Indian markets witnessed very volatile session today but closed on a flat-to-negative note following concerns over US Govt. shutdown hurting sentiments. Benchmark indices pared their intra-day gains before closing for the weekend around previous day’s close level. Before closing, both the indices ventured between positive and negative terrain with sharp movements forming the intra-day high and low in the range of approximately 1%. S&P CNX Nifty closed at 5907.30, down by 2.40 points while Sensex end the day at 19915.95, down by 13.88 points.
With an aim to make Indian capital markets an easier and attractive investment destination for overseas investors, SEBI has finalized detailed regulations for 'Foreign Portfolio Investors' (FPIs). The new norms provide an operational framework for FPIs, a new class of overseas investors that club all existing class of investors like Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs). According to proposed norms, FPIs in the lowest risk category would not have to pay any registration fees.
Sectoral indices witnessed the mixed results caused by excessive volatility and gains in realty, auto and healthcare stocks were offset by losses in power, banks and capital goods. CNX Realty was the biggest gainer on the NSE as it registered gain of 1.62% and followed by CNX Auto (0.91%) and CNX Metal (0.70%). On the other hand, CNX PSU Bank loses the most on NSE and plunged by -0.56% and chased down by CNX Infra (-0.46%), CNX Service (-0.28%), CNX Finance (-0.27%) and Bank Nifty (-0.25%).
Market breadth was also averaged out on the NSE as 557 stocks advanced against 599 declined and 82 remaining unchanged.
While on Nifty, out of 50 stocks, 19 registered growth while 30 declined.
Top Five Nifty Gainers: Hindalco topped the Nifty Gainers chart and excelled by 2.47% followed by Coal India (2.30%), Lupin (2.18%), BPCL (2.00%) and Tata Motors (1.46%).
Top Five Nifty Losers: Dr. Reddys loses the most among Nifty stocks and fell by -2.47% and accompanied by Power Grid (-2.00%), Jindal Steel (-1.89%), IDFC (-1.32%) and Larsen & Toubro (-1.29%).
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