KEY HIGHLIGHTS
Rupee Ends Weaker Against US Dollar
Rupee depreciated 2 paise to close at 83.92 against the US dollar.
It closed at 83.90 on Monday.
Source: Bloomberg
Market At Close
The NSE Nifty 50 ended 0.03% higher at 25,017.75, and the BSE Sensex ended 0.02% higher at 81,919.11.
The Nifty index moved in the range of 99.45 points, and the Sensex moved in 318.6-point range.
Bharti Airtel Ltd. rose to nearly one-month high after entering into a partnership with Apple Inc to provides latter's digital television and music services to Indian customers.
Zee Entertainment Enterprises Ltd. jumpe 14.57% to over one-month high after it resolved all the merger related disputes with Sony Pictures Networks India.
The NSE Nifty Pharma rose 0.90% and scaled a fresh high of 22,758.50 as Sun Pharmaceutical Industries Ltd., and Lupin Ltd. rose.
The NSE Nifty IT rose 0.66% and hit a fresh high of 41,936.70 on gains in Infosys Ltd., and Coforge Ltd. rose.
The NSE Nifty FMCG index rose 0.23% to 63,805.95, marking the highest level since inception as United Breweries Ltd., and Godrej Consumer Products Ltd. gained.
The NSE Nifty Smallcap 250 index rose 0.70% to a fresh high of 18,207.25 as Tata Investment Corp Ltd., and Kfin Technologies Ltd. rose.
Nifty, Sensex End Lackluster Session Mixed; RIL, HUL Drag: Market Wrap
India's benchmark stock indices ended the lackluster session of Tuesday with little change. Gains in Infosys Ltd., and Larsen & Toubro Ltd. supported the indices, while losses in Reliance Industries Ltd., and Hindustan Unilever Ltd. weighed.
The NSE Nifty 50 ended 7.15 points or 0.03% higher at 25,017.75, and the BSE Sensex ended 13.65 points or 0.02% higher at 81,711.76.
In the second half of the trade, the Nifty 50 rose 0.25% to 25,073.10, and the Sensex rose 0.27% to 81,919.11. The Nifty index moved in the range of 99.45 points, and the Sensex moved in 318.6-point range.
"On the daily timeframe, the Index has made a Doji candlestick pattern near the record levels indicating indecisiveness between the bulls and bears. A firm close above 25,100 will push the Index higher to the 25,200-25,300 zone; on the flip side, 24,870 will be considered as an immediate strong support," said Aditya Gaggar, Director, Progressive Shares.
Doji candlestick is pattern found in charts of analysis of financial instruments.
Infosys Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., Maruti Suzuki India Ltd., and Bajaj Finance Ltd. added to the index.
Reliance Industries Ltd., Hindustan Unilever Ltd., ITC Ltd., HDFC Bank Ltd., and Titan Co. Ltd. weighed on the index.
On NSE, six sectors advanced, four declined, and two ended flat out of 12. The NSE Nifty Media rose the most, and the NSE Nifty FMCG declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.58% and 0.5% higher, respectively.
On BSE, nine sectors advanced and 11 declined out of 20. The BSE Telecom ended with the most gains compared to other sectoral indices. The BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 2,154 stocks advanced, 1,803 stocks declined, and 94 stocks remained unchanged on BSE.
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Paras Defence Space & Technologies Approves To Raise Funds Through QIP
Paras Defence Space & Technologies Ltd. approved raising up to Rs 200 crore via QIP
Source: Exchange filing
Zee Entertainment Jumps Nearly 14%
Shares of Zee Entertainment Enterprises Ltd. jumped 14.57% to Rs 153.97, the highest level since July 16. It pared gains to trade 7.98% higher at Rs 145.94 as of 2:35 p.m., as compared to 0.16% advance in the NSE Nifty 50 index.
The movement in the stock price came after the company approved settlement of all disputes with Sony Pictures Networks India with regards to merger scheme. Mutually terminates all transaction documents with Sony Pictures India Network Ltd, the company said in an exchange filing on Tuesday.
Zee Entertainment Enterprises withdrew all application or disputes raised with Singapore arbitration authority. Further, it withdrew claims for settlement dispute, including $90 million claim over termination fee, the exchange filing said.
