Nifty, Sensex Continues to Remain Weak – Wednesday Closing Report
Moneylife Digital Team 25 May 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex remain weak. On Wednesday, the indices opened gap up and ended with loss. On the National Stock Exchange (NSE), 322 stocks advanced, 1,758 declined, and 49 remained unchanged with advance decline ratio of 0.18.
 
The trend of the major indices on Wednesday’s trading are given in the table below:
 
 
Nifty Sensex opened with a little gap up and declined in tranches during the day to close near day’s low. Barring Financial indices such as Nifty Bank all other indices ended in red. Nifty IT, Nifty Realty, Nity Media and Nifty PSU Bank declined more than 2%. The real bloodbath was in Small cap and Midcap companies as the indices closed 2.94% and 1.93% down respectively.
 
According to news reports Cabinet has approved the sale of entire 29.5% stake in Hindustan Zinc.
 
Globus Spirits closed 20% lower after reporting Q4FY21-22 results. Its profit declined by 9% to Rs 49 crore and the revenue grew by 34% to Rs 479 crore on a y-o-y basis.
 
Max Healthcare’s Q4FY21-22 revenue grew by 17% to Rs 939 crore and the profit grew by 78% to Rs 124 crore on a y-o-y basis.
 
Nalco’s Q4FY21-22 revenue grew by 53.8% to Rs 4,340 crore and the net profit grew by 9.6% to Rs 1,025 crore on a y-o-y basis.
 
Whirlpool of India’s Q4FY21-22 revenue declined by 4% to Rs 1,706 crore and the profit declined by 35% to Rs 84.5 crore y-o-y.
 
Praj Industries Q4FY21-22 revenue grew by 46% to Rs 829 crore and the profit grew by 10.7% to Rs 57.6 crore y-o-y.
 
Interglobe Aviation’s Q4FY21-22 revenue grew by 29% to Rs 8,020.7 crore and the loss expanded to Rs 1,681 crore as compared to loss of Rs 1,147 crore y-o-y.
 
Asahi India’s Q4FY21-22 revenue grew by 16.3% to Rs 940 crore and the profit grew by 51.6% to Rs 127.5 crore y-o-y.
 
Suzlon Energy’s Q4FY21-22 revenue more than doubled to Rs 2,441 crore as compared to Rs 1,120 crore and the net loss almost quadrupled to Rs 205 crore from Rs 54 crore in the same quarter last year.
 
TVS Shrichakra’s Q4FY21-22 revenue grew by 10.7% to Rs 666 crore and the profit declined by 77% to Rs 8 crore as compared to Rs 35 crore on a y-o-y basis.
 
Easy Trip’s Q4FY21-22 revenue declined by 8.5% to Rs 61 crore and the profit declined by 23.5% to Rs 23.3 crore on a y-o-y basis. The stock closed 5% down.
 
The top gainers and top losers of the major indices are given in the tble below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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