The Indian equity market started off the week on a weak note as benchmarks gradually slipped throughout the day led by selling pressure in the power, metals, oil & gas and the auto stocks. Even the mid-cap and small-cap indices ended in the red. IT and telecom indices were the exceptions as they managed to close with marginal gains. with a loss of 44 points at 7,855 while Sensex ended with a loss of over 159 points at 25679.

M&M Financial Services Ltd climbed 8% to Rs.297 after the company posted Q4 results. The Group has posted a net profit after taxes and minority interest of Rs. 4113.267 mn for the Quarter ended March 31, 2016 as compared to Rs. 3672.551 mn for the Quarter ended March 31, 2015

Kesar Terminals & Infrastructure rallied 10.6% to Rs.433.80 after the logistics company said that it has commenced rail terminal operations and movement of goods train from the Multimodal Composite Logistics hub of Kesar Multimodal Logistics (KMLL) – the subsidiary of the company at Powarkheda, district Hoshangabad, Madhya Pradesh (MP).

Kalpataru Power Transmission Ltd gained 1.8% to Rs.217 on BSE. The company received new orders in excess of Rs.1,150 crore.

Persistent Systems Ltd slipped 3.8% to Rs. 717. The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 808.07 million for the Quarter ended March 31, 2016 as compared to Rs. 760.50 mn for the Quarter ended March 31, 2015.

Cairn India Ltd dropped 3% to Rs.145. The company has slashed its capital expenditure for FY17 by one-third to US$100 million (Rs. 660 crore), reports a business daily. In an investor presentation post announcing FY16 earnings, Cairn India said that for FY17, a capex of US$100 million is planned.

Sasken Communication cracked 4.2% to Rs.346 on BSE. The company reported consolidated net profit of Rs. 174.63 crore for the quarter ended March 31, 2016, registering growth of 1451.71% qoq and 5866.18%. The company’s consolidated revenue stood at Rs. 119.82 crore, down 5.1% qoq but up 14.8%.

Bharti Airtel gained 1.6% to Rs.359 on BSE. The board of directors of the company will consider final dividend for the financial year ended March 31, 2016 or buy back of equity shares of the company or a combination thereof, in its meeting scheduled to be held on April 27.

Ultratech Cement closed marginally higher by 0.21% at Rs.3,277.60 on BSE. The company reported consolidated net profit of Rs. 722.56 crore for the quarter ended March 31, 2016, registering growth of 9.95% yoy and 32.36%.

USDINR trade today trading down 22 paise at 66.71

Out of 1,402 stocks traded on the NSE, 888 declined and 470 advanced today.

Top 5 Nifty Gainers: Tata Steel (1.84%) M&M (1.17%), BHEL (1.07%), NTPC (1.00%), and ONGC (0.73%).

Top 5 Nifty Losers: ICICI Bank (-1.94%), Adani Ports & Sez (-1.68%), Hero Moto Corp (-1.48%), Bajaj Auto (-0.75%) and Axis Bank (-0.72%).

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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%).

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The Indian markets witnessed a gradual downturn after a gap-up opening and finally closed more or less on a flat note. International Monetary Fund (IMF) lowered its global growth forecast to 3.4% in 2016. Nifty ended with nominal gains of 2 points to close at 7912.05 while Sensex ended with a gain of over 36 points at 25880.

As an article in Economic Times states, metal stocks such as JSPL, Hindalco, Tata Steel, Vedanta and JSW Steel rallied between 10-30% in the past one month. The gains here have outperformed the BSE Sensex, which rose by around 4% during the same period.

There are three main reasons behind this rally. One is the recent rally in the prices of base metals such as iron and copper. The rally in metal prices is witnessed on the back of a weak dollar overseas. The dollar has tanked nearly 5% in the last one month and this has aided the commodity prices.

Second are signs of improvement in China’s industrial sector, a major contributor to global metal demand. The improvement has added to the positive sentiments.

Third can be the steps taken by the government to limit cheap imports into India. Most of the surge in metal stocks was followed after the government imposed a provisional safeguard duty of 20% on import of certain categories of steel. Also, this measure was followed by the introduction of a fixed minimum import price on 173 steel products in February. Along with this the government extended the safeguard duty till March 2018.

We think that it would be too early to conclude that. This is because there are still many headwinds that remain ahead for the metal companies. One shall note that metal companies are sitting on huge debts. And this has hit their profitability levels. Apart from this, there is oversupply on a global level and the domestic steel industry is still recovering from aggressive dumping from China. So going by fundamentals, the indicators may suggest that the present rally is on shaky grounds.

PSU Bank sector remained a show stealer and gained a total of 86 points. Bank Nifty and Financial Service sectors gained more than 1 per cent each. Pharma remained marginally positive with 0.47 per cent upside. On the contrary, IT and Realty sector tumbled the most, losing 1.7 per cent each. FMCG recovered but still closed in red with 0.87 per cent loss. Media and Auto were flat to negative.

We think that it would be too early to conclude that. This is because there are still many headwinds that remain ahead for the metal companies. One shall note that metal companies are sitting on huge debts. And this has hit their profitability levels. Apart from this, there is oversupply on a global level and the domestic steel industry is still recovering from aggressive dumping from China.

So going by fundamentals, the indicators may suggest that the present rally is on shaky grounds.

USDINR trade today to close at 66.29

From the Nifty basket, 42 stocks advanced and 8 declined.

Top 5 Nifty Gainers: Tata Steel (1.58%) Bajaj Auto (2.00%), Adani Ports & Sez (1.06%), ONGC (0.85%), and Maruti Suzuki (1.17%).

Top 5 Nifty Losers: BHEL (-1.28%), Sun Pharma (-1.05%), Bharti Airtel (-0.83%), Asian Paints. (-1.04%) and HDFC (-0.79%).

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.