Aug 31

Daily Market Commentary : 30th August 2016

The Sensex provisionally settled above the psychological 28,000 mark after reclaiming that level in the opening trade. The Sensex hit its highest level in more than thirteen months in late trade. The Nifty hit its highest level in more than sixteen months in late trade. Nifty closed with a  gain of 137 points at 8,744, while BSE Sensex ended with a gain of 440 points at 28,343.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher. Nikkei 225 closed in red.

In Europe, the FTSE 100 was trading up 0.31%. DAX and the CAC 40 were trading lower by 1% each.

Bharti Airtel dropped 3% after announcing up to 80% reduction in its 3G and 4G mobile data packs.

Maruti Suzuki India ended higher by 2.8% at Rs.5069 on the BSE. Maruti Suzuki India Limited, India’s leading passenger vehicle manufacturer, today launched the sporty, Swift Deca, a limited edition model of its most popular hatchback. A wide array of features including touch screen multimedia system with Bluetooth, exterior styling kit, sporty body graphics, football themed seat covers and interior styling kit make the Swift Deca even more attractive.

Ramky Infrastructure soared 4.5% to Rs.78.20 after winning NHAI contracts worth Rs.1,646 crore for developing two highway projects in Jharkhand.

Mandhana Industries shares locked up in upper circuit for seventh straight day, after rising by their maximum daily limit of 5%. Strong buying has been witnessed in Mandhana Industries since the textile company last week disclosed that it has finalised an agreement with actor Salman Khan’s ‘Being Human’ Foundation to sell products under the ‘Being Human’ brand.

eClerx Services erased all its early gains and closed lower on Tuesday as weak Q1 earnings and softer revenue and margin guidance weighed on its shares. eClerx shares had jumped as much as 10 per cent in the morning trade on share buyback approval.

Gujarat Mineral Development Corporation Ltd climbed 8.3% to Rs.98.15. The company reported a 56% growth in profit for the first quarter of financial year 2016-17.

The rupee was trading up 11 paise at 67.06 per US dollar.

Out of 1,534 stocks traded on the NSE, 520 declined and 925 advanced today.

Top 5 Nifty Gainers: Tata Motors (2.31%), Hero Motocorp (1.83%), Asian Paints (1.09%), CIPLA (0.86%) and ICICI Bank (0.62%).

Top 5 Nifty Losers: NTPC (-1.08%), TCS (-0.76%), ONGC (-0.66%), BHEL (-0.60%) and Infosys Ltd. (-0.49%)

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Aug 31

Daily Market Commentary : 29th August 2016

The key benchmark indices snapped a two-day losing streak on Monday. After opening on a flat note indices remained under pressure and slipped lower in the first half. However, as the day progressed, late bout of buying in the auto, capital goods, energy, metal, oil& gas, banking and finance stocks lifted the benchmarks. On the other hand, IT, realty, FMCG, teck and pharma stocks were under pressure. Nifty closed with a gain of 35 points at 8,607, while BSE Sensex ended with a gain of 120 points at 27,902.

On the global front, Asian stocks closed on mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 2.3%.

In Europe, the FTSE 100 was trading up 0.31%. DAX and the CAC 40 were trading lower by 1% each.

Tata Motors soared 4.2% to Rs.525 on BSE. The company posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015. Higher volumes in both standalone as well as Jaguar Land Rover (JLR) business was more than offset by the adverse foreign currency impact of Rs 2296 crore and adverse commodity derivatives impact of Rs 167 crore in the operating profit mainly in the Jaguar Land Rover business.

Indian Oil Corporation ended marginally down at Rs.572. The company posted a net profit of Rs.8269 crore for the quarter ended June 30, 2016 as compared to Rs.6590.8 crore for the quarter ended June 30, 2015.

Procter & Gamble Hygiene and Health Care slipped 1%. The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.

Adani Enterprises closed higher by 1% at Rs.72.85 on the BSE after a federal court in Australia rejected challenge to its Carmichael mine.

