Indices advance in early trade; breadth strong. 03March2022

 

The benchmark indices are trading higher in early trade, mirroring the gains in their Asian peers. Oil & gas, IT and metal stocks led the upmove.

The barometer index, the S&P BSE Sensex, was up 309.23 points or 0.56% to 55,778.13. The Nifty 50 index added 100.90 points or 0.61% to 16,706.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.80% while the S&P BSE Small-Cap index gained 1.21%.

The market breadth was strong. On the BSE, 2219 shares rose and 366 shares fell. A total of 74 shares were unchanged.

Stocks in Spotlight:

Vedanta added 0.25% to Rs 388.30. The mining major has declared a third interim dividend for the fiscal year 2021-22 of Rs 13 per equity share. The record date for the purpose of payment of the dividend is 10 March 2022.

UPL rose 0.44% to Rs 692.10. The agri-chemicals major has announced its board has approved the proposal to buy back fully paid-up equity shares from shareholders (other than the promoters, the promoters group, and persons in control of the company), for an aggregate amount not exceeding Rs 1,100 crore, the maximum buyback size. The company's board has proposed a share buyback plan at Rs 875 per share.

Hind Rectifiers jumped 4.04% to Rs 190.50. The company has secured orders of Rs. 57.32 crore in the month of February 2022.

Global Markets:

Shares in Asia-Pacific were largely higher in Thursday trade as U.S. stocks bounced back overnight. Oil prices, however, continued to move higher following a price surge in recent days.

A private survey released Thursday showed slowing Chinese services activity growth in February, with the Caixin/Markit services Purchasing Managers' Index coming in at 50.2 for that month. That compared against January's reading of 51.4.

The 50-point mark in PMI readings separates growth from contraction. PMI readings are sequential and represent month-on-month expansion or contraction.

Investors continued monitoring movements in the oil market, with crude prices spiking to their highest level in years on Wednesday, amid Russia's escalating war on Ukraine.

The sanctions imposed on Russia have caused traders to back away from its resources, stoking fears of shortfalls in energy, grains and metals.

Meanwhile, the OPEC and its allies decided Wednesday to hold production steady despite the recent dramatic spike in oil prices.

U.S. equities were higher at the close on Wednesday, as gains in the basic materials, financials and oil & gas sectors propelled shares higher.

Federal Reserve Chair Jerome Powell backed a quarter-point interest-rate hike this month to commence a series of increases and didn't rule out a larger move at some stage, despite uncertainty caused by Russia's invasion of Ukraine.

Fed officials are pivoting to tackle the fastest inflation in 40 years and a few have publicly discussed the potential need to hike by a half point some time this year if inflation comes in too hot.

Shares trade lower; market breadth positive. 02March2022

  

The key equity benchmarks traded lower in early trade amid significant selling in many index stocks. While metals and oil & gas stock advanced, banks, financials and auto stocks edged lower.

The barometer index, the S&P BSE Sensex, was down 603.59 points or 1.07% to 55,643.69. The Nifty 50 index lost 162.70 points or 0.97% to 16,631.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% while the S&P BSE Small-Cap index added 0.34%.

The market breadth was positive. On the BSE, 1397 shares rose and 1146 shares fell. A total of 109 shares were unchanged.

Economy:

India's GDP growth slowed down to 5.4% in October-December 2021 from 8.5% in the previous quarter, data released on February 28 by the Ministry of Statistics and Programme Implementation showed. The statistics ministry also said India's GDP will likely grow by 8.9% in FY22, down from its first advance estimate of 9.2%, released in early January 2022.

Goods and Services Tax (GST) collections for February declined to Rs 1.33 lakh crore, down 5.6% from the first month of 2022, data released on March 1 by the finance ministry showed.

February Auto sales:

Maruti Suzuki India fell 2.71% to Rs 8087.35. The company recorded total sales of 1,64,056 units in February 2022, down 0.25% as against 1,64,469 units sold in February 2021.

Tata Motors shed 0.94% to Rs 449.90. The company's sales in the domestic & international market for February 2022 stood at 77,733 vehicles as compared to 61,258 units during February 2021, recording a growth of 26.89%.

Ashok Leyland declined 0.72% to Rs 117.90. The Hinduja Group company's sales grew 7% to 14,657 units in February 2022 from 13,703 units sold in February 2021.

Eicher Motors fell 1.22% to Rs 2554.70. VE Commercial Vehicles (VECV), Eicher's unlisted subsidiary, sold 5,856 units of commercial vehicles in February 2022, registering a rise of 7.3% year on year from 5,457 units in February 2021.

