Nifty, Sensex May Remain Rangebound– Thursday Closing Report
Moneylife Digital Team 22 September 2022
On Thursday, the indices opened gap-down after the US indices declined following Fed outcome, recovered later in the day and ended with a loss. On the Bombay Stock Exchange (BSE), 1,814 stocks advanced, 1,628 declined, and 147 remained unchanged with advance decline ratio of 1.14 indicating strength in broader market.
 
The trend of the major indices on Thursday’s trading are given in the table below:
 
 
On NSE, 74 stocks advanced and closed at new 52 week high whereas 62 stocks sank to close at their new 52-week lows. In sectorial Indices Nifty Private Bank and Nifty Bank were the biggest losers whereas Nifty Media and Nifty FMCG were the biggest gainers. The broader market indices outperformed their larger with BSE Midcap and BSE Small cap gaining 0.32% and 0.47% respectively.
 
Rupee ended at record closing low of 80.86/$. US Federal Reserve hiked rates by 75 bps to 3.25%. This was the fifth consecutive rate hike with cumulative increase of 3%.
Bank of England raised interest rates by 50 bps to 2.25%. This was 7th rate hike in a row.
 
Indonesia has raised its policy rates by 50 bps to 4.5%.
 
RBL Bank has hiked lending rates by 20 bps. The stock ended in green. IndusInd Bank has hiked lending rates by 5 to 10 bps across tenures.
Accenture has guided for a 8% to 11% revenue growth in local currency in FY22-23 as compared 26% growth in FY21-22.
 
Century Textiles has acquired 10-acre land in Bengaluru and expects Rs 900 crore revenue from the same.
 
Government has granted ‘Maharatna’ status to REC. The stock ended 1% higher.
 
Som Distelleries promoter has acquired additional stake of 3.57% raising its holding to 33.74%. The stock ended in red.
 
Arunachal Pradesh state government has increased excise duty on liquor by 15%.
 
Fortis Healthcare declined 14.75% after Supreme Court ordered continuation of stay on IHH open offer and 6-month jail term for Singh Brothers.
 
In large trades, Vijaya Diagnostic ended 1% higher after 1.6% equity changed hands at Rs 400 per share. Barbeque Nation ended almost 5% higher after 1.22% equity changed hands at Rs 1,022.4 per share.
 
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:
 
Comments
Adani Pledges Shares Worth US$13bn in ACC, Ambuja Cements with Deutsche Bank
Moneylife Digital Team 22 September 2022
Soon after the acquisition, the Adani group pledged shares worth US$13bn (billion) in ACC Ltd and Ambuja Cement Ltd, which it bought from Switzerland-based Holcim Ltd. According to Jefferies Financial Group Inc, the acquisitions...
Supriya Lifescience: Will Exceptional Growth Continue?
Moneylife Digital Team 22 September 2022
The energy crisis in Europe can throw up an unexpected opportunity for Indian API (active pharmaceutical ingredient) manufacturers. One of the very few pure-play API companies operating in this industry is Supriya Lifescience...
Rainbow Children’s Medicare: Strong Growth and Profitability
Moneylife Digital Team 21 September 2022
Rainbow Children’s Medicare (RCM), that went public in April 2022, is a multi-specialty paediatric, obstetrics and gynaecology hospital chain which was earlier backed by the UK-based development finance institution—CDC (Commonwealth...
Motherson Sumi Wiring: Strong Growth Expectations
Moneylife Digital Team 20 September 2022
Motherson Sumi Wiring India Limited (MSWIL) came into existence as a listed entity after the restructuring of Samvardhana Motherson International Limited (SAMIL), formerly known as Motherson Sumi Systems Limited (MSSL). After...
Free Helpline
Legal Credit
Feedback