director of Reliance Industries, said in the statement.
Reliance Jio Q4 FY23 (Consolidated, QoQ)
Revenue up 1.72% at Rs 23,394 crore
Ebitda up 1.67% at Rs 12,210 crore
Ebitda margin at 52.19% vs 52.21%
Net profit up 1.68% at Rs 4,716 crore
The retail arm of the companny registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall, Mukesh Ambani said. He added that the company will "continue to expand product base across consumption baskets, ensuring customers get world-class products at affordable prices.”
Oil-to-chemicals posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows, Ambani added.
Reliance Retail Q4 FY23 (Consolidated, YoY)
Revenue up 19.4% to Rs 69,267 crore
Ebitda up 32.6% to Rs 4,914 crore
Ebitda margin at 7.9% versus 7.1%
Net profit up 12.9% to Rs 2,415 crore
Adani Group Stocks Decline
Most Adani Group company stocks declined in trade on Monday except, Adani Ports and SEZ Ltd., Ambuja Cements Ltd. and NDTV Ltd.
Broader Markets Trade Higher
The broader market indices ended mixed; S&P BSE MidCap Index was up by 0.09%, whereas S&P BSE SmallCap Index was higher by 0.25%.
Ten out of the 19 sectors compiled by BSE declined, while nine sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,559 stocks rose 926 declined, and 119 remained unchanged on the BSE.
Source: BSE
Top Movers On The Nifty 50 Index
Maruti Suzuki India Ltd., Sun Pharmaceutical Industries Ltd., Tata Consultancy Services Ltd., Hindustan Unilever Ltd., JSW Steel Ltd. were negatively contributing to the change in the Nifty 50 Index.
Whereas, ICICI Bank Ltd., HDFC Life Insurance Co., IndusInd Bank Ltd., HDFC Bank Ltd., and Reliance Industries Ltd. were positively adding to the change.
Sensex, Nifty Rise At The Opening Bell
Indian equity benchmarks rose on Monday morning as the stocks were mixed in Asian trade. The headlines indices snapped the three-week winning streak on Friday and the S&P BSE Sensex Index fell 1.28%, while NSE Nifty 50 Index declined 1.14%.
Stocks in Asia were mixed, while U.S. equity futures fell as investors prepare for a busy week of economic data that will help illuminate the path forward for interest rates.
Shares rose in Japan, but declined in Hong Kong, South Korea and Australia. Contracts for the S&P 500 and the Nasdaq 100 were both down about 0.2% following a muted end to trading last week.
At pre-open, the S&P BSE Sensex Index was up 219 points or 0.37% at 59,873.71 while the NSE Nifty 50 Index was higher by 84 points or 0.47% at 17,707.55.
Sensex, Nifty Rise At Pre-Open
At pre-open, the S&P BSE Sensex Index was up 219 points or 0.37% at 59,873.71 while the NSE Nifty 50 Index was higher by 84 points or 0.47% at 17,707.55.
Source: Bloomberg
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7.15% on Monday.
Source: Bloomberg
Rupee Flat Against The U.S. Dollar
The local currency opened flat at 82.10 against the greenback on Monday.
Source: Bloomberg
Adani Ports Commences Tender Offer For $130 Million Of Outstanding 3.375% Senior Notes Due 2024
Adani Ports and Special Economic Zone commenced tender offer to purchase for cash up to $130 million in aggregate principal amount of the outstanding 3.375% senior notes due 2024.
The purpose of the offer is to partly prepay the company's near-term debt maturities and to convey comfortable liquidity position.
After completion, it expects $520 million notes to remain outstanding.
It intends to offer to purchase for cash about $130 million of outstanding notes in each of the next four quarters.
Source: Exchange filing
Nifty IT Dips Over 5% In A Month: Trade Setup
Global Cues
U.S. Dollar Index at 101.7
U.S. 10-year bond yield at 3.56%
Brent crude down 0.73% to $81.06 per barrel
Nymex crude down 0.74% to $77.29 per barrel
Dow Jones Futures down 0.27% at 33,860
S&P 500 Futures down 0.23% at 4,147.25
Nasdaq Futures down 0.21% at 13,062.75
SGX Nifty up 0.33% at 17,697 as of 08:05 a.m.
Bitcoin up 0.81% at $27,730.25
Trading Tweaks
Price Band Revised From 5% To 20%: GHCL
Move Into Short-Term ASM Framework: Black Box
Move Out Short-Term ASM Framework: Bombay Dyeing & Manufacturing Company, Harsha Engineers International, Hindustan Foods
Stocks To Watch: RIL, IndusInd Bank, Persistent Systems, Mahindra Logistics, UBI, HDFC Bank
HDFC Bank: The bank received certain clarifications from the RBI with regard to the merger with HDFC. The banking regulator has not granted the lender any exemptions on requirements related to its cash reserve ratio, statutory liquidity ratio, and liquidity coverage ratio for the merger.
