Nifty, Sensex Up; Midcap, Small Cap Continue To Fall – Monday Closing Report
Moneylife Digital Team 20 June 2022
We had mentioned in Friday’s closing report that Nifty and Sensex were under strong selling pressure. On Monday, the indices opened gap up and ended with gain. On the National Stock Exchange (NSE), 396 stocks advanced, 1,744 declined and 45 remained unchanged with advance decline ratio of 0.23, indicating major weakness in broader markets. 
 
The trend of the major indices on Monday’s trading are given in the table below:
 
 
On NSE, 16 stocks advanced and closed at a new 52-week high whereas 489 stocks sunk to close at their new 52-week lows. In sectorial indices, Nifty Metal and Nifty Oil & Gas were the biggest losers whereas Nifty FMCG and Nifty Financial Services were the biggest gainers. The broader market indices underperformed their larger peers with BSE Midcap and BSE Small cap losing 1.4% and 2.9%, respectively.
 
Vodafone Idea is considering to raise Rs500 crore from its promoters in a board meeting on 22nd June. Action Construction Equipment received order worth US$24.98 million to set up assembly plant for tractors.
 
SEBI has advised Association of Mutual Funds in India (AMFI) that mutual fund schemes may resume investments in international stock to the extent of their international assets under management (AUM) as on 1 February 2022. The shortfall due to correction can be used for fresh investment.
 
Wipro closed 3% higher after its subsidiary, Topcode appointed Doug Hansen as chief executive officer. Titan closed in green after brokerage house Macquarie maintained ‘outperform’ rating on the company with a target of Rs3,000.
 
Vedanta has invited expression of interest to sell Sterlite Copper plant Thoothukudi. The stock closed 12% down.
 
Data from Pension Fund Regulatory & Development Authority (PFRDA), shows that the national pension scheme (NPS) subscribers in May increased 24% to 53.17 million y-o-y. 
 
According to CRISIL, duty related measures by government will result in 40% decline in exports.
 
Delta Corp closed 4% down after Rakesh Jhunjhunwala and his wife’s holding declined to 1.2% from 3.36% on 14th June. Metal stocks like Tata Steel and Hindalco were down on slowdown concerns, BSE Metal touched a 15-month low.
 
Life Insurance Corp of India (LIC) closed in green after JP Morgan initiated coverage with an overweight rating and a price target of Rs840 per share.
 
Adani Wilmar closed 5% down after slashing prices of its edible oils by Rs10. Paint stocks were up on the back of decline in crude oils.
 
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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