Feb 04

Daily Market Commentary – 4 Feb 2015

Indian equity market remained volatile throughout the day and front-line indices pared their gain in the last hour trading session due to the selling pressure on banking and capital goods stock. BSE Sensex plunged by 117.03 points and ended the day at 28,883.11 while Nifty ended the day at 8,723.70 down by 32.85 points.

Tata Power beats the market expectation as its consolidated net profit was Rs 198 crore during October-December quarter aganist 134 crore polled by analyst. Comapny had a loss of Rs 74.91 crore in the year-ago period. Net sales increased 1.2 percent to Rs 8,806.6 crore in the quarter ended December 2014 from Rs 8,700 crore in same quarter last fiscal. While in its filing company said that the power business grew 9.8 percent year-on-year to Rs 6,545.7 crore with EBIT rising 5 percent but coal revenue fell 18 percent to Rs 2,104 crore with EBIT surging 17.4 times in Q3FY15.

The rupee on wednesday weakend by 8 paise to end at 61.75 against the greenback on on the back of US interest rate outlook.

Among the sectorial indices of NSE CNX Metal was top gainer, surged by 2.09% followed by CNX Realty (1.15%) and CNX Pharma (0.92%) while CNX PSU Bank led the laggards by plunging 1.53% accompained by CNX Media (-1.31%) and CNX Auto (-1.20%).

Market breath of NSE remain negative for the day with 695 negative against 513 positive and 47 remain unchanged.

Out of 50 stocks of Nifty 19 ended in green and 31 in red.

Top 5 Nifty Gainers: Hindalco (3.62%), CAIRN (3.44%), Tata Power (3.03%), ONGC (2.38%) and Coal India (2.23%).

Top 5 Nifty Losers: Axis Bank (-4.45%), BHEL (-3.97%), ZEEL (-2.71%), Tech Mahindra (-2.59%) and SBIN (-2.58%).

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