Stock Market Today: Sensex, Nifty Close At Its Highest Levels In Three Weeks As Banking, I.T. Stocks Lead
Sensex closed up 1,032 points or 1.78% at 58,991.52 while Nifty was higher by 279 points or 1.63% at 17,359.75.
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Foreign Investors Remain Net Buyers For A Third Day
Foreign investors in Indian equities remained net buyers for the third day in a row on Friday.
Foreign portfolio investors bagged stocks worth Rs 357.86 crore in net terms, according to data from the National Stock Exchange.
Domestic institutional investors kept buying for a second day, raking in stocks worth Rs 2,479.96 crore, NSE data showed. They had snapped a 13-day buying streak on Tuesday.
Foreign institutions invested in Indian equities have remained net sellers so far in 2023, offloading equities worth around Rs 50,557.63 crore.
Rupee Strengthens Against The U.S. Dollar
The rupee strengthened by 16 paise to close at 82.18 against the greenback on Friday.
It closed at 82.34 on Wednesday.
Markets Rise Over 2% This Week
The headline indices snapped three weeks of declines to rise the most in 23 weeks or five months since Oct. 21 week. Nifty logged weekly gains of 2.45%, whereas Sensex advanced 2.55% in trade this week.
Indices ended lower in trade lask week, Sensex declined 0.80%, and Nifty was down 0.91%.
All the sectors advanced in trade this week with Nifty PSU Bank, Nifty Bank and Nifty IT being the top gainers.