Apr 12

Daily Market Commentary : 12th April 2017

After consolidation, the market started inching towards its record highs on hopes of improvement in January-March quarter earnings that will begin with Infosys numbers on April 13.

With this rally, experts feel valuations already stretched and even a lot of midcaps are at peak levels. According to them, the earnings season is expected to be the only driver for the market from hereon.

NSE Nifty closed closed at 9203 levels down by 33 points or 0.36%, while BSE Sensex closed at 29643 levels down by 144 points or 0.49%.

Asian stock markets closed mixed on Wednesday, as tensions continue to ratchet up on the Korean Peninsula following a warning from North Korea of a nuclear attack (Subscription Required) on the U.S. The Hang Seng gained 0.93%, while the Nikkei 225 & the Shanghai Composite fell 1.04% and 0.46% respectively. European markets are higher today with shares in France leading the region. The CAC 40 is up 0.44% while Germany’s DAX is up 0.34% and London’s FTSE 100 is up 0.30%.

Bosch Limited was the top Nifty gainer and Tata Steel was the top Nifty loser. Bosch Limited closed higher by 3.7% at Rs 23600 per share and Tata Steel Limited closed lower by 2.2% at Rs 477.5 per share.

The broader market indices shown weakness in the Wednesday’s trade. BSE Mid-cap index closed lower by 0.22% at 14346 level while BSE Small-cap index closed lower by 0.49% at 14852 level.

Delta Corp Limited suffered losses in the Wednesday’s trade owing to the news of possible merger of union territory Daman & Diu with the state of Gujarat as reported in a national business daily. Market analysts believe that Prime Minister Narendra Modi might take decision regarding the same when he visits the union territory on April 17. The stock closed at Rs 168.9 per share down by nearly 6.7%.

Goa carbon touched its fresh 52-week high of Rs 156.9 per share up by nearly 19% owing to the company’s staggering profit in Q4 March 2017 as per BSE filings.

The FMCG heavyweight stock, ITC Limited touched its intraday high of Rs 285 per share in the lunch hours on Wednesday but slipped further to close at Rs 281.8 per share down by 0.12%.

Aditya Birla Fashion and Retail Ltd closed higher by 4.8% at Rs 179.15 per share.

Mangalore Refinery & Petrochemicals Ltd. closed higher by 4.5% at Rs 117.95 per share.

Apcotex Industries Ltd. closed higher by 11.5% at Rs 352.5 per share.

Adf Foods Ltd closed higher by 14.5% at Rs 202.35 per share.

There were 484 advances, 939 declines and 34 unchanged stocks on NSE reflecting fairly negative bias floating in the market.

The rupee was trading at 64.69 per US dollar.

Top 5 Nifty Gainers: Bosch Ltd. (3.75%), Bharti Infratel Ltd. (3.32%), Sun Pharma Ltd. (2.31%), Eicher Motors Ltd.  (1.70%) and Yes Bank (1.19%).

Top 5 Nifty Losers: Tata Steel (-2.16%), GAIL (-1.99%), Wipro (-1.99%), Hindalco Industries Ltd. (-1.99%) and Zee Entertainment Enterprises Ltd. (-1.96%)

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Apr 11

Daily Market Commentary : 11th April 2017

Indian benchmark indices entirely recovered previous day’s losses. Markets sustained optimism at the day’s close. Markets surged in the morning hours and then consolidated throughout the day with minor upside moves

Nifty and Sensex closed at 9236 and 29788 gaining 55 and 212 points respectively from the previous close.

Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.60%, while the Hang Seng & the Nikkei 225 fell 0.72% and 0.27% respectively. European markets are mixed. The FTSE 100 is higher by 0.45%, while the DAX is leading the CAC 40 lower. They are down 0.23% and 0.11% respectively.

On sector specific front PSU Bank surged 2%. FMCG, Realty and and all other Banking and Financial sectors followed with 1% or more. Metal and Media were the only major sectors that slid 1.5% and 0.6%.

ITC, ICICI Bank and Ambuja Cements were the top gainers while Adani Ports, ZEEL and Tata Power were the top losers for the Nifty.

Kopran closed at Rs 97 per share up by Rs 14.45 or 17.5%.

Honda Power closed at Rs 1465 per share up by Rs 130 or 9.7%.

Nitco Ltd closed at Rs 67 per share, up by Rs 5.5 or 9%.

KTK Bank closed at Rs 159.3 per share up by Rs 13 or 9%.

The Midcap index gained 0.4% but underperformed the benchmark while Smallcap outperformed with 1% gains. Market breadth remained highly positive with 1035 advances and 631 declines on NSE reflecting positive bias.

The rupee was trading at 64.54 per US dollar.

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Apr 10

Daily Market Commentary : 10th April 2017

Indian share markets edged lower in the afternoon session as investors awaited March-quarter earnings results.

NSE Nifty closed at 9177 with 0.23% loss; while BSE Sensex closed at 29576, shedding 130 points from the previous close.

Markets were dragged majorly by Infosys, ahead of the corporate earnings data due on April 13, 2017.

Broader markets outperformed the benchmark indices where Smallcap and Midcap closed with 0.6% plus gains.

RBL Bank share price surged 5.5% after the bank entered the list of India’s 10 most valuable banks. RBL Bank stock was trading at new record high of Rs 587.50 on the BSE.

Asian equity markets finished mixed as of the most recent closing prices amid rising worries about geopolitical risks. The Nikkei 225 gained 0.71%, while the Shanghai Composite and the Hang Seng indices declined. They fell 0.52% and 0.02% respectively. European markets are trading lower. The FTSE 100 is higher by 0.07%, while the CAC 40 and DAX are trading lower. They are down 0.42% and 0.14% respectively.

IOC, BPCL and Grasim were the top gainers with 3% plus gains; while Infosys came in as the top loser with 3.1% losses. Asian Paints and India bulls Housing Finance followed with 2.2% and 2% losses respectively.

Apollo tyres share price finished the day up by 1.9% on the BSE.

Adani Transmission closed at Rs 94.15 per share, up by Rs 12.8 or 15.73%.

Madhucon Projects closed at Rs 53.4 per share, up by Rs 6.3 or 13.4%.

Tata Sponge Iron closed at Rs 826 per share, up by Rs 97 or 13.3%.

Bhushan Steel closed at Rs 68.35 per share, up by Rs 8 or 13.3%.

The rupee was trading at 64.44 per US dollar.

Top 5 Nifty Gainers: IOC (3.55%), BPCL (3.21%), GRASIM (3.14%), YESBANK (2.98%) and INFRATEL (2.42%).

Top 5 Nifty Losers: INFY(-3.11%), ASIANPAINT(-2.21%), IBULHSGFIN(-2.09%), HCLTECH(-1.89%) and WIPRO(-1.57%)

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