Broader market outperforms; FMCG shares edge lower. 25March2022

 

The domestic equity barometers continued to trade with small losses in mid-morning trade. The Nifty was trading below the 17,200 mark. FMCG shares were under pressure.

The barometer index, the S&P BSE Sensex, was down 145.51 points or 0.25% to 57,450.17. The Nifty 50 index lost 41.20 points or 0.24% to 17,181.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.26%.

Buyers outnumbered sellers. On the BSE, 1647 shares rose and 1539 shares fell. A total of 137 shares were unchanged.

Buzzing Index:

The Nifty FMCG index shed 0.77% to 35,521.20. The index has advanced 0.02% to end at 35,797.15 yesterday.

Tata Consumer Products (down1.70%), ITC (down 1.24%), Nestle India (down 1.20%), Marico (down 0.91%), Godrej Consumer (down 0.65%), United Spirits (down 0.56%) and Hindustan Unilever (down 0.53%) declined.

Stocks in Spotlight:

Multi Commodity Exchange of India (MCX) rose 2.12% to Rs 1452.25 after the market regulator SEBI allowed exchanges having a commodity derivative segment to facilitate trading in options on commodity indices.

Bharti Airtel advanced 0.47% to Rs 709.55. The telecom company on Friday announced that it has paid Rs 8,815 crore to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015. The prepayment is for instalments due in FY 2027 and FY 2028.

In the past four months, Bharti Airtel has settled Rs 24,334 crore of its deferred spectrum liabilities much ahead of scheduled maturities. These liabilities carried an interest rate of 10% and have been paid off through a combination of strong free cash generated by business, equity proceeds and significantly lower cost debt of similar tenor.

Global Markets:

Most Asian stocks traded lower 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.

Investors are continuing to monitor the war in Ukraine and weigh the Federal Reserve's rate hikes amid persistent inflation. NATO leaders met in Brussels Thursday to discuss increasing pressure on Russia, as Ukraine appears to be retaking ground in the war.

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.

Shares near the day's low; realty stocks in demand. 25March2022

  

The key equity benchmarks traded near the day's low in morning trade. The Nifty was trading below the 17,200 mark. Realty stocks outperformed for second day in a row.

The barometer index, the S&P BSE Sensex, was down 116.51 points or 0.20% to 57,479.17. The Nifty 50 index lost 37.20 points or 0.22% to 17,185.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.31%.

Buyers outnumbered sellers. On the BSE, 1724 shares rose and 1308 shares fell. A total of 155 shares were unchanged.

Buzzing Index:

The Nifty Realty index rose 0.96% to 448. The index has added 1.46% in two sessions.

Prestige Estates (up2.26%), Godrej Properties (up 1.90%), DLF (up 0.90%), Oberoi Realty (up 0.69%), Indiabulls Real Estate (up 0.62%) and Sobha Developers (up 0.50%) advanced.

Macrotech Developers (down 1.99%), Brigade Enterprises (down 0.63%), The Phoenix Mills (down 0.57%) and Sunteck Realty (down 0.31%) declined.

Stocks in Spotlight:

GTPL Hathway rose 1.76% to Rs 197.05. The company announced its partnership with Verimatrix to onboard its Video Content Authority System (VCAS) to protect its Google Android TV-based DVB Hybrid set top box.

Lumax Auto Technologies added 0.78% to Rs 180.90. The application filed by the company along with its subsidiaries under the Production Linked Incentive (PLI) Scheme for automobile and auto component industry (PLI-AUTO) has been approved by IFCI.

Capri Global Capital gained 0.67% to Rs 620.10. Capri Global Housing Finance, a wholly owned subsidy of Capri Global Capital, has entered a co-lending alliance with State Bank of India (SBI).

Indices trade sideways with losses; ZEE jumps 17%. 24March2022

 

Equity indices traded sideways with modest losses in afternoon trade. The Nifty traded below the 17,200 mark. Media, metals and pharma stocks advanced while banks and financial shares were under pressure.

The barometer index, the S&P BSE Sensex dropped 267 points or 0.46% at 57,417.88. The Nifty 50 index lost 73.45 points or 0.43% at 17,172.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.21% while the S&P BSE Small-Cap index gained 0.06%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, shares 1,443 rose and 1,865 shares fell. A total of 119 shares were unchanged.

