Shares end at the low point of the day; FMCG stocks decline. 21March2022

The domestic equity barometers ended at the day's low on Monday. The Nifty closed below the 17,150 level. Barring metals, most of the sectoral indices on the NSE ended in the red.

As per provisional closing data, the barometer index, the S&P BSE Sensex, fell 571.44 points or 0.99% to 57,292.49. The Nifty 50 index lost 169.45 points or 0.98% to 17,117.60.

In the broader market, the S&P BSE Mid-Cap index declined 0.68% while the S&P BSE Small-Cap index added 0.38%.

The market breadth was negative. On the BSE, 1561 shares rose and 1953 shares fell. A total of 144 shares were unchanged.

Buzzing Index:

The Nifty FMCG index slipped 1.84% to 36,106.85. The index had advanced 3.35% in the past three sessions.

Marico (down 3.83%), Britannia Industries (down 3.45%), Godrej Consumer (down 3.41%), Tata Consumer Products (down 3.10%) and United Breweries (down 2.73%) declined.

Further, Hindustan Unilever (down 2.41%), Nestle India (down 2.23%), Dabur India (down 1.80%), United Spirits (down 1.69%) and Radico Khaitan (down 1.11%) edged lower.

Stocks in Spotlight:

Reliance Industries (RIL) shed 0.49% to Rs 2467.55. Reliance Retail Ventures (RRVL), subsidiary of RIL and holding company of all the retail companies under the RIL Group, has announced acquisition of 89% equity stake in Purple Panda Fashions, which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment.

Atul advanced 1.28% to Rs 9837. The company said that a meeting of the board of directors will be held on 25 March 2022, to consider a proposal for buy-back of equity shares.

SMS Pharmaceuticals jumped 11.91% to Rs 108.05. The company received non-exclusive license to manufacture and supply of nirmatrelvir through the Medicine Patent Pool (MPP), an oral COVID-19 medicine developed by Pfizer.

Zydus Lifesciences fell 1.71% to Rs 366.80. The company received Prior Approval Supplement (PAS) approval from the USFDA to market Mycophenolate Mofetil for Injection USP (US RLD: CellCept injection).

Glenmark Pharmaceuticals added 2.67% to Rs 455.75. The company said that it has received final approval by the United States Food & Drug Administration (USFDA) for its lacosamide tablets.

Wockhardt zoomed 11.98% to Rs 327.25 after the company and Serum Life Sciences UK announced collaboration for manufacturing multiple vaccines in the United Kingdom. Serum Life Sciences UK is a subsidiary of the Serum Institute of India.

Strides Pharma Science jumped 5.04% to Rs 350.95 after the company announced d a sub-license agreement with Medicines Patent Pool (MPP) to commercialize a generic version of Pfizer's COVID-19 oral treatment in 95 low and middle-income markets.

Jindal Steel & Power (JSPL) gained 2.33% to Rs 488 after the steel maker said its wholly-owned subsidiary, Jindal Steel & Power (Mauritius), prepaid a $357 million loan to its lenders.

Avantel surged 13.86% to Rs 1041.10 after the company received an order for an amount $13,66,000 from Lockheed Martin Corporation. The order is for the supply of Satcom Equipment.

Aurobindo Pharma jumped 6.10% to Rs 679.30 after the company announced the signing of sub-license agreement for manufacturing a generic version of Pfizer's COVID-19 oral treatment nirmatrelvir.

Alembic Pharmaceuticals advanced 3.81% to Rs 754.15 after the drug company announced the receipt of final approval from the US Food & Drug Administration (USFDA) for its ANDA for Lacosamide Tablets.

Global Markets:

European stocks advanced while Asian markets ended mostly higher on Monday. Markets in Japan are closed today for a holiday.

Global markets continue to be roiled by events in Ukraine as the war continues. Ukraine's President Volodymyr Zelenskyy warned at the weekend that if peace talks with Russian leader Vladimir Putin fail, it would mean the start of a third global war.

Ukrainian and Russian officials have met intermittently for peace talks, which have failed to progress to key concessions.

Investors are also evaluating a rise in COVID-19 cases in Europe stemming from an emerging subvariant of the omicron strain of the virus.

China's one-year loan prime rate was kept unchanged at 3.7% on Monday. Investors have been watching for hints of policy support from Beijing following a Chinese state media report last week that reportedly signaled support for Chinese stocks.

