Its gets worst for the Indian equity market as indices extended losing streak to second consecutive trading session. Nifty ended below the 200-DMA however, just managed to close at the 7,750 mark. Nifty closed with a loss of 34 points at 7,750 while Sensex ended with a loss of 97 points at 25,301.

Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.1%, while the Hang Seng led the Shanghai Composite lower. They fell 0.67% and 0.02% respectively. European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.55%, while London’s FTSE 100 is off 1.38% and France’s CAC 40 is lower by 0.88%.

ITC gained 1.6% to Rs.329.95 on BSE. The company posted a net profit of Rs.24952 million for the quarter ended March 31, 2016 as compared to Rs.23611.80 million for the quarter ended March 31, 2015.

Lupin crashed 9.1% to Rs.1,505.15 on BSE. The stock was the top Nifty loser today. The pharma company posted a net profit after taxes and minority interest of Rs.8070.80 mn for the quarter ended March 31, 2016 whereas the same was at Rs.5470.10 mn for the quarter ended March 31, 2015.

Esab India jumped 3.6% to Rs.580 on BSE. The company reported a net profit of Rs.9.37 crore in the quarter ended March 2016 as against net loss of Rs.1.38 crore during the previous quarter ended March 2015.

SpiceJet cracked 10.4% at Rs.71.30. The company posted a quarterly profit of Rs.73.2 crore in the fourth quarter of 2015-16 on higher operational income. During the March quarter of 2015-16, the airline’s operational income rose to Rs.1,474 crore from Rs.790 crore in the same period a year ago.

GHCL rallied 7.3% to Rs.155.35 after the company reported its Q4 net profit stood at Rs.79 crore.The total income for the quarter was at Rs.650.4 crore.

Pidilite Industries climbed 6% to Rs.653. The company reported 48.97% increase in standalone net profit to Rs.115.04 crore for the March quarter.

Maruti Suzuki closed 0.51% to Rs.3,947. The company said that it will inspect suspected fault in 20,427 S-Cross vehicle, as per reports. The automobile firm will suspect fault and replace brake part in 20,427 units of S-Cross.

A total of 18 stocks registered a fresh 52-week high in trades today, whereas 39 stocks touched a new 52-week low on the NSE.

USDINR trade today trading down 7 paise at 66.43 per US dollar.

Out of 1,396 stocks traded on the NSE, 988 declined and 365 advanced today.

Top 5 Nifty Gainers: ITC Ltd (3.67%), Adani Ports & Sez (1.80%), Bharti Airtel (1.36%), Tata Motors (1.26%) and ICICI Bank (1.11%).

Top 5 Nifty Losers: CIPLA (-1.66%), Infosys Ltd (-1.21%), HDFC (-1.18%), Sun Pharma (-1.17%) and ONGC (-0.92%),

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Stock market in India extended losing streak to third consecutive trading session on 19th May 2016. After opening with a negative gap, indices kept losing ground gradually, the decline was led by capital goods, FMCG, energy, banking, metals and oil & gas stocks. Even the mid cap and small cap stocks were not spared. Selling aggravated as the day progressed, not a single sectoral index on the BSE ended in the green. Nifty closed with a loss of 87 points at 7,783 while Sensex ended with a loss of 305 points at 25,400.

Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.1%, while the Hang Seng led the Shanghai Composite lower. They fell 0.67% and 0.02% respectively. European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.55%, while London’s FTSE 100 is off 1.38% and France’s CAC 40 is lower by 0.88%.

Most of the power stocks finished weak with Adani Power and Torrent Power leading the losses. Shares of Torrent Power nosedived 12% after the company’s net profit for the quarter ended March 2016went down by over 95%.

According to a leading financial daily, Tata Power’s100% subsidiary – Tata Power Renewable Energy (TPREL) has won two solar grid connected photovoltaic projects of 50 MW capacity each in Pavagada Solar Park in the Tumkur district of Karnataka.

The projects have been awarded through open category under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase-II Batch-II Tranche-I under ‘State Specific Bundling Scheme’. TPREL has received the Letter Of Intent to develop the projects and will sign a 25 year Power Purchase Agreement with NTPC Vidyut Vyapar Nigam. Tata Power finished the day down by 2.1% on the BSE.

Meanwhile, shares of Power Grid Corporation of India finished the trading day on an optimistic note (up 0.6%) after it was reported that the company has operationalized its ultra-high voltage 1200 kV National Test Station (NTS) at Bina in Madhya Pradesh. This will help the company in increasing power carrying capacity. Reportedly, the 1,200 kV station has five to six times more power carrying capacity than the 400 kV stations for transmission of power.

