Barometers trade with significant cuts; IT stocks decline. 25March2022

The key equity barometers traded with significant cuts, near the day's low in mid-afternoon trade. The Nifty traded below the 17,150 level. IT shares witnessed some bit of profit booking after advancing in the past three sessions.

The barometer index, the S&P BSE Sensex was down 346.06 points or 0.60% to 57,249.62. The Nifty 50 index lost 104.45 points or 0.61% to 17,118.30.

In broader market, the S&P BSE Mid-Cap index fell 0.40% while the S&P BSE Small-Cap index slipped 0.24%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,321 rose and 2,027 shares fell. A total of 123 shares were unchanged.

Economy:

India's projected economic growth for 2022 has been downgraded by over 2% to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday.

The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6% from 3.6% due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.

Buzzing Index:

The Nifty IT index fell 1.34% to 36,028.85. The index had advanced 3.22% in the past three sessions.

Tech Mahindra (down 2.57%), L&T Technology Services (down 2.14%), Wipro (down 1.79%), TCS (down 1.33%), Coforge (down 1.16%), Infosys (down 1.11%), HCL Tech (down 0.99%), Mphasis (down 0.73%) and Larsen & Toubro Infotech (down 0.53%) declined.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.829% compared with 6.831% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 76.3350, compared with its close of 76.3900 during the previous trading session.

MCX Gold futures for 5 April 2022 settlement added 0.13% to Rs 51,833.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 98.74.

In the commodities market, Brent crude for May 2022 settlement shed 48 cents or 0.39% $122.08 a barrel.

Global Markets:

European markets edged lower while most Asian stocks traded lower on Friday.

Russian shares endured a wild ride on Thursday as they returned to limited trading after a month on the sidelines following the country's invasion of Ukraine, and subsequent punitive international sanctions.

The volatility looks set to continue, and the MOEX Russia Index pulled back in early trade in Moscow on Friday.

US stocks rose following choppy trading on Thursday, as investors watched western leaders present a unified front against Russia's invasion of Ukraine. Technology companies lifted US stock indices after a sharp fall in the previous session.

Global markets have been tracking negotiations over Russia's invasion of Ukraine closely, and Thursday saw a host of high-level meetings between world leaders and international bodies.

NATO committed extra troops along its eastern flank, the U.K. and U.S. rolled out more sanctions against Russian elites and officials, and the U.S. announced billions more in aid to Ukraine.

It comes as markets endure another choppy week, with a hawkish pivot from the U.S. Federal Reserve fueling bets that monetary policy will be tightened aggressively in a bid to rein in runaway inflation.

US President Joe Biden said Thursday that NATO would respond “in kind” if Russia uses weapons of mass destruction in Ukraine. The president spoke after a marathon of summit meetings with the European Union, G-7 partners and NATO allies. Biden also said he would support an effort to expel Russia from the G-20 group of economies.

 

Sensex, Nifty tumble to red zone; India VIX rises 1%. 23March2022

  

The benchmark indices slumped into the negative territory during early afternoon trade, as auto and financial service scrips dragged the market lower. The Nifty managed to hovered above 17,200 level.

The barometer index, the S&P BSE Sensex dropped 319.70 points or 0.55% at 57,669.60. The Nifty 50 index lost 85.20 points or 0.49% at 17,230.30.

The S&P BSE Mid-Cap index rose 0.30%. The S&P BSE Small-Cap index gained 0.16%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, shares 1,607 rose and 1,700 shares fell. A total of 118 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.40% to 24.4075. The Nifty 31 March 2022 futures were trading at 17,311.20, at a premium of 80.9 points as compared with the spot at 17,230.30.

The Nifty option chain for 31 March 2022 expiry showed maximum Call OI of 66.24 lakh contracts at the 18,000 strike price. Maximum Put OI of 95.92 lakh contracts was seen at 16,000 strike price.

Buzzing Index:

The Nifty Financial Services index fell 0.39% to 17,020.05. The index rose 0.89% in the previous session.

Muthoot Finance (down 1.94%), Kotak Mahindra Bank (down 1.64%), Housing Development Finance Corporation (HDFC) (down 1.62%), Mahindra & Mahindra (M&M) Financial Services (down 1.47%) and SBI Life Insurance Company (down 0.86%) were the losers in the Financial Services segment.

Markets drift higher in early trade; Paytm, Jubilant Foodworks down 10%. 14March2022

  

Equity indices traded higher with decent gains in early trade. The Nifty traded near the 16,700 mark. Banking and financial stocks saw buying demand while auto and FMCG shares came under selling pressure.

The barometer index, the S&P BSE Sensex, rose 169.62 points or 0.31% at 55,719.15. The Nifty 50 index gained 41.65 points or 0.25% at 16,672.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.17% while the S&P BSE Small-Cap index gained 0.4%.

The market breadth was strong. On the BSE, 1,726 shares rose and 758 shares fell. A total of 144 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,263.90 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,686.85 crore in the Indian equity market on 11 March, provisional data showed.

