Stock Market Today: Nifty, Sensex End Muted Week Higher Before Powell's Jackson Hole Speech

• Rupee strengthened by 5 paise to close 83.90 against the US dollar.

• It closed at 83.95 on Thursday.

Source: Bloomberg

Benchmarks ended the muted session with little change, while posting a two-week winning streak on Friday as market participants await the US Federal Reserve Chair Jerome Powell's speech at Jackson Hole gathering.

The Fed Chair will speak at the annual summit at 10:00 a.m., New York time on Friday.

The NSE Nifty 50 ended 11.65 points or 0.05% higher at 24,823.15, and the S&P BSE Sensex ended 33.02 points or 0.04% higher at 81,086.2.

Gains in ICICI Bank Ltd., Bajaj Auto Ltd. supported the indices, while losses in Infosys Ltd., and Tata Consultancy Services Ltd. pressured the benchmarks.

During the day, the Nifty 50 rose 0.19% to 24,858.40, and the BSE Sensex rose 0.22% to 81,231.49.

"Global markets were in a bullish mood, as data-prints supported views of a rate cut in the US. Meanwhile, domestic sentiments remained bullish with investors hoping for a strong earnings recovery, after first quarter in financial year 2024-25 earnings reported modest growth on a year-on-year basis," said Shrikant Chouhan, head, equity Research, Kotak Securities.

On a weekly basis, the Nifty added 1.15% and the Sensex rose 0.81%.

"The index concluded the week with a positive momentum, closing over 290 points higher than the previous week. The market breadth displayed a marginal negativity, while the majority of sectors, with the exception of the auto, consumption, infrastructure, and energy indices, concluded with loses," said Avdhut Bagkar, technical and derivatives analyst, StoxBox.

ICICI Bank Ltd., Bharti Airtel Ltd., Bajaj Auto Ltd., Tata Motors Ltd., and Mahidnra & Mahindra Ltd. added to the benchmark index.

Infosys Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., Oil and Natural Gas Corp, and State Bank of India weighed on the index.

On NSE, 11 sectors ended higher, and one declined out of 12. The NSE Nifty Metal was the best performing sector of the week, and the NSE Nifty Realty was the worst performing sector.

Broader indices were mixed at close. BSE Midcap ended 0.7% lower and BSE Smallcap closed 0.15% higher.

"The mid-cap index gained, around 2.3% and small-cap index gained 3.5% outperforming large-caps," said Shrikant Chouhan, head, equity Research, Kotak Securities.

Nine out of 20 sectoral indices on the BSE ended higher and 11 declined. BSE Realty was the top loser.

Market breadth was skewed in the favour of buyers. As many as 2,061 stocks rose, 1,861 declined, and 103 remained unchanged on the BSE.

• The NSE Nifty 50 rose for a sevent consecutive session on Friday. The index moved in the range of 87 points on Friday.

• The BSE Sensex rose for a fourth consecutive session. The index moved in the range of 348 points. 

• ICICI Bank Ltd., Bharti Airte Ltd., and Bajaj Autol Ltd. are top gainers in the Nifty 50 index.

• Infosys Ltd., HDFC Bank Ltd., and Tata Consultancy Services Ltd. are top losers in the Nifty 50 index.

• All Anil Ambani Group stocks declined with the Reliance Infrastructure falling the most after SEBI bars the industrialist for fund diversion allegation.

• The NSE Nifty Auto index rose the most, while the NSE Nifty Realty declined the most. 

• The NSE Nifty Midcap 150 ended 0.56% lower at 21,645.65.

•  The NSE Nifty Smallcap 250 settled0.12% higher at 18,006.55.

• The US Food and Drug Administration's inspection at FDC Ltd. Himachal Pradesh manufacturing plant closes with zero observations.

Source: Exchange filing

• Tata Power Solar Systems in pact with ICICI Bank to provide easy financing.

Source: Exchange filing from Tata Power Co. Ltd.

• In the real estate space, premium and high end growth much faster than lower end. This gives us a big opportunity to scale forward.

• First phase of manufacturing already in place, expect completion by this month.

• Phase 2 and Phase 3 will be launched in financial year 2024-25 and financial year 2025-26, respectively.

