Sensex, Nifty tumble as Russia-Ukraine tension worsens. 22February2022

  

The domestic indices traded with deep cuts in early trade, mirroring the weakness in global markets. The continued escalation of geopolitical tensions between Russia and Ukraine depressed the investor community. All sectoral indices on the NSE are trading in the red.

The barometer index, the S&P BSE Sensex, was down 1,021.46 points or 1.77% to 56,662.13. The Nifty 50 index slumped 289.80 points or 1.68% to 16,916.85.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 18% to 27.03.

In the broader market, the S&P BSE Mid-Cap index declined 1.47% while the S&P BSE Small-Cap index lost 2.10%.

The market breadth was weak. On the BSE, 334 shares rose and 2,403 shares fell. A total of 58 shares were unchanged.

Stocks in Spotlight:

Adani Enterprises fell 2.16% to Rs 1647.90. The Adani Group announced it has signed a non-binding Memorandum of Understanding (MoU) with Ballard Power Systems to evaluate a joint investment case for the commercialization of hydrogen fuel cells in various mobility and industrial applications in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.

Vedanta declined 2.21% to Rs 345.90. The company announced that it has made an oil discovery in its exploratory well in Rajasthan's Barmer district. The company holds 100% participating interest in the block.

Indiabulls Housing Finance was up 0.30% to Rs 167.25. The company informed that the Enforcement Directorate has sought some information regarding certain clients. The company and its officials have provided the data of clients to Enforcement Directorate.

Global Markets:

Asian stocks were trading lower on Tuesday as tensions surrounding Russia and Ukraine continue to keep investors on edge.

Russian President Vladimir Putin reportedly ordered forces into two breakaway regions of eastern Ukraine, following a Monday announcement that he would recognize their independence. After that development, the White House responded, with U.S. President Joe Biden ordering sanctions against the separatist regions of Ukraine.

U.S. markets were closed for a holiday on Monday.

Oil jumped to a seven-year high as Europe's eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.

Sensex, Nifty fall for fourth day amid negative global cues. 21February2022

Indices extended their losing run to fourth consecutive trading session on Monday. The Nifty closed just above the 17,200 mark after hitting a day's high of 17,351.05 in afternoon trade. The ongoing Russia-Ukraine conflict, rising crude oil prices and relentless selling by foreign portfolio investors (FPIs) continued to put pressure on domestic shares. In the commodities market, Brent crude for April 2022 settlement rose 45 cents at $93.99 a barrel.

However, investor's risk appetite improved after India's private weather forecaster, Skymet, said that it expects the upcoming Monsoon to be 'normal'.

As the provisional closing data, the S&P BSE Sensex, fell 149.38 points or 0.26% at 57,683.05. The Nifty 50 index lost 69.65 points or 0.4% at 17,206.45.

The broader market underperformed the main indices. The S&P BSE Mid-Cap index fell 0.8% while the S&P BSE Small-Cap index slipped 2.2%.

The market breadth was weak. On the BSE, 712 shares rose and 2773 shares fell. A total of 133 shares were unchanged.

Preliminary Monsoon Forecast Guidance for 2022:

Skymet, India's private weather forecasting solutions company, expects the upcoming Monsoon to be 'normal'. Skymet intends to release a detailed report on the prospects of Monsoon 2022 in April. Skymet has been predicting Monsoon since 2012, except in 2020 when it abstained for strategic reasons.

Monsoon has large inter-annual fluctuations in its arrival, intensity, duration, and withdrawal. It is rather early to decode all these aspects at this stage. However, there are precursors to get an early glimpse and gauge its health during the four-month-long season. The last two Monsoon seasons have been driven by back-to-back La Nina events, which has started shrinking now. It also means that Monsoon 2022 is going to be a devolving La Nina to start with and turn neutral later, it said in a statement.

Stocks in Spotlight:

Reliance Industries (RIL) lost 1%. Reliance Jio Infocomm (Jio), the subsidiary of RIL will land multi-terabit India-Asia-Xpress (IAX) undersea cable system in Hulhumale, Maldives. The high capacity and high-speed IAX system will connect Hulhumale' directly with World's major internet hubs in India and Singapore.