Wall Street's three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.

Indices at day's low; Nifty slips below 17,150. 21March2022

Benchmark indices hit the day's low and traded with losses in early afternoon trade. The Nifty was trading below the 17,150 level. Metal, media and pharmaceutical stocks saw buying while banking and financial shares came under selling pressure.

The barometer index, the S&P BSE Sensex, was down 540.93 points or 0.934% to 57,323. The Nifty 50 index lost 163 points or 0.94% to 17,124.25.

In the broader market, the S&P BSE Mid-Cap index fell 0.37% while the S&P BSE Small-Cap index added 0.46%.

The market breadth was negative. On the BSE, 1543 shares rose and 1891 shares fell. A total of 145 shares were unchanged.

Gainers & Losers:

Coal India (up 4.7%), Hindalco Inds (up 2.62%), Maruti Suzuki (up 2.23%), ONGC (up 1.67%) and Tata Steel (up 1.49%) were top gainers in Nifty 50 index.

Britannia Inds (down 3%), Grasim Inds (down 2.83%), UltraTech Cement (down 2.65%), Tata Consumer Products (down2.53%) and SBI Life Insurance Company (down 2.44%) were top losers in Nifty 50 index.

Stocks in Spotlight:

Jindal Steel & Power (JSPL) gained 2.7% after the steel maker said its wholly-owned subsidiary, Jindal Steel & Power (Mauritius), prepaid a $357 million loan to its lenders. The company said that this prepayment will help clear the entire debt on Jindal Steel & Power (Mauritius) (JSPML). This loan had corporate guarantees from JSP India, which will also get released.

Avantel gained 3.35% to Rs 945 after the company has received an order for an amount $13,66,000 from Lockheed Martin Corporation. The order is for the supply of Satcom Equipment.

Alembic Pharmaceuticals advanced 3.97% to Rs 755.35 after the drug company announced the receipt of final approval from the US Food & Drug Administration (USFDA) for its ANDA for Lacosamide Tablets. The approved abbreviated new drug application (ANDA) is therapeutically equivalent to the reference listed drug product (RLD) Vimpat Tablets of UCB, Inc. Lacosamide Tablets are indicated for the treatment of partial-onset seizures in patients 4 years of age and older. It may not be indicated for certain other uses due to unexpired exclusivities for the RLD for such uses.

Nifty reclaims 17,250 level; broader market outperforms. 21March2022

The key equity barometers managed to pare most losses in mid morning trade. The Nifty was trading above the 17,250 mark. Pharma shares rose for the third consecutive session.

The barometer index, the S&P BSE Sensex, was down 81.81 points or 0.14% to 57,782.12. The Nifty 50 index lost 18.60 points or 0.11% to 17,268.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.29% while the S&P BSE Small-Cap index added 0.91%.

Buyers outnumbered sellers. On the BSE, 1787 shares rose and 1523 shares fell. A total of 158 shares were unchanged.

Buzzing Index:

The Nifty Pharma index added 1.35% to 13,728.30. The index has added 3.07% in three sessions.

Aurobindo Pharma (up 6.97%), Alembic Pharmaceuticals (up 3.64%), Granules India (up 3.53%), Pfizer (up 2.98%), Laurus Labs (up 2.75%) and Sun Pharma (up 1.75%) edged higher.

Simultaneously, Alkem Laboratories (up 1.57%), Cipla (up 1.18%), Lupin (up 1.17%), Biocon (up 0.97%) and Dr. Reddy's Labs (up 0.64%) advanced.

Glenmark Pharmaceuticals added 3.98% to Rs 461.55. The company said that it has received final approval by the United States Food & Drug Administration (USFDA) for its lacosamide tablets. According to IQVIA sales data for the 12 month period ending January 2022, the Vimpat Tablets market achieved annual sales of approximately $1.7 billion.

Zydus Lifesciences was up 0.16% to Rs 373.80. The company received Prior Approval Supplement (PAS) approval from the USFDA to market Mycophenolate Mofetil for Injection USP (US RLD: CellCept injection). Mycophenolate Mofetil is indicated for use in combination with other drugs i.e., cyclosporine and corticosteroids for the prophylaxis of organ rejection in patients receiving renal, hepatic or cardiac transplants.

Wockhardt jumped 13% to Rs 330.25 after the company and Serum Life Sciences UK announced collaboration for manufacturing multiple vaccines in the United Kingdom. Serum Life Sciences UK is a subsidiary of the Serum Institute of India.

