SGX Nifty Up 25 Points, Hindustan Zinc Q1 Results, Institutional Investors Shun Indian Real Estate, and Top Buzzing Stocks Today

Fri, 22 Jul Pre-Open

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On Thursday, Indian share markets ended on a positive note, although there was some volatility amid weakness in global markets.

Benchmark indices extended the rally for the fifth straight day supported by private lender IndusInd Bank after its quarterly profit surged.

FIIs seem to be returning to the Indian markets, lifting investor sentiment.

At the closing bell on Thursday, the BSE Sensex stood higher by 284 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 84 points (up 0.5%).

IndusInd Bank, Bajaj Finance, and Bajaj Finserv were among the top gainers.

Dr Reddy's Laboratories, Tech Mahindra, and Kotak Mahindra Bank, on the other hand, were among the top losers.

The broader markets ended in the green. The BSE MidCap index ended higher by 1.2% and the BSE SmallCap index ended higher by 0.9%.

Barring pharma sector, all sectoral indices ended on a strong note today with stocks in the FMCG sector, banking sector, and media sector witnessing most of the buying.

At 8:00 AM today, the SGX Nifty was trading up by 25 points or 0.1% higher at 16,640 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Shares of Bajaj Auto and Adani Total Gas hit their 52-week highs.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also, check out the five Indian companies with over 7% in dividend yields.

IndusInd Bank, Wipro, and Reliance Industries were amongst the most active shares on the BSE yesterday.

Wipro shares were buzzing hot yesterday post its Q1 result announcement.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee fell and was trading at 79.78 against the US$.

As the rupee depreciates, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX was trading down by 0.9% at Rs 49,753 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX was trading down by 2.3% at Rs 54,355 per 1 kg, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Speaking of stock markets, 2022 will be marked in the history as the year of the biggest fall of IT stocks. Any company, whether it was fundamentally good or sound, all were taken to the cleaners in 2022.

However, the scenario started changing recently as IT stocks finally see a rise after the log fall. But is this it? Or this is just a little rise before they start falling again?

In the below video Chartist - Brijesh Bhatia explains whether the IT stocks are bottoming out.

Top Buzzing Stocks Today

PNC Infratech share price will be among the top buzzing stocks today.

PNC Infratech has signed concession agreements with National Highways Authority of India and the special purpose vehicles incorporated by the company for the two hybrid annuity mode projects for a total cost of Rs 16.2 bn.

Both the projects are to be constructed in 24 months, upon declaration of appointed dates and operated for 15 years, post construction.

PNC Infratech is engaged in infrastructure development through the construction of highways, airport runways, bridges, flyovers and power transmission projects among others.

Speaking of infrastructure stocks, here's a list of top 5 infra stocks.

Gland Pharma share price will also be in focus today.

Gland Pharma reportedconsolidated revenue of Rs 8.6 bn in the June 2022 quarter, down nearly 26% YoY.

Gland Pharma was plagued by various troubles in the June quarter such as supply constraints, shutdown of manufacturing lines and a slowdown in the India business.

A shortage of syringes resulted in overall revenue loss of Rs 1.7 bn across the US, India and rest of the world markets in Q1, while the high base from last year made matters worse.

If you are interested in pharma stocks, look at these 5 pharma stocks that are turn multibagger this year.

Market participants will also track shares of Relaince Industries, JSW Steel, and Ultratech Cement as these companies are set to announce their Q1 results later today.

Institutional investments in real estate down

According to a report, Institutional investments in Indian real estate fell 27% during the April-June period to US$ 966 m amid global economic and geopolitical headwinds.

As per the data, the institutional investments in the office segment of real estate rose to US$ 652 m in April-June 2022 from US$ 231 m in the corresponding period of the previous year.

The rebound in the office sector with a return-to-office and renewed leasing led to improved investment sentiments.

However, the institutional investments in the housing segment declined to US$ 60 m in April-June from US$ 78 m a year ago, while the inflow in retail real estate fell to US$ 51 m from US$ 278 m.

There was a preference for core assets, indicating an inclination for operational rent-yielding assets.

The credit flows from the banking sector witnessed sharp growth during the last three and half years.

The real estate sector lending by banks during the first five months of 2022 equals 75% of 2021 levels.

Speaking of real estate, read Equitymaster's recent editorial on how real estate players are riding the electric vehicle opportunity.

Hindustan Zinc Q1 results

Vedanta group firm Hindustan Zinc reported a 55.9% year-on-year rise in net profit to Rs 30.9 bn for the June 2022 quarter.

The firm had posted a net profit of Rs 19.8 bn in the corresponding quarter of the previous fiscal.

Sequentially, net profit was up 5.6% , driven by higher LME prices while being partially offset by the rising input commodity prices.

The revenue from operations during the quarter under review came at Rs 93.8 bn, an increase of 43.7% YoY, led by higher zinc volumes and zinc LME prices as well as favourable exchange rates while partly offset by lower silver prices.

EBITDA for the quarter came at Rs 52.8 bn, up 48.3% YoY.

Commenting on the performance, Arun Misra, CEO, said:

Hindustan Zinc delivered best first-quarter production for mined metal, refined metal & silver.

With the exit run-rate for both mined & refined metal crossing over one million tonnes, we are fully geared to deliver another stellar performance this year.

For more details, check out Hindustan Zinc news and analysis.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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