Category Archives: Market Summary

Mar 03

Daily Market Commentary – 3 March 2015

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Indian equity market rallied for the the fourth consecutive day on Budget optimism. Nifty hits the all time high by breaching the psychological level of 9,000 to 9,006. BSE’s 30 Shares Index Sensex ends the day at 29,593.73 surged by 134.59 points while Nifty ends at 8,996.25  up by 39.50 points.The Nifty has now gained around 300 points or over 3 per cent since Friday. The Sensex is up over 800 points in the last four sessions.

Today’s rally, however, was driven by Reliance Industries, one of the most influential stocks in the Nifty. RIL shares gained nearly 4.4 per cent after CLSA said the conglomerate could report a record profit for the fourth quarter.

Indian Rupee ends the day at 61.9150 down by 5 paisa against US Dollar.

Among the sectorial indices of NSE CNX Energy (1.72%), CNX IT (1.55%) and CNX PSU Bank (1.41%) were the top gainers while CNX Realty (-1.53%), CNX Auto (-1.02%) and CNX Metal (-0.61%) were the top losers.

Out of the 50 stocks of Nifty 29 stocks ended in positive terrain and 21 in negative terrain.

Top 5 Nifty Gainers: TCS (4.33%), Reliance (4.15%), BOB (3.34%), Jindal Steel (2.81%) and PNB  (2.65%)

Top 5 Nifty Losers: M&M (-3.74%), Axis Bank (-2.31%), Tata Motors (-2.05%), DLF (-1.97%) and Ambuja Cement (-1.91%)

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Mar 02

Daily Market Commentary – 2 March 2015

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Indian stock market pared all its early trading gains in the  afternoon trading session but recoup some of the gain in the last hour trading session. Front line indes Nifty ended above 8,950 by surging 54.60 points to end the day at 8,956.75 while BSE’s 30 stock index Sensex ended at 29,459.14, up by 97.64 points.

The HSBC Manufacturing Purchasing Managers’ Index, compiled by Markit, fell for the second consecutive month, to 51.2 in February from 52.9 in January.

Ratings agency Standard & Poor’s does not expect an upgrade to India’s sovereign debt rating in the next year in the absence of substantial, quality reforms,  after the government’s Budget slowed the pace of fiscal consolidation.

Capital goods stocks rose after the proposal to reduce corporate tax rate in Budget helped spur gains in capital goods companies. However, shares in ITC plunged after the Budget raised excise duty on cigarettes by 25 per cent for cigarettes of length not exceeding 65 mm, and by 15 per cent for cigarettes of other lengths.

Meanwhile USDINR pair ended at 61.8650, up by 3 paisa.

Among the sectorial indices of NSE CNX Pharma (1.91%), Bank Nifty (1.61%) and CNX Finance (1.49%) were the top performer while CNX FMCG (-2.15%), CNX Realty (-0.33%) and CNX Auto (-0.18%) were the worst performer.

Out of 50 stocks of Nifty 28 stocks ended in green and 22 ended in red.

Top 5 Nifty Gainers: Ultra Cement (7.70%), Ambuja Cement (6.73%), Axis Bank (6.11%), Grasim (5.99%) and CIPLA (5.92%).

Top 5 Nifty Losers: ITC (-5.04%), Jindal Steel (-4.11%), Bajaj Auto (-3.50%), Hero Motorcorp (-2.11%) and Bharti Airtel (-2.11%)

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Feb 27

Daily Market Commentary – 27 February 2015

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Indian equity market surged post economic survey report which pegged the economy to grow at over 8% in FY16 indicatig announcement of  big bang reforms tomorrow. Sensex zooms over 470 points to recliams its important level of 29,000, and ended the day at 29,220.12 while Nifty ended over 8,800 up by 160 points at 8,844.60.

The survey see space for policy easing on the basis of lower inflation. Growth in 2014-15 which could be in and around 8% next year will be largely driven by domestic demand.

Survey emphasised on revitalising the PPP model, which has so far seen poor response from the private players on account of higher risks involved in the initial stage of projects.

Government expects fiscal deficit target of 4.1% for FY15 and CAD to be 1% of the GDP.

Meanwhile USDINR pair ended the day at 61.89 up by 14 paisa.

Among the Sectorial indices of NSE CNX Realty (4.46%), CNX PSU Bank  (4.09%) and CNX Metal (3.03%) were the top performer. On the other side CNX FMCG was the only loser of the day, plunging -0.03%.

Out of the 50 stocks of Nifty 47 stocks were advanced while 3 were declined.

Top 5 Nifty gainers: BOB (5.98%), Tata Power (5.32%), L&T (5.04%), Ultra Cement (4.96%) and Grasim (4.87%).

Top 5 Nifty losers: Gail (-0.88%), ITC (-0.67%) and BPCL (-0.24%).