Capri Global Capital fell 0.33%. The company said it plans to enter the gold loan business and it will launch this business in the first half of the financial year 2022-23. The company aims to build a gold loan book size of Rs 8,000 crore and expand its network with 1500 branch locations over the next five years.

Power Finance Corporation (PFCL) rose 0.17%. Life Insurance Corporation (LIC) of India sold 5.35 crore equity shares or 2.028% stake of PFCL between 1 November 2017 and 17 February 2022. Post transaction, LIC has decreased its shareholding in PFCL to 5.069%.

White Organic Retail rose 3.7% after the company said its board will consider bonus share issue on 28 February 2022.

Tata Power fell 0.38%. RWE and Tata Power agreed on a partnership to explore the potential for a joint development of offshore wind projects in India. A Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy, a 100% subsidiary of Tata Power and one of India's largest integrated power companies, and RWE Renewables GmbH, one of the key player in offshore wind. The MoU between Tata Power Renewable Energy and RWE becomes significant in the light of the Government of India's announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030 to meet the country's growing power demands.

Equitas Small Finance Bank rose 3.84% after the company said it has raised Rs 550 crore in the qualified institutional placement of equities. The small finance bank sold 10,26,31,087 equity shares to qualified institutional buyers at the issue price of Rs 53.59 each, aggregating to Rs 5,49,99,99,952. The qualified institutions placement (QIP) Issue opened on 14 February 2022 and closed on 18 February 2022. The government of Singapore invested about Rs 155 crore while the Monetary Authority of Singapore put in Rs 36 crore. The balance Rs 359 crore was invested by Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund and HDFC Trustee Company. The QIP will reduce the promoters holding to 75% and raise public shareholding to a minimum of 25%, as stipulated by the market regulator Securities & Exchange Board of India.

The Phoenix Mills (PML) rose 0.82%. The company announced the execution of non‐binding term sheet to acquire balance 50% equity stake in Classic Mall Development Company (CMDCL) from Crest Ventures and Escort Developers, a 100% subsidiary of Crest Ventures. Currently, PML owns 50% stake in CMDCL while the balance 50% stake is owned by Crest Ventures (46.35%) and Escorts Developers (3.65%); completion of the stake purchase will make CMDCL a subsidiary of PML.

Kansai Nerolac Paints fell 1.06%. The paint maker appointed Anuj Jain as the managing director (MD) for a term of five years, with effect from 1 April 2022. Jain is a B.Sc. and Master of Management Studies, University of Bombay (Mumbai). Jain had joined Kansai Nerolac Paints on 4 June 1990 and was the director of Decorative and Industrial Sales & Marketing, prior to his appointment.

InterGlobe Aviation lost 1.4%. The aviation firm informed that Rakesh Gangwal, non-executive, non-independent director has tendered his resignation from the board of directors of the company vide his letter dated February 18, 2022, with immediate effect.

Gujarat Mineral Development Corporation rose 0.67%. The company has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 meters from its earlier approved depth of 94 meters at the Tadkeshwar, Lignite Mines.

Strides Pharma Science fell 2.96%. The drug company announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte., Singapore, received approval for Amantadine Hydrochloride Softgel capsules from the United States Food & Drug Administration. The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Symmetrel Capsules of Endo Pharmaceuticals, Inc (Endo). According to IQVIA MAT December 2021 data, the US market for Amantadine Hydrochloride Capsules USP,100 mg is approximately $11 million.

Global Markets:

European markets mildly traded higher while Asian markets declined on Monday, as investors continued to watch the situation surrounding Ukraine.

China on Monday held steady on a benchmark lending rate, with the one-year loan prime rate (LPR) kept unchanged at 3.7%. The five-year LPR was also kept unchanged at 4.6%.

Meanwhile, French President Emmanuel Macron and Russian leader Vladimir Putin on Sunday agreed to work for a ceasefire in eastern Ukraine, as per reports. They also agreed on the need to favour a diplomatic solution to the ongoing crisis and to do everything to achieve one, adding that both countries' foreign ministers would meet in the coming days.

