The key equity indices hit day’s high and traded with minor gains in the afternoon trade. The Nifty was above the 15,750 level after hitting the day’s high at 15,797.45. FMCG and banks shares advanced while metal, IT and auto stocks declined.
At 13:26 IST, the barometer index, the S&P BSE Sensex, was up 100 points or 0.19% to 53,008.64. The Nifty 50 index gained 15.6 points or 0.09% to 15,767.65.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.35% while the S&P BSE Small-Cap index added 0.44%.
The market breadth was positive. On the BSE, 1,905 shares rose and 1,365 shares fell. A total of 191 shares were unchanged.
Gainers & Losers:
ITC (up 2.69%), Indusind Bank (up 2.33%), SBI Life Insurance Company (up 1.64%), Power Grid Corporation of India (up 1.60%) and Britannia (up 1.50%) were major Nifty gainers.
ONGC (down 4.12%), Tata Steel (down 3.02%), TCS (down 2.24%), Mahindra & Mahindra (down 2.16%) and JSW Steel (down 2.15%) were majority Nifty losers.
Stocks in Spotlight:
HDFC Bank fell 0.10%. The private lender’s advances aggregated to approximately Rs 13,95,000 crore as of 30 June 2022, registering a growth of around 21.5% over Rs 11,47,700 crore as of 30 June 2021 and a growth of around 1.9% over Rs 13,68,800 crore as of 31 March 2022.
As per the bank’s internal business classification, retail loans grew by around 21.5% over 30 June 2021 and around 5% over 31 March 2022; commercial & rural banking loans grew by around 29% over 30 June 2021 and around 3% over 31 March 2022; and corporate & other wholesale loans grew by around 15.5% over 30 June 2021 and were at a level similar to that as of 31 March 2022.
Adani Ports and Special Economic Zone declined 0.21%. The company said that it handled the highest ever monthly cargo volume of 31.88 MMT in June 2022, implying 12% YoY growth. The company said that this also marks the highest ever cargo handled in a quarter at 90.89 MMT during Q1 FY23, which is 16% quarter on quarter growth, and 8% year on year growth over a strong Q1 FY22 that saw the post COVID volume surge. Coal volumes continue to show strong recovery with a growth of 25% YoY.
Other key segments that lead this monthly surge are crude, up by 17% YoY and container rising by 6% YoY.
Angel One jumped 4% after the brokerage company said its client base jumped 96.9% to 10.41 million in June 2022 as against 5.29 millions in June 2021. On a sequential basis, the company’s client base rose by 3.1% month on month (MoM) from 10.10 million clients in May 2022. Gross client acquisition stood at 0.34 million in June 2022 compared with 0.47 million in May 2022 (down 27.6%) and 0.46 million in June 2021 (down 26.3%).
Avenue Supermarts (DMart) gained 2.91%. The total number of DMart stores as of 30 June 2022 stood at 294. Avenue Supermarts (DMart) has reported a standalone revenue of Rs 9,806.89 crore in Q1 June 2022 (Q1FY23), up 94.90% from Rs 5,031.75 crore reported in the same quarter last year. The revenue is higher than Rs 3,833.23 crore reported in Q1 June 2020 and Rs 5,780.53 crore in Q1 June 2019. The board of Avenue Supermarts will consider Q1 results on 9 July 2022.
European stocks advanced while Asian stocks were mixed on Monday ahead of Australia and Malaysia central bank decisions this week.
The U. S. market is closed for the July Fourth public holiday on Monday. Wall Street ended sharply higher in light trading on Friday as investors embarked on the second half of the year. The higher close on Wall Street came as traders went bargain hunting following the significant decrease seen early in the session.
A report from the Institute for Supply Management showing the pace of growth in U. S. manufacturing activity slowed by more than expected in the month of June. The ISM said its manufacturing PMI slid to 53.0 in June from 56.1 in May.
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