The power sector is going through troubled times. The State Electricity Boards (SEBs) that buy power from generators are reeling under huge losses and bloated debt. The government program ‘Ujwal Discom Assurance Yojana’ (UDAY) for SEBs holds hope to revitalize the power sector (Subscription Required). This is because unlike the previous bail-out packages that were provided for debt restructuring, the UDAY offers a framework for the long-term revamp of SEB operations.

USDINR trade today trading down 36 paise at 66.33 per US dollar

Out of 1,811 stocks traded on the NSE, 1,073 declined and 465 advanced today.

Top 5 Nifty Gainers: Lupin Ltd (1.43%), Wipro (0.70%), Tata Motors (0.70%), Maruti Suzuki (0.32%) and TCS (0.20%).

Top 5 Nifty Losers: Adani Ports & Sez (-6.14%), SBI (-4.05%), L&T (-3.24%), HDFC (-2.61%) and GAIL (-2.50%),

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.

After two consecutive weeks of gains, the Indian equity market shut with modest losses on Wednesday amid a sharp late recovery. Weak global cues dragged the Indian indices to open with a negative gap down. However, the day progressed; benchmarks staged a smart recovery led by gains in the realty, metals and capital goods stocks. The auto, power, utilities and consumer durables stocks ended with losses. Nifty closed with a loss of 21 points at 7,870 while Sensex ended with a loss of 69 points at 25,705.

A bulk of this supply would go to the power sector where around 30,000 MW of plants do not have any coal supply agreement from Coal India. Coal India is looking to offer 8 mt of coal to power companies and 2 tonnes to other sectors every month.

At present, despite surplus coal, some 57,000 MW of thermal power units are fuel deprived since they do not have supply contract from Coal India. Reportedly, 9,000 MW of capacity is already achieved commercial operation with coal received on ad hoc sources and the rest (48,000 MW) of capacity is in various stages of construction. These plants would come up from this year onwards till 2020.

In another development, Coal India and NTPC have formally inked a joint venture agreement for the revival of now defunct gas-based Sindri and Gorakhpur plants of Fertilizer Corporation of India. The revival of these plants was estimated to cost about Rs 180 billion over the next four years. Gas for the plants will be supplied through the proposed Jagdishpur-Haldia pipeline. State utility GAIL has been reportedly asked to expedite the pipeline from Jagdishpur in Uttar Pradesh to Haldia in West Bengal. Having failed to revive the plants through auctions, the government asked NTPC and Coal India to take over the units. India’s urea production touched a record 24.5 million tonnes in 2015-16. While the country’s total demand is about 30 million tonnes, the rest is met through imports.

Coal India finished flat while NTPC closed on a negative note (down 0.6%) on the BSE.

Moving on to news from textile sector. According to The Economic Times, SRF is planning to invest Rs 35 billion over the next four years, 70% of which would go into its fast-growing chemicals business. SRF, which exports 90% of its chemicals and counts Syngenta, BASF, Bayer CropScience and other global biggies as its clients, has over the years steered its focus away from technical textiles to chemicals, where it has witnessed a rapid revenue growth and fat operating margins.

Reportedly, SRF will use internal resources to fund the planned investment as the company generates about Rs 10 billion of free cash flow every year. In four years, even as it completes its planned expansion, SRF’s net debt-equity ratio will improve to 0.3 from 0.74 now.

SRF’s shares have risen more than 25% in the past year as its focus on chemicals intensified. SRF is confident of capturing a larger share of the chemicals market because of its rising knowledge and technological capabilities(Subscription Required) in a world where increased demand for food and medicine require food and drugs companies to engage more with innovative chemicals suppliers.

SRF finished the day up by 0.2% on the BSE.

Top of Form

USDINR trade today trading down 10 paise at 66.97 per US dollar.

Out of 1,432 stocks traded on the NSE, 692 declined and 649 advanced today.

Top 5 Nifty Gainers: Lupin Ltd (2.06%), Tata Motors (1.35%), Tata Steel (1.02%), BHEL (0.92%) and Wipro (0.57%).

Top 5 Nifty Losers: HDFC (-1.62%), NTPC (-1.61%), ITC Ltd (-1.55%), Bharti Airtel (-1.18%) and Wipro (-0.97%),

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.