Mar 24

Daily Market Commentary : 24th March 2017

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Recovery continues in Nifty and SENSEX on 2nd day due to Bank Nifty.

NSE Nifty closed at 9108 levels, up by 21.7 points or 0.24%, while BSE Sensex closed at 29,421 levels, up by 89.24 points or 0.30%.

Both the indices closed higher for second consecutive session, backed by banks on hopes of early NPA resolution.

The Nifty to remain in a range of 9015-9210 levels next week as well, citing lack of triggers. According to them, next trigger for the market would be March quarter earnings that are expected to be good.

Bank of India share price rose 5%, Bank of Baroda share price surged 4.3%, and SBI share price was up 2.8% on the BSE. Buying was also seen in private lenders, with ICICI Bank share price and Axis Bank share price finishing firm.

GRASIM IND. share price fall -3.17%%, TECH MAHINDRA share price declined -1.70%, and ZEE ENTERTAINMENT share price was down -1.51% on the BSE. Major sell of was also seen in AMBUJA CEMENT share price fall by -1.38% and TCS share price declined by -1.30%.

Power Grid Corporation of India share price finished the trading day up by 0.4% after it was reported that the company has commenced commercial operation of its 800 Kilovolt HVDC Champa-Kurukshetra Pole I project.

The power line is part of 800 kV, 3,000 Megawatt western-northern region HVDC interconnector transmission system for independent power projects in Chhattisgarh. The 2,576 circuit km Champa-Kurukshetra line has been set up at a cost of Rs 63 billion.

For the week, the market reversed some gains on profit booking amid consolidation as investors awaited March quarter earnings due next month. The Sensex was down 0.8 percent and Nifty fell 0.6 percent, traders reduces their positions due to upcoming voting on Trumps medical bill.

Yes Bank’s shares rise 2% after strong response to QIP issue.

Sun Pharma share price finished down by 0.1% on the BSE.

Power stocks finished the day on a strong note with SJVN share price and KSK Energy share price leading the gains.

The rupee was closed at 65.41 per US dollar in Today’s trading, rupee appreciated by 12 Paise.

Top 5 Nifty Gainers: BANK OF BARODA (3.95%), SBI(2.89%), ICICI BANK(2.79%), KOTAK MAH. BANK(1.77%), GAIL(1.43%).

Top 5 Nifty Losers: GRASIM IND.(-3.17%), TECH MAHINDRA(-1.70%), ZEE ENTERTAINMENT(-1.51%), AMBUJA CEMENT(-1.38%), TCS(-1.30%)

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Mar 23

Daily Market Commentary : 23rd March. 2017

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After witnessing an over 300-point crash on the Nifty on Wednesday, the market on Thursday ended the day on a positive note.

NSE Nifty closed at 9086 levels, up by 55 points or 0.6%, while BSE Sensex closed at 29,332 levels, up by 164 points or 0.5%.

Yes Bank was the top Nifty gainer whereas, TCS was the top Nifty loser in Thursday’s trading session.

While, BSE Mid-cap Index closed up 0.9% at 13853 whereas, BSE Small-cap Index closed up 0.9% at 14027.

BSE Metal index was sizzling on Thursday’s trade, with Vedanta Steel contributing majorly to the index gains lifting it to higher levels

Vedanta Steel closed at Rs 2 per share down by Rs 5.4 or 2%, While Hindustan Zinc closed at Rs 320.3 per share down by Rs 8 or 2.7%.

SOM Distilleries and Breweries closed at Rs 145 per share, up by Rs 24 per or 19%.

ITI closed at Rs 68.5 per share, up by Rs 11 or nearly 19%.

TVS Srichakra closed at Rs 3771.9 per share, up by Rs 434 or 12%.

Sharda Motor Industries closed at Rs 1934 per share, up by Rs 211 per share or 12.2%.

There were 1059 advances, 563 declines and 304 unchanged stocks on NSE, reflecting bullish undertone floating in the market.

The rupee was trading at 65.52 per US dollar.

Top 5 Nifty Gainers: Yes Bank (3.27%), Tata Motors (2.47%), NTPC (2.33%), GAIL (2.10%) and Wipro (1.84%).

Top 5 Nifty Losers: TCS (-0.85%), Eicher Motors Ltd. (-0.82%), ITC Ltd. (-0.71%), Bosch Ltd.

(-0.52%) and Hindustan Unilever Ltd. (-0.51%)

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Mar 22

Daily Market Commentary : 22nd March. 2017

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Dalal Street caught in bear grip on Wednesday as the market posted biggest one day fall in percentage terms in two months. The Sensex lost more than 300 points, weighed by global weakness amid rising uncertainty over US President Donald Trump’s economic policies, and Missile test in North Korea, which reports said failed. Recent government’s proposal to reduce cash transactions limit to Rs 2 lakh from Rs 3 lakh also caused selling pressure.

NSE Nifty closed at 9030 levels, down by 91 points or 1%, while BSE Sensex closed at 29,167 levels, down by 317 points or 1.1%.

Asian stock markets fell following overnight declines in U.S. financial markets as investors re-evaluated their “Trump trade” optimism. The Nikkei 225 is down 2.13% while Hong Kong’s Hang Seng is off 1.11% and China’s Shanghai Composite is lower by 0.50%. European markets too are lower today with shares in France off the most. The CAC 40 is down 0.88% while London’s FTSE 100 is off 0.85% and Germany’s DAX is lower by 0.68%.

HCL Tech was the top Nifty gainer whereas, Bharti Airtel was the top Nifty loser in Wednesday’s trading session.

While, BSE Mid-cap Index closed down 0.8% at 13729 whereas, BSE Small-cap Index closed up 0.9% at 13899.

BSE Telecom index was the top losing index on Wednesday’s trade, with Bharti Airtel and Idea pulling the index to its lows.

Bharti Airtel closed at Rs 337 per share down by Rs 11 or 3.3%, whereas Idea Cellular closed at Rs 91.35 per share down by 1 or 1.7%.

Century Enka closed at Rs 407 per share, up by Rs 47 per share or 13%.

Eros International Media closed at Rs 249 per share, up by Rs 18 per share or nearly 7%.

Sobha closed at Rs 340 per share, up by Rs 22 per share or nearly 7%.

Symphony closed at Rs 1534 per share, up by Rs 90 per share or 6%.

There were 481 advances, 1142 declines and 299 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

The rupee was trading at 65.48 per US dollar.

Top 5 Nifty Gainers: Lupin Ltd. (1.27%), HCL Technology Ltd. (1.25%), CIPLA (0.62%), BPCL (0.60%) and Dr. Reddy’s Laboratories Ltd. (0.50%).

Top 5 Nifty Losers: Bharti Airtel (-3.40%), ITC Ltd. (-2.95%), Tata Motors (-2.80%), Hindalco Industries Ltd. (-2.55%) and ICICI Bank (-2.52%)

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