Nifty, Sensex May Try to Rise More – Thursday Closing Report
Moneylife Digital Team 23 June 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex remain under pressure. On Thursday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,426 stocks advanced, 629 declined, and 80 remained unchanged with advance decline ratio of 2.27.
 
The trend of the major indices on Thursday’s trading are given in the table below:
 
 
On NSE, six stocks advanced and closed at new 52 week high whereas 84 stocks sunk to close at their new 52-week lows. Nifty Auto and Nifty IT were the biggest gainers whereas Nifty Oil& Gas was the only loser. The broader market indices outperformed their larger peers with BSE Midcap and BSE Small cap gaining 1.4% and 1.18% respectively.
 
Hero Motocorp is set to revise prices of its vehicles by up to Rs 3,000 citing cost inflation including commodity prices. Tata Motors is conducting an investigation to ascertain facts of Nexon EV fire incident occurred in Mumbai. L&T has won order in the range of Rs 2,500 crore to 5,000 crore for its hydrocarbon business. Nazara Technologies closed 4% higher after JM Financial initiated coverage with a ‘hold’ rating.
 
Allsec Technologies closed 1% higher after Quess Corp approved scheme of amalgamation to merge Allsec into Quess Corp. The merger ration is 0.74:1. Bombay High Court upheld Yes Bank’s right to vote at Dish TV’s EGM on 24 June. Acrysil closed more than 8% higher after the company announced doubling of quartz kitchen sink supply to Ikea.
 
Spandana Sphoorty Financials closed more than 19% higher after the company informed the resolution of differences with the promoter and former MD Padmaja Gangireddy. IRB Infrastructure Developers closed 7% higher after the company received Rs 308 crore towards part payment from NHAI. Macrotech Developers closed in green after the company announced entry into Bengaluru housing market.
 
Accenture has raised its full year revenue growth of 25.5% to 26.5% in local currency. The US Dollar revenue is expected 24% higher. RBL Bank board has appointed Subramaniakumar as CEO for three years and Rajeev Ahuja as Executive Director. Route Mobile will consider share buyback proposal on 28 June. The stock closed more than 9% higher.
 
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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