Category Archives: Currencies

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Oct 26

Daily Market Commentary : 25th Oct. 2016

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The domestic equity markets started Tuesday’s trading session with a marginal decline led by profit booking, coupled with negative global cues as oil prices dipped and Chicago Fed President Charles Evans said that the Fed could raise short-term interest rates by three quarter-point moves by the end of 2017.

Tata Group stocks closed in a negative zone after Ratan Tata took back control of the Tata Group after Cyrus Mistry was abruptly removed as Chairman of the $100 billion coffee-to-steel business empire. Tata Steel fell 2.5%, TCS slipped 1.2% while Tata Metaliks tumbled 4.9%.

Nifty closed with a loss of 18 points at 8,691, while BSE Sensex ended with a loss of 88 points at 28,091.

On the global front, Asian stocks edged lower on Tuesday. Japan’s Nikkei closed gains at 0.75%. China’s Shanghai Composite and Hong Kong’s Hang Seng ended marginally lower.

European stocks were trading in green on Tuesday, ahead of economic data this week that is likely to influence policy of the world’s main central banks. The FTSE 100 is marginally up 0.43%. The CAC 40 and DAX gained 0.3% each.

Adani Ports & Special Economic Zone soared 9.4% on the BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 1091 crore for the quarter ended September 30, 2016 as compared to Rs 677.6 crore for the quarter ended September 30, 2015.

IDBI Bank tumbled 3% after the bank posted a net profit of Rs 55.5 crore for the quarter ended September 30, 2016 as compared to Rs 119.5 crore for the quarter ended September 30, 2015.

HDFC Bank closed 1% lower at Rs 1250 on the BSE. The bank posted a net profit of Rs 3455 crore for the quarter ended September 30, 2016 as compared to Rs 2869 crore for the quarter ended September 30, 2015.

Adani Enterprises dropped 5% after the company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 63 crore for the quarter ended September 30, 2016 as compared to Rs 298.7 crore for the quarter ended September 30, 2015.

Arvind jumped 12% to Rs 404 on the BSE. The company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 72 crore for the quarter ended September 30, 2016 as compared to Rs 70.7 crore for the quarter ended September 30, 2015.

Federal Bank climbed 8.3% after the bank posted a net profit of Rs 201 crore for the quarter ended September 30, 2016 as compared to Rs 161.3 crore for the quarter ended September 30, 2015.

Bharti Infratel zoomed 2.4% after the company posted 31% increase in consolidated net profit at Rs 777 crore for the September quarter of the current financial year.

Idea Cellular dipped 2% after the company posted an 88% plunge in its consolidated net profit at Rs 91.46 crore in the September quarter due to higher expenses.

The rupee was trading up by one paise at 66.84 per US dollar.

Out of 1,543 stocks traded on the NSE, 884 declined and 593 advanced today.

Top 5 Nifty Gainers: Bharti Airtel (2.44%), Hero Motocorp (2.42%), Bajaj Auto (1.43%), Maruti Suzuki (1.35%) and M&M (1.19%)

Top 5 Nifty Losers: Axis Bank (-8.00%), ICICI Bank (-2.75%), Tata Motors (-2.31%), ITC Ltd. (-1.68%) and Asian Paints (-1.32%)

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Oct 25

Daily Market Commentary : 24th Oct. 2016

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The Indian equity market spent the entire day in a narrow range after the recent slide and ended higher on Monday. The first half was comparatively better; thanks to buying in select index majors, but profit taking in last two hours completely reversed the intra-day gains and pushed index to neutral line. Amidst all, stock specific move continued as usual where banking, financial and energy counters attracted maximum attention from the traders. Nifty closed with a gain of 16 points at 8,709, while BSE Sensex ended with a gain of 102 points at 28,179.

On the global front, Asian stocks closed on a higher note. China’s Shanghai Composite closed 1.21% higher. Latest data showed that the Nikkei Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 51.7 in October from September’s 50.4, improving at the sharpest rate in nine months. Japan’s Nikkei and Hong Kong’s Hang Seng ended in green.

European stocks were mixed ahead of monetary policy decision from the Bank of England. The FTSE 100 and DAX were up by 1% each, while CAC 40 is trading marginally higher.

Mindtree tanked 4.8%. The consolidated net profit declined by 23.2% QoQ to Rs. 94.8 cr against Rs. 123.5 cr of last quarter. The consolidated net revenue for the quarter declined by 2.4% QoQ to Rs 1295 cr as the company faced headwinds in all of its business verticals.

Inox Wind gained 1%. ReNew Power Ventures has issued a repeat order to Inox Wind for a 50 MW wind power project to be executed in the State of Gujarat in India. ReNew Power is India’s leading Independent Power Producer of clean energy with more than 3,000 MW of commissioned and under construction assets.

Wipro tanked 3%. The company posted 8.2% year-on-year drop in net profit at Rs 2,070 crore for the second quarter of this financial ended September 30, 2016.

Axis Bank slipped 1% to Rs 521.30. The bank will announce its Q2 numbers today.

Punj Lloyd zoomed 1.3%. Punj Lloyd’s wholly owned subsidiary – Punj Lloyd Infrastructure (PLIL) has executed definitive agreements with India Infrastructure Fund II (a SEBI registered Category I Alternative Investment Fund represented by its investment manager IDFC Alternatives Limited) to divest three operating solar projects aggregating to 45 MW located in Punjab and Rajasthan subject to customary approvals and other conditions precedent.

