Nifty, Sensex Mark a Four Day Winning Streak – Tuesday Closing Report
Moneylife Digital Team 28 June 2022
We had mentioned in Monday’s closing report that Nifty and Sensex continue to trend up. On Tuesday, the indices opened gap down and ended with gain. On the National Stock Exchange (NSE), 1,112 stocks advanced, 943 declined, and 76 remained unchanged with advance decline ratio of 1.18. 
 
The trend of the major indices on Tuesday’s trading are given in the table below:
 
 
On NSE, 15 stocks advanced and closed at new 52 week high whereas 17 stocks sank to close at their new 52-week lows. In sectorial indices, Nifty Consumer Durables and Nifty Private Banks were the biggest losers whereas Nifty Oil& Gas and Nifty Metal were the biggest gainers. Rupee closed at record low of 78.77/$ after hitting record lows of 78.84/$ during the day.
 
GST Council has agreed to adopt the recommendations of GoM on system reforms. The recommendations include real time validation of bank accounts through NPCI, inclusion of electricity bill meta data, site verification using geo-coding, using biometric for high risk applicants.
 
According to sources, GST Council has decided to waive requirement for filing refund claims by condoning Covid period between 1 March 2020 to 28 Feb 2022.
 
Reliance Jio board has approved the appointment of Akash Ambani as Chairman of Board. Mukesh Ambani has resigned as director of the company with effect from 27 June. Pankaj Pawar has been appointed as Managing Director for 5 years. Reliance Jio has partnered with DigiBoxx to offer extra 10 GB cloud storage.
 
J&K Bank board has approved fund raise of up to Rs 2,000 crore using debt and equity.
 
Bajaj Auto closed in green after the clarifying that promoters will not participate in the buyback.
 
Tata Motors is set to increase prices of its commercial vehicles by 1.5% to 2.5% from 1 July 2022.
 
Zomato continued its decline and closed 8% down after Blinkit deal.
 
Allied Blender and Distillers has filed for Rs 2,000 crore IPO comprising of Rs 1,000 crore OFS and Rs 1,000 fresh issue. Allied Blenders is the maker of Officer’s Choice whiskey.
MRPL and Chennai Petroleum Corporation closed with gains of 10% and 9% respectively on the back of rebound in crude oil prices.
 
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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