May 25

Daily Market Commentary : 25th may 2017

Nifty 50 forms Long White Day; be alert on midcaps
The Nifty 50 soared nearly 150 points on Thursday to close above the crucial level of 9,500. In the process, the index formed a ‘long bullish candle’ or ‘long white day’ kind of pattern on the daily candlestick charts.

Indian share markets continued to witness strong buying momentum in the afternoon trade tracking a firm trend in international markets. Fresh spell of buying by foreign investors and further recovery in the rupee.

At the closing bell, the BSE Sensex stood higher by 448 points, while the NSE Nifty finished up by 149 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap finished up by 1.4% and 2% respectively.

China stocks rose sharply, as market appeared to have shrugged off Moody’s downgrade of China’s credit rating. The rating cut was followed by criticism from senior government officials in Beijing. Other Asian markets also rose after Fed signaled that interest rates could be raised soon and oil prices rallied ahead of an OPEC meeting. The Shanghai Composite is up 1.43% while Japan’s Nikkei 225 is up 0.98% and Hong Kong’s Hang Seng is up 0.86%. European markets too are higher today. The CAC 40 is up 0.23% while the FTSE 100 and DAX are up 0.1%.

State oil companies have planned a capex of Rs 870 billion, or US$13 billion, in 2017-18 to develop oil and gas fields, expand refining capacity, and build pipelines.

Oil and Natural Gas Corp (ONGC) plans to invest Rs 300 billion, the maximum among all state oil firms. This is slightly higher than the company’s spending of about Rs 280 billion in 2016-17.

GAIL, HPCL, Mangalore Refinery and Numaligarh Refinery have also planned to spend more this year than they did last year, but others will spend less, making the total capex nearly a fifth less than the last fiscal year’s Rs 1.06 trillion.

Also, Indian Oil Corporation (IOC) is reportedly planning to invest around Rs 200 billion in 2017-18 to augment their marketing and distribution infrastructure, including storage, pipeline and retail outlets. This is lower than the company’s spending of about Rs 220 billion in 2016-17.

The rupee was trading at 64.50 per US dollar.

Top 5 Nifty Gainers: L&T(4.69%), HDFC BANK(3.10%), ICICI BANK(3.06%), INFOSYS LTD (2.84%) and TCS (2.59%).

Top 5 Nifty Losers:  LUPIN LTD (-7.49 %), DR. REDDYS LAB (-3.63%), CIPLA (-3.33%),  SUN PHARMA (-1.51%), and BHARTI AIRTEL(-0.39%).

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May 15

Daily Market Commentary : 15th may 2017

Indian Indices Nifty and Sensex making new highes consecutive week.
Indian share markets continued to trade in green in afternoon session after consumer inflation in April eased to its lowest in at least five years. At the closing bell, the BSE Sensex stood higher by 134 points, while the NSE Nifty finished up by 45 points.

Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap finished up by 1.3% and 0.8% respectively. Gains were largely seen in metal stocks, pharma stocks and realty stocks.

The markets are touching new highs. Markets are awash with funds. Experts are justifying high valuations. The reasons are far-fetched – from GST to Make in India to a cashless economy. And retail investors seem to be falling for it.

The BSE Mid-cap index closed at 15040 level up by 186 points while the BSE Small-cap index closed at 15650 levels up by 121 points.

Bank Nifty gained 150 points in trade mainly led by Kotak Mahindra Bank and ICICI Bank.

Tata Steel Limited was the top Nifty gainer closed higher by 4.5% at Rs 456.45 per share whereas Aurobindo Pharma stock closed lower by around 1.6% at Rs 613.6 per share.

The rupee was trading at 64.06 per US dollar.

Piramal Enterprises Ltd. closed higher by 9.98% at Rs 2870 per share.

GMR Infrastructure Ltd. closed higher by 6.02% at Rs 17.6 per share.

Alankit Ltd. closed higher by 18.31% at Rs 25.2 per share.

Kansai Nerolac Paints Limited closed higher by 4.97% at Rs 430.6 per share.

Top 5 Nifty Gainers: TATASTEEL. (4.52%), HINDALCO (4.00%), DRREDDY(3.36%), BOSCHLTD (2.76%) and LUPIN (2.48%).

Top 5 Nifty Losers:  AUROPHARMA (-1.62 %), INFY (-1.14%), INFRATEL (-0.90%),  EICHERMOT (-0.90%), and HEROMOTOCO(-0.66%).

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