• Have almost invested 150-160 crore as in Phase 1

• Initially the import component may be high, expect this to go down after Phase 2 and 3 launch

• Timber prices remain at levels as seen in Q1, dont expect it to soften in next 3-4 quarters

Source: Manoj Tulsian,Jt. managing director, and CEO, Greenply Industries to NDTV Profit

India's benchmark stock indices extended gains through midday on Friday, led by auto stocks, tracking mixed global cues ahead of US Fed Chair Jerome Powell’s speech in Jackson Hole, that may bring clarity on September's rate action.

At 12:03 p.m., the NSE Nifty 50 was trading 27 points, or 0.11% higher at 24,839, while the S&P BSE Sensex was up 50 points, or 0.06% at 81,100.

Nifty is holding its 20-week average of 24,600 levels, which would be key to hold for the broader market up-move, according to Vikas Jain, head of research at Reliance Securities Ltd.

"On the higher side, the breakout of 25,000 levels would extend the up move to 25,300, while on the downside 24,400 will be a trend reversal point," he said.

The relative strength index is trending above the average line and other key technical indicators are piercing to the higher band of scale, Jain noted.

Sun Pharmaceutical Industries Ltd. introduced Starizo in India for skin infections treatment.

Source: Exchange filing

• Jindal Saw Ltd.'s board approved splitting each share into 2 shares.

Source: Exchange filing

• Bikaji Foods International Ltd. will acquire 55% stake in Ariba Foods.

Source: Exchange filing

Shares of Power Mech Projects Ltd. jumped nearly 17% on Friday after its board fixed Sept. 28 as the record date for its bonus issue. The company said on Aug. 22 that it will issue bonus shares in a 1:1 ratio, pending shareholder approval at the upcoming AGM.

Market-cap of Anil Ambani's group of companies declined Rs 1,752 to Rs 22,393.22 crore as of 12:46 p.m.

• JK Cement Ltd. is likely to set up 6 million ton new grinding units at Jaisalmer.

• It will also set up 8 mt new clinker units at Jaisalmer.

• It will invest Rs 4,900 crore in Jaisalmer project.

Sources to Informist

• Bigbloc Construction Ltd.'s unit Starbigbloc Building Material approves allotment of 27 lakhs shares worth Rs 33.8 crore to proposed allottees.

• Starbigbloc to cease to be wholly-owned subsidiary, continue as subsidiary post completion of private placement.

Source: Exchange filing

Shares of Central Depository Services Ltd. rose over 7% on Friday to hit a life high on Thursday as the stock traded ex-date for its bonus issue.

Shares of the company rose as much as 7.58% during the day. They pared gains to trade 4.45% higher at Rs 1,513.60 apiece, as of 09:45 a.m., compared to a 0.19% advance in the NSE Nifty 50.

The stock has risen 159.11% year-to-date. Total traded volume so far in the day stood at 7.6 times its 30-day average. The relative strength index was at 78.84.

Out of nine analysts tracking the company, three maintain a 'buy' rating, five recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 25.1%.

• Rupee appreciated 9 paise to 83.86 against the US dollar.

• It closed at 83.95 on Thursday.

Source: Bloomberg

• Sees FY25 cost of production at $1,050-1,100/ton

• See FY25 refined metal output at 1,075-1,100 kilotonne per annum

• Debari roaster commissioning targeted by Q4

Source: Investor Presentation

Inaugurates electronics manufacturing facility in Hyderabad

Source: Exchange Filing

• Sebi bars Anil Ambani from being on board of any listed company or its associates for 5-years

• Imposes penalty of Rs 25 crore on Anil Ambani

• Also bans some former officials of Reliance Home Finance from securities market for 5 years

Source: SEBI Order

Shares of Nykaa parent firm FSN E-Commerce Ventures Ltd. gained over 4% on Friday following a large trade. Early investors reportedly sold a 1.4% stake for over Rs 858 crore.

Shares of Nykaa rose as much as 4.55% during the day to Rs 220 apiece on the NSE. It was trading 4.19% higher at Rs 219.8 apiece, compared to a 0.08% advance in the benchmark Nifty 50 as of 9:53a.m.

