Stock Market Today: Nifty Closes At Record High After Two-Day Fall

-The local currency closed 2 paise higher against the U.S. Dollar at 83.55.

-It closed at 83.57 on Tuesday.

Source: Cogencis

Benchmark equity indices came out of their two-day fall and closed higher on Wednesday led by shares of heavyweights. The Nifty 50 closed at their highest ever level.

Market players now await key inflation data of India and US along with the US Federal Reserve's decision on interest rates.

The Nifty closed at 23,322,95, up by 58.10 points or 0.25% and the Sensex closed at 76,606.57, higher by 149.98 points or 0.2%. Intraday, the Nifty refreshed its lifetime high to 23,441.95.

Shares of HDFC Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Power Grid Corp. Of India Ltd., and Coal India Ltd. contributed the most to the gains.

While those of Mahindra & Mahindra Ltd., Infosys Ltd., Hindustan Unilever Ltd., Tata Consultancy Services Ltd., and Axis Bank Ltd. weighed on the Nifty.

Most sectoral indices ended higher with Nifty Media gaining the most. Nifty FMCG was the top loser.

Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices ended 1.07% and 1.06%, respectively.

On BSE, 18 sectors advanced and two declined out of 20. The S&P BSE Industrial rose the most among other sectors, while the S&P BSE FMCG declined the most.

Market breadth was skewed in favour of buyers. Around 2,550 stocks advanced, 1,336 stocks declined, and 105 stocks remained unchanged on BSE.

• SpiceJet discontinued flights from Hyderabad to Ayodhya.

• The flight is discontinue two months after launching it.

Source: NDTV

• DCB Bank Ltd. has approved the appointment of Krishnan Seshadri as executive director for two years with effect from Thursday.

Source: Exchange filing

Shares of Camlin Fine Sciences Ltd. surged nearly 10% on Wednesday after its Mexico-based subsidiary, Dresen Quimica, acquired Vitafor, a Belgium-based animal feed company.

The subsidiary acquired a 100% stake in Vitafor for a consideration of €1, according to an exchange filing.

Shares of the company rose over 9.7% to Rs 113.33 apiece before paring gains to trade 6.32% higher at Rs 110.65 apiece as of 12:04 p.m. This compares to a 0.66% rise in the NSE Nifty 50.

The stock has dropped 18.17% year-to-date and 51.77% in the last 12 months. Total traded volume so far today stood at 6.98 times its 30-day average. The relative strength index was at 67.19%.

Of the four analysts tracking the company, three maintain a 'buy' rating and one suggests a 'hold' rating, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 10.9%.

India's benchmark indices were trading higher through midday on Wednesday, led by gains in index heavyweights HDFC Bank Ltd., Reliance Industries Ltd., and Bharti Airtel Ltd.

At 12:33 p.m., the NSE Nifty 50 rose 149.00 points, or 0.64%, to trade at 23,413.85, and the S&P BSE Sensex gained 436.79 points, or 0.57%, to trade at 76,893.38. The Nifty hit a fresh record high of 23,441.95, and the S&P BSE Sensex rose 0.78% to 77,050.53 so far in the day.

Market participants eagerly anticipate the release of the US Federal Reserve's policy meeting and inflation print later today.

JM Financial is looking at Nifty crossing the 23,500–23,700 levels in the next seven sessions. Traders can stay long in the NSE Nifty 50 till the 23,000 is held, which is the broader support level, said Akshay P Bhagwat, senior vice president, JM Financial.

The last couple of days have been pretty quiet for the NSE Nifty 50 index. Considering the huge degree of volatility of daily trading over 1,000 points, which we noted last week, the NSE Nifty was taking a momentum break. Slowly, the momentum is picking up, Bhagwat said. The volatility index has shifted below the 15 mark, so normalcy is back in the system.

HDFC Bank Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., Larsen & Toubro Ltd., and ICICI Bank Ltd. supported the benchmark's upward movement.

Hindustan Unilever Ltd., Asian Paints Ltd., Titan Co. Mahindra & Mahindra Ltd., and Britannia Industries Ltd limited gains in the index.

On NSE, 10 sectors rose and two decline out of 12. The NSE Nifty Media was the top performing sector, and the NSE Nifty Realty was the worst performing sector.

