Stock Market Analysis
As of 03 March 2022
Domestic equities markets completed another day with losses as traders were frightened by geopolitical concerns.
However, rising crude prices lowered attitudes, suggesting that inflation may increase shortly. Weakness in financials, FMCG, and consumer durables stocks outweighed gains in metal and IT counters.
The 30-share Sensex index fell 366.22 points (0.66%) to 55,102.68. Its wider counterpart, the Nifty50, fell 107.90 points, or 0.65%, to 16,498.05. The BSE midcap index ended the day 1% lower, while the BSE smallcap index ended the day 1% higher.
“The domestic market’s depressed trend remained, although the amount of volatility is decreasing. In contrast to the overall market, large caps were more subdued today, pulled down by FIIs selling.”
Geojit Financial Services’ Head of Research, Vinod Nair, stated,
Tile and cement manufacturers were the most significant disappointments among the stock-specific companies.
In addition, concerns about supply disruptions increased input costs, and rising energy prices led to a decline in stock prices. On the other hand, PSU stocks were in strong demand among investors.
Gainers: -
State Trade Corporation of India: Based on a solid technical setup, the state-run trading, and commerce corporation hit an upper circuit of 20% to Rs 109.30. Traders were also looking forward to hearing from the administration.
Shipping Corporation of India: — In a regulatory filing, the Shipping Corporation of India proposed a program to demerger non-core assets, which boosted the stock by 18% to Rs 125.50.
Nahar Polyfilms: The containers and packaging firm rose 17% to Rs 483.25 in 2022 on strong demand, driving a 65 percent increase this year. Its manufacturing capacity on the 8.7 meter 5-layer BOPP line had recently been doubled.
LOSERS
Orient Bell: The tile producer fell 9% to Rs 563 after the BSE requested clarity from the business over the counter’s steep price and volume increase. In February, the stock soared by as much as 55%.
Kajaria Ceramics: Based on a wrong technical setup on the daily charts, the ceramic wall and floor tile manufacturer fell more than 7% to Rs 961.40. In the previous four sessions, the stock has lost nearly 18%.
Gujarat Gas: The state-owned gas distributor was walloped, falling 7% to Rs 525.90 amid mounting global worries, putting pressure on energy costs. The counter’s volume increased thrice.
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