Nifty, Sensex continue be under pressure – Monday Closing Report
Moneylife Digital Team 24 January 2022
We had mentioned in Friday’s closing report that Nifty and Sensex in a free fall. On Monday, the indices opened gap down and ended deeply in red.
 
On the National Stock Exchange (NSE), only 167 stocks advanced, whopping 1,948 declined and 35 remained unchanged with advance decline ratio of 0.09, indicating major weakness in broader markets.
 
The trend of the major indices on Monday’s trading are given in the table below:
 
 
Markets witnessed yet another Monday mayhem today, all sectoral indices ended in the red losing 2% to 6%. Market breadth was in the favour of declines with advance decline ratio of 1:14. The volatility index touched 23.90, highest level since May 2021. Recently listed companies such as Zomato, Nykaa and PB Fintech fell sharply and were down by 11% to 20%. 
 
Air India divestment date has been fixed at 27 Jan and closing balance sheet till 20 Jan has been provided to Tata for review and changes. 
 
Axis Bank’s Q3FY21-22 net interest income has increased by 17.4% and the net profit increased multifold to Rs 3,614 crore from 1,116 crore on a y-o-y basis. 
 
Tube investment of India has forayed into e-mobility by acquiring 70% stake in e-tractor company Cellestial. The stock closed 4% lower.
 
Bharti Airtel will consider issue of equity shares to other than founder group on a preferential basis in Jan 28 meeting. 
 
SBI Card’s Q3FY21-22 net interest income increased to Rs 996 from Rs 912 crore on a y-o-y basis. The net profit increased to Rs 386 crore from Rs 209 crore. The net NPA declined to 0.8%.
 
Cipla closed 2% higher after global brokerage firm Credit Suisse upgraded it to ‘outperform’ from ‘neutral’ rating.
 
Shriram Transport’s Q3FY21-22 net interest income was at Rs 2,263 crore as compared to Rs 2,145 crore in the same period last year. The net profit declined to Rs 681 crore from Rs 728 crore. The net NPA was at 4.36% as compared 4.18% in Q2FY21-22.
 
HDFC AMC’s Q3FY21-22 revenue increased by 14.1% to Rs 549.7 crore and the net profit declined by 2.6% to Rs 360 crore on a y-o-y basis.
 
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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