Nifty, Sensex Near 1-Month High– Monday Closing Report
Moneylife Digital Team 18 July 2022
On Monday, the indices opened gap up and ended with gains. On the National Stock Exchange (NSE), advance decline ratio was at 2.80, indicating major strength in broader markets.
 
The trend of the major indices on Monday’s trading are given in the table below:
 
 
On NSE, 49 securities advanced and closed at new 52 week high whereas 26 securities sank to close at their new 52-week lows. In sectorial indices Nifty Pharma and Nifty FMCG were the biggest losers whereas Nifty IT and Nifty PSU Bank were the biggest gainers. The broader market indices closed in line with their larger peers with BSE Midcap and BSE Small cap gaining 1.5% and 1.4% respectively.
 
Rupee closes at record low of 79.97/$ against Friday’s close of 79.88/$. Brent crude was trading above $100/bbl.
 
Mangalore Chemicals & Fertilizers has shutdown its Phosphatic Fertilizers plant due to non-availability of raw materials. GSFC has closed its Urea-II plant for 13 days after noticing leakage.
 
In 5G spectrum bidding, Jio has submitted the highest earnest money deposit of Rs14,000 crore for upcoming 5G auctions. Bharti Airtel, Vodafone Idea and Adani have submitted Rs5,500 crore , Rs2,200 crore and Rs 100 crore respectively.
 
HDFC Bank closed in red after reporting mixed set of earnings for Q1FY22-23.
 
Zydus Life has received final US FDA approval for Efinaconazole Topical solution used for treatment of Onychomycosis. The stock declined more than 3%.
 
Jindal Stainless Steel will supply 3,500 tonnes stainless steel for USBRL Railway Tunnel Project in J&K.
 
According to Finance Ministry’s recent estimates FY21-22 real GDP growth was at 8.7%. For FY22-23 it expects GDP growth above 7% as per statement in Parliament.
 
Heidelberg Cement’s Q1FY22-23 revenue was up by 6.1% to Rs 590 crore y-o-y and the profit declined by 24.8% to Rs 51.6 crore. The stock closed in green. 
 
Ahluwalia Contracts has won multiple construction contracts worth Rs 140 crore. The stock closed almost 4% higher.
 
Power Mech Project ended almost 3% higher after clarifying that Income Tax search conducted at its office between 13 to 17 July will have no impact on operational performance.
 
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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