It has risen 60% in the last 12 months and 25% on a year-to-date basis. The total traded volume so far in the day stood at 40 times its 30-day average. The relative strength index was at 72.

Fourteen out of the 23 analysts tracking the company have a 'buy' rating on the stock, five recommend a 'hold' and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6.4%.

Shares of Adani Power advanced as much as 2.3% before paring gains to trade 1.2% higher at Rs 682 per share at 9:58 a.m. The benchmark NSE Nifty 50 was trading 0.02% higher.

The stock has risen 111% in the last 12 months and 32% year-to-date. The relative strength index was 42.

The sole analyst tracking Adani Power has a 'buy' rating, according to Bloomberg data.

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.

• India will be very close to China in terms of weightage in emerging markets. The country is close to second place.

• The bigger picture is that India's weight in emerging markets or MSCI is going to increase.

• India is trading at 80% premium to the region. The country is getting premium but is not super expensive.

• A lot of underlying move has been by underlying earnings, which is a good thing to have, which is why Goldman is positive on India.

• India's valuations are richer but not overvalued.

• India's valuation remains the greatest concern for clients

• India outperformed in July–August. This outperformance implies how India is resilient in the Global market sell off.

• India has been seeing foreign outflows

Source: Sunil Koul, Asia Pacific Portfolio Strategist, Goldman Sachs to NDTV Profit

• Poly Medicure Ltd. expects 22–25% sales growth in financial year 2024-25.

• The company's Ebitda margins for FY25 expected to be at 27–27.5%.

• We believe next 2 quarters to be good for unbranded generics but post that Earnings will normalise.

• Poly Medicure will do Rs 1,000 crore fund raise for setting up three new plants.

• The company is looking at import substitute products.

• Its domestic business is likely to grow at 20–22% in financial year 2024-25.

Source: Himanshu Baid, MD, Poly Medicure to NDTV Profit

Shares of Jain Irrigation Systems Ltd. jumped over 7.11% to Rs 71.40 apiece on Friday after it signed a memorandum of understanding with the Indian Coffee Board to supply disease resistant coffee plants to growers.

Shares of Ambuja Cements advanced as much as 4.7% to Rs 660 apiece before cooling off to trade 3% higher at Rs 651 by 9:24 a.m. The benchmark NSE Nifty 50 was trading 0.11% higher.

The stock has risen 43% in the last 12 months and 22% on a year-to-date basis. The total traded volume so far in the day stood at 115 times its 30-day average. The relative strength index was 51.

Twenty-two out of the 40 analysts tracking Ambuja Cements have a 'buy' rating on the stock, 10 recommend a 'hold' and eight suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 5.9%.

Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.

India's benchmarks opened higher on Friday tracking gains in Reliance Industries Ltd., and Bharti Airtel Ltd. as investors eagerly await the US Federal Reserve Jerome Powell's speech at Jackson Hole summit, later today.

As of 09:17 a.m., the NSE Nifty 50 was 8.05 points or 0.03% lower at 24,803.45, and the BSE Sensex was 54.90 points or 0.07% lower at 80,998.29.

"The strategy should be to buy between 24750 and 24650 levels and keep a stop loss at 24600 for the same," said Shrikant Chouhan, head, equity research, Kotak Securities.

Now, market participants are seeing 50% probability of 50-basis points rate cut in the US, which is impacting the sell off in dollar Peter Mcguire, CEO, XM Australia said in an interview to NDTV Profit. They will analysing every sentence of what Powell says tonight.

Reliance Industries Ltd., Tata Motors Ltd., Bajaj Auto Ltd., Sun Pharmaceutical Industries Ltd., and Hindustan Unilever Ltd. added to the index.

HDFC Bank Ltd., Infosys Ltd., NTCP Ltd., ICICI Bank Ltd., and Larsen & Toubro Ltd. weighed on the index.

On NSE, five sectors declined, four advanced, and three remained flat out of 12. The NSE Nifty Auto led the gains, and the NSE Nifty IT declined the most.

Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.26% and 0.24% higher, respectively.

On BSE, 18 sectors advanced, and two declined out of 20. The BSE Auto rose the most, and the BSE IT declined the most.

