Benchmark indices BSE Sensex and the NSE Nifty 50 ended nearly 1% lower on Friday after erasing all opening gains. The Sensex dived 0.8% or 460 points to settle at 57060.87, while the Nifty 50 plummeted 0.83% to finish trade at 17,102. There was heavy turbulence in the market due to fears of a global economic slowdown and a possible lockdown in China.
The Indian market lost 2% in April amid high volatility due to global and domestic worries.
During the month, the Nifty energy index added 10.6%, Nifty FMCG 6.5% and the Nifty Auto index was up 5%. However, the Nifty IT index tumbled by 13% and the Nifty Media index fell by 9%. The BSE midcap index rose 1.5% and the small-cap index rose by 1.7%. However, the large-cap index dived by 1.2%.
Market Movers
Top Gainers
Some of the top gainers include HDFC Life Insurance Company, Tata Consumer Products, Kotak Mahindra Bank, Torrent Pharmaceuticals, HDFC Bank, GAIL India and Sun Pharmaceutical Industries.
Top Losers
Stocks that shed their value included Axis Bank, Indraprastha Gas, Bajaj Holdings & Investment, ICICI Lombard General Insurance Company, Hindustan Petroleum Corporation, Coal India, Marico and Adani Ports and Special Economic Zone.
Currencies
| Price | Change | %Change | |
| Dollar-Rupee | 76.4250 | -0.06 | -0.07% |
| Euro-Rupee | 80.5510 | +0.07 | +0.09% |
| Pound-Rupee | 96.0080 | +0.52 | +0.54% |
Commodities
| Price | Change | %Change | |
| MCX GOLD | 51760.00 | +498.00 | +0.97% |
| MCX SILVER | 63505.00 | -412.00 | -0.64% |
| MCX CRUDEOIL | 8097.00 | +60.00 | +0.75% |
In this week’s recap, we shall talk about the LIC IPO, the stellar returns given by Gautam Adani and Mukesh Ambani led companies, India’s semiconductor plans, FII and DII action, and more!
The LIC IPO is set to hit the markets next week
As per information available on the BSE’s website, the LIC IPO will remain open for subscription from 4th May 2022 to 9th May 2022. The issue is an offer for sale and is worth ₹21,008.48 crores. The price band is from ₹902 to ₹949 per equity share. Investors can bid for a minimum of one lot and a maximum of 14 lots which comprise 15 shares each. The shares are available at a premium of ₹92 in the grey market as of 30th April 2022.
The Indian Economy may take more than a decade to recoup pandemic losses
According to ‘Scars of the Pandemic’, a chapter in a report published by the RBI, the Indian economy may take more than a decade to overcome the losses emanating from the COVID-19 pandemic. The report has estimated losses of ₹ 52 lakh crores due to the impact of consecutive COVID waves.
FII and DII Action
During the week, foreign institutional investors (FIIs) sold equities worth ₹ 11,446.52 crores, while domestic institutional investors (DIIs) bought equities worth ₹ 9,703.04 crores. During the month of April, FIIs sold equities worth ₹40,652.71 crores, while DIIs bought shares worth ₹ 29,869.52 crores.
Edible Oil Prices are likely to rise in the next few months
Edible oil prices are likely to witness a double-digit increase in the coming months due to geopolitical tensions and Indonesia’s decision to ban crude palm oil exports. The ban could remove about 2 million tonnes of palm oil supply from the global market every month. This amounts to nearly 50 per cent of the global monthly trade volumes. India is one of the major exporters of palm oil and the ban will result in an increase in consumer inflation. There was a spike in the share prices of most edible oil companies like Adani Wilmar, Ruchi Soya and so on.
The Market Capitalization of Reliance Industries Breached the ₹ 19 lakh crore mark!
Reliance Industries Limited, India’s most valued firm became the first Indian company to cross a market capitalization of ₹19 lakh crores. Earlier, in March, its market capitalization had gone past ₹ 18 lakh crores. Its share price reached a high of ₹ 2856.15 and closed at ₹ 2,799.70 apiece on Friday.
Will India become a semiconductor hub?
Prime Minister Narendra Modi on Friday urged the industry to make India a semiconductor hub of the world based on the principles of high technology, high quality and high reliability. He noted that India’s own consumption of semiconductors is expected to cost USD 80 billion by 2026 and USD 110 billion by 2030. The country has 20% of the world’s semiconductor designers and India can strive to become one of the key partners in global semiconductor supply chains
Four Stocks from the Adani Group hit their fresh 52 week highs this week
The share price of Adani Enterprises Limited, Adani WilmarLimited, Adani Power Limited, and Adani Ports and Special Economic Zone Limited surged to reach their fresh 52 week highs. This comes on the back of increased commodity prices and increased consumption of electricity due to the early onset of summer in India this year.
The Q4 Results Corner
Many companies reported their Q4 results this week. Some of them include Maruti Suzuki, IIFL Finance, Wipro, KPIT Technologies, Shree Digvijay Cement, Hindustan Unilever, Trent, UTI Asset Management Company, HDFC Asset Management Company, Aditya Birla Sun Life Asset Management Company, Jindal Hotels, Persistent Systems, Bajaj Auto, Indian Hotels, 5Paisa Capital, Axis Bank, SBI Life Assurance Company, and Laurus Labs.