Broader markets outperformed benchmark indices. The S&P BSE Midcap rose 1.05% and the S&P BSE Smallcap gained 1.00%.

Out of 20 sectors BSE compiles, 18 sectors advanced, and two declined. The S&P BSE Capital Goods emerged as the best performing sector. The S&P BSE Realty declined the most among peers.

Market breadth skewed in favour of buyers. Around 2,616 stocks rose, 1,102 stocks, and 128 stocks remained unchanged.

The NSE Nifty Midcap 150 rose 1.06% to 20,332.15, the highest level since its inception on April 1, 2016. It was trading 0.91% higher at 20,300.45 as of 12:53 p.m., as compared to 0.58% advance in the NSE Nifty 50 index.

• Tata Communication Ltd. is in 5-year host broadcasting services pact with World Athletics.

• The company is to provide global host broadcasting services to cover events, including World Championships in Tokyo in 2025.

Source: Exchange filing

• Brigade Enterprises Ltd. launched new project of Rs 1,800 crore GDV in Chennai's Mount Road.

• The real-estate company has planned an investment of over Rs 8,000 crore in Chennai by 2030.

Source: Exchange filing

Shares of Heritage Foods hit a 5% lower circuit and fell to 627.30, the lowest level since June 7. The stock has been in downward trajectory since June 5.

Chandrababu Naidu has sworn in as Andhra Pradesh chief minister on Wednesday. Prime Minister Narendra Modi and Home Minister Amit Shah present in the oath taking ceremony.

The scrip fell as much as 5% to Rs 627.30 apiece and is locked in at its lower circuit, the lowest level since June 7. It pared losses to trade 5% lower at Rs 627.30 apiece, as of 12:14 p.m. This compares to a 0.62% advance in the NSE Nifty 50 Index.

It has risen 106.82% on a year-to-date basis, and has risen 417.05% in the last twelve months, as per NSE data. Total traded volume so far in the day stood at 0.74 times its 30-day average. The relative strength index was at 76.35, indicating that the stock has been overbought.

Out of 4 analysts tracking the company, 4 maintain a 'buy' rating according to Bloomberg data. The average 12-month consensus price target implies an downside of 29.3%.

Shares of Kronox Lab Science hit a 5% lower circuit and fell to Rs 143.78, the lowest level since its listing on Jun 12. It remained locked in the lower circuit as of 12:02 p.m. as compared to 0.69% advance in the NSE Nifty 50 index.

• AGS Transact Technologies Ltd. has started deployment of over Rs 1,350 ATMs for State Bank of India.

Source: Exchange filing

Bharti Airtel Ltd. rose as much as 1.38% to Rs 1446.95 apiece as shares hit a record high. It pared gains to trade 1.35% higher at Rs 1446.60 apiece, as of 10:37 a.m. This compares to a 0.63% advance in the NSE Nifty 50 Index.

It has risen 39.95% on a year-to-date basis, and has risen 565.85% in the last twelve months, according to data from the NSE. Total traded volume so far in the day stood at 0.15 times its 30-day average. The relative strength index was at 67.34.

Out of 33 analysts tracking the company, 24 maintain a 'buy' rating, 7 recommend a 'hold,' and 2 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 1.7%.

Shares of Hero MotoCorp Ltd. rose as much as 1.09% during the day to Rs 5849.90 apiece on the NSE. It was trading 0.35% higher at Rs 5803.75 apiece, compared to a 0.75% advance in the benchmark NSE Nifty 50 as of 10:46 a.m.

It has risen 98.16% in the last 12 months. The relative strength index was at 77.78 indicating that it may be overbought. The total traded volume on NSE so far in the day stood at 0.25 times its 30-day average.

28 out of the 42 analysts tracking Hero MotoCorp have a 'buy' rating on the stock, seven recommend a 'hold' and seven suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 13.7%.

Two brokerages have tagged Ultratech Cement as their 'top pick' among the sector as they reviewed the sector's performance in the quarter ended March.

The scrip rose as much as 8.67% to 726 apiece, the highest level since Oct. 23, 2008. It pared gains to trade 3.44% lower at Rs 691 apiece, as of 11:35 a.m. This compares to a 0.04% advance in the NSE Nifty 50 Index.