US President Joe Biden is also willing to meet Russia's Vladimir Putin at any time to defuse Ukraine war tensions, as per reports, warning Russia appeared on the verge of invading its neighbor.

US stock market is closed on Monday for a holiday. Wall Street ended lower on Friday after escalating tensions in Ukraine and US warnings of a potential Russian invasion prompted investors to dump risky assets in the run-up to a long weekend.

Sensex down 460 points, Nifty barely holds 17,100 mark. 21February2022

  

Equity indices traded range bound with losses amid geopolitical concerns. The Nifty traded above the 17,100 mark. All sectoral indices traded with losses with realty, media and metal stocks losing the most.

Ongoing Russia-Ukraine conflict, rising crude oil prices and relentless selling by foreign portfolio investors (FPIs) continued to put pressure on domestic shares. In the commodities market, Brent crude for April 2022 settlement fell 22 cents at $93.32 a barrel.

The barometer index, the S&P BSE Sensex, dropped 460.92 points or 0.8% at 57,372.81. The Nifty 50 index lost 146.95 points or 0.85% at 17,129.80.

In the broader market, the S&P BSE Mid-Cap index declined 1.03% while the S&P BSE Small-Cap index lost 1.78%.

The market breadth was weak. On the BSE, 598 shares rose and 2,600 shares fell. A total of 140 shares were unchanged.

Buzzing Index:

The Nifty Metal index slipped 1.47% to 5,693, extending its losing run to fourth consecutive trading session. The metal index declined % in four days.

Coal India (down 4.01%), APL Apollo Tubes (down 2.09%), Hindalco Industries (down 1.97%), Vedanta (down 1.22%) and Hindustan Zinc (down 1.09%) were the top losers. Among the other losers were JSW Steel (down 0.85%), Tata Steel (down 0.75%), NMDC (down 0.7%) and Jindal Steel & Power (down 0.31%).

Stocks in Spotlight:

Kansai Nerolac Paints fell 1.16%. The paint maker appointed Anuj Jain as the managing director (MD) for a term of five years, with effect from 1 April 2022. Jain is a B.Sc. and Master of Management Studies, University of Bombay (Mumbai). Jain had joined Kansai Nerolac Paints on 4 June 1990 and was the director of Decorative and Industrial Sales & Marketing, prior to his appointment.

Strides Pharma Science fell 1%. The drug company announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte., Singapore, received approval for Amantadine Hydrochloride Softgel capsules from the United States Food & Drug Administration. The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Symmetrel Capsules of Endo Pharmaceuticals, Inc (Endo). According to IQVIA MAT December 2021 data, the US market for Amantadine Hydrochloride Capsules USP,100 mg is approximately $11 million.

Sensex, Nifty open lower amid negative global cues. 21February2022

The domestic indices traded lower in early trade, mirroring weak global cues. All sectoral indices on the NSE traded in the red.

The barometer index, the S&P BSE Sensex, dropped 521.8 points or 0.9% at 57,311.81. The Nifty 50 index lost 164.55 points or 0.95% at 17,111.80.

In the broader market, the S&P BSE Mid-Cap index declined 1.34% while the S&P BSE Small-Cap index lost 2.11%.

The market breadth was weak. On the BSE, 547 shares rose and 2,248 shares fell. A total of 118 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,529.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,929.08 crore in the Indian equity market on 18 February, provisional data showed.

Stocks in Spotlight:

InterGlobe Aviation lost 3%. The aviation firm informed that Rakesh Gangwal, non-executive, non-independent director has tendered his resignation from the board of directors of the company vide his letter dated February 18, 2022, with immediate effect.

Gujarat Mineral Development Corporation rose 0.04%. The company has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 meters from its earlier approved depth of 94 meters at the Tadkeshwar, Lignite Mines.

Global Markets:

Asian stocks were trading lower on Monday, as investors continued to watch the situation surrounding Ukraine.

