Stock Market Analysis
As of 16/02/2022
Dalal Street investors were on pins and needles as the geopolitical scenario shifted.
While the bulls hailed Russia’s declaration of the conclusion of the military “exercise” in Crimea, the bears gained the upper hand after NATO Secretary-General Jens Stoltenberg said that the movement of Russian soldiers alone does not imply departure.
Benchmark indexes had a lot of volatility, but they all finished up in red.
Bank and metal sectors witnessed selling, while real estate, pharmaceutical, and auto firms saw the demand, helping to keep the indexes afloat. Broader markets were mixed, with some buying in small caps.
The 30-share index Sensex dipped 145.37 points, or 0.25 percent, to 57,996.68. Its more comprehensive counterpart, the NSE Nifty, fell 30.25 points (0.17 percent) to 17,322.20.
Market Snapshot:
- Vedanta is down approximately 2% as Moody’s downgrades its outlook.
- Bharti Airtel is up 1% after UBS upgraded its shares.
- As ATF prices reach new highs, airline stocks drop up to 2%.
- As the dividend record date approaches, CAMS rises 6%.
- Vedant Fashion closes its debut day on bourses up 9 percent.
Divi’s Labs was the highest gainer among bluechip stocks, climbing 3.06 percent. Other notable gainers were ONGC, Adani Ports, Indian Oil, HDFC Life Insurance, Bharat Petroleum, and Bharti Airtel.
Market breadth favored gainers, with 2,028 equities in green and 1,325 stocks in red. A total of 116 equities, mainly from the smallcap market, achieved 52-week highs. Meanwhile, 20 stocks, mainly from the microcap area, reached 52-week lows. In addition, approximately 380 equities gained upper circuit limitations, and 240 stocks advanced lower circuit restrictions.
The European stock markets were trading in a choppy manner. The FTSE in London sank 0.31 percent, while the DAX in Paris and Frankfurt rose 0.02 percent and declined 0.08 percent, respectively. In Asia, all markets ended in the green.
