May 05

Daily Market Commentary : 4th May 2016

The Indian equity market yet again closed in the negative terrain extending its losing streak to the third consecutive trading session. Nifty closed near day’s low amid an absolute monotonous session as Nifty was stuck in a mere 50 point range. After a decline in the manufacturing PMI, sentiment was hit again today as services PMI fell to 53.7 in April 2016 from 54.3 in March 2016. Nifty closed with a a loss of 40 points at 7,706.55 while Sensex ended with a loss of 128 points at 25,102.

Adani Ports and SEZ tumbled 11.9% to Rs. 207.65. The company posted a net profit of Rs. 9140.60 mn for the quarter ended March 31, 2016 compared with Rs.6607.30 mn for the quarter ended March 31, 2015.

Tata Steel slipped 5.6% to Rs. 329 on BSE. The UK-based commodity trading firm Liberty House Group formally submitted the first bid for some of Tata Steel Ltd’s UK assets.

Sun Pharmaceutical gained 0.6% to Rs. 802.75 on BSE. The company singed a global deal with ICGEB for treatment of Dengue. Under the deal, Sun Pharma is expected to produce novel Dengue drug for 17 countries.

MEP Infrastructure gained 1% to Rs. 42. The Company received the Letter of Acceptance (LOA) dated May 03, 2016 from National Highways Authority of India (NHAI) informing that MEP has been engaged as the Contractor for the Project of “Collection of user fee through Fee Collection Agency on the basis of competitive Bidding for Paduna Toll Plaza at Km. 311.100 for the section Km. 278.000 to Km. 348.000 [Udaipur- Kherwada] of NH No. 8 in the State of Rajasthan”.

Tata Motors dropped 6.7% to Rs. 381 after its wholly-owned subsidiary Jaguar Land Rover (JLR) reported 2 per cent fall in US sales in April 2015

BASF India jumped 4% to Rs. 961.25. The company’s standalone revenue stood at Rs.1,152.12 crore, up 7.44% yoy and 1.8%.

A total of 14 stocks registered a fresh 52-week high in trades today, whereas 22 stocks touched a new 52-week low on the NSE.

USDINR trade today trading down 22 paise at 66.63 per US dollar.

Out of 1,453 stocks traded on the NSE, 1,096 declined and 306 advanced today.

Top 5 Nifty Gainers: Tata Motors (2.93%) HDFC (2.46%), Lupin Ltd (1.70%),Sun Pharma (1.64%), and Hero Motocorp (1.49%).

Top 5 Nifty Losers: Adani Ports & Sez (-.3.13%), Infosys Ltd (-0.42%), TCS (-0.41%), M&M (-0.34), Wipro(-0.08%)

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