Stocks in Spotlight:

One97 Communications (Paytm) tumbled 10.4%.The Reserve Bank of India (RBI) directed Paytm Payments Bank to stop, with immediate effect, onboarding of new customers. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system. Paytm Payments Bank is one of the payment instruments of Paytm.

Tech Mahindra rose 1.17%.The IT company on Saturday announced that it has approved the proposal to acquire 100% equity shares in Thirdware Solutions. Thirdware, headquartered in Mumbai, is a global player in Enterprise Applications focused in the areas of ERP, BIA, Cloud and business technologies.

Jubilant FoodWorks slumped 10%. The pizza maker said that the board of directors has accepted the resignation of Pratik Rashmikant Pota as the CEO and wholetime director of the company as he wishes to pursue opportunities outside the firm.

Global Markets:

Asian stocks were trading mixed on Monday as investors monitor a Covid wave in China. Meanwhile, oil prices continued to be volatile amid the Russia-Ukraine war.

Investors continued watching developments on the Russia-Ukraine war, which is disrupting shipping and air freight. Elsewhere, markets also monitored a recent wave of Covid infections in China — including the major city of Shenzhen.

U.S. stocks dropped on Friday as the ongoing Russia-Ukraine conflict continued to unnerve investors. The U.S. government will revoke Russia's most-favored nation trade status amid the conflict, the White House said Friday, noting that it will work with Group of Seven (G7) countries and the European Union to roll out new sanctions.

In U.S. economic reports, data from the University of Michigan consumer sentiment survey showed a fall to an initial March reading of 59.7 from February's level of 62.8.

Sensex, Nifty trade with small losses; realty stocks in demand. 16February2022

 

The benchmark indices reversed early gains and were trading with minor cuts in morning trade. Banks stocks were under pressure. The Nifty was trading a tad below 17,350 mark.

The barometer index, the S&P BSE Sensex, fell 68.02 points or 0.12% at 58,074.03. The Nifty 50 index slipped 7.05 points or 0.04% at 17,345.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.58% while the S&P BSE Small-Cap index gained 1.04%.

The market breadth was strong. On the BSE, 2,273 shares rose and 857 shares fell. A total of 95 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,298.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,411.60 crore in the Indian equity market on 15 February 2022, provisional data showed.

Economy:

India's overall exports in January this year are estimated to be 61.41 billion dollars, exhibiting a positive growth of 36.76% over the same period last year and a positive growth of 38.90% over January 2020. Overall imports in January this year are estimated to be 67.76 billion dollars, exhibiting a slower rate of growth of 30.54% over the same period last year and a positive growth of 30.19% over January 2020.

India's overall exports in April to January 2021-22 are estimated to be 545.71 billion dollars. This is a positive growth of 37.68% over the same period last year and a positive growth of 23.29% over April-January 2019-20. Overall imports in April-January 2021-22 are estimated to be 616.91 billion, exhibiting a positive growth of 54.35% over the same period last year and a positive growth of 20.15% over April-January 2019-20.

New Listing:

Shares of Vedant Fashions (Manyavar) were currently trading at Rs 954.65 on BSE, at a premium of 10.24% as against the issue price of Rs 866. The scrip was listed at Rs 936, representing a premium of 8.08% to the initial public offer (IPO) price. So far, the scrip has hit a high of Rs 975.30 and a low of Rs 926.25. Over 2.91 lakh shares of the company have changed hands in the counter till now.

The initial public offer (IPO) of Vedant Fashions (Manyavar) was subscribed 2.57 times. The issue opened for bidding on 4 February 2022 and closed on 8 February 2022. The price band of the IPO was fixed at Rs 824-866 per share.

Buzzing Index:

The Nifty Realty index rose 1.71% to 458.40. The index gained 4.80% in two trading sessions.

Godrej Properties (up 3.39%), Macrotech Developers (Lodha) (up 2.85%), IndiaBulls Real Estate (up 2.59%), Oberoi Realty (up 2.10%) and Brigade Enterprises (up 1.91%) were the top gainers in the Realty segment.

Stocks in Spotlight:

Tech Mahindra rose 0.49%. The IT major said that its wholly owned subsidiary Tech Mahindra (Singapore) has approved the proposal to acquire 80% equity shares in Geomatic.AI. Tech Mahindra is creating a next-generation artificial intelligence firm Geomatic.AI to focus on digital platforms led non-linear growth, in partnership with AusNet Services, an Australian energy & utilities distributor. Geomatic.AI will build digital twins for linear assets leveraging cloud, drone and mobility technologies in the geospatial domain. As part of this deal, Tech Mahindra will have 80% equity shareholding in Geomatic.AI, for a cash consideration of 6 million Australian dollars (AUD).

