Stock Market Today: Sensex & Nifty's Two-Day Rebound Fails To Recoup Weekly Loss
Get all live updates on Indian stock market for Jan 5 here.
KEY HIGHLIGHTS
FPIs Stay Net Buyers For The Second Straight Day
Overseas investors remained net buyers of Indian equities for the second consecutive session on Friday.
Foreign portfolio investors mopped up stocks worth Rs 1,696.8 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net sellers and offloaded equities worth Rs 3,497.6 crore, the NSE data showed.
The S&P BSE Sensex closed 179 points, or 0.25%, higher at 72,026.15, while the NSE Nifty 50 gained 52 points, or 0.24%, to end at 21,710.80.
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 7 paise to close at 83.16 against the U.S dollar on Friday.
It closed at 83.23 on Thursday.
Source: Bloomberg
Sensex & Nifty's Two-Day Rebound Fails To Recoup Weekly Loss: Market Wrap
India's benchmark stock indices ended higher for second day on Friday as Tata Consultancy Services Ltd, Infosys Ltd, Larsen & Toubro Ltd.
However, both the benchmark indices logged weekly decline. The benchmark S&P BSE Sensex fell 0.30%, and the NSE Nifty 50 declined 0.09% this week.
The benchmark S&P BSE Sensex settled 0.25% or 178.58 points higher at 72,026.15, while the NSE Nifty 50 ended 0.24% or 52.20 points higher at 21,710.80.
"Nifty began the day with an upwards gap but ended the day without surpassing the previous day's high. However, the futures chart displays a distinct picture with the close visibly higher than the previous day's high. Banknifty, on the other hand, formed a hammer in a previous trading session, the confirmation of which was seen in yesterday's trading session. Looking at a broader market, Nifty 500 hit a fresh life high yesterday. All in all, it was a positive day for the Indian stock market," said Sudeep Shah, deputy vice president and head, Technical and Derivative Research Desk, at SBI Securities.
Larsen & Toubro Ltd, Tata Consultancy Services Ltd, Infosys Ltd, ICICI Bank Ltd, and Axis Bank Ltd supported the indices.
Sun Pharmaceutical Industries Ltd, Nestle India Ltd, ITC Ltd, Kotak Mahindra Bank Ltd, and HDFC Bank Ltd weighed on the indices.
Sectoral indices ended on a mixed note this week. Eight out of 12 sectors rose, while four declined. Nifty Realty emerged as the top gainer among sectoral indices.
The broader markets also rose. The S&P BSE Smallcap Index rose 0.61%, whereas S&P BSE MidCap Index was 0.19% higher.
On BSE, fifteen out of 20 sectors advanced, while five declined. S&P BSE Realty rose 6.52% and was the top gainer among sectoral indices. S&P BSE Information Technology and S&P BSE Capital Goods rose the most.
The market breadth was skewed in favour of the buyers. About 2,227 stocks advanced, 1,607 declined, and 102 remained unchanged on the BSE.
Godrej Industries Has 10.1 Lakh Shares Change Hands In Large Trade
Godrej Industries Ltd had 10.1 lakh shares changed hands in a large trade
The company's 0.4% equity changed hands at Rs 842.6 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Sensex, Nifty Near Day's Low As Banks Weigh: Midday Market Update
India's benchmark stock indices erased most of their early gains through midday on Thursday to trade near intraday lows, led by losses in financial services stocks.
As of 12:09 p.m., the Nifty 50 was 30.50 points, or 0.14%, higher at 21,689.10, while the Sensex rose 85.42 points, or 0.12%, to 71,932.99.
"Nifty witnessed a U-turn with a gap-up opening and went on to rise gradually as the day progressed to end on a positive note, improving the bias and sentiment once again," said Prabhudas Lilladher in a note. "The support is seen around 21,550, while the resistance is seen at 21,800 level."
Shares of Infosys Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Adani Ports and Special Economic Zone Ltd., and Axis Bank contributed to the Nifty 50.
While those of HDFC Bank Ltd., ITC Ltd., Sun Pharmaceutical Industries Ltd., Kotak Mahindra Bank Ltd., and Nestle India Ltd., weighed on the index.
Sectoral indices were mixed. Nifty IT rose the most by over 1% while Nifty Pharma lost 0.8%
However, broader markets outperformed with the BSE Midcap rising 0.42% and the Smallcap gaining 0.6% through midday on Thursday.
Seventeen out of the 20 sectors compiled by BSE Ltd. advanced, while three declined. Information technology and telecommunication indices rose the most.
The market breadth was skewed in favour of the buyers. About 2,283 stocks rose, 1,484 declined, and 124 remained unchanged on the BSE.
