Nifty, Sensex showing signs of exhaustion – Wednesday closing report
We had mentioned in Tuesday’s closing report that movement in Nifty, Sensex may decline. On Wednesday, the major indices opened high but lost all gains and ended flat. On the NSE, there were 747 advances, 1,082 declines and 330 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
Reliance Industries conducted their 43rd AGM wherein Mukesh Ambani announced that Google will invest Rs 33,737 crore for a 7.7% stake in Jio Platforms. Google and Jio are partnering to build a new smartphone operating system in India. Ambani also announced that he aims to make the oil-to-chemicals a separate entity. After trading higher through the day, the stock turned negative on this news. 
 
Wipro reported consolidated profit of Rs 2,390.4 crore during June quarter, supported by other income (up 10 percent QoQ) and good operating performance. Consolidated revenue was Rs 14,922.8 crore.
 
GTPL Hathway reported 39% rise in net profits on YoY basis for the June quarter, at Rs.40.86 crore. Revenues jumped 10% YoY to Rs.502 crore.
 
Infosys net profit for June quarter climbed to Rs 4,233 crore, from Rs 3,798 crore a year earlier. Revenue rose 8.5% to Rs 23,665 crore.
 
ICICI Securities Primary Dealership reported 391% rise in net profits on YoY basis for the June quarter, at Rs.345.08 crores. Revenues jumped 88% YoY to Rs.658 crore.
 
Cadila Healthcare shares gained after Zydus announced that the Adaptive Phase I/ II human clinical trials of its plasmid DNA vaccine, ZyCoV-D commenced with the first human dosing. The Adaptive Phase I/II dose escalation, multi-centric study will assess the safety, tolerability and immunogenicity of the vaccine.
 
Emami completed the divestment of 100% equity stake in Emami Cement to Nuvoco Corporation for an enterprise value of Rs 5,500 crore.
 
The Department of Telecommunications withdrew its order asking Oil India to pay Rs 48,489 crore in adjusted gross revenue-related dues.
 
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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