Eicher Motors' total motorcycles (Royal Enfield) sales dropped 15% to 59,160 units in February 2022 as against 69,659 units sold in the same period last year.

Escorts added 0.50% to Rs 1861.30. The company's total tractor sales declined by 45.6% YoY to 6,114 units in February 2022 from 11,230 units sold in February 2021.

Hero MotoCorp were down 2.80% at Rs 2465.30. The two-wheeler major sold 3,58,254 units of motorcycles and scooters in February 2022, which is lower by 29.12% compared with 5,05,467 units sold in February 2021.

Global Markets:

Asian stocks are trading mixed on Wednesday as the ongoing Russia-Ukraine conflict continued to lead to a surge in oil prices.

Oil prices rose on Wednesday as sanctions on Russian banks following Moscow's invasion of Ukraine hampered trade finance for crude shipments and some traders opted to avoid Russian supplies in an already tight market. Brent crude futures climbed above $108 a barrel, scaling highs not seen since July 2014.

Wall Street ended sharply lower on Tuesday, with financial stocks bearing much of the damage for a second straight day as the Russia-Ukraine crisis deepened and stirred anxiety among investors.

Investors are also gearing up to hear from Federal Reserve Chair Jerome Powell in his semiannual hearing at House Committee on Financial Services, which begins on Wednesday. Investors will be watching closely for his comments on potential rate hikes, as market expectations for hikes this year has eased slightly since Russia's invasion.

Barometers trade with minor cuts; auto shares decline. 28February2022

  

The domestic equity benchmarks further pared losses in mid-morning trade. The Nifty marched towards the 16,550 mark. Auto shares declined. The continued escalation of the Russia Ukraine conflict and its consequent global economic fallout weighed on investor sentiment.

The barometer index, the S&P BSE Sensex, was down 246.33 points or 0.44% to 55,612.19. The Nifty 50 index lost 65.10 points or 0.39% to 16,593.30.

In the broader market, the S&P BSE Mid-Cap index declined 0.17% while the S&P BSE Small-Cap index rose 0.08%.

The market breadth was negative. On the BSE, 1595 shares rose and 1628 shares fell. A total of 169 shares were unchanged.

Economy:

The Government has permitted up to 20% Foreign Direct Investment (FDI) under automatic route in Life Insurance Corporation of India (LIC) with an aim to facilitate disinvestment of the country's largest insurer.

The Department for Promotion of Industry and Internal Trade (DPIIT) had mooted the proposal to allow FDI in LIC, after taking views from the Ministry of Finance. The much-awaited initial public offering, IPO of LIC is expected to hit the market in March and LIC's employees and policyholders would get a discount over the floor price.

Buzzing Index:

The Nifty Auto index fell 1.09% to 10,776.45. The index had advanced 2.69% to close at 10,895.30 on Friday.

Eicher Motors (down 2.59%), TVS Motor Company (down 2.21%), Maruti Suzuki (down 1.58%), Hero MotoCorp (down 1.43%), Tata Motors (down 1.25%), Bharat Forge (down 1.25%), Mahindra & Mahindra (down 0.90%) declined while Ashok Leyland (up 0.34%) and Bajaj Auto (up 0.22%) advanced.

Stocks in Spotlight:

Aurionpro Solutions fell 2.65% to Rs 282.50. Singapore-based SC Soft, an Aurionpro subsidiary, announced an order win to design, develop & supply on-board validators supporting the up-gradation to EMV open-loop ticketing for the 200 pilot buses in Costa Rica. The order is valued at $225,000 which covers the supply of equipment and implementation by the end of Q2-2022, followed by the maintenance & support post-warranty.

Zen Technologies shed 0.25% to Rs 195.85. The company said that it secured an export order for the supply of training equipment worth approximately Rs 13.5 crore.

SJVN rose 1.60% to Rs 28.60. The company announced that the Ministry of New and Renewable Energy, Government of India has granted in-principle approval for development of 400MW solar park at Kinnaur district in Himachal Pradesh.

Global Markets:

Asian stocks were trading higher on Monday. Investors continued to monitor the Russia-Ukraine crisis and related sanctions. Taiwan markets are closed for a holiday on Monday.

Russia continued its advance into Ukraine over the weekend, with reports of fighting on the streets and forces encircling Kyiv. President Vladimir Putin on Sunday put his country's deterrence forces, which reportedly include nuclear capabilities, on high alert in response to international backlash to Russia's invasion.

