Mar 31

Daily Market Commentary : 31st March 2017

Today Indian share markets finished the trading day Dull End to the Week “Oil & Gas Stocks Rally“.

The S&P BSE Sensex ended at 29,647.42, up 115.99 points while the Nifty closed at 9,173.75, 29.95 points higher.

Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.38%, while the Nikkei 225 & Hang Seng fell 0.81% and 0.78% respectively. European markets are lower today with shares in London off the most. The FTSE 100 is down 0.48% while France’s CAC 40 is off 0.36% and Germany’s DAX is lower by 0.08%.

Indian Oil Corporation share price surged 3.5% as the company signed a memorandum of understanding to supply petroleum products to Nepal Oil Corporation (NOC) for a further five years.

Indian Oil has been supplying petroleum, oil and lubricants (POL) to NOC since 1974 when the first supply agreement was signed, which has been renewed periodically. The latest agreement has been signed for the period of April 2017 to March 2022.

This agreement will enable NOC to meet its requirements of all major POL products, including petrol, diesel, kerosene, aviation turbine fuel and LPG. Under the new agreement, Indian Oil will supply BS-IV grade fuels to Nepal from 1 April to assist the country with opting for greener fuel.

Nifty Bank index fell 0.8 percent due to correction in private banks but PSU Bank index gained 0.35 percent on hopes of NPA resolution. SBI rose 0.9 percent whereas HDFC Bank, Axis Bank and ICICI Bank were down around 1.5 percent each.

Metal gained the most among sectoral indices, up over a percent supported by Hindalco, JSPL, Coal India, Tata Steel and NALCO that gained 1-3 percent.

Among others, HDFC, ITC, Infosys, TCS, HUL and Tata Motors were down 0.4-1 percent whereas L&T, Maruti Suzuki and NTPC gained more than 1 percent.

Fertiliser stocks gained 2-6 percent on likely change in urea subsidy while IOC rallied 3.4 percent on addition in Nifty 50 index.

The rupee was trading at 64.83 per US dollar.

Top 5 Nifty Gainers: RELIANCE (3.93%), IOC (2.71%), HINDALCO (2.23%), ACC (2.19%) and NTPC (1.69%).

Top 5 Nifty Losers: HDFCBANK (-1.79%), ICICIBANK (-1.78%), GRASIM (-1.69%), AXISBANK (-1.69%) and HDFC (-1.32%)

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Mar 30

Daily Market Commentary : 30th March 2017

Today Indian share markets finished the trading day on a firm note as the country moved a step closer to implementing a nationwide goods and services tax (GST) from 1st July.

The NSE Nifty gained 29.95 points at 9,173.75 while the BSE Sensex was up 115.99 points at 29,647.42.

Asian equity markets finished lower today with shares in China leading the region. The Shanghai Composite is down 0.96% while Japan’s Nikkei 225 is off 0.80% and Hong Kong’s Hang Seng is lower by 0.37%. European markets are mixed. The DAX is higher by 0.11%, while the FTSE 100 is leading the CAC 40 lower. They are down 0.04% and 0.03% respectively.

Meanwhile, the rupee was trading at Rs 64.93 against the US$ in the afternoon session. Oil prices were trading at US$ 49.41 at the time of writing.

The broader markets also gained momentum, with the BSE Midcap rising 0.4 percent and Smallcap up nearly a percent. About two shares gained for every share falling on the exchange.

HDFC Bank and Adani Ports were leading contributors to Sensex’ gains, up 2.51 percent and 5.77 percent on value buying, respectively.

Kotak Mahindra Bank gained 0.4 percent as the bank will raise up to approximately Rs 5,500 crore through issue of up to 6.2 crore equity shares.

Reliance Industries was up over a percent after the company completed sale of entire its 76 percent stake in Mauritius-incorporated Gulf Africa Petroleum Corporation to Total.

The rupee was trading at 64.93 per US dollar.

Top 5 Nifty Gainers: ADANIPORTS (6.23%), EICHERMOT (2.65%), GAIL (2.32%), HDFCBANK (2.20%) and INDUSINDBK (2.05%).

Top 5 Nifty Losers: IDEA (-1.80%), BHEL (-1.64%), COALINDIA (-1.53%), BOSCHLTD. (-1.51%) and TATASTEEL (-1.42%)

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Mar 29

Daily Market Commentary : 29th March 2017

Today Indian share markets finished the trading day on a positive note.

NSE Nifty closed at 9143 levels, up by 43 points or 0.4%, while BSE Sensex closed at 29,531 levels, up by 121 points or 0.4%.

Bharti Infratel share price rallied 5.4% after a consortium of global private equity firms KKR and Canada Pension Plan Investment Board (CPPIB) bought 10.3% stake in tower infrastructure firm from open market. The consideration from stake sale is Rs 68.1 billion.

Asian equity markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.19% and the Nikkei 225 rose 0.08%. The Shanghai Composite lost 0.36%. European markets are higher today with shares in Germany leading the region. The DAX is up 0.56% while France’s CAC 40 is up 0.25% and London’s FTSE 100 is up 0.03%.

While, BSE Mid-cap Index closed up 0.31% at 13930 whereas, BSE Small-cap Index closed up 0.31% at 14196.

UCAL Fuel Systems limited closed at Rs 218 per share, up by Rs 36 per or 19%

Nutraplus India Limited closed at Rs 24 per share, up by Rs 4 or nearly 19%.

Kolte-Patil Developers Limited closed at Rs 189 per share, up by Rs 27 or 17%.

Shalimar Paints Limited closed at Rs 171 per share, up by Rs 19 per share or 13%.

There were 597 advances, 824 declines and 351 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

The rupee was trading at 64.90 per US dollar.

Top 5 Nifty Gainers: INFRATEL(6.07%), SBIN (2.34%), ICICI BANK (1.91%), HCLTECH (1.64%) and HINDALCO (1.53%).

Top 5 Nifty Losers: HERO MOTO CO. (-2.68%), SUN PHARMA (-1.80%), AURO PHARMA (-1.33%), GRASIM. (-0.91%) and TATAMTRDVR (-0.82%)

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