As per provisional closing basis, the barometer index, the S&P BSE Sensex, was down 111.01 points or 0.21% to 52,907.93. The Nifty 50 index fell 28.20 points or 0.18% to 15,752.05.
In the broader market, the S&P BSE Mid-Cap index rose 0.67% while the S&P BSE Small-Cap index added 0.09%.
The market breadth was positive. On the BSE, 1,749 shares rose and 1,534 shares fell. A total of 228 shares were unchanged.
Economy:
The Goods and Services Tax (GST) revenue in June rose to Rs 1.44 lakh crore, registering a 56% increase over the same month last year, Finance Minister Nirmala Sitharaman said on Friday. GST revenue for May stood at nearly Rs 1.41 lakh crore.
Meanwhile, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 53.9 in June, lower than 54.6 in May. The latest reading showed the weakest pace of growth since last September.
Further, the government has imposed special additional excise duty/cesses on exports of petrol and diesel of Rs 6 per litre and Rs 13 per litre on diesel, respectively. A cess of Rs 23,250 per tonne (by way of special additional excise duty) or windfall tax has been imposed on crude. A special additional excise duty (SAED) of Rs 6 per litre has also been imposed on exports of Aviation Turbine Fuel.
June Auto sales impact:
Escorts Kubota rose 1.64%. The company's total tractor sales declined 19.8% YoY to 10,051 units in June 2022 from 12,533 units sold in June 2021. On a sequential basis, tractor sales surged 19.36% in June 2022 from 8,421 units sold in May 2022. Domestic tractor sales in June 2022 stood at 9,265 tractors as against 11,956 tractors sold in June 2021, registering a fall of 22.5% year on year. Export tractor sales in June 2022 was at 786 tractors against 577 tractors sold in June 2021, recording a growth of 36.2%.
Bajaj Auto fell 2.20% after the two wheeler maker reported a marginal increase in total sales of 3,47,004 units in June 2022 compared with 3,46,136 units sold in June 2021. On a sequential basis, the company's total sales surged 25.79% from 2,75,868 units sold in May 2022. Domestic sales dropped 15% to 1,38,351 units in June 2022 as compared to 1,61,836 units in June 2021. Exports rose 13% to 2,08,653 units in June 2022 as against 1,84,300 units in June 2021.
Atul Auto gained 1.33% after the company's total sales surged 151.1% to 1,818 units in June 2022 as against 724 units in June 2021. Sequentially, Atul Auto registered a 1.33% rise in total sales from 1,794 units sold in May 2022. The total sales from April - June 2022 soared 199% to 5,205 units compared with 1,739 units in April - June 2021.
Ashok Leyland were down 0.81%. The company's total commercial vehicle (CV) sales jumped 125% to 14,531 units in June 2022 from 6,448 units sold in June 2022. Sequentially, the company's total CV sales rose 9.5% last month from 13,273 units sold in May 2022. While the total sales of medium & heavy commercial vehicles (M&HCV) surged 238% to 9,354 units, sales of light commercial vehicles (LCVs) climbed 41% to 5,177 units in June 2022 over June 2021.
Eicher Motors fell 0.20%. The company's unlisted subsidiary, VE Commercial Vehicles (VECV) sold 6,307 units of commercial vehicles (CV) in June 2022, registering a rise of 158.7% year on year from 2,438 units sold in June 2021. On a sequential basis, the company's CV sales increased 11.89% from 5,637 units sold in May 2022. During June 2022, the total domestic sales of Eicher trucks & buses soared 217.3% to 5,584 units while total exports declined 1.50% to 601 units over June 2021. Sales of total Volvo trucks & buses, stood at 122 units in June 2022, recording a growth of 79.4% over 68 units sold in June 2021.
Maruti Suzuki India was down 0.66%. The car major recorded total sales of 155,857 units in June 2022, increasing 5.76% from 147,368 units sold in June 2021. Total sales in the month include domestic sales of 125,710 units, sales to other OEM of 6,314 units and exports of 23,833 units. On a sequential basis, the company's total sales fell 3.44% from 161,413 units sold in May 2022. Total domestic sales rose by 1.29% year on year to 132,024 units in June 2022 as against 130,348 units sold in June 2021. Total exports surged 40.03% to 23,833 units in June 2022 from 17,020 units sold in June 2021.
Global markets:
European stocks advanced across the board while Asian shares ended in the red on Friday. Markets in Hong Kong were closed on Friday for a holiday.
China's Caixin/Markit manufacturing Purchasing Managers' Index for June was released Friday. It came in at 51.7, above the 50-level that separates growth from contraction. That compared to last month's reading of 48.1.
Sentiment at Japan's large manufacturers worsened in the April-to-June period, according to the Bank of Japan's quarterly tankan business sentiment survey. The headline index for large manufacturers' sentiment came in at 9, a decline from the previous quarter's reading of 14.
Japan's factory activity growth slowed in June as supply disruptions in part due to China's strict COVID-19 curbs hurt manufacturers. The final au Jibun Bank Japan Manufacturing purchasing managers' index (PMI) slipped to a seasonally adjusted 52.7 in June from a final 53.3 in the previous month.
U.S. stocks tumbled on Thursday on concerns that central banks determined to tame inflation will hamper global economic growth. Fears over slowing growth and surging prices have rippled through markets, with recession worries taking center stage as monetary policymakers across the world look to aggressively raise borrowing costs.
US consumer spending rose less than expected in May as motor vehicles remained scarce while higher prices forced cutbacks on purchases of other goods. Consumer spending gained 0.2% in May, the smallest rise in five months. Data for April was revised down to show outlays increasing 0.6% instead of 0.9% as previously reported.
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