Nifty, Sensex Under Severe Pressure – Thursday Closing Report
Moneylife Digital Team 12 May 2022
On Thursday, the indices opened gap down after the global markets corrected, and ended deeply in red. On the National Stock Exchange (NSE), 447 stocks advanced, 1,676 declined, and 31 remained unchanged with advance decline ratio of 0.27 indicating major correction.
 
The trend of the major indices on Thursday’s trading are given in the table below:
 
 
Nifty and Sensex opened with a deep cut and continued to fall heavily, remained weak in a range during the day and fell again in the last hour. All sectoral indices closed in red, Nifty PSU Bank and Nifty Metal being the biggest losers. The broader market indices fell in line with their larger peers as BSE Midcap and BSE Small cap closed 2.24% and 1.96% down respectively. 
 
On NSE, 293 stocks touched new 52 week low and 12 touched new 52 week high. 297 stocks closed in lower circuits and 34 stocks in upper circuit.
 
L&T’s Q4FY21-22 revenue grew by 9.9% to Rs 52,850 crore and the profit increased by 10% to Rs 3,620 crore on a y-o-y basis. 
 
Tata Motors Q4FY21-22 consolidated revenue declined by 11% to Rs 78,439 crore and consolidated net loss narrowed to Rs 1,033 crore from Rs 7,605 crore.
 
Tata Sons has appointed Campbell Wilson as CEO and MD of Air India. He has 26 years of experience in aviation industry.
 
Birla Corp’s Q4FY21-22 revenue grew by 6% to Rs 2,264 crore and net profit fell by 55% to Rs 111 crore. The stock touched its 52 week low of Rs 893.50 per share and closed 1% down.
 
PNB touched its 52 week low after declaring poor Q4FY21-22 results. Its net profit declined 66% to Rs 201 crore. It has set aside Rs 8000 crore of loans for transferring to National Asset Reconstruction Company. 
 
RBL Bank’s net interest income grew by 25% to Rs 1,131 crore and the profit grew multifold to Rs 198 crore from Rs 75 crore on a y-o-y basis.
 
Sheela Foam’s Q4FY21-22 revenue grew by 4% to Rs 763 crore and profit declined by 15% to Rs 49 crore. The stock closed 2% higher.
 
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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