Read More Here
SEBI's Settlement Order For Citibank N.A.
Citibank N.A. settles with SEBI for over Rs. 40 lakhs
The regulator has started an investigation for non compliance of several rules.
This includes foreign investment rules, guidelines for depositories and participants and more.
Source: SEBI order
IPO Update – Concord Enviro Systems
Files draft papers for IPO having fresh issue worth Rs 192 crore and offer for sale of up to 51.9 crore shares.
Source: DRHP
Shilpa Medicare Gets US FDA Approval For Injection To Treat Blood Cell Cancer
Shilpa Medicare Ltd. received the US Food and Drug Administration's approval for Bortezomib injection.
Alert: Bortezomib injection is indicated to treat blood plasma cell cancer in patients
Source: Exchange filing
Premier Energies IPO Fully Subscribed On Day 1
As of 1:43 p.m., it was subscribed 1.07 times.
Non Institutional Investor share subscribed 2.26 times
Nifty Nears Record High To Notch Best Rally In Over 16 Months: Midday Market Update
India's benchmark indices extended gains by midday on Tuesday, buoyed by financial service stocks, while technology stocks continued to rise on the US Federal Reserve Chair's dovish tilt last week.
The Nifty 50 index was about 10 points shy of hitting a fresh record high as of 11:55 a.m., after reclaiming the 25,000 level in the previous session.
As of 11:40 a.m., the NSE Nifty 50 was 52 points, or 0.2%, higher at 25,060, and the BSE Sensex was up 190 points, or 0.23%, at 81,888. Intraday, Nifty rose 0.25% to 25,073, and Sensex rose 0.27% to 81,919.
The information technology gauge, Nifty IT, rose for the second consecutive day after Jerome Powell said "time has come" for September rate cuts, boosting business prospects for domestic firms. The index closed 1.4% on Monday and rose as much as 0.66% during the session.
As long as 24,919–24,870 holds for Nifty, there are still hopes of a push towards our first objective of 25,075 or 25,150, said Anand James, chief market strategist at Geojit Financial Services.
If geopolitical tensions cause dips in the market, DIIs and retail investors are likely to buy that dip, according to VK Vijayakumar, chief investment strategist at Geojit Financial Services. "Financials, particularly banking and other rate-sensitive sectors like housing and automobiles, are the likely preferred sectors for institutional buying."
Shares of Larsen & Toubro Ltd., ICICI Bank Ltd., Infosys Ltd., HDFC Bank Ltd., and Maruti Suzuki India Ltd. positively contributed to changes in the index.
While those of Reliance Industries Ltd., ITC Ltd., Hindustan Unilever Ltd., NTPC Ltd., and Tata Motors Ltd. weighed the index.
On NSE, 10 out of 12 sectors advanced with Nifty Realty and Media rising during the session. The FMCH index fell over 0.5% after hitting a fresh life high early in the day.
Broader markets outperformed the benchmark indices. The BSE Midcap and Smallcap indices were trading 0.44% and 0.55% higher, respectively.
On BSE, 17 out of 20 sectors advanced, with the BSE Capital Goods rising the most. BSE FMCG and Metal were the top losers in trade.
Market breadth was skewed in the favour of buyers. Around 2,283 stocks rose, 1,458 stocks declined, and 143 stocks remained unchanged on BSE.
IPO Update: Premier Energies
Overall subscription as of 12:27 pm at 75%
Non Institutional Investors' subscription as of 12:27 pm at 1.47 times
Retail subscription as of 12:27 pm at 84%
Source: BSE
Airtel In Pact With Apple Inc For Apple TV+ India
Bharti Airtel Ltd. is in pact with Apple for Apple TV+, Music in India
Airtel users will have access to Apple Music.
Wynk Premium users will receive exclusive offers from Airtel for Apple Music.
Source: Exchange filing
RVNL Emerges As Lowest Bidder For A Southern Railway Project
Rail Vikas Nigam Ltd. emerged as the lowest bidder for project worth Rs 111 crore from Southern Railway.
Source: Exchange filing
Exports To Be 40-45% Of Zen Tech's Revenue Going Forward, CMD Says
Zen Technologies Ltd. expects exports will be 40-45% of the revenue going forward.