The U.S. and its allies announced new sanctions and measures to hit Russia, such as removing selected Russian banks from the interbank messaging system, SWIFT. Many countries have also said they will close their airspace to Russian aircraft.

On the diplomatic front, representatives from the Ukraine and Russian governments have agreed to meet at the Ukraine-Belarus border with no preconditions, as per reports. Belarus, which shares a border with both Ukraine and Russia, has close ties with Moscow.

US stocks climbed Friday as investors continued to assess the financial risks stemming from Russia's invasion of Ukraine.

On the data front, the Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 2.1% last month after falling 0.8% in December.

Shares drop in early trade; weak market breath. 28February2022

 

The key equity indices tumbled in early trade amid across the board selling in index pivotals. All the sectoral indices on the NSE were currently in the red. Financials, banks, autos and realty shares declined the most.

The barometer index, the S&P BSE Sensex, was down 852.94 points or 1.53% to 55,005.58. The Nifty 50 index lost 246.30 points or 1.48% to 16,412.10.

In the broader market, the S&P BSE Mid-Cap index declined 1.39% while the S&P BSE Small-Cap index fell 1.65%.

The market breadth was weak. On the BSE, 653 shares rose and 2061 shares fell. A total of 140 shares were unchanged.

Stocks in Spotlight:

Bharti Airtel fell 2.39% to Rs 672. The telecom major on Friday said it has entered into an agreement with Vodafone Group Plc. to buy 4.7% equity in Indus Towers. The financial details of the deal have not been disclosed.

Hindalco Industries added 0.68% to Rs 537.45. The company has entered into a Share Purchase Agreement ('SPA') with Terrabel Empreedimentos Ltda , a Brazilian firm to divest entire equity shareholding in Hindalco Do Brazil Industria Comercia de Alumina LTDA (HDB) - Wholly owned step down subsidiary of Hindalco Industries.

IRCON International rose 0.25% to Rs 40.20. The company has been appointed as a 'project implementation agency' for a road project in Myanmar by the Ministry of External Affairs (MEA), Government of India.

Meanwhile, Government has permitted up to 20% Foreign Direct Investment (FDI) under automatic route in Life Insurance Corporation of India (LIC) with an aim to facilitate disinvestment of the country's largest insurer.

Department for Promotion of Industry and Internal Trade (DPIIT) had mooted the proposal to allow FDI in LIC, after taking views from the Ministry of Finance. The much-awaited initial public offering, IPO of LIC is expected to hit the market in March and LIC's employees and policyholders would get a discount over the floor price.

Global Markets:

Asian stocks are trading mixed on Monday as investors monitor the Russia-Ukraine crisis and related sanctions. Taiwan markets are closed for a holiday on Monday.

Russia continued its advance into Ukraine over the weekend, with reports of fighting on the streets and forces encircling Kyiv. President Vladimir Putin on Sunday put his country's deterrence forces, which reportedly include nuclear capabilities, on high alert in response to international backlash to Russia's invasion.

The U.S. and its allies announced new sanctions and measures to hit Russia, such as removing selected Russian banks from the interbank messaging system, SWIFT. Many countries have also said they will close their airspace to Russian aircraft.

On the diplomatic front, representatives from the Ukraine and Russian governments have agreed to meet at the Ukraine-Belarus border with no preconditions, as per reports. Belarus, which shares a border with both Ukraine and Russia, has close ties with Moscow.

US stocks climbed Friday as investors continued to assess the financial risks stemming from Russia's invasion of Ukraine.

On the data front, the Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 2.1% last month after falling 0.8% in December.

Sensex soars 1149 pts, Nifty above 16,600 mark; breadth strong. 25February2022

Key equity barometers surged in early trade amid bargain hunting after yesterday's slump. All the sectoral indices on the NSE rallied. PSU banks, metals and realty shares surged.

The barometer index, the S&P BSE Sensex, surged 1,148.86 points or 2.11% to 55,678.77. The Nifty 50 index jumped 355 points or 2.18% to 16,602.95. Both the indices slumped over 6.2% in the past seven consecutive sessions.

In the broader market, the S&P BSE Mid-Cap index spurted 3.40% while the S&P BSE Small-Cap index surged 3.88%.

Sellers outpaced buyers. On the BSE, 2308 shares rose and 559 shares fell. A total of 89 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 6,448.24 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 7,667.75 crore in the Indian equity market on 24 February, provisional data showed.