HDFC Asset Management Company: The company received final approval from markets regulator SEBI for the change in control from HDFC to HDFC Bank. The move was necessitated due to a change in co-sponsor of HDFC Mutual Fund on account of the amalgamation of HDFC with and into HDFC Bank.
Mahindra & Mahindra Financial Services: The company raised Rs 682 crore via the allotment of non-convertible debentures on a private placement basis.
Maruti Suzuki India: The company has recalled 7,213 Baleno RS vehicles, manufactured between Oct. 27, 2016 and Nov. 1, 2019, over a possible defect in the vacuum pump assisting the brake function.
Union Bank of India: The board will meet on April 26 to consider the bank’s capital plan. The plan proposed to raise equity capital via further public offerings, rights issues, private placements, and the issue of Basel III compliant additional Tier 1 and Tier 2 bonds.
Wipro: The company's board of directors will consider the proposal at its meeting on April 26–27. The decision regarding the buyback of equity shares will be communicated on April 27.
Q4 Results Today
IndusInd Bank, Persistent Systems, Bank of Maharashtra, Mahindra Logistics, Century Textiles & Industries, IIFL Securities, Maharashtra Scooters, NELCO, Tamilnad Mercantile Bank, Tata Teleservices (Maharashtra)
Earnings Fineprint
Reliance Industries Q4 FY23 (Consolidated, QoQ)
Revenue fell 1.91% to Rs 2,16,376 crore (Bloomberg estimate: Rs 2,25,204 crore)
Ebitda rose 9% to Rs 38,440 (Bloomberg estimate: Rs 36,915.3 crore)
Ebitda margin at 17.76% vs 15.9% (Bloomberg estimate: 16.4%)
Net profit rose 19.8% to Rs 21,327 crore (Bloomberg estimate: Rs 16,442.32 crore)
Reliance Retail Q4 FY23 (Consolidated, YoY)
Revenue up 19.4% to Rs 69,267 crore
Ebitda up 32.6% to Rs 4,914 crore
Ebitda margin at 7.9% versus 7.1%
Net profit up 12.9% to Rs 2,415 crore
Reliance Jio Q4 FY23 (Consolidated, QoQ)
Revenue up 1.72% at Rs 23,394 crore
Ebitda up 1.67% at Rs 12,210 crore
Ebitda margin at 52.19% vs 52.21%
Net profit up 1.68% at Rs 4,716 crore
Tejas Networks Q4 FY 23 (Consolidated, YoY)
Revenues up 136.62% at Rs 299.32 crore
EBITDA loss narrows to Rs 8.19 crore vs Ebitda loss of Rs 88.1 crore
Net loss narrows to Rs 11.5 crore vs loss of Rs 49.6 crore
Anand S Athreya has been appointed as managing director and CEO designate from April 21 to June 20. He will take over as managing director and CEO on June 21, 2023 and continue on the post till April 20, 2028.
Yes Bank Q4 FY23
Net Profit: Rs 202 crore versus 367 Rs crore (YoY)
NII: 2,105 crore Vs 1,819 Rs crore (YoY)
GNPA: 2.17% Vs 2% (QoQ)
NNPA: 0.83% Vs 1% (QoQ)
Bloomberg Net Profit Estimate: Rs 257 crore
ICICI Bank Q4 FY23
Net Profit: Rs 9121 crore vs Rs 7019 crore (YoY)
NII: Rs 17667 crore vs Rs 12605 crore (YoY)
GNPA: 2.81% vs 3.07% (QoQ)
NNPA: 0.48% vs 0.55% (QoQ)
The bank will raise Rs 25,000 crore through private placement of non-convertible debentures.
SGX Nifty Signals Higher Open For The Benchmarks
Stocks in Asia were mixed, while U.S. equity futures fell as investors prepare for a busy week of economic data that will help illuminate the path forward for interest rates.
Shares rose in Japan but declined in Hong Kong, South Korea, and Australia. Contracts for the S&P 500 and the Nasdaq 100 were both down about 0.2% following a muted end to trading last week.
The U.S. and the euro area are expected to release GDP data this week, and there will be monetary decisions in Sweden and Japan, where new governor Kazuo Ueda is expected to leave policy unchanged in his first meeting at the helm.
The yield on the 10-year Treasury note in the U.S. was trading at 3.56%. Crude oil prices traded around the $81 mark, while Bitcoin was trading below the $28,000 level.
At 8:05 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.33% at 17,697.
Domestic benchmark indices—the Sensex and Nifty—changed little as advances in IT and consumer goods stocks were offset by larger declines in real estate, metals, and automobile stocks.
The Indian rupee gained for the second straight day against the U.S. dollar, even as muted domestic equities and forex outflows limited its rise.
Foreign investors were net sellers for the fifth straight day on Friday and offloaded equities worth Rs 2,116.8 crore, according to data from the National Stock Exchange. On the other hand, domestic institutional investors were buyers for the second straight day and mopped up stocks worth Rs 1,632.7 crore.
