Nifty, Sensex May Move Sideways – Friday Closing Report
Moneylife Digital Team 02 September 2022
We had mentioned in Thursday’s closing report that Nifty and Sensex will remain volatile. On Friday, the indices opened with gap up and ended flat. On the Bombay Stock Exchange (BSE), 1,767 stocks advanced, 1,659 declined, and 141 remained unchanged with advance decline ratio of 1.06 indicating flat closing of most of the stocks.
 
The trend of the major indices on Friday’s trading are given in the table below:
 
 
On NSE, 100 securities advanced and closed at new 52 week high whereas 13 securities sank to close at their new 52-week lows. In sectorial indices Nifty Oil& Gas and Nifty PSU Bank were the biggest losers whereas Nifty Financial Services and Nifty Media were the biggest gainers.
 
Nifty Realty and Nifty Auto gained the most in this week while Sensex and Nifty closed flat. Bajaj Finserv and Tata Consumers were the top Nifty gainers this week.
 
Rupee closed at 79.80/$ as compared to Thursday’s close of 79.55/$.
 
Olectra Greentech has received order from Assam Government to supply 100 electric buses over a period of 9 months. The order is worth Rs 151 crore.
 
HBL Power ended 10% higher after winning an order worth Rs 673 crore from Indian Railways.
 
Adani Enterprises gained almost 4% after its inclusion in the Nifty 50 index in place of Shree Cement. TCNS Clothing gained almost 13% on the back of heavy volumes.
 
Tanla Platforms gained almost 3% after the company announced considering buyback of shares at its board meeting on 8 September.
 
The share price of Natco Pharma closed in red after touching new 52 week low of Rs 607. The company has approved sale of its 15% shareholding in Joint Limited Liability Company Natvita for 3,45,000 euros to Pharmasyntez-Nord joint stock company.
 
Spice Jet will receive around Rs 225 crore next week as part of Government credit guarantee scheme ECLGS (Emergency Credit Line Guarantee Scheme) to clear statutory dues. New CFO will join next week. The company is actively working on raising funds.
 
IndusInd Bank has partnered with ADB (Asian Development Bank) to support supply chain financing with an initial outlay of Rs 560 crore.
 
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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