Market breadth was skewed in favour of buyers. Around 1,954 stocks advanced, 988 stocks declined, and 127 stocks remained unchanged on BSE.

At pre-open, the NSE Nifty 50 was 33.90 points or 0.14% higher at 24,845.40, and the Sensex was 0.14% higher at 81,165.53.

• The yield on the 10-year bond opened flat at 6.85%.

Source: Cogencis

• The local currency opened 2 paise higher at 83.93 against the US Dollar on Friday.

• It closed at 83.95 a dollar on Thursday.

Source: Cogencis

• Ambuja Cement Ltd.'s 4.2 crore shares change hands in multiple pre-market large trades.

Source: Bloomberg

• JSW Energy Ltd. received a letter of award from NTPC Ltd. for setting up 300 megawatt hybrid power project.

Source: Exchange filing

Initiates coverage on

• Star Health with Hold with a target price Rs 550, which implied a 10% downside.

• Go Digit General Insurance Ltd. with Buy, and set the target price Rs 420, which implied a 24% upside.

• Retains Buy on ICICI Lombard General Insurance Co., with a target price Rs 2,600, which implied a 25% upside.

• Large private insurers set to gain from multi-year upcycle in motor (35%) led by premiumisation

• Health can see pressure in retail segment from rising claims frequency

• ICICI Lombard General Insurance Ltd. is the biggest beneficiary on motor

• PB Fintech top pick

• Pan India: Spot prices up by INR17/bag (5%) vs August start

• Average QTD prices still down INR14/bag vs 1QFY25 average

• Southern region: Prices hiked by INR25/bag amid market share tussle; absorption a concern

• Central region: Dealers expect INR22/bag price hike in coming days

• Northern region: Trade prices hiked by INR17/bag vs August-start

• Eastern region: Trade prices increased by INR16/bag, up 5.5% and 3% vs Aug-start

• Western region: Prices improve slightly by INR4/bag

• Quarter to Date

• Dalmia Bharat Ltd. is to acquire additional 7.31% stake in O2 Renewable for Rs 3.15 crore.

Source: Exchange filing

• UBS Global Research retained a 'Buy' with a target price Rs 3,200 up from 3,000 earlier which implied a 18% upside.

• New Jupiter is a significant upgrade from older models and peers at similar price

• Launched back in 2013 and led to significant turnaround for TVS

• Believe many of the features cannot be replicated by the competitors in near to medium term

• New model can aid 15-20K additional volumes growth

• Raise Domestic volume forecast at 14% vs 11% earlier

• Model in 80 bps positive PLI impact on margins

• Brand new EV and foray in E-3W over next few months further catalyst

• Ecos India Mobility And Hospitality Ltd. set IPO price band at Rs 318-334 per share.

Source: Company statement

• Ola's market share slipped from 49% in June quarter to 33%

• While it still remains 1 player, TVS and Bajaj gained 4-7% market share

• Current market share for TVS at 19% vs 15% in Q125, while Bajaj now has 18% share vs 12%

• Electric bike launch positive, currently motorcycles form 63% of volumes

• TVS I-Qube now available in 5 variants, looking to launch another scooter in next 6 months

• Hero plans to launch affordable electric scooters in FY25

• Expect E2W market share to rise to 13% by FY27 vs 5.4% now

• Within autos, TVS Motors and M&M remain top picks

• The Citi Research retained a 'Buy' raised the target price to Rs 300 from Rs 280, which implied a 16% upside.

• Acquisition of Paytm ticketing business is moderately positive

• Zomato is likely to benefit from the over 1 crore users of Paytm ticketing business

• The company will focus on gaining segment market share

• Zomato has strong track record

• Citi Research retained a 'sell', and hiked target price to Rs 440, which implied a 23% downside. The early target price was Rs 410.

• Sale of business to Zomato valued at Rs 30 per share in cash as positive

• Shift to pure distribution business for payments and financial services is a positive

• Watch for resolution of regulatory bottlenecks

• Value Co at an unchanged 30x FY26E EV to Adj. EBITDA

• Citi Research maintained a 'sell' with a target price Rs 2,700, which implied a 18% downside.

