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Benchmarks end with small losses; Nifty ends below 16,250; FMCG shares jump

Published on May 18, 2022 16:45

The key equity indices reversed intraday gains and ended with minor cuts on Wednesday. The Nifty reversed from the day`s high of 16,399.80 and settled below the 16,250 mark. FMCG, pharma and healthcare shares rallied. Meanwhile, realty, banks and IT shares declined.

The barometer index, the S&P BSE Sensex, fell 109.94 points or 0.20% at 54,208.53. The Nifty 50 index lost 19 points or 0.12% to 16,240.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.13% while the S&P BSE Small-Cap index rose 0.33%.

The market breadth was positive. On the BSE, 1,910 shares rose and 1,440 shares fell. A total of 116 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell to 7.355% as compared with 7.366% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 77.6100, compared with its close of 77.4400 during the previous trading session.

MCX Gold futures for (3 June 2022) settlement fell 0.01% to Rs 50,169.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, rose 0.14% to 103.50.

In the commodities market, Brent crude for June 2022 settlement rose $1.12 or 1% to $113.05 a barrel.

Global Markets:

Shares in Europe declined while markets in Asia ended higher on Wednesday following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he`s resolved to raise rates until inflation comes down.

On the macro front, Japan`s economy shrank 1% on an annualized basis in January-March as compared with the previous quarter, data showed Wednesday.

In the US, consumer spending on retail rose 0.9% in April, according to the U.S. Census Bureau. Retail sales excluding autos rose 0.6% in April.

Buzzing Segment:

The Nifty FMCG index rose 1.25% at 37,989.05. The index has risen 3.34% in two sessions.

Marico (up 4.15%), Tata Consumer Products (up 3.10%), Colgate-Palmolive (India) (up 2.14%), Hindustan Unilever (up 2.05%), Dabur India (up 1.73%), Godrej Consumer Products (up 1.26%), ITC (up 0.68%), Britannia Industries (up 0.65%), United Spirits (up 0.34%) and Nestle India (up 0.04%) surged.

Earnings Impact:

Indian Oil Corporation (IOCL) slipped 5.10% after the company reported 31.4% fall in standalone net profit to Rs 6021.88 crore despite a 43.2% increase in net sales to Rs 1,77,287.31 crore in Q4 FY22 over Q4 FY21. Total expenses increased by 29.5% YoY to Rs 1,99,327.91 crore during the quarter.

DLF declined 2.72%. The realty major reported 15.7% fall in consolidated net profit to Rs 405.33 crore on a 9.7% decline in net sales to Rs 1,547.26 crore in Q4 FY22 over Q4 FY21. Profit before tax stood at Rs 307.30 crore in the fourth quarter, down by 26.5% from Rs 418.15 crore in the same period last year. The company reported a 6.3% decline in total expenditure to Rs 1,179.72 crore in Q4 FY22 over Q4 FY21.

PI Industries jumped 3.69% after the company reported 14% rise in consolidated net profit to Rs 204.4 crore on a 17% increase in revenue to Rs 1,395.2 crore in Q4 FY22 over Q4 FY21. The revenue growth of driven by price increase of approximately 7% and balance from volume growth. While exports grew by 11% over a high base, domestic revenues jumped 47% in Q4 FY22 over Q4 FY21.

Jubilant Ingrevia declined 3.55% after the company reported 28% decrease in consolidated net profit of Rs 69 crore in Q4 FY22 compared with net profit of Rs 95 crore in Q4 FY21. During the quarter, total revenue from operations stood at Rs 1,296 crore in Q4 FY22, reporting a growth of 20% from Rs 1,078 crore in Q4 FY21.

NOCIL jumped 4.48% after the company`s consolidated net profit surged 85% to Rs 69 crore on a 44% jump in net revenue from operations to Rs 463 crore in Q4 FY22 over Q4 FY21. The company said that the selling price increase continues to offset input price rise with a time lag and to compensate for the higher freight cost as well as utilities impact.

Dr. Lal PathLabs tumbled 6.04% after the company reported 26.5% fall in consolidated net profit to Rs 61.3 crore in Q4 FY22 compared with the net profit of Rs 83.4 crore in Q4 FY21. Net sales stood at Rs 485.5 crore for the quarter ended 31 March 2022 as against Rs 431 crore during the same period in the previous year, registering a growth of 12.65%.

Nucleus Software Exports surged 10.83% after the company`s consolidated net profit surged 112.2% to Rs 18.72 crore in Q4 FY22 from Rs 8.82 crore in Q3 FY22. Revenue from operations increased 28.7% QoQ to Rs 140.72 crore during the quarter. Total expenses rose 11.9% to Rs 119.84 crore in Q4 FY22 over Q3 FY22.

Indian Overseas Bank advanced 4.12% after the bank`s net profit rose 57.9% to Rs 552.38 crore despite a 5.8% fall in total income to Rs 5,718.68 crore in Q4 March 2022 over Q4 March 2021. The bank`s profit before tax (PBT) increased by 74.7% to Rs 400.19 crore in Q4 March 2022 over Q4 March 2021.

Galaxy Surfactants rallied 4.44% after the company posted a 25.1% rise in consolidated net profit to Rs 98.4 crore on a 34.4% rise in net sales to Rs 1,052.94 crore in Q4 FY22 over Q4 FY21. Consolidated profit before tax surged 33.7% to Rs 124.36 crore in Q4 FY22 from Rs 93.02 crore in Q4 FY21. EBITDA for Q4 FY22 stood at Rs 146.2 crore as against Rs 120 crore in Q4FY21, registering a growth of 22% on a YoY basis. EBITDA margin stood at 13.9% in Q4 FY22 from 15.3% in Q4 FY21.

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