Informist, Tuesday, Jun 28, 2022
By Abhishek Saini
MUMBAI – Benchmark equity indices recouped most of the day’s losses following reports that China had eased COVID-19 quarantine restrictions, but the session was largely choppy due to continued selling by foreign institutional investors.
As FIIs shifted their bets to the safe-haven dollar, the rupee today hit a record low of 78.84 against the greenback.
Today, the Nifty 50 ended 0.1% higher at 15850.20 points, while the Sensex ended flat at 53177.45 points. The indices managed to recover from their day’s lows of 15710.15 points and 52771.53 points, respectively.
“There are many headwinds for the recent rally to sustain. FIIs will continue to sell at rallies,” said V.K. Vijayakumar, chief investment strategist, Geojit Financial Services.
Crude oil prices rose nearly 2% due to possibilities of further sanctions on Russian crude oil by the Group of Seven countries. This had pulled down headline indices nearly 1% in early trade.
However, reports of Chinese authorities easing COVID-19 quarantine measures injected some momentum into the market, which helped the headline indices pare opening losses. Global equity indices also moved higher following these reports.
But the gains were kept in check by heavyweight financial stocks, which remained in the red. This weighed on the benchmark indices, causing them to end with losses.
The Nifty Bank ended 0.5% lower, and was the only major sectoral laggard. Major financial stocks like Housing Development Finance Corp and Bajaj Finance also ended in the red.
The sector that led the gains for yet another session was automobiles. Shares of Mahindra & Mahindra hit a lifetime high today as the launch of a new sport utility vehicle boosted the outlook for the company. The Nifty Auto index gained 1.3% today.
Metal companies continued their recovery from the recent sell-off. The Nifty Metal index rose 1.7% today, and has now gained nearly 6% over the past four sessions. The Nifty IT index also ended in the green, recovering from its opening losses.
Among other major sectoral trends, shares of upstream oil companies surged today, aided by the spike in crude oil prices. Shares of Oil & Natural Gas Corp, Oil India and Hindustan Oil Exploration Co ended 5-9% higher today.
The broader market ended on a mixed note. While the Nifty Mid-Cap indices completed a recovery to end slightly higher, the Nifty Small-Cap index lagged behind and ended in the red.
Among specific stocks, shares of Zomato fell another 8% as a deal to acquire Blinkit is seen impacting its financials. The stock has fallen over 14% this week, since the announcement of the acquisition.
* Among Nifty 50 stocks, 31 rose and 19 fell
* Among Sensex stocks, 17 rose and 13 fell
* On the NSE, 1,112 stocks rose, 943 fell and 76 were unchanged
* On the BSE, 1,793 stocks rose, 1,486 fell and 137 were unchanged
* Nifty Auto: Up 1.3%; Nifty Metal: Up 1.7%; Nifty Bank: Down 0.5%
BSE National Stock Exchange
Sensex: 53177.45 points, up 16.17 pts (0.03%) Nifty 50: 15850.20 points, up 18.15 pts (0.1%)
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: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
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 Avishek Dutta
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