Nifty Gainers & Losers:

Dr. Reddy's Lab (up 4.91%), Hindalco Inds (up 2.53%), Coal India (up 2.24%), Cipla (up 1.98%) and UltraTech Cement (up 1.54%) were top gainers in Nifty 50 index.

Kotak Mahindra Bank (down 2.89%), HDFC Bank (down 2.65%), ICICI Bank (down 2.1%), Titan Company (down 2.1%) and BPCL (down 1.17%) were top losers in Nifty 50 index.

Stocks in Spotlight:

Zee Entertainment Enterprises (ZEEL) jumped 17.56% after the company's largest minority shareholder, Invesco, decided not to pursue litigation against Zee. Invesco Developing Markets Fund on 23 March said it decided not to pursue an extraordinary general meeting (EGM) to add six independent directors as Zee's merger with Sony will achieve the fund's aim of strengthening board oversight. Division Bench of the Bombay High Court has on 22 March 2022, allowed the appeal filed by Invesco Developing Markets Fund and OFI Global China Fund and set aside the order passed by the learned single judge of the Bombay High Court. The Division Bench has directed that status quo be maintained for a period of 3 weeks. The company still awaits the detailed order in this regard. Invesco Developing Markets Fund and OFI Global China Fund on 11 September 2021 served a requisition notice to ZEEL to hold an EGM to remove Punit Goenka from the firm's board as director. Goenka, son of Essel Group founder and chairman Subhash Chandra, is managing director and chief executive officer of ZEEL. The two institutional investors also called for the removal of two of ZEEL's independent directors, Ashok Kurien and Manish Chokhani. The letter also proposed the appointment of six independent directors, including Surendra Singh Sirohi, Naina Krishna Murthy, Rohan Dhamija, Aruna Sharma, Srinivasa Rao Addepalli and Gaurav Mehta.

In December 2021, ZEEL and Sony Pictures Networks India (SPNI) signed definitive agreements to merge ZEEL into SPNI and combine their linear networks, digital assets, production operations and program libraries. After the closing, Sony Pictures Entertainment Inc. (SPE) will indirectly hold a majority 50.86% of the combined company, the founders of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake.

Kotak Mahindra Bank fell 2.89% after a large block deal took place in the initial deals on the BSE today. At 9:24 IST, around 3,17,69,813 equity shares, representing 1.60% of total equity of Kotak Mahindra Bank, changed hands at the counter on the BSE. The names of the buyers and sellers could not be ascertained. The media reported that Canada Pension Plan Investment Board is expected to sell stake via a bulk deal on 24 March 2022 to make a partial exit from Kotak Mahindra Bank. The Canadian pension fund will offload a 1.41% to 2.02% stake in the private lender at Rs 1,681.26-Rs 1,769.75 per share through the bulk deal.

Sensex, Nifty at the high point of the day. 24March2022

 

The key equity indices were currently at the day's high in mid-morning trade. The Nifty was trading above the 17,250 mark. Metal shares advanced for sixth day in a row.

The barometer index, the S&P BSE Sensex, was up 122.47 points or 0.21% to 57,807.29. The Nifty 50 index added 36.80 points or 0.21% to 17,282.45.

In the broader market, the S&P BSE Mid-Cap index added 0.47% while the S&P BSE Small-Cap index rose 0.43%.

Buyers outnumbered sellers. On the BSE, 1685 shares rose and 1486 shares fell. A total of 153 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 1.73% to 6,510.40, extending gains for sixth consecutive session. The index has gained 10.16% in six sessions.

Welspun Corp (up 4.81%), NMDC (up 3.34%), National Aluminum Co. (up 2.80%), Hindalco Industries (up 2.67%), Jindal Steel & Power (up 2.66%) and Coal India (up 2.51%) advanced.Further, Vedanta (up 1.70%), JSW Steel (up 1.59%), Tata Steel (up 1.50%), Hindustan Zinc (up 1.25%), Ratnamani Metals Tubes (up 1.16%), Hindustan Copper (up 1.10%) and SAIL (up 1.07%) edged higher.

Stocks in Spotlight:

RailTel Corporation of India added 0.33% to Rs 90.20. The company said that it received work order from South Eastern Coalfields (SECL) worth Rs 15.76 crore.

