Feb 06

Daily Market Commentary – 6 Feb 2015

Indian equity market fell for 6th straight trading day on friday to end the week in the negative terrain on the back of selling pressure of heavyweights like tatamotors, Dlf, Bhel etc. Nifty fell below the important level of 8,700 to the end the day at 8,661.05 plunged by 50.65 points while Sensex lowered by 133.06 to end at 28,717.91.

Tata Motors shares fell on Friday after the company missed profit estimates in the December quarter. The stock headed towards its biggest daily fall in more than a year. Tata Motor’s net profit fell 25.5% year-on-year to Rs 3,581 crore; analysts had expected, on average, profit of Rs 4,924 crore. Continued weakness in domestic vehicle sales and a dip in Jaguar Land Rover sales dented Tata Motors’ profitability. Tata Motors, India’s biggest automaker by revenue, reported a 8.6% rise in consolidated sales at Rs 69,942 crore.

Meanwhile USDINR pair ended the day at 61.69 down by 3 paisa.

Tracking the momentum most of the NSE’s sectorial indices ended in red, CNX Auto was the top loser to plunged by 2.90%, followed by CNX Pharma (-1.73%) and Bank Nifty (-1.15%). CNX FMCG (0.91%) and CNX IT (0.85%) were only gainers of the day.

Out of the 50 stocks of Nifty 15 ended in positive and 15 ended in 35.

Top 5 Nifty Gainers: CAIRN (3.0%), HDFC (2.92%), NMDC (1.88%), Sesa Sterlite (1.66%) and Infosys (1.56%).

Top 5 Nifty Losers: DLF (-5.25%), Tata Motors (-4.96%), BHEL (-4.70%), Jindal Steel (-3.28%) and Tata Steel (-3.20%).

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