Strides Pharma Science jumped 6.11% to Rs 354.50 after the company announced d a sub-license agreement with Medicines Patent Pool (MPP) to commercialize a generic version of Pfizer's COVID-19 oral treatment in 95 low and middle-income markets.

Global Markets:

Asian stocks were trading mixed on Monday, as investors reacted to the release of China's latest benchmark lending rate. Markets in Japan are closed on Monday for a holiday.

China's one-year loan prime rate was kept unchanged at 3.7% on Monday.

Wall Street's three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.

Shares Decline Further ; Metal Shares Outperform. 21March2022

 

The domestic equity benchmarks declined further in morning trade. The Nifty was trading below the 17,250 mark. Metal stocks, however, advanced for third day in a row.

The barometer index, the S&P BSE Sensex, was down 251.96 points or 0.44% to 57,611.97. The Nifty 50 index lost 65.80 points or 0.38% to 17,221.25.

In the broader market, the S&P BSE Mid-Cap index rose 0.03% while the S&P BSE Small-Cap index added 0.55%.

Buyers outnumbered sellers. On the BSE, 1724 shares rose and 1471 shares fell. A total of 145 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 1.33% to 6,266.05. The index has added 6.02% in three sessions.

National Aluminum Co. (up 3.60%), Hindalco Industries (up 3.20%), Welspun Corp (up 2.57%), APL Apollo Tubes (up 2.42%), Vedanta (up 2.60%) and Jindal Steel & Power (up 1.96%) edged higher. Concurrently, Hindustan Copper (up 1.53%), Tata Steel (up 1.31%), Hindustan Zinc (up 1.35%), SAIL (up 1.12%) and Coal India (up 1.07%) advanced.

Stocks in Spotlight:

SJVN rose 1.27% to Rs 27.85. The company said it has secured 100 MW grid connected solar power project in Gujarat. The project was secured through tariff based competitive bidding conducted by Gujarat Urja Vikas Nigam ('GUVNL'). The tentative cost of project development will be Rs 500 crore. A power purchase agreement between SJVN and GUVNL will be signed shortly.

Zydus Lifesciences shed 0.70% to Rs 370.60. The company received Prior Approval Supplement (PAS) approval from the USFDA to market Mycophenolate Mofetil for Injection USP (US RLD: CellCept injection). Mycophenolate Mofetil is indicated for use in combination with other drugs i.e., cyclosporine and corticosteroids for the prophylaxis of organ rejection in patients receiving renal, hepatic or cardiac transplants

Indices drift lower in early trade; strong market breadth. 21March2022

The domestic equity barometers traded with modest losses in early trade. The Nifty as trading below the 17,300 mark. Metals, IT and healthcare stocks advanced while FMCG, banks and financials shares declined.

The barometer index, the S&P BSE Sensex, was down 72.01 points or 0.12% to 57,791.92. The Nifty 50 index lost 14.25 points or 0.08% to 17,272.80.

Hindalco (up 3.69%), Maruti Suzuki (up 2.33%), Wipro (up 2.21%), ONGC (up 2.08%) and Tech Mahindra (up 1.52%) were the top Nifty gainers.

Asian Paints (down 1.57%), Power Grid Corp (down 1.18%), Grasim (down 1.16%), Kotak Mahindra Bank (down 0.99%) and Britannia Industries (down 0.96%) declined.

In the broader market, the S&P BSE Mid-Cap index shed 0.20% while the S&P BSE Small-Cap index added 0.22%.

Buyers outnumbered sellers. On the BSE, 1708 shares rose and 1004 shares fell. A total of 142 shares were unchanged.

Stocks in Spotlight:

Reliance Industries (RIL) shed 0.57% to Rs 2465.45. Reliance Retail Ventures (RRVL) announced acquisition of 89% equity stake in Purple Panda Fashions, which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment. The Founding team and management will own the balance stake in the company. RRVL is a subsidiary of RIL and holding company of all the retail companies under the RIL Group.

Atul advanced 1.77% to Rs 9885. The company said that a meeting of the board of directors will be held on 25 March 2022, to consider a proposal for buy-back of equity shares.

SMS Pharmaceuticals jumped 8.23% to Rs 104.50. The company received non-exclusive license to manufacture and supply of nirmatrelvir through the Medicine Patent Pool (MPP), an oral COVID-19 medicine developed by Pfizer.

