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Overseas investors in Indian equities remained net sellers on Friday for the seventh session in a row. Foreign portfolio investors offloaded stocks worth Rs 556.32 crore, according to data from the National Stock Exchange. Domestic institutional investors remained net buyers for the second day and mopped up stocks worth Rs 366.61 crore, the NSE data showed. Foreign institutions net sold Rs 2,034 crore worth of equities in August so far. They have been net buyers of Rs 1,20,991 crore worth of Indian equities in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day. The yield on the 10-year bond closed flat at 7.19% on Friday. It closed at 7.2% on Thursday. Source: Bloomberg The local currency weakened 11 paise to close at Rs 82.84 against the U.S dollar on Friday. It closed at 82.73 on Thursday. Source: Bloomberg India's benchmark stock indices snapped three-day losing streak, and closed higher led by HDFC Bank Ltd., Reliance Industries Ltd., and Infosys Ltd. The information & technology and telecommunication sectors advanced, while utilities and auto were under pressure. The S&P 500 halted a two-day rally, failing to stay above the closely watched level of 4,200. The $3.2 billion SPDR S&P Regional Banking exchange-traded fund slumped almost 2% on a news report that Treasury Secretary Janet Yellen told the chiefs of large lenders that more mergers may be needed, according to Bloomberg. The S&P BSE Sensex closed 480.57 points, or 0.74%, higher to 65,721.25 while the NSE Nifty 50 advanced 135.35 points, or 0.7%, to end at 19,517. HDFC Bank Ltd., RIL Ltd., Infosys Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd. were positively contributed to the change in the Nifty 50. SBI Ltd., Bajaj Auto Ltd., NTPC Ltd., Maruti Suzuki India Ltd. and BPCL Ltd. weighed on the index. The broader indices underperformed the benchmark indices with S&P BSE MidCap closing up 0.65% and S&P BSE SmallCap ending 0.66% higher. The market breadth was skewed in the favour of the bulls. About 2,237 stocks advanced, 1,332 declined and 151 remained unchanged. On weekly basis, Sensex fell 0.66%, and the Nifty was lower by 0.66%. On a sectoral basis, Nifty IT, Pharma, and Small Cap 100 gained the most, while Nifty Realty, PSU Bank, and FMCG declined. Appoints John Slaven as CEO of Aluminum Business effective from October 03, 2023 Designates John Slaven as Senior Management Personnel Stephen Russell Moore elevated as Deputy CEO of Cairn Oil & Gas Transition in leadership at Cairn Oil & Gas effective from August 04, 2023 Source: Exchange Filing
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