Apr 29

Daily Market Commentary : 28th April 2016

The little that we knew before the market opened was that sentiment was weak in global markets. It went from bad to worse as the day progressed. Bank of Japan today left its monetary policy unchanged and that seems to have disappointed markets world over. Further adjustments on account of F&O expiry in today’s trade further contributed to selling pressure on Dalal Street. Nifty closed with a a loss of 133 points at 7,847 while Sensex ended with a loss of 461 points at 25,603.

Monnet Ispat and Energy Ltd soared 9.7% at Rs.26.55. The company stated that Lenders need to sell their stake In Company as Per SDR Scheme.

Shares of KPIT Technologies were up over 4% after the company reported 20% jump in net profit for the quarter ended March 2016 at Rs 88.5 crore compared with Rs 73.5 crore in the previous quarter ended December 2015.

HCL Technologies dropped 4.5% to Rs.799.95. The company reported standalone net profit of Rs. 1675.45 crore for the quarter ended March 31, 2016, registering growth of 1.32% qoq and 7.07%..

Real-estate stocks rallied on back of heavy volumes after media report suggests that the BrihanMumbai Municipal Corporation has recommended an increase in permissible floor space index (FSI) in Greater Mumbai. D B Realty jumped 7.4% to Rs.50.05. HDIL, DLF, Phoenix and Godrej Properties surged between 3%-11%. Indiabulls Real Estate Ltd jumped 11.6% to Rs.63.45. The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 589.108 million for the Quarter ended March 31, 2016 as compared to Rs. 931.301 million for the quarter ended March 31, 2015.

Jindal Drilling & Industries rallied 8.7% to Rs.178. The company experienced a spurt in volumes by more than 28.08 times.

Elecon Engineering cracked 5.5% to Rs. 62.50.The company’s consolidated revenue stood at Rs. 414.69 crore, down 10.63% yoy but up 25.53%.

Gati Ltd gained 1.1% to close at Rs.120. The company posted a net profit of Rs. 155.40 million for the quarter ended March 31, 2016 as compared to Rs. 113.40 million for the quarter ended March 31, 2015.

USDINR trade today trading down 4 paise at 66.83

Out of 1,434 stocks traded on the NSE, 1,036 declined and 324 advanced today.

Top 5 Nifty Gainers: Lipun Ltd (2.27%) Maruti Suzuki (1.86%), ONGC (1.77%), Cipla (1.60%), and Tata Steel (1.58%).

Top 5 Nifty Losers: ICICI Bank (-0.92%), Bharti Airtel (-0.78%), M&M (-0.00%)

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