China on Monday held steady on a benchmark lending rate, with the one-year loan prime rate (LPR) kept unchanged at 3.7%. The five-year LPR was also kept unchanged at 4.6%.

Meanwhile, French President Emmanuel Macron and Russian leader Vladimir Putin on Sunday agreed to work for a ceasefire in eastern Ukraine, as per reports. They also agreed on the need to favour a diplomatic solution to the ongoing crisis and to do everything to achieve one, adding that both countries' foreign ministers would meet in the coming days.

US President Joe Biden is also willing to meet Russia's Vladimir Putin at any time to defuse Ukraine war tensions, as per reports, warning Russia appeared on the verge of invading its neighbor.

Wall Street ended lower on Friday after escalating tensions in Ukraine and US warnings of a potential Russian invasion prompted investors to dump risky assets in the run-up to a long weekend.

Markets in the U.S. are closed on Monday for a holiday.

Shares bounce back; Nifty reclaims 17,300 level. 18February2022

 

The benchmark indices bounced back in mid-morning trade. At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 55.52 points or 0.10% at 57,947.53. The Nifty 50 index gained 10.30 points or 0.06% at 17,314.90.

In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index slipped 0.06%.

The market breadth was negative. On the BSE, 1,390 shares rose and 1,740 shares fell. A total of 134 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Buzzing Index:

The Nifty IT index slipped 0.40% to 34,497.10. The index shed 1.19% in three trading sessions.

Tech Mahindra (down 0.89%), Infosys (down 0.85%), Wipro (down 0.67%), HCL Technologies (down 0.46%) and Larsen & Toubro Infotech (LTI) (down 0.27%) were the top losers in the IT segment.

Stocks in Spotlight:

Ambuja Cements dropped 4.88%. The company recorded 49.4% fall in standalone net profit to Rs 252 crore despite a 6.1% increase in net sales to Rs 3,679 crore in Q4 CY2021 over Q4 CY2020. Sales volume (cement + clinker) in Q4 CY21 was 7.2 million tons (up 3% Y-o-Y). Cement demand remained subdued, especially in the month of November 2021. Realisation improved by 4% to Rs 5,135 per ton in Q4 CY21 from Rs 4,926 per ton in Q4 CY20. Improvement in realization was on account of favourable geo mix and product mix, the cement maker said. During the quarter and year ended 31 December 2021, there was an exceptional charge of Rs 65.69 crore on account of restructuring cost. EBITDA fell by 26% to Rs 568 crore in Q4 CY2021 from Rs 768 crore in Q4 CY2020.

Gensol Engineering hit an upper circuit limit of 5% to Rs 259.45 after the company said it bagged deals worth over Rs 70 crore for building solar power projects of around 24 MWp cumulative capacity in the states of Madhya Pradesh and Punjab. Gensol Engineering has received purchase orders for the development of grid-connected ground-mount and rooftop solar power generation systems cumulating to a capacity of around 24 megawatt peak (MWp) in the states of Punjab and Madhya Pradesh. The cumulative price of these projects is pegged at over Rs 70 crore.

Global Markets:

Most Asian stocks declined on Friday after an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion had investors looking for safety ahead of the weekend.

Russian-backed rebels and Kyiv's forces reportedly traded accusations that each had fired across a ceasefire line on Thursday and U.S. president Joe Biden said his sense was that a Russian invasion will happen in the next several days.

In the US, the number of Americans filing new claims for jobless benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended February 12.

Benchmarks trade with small cuts; Nifty below 17,300 mark. 18February2022

 

The benchmark indices were trading lower in morning trade, tracking negative global cues. Pharma, healthcare and IT stocks were under pressure. The Nifty was hovering a tad below 17,300 level.

The ongoing Russia-Ukraine crisis stands at a pivotal moment, with Kyiv accusing pro-Moscow separatists of attacking a village near the border. The crisis re-escalated following an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion.

The barometer index, the S&P BSE Sensex, fell 58.40 points or 0.10% at 57,833.61. The Nifty 50 index slipped 19.15 points or 0.11% at 17,285.45.

