Stock Market Today: Sensex, Nifty End Near Day's Low As HDFC Bank, RIL, ICICI Bank Drag
Catch all live updates on Indian markets on Jan. 9 here.
KEY HIGHLIGHTS
FPIs Snap Three-Day Buying Streak To Turn Net Sellers
Overseas investors turned net sellers of Indian equities on Tuesday, after being buyers for three consecutive sessions.
Foreign portfolio investors offloaded stocks worth Rs 990.9 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers and mopped up equities worth Rs 104.2 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 6,827 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.19% on Tuesday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 2 paise to close at 83.12 against the U.S dollar on Tuesday.
It closed at 83.14 on Monday.
Source: Bloomberg
Sensex, Nifty End Near Day's Low As HDFC Bank, RIL, ICICI Bank Drag: Market Wrap
India's benchmark stock indices pared intraday gains and closed near day's lows on Tuesday, tracking losses in HDFC Bank Ltd, ICICI Bank Ltd, and Reliance Industries Ltd. Losses in financial services sector stocks also weighed on the benchmark indices.
The benchmark BSE Sensex ended 0.043% or 30.99 points higher at 71,386.21, and the NSE Nifty 50 closed 0.15% or 31.85 points up at 21,544.85.
Intraday, the benchmark BSE Sensex rose 0.95% or 680.25 points to 72,035.47, while the NSE Nifty 50 gained 0.98% or 211.45 points to 21,724.45.
"Despite opening on a positive note, the Nifty 50 index continues to face hurdle near 21750 -21800 zone. The trend was resilient until the selling pressure mounted in the second half. The present trend appears to have engulfed in an anxious sentiment, however the support of 21500 keeps floating the upside bias. While the index succeeded to close in green, the trend remains fragile," said Avdhut Bagkar, technical and derivatives analyst at StoxBox said.
HDFC Bank Ltd, Reliance Industries Ltd, ICICI Bank Ltd, Axis Bank Ltd, and Asian Paints Ltd exerted pressure on benchmark indices.
Larsen & Toubro Ltd, Bharti Airtel Ltd, Infosys Ltd, Adani Ports and Special Economic Zone Ltd and Sun Pharmaceutical Industries Ltd added positively to the indices.
On NSE, five out of 12 sectors fell, while seven sectors gained. Nifty Media declined 3.44% and was the top dragger among sectoral indices. Nifty Realty rose 2.42% to emerge as the top gainer among sectoral indices.
The broader markets ended on a mixed note on BSE. The S&P BSE Smallcap Indexadvanced 0.37%, whereas S&P BSE MidCap Index was 0.07% higher. On BSE, five out of 20 sectors declined, while 15 advanced.
S&P BSE Bankex index declined 0.45% and was the top loser among sectoral indices, while S&P BSE Realty index rose 2.52% to become the top gainer among sectoral indices.
Market breadth was skewed in favour of the buyers. Around 2245 stocks gained, 1601 stocks declined, while 98 remained unchanged on BSE.
Suzlon Energy Appoints Sairam Prasad As CEO Of Global Unit
Sairam Prasad named as CEO of unit Suzlon Global Services effective Jan 16
Current CEO of Suzlon Global Services, Ishwar Chand Mangal, to be CEO of New Business
Source: Exchange filing
