Nifty, Sensex May Record Some More Gains in the Initial Part of the Week– Weekly closing report
Moneylife Digital Team 27 May 2022
We had mentioned in previous week’s closing report that Nifty, Sensex may bounce. The major indices opened higher this week and closed with gain. Nifty Metal and Nifty Realty were the biggest losers whereas Nifty Bank and Nifty Auto were the biggest gainers.
 
 
On Monday, the indices opened flat and ended with loss. On the National Stock Exchange (NSE), 792 stocks advanced, 1,297 declined and 75 remained unchanged with advance decline ratio of 0.61.
 
Nifty Sensex opened a bit higher, went up during the day and collapsed in the last hour to close in red. The broader market indices underperformed their larger peers, BSE Midcap and BSE Small cap closed 0.26% and 0.64% down respectively. Sector wise Nifty Metal and Nifty Oil& Gas were the biggest losers after import duty hike by government whereas Nifty IT and Nifty Auto were the biggest gainers.
 
Tata Power will install 7 MW solar rooftop at Tata Motor’s passenger vehicle plant in Pune. This project will generate 23 million units of electricity and mitigate 5.23 lakh tons of carbon dioxide.
 
On Tuesday, the indices opened flat and ended with loss. On the National Stock Exchange (NSE), 549 stocks advanced, 1,528 declined, and 50 remained unchanged with advance decline ratio of 0.36.
 
Nifty, Sensex were volatile during the day, declined in the first session then touched opening level and fell severely in the afternoon to close in red. Sector wise Nifty Media and Nifty IT were the biggest losers whereas Nifty Financial Services and Nifty Bank were the biggest gainers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small cap closing 0.85% and 1.14% down respectively.
 
GIC Singapore will invest Rs 2,195 crore in Aditya Birla Fashion and Retail for approx. 7.5% equity stake in the company. Delhivery IPO listed at Rs 495.20 as compared to its issue price of Rs 487 per share getting a premium of just 1.68% to the issue price. Alembic Pharma has received USFDA approval to market Pirfenidone tablets.
 
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.
 
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.
 
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. 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.
 
On Thursday, the indices opened a little higher, and ended with gain. On the National Stock Exchange (NSE), 1,202 stocks advanced, 866 declined, and 63 remained unchanged with advance decline ratio of 1.39.
 
Nifty, Sensex opened a bit higher but dropped significantly in the first half and recovered in the second half to close near day’s high. Barring Nifty FMCG all indices ended in green with Nifty PSU Bank and Nifty Metal being the biggest gainer. The BSE Small cap index was in line with the broader market however, the BSE Midcap index outperformed its larger peers with 1.4% gain. Rupee closed 5 paise down at 77.58 per dollar against previous close of 77.53 per dollar.
 
The Supreme Court has permitted resumption of SFIO probe against Sahara group companies. The government has amended paper import policy wherein the importer needs to compulsorily get registered at least 5 days before import order. The registration will be valid for 75 days.
 
On Friday, the indices opened with a gap up, and ended with gain. On the National Stock Exchange (NSE), 1,487 stocks advanced, 600 declined, and 60 remained unchanged with advance decline ratio of 2.48.
 
Nifty Sensex opened with big gap up traded in a range during the to close at day’s high. Sector wise Nifty Oil& Gas were the biggest losers whereas Nifty IT and Nifty Media were the biggest gainers. The broader market indices outperformed their larger peers with BSE Midcap and BSE Small cap closing 1.7% and 1.2% higher.
 
Adani Enterprises has acquired 50% stake in drone-based solution provider General Aeronautics through its wholly owned subsidiary Adani Defence Systems and Technologies.
 
VRL Logistics’ Q4FY21-22 profit shot up by 51% to Rs 56 crore and the revenue went up by 11% on a y-o-y basis.
 
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