Sensex up 4.4% in 2022; ends last trading day 293 points lower at 60,841
After starting on an optimistic note, given the positive mood in global markets, the S&P BSE Sensex rallied to a high of 61393 in Friday’s morning trades. The benchmark index, thereafter, pared gains and slipped into the negative zone as the day progressed owing to weakness in index heavyweights ICICI Bank and HDFC twins.
A heavy bout of selling in late trade, saw the BSE index plunge to a low of 60,744 – down 293 points from the day’s high. The Sensex finally ended the day with a loss of 293 points at 60,841.
Despite the day’s loss, the BSE benchmark managed to gain 1.7 per cent this week, and also signed off the year 2022 on a winning note – 4.4 per cent higher.
The NSE Nifty 50 settled 86 points lower on the last trading day of the year, but was up 1.7 per cent this week and 4.3 per cent in 2022.
The broader markets outperformed the benchmark indices in trade today. The BSE Midcap index gained 0.4 per cent, while the Smallcap index advanced 0.8 per cent. The overall market breadth too was fairly positive, with nearly 2,200 advancing shares versus 1,300-odd declining stocks on the BSE.
In contrast the day’s performance, the broader indices were underperformers in the year 2022. The BSE Midcap index finished with a gain of 1.4 per cent as against the Sensex gain of 4.4 per cent. The Smallcap index was down 1.8 per cent for the year.
Sectorally, the BSE Consumer Durables index moved 0.8 per cent higher in trades on Friday. The Metal and Realty indices were the ofther notable gainers. On the other hand, FMCG, Power and Bankex finished in the negative zone.
Among the Sensex 30 shares, ICICI Bank was down over 1.5 per cent, and was solely responsible for a near 100 points loss on the 30-share benchmark. Bharti Airtel, HDFC, Nestle India, Mahindra & Mahindra, ITC, Asian Paints, Larsen & Toubro and PowerGrid Corporation were the other notable losers.
On the positive front, Bajaj Finserv rallied over 2 per cent. Titan, Bajaj Finance and Tata Steel were up over a per cent each.
New Listing, Elin Electronics witnessed a disappointing debut. The stock ended at Rs 229, down over 7 per cent when compared with its issue price of Rs 247 per share.
Among other individual stocks, Lotus Chocolate was locked at the 5 per cent upper limit after Reliance Consumer Products, a step-down subsidiary of Reliance Industries, said would 51 per cent controlling stake in Lotus for Rs 74 crore, and make an open offer to acquire up to additional 26 per cent stake.
Shares of Craftsman Automation hit a record high at Rs 3,710, before settling 7.8 per cent higher at Rs 3,507 after the acquisition of auto components maker – DR Axion India for Rs 375 crore. The acquisition will help both entities leverage their strengths and build better synergies.
Solar Industries also soared to an all-time high of Rs 4,488.50, and settled 5.4 per cent higher at Rs 4,390 on stable outlook going ahead. The government’s Atmanirbhar Bharat Abhiyan programme, which is aimed at curtailing import dependence and increasing the sourcing of indigenous defence products, presents large growth opportunities for companies such as Solar.
Here are some picks from the week gone by.
