India Stocks Review: Indices eke out gains as banks, RIL rise

Informist, Friday, Jan 7, 2022

By Abhishek Saini

MUMBAI – Benchmark domestic indices managed to end the session higher today after oscillating between gains and losses amid buying in the shares of Reliance Industries and banks.

After investors turned risk-averse on Thursday on hawksih comments by US Federal Reserve, buying interest was restored in the market on expectations of strong Oct-Dec results.

The benchmark indices rose nearly 1% in early trade today amid the earnings optimism, but profit booking at higher levels saw them erase opening gains. However, they managed to recover the losses.

The Nifty 50 ended the day 0.4% higher at 17812.70 points, while the 30-stock BSE Sensex closed at 59744.65 points, rising 0.2%. Intraday, the indices hit a high of 17905 points and 60130.18 points, respectively.

With this, the benchmark indices have ended the first week of 2022 with 2.6% gains. The Nifty Bank index ended over 6% higher for the week, sharply outperforming the headline indices.

Even today, the Nifty Bank index outperformed the benchmark indices and was able to cross the 38000-point hurdle briefly, before closing the day 0.7% higher at 37739.60 points. Along with gains in frontline banks, AU Small Finance Bank and Bandhan Bank also ended 4.6% and 2.5% higher, and were the top gainers in the Nifty Bank index.

The Nifty IT index rose 0.3% today as investors were awaiting results of major companies in the sector, scheduled to be released next week. Shares of Wipro, Tech Mahindra and Tata Consultancy Services ended with 0.6-1.2% gains.

Shares of Reliance Industries contributed the most to Nifty 50’s gains today as it ended nearly 1% higher. The stock rebounded today from Thursday’s losses, as its arm acquired 25.8% stake in logistics company Dunzo for $200 mln.

Among laggards, the Nifty Auto index fell 0.2% today weighed down today by Mahindra & Mahindra which fell 1.3% and was also the worst hit among the Nifty 50 companies.

The action in broader market was largely in line with the headline indices. The mid-cap 100 and small-cap 100 indices on NSE rose 0.5% and 0.4%, respectively.

Shares of Easy Trip Planners ended the day 4% higher after the company announced that its board will be meeting on Wednesday to mull a bonus share issue.

Among the laggards, Hinduja Global Solutions were locked in the 20% lower circuit as the company’s dividend payout of 150 rupees per share was lower than market’s expectations and disappointed investors.

* Among Nifty 50 stocks, 31 rose, 18 fell and 1 was unchanged

* Among Sensex stocks, 7 rose and 23 fell

* On the NSE, 1,141 stocks rose, 900 fell and 48 were unchanged

* On the BSE, 2,104 stocks rose, 1,305 fell and 84 were unchanged

* Nifty Auto: Down 0.2%; Nifty IT: Up 0.3%; Nifty Bank: Up 0.7%

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BSE National Stock Exchange
Sensex: 59744.65, up 142.81 pts (0.2%) Nifty 50: 17812.70, up 66.80 pts (0.4%)
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S&P BSE Sensitive Index                          Nifty 50
Lifetime High: 61353.25 (Oct 14)                : Lifetime High: 18350.75 (Oct 14)
Record Close High: 61305.95 (Oct 14)            : Record Close High: 18338.55 (Oct 14)

2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 60223.15 (Jan 5) : 2022 Closing High: 17925.25 (Jan 5)
2022 Closing Low: 59183.22 (Jan 3)     : 2022 Closing Low: 17625.70 (Jan 3)
2022 High (intraday): 60332.72 (Jan 5) : 2022 High (intraday): 17944.70 (Jan 5)
2021 Closing High: 61305.95 (Oct 14)            : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29)             : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14)         : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29)          : 2021 Low (intraday): 13596.75 (Jan 29)

2020 Closing High: 47751.33 (Dec 31)            : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23)             : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31)         : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24)          : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20)         : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19)          : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28))         : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23)           : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26)         : 2017 High(intraday): 10515.10 (Dec 26)

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End

Edited by Maheswaran Parameswaran

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Source: Cogencis