Stock Market Today: Sensex, Nifty End At A Record High For Fifth Day Led By RIL, ITC, Bajaj Finance
Sensex closed up 302 points or 0.45% at 67,097.44 while Nifty was 84 points or 0.42% higher at 19,833.15.
KEY HIGHLIGHTS
FPIs Remain Net Buyers
Overseas investors in Indian equities remained net buyers for the fifth day in a row on Wednesday.
Foreign portfolio investors bought stocks worth Rs 1,165.5 crore, according to data from the National Stock Exchange.
Domestic institutional investors remained net sellers and offloaded stocks worth Rs 2,134.5 crore, the NSE data showed. That's the highest level of selling since July 7.
Foreign institutions have net bought Rs 36,971 crore worth of equities so far in July. They have been net buyers of Rs 1,13,378 crore worth of Indian equities in 2023, 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 ended flat at 7.07% on Wednesday. It closed at 7.06% on Tuesday.
Source: Bloomberg
Markets At Close
Benchmark Indices end at record closing high.
Nifty, Sensex advance for 5 days in a row.
RIL top contributor to Sensex, Nifty gains today.
Bajaj Finance, IndusInd Bank & UltraTech Cement top Nifty gainers.
Rupee Weakens Against The U.S. Dollar
The local currency weakened about 6 paise to close at Rs 82.10 against the U.S dollar on Wednesday.
Rupee closed at 82.03 on Tuesday.
Source: Bloomberg
Sensex, Nifty Log Record Gains For The Fifth Day As ITC, Bajaj Finance, RIL Lead: Market Wrap
India's benchmark stock indices logged fresh record highs in early trade before paring gains at midday and advancing to end record closing levels on Wednesday. Intraday, the Sensex rose 0.56% to scale a new high at 67,171.38 points and Nifty 50 jumped 0.52% to hit record high at 19,851.70 points.
Consumer durables and PSU banking sectors advanced the most, while I.T. and auto were under pressure. NTPC Ltd., and Bajaj Finance Ltd. led, whereas ICICI Bank Ltd., and TCS Ltd. were dragging the indices.
Stocks in the U.K. and Europe advanced. Rate-sensitive real estate stocks led gains in Europe’s Stoxx 600 index, with U.K. homebuilders surging the most since 2008 on optimism about less-aggressive hikes. The U.K. Consumer Prices Index was 7.9% higher than a year ago in June, a sharp drop from the 8.7% reading in May.
U.S. futures were flat after Wall Street stocks closed near session highs on Tuesday, as earnings results from Bank of America Corp. and Morgan Stanley bolstered banking shares on Tuesday. In Asia, shares in Hong Kong and mainland China were the worst performers on Wednesday.
The S&P BSE Sensex Index closed up 302 points or 0.45% at 67,097.44 while the NSE Nifty 50 Index was 84 points or 0.42% higher at 19,833.15.
Reliance Industries Ltd., ITC Ltd., HDFC Bank Ltd., Bajaj Finance Ltd., and State Bank of India were the positively adding to the change in the Nifty 50 Index.
Whereas, TCS Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., Hindustan Unilever Ltd., and Hindalco Industries Ltd. were negatively contributing to the change.
The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 0.63%, whereas S&P BSE SmallCap Index was 0.61% higher.
Nineteen out of the 20 sectors compiled by BSE advanced except S&P BSE Teck. S&P BSE Utilities rose the most.
The market breadth was skewed in the favour of buyers. About 2,003 stocks rose, 1,409 declined, while 125 remained unchanged on the BSE.
