The domestic equity benchmarks ended with decent gains after a volatile session on Monday. The Nifty closed above the 15,820 mark after hitting the day's low of 15,661.80 in morning trade. FMCG, banks and financials shares advanced while metal, IT and pharma stocks declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, advanced 326.84 points or 0.62% to 53,234.77. The Nifty 50 index gained 83.30 points or 0.53% to 15,835.35.
The key equity barometers witnessed some bit of bargain buying as well. In the past three sessions, the Sensex had declined 0.51% while the Nifty had lost 0.62% during the same period.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.82% while the S&P BSE Small-Cap index added 0.59%.
The market breadth was positive. On the BSE, 2022 shares rose and 1366 shares fell. A total of 178 shares were unchanged.
Buzzing Index:
The Nifty FMCG index rose 2.66% to 39,755.65. The index has added 5.55% in two sessions.
Hindustan Unilever (up 4.04%), Godrej Consumer Products (up 3.76%), United Breweries (up 3.37%), Britannia Industries (up 3.19%) and Dabur India (up 2.68%) were the top index gainers.
Further, ITC (up 2.6%), Procter & Gamble Hygiene and Health Care (up 2.36%), Emami (up 2.18%), Radico Khaitan (up 1.86%) and Marico (up 1.72%) edged higher.
Stocks in Spotlight:
HDFC Bank added 0.17%. 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. The bank's deposits aggregated to approximately Rs 16,05,000 crore as of 30 June 2022, a growth of around 19.3% over Rs 13,45,800 crore as of 30 June 2021.
IDFC First Bank gained 5.41%. The bank's total customer deposits rose 20.6% to Rs 1,02,363 crore as on 30 June 2022 as against Rs 84,893 crore as on 30 June 2021. Gross funded assets aggregated to Rs 1,37,685 crore as on 30 June 2022, up 21% YoY.
IndusInd Bank rallied 2.95%. The bank's net advances stood at Rs 2,49,541 crore as of 30 June 2022, rising 18% over Rs 2,10,727 crore as of 30 June 2021. The private lender's deposits stood at Rs 3,03,094 crore as of 30 June 2022, up 13% year-on-year (YoY).
Adani Ports and Special Economic Zone rose 0.69%. The company said that it handled the highest ever monthly cargo volume of 31.88 MMT in June 2022, implying 12% YoY growth.
Mahindra & Mahindra Financial Services gained 0.62%. The NBFC recorded a disbursement of approximately Rs 3,750 crore in June 2022, registering a growth of 115% year on year (YoY) and a 27% month on month (MoM) growth.
Angel One jumped 4%. The brokerage firm said its client base jumped 96.9% to 10.41 million in June 2022 as against 5.29 million in June 2021.
Avenue Supermarts (DMart) advanced 3.40%. The company 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.
National Fertilizers (NFL) advanced 2.78%. The company's total fertilizer sales jumped 47% to 15.58 lakh MT (metric tonne) in April-June 2022 compared with 10.62 lakh MT recorded during the same period last year.
Va Tech Wabag gained 2.35%. The firm has secured a repeat order worth about Rs 430 crore from Reliance Industries.
Global Markets:
European stocks advanced across the board while while Asian stocks ended mixed on Monday.
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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