The broader indices outperformed their larger peers, with MidCap gauge falling 0.1% and SmallCap index gaining 0.6%. Thirteen of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Power losing the most, 1.70%.
The market breadth was skewed in the favour of bulls. About 1,854 stocks advanced, 1,471 fell and 137 remained unchanged.
The decline in consumption was led by price hikes.
Price hikes were higher in rural markets at 11.9% versus 8.8% in urban markets
There has been a 5.3% increase in the exit of small manufacturers due to input cost pressure, and not being able to pass on the costs to the consumers.
Source: FMCG Q1 Snapshot, NielsenIQ
CGST at ₹25,036 crore
SGST at ₹32,001 crore
IGST stands at ₹73,345 crore (including ₹ 37469 crore collected on import of goods)
Cess at ₹10,502 crore (including ₹931 crore collected on import of goods)
This marks the third consecutive month where collections have remained above Rs. 1.4 lakh crore since March 2022.
Source: PIB
The MidCap index underperformed its larger peers, losing 0.10% while the SmallCap index outperformed, rising over 0.5%. Fifteen of the 19 sectoral indices compiled by BSE Ltd. declined with Power and Utilities indices falling over 1.5%.
The market breadth is skewed in the favour of bulls. About 1,830 stocks rose, 1,398 fell and 147 remained unchanged.
Auto Sales In May 2022: Bajaj Auto Volumes Fall 11%, Escorts' Rises Marginally
Renu Narang succeeds Anil Kumar Gautam, whose term came to an end of May 31, 2022.
Renu Narang has over 34 years of experience in Finance, with a career spanning over areas of international finance, budgeting, financial concurrence, investor services, treasury and commercial and regulatory issues.
The terms and conditions of the appointment including remuneration will be as per NTPC's existing policy.
Source: Exchange filing
HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans by 5bps, with effect from June 1, 2022
Source: Exchange filing
Manufacturing PMI at 54.6 in May from 54.7 in April.
May survey pointed to a sustained recovery across the sector.
The above-50.0 reading was the eleventh in as many months and consistent with a solid improvement in operating conditions.
Output prices increase at fastest rate since October 2013.
Source: IHS Markit
Rupee rises 0.11% to 77.55 against the dollar, during the session.
The Indian currency has trimmed the gains to 77.57.
Source: Exchange filing
Punjab National Bank raises MCLR lending rates by 15bps across tenors.
Source: Exchange filing
Shares of digital signature certificate provider eMudhra Ltd. got listed at a premium after the company's IPO received good response from investors last week.
The stock listed at Rs 270 apiece on the National Stock Exchange, a 5.47% premium to issue price of Rs 256. The stock pared gains in the first half hour of trade, slipping to an intraday low of Rs 256.25.
Source: NSE, Bloomberg
Shares of Rail Vikas Nigam rose nearly 5%, the most in over five weeks.
The surge comes after Northeast Frontier Railway has awarded the company a contract for construction of single-kline BG tunnel.
The estimated project cost is Rs 560 crore.
Trading volume is more than thrice the 30-day average. Share price crossed above 50-day and 200-day simple moving average, indicating potential upward price momentum
Source: Exchange filing, Bloomberg
2-Wheelers sales up 3.7% YoY to 2,49,499 units
Commercial Vehicles sales down 16% YoY to 26,369 units
Exports down 22% YoY to 1,63,560 units.
Shares of Bajaj Auto fell over 3.5%, the most in four weeks. Trading volume is nearly twice the 30-day average.
Of the 53 analysts tracking the company, 39 maintain 'buy', 10 suggest 'hold' and four recommend 'sell'. The return potential of the stock is 10%.
Source: Exchange filing
Adani Shares Hit by Selloff in Wake of MSCI Review
The market breadth was skewed in the favour of bulls. About 1,823 stocks advanced, 548 declined and 103 remained unchanged.
Future Group promoters are in talks with Mukesh Ambani-led Reliance Industries to sell the group's supply chain and logistics businesses, reports Livemint, citing two people aware of the matter said.
Biyani family is also in separate talks with at least three large investors, including Azim Premji's Premji Invest and billionaire investor Rakesh Jhunjhunwala to sell Future Lifestyle Fashions, according to the report
Source: Livemint
Vodafone Idea: The company denied media reports that said that Vodafone Idea is in talks with Amazon and other investors to raise Rs 20,000 crore. “Currently, there is no proposal as reported by the media that is being considered by the Board,” it said.
HFCL: The company has received order worth Rs 237.25 crore from a domestic private telecom operator for supply of Optical Fibre cables.
Rail Vikas Nigam: Joint venture RVNL-Bhartia was awarded a letter of acceptance for construction of single line BG tunnel by Northeast Frontier Railway. The total estimated cost of the project is Rs. 560.26 crore.
Bharat Dynamics: The company has signed a contract worth Rs 2,971 crore with the Ministry of Defence for supply of ASTRA MK-I Beyond Visual Range Air to Air Missile and associates equipments to Indian Air Force & Indian Navy.
Bank of Baroda: The bank revised dividend to Rs 2.85 per share of face value of Rs 2 each.
Asian Granito: Search Operation was carried out by Income Tax Department at various locations of the company during the period from May 26-31.
Somany Ceramics: Company’s Chief Financial Officer Saikat Mukhopadhyay has resigned with effect from May 31.
Bata India: To sell 2.8% stake at floor price of Rs 1,750 (7% discount)
Stocks in Asia rose on Wednesday. U.S. futures advanced, while bond yields gained amid concerns over aggressive monetary tightening.
Shares were higher in Japan and Australia. S&P 500 and Nasdaq 100 futures gained. The Nasdaq 100 fell for the fourth month in five.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell 0.72% to 16,440 points as of 6:40 a.m.
Oil rose above $115 a barrel ahead of a meeting of ministers from the group on Thursday to discuss its supply policy for July.
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