Category Archives: Commodity

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Jan 21

Daily Market Commentary – 21 Jan 2015

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Indian equity market continued its northward momentum for the 6th consecutive day after the surprise rate cut by RBI, meanwhile market moved in small range but remained positive throughout the day. Broad based index Sensex ended the day at 28,888.86 surged by 104.19 points or 0.36% and Nifty wrapped up the today’s trading session at 8,729.50 up by 33.90 points or 0.39%.

ITC fell after the FMCG major’s cigarette volume growth failed to meet Street estimates.ITC, India’s biggest cigarette maker, reported over 10 per cent year-on-year(y-o-y) jump in its net profit to Rs 2,635 crore for the quarter ending December 31, 2014. Revenues for the quarter stood at Rs 8,800 crore against Rs 9,675 crore estimated by analysts poll. Cigarette sales, which contributes nearly 50 per cent to the overall revenues remained flat at Rs 4,142 crore.

The rupee strengthened by 6.5 paise to 61.6250 against the US dollar in trade today, extending its rising streak for the fifth straight day at the foreign exchange on selling of the US currency by exporters and banks.

Among the Sectorial indices on NSE, CNX PSU BANK led the gainers list by surging 2.45%. CNX IT (1.01%) and CNX FINANCE (0.69%) are other top gainer. While CNX FMCG (-1.98%) was the biggest loser followed by CNX MEDIA (-1.29%) and CNX METAL (-0.66%).

The market breadth on the NSE was negative as 750 stocks were declining as against 483 stocks advancing and 49 remain unchanged.

Out of 50 stocks of Nifty 29 were advanced while 21 declined.

Top 5 Nifty Gainers: HUL (5.35%), BOB (3.77%), BHARTI AIRTEL (3.76%), PNB (3.35%) and HDFC (3.08%)

Top 5 Nifty Losers: ITC (-5.21%), CIPLA (-2.93%), ZEEL (-2.30%), SESA STERLITE (-2.25%) and NMDC (-1.92%)

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Jan 15

Daily Market Commentary – 15 Jan 2015

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Indian equity market rebound on the back of surprise move of RBI on rate cut. 50 shares index surged 216 points to end the day inch closer to 8500 at 8494.15 up by 2.62% while Sensex soars more than 725 points to reclaim its crucial psychological level of 28000, and wrapped the session at 28,075.55 up by 2.66%.

The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on early morning, making its first reduction since May 2013, as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit.

The rupee also jumped by over 22 paise or nearly 0.35 per cent to trade at 61.98 against the dollar today.

Reacting to the news, shares in rate sensitive sectors such as banks, realty, capital goods surged in trade after the RBI action. CNX REALTY top was the top gainer among the sectorial indices,surging 8.32% followed by CNX FINANCE (4.52%), CNX PSU BANK (4.48%) and BANK NIFTY (3.40%). All other sectorial indices ended the day in positive zone.

Meanwhile USDINR Pair gained after 5 days downward momentum and ended the day at 62.18 surged by 1.15% or 0.035 paisa.

Market Breath remained positive for the day with 785 shares ended in green, 423 in red and 33 remain unchanged.

Out of 50 stocks of Nifty 44 stocks advanced, 5 declined and 1 remained same as previous close.

Top 5 Nifty Gainers: DLF (9.19%), HDFC (6.58%), IDFC (6.10%), ULTRA CEMENT (5.95%) and POWERGRID (4.92%) led the gainers list.

Top 5 Nifty Losers: BHEL (-0.78%), TECH MAHINDRA (-0.61%), ASIAN PAINTS (-0.55%), HINDALCO (-0.46%), and HUL (-0.11%)

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Jan 14

Daily Market Commentary – 14 Jan 2015

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Witnessing the wide movement Indian equity market ended the day in negative territory led by declines in ITC on worries the government may ban sale of loose cigarettes, while metal stocks slumped, tracking falls in commodities on global growth concerns. The broad-based index Nifty slumped by 21.85 points and closed at 8,277.55 down 0.26%, while Sensex, loosing 78 points wrapped up the session at 27,346.82 mark down 0.29%.

Jet Airways shares tanked after the carrier said its promoter chairman Naresh Goyal has pledged his entire (51 per cent) shareholding, valued at over Rs 2,600 crore.with state-run Punjab National Bank.

The government reported Wholesale Price Index (WPI) inflation data for the month of December which rose marginally to 0.11% versus 0% in November.

Infosys CEO Vishal Sikka met Prime Minister Narendra Modi and disclosed that his company will spend $250 million (over Rs 1,500 crore) to fund innovations in software and services in India.

Among the sectoral indices CNX Metal was the worst performer plunging -3.49% while CNX IT surged almost 1% after the PM MOdi and Infy chief Vishal Sikka Meeting.

Meanwhile USDINR Pair gained after 5 days downward momentum and ended the day at 62.18 surged by 1.15% or 0.035 paisa.

Market Breath remained negative for the day with 730 shares ended in red, 441 in green and 12 remain unchanged.

Out of 50 stocks of Nifty 20 stocks advanced, 29 declined and 1 remained same as previous close.

Top 5 Nifty Gainers: BHEL (5.17%), HUL (5.16%), ULTRA CEMENT (3.21%), ACC (2.93%) and INFOSYS (1.92%)

Top 5 Nifty Losers: SESA STERLITE (-8.63%), HINDALCO (-6.36%), TATA STEEL (-3.97%), ITC (-3.24%), and BPCL (-2.53%)

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