Mandhana Industries spurted 1.5% after the company has received in-principle approval from Bank of Baroda (Lead bank) for supplication for Strategic Debt Restructuring (SDR) of the company and it is awaiting the advice and approval of the members banks (Term loan and working capital lenders).

GMR Infrastructure gained 2.2% to Rs 13.36. GMR Infrastructure’s airport arm has raised $522.60 million by selling bonds to international investors, as per media reports.

The rupee was trading higher by 4 paise at 66.84 per US dollar.

Out of 1,557 stocks traded on the NSE, 639 declined and 855 advanced today.

Top 5 Nifty Gainers: Sun Pharma (1.01%), Maruti Suzuki (0.72%), Cipla (0.69%), Axis Bank (0.67%) and Hero Motocorp (0.49%)

Top 5 Nifty Losers: Tata Steel (-2.73%), Hind. Unilever (-1.61%), GAIL (-1.49%), TCS (-1.12%) and HDFC Bank (-1.06%)

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Oct 24

Daily Market Commentary : 21st Oct. 2016

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The Indian equity market ended in the red on Friday tracking declines in Asian stocks as a stronger dollar weighed on crude oil prices, hurting investor risk appetite. Today’s major decline was led by consumer durables followed by metal, energy, and finance stocks, while realty, IT, telecom, capital goods and banking were among the gainers. In first half, bias was slightly on the negative side but swift recovery in last one hour of trade completely trimmed the intra-day losses. Nifty closed with a mere six points loss at 8,693, while BSE Sensex ended with a loss of 53 points at 28,077.

On the global front, Japan’s Nikkei slipped 0.30%. Hong Kong’s Hang Seng and the Shanghai Composite closed in the green.

European stocks saw a mixed trade after the European Central Bank kept its policy rate unchanged after a monetary policy meeting. The FTSE 100 was trading up, DAX and the CAC 40 were trading lower around 0.5% each.

HCL Tech climbed 2% after the company posted a net profit after taxes, minority interest and share of profit/(loss) of associates of Rs 2015.6 crore for the quarter ended September 30, 2016 as compared to Rs 1739.8 crore for the quarter ended September 30, 2015.

Reliance Industries slipped 2.2%. The consolidated net profit grew by 43% yoy to Rs 9,902 cr compared to Rs 6926 cr in the previous year. Petrochemicals EBIT grew by 35.5% to Rs 3417 cr yoy.

Cipla slipped 2% after the pharma company informed BSE that the Supreme Court decided in favour of Union of India in an appeal filed against Cipla and others arising out of the judgement of the Honorable Allahabad High Court. The other petitions filed in the Bombay High Court on completely separate set of grounds related to alleged overcharged amounts are pending and are still subject to the interim stay granted by the Honorable Supreme Court in July 2016.

Wipro gained 1%. Wipro has signed a definitive agreement to acquire Appirio that creates next generation worker and customer experiences for a purchase consideration of USD 500 million. The company will announce its Q2 FY17 numbers today.

NBCC tumbled 4%. NBCC’s share sale today garnered 1.54 times subscription from institutional buyers, who put in bids totalling more than Rs 2,700 crore.

Biocon zoomed 2.6%. The company posted 52% rise in net profit over the last year for the second quarter ended September 30, led by growth in its small molecules, biologics and research services.

Gulf Oil Lubricants gained 1.6%. The consolidated net profit grew by 25% yoy to Rs 30 cr against Rs 24 cr in the last quarter.

Praj Industries dropped 5.6%. The company reported that its revenue was 6.3% lower than the street estimate of Rs 219.6 cr. Moreover, net profit was 66.6% lower than the estimated figure of Rs 9.1 cr.

Sadbhav Infra slipped 1.9%.The company signed an EPC agreement worth Rs 283 crore for mainteance and repair works during the development period and construction for four projects with four subsidaries.

Kajaria Ceramics slumped 6.7%. The company posted net profit after taxes, minority interest and share of profit of associates of Rs 64 crore for the quarter ended September 30, 2016 as compared to Rs 59 crore for the quarter ended September 30, 2015.

GHCL slipped 5.3% after the company reported a 79% growth in net profit for the second quarter of the financial year. Net profit came in at Rs 90.3 crore against Rs 50.4 crore in the previous year. The company’s EBITDA margins saw a growth of 25.4 percent from 21.2 percent in the year ago period.

Jyoti Structures jumped 8.5% after the company received an order from Transco CLSG for 225 kV Line worth $40.82 million.

Kalyani Steel tanked 6.1% to Rs 322 after the company reported a rise in net profit at Rs 37.6 crore against Rs 29.4 crore in the year ago period, its income from operations remained flat at Rs 330 crore.

Unichem Labs dropped 6% after the company’s net profit fell 11% to Rs 20.5 crore as compared to Rs 23.1 crore in the same quarter last year. The company’s EBITDA margins dropped from 11% to 10.8 percent.

The rupee was trading down five paise at 66.85 per US dollar.

Out of 1,505 stocks traded on the NSE, 716 declined and 740 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (2.48%), ICICI Bank (2.45%), SBI (1.80%), Tata Motors (1.36%) and Maruti Suzuki (1.35%)

Top 5 Nifty Losers: Wipro (-3.75%), Asian Paints (-1.76%), Bharti Airtel (-1.13%), TCS (-0.91%) and Axis Bank (-0.87%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.