Nifty, Sensex Decline for fifth day in a row: Close at 52 week low – Thursday Closing Report
Moneylife Digital Team 16 June 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex remain under pressure before Fed policy decision. On Thursday, the indices opened gap up after the US markets ended higher but closed with huge loss. On the National Stock Exchange (NSE), 288 stocks advanced, 1,814 declined, and 48 remained unchanged with advance decline ratio of 0.16 indicating major correction in the broader markets.
The trend of the major indices on Thursday’s trading are given in the table below:
On NSE, just 14 stocks advanced and closed at new 52 week high whereas whopping 267 stocks sunk to close at their new 52-week lows. All sectorial indices closed in red with Nifty Metal and Nifty Media being the biggest losers whereas Nifty FMCG and Nifty Pharma were least affected. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small cap closing 2.34% and 2.87% down respectively. Rupee closed at fresh record low of 78.08/$.
According to TRAI’s April subscriber data, Jio added 16.8 lakh subscribers, Airtel added 8.16 lakh whereas Voda Idea, BSNL and MTNL lost 15.6 lakh, 3.69 lakh and 3,147 subscribers respectively.
LIC has increased its stake in Dr Reddy’s from 3.63% to 5.65%. The 47th GST Council meeting is scheduled to be held on 28 and 29 June in Sri Nagar.
ICICI Bank has raised its retail term deposit rates by 10 to 25 bps. Kotak Mahindra Bank has hiked its lending interest rates by 20 to 25 bps across tenures.
Tata Motors in its annual report said that the recent lockdown in parts of China will adversely impact its supply chain, sales outlook in FY22-23. The stock closed 5% down.
RBL Bank closed at record low after declining 8%. Dredging Corp has won orders worth Rs 250 crore for maintenance contract for Jawaharlal Nehru Port.
Tesla has raised prices for vehicles of all models in US. European Natural gas prices surges 20% as Russia reduced supply.
Spice Jet closed 6% down due to high ATF prices and rupee depreciation. ATF prices have been hiked by 16% to new record high.
Sagar Cement declined 12% due to growth concerns. Vakrangee closed 8% higher, apparently because it has signed pact to sell Decathlon’s products offline and online. Grasim has appointed Pavan Jain as CFO with effect from 15 August.
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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