It has risen 45.48% on a year-to-date basis. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 55.

Out of the 22 analysts tracking the company, 19 maintain a 'buy' rating, three recommend a 'hold,' and none suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 16.6%.

Shares of HCL Technologies Ltd. rose to the highest level since April 26 after the company informed it has expanded partnership with a Tokyo-based medical technology platform Olympus and German-based apoBank.

Shares of TVS Supply Chain Solutions recorded their best jump in nearly two months as the company announced a new 5-year strategic contract with a subsidiary of Daimler Truck, Daimler Truck South East Asia Pte Ltd.z

The contract is for integrated supply chain solutions service in Singapore, an exchange filing by the company said.

It added that Daimler Truck South East Asia conducted a thorough evaluation process before awarding TVS Supply Chain with the opportunity to provide these new services.

• Rites Ltd. has signed a MoU with Eastern Railway's Andal Diesel Shed for loco maintenance.

Source: Exchange filing

The NSE Nifty Auto index rose 0.70% to a record high of 25,342.20 as Tata Motors Ltd. and Bharat Forge Ltd. gained.

The NSE Nifty 50 rose 0.67% to record high of 23,417.65 tracking gains in shares of heavyweight HDFC Bank Ltd., ICICI Bank Ltd.

• First session of 18th Lok Sabha is to begin on June 24.

Source: Parliamentary Affairs Minister Kiren Rijiju

Nirmala Sitharaman has set a record today as the first woman to be sworn in as minister for the third consecutive term of the Modi government.

India's benchmark indices opened higher on Wednesday tracking gains in shares of HDFC Bank Ltd., HCL Technologies Ltd gained.

As of 09:17 a.m., the NSE Nifty 50 was 50.85 points or 0.22% higher at 23,315.70, and the S&P BSE Sensex was 155.58 points or 0.20% up at 76,612.17.

The NSE Nifty 50 has closed in an inside range and an either side breakout could be expected from current levels , on the downside the support is placed at 23,050 levels, said Vikas Jain, senior research analyst at Reliance Securities.

Shares of HDFC Bank Ltd., Infosys Ltd., HCL Tech Ltd., Tata Consultancy Services Ltd., and Tech Mahindra Ltd. contributed the most to the gains.

While those of ICICI Bank Ltd., Larsen & Toubro Ltd., Asian Paints Ltd., Axis Bank Ltd., and Hindustan Unilever capped the upside.

Except Nifty Realty, all sectoral indices on the NSE opened higher. Nifty IT and Nifty Media were the top gainers.

The market breadth was skewed in the favour of buyers. Around 2,339 stocks rose, 664 declined, and 99 remained unchanged on the BSE.

Broader markets outperformed. The S&P BSE Midcap rose 0.74% and the S&P BSE Smallcap was 0.78% higher.

Except the BSE's FMCG index and consumer durables index, all eighteen sectoral indices on the BSE rose.

At pre-open, the NSE Nifty 50 was 79.60 points or 0.34% higher at 23,344.45, and the S&P BSE Sensex was 0.29% or 222.52 points higher at 76,679.11.

• The yield on the 10-year bond opened flat at 7.01%.

Source: Cogencis

• The local currency opened 3 paise higher against the U.S. Dollar at 83.54.

• It closed at 83.57 on Tuesday.

• This is the lowest opening level since April 19.

Source: Cogencis

• Expect policy initiatives to continue leading to sustained growth momentum

• Focused themes include defense manufacturing, electrification, mobility and industrial efficiency

• Expect 19%/18%/18% CAGR in order/topline/EBITDA across coverage universe over FY24-28E

• Peak industrial valuations leave little room for disappointment on order growth/margings

• Top pick pecking order: CG Power, HAL, ABB

• The brokerage upgraded the stock to 'Add' from 'Reduce' with a target price Rs 1,050 from 950. The stock implied an 6% upside.

• Domestic commercial vehicle industry has absorbed various past disturbances with growth outlook improving on favorable macros.

• The company expects 4-5% industry volume CAGR over FY24-29

• The company is to improve revenue leadership with strong double-digit margin and healthy FCF

• The company aims to grow 2 times of underlying passenger vehicle industry on new nameplates in ICE, CNG, and electric vehicles

• Expansion in addressable market is likely to 80% by FY30 vs 53% now

• Electric vehicle is to form 30% of the portfolio by FY30.

