May 16

Daily Market Commentary : 13th May 2016

After shutting above the 7900 mark in the previous trading session, the Indian equity market closed with a sharp cut on Friday. Disappointing macro economic data dampened the mood on street. IIP rose by just 0.1% in March, down from a 1.9% increase in February. While, retail inflation surged to 5.39% in April from 4.83% in March on account of rise in food inflation. Nifty closed with a loss of 86 points at 7,815 while Sensex ended with a loss of 301 points at 25,490.

Eicher Motors tumbled 3.8% to Rs.18,996 on BSE today. Around 11.4 lakh shares were traded in a multiple block on NSE. According to media reports, promoters sold 4.2% stake at Rs.2,100 crore for personal use. Around 1.15 million shares representing 4.25% of total equity of Eicher Motors changed hands, NSE data showed.

Manappuram Finance hit 20% upper circuit to Rs. 50.25.The company posted a net profit of Rs. 1307.000 million for the Quarter ended March 31, 2016 as compared to Rs. 700.370 mn for the Quarter ended March 31, 2015.

Federal Bank soared 2.3% at Rs.50 on BSE today. Around 11.4 lakh shares were traded in a multiple block at Rs.49.80 on the NSE.

Polaris Consulting & Services dropped 5.3% to Rs.187.20 after the company posted a net profit of Rs. 51.035 mn for the Quarter ended March 31, 2016 as compared to Rs. 370.851 mn for the Quarter ended March 31, 2015.

Nestle India jumped 7.4% to Rs. 6,128. The company reported standalone net profit of Rs.259 crore for the quarter ended March 31, 2014, registering decline of 19.13% yoy, but growth of 41.38%.

Aditya Birla Fashion and retail climbed 4.5% to Rs.158.60 after the company said in a notice to BSE that it signed deal to bring Simon Carter to India.

Monsanto India gained 1.3% Rs. 2536. According to media reports, German agro-chemicals company Bayer AG and Switzerland-based BASF is in talks to initiate a $40 billion takeover of the company.

Crompton Greaves Consumer Electrical, the de-merged entity of Crompton Greaves, today got listed at Rs. 126.20 on BSE. The stock has hit upper circuit 5% at Rs.132.50 on the BSE.

Shares of fertilizers companies rallied by up to 9% on the BSE. GNFC, National Fertilizers and Deepak Fertilisers & Petrochemicals Corporation and Aries Agro hit their respective 52-week highs in intra-day trade.

Havells India rallied 5.2% on BSE to Rs. 360 after the company was included in the MSCI India index today. The inclusion will be effective from June 1. Apart from Havells, Bajaj Finance closed marginally lower on BSE. The company has also been included in the list. Besides, Yes Bank and Titan Company Ltd are also the new entrants to the MSCI India index, but they failed to cheer the investors as they fell into red.

USDINR trade today trading down down 15 paise at 66.77 per US dollar.

Out of 1,309 stocks traded on the NSE, 824 declined and 995 advanced today.

Top 5 Nifty Gainers: Dr Reddys Lab (3.02%), Asian Paints (1.19%), Lupin Ltd (0.97%), Tata Motors (0.88%) and TCS (0.46%)

Top 5 Nifty Losers: SBI (-2.43%), Bharti Airtel (-2.28%), GAIL (-1.86%), ONGC (-1.27%) and Hind. Unilever (-1.22%),

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