Nifty, Sensex Continue to Head Higher – Thursday Closing Report
Moneylife Digital Team 21 July 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex may take a breather. On Thursday, the indices opened flat, came down but ended with gain. On the National Stock Exchange (NSE), advance decline ratio was at 1.71 indicating better market breadth. 
 
The trend of the major indices on Thursday’s trading are given in the table below:
 
 
On NSE, 43 securities advanced and closed at new 52 week high whereas 20 securities sank to close at their new 52-week lows. Among sectorial indices Nifty Pharma and Nifty Healthcare were the biggest losers whereas Nifty PSU Bank and Nifty Media were the biggest gainers. The broader market indices outperformed their larger peers with BSE Midcap and BSE Small cap gaining 1.2% and 0.9% respectively.
 
Rupee closed at 79.95/$ as compared to 79.99/$. Italian PM Mario Draghi has resigned.
 
FICCI Economic Outlook has downgraded India’s GDP forecast for FY22-23 to 7% from 7.4% in the April round.
 
In quarterly results, Cyient’s Q1FY22-23 revenue was up by 5.8% to Rs 1,250 crore and the profit declined by 24.7% to Rs 116 crore on a q-o-q basis. Margin at 11.37% as compared to 14.35% q-o-q.
 
SRF’s Q1FY22-23 revenue zoomed by 44.3% to Rs 3,894 crore and profit jumped by 54.1% to Rs 609 crore on a y-o-y basis.
 
RBL Bank’s Q1FY22-23 net interest income was up by 6% to Rs 1,027 crore and the company reported profit of Rs 201 crore against loss of Rs 459.5 crore on a y-o-y basis.
 
Hitachi Energy’s Q1FY22-23 revenue was up by 25.8% to Rs 986 crore but the profit declined by whopping 92% at Rs 1.3 crore as compared to Rs 16.3 crore on a y-o-y basis.
 
PVR’s Q1FY22-23 revenue jumped multifold on low base to Rs 1,000 crore and the company reported profit of Rs 68 crore against loss of Rs 142 crore on a y-o-y basis.
 
Ramkrishna Forgings Q1FY22-23 revenue was up by 67.7% at Rs 699 crore and the profit more than doubled to Rs 51.4 crore on a y-o-y basis.
 
Hindustan Zinc’s Q1FY22-23 revenue went up by 43.7% to Rs 9,387 crore and the profit jumped by 55.9% to Rs 3,092 crore on a y-o-y basis.
 
Kajaria Ceramic’s Q1FY22-23 revenue jumped by 79.5% to Rs 1,008 crore and the profit more than doubled to Rs 92 crore as compared to Rs 43 crore on a y-o-y basis.
 
Philips Carbon’s Q1FY22-23 revenue was up by 40.4% to Rs 1,409 crore and the profit went up by 20.8% to Rs 126 crore on a y-o-y basis.
 
IndusInd Bank gained almost 8% after reporting 15% rise in net interest income and 64% jump in profit in Q1FY22-23.
 
Valiant Organics closed 4% higher after operational normalcy was restored at Valsad, Gujarat plant of the company. 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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