Mar 09

Daily Market Commentary : 9th March. 2017

Share markets in India remained subdued in the afternoon session and finished flat as caution prevailed ahead of UP state elections. Equity benchmarks as well as broader markets closed rangebound session on a flat note Thursday as investors maintained cautious stance ahead of exit poll results for assembly elections later today and Federal Reserve policy meeting next week.

NSE Nifty closed at 8927 levels, up by 3 points or 0.01%, while BSE Sensex closed at 28929 levels, up by 27 points or 0.1%.

Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.34%, while the Hang Seng led the Shanghai Composite lower. They fell 1.18% and 0.74% respectively. European markets are lower today with shares in London off the most. The FTSE 100 is down 0.41% while Germany’s DAX is off 0.11% and France’s CAC 40 is lower by 0.06%.

Maruti Suzuki was the top Nifty gainer whereas, Dr Reddy’s Lab was the top Nifty loser in Friday’s trading session.

The BSE Mid-cap Index closed down 0.3% at 13384 whereas, BSE Small-cap Index closed down 0.1% at 13609.

India Home Loan was down by 5.5% on Thursday and closed at Rs 97.4 per share down by Rs 5.7 per share or 5.6%.

Aviation stocks were buzzing on bourses in morning session, Spice Jet was up by over 6% and closed at Rs 81.20 per share up by 3.80 or nearly 5%.

Ramky Infrastructure closed at Rs 82 per share, up by Rs 8 per share or 11%.

CTL closed at Rs 34 per share, up by Rs 2 per share or 7%.

Jubiland Industries closed at Rs 332 per share, up by Rs 25 per share or nearly 8%.

Kridhan Infra closed at Rs 54 per share, up by Rs 3 per share or 7%.

There were 631 advances, 973 declines and 231 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

The rupee was trading at 66.70 per US dollar.

Top 5 Nifty Gainers: maruti Suzuki (1.62%), SBI (1.20%), Axis Bank (1.18%), Ambuja Cement Ltd. (1.04%) and Tata Motors (1.04%).

Top 5 Nifty Losers: Dr. Reddy’s Laboratories Ltd. (-5.08%), GAIL (-2.45%), IDEA (-2.21%), Wipro (-2.16%) and Adani Ports and Sez Ltd. (-2.04%)

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