Category Archives: Market Summary

Feb 24

Daily Market Commentary – 24 February 2015

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Indian stock market turned volatile in the late afternoon session after remaining flat most part of the day amid lack of cues ahead of the Budget which ill be announced on February 28. 50 shares index Nifty ended the day at 8762.10 marginally up by 7 points to the previous close while Sensex ends the day at 29,004.66, gaining 29.55 points.

Meanwhile, the market participants were closely eyeing the developments in Parliament today as the Modi government tabled the land acquisition bill which is a basic requirement to pursue reforms promised by his government.

Analysts said that the markets are likely to remain sluggish in the run up to the Budget which will be announced on February 28.

Among the sectorial indices of CNX FMCG (1.50%), CNX Media (1.27%) and CNX Realty (0.44%) were the top performer while CNX Metal (-1.25%), CNX Energy (-0.95%) and CNX PSU Bank (0.58%) were wrost performer of the day.

Out of the 50 stocks of Nifty 27 ended in positive and 23 ended in negative.

Market breadth remained negative for NSE at the close today as 759 stocks falls against 415 advance while 35 remained unchanged.

Top Five Nifty gainers: HUL led the Nifty Gainers list and registered 3.18% gain followed KOTAK   BANK  (2.60%), ZEEL (2.48%), BPCL (2.41%) and L&T (2.09%).

Top Five Nifty Losers: JINDAL STEEL was the biggest loser and fell by -5.16% followed by CAIRN (-3.65%), SESA STERLITE (-3.58%), BOB (-3.13%) and ONGC (-3.06%).

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Feb 23

Daily market Commentary – 23 February 2015

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Indian equity market extended its fall for second straight on the first day of the week, led by losses in oil & gas, metals and banks ahead of February series expiry and Union Budget this week. Nifty falls below its crucial level of 8,800 and ended the day at 8,754.95, plunged 78.65 points, while Sensex ended the day at 28,975.11 down by 256.30 points.

Meanwhile, the Budget session of the Indian government started today with the President Pranab Mukherjee addressing both the houses of the Parliament.

President Pranab Mukherjee said that inclusive growth was the government’s top priority and it was committed to expand the job market.

Shares of Jindal Steel Power and DLF fell after the National Stock Exchange decided to exclude both stocks from CNX Nifty 50. The exchange, however, will add telecom operator Idea Cellular and private sector lender YES Bank in the Nifty at the end of next month.

The rupee weakened by 6 paise to 62.2850 against the US dollar in the trade.

Among the sectorial indices of NSE all the major indices ended in negative zone. CNX Media was the wrost performer of the day by plunging -2.16% followed by CNX PSU Bank (-1.78%) and CNX Realty (-1.66%).

Out of the 50 stocks of Nifty 9 stocks ended in green while other 41 ended in red.

Top 5 Nifty Gainers: Powergrid (1.79%), Kotak Bank (1.37%), M&M (1.04%), TCS (0.91%) and Sesa Sterlite (0.64%).

Top 5 Nifty Losers: ZEEL (-4.47%), NMDC (-3.79%), Jindal Steel (-3.37%), DLF (-3.27%) and Reliance (-2.86%).

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Feb 11

Daily Market Commentary – 11 Feb 2015

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Indian equity market rose for the second consecutive day on the hopes that huge margin defeat to spur faster reform by the BJP led central government before elections on other states in few months. Front line inex Sensex ended the day at 28,533.97, surged by 178.35 points while Nifty wrapped up the session at 8,276.40, up by 61.85 points.

Traders expect Finance Minister Arun Jaitley to boost capital spending and offer tax breaks to an under-performing manufacturing sector in the federal budget on February 28.

The rupee ended marginally lower today against the US dollar at 62.25, down by 7 paisa

Among the sectorial indices CNX Metal was the top performer, surged by 1.71% followed by CNX Auto (1.12%) and CNX FMCG (1.08%). CNX Media was the only loser of the day, plunged by 0.51%.

Market breadth of the NSE remained positve for the day with 825 shares advances, 361 declines and 23 remain unchanged.

Out of the 50 stocks of Nifty 39 stocks ended in poistive territory and 11 in negative.

Top 5 Nifty Gainers: Jindal Steel (6.48%), Tech Mahindra (3.00%), Axis Bank (2.78%), Asian Paints (2.53%) and NTPC (2.52%).

Top 5 Nifty Losers: ONGC (-2.72%), BHEL (-2.29%), ZEE (-1.41%), CAIRN (-1.10%) and Mahindra & Mahindra (-0.72%).

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