Jan 22

Daily Market Commentary – 22 Jan 2015

Indian equity market ended positive for the 7th straight trading session led by strong buying by FIIs. Meanwhile broad based indices rallied in defined range throughout the day. Sensex for the 3rd consecuitve day hits its fresh high of 29,060 and wrapped up session at 29,006.02 gained 117.16 points or 0.41%. Sensex moves 28,000 to 29,000 mark in just two and a half months. It had hit 28,000 mark on Nov 5, 2014. Tracking the momentum Nifty surged 31.90 points to end the day at 8,761.40, after hitting all time high of 8,772.

Indian Markets extending its gain a ahead of European Central Bank meeting outcome later in the day on the hopes of quantitative easing by the European Central Bank.

The rupee traded flat to marginally lower as the dollar strengthened overseas. The rupee pared its early trade gain on mild bouts of dollar demand by importers. USDINR pair ended at 61.69 against a close of 61.74 yesterday.

Among the sectorial indices CNX Pharama (1.67%) was the biggest gainer followed by CNX Auto (0.71%) and CNX Media (0.70%) while CNX Energy (-0.84%) was the top loser. Most of the other sectorial indices ended in green terrain.

Market breath of NSE remain Negative for the day with 641 negative against 580 positve and 47 remian unchanged.

Out of 50 stocks of Nifty 31 ended in green, 13 in red and 1 reamin unchanged.

Top 5 Nifty Gainers: Sun Pharma (3.62%), Axis Bank (3.61%), DLF (3.48%), Tata Motors (2.65%) and IDFC (2.47%).

Top 5 Nifty Losers: Reliance (-2.49%), NTPC (-2.16%), PNB (-1.50%), HCL (-1.50%) and Tech Mahindra (-1.27%).

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Jan 21

Daily Market Commentary – 21 Jan 2015

Indian equity market continued its northward momentum for the 6th consecutive day after the surprise rate cut by RBI, meanwhile market moved in small range but remained positive throughout the day. Broad based index Sensex ended the day at 28,888.86 surged by 104.19 points or 0.36% and Nifty wrapped up the today’s trading session at 8,729.50 up by 33.90 points or 0.39%.

ITC fell after the FMCG major’s cigarette volume growth failed to meet Street estimates.ITC, India’s biggest cigarette maker, reported over 10 per cent year-on-year(y-o-y) jump in its net profit to Rs 2,635 crore for the quarter ending December 31, 2014. Revenues for the quarter stood at Rs 8,800 crore against Rs 9,675 crore estimated by analysts poll. Cigarette sales, which contributes nearly 50 per cent to the overall revenues remained flat at Rs 4,142 crore.

The rupee strengthened by 6.5 paise to 61.6250 against the US dollar in trade today, extending its rising streak for the fifth straight day at the foreign exchange on selling of the US currency by exporters and banks.

Among the Sectorial indices on NSE, CNX PSU BANK led the gainers list by surging 2.45%. CNX IT (1.01%) and CNX FINANCE (0.69%) are other top gainer. While CNX FMCG (-1.98%) was the biggest loser followed by CNX MEDIA (-1.29%) and CNX METAL (-0.66%).

The market breadth on the NSE was negative as 750 stocks were declining as against 483 stocks advancing and 49 remain unchanged.

Out of 50 stocks of Nifty 29 were advanced while 21 declined.

Top 5 Nifty Gainers: HUL (5.35%), BOB (3.77%), BHARTI AIRTEL (3.76%), PNB (3.35%) and HDFC (3.08%)

Top 5 Nifty Losers: ITC (-5.21%), CIPLA (-2.93%), ZEEL (-2.30%), SESA STERLITE (-2.25%) and NMDC (-1.92%)

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Jan 20

Daily Market Commentary – 20 Jan 2015

Indian equity market continued its bull run after starting a week on positive in previous session led by buying on metal, banking and FMCG stocks. Front line index Nifty hits a fresh high of 8707 in today’s trade. Nifty ended the day at at 8,695.60 surging by 144.90 points or 1.69% while Sensex also hits its new high of 28,826.50. BSE index rose 522.66 points or 1.85% and wrapped up the session at 28,784.67. Tracking the momentum, as much as 87 stocks rose to their fresh 52-week highs on the National stock Exchange.

Shares of Sesa Sterlite soars on the report that the company may soon restart mining in Goa where it holds significant number of iron ore mines, Awaited for environment clearances.

The rupee traded flat to marginally lower as the dollar strengthened overseas. The rupee slipped from a two-month high , ended at 61.72 against a close of 61.71 yesterday.

Among the sectorial indices CNX METAL (3.06%) was the biggest gainer followed by CNX FINANCE (2.46%) and BANK NIFTY (1.86%). All other indices ended in green terrain.

Market breath of NSE remain positive for the day with 693 positve, 542 negative and 35 remian unchanged.

Out of 50 stocks of Nifty 37 ended in green and 13 in red.

Top 5 Nifty Gainers: Sesagoa Sterlite (5.88%), HDFC (5.78%), Tata Steel (4.74%), Axis Bank (4.39%) and Tata Motors (3.98%).

Top 5 Nifty Losers: GAIL (-2.62%), Tata Power (-1.15%), Dr Reddy (-0.72%), Powergrid (-0.64%) and Maruti (-0.57%).

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