Zee Entertainment Enterprises (ZEEL) jumped 15.80% to Rs 296.50. Invesco Developing Markets Fund, ZEEL's largest minority shareholder, on 23 March 2022 said it decided not to pursue an extraordinary general meeting (EGM) to add six independent directors as Zee's merger with Sony will achieve the fund's aim of strengthening board oversight.

Global Markets:

Asian stocks are trading lower on Thursday, as the recent global equities rally eased. Volatile commodity prices added concerns to a market already dealing with record inflation and the impact of an ongoing war in Ukraine.

Activity in the services sector, which has been battered by the pandemic, contracted for the third straight month, but the pace of decline slowed. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 53.2 in March from a final 52.7 in the previous month.

US stocks eased Wednesday as oil prices rose, renewing inflation fears. Traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.

Broader market outperforms; bank stocks decline. 24March2022

  

The equity benchmarks pared losses in morning trade. The Nifty was trading a tad above the 17,200 mark. Banks stocks declined for the second day in a row.

The barometer index, the S&P BSE Sensex, was down 79.63 points or 0.14% to 57,605.19. The Nifty 50 index lost 20.85 points or 0.12% to 17,224.80.

In the broader market, the S&P BSE Mid-Cap index added 0.35% while the S&P BSE Small-Cap index rose 0.36%.

Buyers outnumbered sellers. On the BSE, 1697 shares rose and 1338 shares fell. A total of 135 shares were unchanged.

Buzzing Index:

The Nifty Bank index slipped 0.84% to 35,843.10. The index has declined 1.39% in two sessions.

Kotak Mahindra Bank (down 2.94%), HDFC Bank (down 1.23%), ICICI Bank (down 1.36%), IDFC First Bank (down 0.37%) and Bandhan Bank (down 0.13%) declined.

AU Small Finance Bank (up 1.65%), RBL Bank (up 0.78%), Punjab National Bank (up 0.56%), SBI (up 0.52%), Federal Bank (up 0.24%) and IndusInd Bank (up 0.20%) advanced.

Stocks in Spotlight:

Filatex India shed 0.31% to Rs 128. The company will consider buyback of equity shares on 29 March 2022.

IRCTC advanced 0.13% to Rs 767.60. The company has extended Rajni Hasija's term as CMD till 31 July 2022.

Colgate Palmolive slipped 0.70% to Rs 1516.70. The company's board will consider declaration of interim dividend on 28 April 2022.

Edelweiss Financial Services fell 1.38% to Rs 53.50. The company's board will consider declaration of interim dividend on 29 March 2022.

Nifty ends below 17,250; metal stocks outperform. 23March2022

  

The key equity barometers ended with modest losses on Wednesday. The Nifty closed above the 17,250 mark. While most sectoral indices on the NSE declined, metals, oil & gas and pharma shares bucked the trend.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was down 304.48 points or 0.53% to 57,684.82. The Nifty 50 index fell 69.85 points or 0.40% to 17,245.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.39% while the S&P BSE Small-Cap index shed 0.02%.

The market breadth turned negative. On the BSE, 1468 shares rose and 1927 shares fell. A total of 130 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 1.21% to 6,399.95. The index has added 8.29% in five sessions.

SAIL (up 3.62%), Jindal Steel & Power (up 3.59%), Hindalco Industries (up 2.53%), Tata Steel (up 2.23%), Welspun Corp (up 1.38%), Vedanta (up 1.14%), JSW Steel (up 0.79%), and National Aluminum Co. (up 0.78%) advanced.

Meanwhile, APL Apollo Tubes (down 3.11%), Ratnamani Metals Tubes (down 3.10%) and Adani Enterprises (down 1.12%) and Hindustan Zinc (down 0.51%) declined.

Stocks in Spotlight:

Shares of One 97 Communications (Paytm) fell 3.62% to Rs 524.30, extending decline for fourth consecutive session. The stock has lost 17.31% in four sessions.

The BSE sought a clarification from Paytm over the sharp fall in its share prices. Paytm clarified that there is no information, which may have a bearing on the price/volume behaviour in the scrip of the company. The company would also like to point out the business fundamentals remain robust, it added.

Infosys shed 0.97% to Rs 1868.90. The IT major announced a definitive agreement to acquire oddity, a Germany-based digital marketing, experience, and commerce agency.