Shree Renuka Sugars rallied 5.6% after creditors approved the reorganisation proposal put forward by its bankrupt Brazilian subsidiary, Renuka do Brasil S/A (RdB).

Pratibha Industries tumbled 4.8% to Rs.21.45 on the BSE. The company reported a consolidated net loss of Rs.30.15 crore for the quarter ended June 30 as compared to net profit of Rs.16.45 crore in the similar quarter of 2015-16.

Claris Lifesciences dropped 6.2%. The company received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.

GMR Infrastructure inched up 1.6% to Rs.13.30. GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa.

Alankit gained 2.6% to Rs.143.50 on BSE. Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.

The rupee was trading down 11 paise at 67.16 per US dollar.

Out of 1,420 stocks traded on the NSE, 840 declined and 618 advanced today.

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Aug 29

Daily Market Commentary : 26th August 2016

The Indian equity market closed lower on the first day of the September contracts ahead of US Fed Reserve Chair’s speech. Indices ended on a negative zone for the second straight day as heavy selling pressure seen in realty, capital goods, IT, banking and industrial stocks. On the other hand, consumer durables, oil & gas and energy stocks were among the gainer on the BSE index. Nifty closed with a loss of 20 points at 8,573, while BSE Sensex ended with a loss of 54 points at 27,782.

On the global front, Asian stocks were mixed on Friday. Chinese shares ended flat. The Shanghai Composite index closed up 0.07%, while Hong Kong’s Hang Seng index was up 0.41%. Nikkei 225 ended 1.2% lower hitting three-week lows.

European equities were trading lower. The FTSE 100 was trading marginally up. The CAC 40 and DAX was trading in red.

Tata Motors gained 2% to Rs.504. The company reported a 57% YoY plunge in consolidated PAT to Rs.2,236 crore for the June quarter compared with Rs.5,231 crore in corresponding quarter last year.

Welspun India erased early morning gains and closed lower by 8.6%. The stock slipped for the fifth straight session after Target Corp’s decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated.

Tata Communications climbed 4.5% to Rs.524 on the BSE. The company is planning to set up necessary storage infrastructure in countries of operations to win over the local business by addressing its concerns on overseas data storage.

Trident jumped 12.4% after the media reports said that Target is considering shifting its bedsheets orders to Trident. The stock is at the highest level in two-months.

ICRA soared 4.4% to Rs.3751 after the Reserve Bank of India announced a slew of measures to improve the corporate bond markets.

Gammon Infra dropped 4% to Rs.5.12 on BSE. The company reported Rs.5.9 crore for the quarter ended June 30 compared with Rs.6 crore reported in the year-ago period.

J Kumar Infraprojects hit 5% upper circuit at Rs.162. The company said Mumbai Metro Rail Corporation Ltd (MMRC) has issued LOA (letter of award) to J Kumar-CRTG’s joint venture for Rs.5,012 crore projects.

Biocon soared 3% to Rs.892. The European Medicines Agency (EMA) has accepted for review Biocon and Mylan’s Marketing Authorization Application (MAA) for a proposed biosimilar Trastuzumab, used to treat certain breast and gastric cancers.

Spice Mobility climbed 4.4%. The telecom company informed BSE that Spice Digital Limited (SDL), a subsidiary of the Company, has divested its entire equity stake constituting 26% of share capital in Vavia Technologies Private Limited (Vavia) pursuant to a Share Purchase Agreement entered into by them. Consequent to this, Vavia has ceased to be an associate of the Company.

USDINR trading marginally up one paise at 67.03 per US dollar.

Out of 1,491 stocks traded on the NSE, 929 declined and 500 advanced today.

Top 5 Nifty Gainers: Tata Motors (4.42%), Hero Motocorp (1.54%), Reliance Ind. (1.11%), Tata Steel (1.01%) and Bharti Airtel (0.77%).

Top 5 Nifty Losers: TCS (-1.93%), Wipro (-1.58%), Lupin Ltd. (-1.16%), HDFC Bank (-1.16%) and Asian Paints (-1.10%)

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