Nifty, Sensex Volatile Due to Global Tensions and RBI meeting on Friday – Thursday Closing Report
Moneylife Digital Team 04 August 2022
On Thursday, the indices opened gap up, and ended almost flat. On the National Stock Exchange (NSE), advance decline ratio was at 0.85 indicating negative closing of more stocks and slightly cautious attitude of investors.
The trend of the major indices on Thursday’s trading are given in the table below:
On NSE, 54 securities advanced and closed at new 52 week high, whereas 16 securities sank to close at their new 52-week lows. In sectorial indices Nifty PSU Bank and Nifty Realty were the biggest losers whereas Nifty Pharma and Nifty Healthcare were the biggest gainers. The broader market indices emerged stronger in today’s volatile market with BSE Midcap and BSE Small cap gaining 0.29% and 0.25% higher respectively. Bank of England has hiked interest rates by 50 bps (largest increase since 1995). This sixth consecutive hike has taken borrowing costs to 1.75%.
Rupee fell again and closed at 79.47/$. BEL board has approved two bonus equity shares for every one equity share. The stock closed more than 2% higher.
Tata Motors JLR UK sales were up 34.5% at 6,089 units in July 2022 as compared to 4,528 units in July 2021. According to FADA, July vehicle registration fell 8% due to rain and inflationary impact on demand.
IndiGo will add a third ramp to help passenger get off from planes faster and improve turnaround time. Navneet Education closed 10% higher after declaring better than expected Q1FY22-23 earnings. It is trading around its three-year high. Subex is up around 40% in two days after announcing a partnership with Reliance’s Jio Platforms.
In quarterly results, LIC Housing Finance’s Q1FY22-23 net interest income (NII) was up 25.9% to Rs 1,645 crore and the profit jumped more than 6x to Rs 925 crore on a y-o-y basis.
Britannia’s Q1FY22-23 revenue was up 8.7% to Rs 3,701 crore and the profit declined 13.2% to Rs 336 crore. The margins contracted 280 bps to 13.5%.
Berger Paints Q1FY22-23 revenue was up 53.4% to Rs 2,759.7 crore and the profit jumped 80.3% to Rs 253.4 crore on a y-o-y basis.
Dabur’s Q1FY22-23 revenue was up 8.1% to Rs 2,822 crore and the profit was almost flat at Rs 441 crore. The margins contracted to 19.3% from 21.1% y-o-y. The results were better than estimates.
Adani Total Gas’s Q1FY22-23 revenue was up by just 3% to Rs 1,042 crore and the profit jumped 70.6% to Rs 138 crore on a q-o-q basis. Infibeam Avenues closed 6.7% higher after reporting Q1FY22-23 earnings. Its revenue was up 13.2% to Rs 418 crore and the profit declined 17.7% to Rs 23.7 crore on a q-o-q basis. Gabriel India ended almost 5% higher after declaring Q1FY22-23 earnings. Its net profit more than doubled to Rs 32.9 crore compared to Rs 12 crore y-o-y. Revenue jumped 59.6% to Rs 721 crore.
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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