Management Meet:

• Improvement in mix to drive realisations

• Deeper penetration, geographical expansion to drive volume growth

• Competition remains high, irrationality has come down

• Margins may remain stable

• Renewed focus on international markets

• Pharma index is up 11% since May

• Pharma index at 44% premium to Nifty, avg us 31% premium

• Strong Q1FY25 performance

• Strong commentary by Lupin and Zydus on the back of launches

• Forecasts raised for Lupin, Natco Pharma, Zydus, Glenmark Pharma; Biocon earning cut

• U.S. Dollar Index at 101.32

• U.S. 10-year bond yield at 3.84%

• Brent crude up 0.05% at $77.26 per barrel

• Nymex crude up 0.08% at $73.07 per barrel 

• Bitcoin was up 0.18% at $60,729.16

• The GIFT Nifty was trading 25.50 points or 0.10% higher at 24,842.50 as of 07:39 a.m.

The Indian rupee weakened against the US dollar on Thursday, amid continued demand for the greenback from importers, even as US Fed meeting minutes increased bids for a rate cut in September.

The local currency depreciated 2 paise at Rs 83.95 after opening at Rs 83.94 per dollar, according to Bloomberg data. It had closed at Rs 83.93 on Wednesday.

• Nifty August futures up by 0.17% to 24,840 at a premium of 29 points.

• Nifty August futures open interest down by 1.5%.

• Nifty Bank August futures up by 0.45% to 51,037 at a premium of 52 points.

• Nifty Bank August futures open interest down by 2.85%.

• 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 51,000 and maximum put open interest at 51,000.

• Securities in ban period: Aarti Industries, Aditya Birla Fashion, Balrampur Chini Mills, Birlasoft, Gujarat Narmada Valley Fertilizers & Chemicals, Granules India, Hindustan copper, India Cements, LIC Housing Finance, National Aluminium, PEL and Sun TV Network.

• Ex/record dividend: Godfrey Phillips India, IRCTC, Kfin Technologies, LIC Housing Finance, Vedant Fashions, Max Healthcare Institute, Mayur Uniquoters, Natco Pharma, ONGC, The Federal Bank, ABB India, Astra Microwave Products, Bhageria Industries, Gandhar Oil Refinery (India), Dynacons Systems & Solutions, Kuantum Papers.

• Ex/record AGM: Godfrey Phillips India, IRCTC, LIC Housing Finance, Vedant Fashions, Mayur Uniquoters, Ramkrishna Forgings, Federal Bank, Venky's (India), IRFC, Astra Microwave Products, Bhageria Industries, Kuantum Papers.

• Ex/record Bonus Issue: CDSL (1:1).

• Ex/record Buy Back: Mayur Uniquoters.

• Moved into short term ASM Framework: Nelco, Nucleus Software Exports, Ola Electric Mobility and Rane (Madras).

• Moved out of short term ASM Framework: Heranba Industries, PC Jeweller, Supriya Lifescience and Venky's (India).

• Usha Martin: Promoter Rajeev Jhawar bought 30,000 shares on Aug. 20. Promoter Peterhouse Investments India Ltd. sold 2 lakh shares on Aug. 20.

• PNB Housing Finance:  Asia Opportunities V (Mauritius) Ltd. sold 78 lakh shares (3%) at Rs 866.7 apiece, while Government of Singapore bought 16.59 lakh shares (0.63%) at Rs 866.05 apiece.

• Ethos: Mahen Distribution Ltd. sold 1.31 lakh shares (0.56%) at Rs 3,151.04 apiece

• Shriram Properties: BNP Paribas Financial Markets bought 8.53 lakh shares (0.5%) at Rs 126.85 apiece

• Alkem Laboratories: Samprada & Nanhamati Singh Family Trust sold 8.5 lakh shares (0.71%) at Rs 5,732.15 apiece, while ICICI Prudential Life Insurance Co. bought 1.97 lakh shares (0.16%) at Rs 5,732.15 apiece. Morgan Stanley Asia Singapore Pte-Odi bought 0.98 lakh shares (0.08%) at Rs 5,732.15 apiece, while Tata Mutual Fund bought 0.87 lakh shares (0.07%) at Rs 5,732.15 apiece, among others.

