Nifty, Sensex Dragged Down by IT and FMCG Stocks– Tuesday Closing Report
Moneylife Digital Team 26 July 2022
On Tuesday, the indices opened gap up and ended with loss. On the National Stock Exchange (NSE), advance decline ratio was at 0.37 indicating major bear grip across broader markets. 
 
The trend of the major indices on Tuesday’s trading are given in the table below:
 
 
On NSE, 30 securities advanced and closed at new 52 week high whereas 26 securities sank to close at their new 52-week lows. Sector wise Nifty IT and Nifty FMCG were the biggest losers whereas Nifty Media was the only sector to end in green. The broader market indices fell more sharply than their larger peers with BSE Midcap and BSE Small cap shedding 1.2% each.
 
In quarterly results, Tata Power’s Q1FY22-23 revenue jumped 43.1% to Rs 14,495 crore and the net profit more than doubled to Rs 794.6 crore from Rs 391 crore on a y-o-y basis.
 
South Indian Bank’s Q1FY22-23 net interest income (NII) was up by 11.3% to Rs 603.4 crore and the net profit was at Rs 115 crore as compared to Rs 10.3 crore in the same quarter last year. Net NPA was at 2.87% from 2.97% q-o-q.
 
Relaxo Footwear’s Q1FY22-23 revenue went up by 34.2% to Rs 667 crore and profit was up by 24.9% to Rs 38.6 crore on a y-o-y basis.
 
Ujjivan Small Finance Bank’s Q1FY22-23 NII jumped 56% to Rs 599 crore and reported profit of Rs 203 crore as compared to loss of Rs 233 crore on a y-o-y basis. The stock closed almost 10% higher.
 
Union Bank’s Q1FY22-23 NII grew by 8.1% to Rs 7,581 crore and profit was up by 32% to Rs 1,558 crore on a y-o-y basis. The stock declined more than 2%.
 
Bajaj Auto’s Q1FY22-23 revenue was up by 8.4% to Rs 8,005 crore and profit was up by 10.6% to Rs 1,173 crore on y-o-y basis. The stock closed 2% down.
 
Asian Paints Q1FY22-23 revenue jumped 54.1% to Rs 8,607 crore and profit leapt 80.4% to Rs 1,036 crore on y-o-y basis. The margin expanded by 170 bps to 18.1%. The stock closed in green.
 
Tanla Platforms closed with 20% lower circuit after declaring poor Q1FY22-23 earnings. Its net profit declined 28.5% to Rs 100.4 crore and the revenue was down 6.2% to Rs 800.1 crore on a q-o-q basis.
 
Wipro has received extension of contract with Nokia for five year regarding digital transformation. TCS has partnered AEMO, Australia to transform energy market.
 
Ashishkumar Chauhan has taken charge as MD & CEO of NSE. Zomato extended its decline losing 12% today. Bajaj Finserv jumped 5.5% after it announced that it would consider a share split.
 
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:
 
Comments
Free Helpline
Legal Credit
Feedback