Informist, Thursday, Mar 31, 2022
By Vivek Kumar
MUMBAI – Benchmark equity indices ended 2021-22 (Apr-Mar) on a muted note, as lack of major triggers in the domestic market limited the movement for them on either side.
The downside was limited today as investors drew comfort from a fall in crude oil prices after reports that the US was considering releasing 1 mln barrels of oil per day from its strategic reserves for the next few months to ease supply pressures.
The Nifty 50 and the Sensex closed 0.2% lower at 17464.75 points and 58568.51 points, respectively. The indices rose 2% in the last three sessions and closed at their highest levels in seven weeks today on hope of progress in peace talks between Russia and Ukraine.
Back home, the monthly derivatives contracts expired today, but analysts say it had little impact in the benchmark indices’ movement, given high rollovers were already seen as of Wednesday.
Going ahead, 17300 and 17600 points will be crucial levels for the Nifty 50, and breach of these levels on either side will help in determining the near-term market direction, said an analyst with Axis Securities.
Among sectors, the Nifty Bank managed to end marginally higher amid gains in Axis Bank and other mid-cap private sector lenders.
Shares of Hindalco Industries fell over 5%, the worst hit among Nifty 50 companies, amid concerns over margin headwinds and huge capital expenditure plans for arm Novelis.
Shares of pharmaceutical and healthcare companies also witnessed selling pressure today, which saw Apollo Hospitals Enterprise falling over 2% on its first day as a Nifty 50 constituent.
Shares of index heavyweight Reliance Industries fell 1.4% today, after gaining over 8% in the last seven sessions. This too weighed on the headline indices.
STRONG FY22
Though the benchmark indices were muted today, the returns for 2021-22 (Apr-Mar) were strong as investors bet on strong earnings growth for India Inc. The benchmark Nifty 50 rose nearly 19% during the financial year, braving the challenges from the second wave of COVID-19, the US Federal Reserve’s policy tightening, and the Russia-Ukraine war.
These gains came on top of a 71% surge in 2020-21 and despite the aggressive selling by foreign institutional investors in the latter half of the current financial year.
Market participants say gains are likely to moderate in 2022-23 amid uncertainty over the impact of the Russia-Ukraine war on inflation and consequent actions by central banks across the world. Much will also depend on how much the rise in crude oil and other commodity prices impacts the profitability of companies.
Amid several unknowns, investors will likely need to fasten seat belts and prepare for a roller-coaster ride in 2022-23.
* Among Nifty 50 stocks, 20 rose and 30 fell
* Among Sensex stocks, 15 rose and 15 fell
* On the NSE, 899 stocks rose, 1,141 fell and 57 were unchanged
* On the BSE, 1,500 stocks rose, 1,896 fell and 111 were unchanged
* Nifty FMCG: Up 1.2%; Nifty Pharma: Down 1.2%; Nifty Auto: Up 0.1%
BSE National Stock Exchange
Sensex: 58568.51 points, down 115.48 pts (0.2%) Nifty 50: 17464.75 points, down 33.50 pts (0.2%)
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 Avishek Dutta
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