Ebitda margin is to stay at 35% and PAT at 25%.
Source: Ashok Atluri, chairman and managing director, Zen Technologies Ltd. to NDTV Profit
Bajaj Auto Rises To Record High
Shares of Bajaj Auto Ltd. rose as much as 1.30% to Rs 10,568, the highest level since its listing on May 26, 2008. It was trading 0.96% higher at Rs 10,532.65 as of 11:06 a.m., as compared to 0.09% advance in the NSE Nifty 50 index.
JSW Infrastructure Rises To Three-Week High After Jefferies Initiates Coverage
Shares of JSW Infrastructure Ltd. rose as much as 5.08% to Rs 731.10, the highest level since Aug 6. It was trading 3.59% higher at Rs 320.25 as of 11:00 a.m., compared to 0.09% advance in the NSE Nifty 50 index.
Jefferies on India Ports
Jefferies initiates Buy on JSW Infrastructure Ltd. with a target price Rs 375, which implied 21.3% upside.
Jefferies expects JSW Infrastructure growth will be more than 20% from current levels.
Believes all-India port cargo to rise 6% CAGR in the period between financial year 2023-24-2029-30.
Jefferies growth is slightly higher than the 5% CAGR of the last 10 years.
The brokerage remained positive on Adani Ports and Special Economic Zone Ltd., dominant market leader with 27% share.
Pipavav will find hard to maintain share given Adani Group's stronghold at Mundra Port.
Private Sector Ports seeing double-digit volume and Ebitda CAGR should continue.
Ashok Leyland Hits Fresh High
Shares of Ashok Leyland Ltd. rose as much as 1.52% to Rs 264.10, the highest level since its listing on May 25, 1995. It was trading 1.44% higher at 263.90 as of 10:36 a.m., as compared to 0.04% advance in the NSE Nifty 50 index.
Maruti Suzuki 43rd AGM: Key Highlights
Financial year 2023-24 was the best in the history of Maruti Suzuki India Ltd.
Proposes record dividend of Rs 125 per share in FY25
Low-cost and small cars are necessary for our country
Strengthening sales-service network in rural areas
Committed to cleaner environs, carbon neutrality
Exports to cross 300,000 units in FY25
India-made EVs will be exported to Europe, US, Japan
The Fronx is already getting exported to Japan
Source: Chairman R.C. Bhargava at AGM
Holderind Investment Offload Stakes In Ambuja Cements
Holderind Investment sold 2.76% stake in Ambuja Cements Ltd. on August 23 via block deal.
Source: Exchange filing
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
No Negative Factors In Near Term, Says Capitalmind Founder
Customers are giving money to invest. Capitalmind serves customers who can give us Rs 50 lakh or more.
The company intended to start the mutual fund since a long time. The mutual fund is more regulated which is better than a portfolio management service.
Capitalmind is now able to serve a much larger section of the society than a PMS.
In the near term, don’t see any negative factors. Next five years, India is going to see a dramatic increase. India is a great story in terms of long term.
From 2019 to now, the earnings in small cap index was up 3.5 times.
Capitalmind doesn’t see any valuations problem in midcaps. In Small caps, some pockets are overvalued
Source: Deepak Shenoy, founder & CEO, Capitalmind to NDTV Profit
Sun Pharma Rises To Fresh High
Shares of Sun Pharmaceutical Industries rose 0.77% to Rs 1,786.15, the highest level since its listing on the bourses. The stock was 0.70% or 12.35 points higher at Rs 1,784.80 as of 10:08 a.m.
Bondada Engineering Shares Locked In Upper Circuit
Shares of Bondada Engineering Ltd. were locked in a 5% upper circuit on Tuesday after it won contract worth Rs 575 crore. The contract involves the design, survey, supply, installation, testing, and commissioning of grid-connected solar power plants, as per an exchange filing.
Medi Assist Shares Jump After Paramount TPA Acquisition
Shares of Medi Assist Healthcare Services Ltd. jumped over 11% on Tuesday after its subsidiary acquired Paramount Health Services & Insurance TPA in a deal valued at over Rs 400 crore.
