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Stock Market Today: Sensex, Nifty Rise For The Third Day As Kotak, Axis Lead; FIIs Turn Net Buyers

Sensex was up 5 points or 0.01% at 62,792.88 while the Nifty was 5 points or 0.03% higher at 18,599.90.

<div class="paragraphs"><p>National Stock Exchange of India Ltd. (NSE) building in Mumbai, India, on Tuesday, Dec. 20, 2022.  Photographer: Atul Loke/Bloomberg</p></div>
National Stock Exchange of India Ltd. (NSE) building in Mumbai, India, on Tuesday, Dec. 20, 2022. Photographer: Atul Loke/Bloomberg
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Net Institutional Flows

Overseas investors in Indian equities turned net buyers after three continuous days of net selling on Tuesday. This is the first net buying in the month of June so far.

Foreign portfolio investors mopped up stocks worth Rs 385.71 crore, according to data from the National Stock Exchange.

Domestic institutional investors turned net sellers after net buying for the three days in a row and offloaded equities worth Rs 489.02 crore, the NSE data showed.

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10-Year Bond Yield Falls

Yield on the 10-year bond fell 2bps to 6.98% on Tuesday.

Source: Bloomberg


Rupee Strengthens Against The U.S. Dollar

  • The local currency appreciated 7 paise to close at 82.61 against the U.S dollar on Tuesday.

  • The local currency closed at 82.68 on Monday.

Source: Bloomberg

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Broader Markets Outperform 

The broader market indices outperformed the larger peers; the S&P BSE MidCap Index was up 0.29%, whereas S&P BSE SmallCap Index was higher by 0.42%.

Thirteen out of the 19 sectors compiled by BSE advanced, while six sectors advanced declined with S&P BSE Information Technology falling the most.

The market breadth was skewed in the favour of the buyers. About 1,999 stocks rose 1,533 declined, and 127 remained unchanged on the BSE.


Top Movers On The Nifty 50 Index

Infosys Ltd., TCS Ltd., ICICI Bank Ltd., HCDFC Bank Ltd., and HDFC Ltd. were negatively adding to the change in the Nifty 50 Index.

Whereas, Kotak Mahindra Bank Ltd., Axis Bank Ltd., UltraTech Cement Ltd., Maruti Suzuki Ltd., and Bajaj Finance Ltd. were positively contributing to the change.

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