• Targets profitability improvement, with double-digit margin in the combined PV and EV business by FY30

• Versus double-digit in ICE and below breakeven in electric vehicles now

• Retain Reduce with a target price Rs 940, which implied a downside of 4%

• CV volumes shall witness moderation in FY25, can grow in medium term

• PV volumes to grow in single digits in FY25.

• CV EBITDA margins to stay in double digits, PV margins to rise from 7% in FY24 to 10%-plus by FY30

• CV business FCF expected at 6–8% of revenue over the next few years, and PV business FCF to turn positive by FY30

• Slightly raising FY25E EBITDA by 2%, factoring in better realisation/margins,

• FY26E EBITDA stays unchanged

• Building in moderate revenue/EBITDA CAGR of 9%/13% over FY24–26E vs 21%/25% over FY21–24

• Govt, in cabinet meeting, decided to further expand PM Awas Yojana

• Detailed nuances not yet announced

• Split between PMAY- Urban and Grameen relevant to be understood

• PMAY expansion scheme would boost the supply of affordable housing

• Home First participation was active under PMAY-Credit Linked Subsidy Scheme

• PMAY CLSS benefits 35-40% of Home First customer base

• Subsidy extension critical to improve financing demand visibility

• Home First helped 38.5k customers to claim PMAY subsidy and PMAY subsidy of Rs9.7bn

• Aavas Financiers has received subsidy of Rs2.85bn with 13,500 beneficiaries

• India Shelter has facilitated CLSS subsidy of Rs 47.3 crore to 2,100 beneficiaries

• HCL Technologies Ltd. expanded an engineering research and development partnership with medical technology company Olympus Corp

• The company announced dedicated center in Hyderabad to support Olympus’ operations across US, Europe, Middle East and Africa.

Source: Exchange filing

• The brokerage maintained a 'Overweight' on the stock with a target price Rs. 1,650. The price implied an upside of 15.5%.

• HCL Technologies Ltd. has expanded its relationship with Deutsche Apotheker, Germany’s largest cooperative primary bank.

• The total estimated total contract value for this deal would be US$278 million over 7.5 years

• This implies an annual contract value of $37 million

• The company has been working with this client since 2021 providing application services.

• This should result in expansion in the relationship into infrastructure and cloud services and services around Avaloq implementation

• We see this announcement as signifying two things:

• A) continuing large deal win momentum in financial services vertical in F1Q25; and

• B) significant expansion of an existing client relationship beyond just application to cloud and infrastructure services.

• There is absence of any signs of a pick up in discretionary spending,

• But believes announcements of large deals provide incremental comfort on the ability of a company to achieve full-year revenue guidance.

• Inclusion to benefit entire gas value chain from lower tax rates

• Key upside: Faster adoption of gas in India's primary energy

• Believe oil exploration and production companies to be the biggest beneficiaries

• Estimate 5% upside to ONGC's standalone earnings

• Expect 3-4% upside for Oil India as investments/cost on gas production are compensated.

• Expect IGL and Gujarat Gas to benefit from volume upside

• Higher gas consumption, lower import costs to benefit GAIL (India), Petronet LNG

• Systematix initiated coverage on Krsnaa Diagnostics with a 'Buy' rating and target price Rs 841. The target price implied of 40% upside.

• Lower costs, higher volumes to more than offset the limited pricing in PPP model

• Weak return profile but strong underlying fundamentals

• Finding avenues to optimize risks, costs and revenue

• Targeting a larger market than peers – Growth momentum to sustain

• Expect ROCE to normalise at 15-20%

• Value Co at 22x FY26E EPS

• Maintain BUY on ACC, Grasim Industries, Shree Cement, Dalmia Bharat

• Maintain NEUTRAL on Ambuja Cement

• Maintain Sell on Ramco Cement, Nuvuco Vistas Corp, JK Cement

• Expect 146 MT of clinker backed incremental supply during FY23-27

• ACC, Ambuja, UltraTech, Shree Cement, Dalmia Bharat to account for 75% of incremental supply

