Nifty, Sensex Extend Their Losing Streak– Thursday Closing Report
Moneylife Digital Team 29 September 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex continue to slide. On Thursday, the indices opened gap up and ended with loss. On the Bombay Stock Exchange (BSE), 1,884 stocks advanced, 1,543 declined, and 135 remained unchanged with advance decline ratio of 1.22.
 
The trend of the major indices on Thursday’s trading are given in the table below:
 
 
On NSE, 31 securities advanced and closed at new 52 week high whereas 50 securities sank to close at their new 52-week lows. In sectorial indices Nifty IT and Nifty Financial Service were the biggest losers whereas Nifty Healthcare and Nifty Pharma were the biggest gainers. The broader market indices BSE Midcap and BSE Small cap outperformed their larger and gained 0.3% and 0.6% respectively.
 
Rupee ended at 81.86/$ as compared to Wednesday’s close of 81.94/$.
 
In September series, 38 Nifty 50 stocks closed in loss with Hindalco and Bajaj Auto being the top losers whereas Eicher Motors and Cipla were the top gainers. In midcap, Can Fin Homes, Piramal Enterprises and Rain Industries slumped more than 20% whereas Ambuja Cement, Indian Hotel and Adani Enterprises gained more than 10%.
 
PNB board has decided to sell its entire stake of 10.01% in Asset Reconstruction Company. The stock closed 2% higher.
 
Bajaj Electrical gained almost 5% after its board approved merger with Nirlep Appliances.
 
The government has postponed implementation of mandatory six airbags in cars by one year till 1 Oct 2023.
 
In large trades, JSPL gained more than 3% after 0.14% equity changed hands at Rs 419.5 per share. Supreme Industries closed in green after 0.19% equity changed hands at Rs 2,085 per share. Gland Pharma ended in green after 0.14% equity changed hands at Rs 2,070 per share. CG Power closed in green after 0.2% equity changed hands at Rs 236.7 per share.
 
Reliance Retail opened its first premium fashion and lifestyle store Azorte in Bengaluru today.
 
Uno Minda will form joint venture with Japanese company TACHI-S for manufacturing and marketing of 4-wheeler passenger vehicle seat recliners. It will invest up to Rs 10 crore for 51% stake in the JV.
 
Sun Pharma Advanced Research Co (Sparc) gained more than 13% after the company announced hosting management presentation to share an update on its clinical programme and R&D pipeline.
 
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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