GPT Infraprojects Rises To One-Month High After Launching QIP
Shares of GPT Infraprojects Ltd. jumped to hit an over month high a day after the company launched its QIP and setting a floor price of Rs 183.83 per equity share.
Here Are Indices That Hit Fresh High On Tuesday
Nifty, Sensex Open Flat; L&T, HCL Tech Lead Gains: Opening Bell
Indian markets started Tuesday on a muted note on lack of significant cues. Gains in shares of HCL Technologies Ltd., and Larsen & Toubro Ltd. supported the benchmark indices.
As of 09:18 a.m., the NSE Nifty 50 was trading 19.65 points or 0.08% higher at 25,030.25, and the BSE Sensex was trading 65.12 points or 0.08% higher at 81,763.23.
"Lack of upside momentum prompts Nifty to stare at the possibilities of a drop to 24,700. However, as long as 24,919-870 holds, we could still retain hopes of a push towards 25,075 or 25,150," Geojiit Financial Services said in a report today.
HCL Technologies Ltd., Infosys Ltd., Power Grid Corp Of India Ltd., Larsen & Toubro Ltd., and UltraTech Cement Ltd. added to the NSE Nifty 50 index.
ICICI Bank Ltd., Reliance Industries Ltd., Kotak Mahindra Bank Ltd., Tata Consultancy Services Ltd., and Asian Paints Ltd. pressured the index.
On NSE, seven sectors advanced, three declined, and two remained unchanged out of 12. The NSE Nifty Pharma rose the most, and the NSE Nifty Auto declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.24% and 0.42% higher, respectively.
On BSE, 14 sectors advanced, and six declined out of 20. The BSE Power rose the most, and the BSE Telecommunication declined the most.
Market breadth was skewed in favour of buyers. Around 1,873 stocks advanced, 1,099 stocks declined, and 129 stocks remained unchanged on BSE.
Nifty, Sensex Trade Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 14.20 points or 0.06% higher at 25,024.80, and the BSE Sensex was 0.14% or 116.95 points higher at 81,815.06.
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Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.9%.
It closed at 6.9% on Monday.
Source: Bloomberg
JP Morgan Initiates Coverage On Indegene
Initiates with neutral rating at Rs 570
Expect growth to bounce back to early teens from FY26
Expect to enjoy low-teens secular growth due to
Low tech penetration in life sciences industry
strong track record
Differentiated service offerings
Trades at premium to most TechOps firms
Finds fairly priced with full valuations & current visibility on new drug launches for clients
Rupee weakens Against US Dollar
Rupee weakened by 2 paise to open at 83.92 against the US dollar.
It closed at 83.90 on Monday.
Source: Bloomberg
Global Health Not Mulling To Buy Stakes In Paramount TPA
Global Health Ltd. is not planning to acquire any stakes in Paramount TPA
Alert: Clarifies on report of Medanta unit to acquire Paramount
Source: Exchange filing
HUL Gets Tax Demand Worth Rs 936 Crore
Hindustan Unilever Ltd. received demand worth Rs 963 crore including interest from Income Tax Department, Mumbai.