Info Edge (India) lost 0.97%. The company said that it has entered into an agreement to acquire securities in Juno Learning (Juno) for an amount of about Rs 11.25 crore. Juno is engaged in the business, which is an interactive, online school that teaches sales techniques, processes, and tools to students and entry-level professionals in an experiential manner, to enhance employability. Juno is newly incorporated and is under first year of its operations. As part of the Info Edge's strategy, the investment would help the company create and consolidate its presence into a niche vertical of Sales upskilling. It perfectly fits into the company's playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses.

Indices make a positive start; breadth strong. 16February2022

 

The domestic indices drifted higher in early trade on buying demand in oil & gas, financial services and auto stocks.

The barometer index, the S&P BSE Sensex, rose 62.84 points or 0.11% at 58,204.89. The Nifty 50 index gained 28.15 points or 0.16% at 17,380.60.

In the broader market, the S&P BSE Mid-Cap index added 0.68% while the S&P BSE Small-Cap index rose 1%.

The market breadth was strong. On the BSE, 2,007 shares rose and 563 shares fell. A total of 77 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,298.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,411.60 crore in the Indian equity market on 15 February 2022, provisional data showed.

Stocks in Spotlight:

Tech Mahindra rose 0.83%. The wholly owned subsidiary of the company viz., Tech Mahindra (Singapore) Pte. has approved the proposal to acquire 80% equity shares in Australian artificial intelligence firm, Geomatic.ai Pty for a consideration of A$6 million. Geomatic.ai Pty is a company incorporated under Australian laws on 7 February 2022 and operates in the field of energy and utilities.

Burger King India gained 1.40%. The company has closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5% to the floor price of Rs 136.05 per share.

Torrent Power added 0.13%. The company has completed transaction of acquisition of 100% equity share capital of Visual Percept Solar Projects.

Global Markets:

Asian stocks are trading higher on Wednesday, as investors react to China's inflation data. Meanwhile, tensions appeared to ease between Russia and Ukraine, boosting markets.

China's consumer price index for January rose 0.9% as compared with a year ago, slightly lower than expectations. Chinese producer inflation for January was also below expectations. The producer price index for January rose 9.1% as compared with a year earlier.

Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session.

Russia's government announced Tuesday that Moscow is starting to return some troops at the Ukrainian border, though NATO's chief warned that the military alliance has so far not seen any sign of de-escalation on the ground from the Russian side.

Benchmarks hit the day's low; PSU bank fall for 2nd day. 04February2022

The domestic equity barometers edged lower as they hit the day's low in early afternoon trade. The Nifty was trading below the 17,500 level. PSU banks extended their decline for second consecutive session.

The barometer index, the S&P BSE Sensex, was down 276.31 points or 0.47% to 58,511.71. The Nifty 50 index lost 76.20 points or 0.43% to 17,484.

In the broader market, the S&P BSE Mid-Cap index fell 0.45% while the S&P BSE Small-Cap index shed 0.25%.

The market breadth was positive. On the BSE, 1,639 shares rose and 1,589 shares fell. A total of 103 shares were unchanged.

Primary Market:

The initial public offer (IPO) of Vedant Fashions (Manyavar) received bids for 19,64,588 shares as against 2,54,55,388 shares on offer, according to stock exchange data at 11:54 IST on Friday (4 February 2022). The issue was subscribed 8%.

The issue opened for bidding on 4 January 2022 and it will close on 8 February 2022. The price band of the IPO is fixed at Rs 824-866. An investor can bid for a minimum of 17 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU Bank index fell 1.15% to 3,015.75, extending its decline for the second day. The index has lost 1.64% in two sessions.

Indian Bank (down 2.80%), Punjab National Bank (down 1.88%), Central Bank of India (down 1.82%), Bank Of Baroda (down 1.73%), Bank of Maharashtra (down 1.67%), Indian Overseas Bank (down 1.62%), Jammu and Kashmir Bank (down 1.44%), Canara Bank (down 1.37%), UCO Bank (down 1.10%) and SBI (down 0.80%) declined.

Stocks in Spotlight:

Adani Power added 1.77% to Rs 109.50 after the company reported a consolidated net profit of Rs 218 crore in Q3 FY22 as against a net loss of Rs 289 crore in Q3 FY21. Total Income for Q3 FY 2022 was Rs 5,594 crore, down by 21% as compared to Rs 7,099 crore in Q3 FY 2020-21.

Sigachi Industries fell 2.45% to Rs 372.75. The company reported a 34.3% jump in consolidated net profit to Rs 9.55 crore in Q3 FY22 from Rs 7.11 crore posted in Q3 FY21. Net sales grew by 35.8% to Rs 65.59 crore in Q3 FY22 from Rs 48.30 crore registered in Q3 FY21.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 0.43% to 19.08. The Nifty 24 February 2022 futures were trading at 17,489.75, at a premium of 5.75 points as compared with the spot at 17,484.

The Nifty option chain for 24 February 2022 expiry showed maximum Call OI of 21.9 lakh contracts at the 18,000 strike price. Maximum Put OI of 42.5 lakh contracts was seen at 16,500 strike price.