Informist, Thursday, Apr 28, 2022
By Joe Milton
MUMBAI – Domestic equity indices closed higher with the Nifty 50 hitting 17300 points intraday as better-than-expected earnings from a few heavyweights and positive global cues aided sentiment.
A stellar show by Hindustan Unilever led to strong buying in its stock, which touched a two-month high of 2,250 rupees. Shares of HUL closed 4.5% higher at 2,241.85 rupees. This had a cascading effect on other fast-moving consumer goods companies too. Shares of Marico, Dabur India, Tata Consumer Products, and Nestle India ended 1-3% higher making the Nifty FMCG the top gainer among sectoral indices.
Apart from this, gains in Reliance Industries and Infosys also aided the headline indices.
Upbeat global cues led to a firm start which was further strengthened with healthy buying in select index majors from fast-moving consumer goods, banking and information technology space, said Ajit Mishra, vice president-research, Religare Broking.
The 50-stock index steadily gained and touched an intraday high of 17322.50 points but profit booking in the final hours of trading pulled the index off highs. It closed 1.2% higher at 17245.05 points.
Correspondingly, the BSE Sensex closed 1.2% higher at 57521.06 points after touching the day’s high of 57790.85 points.
“We feel a decisive close above 17300 points in Nifty 50 would further fuel the surge to the 17400-17500 points zone else profit taking would resume,” Mishra said.
Meanwhile, shares of Bajaj Finserv and SBI Life Insurance Co extended gains and closed 1.3% and 4% higher, respectively after the companies’ strong Jan-Mar performance.
During the day, shares of Bank of Maharashtra, Coromandel International, Motilal Oswal Financial Services, Procter & Gamble Hygiene & Healthcare, and Varun Beverages gained and closed higher as they reported strong Jan-Mar earnings.
On the other hand, shares of Laurus Labs closed 1.3% lower at 571.90 rupees as the company’s consolidated net profit slumped 22% on year in the March quarter.
Shares of Bajaj Auto closed about 2% lower as the management expects the semiconductor shortage to persist and input costs to increase by 3-4%.
Gains were seen across bank stocks led by State Bank of India, Axis Bank, and ICICI Bank, which helped Nifty Bank close 1.1% higher at 36422.20 points.
Today, buying interest was skewed towards large-cap companies, with small-cap and mid-cap indices on the NSE sharply underperforming compared to benchmark indices.
* Among Nifty 50 stocks, 42 rose and 8 fell
* Among Sensex stocks, 26 rose and 4 fell
* On the NSE, 1,000 stocks rose, 1,052 fell and 72 were unchanged
* On the BSE, 1,656 stocks rose, 1,753 fell and 109 were unchanged
* Nifty FMCG: up 2.2%; Nifty PSE: up 1.3%; Nifty IT: up 1%
BSE National Stock Exchange
Sensex: 57521.06 points, up 701.67 pts (1.2%) Nifty 50: 17245.05 points, up 206.65 pts (1.2%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19) : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18) : Record Close High: 18477.05 (Oct 18)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 52842.75 (Mar 7) : 2022 Closing Low: 15863.15 (Mar 7)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
2022 Low (intraday): 52260.82 (Mar 8) : 2022 Low (intraday): 15671.45 (Mar 8)
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)
End
Edited by Aditya Sakorkar
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