Source: Exchange filing
Adani Power Incorporates New Unit In Abu Dhabi
Adani Power Ltd. ncorporates wholly-owned subsidiary Adani Power Middle East in Abu Dhabi
Incorporates subsidiary to invest in power, infrastructure and related fields
Source: Exchange filing
Emkay Global Research On Raymond Lifestyle
Is a play on the huge opportunity in Indian weddings space, textiles, exports, and styling
Targets CAGR of 12-15%/16-17% in revenue/EBITDA, over FY24-28
Topline growth is likely to be led by CAGR of 18-20% in its apparel/garmenting businesses, 7-8% in high ROCE textiles business
Would stand among the global top-3
Net-debt free player, expected to be listed by mid Sep-24
Retail expansion are expected to drive 18-20% CAGR
Retail expansion is expected to be asset-light and franchisee-driven
IPO Update – Gala Precision
Sets price band at Rs 503-529 per share
Subscription for the issue to open on September 2 and close on September 4
Anchor investor bidding to take place on Aug 30
Source: Company Statement
Nuvama on Indigo
Rates Buy on Indigo with TP of Rs. 5,300 (+12%)
Order book stands at 975, enabling the airline to receive more than one aircraft per week, offsetting the impact of 70-plus AOG
IndiGo’s tailor-made product is likely to revolutionise the business-class flying experience in India; it may lead to a new growth avenue
Duopolistic nature of the industry ensures pricing discipline and drives up yields
Nuvama On Hot Property- Real Estate
Housing demand in July 2024 in India’s top seven cities rose 11% MoM
The year to date absorption surged most in Kolkata and MMR region
Trend of softness in launches reversed in Jul-24
Launches increased 15% MoM, rising most in the NCR and Chennai
Prices rose in most cities year on year , surging 36% on the year in Bengaluru
Unsold inventory dipped 2% year on year in India in July 2024
Outlook Going Forward
Absorption continue to be healthy aided by high levels of affordability
Launches shall remain contained due to liquidity constraints
Believes good opportunity to enter realty stocks with favourable valuations
Prestige Estates, Brigade and Sobha remain as top picks
Global Cues
U.S. Dollar Index at 100.83
U.S. 10-year bond yield at 3.81%
Brent crude down 0.36% at $81.14 per barrel
Bitcoin was down 0.39% at $63,198.89
The GIFT Nifty was trading 6.50 points or 0.03% lower at 25030.00 as of 7:46 a.m.
Money Market
The Indian rupee closed flat against the US dollar on Monday, paring morning gains, as month-end dollar demand from importers offset the impact of easing greenbacks following Federal Reserve Chair Jerome Powell's Jackson Hole address, which bolstered expectations for an interest rate cut at the September meeting.
The local currency closed flat at Rs 83.90 on Friday after opening at Rs 83.82, according to Bloomberg data.
Also Read: Rupee Ends Flat Against US Dollar
F&O Cues
Nifty August futures up by 0.77% to 25,043 at a premium of 33 points.
Nifty August futures open interest down by 10.8%.
Nifty Bank August futures up by 0.5% to 51,219, at a premium of 71 points.
Nifty Bank August futures open interest down by 8.7%.
Nifty Options Aug. 29 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,000.
Bank Nifty Options Aug. 28 Expiry: Maximum call open interest at 52,000 and maximum put open interest at 51,000.
Securities in ban period: Aarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Birlasoft, Chambal Fertilisers and Chemicals, India Cements, and RBL Bank.
Insider Trades
Usha Martin: Promoter Umil Share and Stock Broking Services bought 50,000 shares on Aug. 20 and promoter Stuti Raghav Agarwalla bought 50,000 shares on Aug. 20.
Ethos: Promoter Mahen Distribution sold 2.88 lakh shares between Aug. 21 and 22, and Promoter Saboo Ventures LLP sold 2.52 lakh shares between Aug. 22 and 23.
Deccan Gold Mines: Promoter Rama Mines Mauritius sold 94,607 shares on Aug. 22.
Sapphire Foods India: Promoter Sagista Realty Advisors (as trustee of QSR Management Trust) sold 61,590 shares between Aug. 22 and 23.
Pledge Share Details
Choice International: Promoter Shree Shakambhari Exims created a pledge for 8 lakh shares on Aug. 22.
Lloyds Metals and Energy: Promoter Thriveni Earthmovers created a pledge for 95 lakh shares on Aug. 23.
Trading Tweaks
Price band change from 10% to 5%: Century Extrusions.
Ex/record dividend: KDDL, Manorama Industries.
Ex/record AGM: Manorama Industries.
Ex/record buyback: Suprajit Engineering, Technocraft Industries, KDDL.
Moved out of short-term ASM Framework: Inox Wind, Triveni Turbine.
IPO Offering
Premier Energies: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 427 to Rs 450 per share. The Rs 2,830-crore IPO is a combination of a fresh issue of Rs 1,291.4 crore and an offer for sale.
Block Deals
AU Small Finance Bank: Fincare Business Services sold 1.27 crore shares (1.7%) at Rs 630 apiece. DSP Mutual Fund bought 1.03 crore shares (1.38%) at Rs 630 apiece. Morgan Stanley Asia Singapore Pte bought 10.6 lakh shares (0.14%) at Rs 630 apiece, among others.
