Nifty, Sensex Remain under Pressure – Wednesday Closing Report
Moneylife Digital Team 22 June 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex would put in a relief rally. On Wednesday, the indices opened gap down and ended with loss. On the National Stock Exchange (NSE), 623 stocks advanced, 1,458 declined, and 67 remained unchanged with advance decline ratio of 0.43.
The trend of the major indices on Wednesday’s trading are given in the table below:
On NSE, seven stocks advanced and closed at a new 52-week high whereas 91 stocks sank to close at their new 52-week lows. All sectorial indices closed in red, Nifty Metal and Nifty Media were the biggest losers and Nifty PSU Bank and Nifty Auto were the most resilient. The broader market indices declined in line with their larger peers with BSE Midcap and BSE Smallcap ending 1.53% and 1.11% down. Indian rupee closed at a record low of 78.39 per US dollar.
The department of telecom (DoT) has removed the floor of minimum spectrum usage charge (SUC) of 3% of adjusted gross revenue (AGR). There will be no spectrum usage charge on spectrum assigned post September 2021.
In the NSE co-location case, the Central Bureau of Investigation (CBI) has arrested Sanjay Gupta of OPG Securities. In DHFL bank fraud case, CBI has booked former CMD Kapil Wadhawan and director Dheeraj Wadhawan.
According to Economic Times, average salary of Indian CEOs has touched a three-year high of Rs11.2 crore.
Jio-bp will set up electric vehicle (EV) charging station across 17 Nexus malls. 
JMC Project has secured new orders worth Rs874 crore. 
Kalpatru Transmission has won orders worth Rs1,416 crore.
The Central Consumer Protection Authority (CCPA) had issued notice to Ola Electric in June with respect to EV fire incidents. The CCPA has taken suo moto cognizance of other such incidents and issued notice to two EV companies - Pure EV and BOOM EV on 28th April and 5 May 2022.
Greenlam Industries is set to buy Blook Dekor’s laminate manufacturing plant for a total investment of Rs51 crore. The stock closed 2% higher. 
PVR and Inox ended in green after NSE and BSE approved merger plan. closed 6% higher after the company approved a share buyback plan at a price of Rs1,150 per share. The company will buy more than 6.52 lakh share aggregating to 2.85% of the share capital having a size of Rs75 crore.
UK May CPI was at 9.1%, a fresh 40-year high. 
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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