Nifty, Sensex Put in a Relief Rally – Tuesday Closing Report
Moneylife Digital Team 21 June 2022
On Tuesday, the indices opened gap up and ended with strong gains on short-covering. On the National Stock Exchange (NSE), 1,759 stocks advanced, 366 declined, and 37 remained unchanged with advance decline ratio of 4.81.
The trend of the major indices on Tuesday’s trading are given in the table below:
On NSE, eight stocks advanced and closed at new 52 week high whereas 118 stocks sunk to 52-week lows. All sectoral indices ended 1% higher with Nifty FMCG and Nifty Private Bank gaining the least and Nifty Media and Nifty Oil& Gas were the biggest gainers. The broader market indices outperformed their larger peers with BSE Midcap and BSE Small cap adding 2.42% and 2.99% respectively.
SEBI has banned Mutual Funds from bundling insurance with mutual fund schemes. Vedanta closed 3% higher after 55.8 lakh or 0.16% of the equity changed hand at Rs 233 per share. BHEL has signed a deal worth $165 million for nuclear turbines with GE Steam Power. The stock closed 6% higher.
HPCL closed 4% higher after issuing non-convertible debentures worth Rs 1,500 crore on private placement basis on 20 June 2022. HAL closed 4% higher, its board will meet on 28 June 2022 to recommend final dividend for FY21-22.
Suven Life Science was locked in 20% upper circuit. Its board will meet on 24 June 2022 to consider fund raise by rights issue. KEC closed 2% higher after the company bagged new orders worth Rs 1,092 crore.
Gland Pharma closed 3% higher after brokerage firm CLSA India gave a buy rating while initiating coverage.
Bharat Forge closed 3% higher after the company decided to consolidate its EV business vertical under Kalyani Powertrain Ltd (KPL) a wholly owned subsidiary.
According to World Gold Council, India is now the fourth largest gold recycling country processed 75 tons in 2021. According to Ericsson report, 39% of the mobile users in India will be using 5G services in next 5 years.
Sadbhav Engineering closed 4% down, it has tanked 52% in 1 month after declaring weak earnings.
Zerodha and Upstox websites were down for a brief period after an outage at Cloudfare, digital infrastructure services provider. Other popular websites like DoorDash, Feedly and Canva were also affected.
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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