After enjoying two consecutive days of gains, the Indian equity market took a breather amid a volatile day of trades. Sentiment was hit after the government announced that it would tax capital gains on foreign investments from Mauritius made from April 2017 at 50% of the domestic rate for two years, and at the full rate thereafter. Nifty closed with a a loss of 39 points at 7,848 while Sensex ended with a loss of 176 points at 25,597.

In the global markets, most of the Asian indices closed the day on a positive note. The Hong Kong’s Hang Seng ended higher by 0.43%, while Japan’s Nikkei 225 ended higher by 2.15%. The European indices also witnessed buying interest. The FTSE 100 was up 0.77%, France’s CAC 40 was up 1.09% and Germany’s DAX was up 1.13%. The rupee was trading at Rs 66.61 to the dollar at the time of writing.

Stocks in the steel sector ended the day on a mixed note with Adhunik Metaliks and Bhushan Steel leading the gains. As per a leading financial daily, Tata Steel has received seven expressions of interest (EoI) to acquire the firm’s loss-making UK business. According to the company, all of these seven EoI have been immediately taken forward to the next stage of the sales process, which involves inputs from the UK government.

Tata Steel UK’s assets include Port Talbot plant in south Wales, UK’s largest with around 4,000 workers, as well as sites at Newport, and Rotherham.

Shares of Yes Bank finished the trading day on an optimistic note (up 0.7%) after the bank announced its plan to raise around Rs 165 billion through issue of debt securities as well as equity capital. The bank is seeking shareholders’ approval for this fund raising, which will be completed in one or more tranches. The bank has scheduled a shareholders’ meeting on June 7, 2016, where it will ask shareholders to approve raising Rs 100 billion of debt by issuing securities to eligible investors on private placement basis. The proposed fund would be raised in one or more tranches in domestic and or overseas markets, as per the structure and within the limits permitted by the RBI and other regulatory authorities.

Furthermore, the bank has also proposed to raise additional capital aggregating up to US$ 1 billion (about Rs 65 billion) by way of placement of shares through Qualified Institutional Placement (QIP) and/or private placement in international markets through ADRs/ GDRs.

In another development,The Economic Times reported that the government will allocate fresh capital only to those PSU banks that have performed better than average and have improved their bad loan recovery effort. Finance ministry officials have begun one-to-one interactions with MDs and CFOs of government owned banks to understand their capital requirement for the full year 2016-17. Banks need to maintain a minimum capital to absorb losses on their loans. During the meeting, finance ministry officials have conveyed to the banks that they would receive the bare minimum capital that’s needed to meet the regulatory requirements and to stay afloat. From FY17, banks will have to maintain minimum capital adequacy ratio of 10.25%.

PSU banks languished in red today with PNB and Indian Bank bearing majority of the brunt.

Barring Escorts Ltd, majority of the stocks in the automobile space finished in red.Tata Motors DVR and Tata Motors lead the losses.

According to a leading financial daily, Maruti Suzuki India will be increasing the production capacity at its plants to meet the growing demand of the Vitara Brezza and the Baleno so as the reduce the waiting period for both the cars. Maruti has decided to increase the production of the Vitara Brezza from 80,000 units to over 120,000 units per annum. Production of the Baleno hatchback is being increased to about 165,000 units this year. With the new plant in Gujarat on its way, Maruti Suzuki is hoping that it will help the company to reduce the waiting period for both these cars.

Maruti reported a 13.3% rise in total sales in April at 126,569 units as against 111,748 units last year. The company’s domestic sales increased by 16.2% during the month to 117,045 units as against 100,709 units in April 2015. Maruti Suzuki finished the day up by 1.3% on the BSE.

USDINR trade today trading up 4 paise at 66.62 per US dollar.

Out of 1,811 stocks traded on the NSE, 896 declined and 631 advanced today.

Top 5 Nifty Gainers: ICICI Bank (2.74%), Asian Paints (1.82%), Adani Ports & Sez (1.66%), TCS (1.56%), and GAIL (1.40%).

Top 5 Nifty Losers: Hind. Unilever (-0.63%), Tata Steel (-0.03%).

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The Indian equity market gained ground on Tuesday after a weak start. The primary market continues to enjoy good momentum with smart listing for Thyrocare and a decent close by Ujjivan Financial Services. Benchmarks indices too extended winning streak to second consecutive trading session led by gains in the capital goods, banking, IT, realty and consumer durables. Even the mid cap and small cap stocks ended with marginal gains. On the other hand, metals, oil & gas, power and utilities stocks were under pressure. Nifty closed with a a gain of 22 points at 7,888while Sensex ended with a gain of 84 points at 25,773.

In the global markets, most of the Asian indices closed the day on a positive note. The Hong Kong’s Hang Seng ended higher by 0.43%, while Japan’s Nikkei 225 ended higher by 2.15%. The European indices also witnessed buying interest. The FTSE 100 was up 0.77%, France’s CAC 40 was up 1.09% and Germany’s DAX was up 1.13%. The rupee was trading at Rs 66.61 to the dollar at the time of writing.

Stocks in the steel sector ended the day on a mixed note with Adhunik Metaliks and Bhushan Steel leading the gains. As per a leading financial daily, Tata Steel has received seven expressions of interest (EoI) to acquire the firm’s loss-making UK business. According to the company, all of these seven EoI have been immediately taken forward to the next stage of the sales process, which involves inputs from the UK government.

