Nifty, Sensex Trending Up – Tuesday Closing Report
Moneylife Digital Team 29 March 2022
On Tuesday, the indices opened gap up and ended with gain. On the National Stock Exchange (NSE), 874 stocks advanced, 1,215 declined, and 50 remained unchanged with advance decline ratio of 0.72.
The trend of the major indices on Tuesday’s trading are given in the table below:
The broader market indices moved with Nifty and Sensex with BSE Midcap and BSE Small cap gaining 0.66% and 0.63% respectively. Sector wise Nifty Media, Nifty PSU Bank and
Nifty Oil& Gas were the biggest losers whereas the Nifty Pharma, Nifty Healthcare and Nifty Consumer Durables were the biggest gainers. US treasury yields touched a new 3 year high at 2.435%.
According to media reports, Hero Motocorp has been found to be involved in misreporting of expenses to reduce tax liability. It has reportedly been found to report Rs 1,000 crore in bogus expenses. The Income Tax raids were carries out on 23 and 26 March at Hero Motocorp’s premises. The stock closed 7% down.
InterGlobe Aviation CFO Jiten Chopra has resigned, and Gaurav Negi has been appointed as the new CFO. The stock closed in red. The applicants in Ruchi Soya FPO have been allowed to withdraw their applications by market regulator SEBI due to FPO related advertisement circulation. The company has said that the advertisement was not issued by them. Ruchi Soya has rescheduled board meeting to 31 March from 29 Mar (today) to decide FPO issue price. The stock closed 15% higher.
Karnataka Government has moved to Supreme Court against High Court order of allowing online gaming. The stated has cited public order, public health and cybercrime as grounds for its appeal.
SBI Life closed 2% higher after stake sale by Canada Pension Fund block deal. Bharti Airtel closed 2% higher after buying stake in Indus Tower from an affiliate of UK’s Vodafone Group Plc for Rs 2,388 crore.
GR Infraprojects closed 3% higher after emerging as the lowest bidder in two road projects in Maharashtra. PNC Infratech closed 4% higher after being declared as the lowest bidder for Rs 1,575 crore project from NHAI.
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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