In the broader market, the S&P BSE Mid-Cap index skid 0.15% while the S&P BSE Small-Cap index lost 0.06%.

The market breadth was negative. On the BSE, 1,395 shares rose and 1,603 shares fell. A total of 126 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Buzzing Index:

The Nifty Pharma index declined 0.78% to 13,220.40. The index lost 1.52% in two trading sessions.

Gland Pharma (down 2.61%), Cipla (down 2.12%), Cadila Healthcare (down 1.63%), Aurobindo Pharma (down 1.52%) and Divi's Laboratories (down 1.41%) were the top losers in the Pharma segment.

Lupin slipped 0.11%. The company, on Thursday, announced that the USFDA has approved the company's supplemental New Drug Application to expand the use of SOLOSEC (secnidazole) in the treatment of bacterial vaginosis. The drug will be used for female patients 12 years of age and older and in the treatment of trichomoniasis for all patients 12 years of age and older. Bacterial vaginosis is a common vaginal infection and trichomoniasis is the most common non-viral, curable sexually transmitted infection in the U.S. Secnidazole oral granules is the first and only single-dose oral prescription approved to treat both bacterial vaginosis (BV), a common vaginal infection. The drug is designed to be easy to take and one oral dose contains a complete course of treatment.

Stocks in Spotlight:

CSB Bank advanced 3.26%. The bank said that the Reserve Bank of India (RBI) has approved the appointment of Pralay Mondal as the deputy managing director of the bank, for a period of three years. On June 8, 2021, the bank had announced the appointment of Pralay Mondal as the deputy managing director of the bank, subject to RBI's approval.

Hero MotoCorp lost 0.41%. The two-wheeler major has inaugurated its new dealership - Surya Hero in Jaipur, Rajasthan. Surya Hero will act as a one-stop-shop for all the sales and customer service requirements, in addition to offering the latest range of Hero-branded merchandise and accessories at the dealership.

Sensex, Nifty nudge lower in early trade; breadth weak. 18February2022

 

The domestic equities suffered modest losses in early trade, mirroring weak global cues. IT and pharma stocks fell.

The barometer index, the S&P BSE Sensex, dropped 152.20 points or 0.26% at 57,739.81. The Nifty 50 index lost 82.80 points or 0.48% at 17,221.80.

In the broader market, the S&P BSE Mid-Cap index declined 0.34% while the S&P BSE Small-Cap index fell 0.39%.

The market breadth was weak. On the BSE, 624 shares rose and 1,030 shares fell. A total of 80 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February 2022, provisional data showed.

Stocks in Spotlight:

Ambuja Cements dropped 3.92%. The company reported 55% fall in consolidated net profit to Rs 431 crore on 2.1% rise in net sales to Rs 7,503 crore in Q4 CY21 over Q4 CY20.

Lupin lost 0.20%. Lupin Pharmaceuticals Inc., (Lupin) announced that the U.S. Food and Drug Administration approval of the Supplemental New Drug Application for SOLOSEC (secnidazole) in adolescents for both the treatment of bacterial vaginosis in females and trichomoniasis.

Birla Corporation rose 0.12%. The company informed that it has approved the allotment of 1,500 (AA) rated, listed, secured, redeemable Non- Convertible Debentures of Rs 10 lakh each aggregating to Rs. 150 crore on private placement basis.

Easy Trip Planners declined 0.55%. The company has fixed 2 March 2022 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issue of bonus equity shares of the company in the proportion of one equity share of Rs 2 each for each equity share held.

Global Markets:

Most Asian stocks edged lower on Friday after an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion had investors looking for safety ahead of the weekend.

US stocks slumped Thursday amid heightened tensions between Russia and Ukraine with confused investors dumping risky assets and rotating into bonds.

Russian-backed rebels and Kyiv's forces reportedly traded accusations that each had fired across a ceasefire line on Thursday and U.S. president Joe Biden said his sense was that a Russian invasion will happen in the next several days.

The number of Americans filing new claims for jobless benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended February 12.