Daily Market Commentary : 6th April 2017

Indian share markets finished the trading day on a flat note after RBI maintained ‘status-quo’ in its 1st bi-monthly monetary policy review of FY18. Market staged a recovery after the central bank maintained a status quo on repo rate; real estate stocks gained on the back of its decision to allow banks to invest in REITs.

NSE Nifty closed at 9262 levels, down by 3 points, while BSE Sensex closed at 29,927 levels, down 47 points or 0.16%.

Midcap indices outperformed with 0.15% gains while Smallcap underperformed with 0.23% loss. Market breadth

Asian equity markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.33%, while the Nikkei 225 led the Hang Seng lower. They fell 1.40% and 0.52% respectively. European markets are lower today with shares in London off the most. The FTSE 100 is down 0.60% while Germany’s DAX is off 0.49% and France’s CAC 40 is lower by 0.18%.

Tata Steel, ZEEL unexpectedly topped the gainers list followed by Bajaj Auto. Hindalco, ITC and SBIN were the top losers.

On the sector specific front, Realty remained positive for the second day in a row with 0.9% gains. Energy gained 1.2%.  FMCG and PSU Bank lost more than 1%.

Jindal Steel closed at Rs 132.7 per share up by Rs 8.4 or 6.7%.

Adani Power closed at Rs 44.25 per share up by Rs 2.2 or 5.2%.

Ansal Property Infrastructure Ltd closed at Rs 18.7 per share, up by Rs 2.6 or 16%.

Navkar Corporation Limited closed at by Rs 208.4 per share up by Rs 27 or 15%.

Market breadth remained negative with 764 advances, 888 declines and 282 unchanged stocks on NSE, reflecting negative bias.

The rupee was trading at 64.97 per US dollar.

Top 5 Nifty Gainers: Tata Steel (2.05%), Zee Entertainment Ltd. (1.78%), Bajaj Auto (1.67%), Ambuja Cement Ltd. (1.63%) and UltraTech Cement Ltd. (1.46%).

Top 5 Nifty Losers: Hindalco Industries Ltd. (-2.19%), ITC (-1.77%), SBI (-1.72%), ICICI Bank    (-1.63%) and Coal India Ltd. (-1.28%)

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