Tata Steel UK’s assets include Port Talbot plant in south Wales, UK’s largest with around 4,000 workers, as well as sites at Newport, and Rotherham.

Last month Tata Steel sold its Long Products business in Europe to investment firm Greybull Capital. The sale was in exchange for Greybull Capital taking the whole of the business, including assets and relevant liabilities, and securing funding package of 400 million pounds.

It shall be noted that on 29 March, Tata Steel decided to sell its UK operations, called Tata Steel Europe Ltd. This came as the company failed to turn around the business it bought as part of the takeover of Corus at the height of the commodity boom in 2007 for US$12.1 billion. The business suffered almost a decade of losses amid poor demand and cheap Chinese imports.

Moving to the news from the FMCG space. ITCis gradually resuming production at its cigarette factories, which was suspended from May 4 over the large pictorial warning issue.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, the company has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Stock of the company closed down by 3.6%.

USDINR trade today trading down 4 paise at 66.62 per US dollar.

Out of 1,404 stocks traded on the NSE, 683 declined and 648 advanced today.

Top 5 Nifty Gainers: NTPC (1.85%), Axis Bank (1.51%), Tata Steel (0.69%), Asian Paints (0.51%), and Hero MotoCorp (0.42%).

Top 5 Nifty Losers: Bharti Airtel (-1.84%), Adani Ports & Sez (-1.64%), Coal India (-1.40%), BHEL (-1.24%), HDFC (-1.21%)

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The Indian equity market jumped sharply on Monday(9 may 2016) as Nifty shot over 7850 mark. Overseas gains in the US and the Asian markets saw the Indian indices to open with a positive gap. From there on markets just keep on surging higher as the day progressed. The buying momentum was so strong, that all the sectoral indices ended in the green. The upswing was led by the banking, capital goods power, power and IT stocks. Even, the mid-cap and small cap stocks participated in the rally. Nifty closed with a a gain of 133 points at 7,866 while Sensex ended with a gain of 460 points at 25,689.

Cigarette stocks closed higher, Godfrey Phillips India surged 7% to Rs.866. ITC gained 2.4% to Rs.325.5.The Company said that cigarette packets produced by the firm will from now carry bigger pictorial health warnings covering 85% of surface area, up from 40%. The country’s biggest cigarette maker, which halted production twice to comply with the new norms, was quoted as saying that its factories have resumed production.

Hindustan Unilever reported 7% rise in net profit figures at Rs 1089.59 crore for the quarter under review against Rs 1018.08 crore YoY. Total income from operations (net) of HUL jumped 3.52% yoy at Rs 7945.66 crore. Commenting on HUL results, Amar Ambani, Head of Research, IIFL, said, “ PAT increased by 7% to Rs1,090cr, 1.6% lower than our estimate of Rs1,107cr. Net revenue grew 3.5%, lower than 4.4% against our estimate of Rs8,312cr. During the quarter, the company reported a 4% volume growth as against our expectation of 5%.”

Reliance Capital jumped 6.8% to Rs.409.60 on BSE. The company reported a marginal 1.9% increase in its consolidated net profit at Rs. 415 crore for the quarter ended March 2016.

At the closing bell, the BSE Sensex closed higher by 460 points, while the NSE Nifty finished higher by 132 points. S&P BSE Midcap and S&P BSE Small Cap also ended the day higher by 1.3% and 1.2% respectively.

Asian markets finished on a mixed note as of the most recent closing prices. Stock markets in China and Indonesia ended the day lower by 1.5% and 2.8% respectively. Whereas, stock markets in Singapore and Japan ended the day higher by 1.3% and 0.7%. Oil prices were trading at US$ 45.64 a barrel at the time of writing. The rupee was trading at 66.44 against the US$.

Sectoral indices finished the day on an encouraging note with stocks from banking and telecommunications sectors witnessing maximum buying interest.

As per an article in leading financial daily, Maruti Suzuki India reported sales of over one lakh vehicles with auto gear-shift (AGS) technology. This is a technology wherein the driver does not have to put his feet on the clutch pedal in order to shift the gear as an electrically operated system deploys the clutch automatically when the gear is changed.

Maruti introduced the AGS technology first in the hatchback model of Celerio. Reportedly, models with AGS technology now account for over 60% of the total sales of Celerio. Looking at this success, the company has loaded this technology in more models.

Currently, Alto K10, Wagon R, Swift Dzire are also equipped with the AGS technology. The company has sold 18,000 units of Alto K-10, 12,000 units of Wagon R, about 66,000 units of Celerio, 200 units of Dzire and has also exported around 3,100 units with AGS technology.

USDINR trade today trading up 10 paise at 66.44 per US dollar.

Out of 1,392 stocks traded on the NSE, 386 declined and 944 advanced today.

Top 5 Nifty Gainers: Dr Reddys Lab (1.83%), Hind. Unilever (1.55%), Tata Steel (1.44%), Axis Bank (0.68%), and Infosys Ltd (0.47%).

Top 5 Nifty Losers: Tata Motors (-2.39%), ICICI Bank (-1.11%), ONGC (-1.02%), Bajaj Auto (-0.98%), M&M (-0.96%)

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.