Nifty, Sensex Continue to Slide – Wednesday Closing Report
Moneylife Digital Team 28 September 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex may try to rally. On Wednesday, the indices opened gap down, tried to rally and ended with loss. On the Bombay Stock Exchange (BSE), 1,335 stocks advanced, 2,092 declined, and 105 remained unchanged with advance decline ratio of 0.63 indicating negative sentiment in the broader market.
The trend of the major indices on Wednesday’s trading are given in the table below:
On NSE, 19 stocks advanced and closed at new 52 week high whereas 60 stocks sank to close at their new 52-week lows. In sectorial indices Nifty PSU Bank and Nifty Metal were the biggest losers whereas Nifty Pharma and Nifty Healthcare were the biggest gainers. The broader market indices outperformed their larger peers with BSE Midcap and BSE Small declining just 0.47% and 0.43% respectively.
Rupee ended at record closing low of 81.94/$ as compared to yesterday’s close of 81.58/$.
Delhi High Court has granted statutory bail to former NSE CEO Chitra Ramkrishna & operating officer Anand Subramanian. 
Metal stocks continued their downward trajectory with Hindalco and JSW Steel declining more than 3% each.
Cabinet has approved 400 bps hike in DA (dearness allowance) of government employees which is estimated to cost Rs 8,570 crore. It has also approved extension of PMGKAY (Pradhan Mantri Garib Kalyan Anna Yojana) by 3 months which is estimated to cost more than Rs 40,000 crore.
Navneet Education’s arm Navneet Futuretech has bought 48.2% stake in Genext Students (Genext). The stock closed almost 2% down.
Krsnaa Diagnostics ended in green after announcing opening of 600 new centers across India and entering retail healthcare services. 
In large trades, JSPL ended in green after 0.14% equity changed hands at Rs 404 per share. Axis Bank declined more than 3% after 0.6% equity changed hands at Rs 720 per share. 
Tata Motors has launched new Tiago EV priced between Rs 8.49 lakh to Rs 11.79 lakhs. The stock closed in red.
John Cockerill India gained more than 4% after winning order worth Rs 160 crore from Jindal Steel Odisha.
Torrent Pharma declined more than 2% after its acquisition of cosmetic dermatology company Curatio for Rs 2,000 crore was viewed by the market has earnings-dilutive.
Godrej Properties has acquired 7-acre land parcel in Bengaluru’s Indiranagar Extension with booking value potential of Rs 750 crore. The stock closed in red.
Motherson Wiring will consider bonus issue on 30 September. The stock closed in green.
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:
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