• Believe trend of market share priority over pricing will continue

• Expect avg Q1 realizations in the range of -4% to +1%

• Expect cement pricing trajectory to remain muted

• Channel checks suggest price hikes of Rs 8-10 per bag across regions

• Expect cement volume to have grown MoM in May vs muted April

• Volume growth of 5-6% MoM in May vs April

• Domestic petcoke prices have declined 6% MoM

• Expect demand momentum to improve

• Preferred picks: Ultratech Cement, JK Cement, Dalmia Bharat

• U.S. Dollar Index at 105.27

• U.S. 10-year bond yield at 4.40%

• Brent crude up 0.31% at $82.17 per barrel

• Nymex crude up 0.45% at $78.25 per barrel 

• Bitcoin was down 0.23% at $67,122.63

• The GIFT Nifty was trading 16 points or 0.1% down at 23,306.50 as of 7:30 a.m.

The Indian currency weakened by 7 paise to 83.57 against the US dollar.

• Nifty June futures up by 0.28% to 23,309 at a premium of 45 points.

• Nifty June futures open interest up by 0.17%.

• Nifty Bank June futures up by 0.01% to 49,768 at a premium of 63 points.

• Nifty Bank June futures open interest up by 0.7%.

• Nifty Options June 13 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 22,500.

• Bank Nifty Options June 12 Expiry: Maximum call open interest at 51,000 and maximum put open interest at 48,000.

• Securities in ban period: Balrampurchini Mills, GMR Infra, Hindustan Copper, India Cements, SAIL, Zee Entertainment Enterprises.

• SBI - Ruling The Roost; Motilal Oswal Reiterates Buy With A Revised Target Price Of Rs 1,015

• Coal India - Volume Momentum To Persist; Retaining A Buy: Anand Rathi

• Zensar Technologies - Margin Expansion In FY24; Revenue Growth Focus For FY25: Systematix

• Life Insurance - ICICI Prudential Life Seeing Sustained Momentum In May; Group Volume Tepid: Nirmal Bang

• Logistics Sector Check - Ocean Freight Rates Heading To Record Highs: Prabhudas Lilladher

• Mphasis: Promoter BCP Topco Ix sold 2.85 crore shares on June 10.

• Lancer Container Lines: Promoter Abdul Khalik Abdul Kadar Chataiwala bought 1.16 lakh shares on June 10.

• Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes Pvt. sold 55,009 shares on June 7.

• Sterling and Wilson Renewable Energy: Promoter Kainaz Khurshed Daruvala created a pledge for 2.8 lakh shares on June 7.

• Goodluck India: Promoter Anju Garg created a pledge for 1 lakh shares; Promoter Harsh Garg created a pledge for 68,000 shares; Promoter Mithlesh Garg created a pledge for 80,000 shares; Promoter Ram Agarwal created a pledge for 80,000 shares; Promoter Rekha Rani created a pledge for 1 lakh shares; and Promoter Shyam Agrawal created a pledge for 80,000 shares on June 10.

• Price Band revised from 10% to 5%: Andhra Cements, GTL Infrastructure.

• Price Band revised from 20% to 10%: Essar Shipping, IFB Industries.

• Ex/record Dividend: Tata Chemicals.

• Moved out short-term Framework: Pending.

• CG Power and Industrial Solutions: To meet analysts and investors on June 13.

• Star Health and Allied Insurance: To meet analysts and investors on June 14.

• ASK Automotive: To meet analysts and investors on June 18.

• Jindal Saw: To meet analysts and investors on June 14.

• Container Corp.: To meet analysts and investors on June 18–20 and 26–28.

• Data Patterns: To meet analysts and investors on June 21.

• Le Travenues Technology: The public issue was subscribed to 9.33 times on day 2. The bids were led by institutional investors (0.79 times), non-institutional investors (20.14 times), and retail investors (18.73 times).

• Inox Wind Energy: Anjana Projects sold 0.4 lakh shares (0.33%) at Rs 7,169 apiece, and India Opportunities Growth Fund Pinewood Strategy bought 0.4 lakh shares (0.33%) at Rs 7,169 apiece.

• InterGlobe Aviation: Interglobe Enterprises sold 77.19 lakh shares (1.99%) at Rs 4,362.04 apiece, and Citigroup Global Markets Mauritius bought 31.23 lakh shares (0.8%) at Rs 4,361 apiece.