Economy:

American credit rating agency, Moody's Investors Service has raised India's growth forecast to 9.5% from 7% for the calendar year 2022, citing a stronger-than-expected economic recovery from the national lockdown of 2020 and the second wave of the COVID-19 pandemic in mid-2021.

Moody's said in a statement that they have raised the 2022 calendar year growth forecasts for India and maintained the forecast for 5.5% growth in 2023. This translates into 8.4% growth in fiscal year 2022-23 and 6.5% growth in fiscal year 2023-24. However, it flagged high oil prices and supply distortions as a drag on growth.

It said, Indian economy is estimated to have surpassed the pre-COVID level of GDP by more than 5% in the last quarter of 2021 and added that sales tax collection, retail activity and PMIs suggest solid momentum.

The Agency said, 2022 Budget prioritised growth, with a 36 percent increase in allocation to capital expenditure to 2.9% of GDP for the fiscal year 2022-23. It said, with the RBI leaving interest rates unchanged at its February meeting, monetary policy remains supportive.

Stocks in Spotlight:

Linde India jumped 4.37%. On a consolidated basis, net profit of Linde India rose 19.42% to Rs 67.83 crore on 35.49% rise in net sales to Rs 644.15 crore in Q4 December 2021 over Q4 December 2020. The board recommended a total dividend of Rs 13.50 per share. It includes a special dividend of Rs 10 per share.

Cupid rose 3.16%. The company on Thursday announced that it received a purchase order from United Nations Population Fund (UNFPA) for supply of male condoms worth Rs 4.25 crore and water based lubricant worth Rs 1.01 crore.

Wipro rose 3.37%. The company on Thursday announced that it will be hiring more than 500 new professionals over the next fiscal year to support its growth in delivering cloud solutions to clients.

Infosys rose 2.16%. The IT major has launched Infosys metaverse foundry to ease and fasttrack enterprises' exploration of the metaverse, including virtual and augmented environments, for their customers, workplace, products and operations.

NHPC rose 1.28%. NHPC has signed a facility agreement with HDFC Bank to securitize the RoE of Chamera-I Power Station for a tenor of 10 years. The amount of Securitization facility has been arrived Rs 1,016.39 crore at 5.24% p.a. discounting rate linked with 3 months T-Bills.

Seacoast Shipping Services spurted 7.58%. The board of directors has taken note of acceptance mail received from the Government of Gujarat for the proposal of the company to work with the Government of Gujarat in joint venture.

Arihant Capital Markets rose 3.95%. The company's board will on 3 March 2022 consider an interim dividend for the financial year 2021-22 and sub-division of face value of equity shares of the company from Rs 5 per share to Re 1 per share.

Hazoor Multi Projects jumped 4.85%. The company has received letter of intent from Gayatri Projects for completion of balance work of Chainage in district Ahmednagar, Maharashtra on engineering, procurement and construction (EPC) mode.

Global Markets:

Overseas, Asian stocks rose on Friday as investors assessed the Russia-Ukraine conflict following a massive comeback on Wall Street overnight.

US stocks ended sharply higher on Thursday in a dramatic market reversal as US President Joe Biden unveiled harsh new sanctions against Russia after Moscow began an all-out invasion of Ukraine.

U.S. President Joe Biden on Thursday said Washington will seek to isolate Russia from the global economy by introducing new sanctions following Moscow's invasion of Ukraine. The White House has also authorized additional troops to be stationed in Germany as NATO allies look to bolster defenses in Europe, Biden said.

The European Union also agreed to more sanctions on Russia, calling on the country to stop all military action and withdraw its forces.

रूस-यूक्रेन युद्ध शुरू होने के साथ ही इक्विटी दिन के निचले स्तर पे | 24February2022

 

The benchmark indices extended major losses during afternoon trade amid weak global cues. All the sectoral indices on the NSE were in the red. The Nifty traded below 16,500 level.

The barometer index, the S&P BSE Sensex, tumbled 1,926.73 points or 3.37% at 55,305.33. The Nifty 50 index slumped 596.10 points or 3.49% at 16,467.15.

Reliance Industries (RIL) (down 3.28%), HDFC Bank (down 3.33%) and Infosys (down 3%) dragged the market.

Broader markets dragged substantial losses. The S&P BSE Mid-Cap index skid 4.56%. The S&P BSE Small-Cap index dropped 4.99%.

Sellers outnumbered the buyers. On the BSE, 224 shares rose and 3,094 shares fell. A total of 87 shares were unchanged.

