Nifty, Sensex Close in the Red Ahead of US Fed Outcome– Wednesday Closing Report
Moneylife Digital Team 21 September 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex to move sideways until Fed meeting. On Wednesday, the indices opened gap down and ended with loss. On the Bombay Stock Exchange (BSE), 1,282 stocks advanced, 2,176 declined, and 129 remained unchanged with advance decline ratio of 0.59 indicating bearish sentiment in the broader market.
 
The trend of the major indices on Wednesday’s trading are given in the table below:
 
 
On NSE, 66 securities advanced and closed at new 52 week high whereas 21 securities sank to close at their new 52-week lows. In sectorial indices, Nifty FMCG was the only gainer whereas Nifty Metal and Nifty Pharma were the biggest losers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small declining 0.63% and 0.69% respectively.
 
Rupee ended at 79.98/$ as compared to 79.75/$ on Tuesday. Union Cabinet has approved the National Logistics Policy.
 
Asian Development Bank has slashed India’s GDP growth forecast from 7.2% to 7% for FY22-23.
 
Volkswagen India will raise prices of its vehicle by up to 2% across its portfolio.
 
Ashoka Buildcon has received letter of acceptance from Southwestern Railway for a project worth Rs 258.12 crore.
 
Heritage Foods board will consider raising funds via rights issue on 30 Sep. The stock closed in red.
 
DGCA has extended flights restrictions on Spice Jet under enhanced surveillance.
 
SP Apparels has announced buyback of 6 lakh shares at Rs 585 per share. The stock gained almost 3%.
 
InfoEdge will invest Rs 80 crore in Metis Eduventures. The stock closed in green. 
 
Borosil Renewables ended almost 3% higher on reports of PLI Scheme approval by cabinet.
 
Intellect Design Arena has bagged order from Cathay United Bank. The stock closed in red.
 
JMC Projects board has approved raising of up to Rs 200 crore via NCD. The stock closed in green.
 
KEC International won orders worth Rs 1,123 crore. The stock gained more than 3%.
 
Patanjali Foods was locked in 5% upper circuit after 0.14% equity changed hands at Rs 1,467 per share.
 
Ambuja Cements and ACC shed more than 6% after promoters created pledge on 63.15% equity and 56.69% equity respectively.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
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