The Indian equity market jumped sharply on Monday(9 may 2016) as Nifty shot over 7850 mark. Overseas gains in the US and the Asian markets saw the Indian indices to open with a positive gap. From there on markets just keep on surging higher as the day progressed. The buying momentum was so strong, that all the sectoral indices ended in the green. The upswing was led by the banking, capital goods power, power and IT stocks. Even, the mid-cap and small cap stocks participated in the rally. Nifty closed with a a gain of 133 points at 7,866 while Sensex ended with a gain of 460 points at 25,689.
Cigarette stocks closed higher, Godfrey Phillips India surged 7% to Rs.866. ITC gained 2.4% to Rs.325.5.The Company said that cigarette packets produced by the firm will from now carry bigger pictorial health warnings covering 85% of surface area, up from 40%. The country’s biggest cigarette maker, which halted production twice to comply with the new norms, was quoted as saying that its factories have resumed production.
Hindustan Unilever reported 7% rise in net profit figures at Rs 1089.59 crore for the quarter under review against Rs 1018.08 crore YoY. Total income from operations (net) of HUL jumped 3.52% yoy at Rs 7945.66 crore. Commenting on HUL results, Amar Ambani, Head of Research, IIFL, said, “ PAT increased by 7% to Rs1,090cr, 1.6% lower than our estimate of Rs1,107cr. Net revenue grew 3.5%, lower than 4.4% against our estimate of Rs8,312cr. During the quarter, the company reported a 4% volume growth as against our expectation of 5%.”
Reliance Capital jumped 6.8% to Rs.409.60 on BSE. The company reported a marginal 1.9% increase in its consolidated net profit at Rs. 415 crore for the quarter ended March 2016.
At the closing bell, the BSE Sensex closed higher by 460 points, while the NSE Nifty finished higher by 132 points. S&P BSE Midcap and S&P BSE Small Cap also ended the day higher by 1.3% and 1.2% respectively.
Asian markets finished on a mixed note as of the most recent closing prices. Stock markets in China and Indonesia ended the day lower by 1.5% and 2.8% respectively. Whereas, stock markets in Singapore and Japan ended the day higher by 1.3% and 0.7%. Oil prices were trading at US$ 45.64 a barrel at the time of writing. The rupee was trading at 66.44 against the US$.
Sectoral indices finished the day on an encouraging note with stocks from banking and telecommunications sectors witnessing maximum buying interest.
As per an article in leading financial daily, Maruti Suzuki India reported sales of over one lakh vehicles with auto gear-shift (AGS) technology. This is a technology wherein the driver does not have to put his feet on the clutch pedal in order to shift the gear as an electrically operated system deploys the clutch automatically when the gear is changed.
Maruti introduced the AGS technology first in the hatchback model of Celerio. Reportedly, models with AGS technology now account for over 60% of the total sales of Celerio. Looking at this success, the company has loaded this technology in more models.
Currently, Alto K10, Wagon R, Swift Dzire are also equipped with the AGS technology. The company has sold 18,000 units of Alto K-10, 12,000 units of Wagon R, about 66,000 units of Celerio, 200 units of Dzire and has also exported around 3,100 units with AGS technology.
USDINR trade today trading up 10 paise at 66.44 per US dollar.
Out of 1,392 stocks traded on the NSE, 386 declined and 944 advanced today.
Top 5 Nifty Gainers: Dr Reddys Lab (1.83%), Hind. Unilever (1.55%), Tata Steel (1.44%), Axis Bank (0.68%), and Infosys Ltd (0.47%).
Top 5 Nifty Losers: Tata Motors (-2.39%), ICICI Bank (-1.11%), ONGC (-1.02%), Bajaj Auto (-0.98%), M&M (-0.96%)
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.