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 financial stocks were in demand while metals, IT and oil & gas stocks corrected.
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 headline indices witnessed some bit of bargain buying. In the past three sessions, the Sensex declined 0.51% while the Nifty lost 0.62%.
In the broader market, 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, 2,020 shares rose and 1,365 shares fell. A total of 181 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.30% to 20.97.
Numbers to Watch:
The yield on India's 10-year benchmark federal paper fell to 7.374 as compared with 7.424 at close in the previous trading session.
In the foreign exchange market, the rupee was slightly lower against the dollar. The partially convertible rupee was hovering at 78.95, compared with its close of 78.94 during the previous trading session.
MCX Gold futures for 5 August 2022 settlement rose 0.27% to Rs 52,055.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.21% to 104.92.
In the commodities market, Brent crude for September 2022 settlement rose 24 cents or 0.21% at $111.39 a barrel.
Foreign Markets:
European stocks advanced across the board 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.
Buzzing Index:
The Nifty FMCG index rose 2.66% to 39,755.65. The index has added 5.55% in two sessions.
Godrej Consumer Products (up 4.48%), Hindustan Unilever (up 3.84%), United Breweries (up 3.38%), Britannia Industries (up 2.96%), Dabur India (up 2.66%), ITC (up 2.51%), Emami (up 2.42%), Procter & Gamble Hygiene & Health Care (up 2.25%), Radico Khaitan (up 2.05%), Tata Consumer Products (up 1.45%), Marico (up 1.44%), Nestle India (up 0.87%), United Spirits (up 0.82%) and Colgate-Palmolive (India) (up 0.36%) advanced.
Stocks in Spotlight:
HDFC Bank added 0.13%. 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 5.26%. 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).
Angel One jumped 4.35%. 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 3.21%. 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.
Adani Ports and Special Economic Zone rose 0.52%. 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 0.06%. 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.
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