Feb 27

Daily Market Commentary : 27th Feb. 2017

Share markets in India finished the day marginally lower owing to weak global cues.

Equity benchmarks snapped six-day winning streak on Monday, with the Nifty closing below 8900 level on account of profit booking in banks, telecom and auto stocks. However, the consistent rally in index heavyweight Reliance Industries capped losses.

NSE Nifty closed at 8896.70 levels, down by 42.80 points or 0.48%, while BSE Sensex closed at 28812.88 levels, down by 80.09 points or 0.28%.

Asian equity markets finished lower today with shares in Japan leading the losses. The Nikkei 225 was down 0.91% while China’s Shanghai Composite is off 0.76% and Hong Kong’s Hang Seng is lower by 0.17%. European stock markets are higher today with shares in London leading the region. The FTSE 100 is up 0.22%, the CAC 40 is flat, and and Germany’s DAX is up 0.12%.

Axis Bank Limited closed at Rs 509 per share, down by Rs 18.65 per share or 3.53%. ICICI Bank and Axis Bank were the biggest contributors to the Sensex losses.

Reliance Industries Limited was the top Nifty gainer, whereas Idea Cellular Limited was the top Nifty loser in Thursday’s trading session.

Reliance Industries Limited extended its gains, touching fresh 52-week high of Rs 1256.80 per share, up by Rs 74.05 per share or 6.26%.

ONGC may acquire HPCL in Rs 44000 cr deal. HPCL’s current market capitalisation is Rs 57000 cr. ONGC may buy Govt’s entire 51.1% stake in HPCL.

BSE Mid-cap index closed at 13533.78 levels, up by 1.67 points or 0.01%; while BSE Small-cap index closed at 13609.88 levels, up by 22.10 points or 0.16%.

Lumax Industries Limited closed at Rs 1362 per share, up by Rs 139.15 per share or 11.38%.

Vijaya Bank closed at Rs 73.20 per share, up by Rs 7.25 per share or 10.99%.

Wockhardt Limited closed at Rs 756.80 per share, up by Rs 51.25 per share or 7.26%.

Jindal Steel & Power Limited closed at Rs 124.40 per share, up by Rs 7.65 per share or 6.55%.

There were 701 advances, 951 declines and 272 unchanged stocks on NSE, reflecting negative undertone floating in the market.

The rupee was trading at 66.70 per US dollar.

Top 5 Nifty Gainers: Reliance Industries Ltd. (4.63%), Aurobindo Pharma Ltd. (2.03%), Wipro (1.00%), Coal India (0.73%) and Lupin Ltd. (0.69%).

Top 5 Nifty Losers: Idea (-4.72%), Axis Bank (-3.61%), Power Grid Ltd. (-3.46%), Bharti Infratel Ltd. (-3.07%) and Zee Entertainment Ltd. (-2.67%)

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