Global Markets:

Asian stocks were trading mixed on Monday, as investors reacted to the release of China's latest benchmark lending rate. China's one-year loan prime rate was kept unchanged at 3.7% on Monday. Markets in Japan are closed on Monday for a holiday.

Wall Street's three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.

Indices hover near flat line; IT stocks decline. 15March 2022

The domestic equity barometers traded near the flat line in early afternoon trade after swinging between gains and losses earlier during the day. The Nifty traded below the 16,900 mark. IT stocks declined.

The barometer index, the S&P BSE Sensex, was down 1.05 points to 56,484.97. The Nifty 50 index lost 3.40 points or 0.02% to 16,867.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.56% while the S&P BSE Small-Cap index added 0.45%.

The market breadth was positive. On the BSE, 1,907 shares rose and 1,331 shares fell. A total of 129 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.41% to 26.04. The Nifty 24 February 2022 futures were trading at 16,871.30, at a premium of 3.4 points as compared with the spot at 16,867.90.

The Nifty option chain for 31 March 2022 expiry showed maximum Call OI of 23.2 lakh contracts at 18,000 strike price. Maximum Put OI of 46.8 lakh contracts were seen at 16,000 strike price.

Buzzing Index:

The Nifty IT index fell 1.05% to 35,650.50. The index had advanced 1.92% to end at 36,028.00 yesterday.

L&T Technology Services (down 2.69%), Larsen & Toubro Infotech (down 2.41%), Infosys(down 1.94%), MindTree (down 1.82%), Coforge (down 1.51%) and Tech Mahindra (down 1.05%) declined.

Stocks in Spotlight:

CreditAccess Grameen fell 1.43% to Rs 790.25. The company said that its board will meet on Wednesday, March 23, 2022, to consider the proposal of raising funds through public issue of non-convertible debentures (NCDs) in domestic market, in one or more tranches.

Manappuram Finance added 1.13% to Rs 116. The NBFC said that the board is scheduled to meet on Thursday, 17 March 2022, to consider and approve borrowing program including issuance of redeemable non-convertible debentures, notes, bonds (Debt Securities) in onshore/offshore market by way of private placement and/or public issue for FY 2022-23. The board will also discuss business plan for FY 2022-23.

Sensex, Nifty open higher; breadth strong. 15March2022

Equity indices traded with small gains in early trade. Barring metal and oil & gas sector, buying demand was seen across the board.

The barometer index, the S&P BSE Sensex, rose 82.35 points or 0.15% at 56,568.15. The Nifty 50 index gained 8.05 points or 0.04% at 16,879.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.43% while the S&P BSE Small-Cap index gained 0.61%.

The market breadth was strong. On the BSE, 1,795 shares rose and 683 shares fell. A total of 83 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 176.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,098.62 crore in the Indian equity market on 14 March, provisional data showed.

Stocks in Spotlight:

Reliance Industries (RIL) fell 0.59%. Reliance New Energy Limited (Reliance), a wholly owned subsidiary of Reliance Industries (RIL), signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV (Lithium Werks) for a total transaction value of $61 million including funding for future growth.

Persistent Systems rose 0.51%. The IT company announced it has entered into an agreement to acquire Princeton, New Jersey-based MediaAgility. MediaAgility is a global cloud transformation services provider with deep expertise building scalable, cloud-based solutions as a Google Cloud Premier Partner.

Global Markets:

Asian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors who are already worried about the Ukraine war and the first U.S. interest rate rise in three years, which could come this week.

Major US stock indexes closed mostly lower on Monday as investors sold tech and big growth names ahead of this week's Federal Reserve meeting and an expected hike in interest rates.

Wall Street kept an eye on the conflict between Russia and Ukraine, as the two countries resumed talks on Monday. A Ukrainian official reportedly said the country's objectives were to secure a ceasefire and an immediate withdrawal of Russian troops, along with other security guarantees. Hopes that talks between Russia and Ukraine due to resume on Tuesday could provide a resolution to the conflict prompted a sharp fall in global oil prices.

Fighting has intensified around Ukraine's capital, Kyiv, while Russian forces bombard cities across the country, killing civilians who are unable to escape.

Investors were also focused on the Fed, which is expected to raise its target fed funds rate by a quarter-percentage point from zero at the end of its two-day meeting Wednesday.