SBI lost 0.61% to Rs 490.90. The state-run bank has acquired 7.84% stake in ONDC (Open Network for Digital Commerce) for a consideration of Rs 10 crore.

Adani Ports and Special Economic Zone (APSEZ) declined 0.85% to Rs 733.35. The company crossed a historic milestone by handling 300 MMT of cargo well ahead of the year end (March 2022).

Adani Power jumped 5.37% to Rs 130.40 after the company said its board approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself.

Bajaj Electricals gained 2.26% to Rs 1061.90 after the company said it renewed trademark license agreement with Morphy Richards for fifteen years with effect from 1 July 2022.

Bhansali Engineering Polymers (BEPL) advanced 5.07% to Rs 137.70 after the company received approval from the Madhya Pradesh Pollution Control Board for expansion of high rubber graft from 15,000 TPA to 50,000 TPA.

MTAR Technologies lost 0.85% to Rs 1960.85. The company announced that it has been declared as L1 bidder for tenders floated by Nuclear Power Corporation of India (NPCI). The combined value of orders is approximately Rs 135 crore and purchase orders for the same are expected in Q1 FY23.

Indian Hotels Company advanced 3.50% to Rs 216.05. The board of the hospitality company authorized opening the qualified institutional placement (QIP) issue of Rs 2000 crore on Tuesday, 22 March 2022. Floor price is set at Rs 203.48. The board is scheduled to meet on 25 March 2022 to approve the issue price.

Hero MotoCorp fell 1.33% to Rs 2389.05. According to the media report, search operations are currently underway at about 25 premises of Hero MotoCorp, including at offices and residences of senior management in Delhi, Gurgaon and other parts of North India.

Steel Strips Wheels (SSWL) said that it has prepaid the long term debt of Rs 35.76 crore, thereby making the total prepayment of Rs 97.03 crore till date. After this pre-payment along with normal repayments for the period, the company's long term debt is reduced to Rs 405.96 crore.

Global Markets:

Most European shares declined while Asian stocks ended higher on Wednesday.

Investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.

Investors kept an eye on the moves in the oil markets, with media reports suggesting that the European Union is unlikely to impose an immediate oil embargo on Russia over its unprovoked invasion of Ukraine.

U.S. stocks rebounded Tuesday as traders digested Federal Reserve Chair Jerome Powell's latest rate hike comments. Powell said “inflation is much too high” and vowed to take “necessary steps” to curb inflation.

Barometers trade lower; metal stocks advance for 5th day. 23March2022

The key equity barometers traded with small losses in mid-afternoon trade. The Nifty traded above the 17,270 mark. Metal shares rose for the fifth day in a row.

The barometer index, the S&P BSE Sensex, was down 182.44 points or 0.31% to 57,806.86. The Nifty 50 index fell 40.65 points or 0.23% to 17,274.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.54% while the S&P BSE Small-Cap index gained 0.22%.

The market breadth turned negative. On the BSE, 1571 shares rose and 1797 shares fell. A total of 124 shares were unchanged.

Buzzing Index:

The Nifty Metal index rose 1.31% to 6,406.25. The index has added 8.40% in five sessions.

SAIL (up 4.67%), Jindal Steel & Power (up 2.67%), Tata Steel (up 2.70%), Welspun Corp (up 2.38%), Hindalco Industries (up 2.28%), JSW Steel (up 1.50%), Vedanta (up 1.36%) and National Aluminum Co. (up 0.82%) advanced.

Numbers to Track:

The yield on 10-year benchmark federal paper fell to 6.817% compared with 6.831% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 76.1850, compared with its close of 76.1800 during the previous trading session.

MCX Gold futures for 5 April 2022 settlement added 0.27% to Rs 51,518.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 98.56.

In the commodities market, Brent crude for May 2022 settlement shed $ 1.25 or 1.08% $116.73 a barrel.

Global Markets:

European markets advanced across the board while Asian stocks traded higher on Wednesday.

Investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.

Investors kept an eye on the moves in the oil markets, with media reports suggesting that the European Union is unlikely to impose an immediate oil embargo on Russia over its unprovoked invasion of Ukraine.

U.S. stocks rebounded Tuesday as traders digested Federal Reserve Chair Jerome Powell's latest rate hike comments. Powell said “inflation is much too high” and vowed to take “necessary steps” to curb inflation.