We had manrioned on Wednesday that Nifty, Sensex was under pressure. On Thursday, the market fell sharply as 1317 stocks advanced, 2337 declined and 139 remained unchanged on the Bombay Stock Exchange (BSE), indicating a negative closing of stocks in broader markets. The domestic market fell for the third consecutive session as a result of the Fed chair's hawkish tone and the Fed's prolonged high interest rate trajectory, which is not good for a weakening global economy. Investors were alarmed by the US Fed's announcement that there would be one more rate hike this year. Investors are uneasy due to further negative drivers such continuing outflows of foreign funds, rising US dollar index and government yields, and rising crude oil prices. The trend of the major indices on Thursday’s trading is given in the table below:
On NSE, 58 securities advanced and closed at a new 52-week high whereas 12 securities sank to close at their new 52-week lows. In sectoral indices, Nifty PSU bank, Nifty Metal and Nifty Auto were among the biggest gainer. Nifty Media and Nifty FMCG were among the biggest loser.
AU Small Finance Bank (-1.81%) entered into bancassurance tie-up with Max Life Insurance Company.
SJVN (-12.91%) invited developers to bid for 1500 MW ISTS-connected wind-solar projects. The stock fell sharply as the government is selling 4.92% stake as offer for sale.
BLS International (-2.43%) has suspended India visa services in Canada till further notice. Canadian visa issuance contributes 2% of its annual revenue.
ABB India (-1.48%) won order from Samskip to power new hydrogen fueled container vessels
MSME lender TruCapFinance and HDFC Bank (-0.58%) in co-lending partnership for business and gold loans.
Apollo Tyres (-2.89%) stopped Bias and OTR tire production at its Limda, Gujarat plant. Production was halted due to concerns among shop floor employees related to a long-term settlement agreement.
KFin Technologies (-0.48%) appointed as registrar, share transfer agent of State Bank of India.
BPCL (+0.72%) issued $200 million corporate guarantee for wholly owned subsidiary BPRL International.
Casio will start local manufacturing of watches by the end of this year in India.
HDFC AMC (-0.49%) recieved RBI nod to acquire up to 9.5% stake in Karur Vyasya Bank.
Biocon (-2.10%) unit Biocon Biologics received European Commission-granted marketing authorisation in the EU for Yesafili, a biosimilar of Aflibercept.
Exide Industries (-1.37%) has invested Rs124.99 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions, on a rights basis.
Kallam Transco has been incorporated as a wholly-owned subsidiary of REC Power Development and Consultancy. The company also announced the sale of Beawar Transmission to Sterlite Grid 27, comprising 50,000 equity shares.
In large trades, Jio Financial Services (-0.85%) 0.07% equity changed hands at an average price of Rs231.00 per share. Electronic Mart (+4.55%) 2.5% equity changed hands at an average price of Rs150 per share.
20 Microns (+0.68%) Promoter bought net 23,000 shares through open market. Action Construction Equipment (-0.86%) insiders bought net 1,455 shares through open market. Atul Auto (+2.00%) Promoter sold net 2,815 shares through open market. The India Cements insiders sold net 33,272 shares through open market. Info Edge (-0.80%) (India) Director sold net 20,000 shares through open market. Titan (+0.10%) insiders bought net 160,700 shares through open market. Emmbi Industries(-1.88%) promoter bought net 25,000 shares through open market. Bajaj Healthcare (+2.72%) promoter bought net 56,000 shares through open market.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: