Nifty, Sensex Directionless – Tuesday Closing Report

Moneylife Digital Team 06 December 2022

We had mentioned in Monday’s closing report that Nifty and Sensex awaits results of Gujarat exit polls. On Tuesday, the indices opened gap down and ended with loss. On the Bombay Stock Exchange (BSE), 1,596 stocks advanced, 1,899 declined, and 137 remained unchanged with advance decline ratio of 0.84.

The trend of the major indices on Tuesday’s trading are given in the table below:

On NSE, 69 securities advanced and closed at new 52 week high whereas 15 securities sank to close at their new 52-week lows. In sectorial indices, Nifty IT and Nifty Media were the biggest losers whereas Nifty PSU Bank and Nifty FMCG were the biggest gainers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small Cap declining 0.53% and 0.32% respectively.

Rupee ended at 82.62/$ as compared to 81.79/$ on Monday.

World Bank has upgraded India’s GDP growth forecast to 6.9% for FY22-23.

In insider buying and selling, Dhanlaxmi Bank Immediate relative sold net 180,000 shares through open market. Frog Cellsat Promoters bought net 12,000 shares through open market.

Texmaco Infrastructure and Holdings Promoters bought net 100,000 shares through open market. Lagnam Spintex Promoters bought net 15,000 shares through open market. Bharat Wire Ropes Director sold net 3,500 shares through open market. COSMO FIRST LIMITED KMP sold net 10,000 shares through open market. Madhya Bharat Agro Products Promoters sold net 10,735 shares through open market. Vaxtex Cotfab Promoters sold net 1,232,510 shares through open market.

Sugar Companies ended higher after reports of India’s output falling 7% y-o-y. Bharat Forge and RK Forging ended in red after Class 8 truck order fell for second month.

British International Investment sold off its entire stake in Rainbow Children’s Medicare, Sequoia Capital sold stake in Go Fashion.

Bajaj Consumer ended in green as its board will consider share buyback on 9 December.

Dhunseri Investment ended more than 6% higher after the company signed MoU (memorandum of understanding) with Apeejay Tea to acquire 2 tea estates for Rs110 crore. Dhunseri Tea Industries ended in 20% upper circuit.

IDBI Bank ended more than 7% higher after the government allowed consortium of foreign funds and investments firms to own more than 51% in the Bank.

Ircon International has won order worth Rs122 crore from Sri Lanka Railways.

Jindal Stainless was up by 10.2% after 60 lakh share changed hands via block deals.

The top gainers and top losers of the major indices are given in the table below: