Indian equity benchmarks
extended their fall for the fourth straight day and ended marginally lower on
Thursday due to selling in IT and TECK shares amid weak global equities. Key
indexes made a positive start as traders took some support with a private
report showed that Indian economy is projected to grow 7.1% to 7.6% in the
current financial year despite shifting geopolitical realties across the world.
The Nifty50 has
formed a small negative candle on the daily chart with upper and lower shadows,
according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. There is no
confirmation of a short-term bottom reversal in the market yet, he said.
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Sensex fell 98.00 points or 0.18% to 53,416.15 and the
Nifty was down by 28.00 points or 0.18% to 15,938.65 in the previous session. Sensex
touched high and low of 53,861.28 and 53,163.77, respectively. There were 12
stocks advancing against 18 stock declining on the index. Nifty traded in a
range of 16,070.75 and 15,858.20. There were 21 stocks advancing against 29
stocks declining on the index.
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Broader Indices
The broader indices ended in red with the BSE Mid cap index
falling 0.40%, while Small cap index was down by 0.56%. On the sectoral front, Oil
& Gas was up by 1.65%, Energy was up by 1.13%, Utilities was up by 1.02%,
Power was up by 0.98%, Healthcare was up by 0.75% while, IT down by 1.44%, TECK
down by 1.14%, Basic Materials down by 0.71%, Telecom down by 0.63%, PSU down
by 0.50% were the losing indices on BSE.
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India VIX Index
Nifty or India VIX, a
gauge of the market’s expectation of volatility over the near term, fell 0.97%
to 18.34 on Thursday.
SGX Nifty
The trends on SGX Nifty indicate
a flat opening for the index in India with a 0.50 points loss. The Nifty futures were trading
at 15,933.00 on the Singaporean Exchange
around 7:00 hours IST.
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Support and
Resistance levels
The key support level
for the Nifty is placed at 15,841, followed by 15,743. If the index moves up,
the key resistance levels to watch out for are 16,054 and 16,168, according to
pivot charts.
The S&P 500 fell 11.40 points, or 0.3%, to 3,790.38.
The Dow Jones Industrial Average fell 142.62 points, or 0.5%, to 30,630.17.
The Nasdaq rose 3.60 points, less than 0.1%, to 11,251.19.
The Russell 2000 index of smaller companies fell 18.53 points, or 1.1%, to 1,707.51.
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Asian Markets
Asian markets ended mixed
on Thursday. The Heng Seng fell 0.22%, the KOSPI Composite fell 0.27%, the
Shanghai Composite fell 0.08%, while the Nikkei 225 rose 0.62%.
European Markets
European markets
ended mostly lower on Thursday, London’s FTSE 100 was down by 1.63%, France’s
CAC 40 was down by 1.41% and Germany’s DAX was down by 1.86%.
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Major News Headlines
India’s WPI inflation eases to
15.18% in June from record high of 15.88% in May
The wholesale inflation rate in
India fell to 15.18% in June, according to figures released by the Ministry of
Commerce and Industry. The wholesale price index (WPI) increased to 15.88% in
May, whereas the WPI for April was amended to 15.38% from 15.08%, according to
the statistics. In June 2021, the WPI was 12.07%. Beginning in April 2021, WPI
inflation has been in the double digits for the 15th consecutive month.
“The high rate of inflation in
June 2022 is primarily due to rise in prices of mineral oils, food articles,
crude petroleum & natural gas, basic metals, chemicals & chemical
products, food products etc. as compared to the corresponding month of the
previous year,” the government said in its press release.
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Bharti Airtel allots 1.2% equity shares to
Google for Rs 5,224 crore
The company said it has closed the $1 billion investment
deal with Google International LLC, with the tech giant owning 1.2% of India’s
number 2 telecom service provider. The Sunil Mittal promoted company has
allotted preferential shares amounting to over Rs 5,224 crore to Google while
the remaining $300 million will be invested through commercial agreements over
the next five years. The announcement comes after approval from the Competition
Commission of India last week.
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Torrent Power secures Rs 2,600 crore wind
energy project in Karnataka from SECI
The company has secured a 300 MW wind energy project worth
Rs 2,600 crore in Karnataka from Solar Energy Corporation of India (SECI). The
company in a BSE filing said, “SECI has granted a Letter of Award to the
company for 300 MW wind project and confirming long-term power purchase
arrangement (PPA) for the power generated from the proposed project”. The
estimated date of commissioning the project is 24 months from the date of
execution of the PPA, the company said.
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ACC Q1 Results: Net profit down 60% to Rs 227
crore, revenue rises 15%
The cement major reported a 60% year-on-year decline in its
consolidated profit at Rs 227 crore in the quarter ended June 2022 due to
rising global fuel costs and related inflationary impacts. EBITDA slumped 51%
year on year to Rs 426 crore and margin declined by 1,310 basis points to 9.7%
in the reported quarter. Revenue surged by 15% year on year to Rs 4,393 crore
with cement sales volumes up 10.5% at 7.56 million tonnes and ready-mix
concrete sales volumes rose 43.1% at 0.83 million cubic meters.
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FINDOC INVESTMART PRIVATE LIMITED bought 8,00,000 shares in Excel Realty
N Infra Limited at Rs 9.44 per share as per NSE.
ANKITA VISHAL SHAH bought 13,65,171 shares in GTL Limited at Rs 11.12
per share on the NSE.
NASSER SHARMIN bought 3,45,000 shares in Ind Terrain Fashions Limited at
Rs 48.45 per share as per NSE.
PLUTUS WEALTH MANAGEMENT LLP bought 1,25,000 shares in Neogen Chemicals
Limited at Rs 1300.09 per share as per NSE.
AG DYNAMIC FUNDS LIMITED bought 2,24,000 shares in Sarveshwar Foods
Limited at Rs 50.00 per share on the NSE.
NEWEDGE VINIMAY PRIVATE LIMITED sold 1,30,000 shares in Sona Hi Sona
Jewell G Limited at Rs 11.50 per share on the NSE.
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Foreign institutional
investors (FIIs) bought shares worth a net Rs 309.06 crore, while domestic
institutional investors (DIIs) sold shares worth a net Rs 556.40 crore in the
Indian equity market on July 14, as per provisional data available on the NSE.
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Delta Corp is the
stock/security that has been placed under the F&O ban for July 15. Securities
in the ban period under the F&O segment include companies in which the
security has crossed 95% of the market-wide position limit.