• Action Construction Equipment: Mona Agarwal sold 13 lakh shares (1.09%) at Rs 1420.44 apiece.

• Honasa Consumer: Fireside Ventures Investment Fund I sold 32,42,441 shares (0.99%) at Rs 436 apiece, while Sofina Ventures Sa sold 32,42,442 shares (0.99%) at Rs 435 apiece.

• IRB Infrastructure Developers: Cintra INR Investments BV sold 9.05 crore shares (1.5%) at Rs 64.02 apiece, while Cintra INR Investments BV sold 21.13 crore shares (3.5%) at Rs 63.43 apiece.

• Wardwizard Innovations and Mobility: Wardwizard Solutions India sold 42.12 lakh shares (1.61%) at Rs 72.51 apiece.

• TCNS Clothing: TA FDI Investors sold 12 lakh shares (1.89%) at Rs 550.14 apiece, while Rajasthan Global Securities bought 3.22 lakh shares (0.51%) at Rs 550.05 apiece.

• HCL Tech: The company signed a $278 million deal with Germany's largest cooperative primary bank, ApoBank, for 7.5 years.

• TCS: The company launched a new IoT engineering lab in Ohio for manufacturing, energy, and consumer solutions.

• B.L. Kashyap and Sons: The company secured two new orders aggregating to Rs 1,021 crore. These include a construction order worth Rs 924 crore from DLF City and a civil construction order worth Rs 97 crore from Sattva Homes. The total order book as of date stands at Rs 3,545 crore.

• Cipla: Patna Tax Office rules against the company on input tax credit. The company is to appeal to a higher authority on the input tax credit ruling.

• Dollar Industries: The company recorded the highest-ever revenue in 2023–24. To open 50 exclusive brand outlets across south India by 2027. Aim for 50% sales growth in south India in 2024–25.

• NHPC: The National High Power Test Laboratory approved the transfer of 1 crore shares from the company to Power Grid Corp. The company’s stake in NHPTL now stands at 12.5%, up from 20% earlier. NHPTL ceased to be an associate company of the company.

• TVS Supply Chain Solutions: The company received a five-year contract with Daimler Truck AG for integrated supply chain solutions services in Singapore.

• Castrol India: The board appointed Kedar Lele as MD for five years, effective Nov 1.

• LTIMindtree: The company announced the inauguration of its regional headquarters in Riyadh as part of the expansion in Saudi Arabia and the Middle East.

• Patanjali Foods: The company has clarified that the board has evaluated the initial proposal by Patanjali Ayurved for the sale of non-food businesses on April 26. A committee comprising an independent director, CEO and CFO is in the process of evaluating the proposal.

• Wipro: The company introduced the Lab45 AI Platform, designed to increase efficiencies and transform business functions.

Most benchmarks in Asia-Pacific declined on Wednesday, not tracking overnight gains on Wall Street as traders wait for the US Federal Reserve's policy decision and inflation print.

The Nikkei 225 was 253.22 points 0.65% down at 38,881.57, and the S&P ASX 200 was 46.80 points or 0.60% down at 7,708.60 as of 06:45 a.m. The Kospi index was 11.20 points or 0.41% higher at 2,716.52.

After climbing to fresh highs, the S&P 500 Index settled 0.27% higher at 5,375.32. The Nasdaq Composite index rose 0.88%, while the Dow Jones Industrial Average index declined 0.31%.

Brent crude was trading 0.22% higher at $82.10 a barrel. Gold fell 0.22% to $2,311.92 an ounce.

The GIFT Nifty was trading 15.5 points or 0.1% down at 23,307.00 as of 06:48 a.m.

India's benchmark equity gauges erased all their gains in the last hour of the session on Tuesday and ended little changed as losses in the shares of Reliance Industries Ltd. and ICICI Bank Ltd. weighed. The NSE Nifty 50 ended 5.65 points or 0.02%, up at 23,264.85, while the S&P BSE Sensex closed 33.49 points or 0.04%, lower at 76,456.59.

Overseas investors in Indian equities turned net sellers on Tuesday, after two days, and offloaded stocks worth Rs 111 crore, while domestic institutional investors turned net buyers and mopped up equities worth Rs 3,193.3 crore after two days of selling, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 7 paise to 83.57 against the US dollar.