Apr 25

Daily Market Commentary : 22nd April 2016

The Indian equity market ended flat with the Nifty snapping a six-day winning streak. Nifty ended with loss of 12 points to close at 7900 while Sensex ended with a loss of over 42 points at 25838.

Food & Tobacco stocks are trading on a mixed note with Wadala Commodities and VST Industries leading the gains. As per a leading financial daily, Nestle India has reported that its noodle brand Maggi has managed to garner 50% market share in five months of its relaunch. This marks a major upside for the FMCG major that had been hit last year after the ban on Maggi noodles due to alleged presence of excessive lead content.

Nestle India Ltd is one the biggest players in the FMCG segment. It has its presence in milk & nutrition, beverages, prepared dishes & cooking aids & chocolate & confectionery segments. Presently, its stock is trading down by 0.2%.

Banking stocks rallied on a media report the Reserve Bank of India trimmed the list of companies whose loans need to be provided for against the risk of default.

ICICI Bank, SBI, Coal India, Bank of Baroda, BPCL, Tata Motors and ONGC were among the gainers on NSE, whereas Wipro, Bharti Infratel, UltraTech Cement, BHEL, ACC and Ambuja Cement were among the losers today.

Equitas Holdings debuted at the exchanges at Rs 146.53 per share, up 33% from issue price of Rs 110. The stock ended at Rs135 surging 22%. Its IPO price was at Rs110 per share. The company attracted demand for more than 17 times the number of shares on sale in its IPO.

Wipro cracked 7% to Rs.559 on BSE. The company reported a fall in profit in Q4 ending 2015-16. Its consolidated net profit dipped 1.6% to Rs 2,235 crore for the quarter ended March against a net profit of Rs 2,272 crore in the same quarter last fiscal. The company’s revenue, however, rose 12.9% to Rs 13,741.7 crore during the reported quarter, from Rs 12,171.4 crore in the year-ago period.

Automobile stocks are trading mixed with Mahindra & Mahindra (M&M) and Maharashtra Scooters leading the losses. In another news update it was reported that Bajaj Auto is aiming to sell three lakh three-wheelers in the current fiscal, up by 17% over the last fiscal. The company had sold 2,54,967 three-wheelers during the 2015-16 fiscal.

USDINR trade today to close at 66.33

Out of 1,429 stocks traded on the NSE, 846 declined and 533 advanced.

Top 5 Nifty Gainers: Bharti Airtel (2.18%) TCS (0.99%), Adani Ports & Sez (0.98%), SBI (0.98%), and Bajaj Auto (0.77%).

Top 5 Nifty Losers: Reliance Ind. (-2.15%), NTPC (-2.03%), Tata Steel(-1.92%), Sun Pharma. (-1.62%) and HDFC (-1.41%).

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.