Trading sentiment took a hit after Russian President Vladimir Putin said in a public address that he had authorized a military operation in Ukraine. Later the media reported explosions were heard in Kyiv. Putin appealed to Ukrainian soldiers to lay down their arms and go home. He said Russia doesn't plan to “occupy” its southern neighbour, but that Russia must “defend itself from those who took Ukraine hostage” -- the U.S. and its allies who had crossed Russia's “red line” with expansion of the NATO alliance.

India has called for an immediate de-escalation of tensions between Russia and Ukraine. India's Permanent Representative UN, TS Tirumurti cautioned that the situation is in danger of spiraling into a major crisis. He was addressing an emergency meeting of UN Security Council held on Ukraine this morning. This was the second meeting of UNSC this week and the fourth since January 31 as tensions escalated between Russia and Ukraine. Tirumurti emphasized sustained and focused diplomacy to address all issues concerning the situation.

Meanwhile, UN Secretary-General Antonio Guterres made a direct appeal to President Putin to stop Russian troops from attacking Ukraine.

Gainers & Losers:

Hindalco Industries (up 0.63%) was the major gainer in Nifty 50 index.

Tata Motors (down 7.47%), Hero MotoCorp (down 7.47%), UPL (down 6.73%), IndusInd Bank (down 5.97%) and Grasim Industries (down 5.36%) were major losers in Nifty 50 index.

Stocks in Spotlight:

Piramal Enterprises dropped 5.07%. On Monday, 28 February 2022, the company said that it will consider and approve the issue of secured, rated, listed, redeemable NCDs up to Rs 100 crore along with an option to retain oversubscription up to Rs 400 crore. The total size will aggregate up to Rs 500 crore, on a private placement basis.

L&T Finance Holdings dropped 9.03%. CitiGroup Global Markets Mauritius and CBNA London sold 6.39 crore equity shares or 4.88% stake of the company on 21 February 2022. Post transaction, CitiGroup Global Markets Mauritius and CBNA London decreased its shareholding to 3.87% stake from 8.75% stake held in L&T Finance Holdings. The deal was executed as secondary market sale.

Windsor Machines tumbled 9.91%. The company developed a new product called SPRINT- 800 for manufacturing thermoplastic products and is ready to be launched in domestic as well as international markets.

रूस-यूक्रेन संघर्ष के बीच सेंसेक्स 1359 अंक नीचे। 24February 2022

  

Benchmark indices opened lower and traded with major losses in early trade as Russia announced military action in Eastern Ukraine. The Nifty traded above the 16,650 level.

The barometer index, the S&P BSE Sensex, declined 1,359.79 points or 2.38% to 55,872.27. The Nifty 50 index fell 397.4 points or 2.33% to 16,665.85.

In the broader market, the S&P BSE Mid-Cap index fell 2.54% while the S&P BSE Small-Cap index slumped 3.04%.

Sellers outpaced buyers. On the BSE, 270 shares rose and 2208 shares fell. A total of 75 shares were unchanged.

Indices will also face a bout of volatility on account of monthly F&O expiry today.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,417.16 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,024.37 crore in the Indian equity market on 23 February, provisional data showed.

Stocks in Spotlight:

Wipro fell 2.47%. The IT major announced that it has joined the global partnership network of o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making.

Indus Towers slumped 8.7%. Vodafone PLC is reportedly likely to sell 2.4% stake in the company worth $200 million. The stake sale will take place through a block deal today and offer range is Rs 227-231 per share.

Piramal Enterprises was down 4.19%. The company's board of directors will meet on February 28 to consider and approve the issue of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures up to Rs. 100 crores along with an option to retain oversubscription up to Rs. 400 crores, the total size aggregating up to Rs. 500 crores, on a private placement basis.

Global Markets:

Asian stocks fell on Thursday as investors continue to watch the escalating situation between Russia and Ukraine.

The Bank of Korea kept interest rates unchanged at 1.25% at its meeting on Thursday. However, it predicted that consumer price inflation will run “substantially above 3% for a considerable time.”

US stocks fell sharply once again Wednesday, as escalating tensions between Russia and Ukraine push the major averages to fresh lows for the year so far.

Investors have been juggling brewing tensions between Russia and Ukraine. Ukraine warned its citizens against traveling to Russia and to leave the neighboring country, if they are there. Meanwhile, the UK said that it was ready to impose more sanctions on Russia.

Meanwhile, the Biden administration announced it will allow sanctions to move forward on the company in charge of building Russia's Nord Stream 2 gas pipeline, following a first tranche of sanctions against Russia Tuesday that targets Russian banks, the country's sovereign debt and three individuals.