Feb 27

Daily Market Commentary – 27 February 2015

Indian equity market surged post economic survey report which pegged the economy to grow at over 8% in FY16 indicatig announcement of  big bang reforms tomorrow. Sensex zooms over 470 points to recliams its important level of 29,000, and ended the day at 29,220.12 while Nifty ended over 8,800 up by 160 points at 8,844.60.

The survey see space for policy easing on the basis of lower inflation. Growth in 2014-15 which could be in and around 8% next year will be largely driven by domestic demand.

Survey emphasised on revitalising the PPP model, which has so far seen poor response from the private players on account of higher risks involved in the initial stage of projects.

Government expects fiscal deficit target of 4.1% for FY15 and CAD to be 1% of the GDP.

Meanwhile USDINR pair ended the day at 61.89 up by 14 paisa.

Among the Sectorial indices of NSE CNX Realty (4.46%), CNX PSU Bank  (4.09%) and CNX Metal (3.03%) were the top performer. On the other side CNX FMCG was the only loser of the day, plunging -0.03%.

Out of the 50 stocks of Nifty 47 stocks were advanced while 3 were declined.

Top 5 Nifty gainers: BOB (5.98%), Tata Power (5.32%), L&T (5.04%), Ultra Cement (4.96%) and Grasim (4.87%).

Top 5 Nifty losers: Gail (-0.88%), ITC (-0.67%) and BPCL (-0.24%).

Feb 24

Daily Market Commentary – 24 February 2015

Indian stock market turned volatile in the late afternoon session after remaining flat most part of the day amid lack of cues ahead of the Budget which ill be announced on February 28. 50 shares index Nifty ended the day at 8762.10 marginally up by 7 points to the previous close while Sensex ends the day at 29,004.66, gaining 29.55 points.

Meanwhile, the market participants were closely eyeing the developments in Parliament today as the Modi government tabled the land acquisition bill which is a basic requirement to pursue reforms promised by his government.

Analysts said that the markets are likely to remain sluggish in the run up to the Budget which will be announced on February 28.

Among the sectorial indices of CNX FMCG (1.50%), CNX Media (1.27%) and CNX Realty (0.44%) were the top performer while CNX Metal (-1.25%), CNX Energy (-0.95%) and CNX PSU Bank (0.58%) were wrost performer of the day.

Out of the 50 stocks of Nifty 27 ended in positive and 23 ended in negative.

Market breadth remained negative for NSE at the close today as 759 stocks falls against 415 advance while 35 remained unchanged.

Top Five Nifty gainers: HUL led the Nifty Gainers list and registered 3.18% gain followed KOTAK   BANK  (2.60%), ZEEL (2.48%), BPCL (2.41%) and L&T (2.09%).

Top Five Nifty Losers: JINDAL STEEL was the biggest loser and fell by -5.16% followed by CAIRN (-3.65%), SESA STERLITE (-3.58%), BOB (-3.13%) and ONGC (-3.06%).

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Feb 23

Daily market Commentary – 23 February 2015

Indian equity market extended its fall for second straight on the first day of the week, led by losses in oil & gas, metals and banks ahead of February series expiry and Union Budget this week. Nifty falls below its crucial level of 8,800 and ended the day at 8,754.95, plunged 78.65 points, while Sensex ended the day at 28,975.11 down by 256.30 points.

Meanwhile, the Budget session of the Indian government started today with the President Pranab Mukherjee addressing both the houses of the Parliament.

President Pranab Mukherjee said that inclusive growth was the government’s top priority and it was committed to expand the job market.

Shares of Jindal Steel Power and DLF fell after the National Stock Exchange decided to exclude both stocks from CNX Nifty 50. The exchange, however, will add telecom operator Idea Cellular and private sector lender YES Bank in the Nifty at the end of next month.

The rupee weakened by 6 paise to 62.2850 against the US dollar in the trade.

Among the sectorial indices of NSE all the major indices ended in negative zone. CNX Media was the wrost performer of the day by plunging -2.16% followed by CNX PSU Bank (-1.78%) and CNX Realty (-1.66%).

Out of the 50 stocks of Nifty 9 stocks ended in green while other 41 ended in red.

Top 5 Nifty Gainers: Powergrid (1.79%), Kotak Bank (1.37%), M&M (1.04%), TCS (0.91%) and Sesa Sterlite (0.64%).

Top 5 Nifty Losers: ZEEL (-4.47%), NMDC (-3.79%), Jindal Steel (-3.37%), DLF (-3.27%) and Reliance (-2.86%).

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