• Eris Lifesciences: Emerald Investments Ltd. sold 98.86 lakh shares (7.26%) at Rs 1,201 apiece. Infinity Partners bought 98.86 lakh shares (7.26%) at Rs 1,201 apiece.

• Kalyan Jewellers India: Highdell Investment sold 6.64 crore shares (6.45%) at Rs 539.1 apiece, while Nomura India, through its various funds, bought 2.06 crore shares (2%) at Rs 539.1 apiece. Motilal Oswal Mutual Fund bought 92.74 lakh shares (0.9%) at Rs 539.1 apiece, while TCSL As Truste For Global New Generation Stock Fund bought 74.19 lakh shares (0.72%) at Rs 539.1 apiece. Government Of Singapore bought 72.51 lakh shares (0.7%) at Rs 539.1 apiece, among others.

• NIIT: Hornbill Orchid India Fund sold 35.38 lakh shares (2.62%) at Rs 118 apiece, while Pawar Family Trust bought 17.69 lakh shares (1.31%) at Rs 118 apiece. Thadani Family Trust bought 17.69 lakh shares (1.31%) at Rs 118 apiece.

• Orient Technologies: The public issue was subscribed to 16.96 times on day 2. The bids were led by qualified institutional investors (0.16 times), non-institutional investors (20.97 times) and retail investors (24.49 times).

• Zomato: The company will shut down its 'Zomato Legends', as it was unable to find product market fit.

• Adani Power: NCLT has approved company’s resolution plan to buy Lanco Amarkantak Power for Rs 4,101 crore.

• Ambuja Cements: Adani's family plans to divest $500 million worth of shares or 2.84% stake in company. The value of the deal is Rs 4,197.8 crore at the floor price of Rs 600 per share, according to the terms of deal viewed by NDTV Profit.

• FSN E-Commerce Ventures: Harindarpal Singh Banga and Indra Banga offered to sell as much as 4.09 crore shares, or 1.4% stake in the company via block deal. The floor price was set at Rs 198.

• Shriram Finance: The company has approved the sale of its entire stake in Shriram Housing Finance to Mango Crest Investment, an affiliate of Warburg Pincus.

• Wipro: The company extended its pact with John Lewis Partnership to complete their cloud transformation project.

• Jain Irrigation Systems: The company has signed an MoU with Indian coffee board for commercial release of disease-resistant coffee plants to growers.

• Bharat Forge: The company will invest an additional Rs 105 crore in unit Kalyani Power Train via share subscription.

• Power Mech Projects: The company will issue bonus shares in the ratio of 1:1. It has set Sept. 28 as the record date for determining the eligible shareholders.

Asian indices were mixed in early trade. Japan's Nikkei was 0.11% higher after the country's headline inflation was unchanged in July. South Korea's Kospi and S&P ASX 200 were trading 0.4% lower each as of 6:30 a.m.

Investors now await the Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole summit.

In the US, stocks declined and bond yields increased as traders anticipated Jerome Powell’s speech on Friday. There are expectations that he may suggest a potential rate cut, though likely at a slow and steady pace, reported Bloomberg.

The S&P 500 Index closed 0.89% lower, Nasdaq Composite fell by 1.67%, and Dow Jones Industrial Average ended 0.4% lower.

Brent crude was trading 0.13% higher at $77.32 a barrel as of 6:34 a.m. Gold was up by 0.2% at $2,489.45 an ounce.

The GIFT Nifty traded flat at 24,824.00 as of 6:34 a.m.

The benchmark equity indices pared some of their morning gains but still managed to close higher on Thursday, with the NSE Nifty 50 recording its best streak since the six sessions that ended on May 23.

The NSE Nifty 50 closed 41.30 points, or 0.17%, higher at 24,811.50, while the S&P BSE Sensex ended 147.89 points, or 0.18%, up at 81,053.19. Both indices recorded their highest closing since Aug. 1.

Overseas investors turned net buyers of Indian equities on Thursday after three straight sessions of selling. Foreign portfolio investors bought stocks worth Rs 1,371.8 crore, domestic institutional investors stayed net buyers for the 14th session and bought equities worth Rs 2,971.8 crore, the NSE data showed.

Rupee weakened by 2 paise to close at 83.95 against the US dollar.

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.