We discussed last week the closing report that Nifty, Sensex is heading for all time high. Major indexes opened higher this week and closed in losses.
On Monday, the forward equity indices started the week on a muted note. On the Bombay Stock Exchange (BSE), 1668 stocks advanced, 1,948 declined, and 153 remained unchanged with an advance decline ratio of 0.85 indicating weakness in the broader market.
On the NSE, 66 stocks advanced and closed at new 52-week highs while 35 stocks sank to close at their new 52-week lows. Metals jumped 1.7% in IT and Realty indices also ended with good gains. Media fell more than 2% and FMCG more than 1% in today’s session.
The Rupee depreciated by 48 paise to close at 81.26/$. The dollar index traded at 106.91.
Ircon International clocked a robust 38% yoy (year-on-year) growth in net income at Rs174.2 crore led by a healthy top line and operating performance, though margins contracted slightly. . Revenue from operations for the September quarter grew 47% yoy to Rs2,239 crore and operating profit rose 43% yoy to Rs200 crore.
On Tuesday, the indices opened a gap and ended with gains. On the Bombay Stock Exchange (BSE), 1,671 stocks advanced, 1,840 declined, and 124 remained unchanged with an advance decline ratio of 0.90.
On the NSE, 71 securities advanced and closed at new 52-week highs while 30 securities sank to their new 52-week lows. Among the sectoral indices, Nifty Media and Nifty Realty were the biggest losers while Nifty Oil& Gas and Nifty Bank were the biggest gainers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small cap ending in the green.
The Rupee ended at 81.10/$ compared to Monday’s close of 81.26/$.
India’s benchmark 10-year bond yield ended at its lowest level since Sep 2021 at 7.26%.
Mineral production rose 4.6% yoy in September 2022. UK September unemployment rate was 3.6% compared to 3.5% last month.
NMDC declined by 4% after registering a decline of 62% in Q2FY22-23 net profit on a yoy basis. Its revenue declined by 51% to Rs 3,328 crore.
Balkrishna Industries ended 4% higher despite reporting weak Q2FY22-23 results. Its profit decreased by 2.2% and margin decreased from 25.9% to 16% on a yoy basis.
Greaves Cotton ended 2% higher after Q2FY22-23 net profit at Rs28.9 crore compared to a loss of Rs23.3 crore in the same quarter last year.
On Wednesday, the indices opened flat and ended in the green. In the Bombay Stock Exchange (BSE), 1,436 stocks advanced, 2,081 declined, and 121 remained unchanged with an advance decline ratio of 0.69, indicating that the overall trend was negative.
On the NSE, 59 securities advanced and closed at new 52-week highs while 39 securities sank to their new 52-week lows. Among the sectoral indices, Nifty Metal and Nifty Media were the biggest losers while Nifty Bank and Nifty Financial Services were the biggest gainers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small Cap declining over 0.6% and 0.3% respectively.
The Rupee closed at 81.30/$ compared to 81.10/$ on Tuesday.
Kotak Mahindra Bank has raised its lending rates by 10 to 15 bps. Bharti Airtel ended in the green after Fitch Rating affirmed its rating at BBB-.
KEC International ended 2% higher after securing an order for the supply of towers in America by its Brazilian subsidiary worth Rs 1,294 crore.
TCS went green after TAP Air Portugal was selected as a strategic partner to accelerate its digital transformation and drive innovation.
Metropolis Healthcare fell 7% after the Income Tax investigation department conducted searches at its Mumbai office.
Jet Airways fell more than 2% after the company faced a standoff over increased PF and gratuity payments. The Jalan-Kalrock consortium does not intend to pay anything more than Rs 475 crore.
The share price of FSN E-commerce or Nykaa fell by 4% after Segantii India Mauritius sold 33.73 lakh shares at an average price of Rs 199.24 per share.
On Thursday, the indices opened a gap, and ended in losses. On the Bombay Stock Exchange (BSE), 1,520 stocks advanced, 1,987 declined, and 109 remained unchanged with an advance decline ratio of 0.76.
On the NSE, 48 securities advanced and closed at new 52-week highs while 48 securities sank to their new 52-week lows. Among the sectoral indices, Nifty Auto and Nifty Consumer Durables were the biggest losers while Nifty PSU Bank and Nifty Realty were the only gainers. The broader market indices closed almost in line with their larger peers, BSE Midcap and BSE Small Cap down 0.33% and 0.27% respectively.
The Rupee ended at 81.65/$ compared to Wednesday’s close of 81.30/$.
PayTM (A 97 Communications) is down more than 10% after a 4.5% stake changed hands. According to news reports Japan’s Softbank is looking to sell $215 million worth of shares as the lock-in for pre-IPO investors ends.
Hindustan Zinc ended in the green after its board declared a second interim dividend of Rs 15.5 per share.
Timken India is locked in a long circuit after the company announced the construction of a new facility in Bharuch, Gujarat to manufacture spherical roller bearings and other components.
Usha Martin gained more than 3% after its promoter sold 4 lakh shares.
Tera Software gained more than 4% after the company received orders worth Rs46.7 crore from Bharat Electronics for scanning and digitizing E Mahabhoomi Polygons in 14 districts of Maharashtra.
On Friday, the indices opened a gap but ended in the red. On the Bombay Stock Exchange (BSE), 1,443 stocks advanced, 2,054 declined, and 129 remained unchanged with an advance decline ratio of 0.7 indicating a negative close for most of the stocks.
On the NSE, 57 securities advanced and closed at new 52-week highs while 53 securities sank to their new 52-week lows. Among the sectoral indices, Nifty Auto and Nifty Oil& Gas were the biggest losers while Nifty PSU Bank and Nifty Realty were the only gainers. The broader market indices BSE Midcap and Small were down around 0.45% each, underperforming their larger peers.
Nifty Bank has registered weekly gains of 7 weeks in a row, highest in 3 years. Kotak Bank and Hero Motocorp were the top Nifty gainers while NBCC and Exide were the top Midcap gainers. Coal India and M&M were the biggest losers in the Nifty.
In Insider Buying and Selling, the promoters of Ashapura Minechem bought 8,000 shares through the open market. The immediate relative of Dhanlaxmi Bank sold 654,518 shares through the open market.
Frog Cellsat promoters bought 45,600 shares through the open market. Shakti Pumps promoters bought 12,717 shares through the open market. The promoters of Bombay Super Hybrid Seeds bought 70,800 shares through the open market.
PB Fintech gained more than 8% after foreign brokerage Morgan Stanley gave an overweight rating with a target price of Rs 620 per share.
Redington ended more than 3% higher after announcing a partnership with Enertech, a solar inverter manufacturing company.