Seamec: Legends Global Opportunities (Singapore) bought 1.9 lakh shares (0.74%) at Rs 1,525 apiece, and Nomura Singapore sold 1.9 lakh shares (0.74%) at Rs 1,525 apiece.
Bulk Deals
Medplus Health Services: Lavender Rose Investment sold 1.35 crore shares (11.35%) at Rs 616.48 apiece. ICICI Prudential India Opportunities Fund bought 18.12 lakh shares (1.52%) at Rs 616 apiece. ICICI Prudential Pharma Healthcare & Diagnostics (P.H.D.) Fund bought 17.06 lakh shares (1.43%) at Rs 616 apiece and the Government of Singapore bought 11.54 lakh shares (0.97%) at Rs 616.2 apiece.
Stocks To Watch
Zydus Lifesciences: The company clarified that Monday's stock movement was not attributable to the previously announced acquisition of a 50% stake in Sterling Biotech. It also added that USFDA approval for a generic medicine of mesalamine has been given to another company, which could impact sales. The impact of the hit has already been factored into sales and Ebitda expectations for the financial year 2025.
UltraTech Cement: The company raised $500 million through a sustainability-linked loan with participation from six banks.
Piramal Enterprises: The company unit Piramal Capital & Housing Finance was held liable for a Rs 466 crore penalty on a voluntarily withdrawn claim of Rs 3,698 crore from the Dewan Housing Finance merger.
GPT Infraprojects: The company launched a QIP, setting the floor price at Rs 183.83 per share.
Medi Assist Healthcare Services: The company's arm will enter into a share purchase agreement to buy Paramount TPA for Rs 312 crore.
Jai Corp: The company received notification of the merger of promoter Pet Fibres with Mega Pipes.
PI Industries: The company appointed Sanjay Agarwal as group chief financial officer effective Aug. 26, after Manikantan Viswanathan attained the age of superannuation.
HCL Technologies: The company extended the agreement with Xerox for AI-based innovation and digital engineering solutions.
Vijaya Diagnostic Centre: Sheshadri Vasan resigned as chief operating officer effective Nov. 6.
Mazagon Dock Shipbuilders: The company extended Sanjeev Singhal's term as chairman and managing director for five more months, effective Aug. 1.
Lemon Tree Hotels: The company signed a licence pact for an 80-room hotel in Ayodhya.
GIFT Nifty Trades Above 25,000
Asian indices were mixed in early trade with Japan's Nikkei trading 0.1% lower, Australia's S&P ASX 200 trading flat and South Korea's Kospi trading 0.3% lower at 6:36 a.m.
Investors will monitor the macro data from key regions due this week, including Singapore and Japan's inflation data due Friday and Bank of Korea's rate decision to be released on Thursday.
US stock traders, buoyed by the anticipated Federal Reserve rate cuts, pushed down tech megacaps just days before Nvidia Corp.'s earnings report.
Most S&P 500 shares saw gains as Wall Street continued its trend of shifting funds away from big tech stocks. On Monday, the S&P 500 closed at 5,616.84, after falling 0.32% and the Nasdaq Composite fell 0.85% to close at 17,725.77. The Dow Jones Industrial Average rose 0.16% to close at 41,240.52.
Brent crude was trading 0.25% lower at $81.23 a barrel at 6:27 a.m., when Gold fell 0.18% to $2,513.4 an ounce.
GIFT Nifty was trading 0.1% lower at 25,011.50 as of 6:30 a.m.
The NSE Nifty 50 logged its longest stretch of gaining streak in more than a year to end above the psychologically crucial 25,000 mark on Monday, after 16 sessions and the S&P BSE Sensex extended its gains for the fifth consecutive session. The rally came after dovish commentary by US Fed Chair Jerome Powell at the Jackson Hole symposium, which confirmed a September rate cut in the US.
Nifty closed 187.45 points, or 0.76% higher at 25,010.60 and Sensex was 611.90 points or 0.75%, up at 81,698.11. Both indices closed at their highest levels since Aug. 1.
Overseas investors stayed net buyers of Indian equities on Monday for the third consecutive session. Foreign portfolio investors bought stocks worth Rs 483.4 crore, while domestic investors stayed net buyers for the 16th session and bought equities worth Rs 1,870.2 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 83.90 against the US dollar.
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