The Indian equity market ended flat with the Nifty snapping a six-day winning streak. Nifty ended with loss of 12 points to close at 7900 while Sensex ended with a loss of over 42 points at 25838.

Food & Tobacco stocks are trading on a mixed note with Wadala Commodities and VST Industries leading the gains. As per a leading financial daily, Nestle India has reported that its noodle brand Maggi has managed to garner 50% market share in five months of its relaunch. This marks a major upside for the FMCG major that had been hit last year after the ban on Maggi noodles due to alleged presence of excessive lead content.

Nestle India Ltd is one the biggest players in the FMCG segment. It has its presence in milk & nutrition, beverages, prepared dishes & cooking aids & chocolate & confectionery segments. Presently, its stock is trading down by 0.2%.

Banking stocks rallied on a media report the Reserve Bank of India trimmed the list of companies whose loans need to be provided for against the risk of default.

ICICI Bank, SBI, Coal India, Bank of Baroda, BPCL, Tata Motors and ONGC were among the gainers on NSE, whereas Wipro, Bharti Infratel, UltraTech Cement, BHEL, ACC and Ambuja Cement were among the losers today.

Equitas Holdings debuted at the exchanges at Rs 146.53 per share, up 33% from issue price of Rs 110. The stock ended at Rs135 surging 22%. Its IPO price was at Rs110 per share. The company attracted demand for more than 17 times the number of shares on sale in its IPO.

Wipro cracked 7% to Rs.559 on BSE. The company reported a fall in profit in Q4 ending 2015-16. Its consolidated net profit dipped 1.6% to Rs 2,235 crore for the quarter ended March against a net profit of Rs 2,272 crore in the same quarter last fiscal. The company’s revenue, however, rose 12.9% to Rs 13,741.7 crore during the reported quarter, from Rs 12,171.4 crore in the year-ago period.

Automobile stocks are trading mixed with Mahindra & Mahindra (M&M) and Maharashtra Scooters leading the losses. In another news update it was reported that Bajaj Auto is aiming to sell three lakh three-wheelers in the current fiscal, up by 17% over the last fiscal. The company had sold 2,54,967 three-wheelers during the 2015-16 fiscal.

USDINR trade today to close at 66.33

Out of 1,429 stocks traded on the NSE, 846 declined and 533 advanced.

Top 5 Nifty Gainers: Bharti Airtel (2.18%) TCS (0.99%), Adani Ports & Sez (0.98%), SBI (0.98%), and Bajaj Auto (0.77%).

Top 5 Nifty Losers: Reliance Ind. (-2.15%), NTPC (-2.03%), Tata Steel(-1.92%), Sun Pharma. (-1.62%) and HDFC (-1.41%).

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The Indian markets witnessed a gradual downturn after a gap-up opening and finally closed more or less on a flat note. International Monetary Fund (IMF) lowered its global growth forecast to 3.4% in 2016. Nifty ended with nominal gains of 2 points to close at 7912.05 while Sensex ended with a gain of over 36 points at 25880.

As an article in Economic Times states, metal stocks such as JSPL, Hindalco, Tata Steel, Vedanta and JSW Steel rallied between 10-30% in the past one month. The gains here have outperformed the BSE Sensex, which rose by around 4% during the same period.

There are three main reasons behind this rally. One is the recent rally in the prices of base metals such as iron and copper. The rally in metal prices is witnessed on the back of a weak dollar overseas. The dollar has tanked nearly 5% in the last one month and this has aided the commodity prices.

Second are signs of improvement in China’s industrial sector, a major contributor to global metal demand. The improvement has added to the positive sentiments.

Third can be the steps taken by the government to limit cheap imports into India. Most of the surge in metal stocks was followed after the government imposed a provisional safeguard duty of 20% on import of certain categories of steel. Also, this measure was followed by the introduction of a fixed minimum import price on 173 steel products in February. Along with this the government extended the safeguard duty till March 2018.

We think that it would be too early to conclude that. This is because there are still many headwinds that remain ahead for the metal companies. One shall note that metal companies are sitting on huge debts. And this has hit their profitability levels. Apart from this, there is oversupply on a global level and the domestic steel industry is still recovering from aggressive dumping from China. So going by fundamentals, the indicators may suggest that the present rally is on shaky grounds.

PSU Bank sector remained a show stealer and gained a total of 86 points. Bank Nifty and Financial Service sectors gained more than 1 per cent each. Pharma remained marginally positive with 0.47 per cent upside. On the contrary, IT and Realty sector tumbled the most, losing 1.7 per cent each. FMCG recovered but still closed in red with 0.87 per cent loss. Media and Auto were flat to negative.

We think that it would be too early to conclude that. This is because there are still many headwinds that remain ahead for the metal companies. One shall note that metal companies are sitting on huge debts. And this has hit their profitability levels. Apart from this, there is oversupply on a global level and the domestic steel industry is still recovering from aggressive dumping from China.

So going by fundamentals, the indicators may suggest that the present rally is on shaky grounds.

USDINR trade today to close at 66.29

From the Nifty basket, 42 stocks advanced and 8 declined.

Top 5 Nifty Gainers: Tata Steel (1.58%) Bajaj Auto (2.00%), Adani Ports & Sez (1.06%), ONGC (0.85%), and Maruti Suzuki (1.17%).

Top 5 Nifty Losers: BHEL (-1.28%), Sun Pharma (-1.05%), Bharti Airtel (-0.83%), Asian Paints. (-1.04%) and HDFC (-0.79%).

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.

Indian equity market ended in the positive terrain for the first time after three-day decline with the International Monetary Fund (IMF) raising its growth forecast for the current fiscal to 7.2 per cent. Frontline indice indices ended the day with almost 0.9% gain. Nifty ended at 8,776, surged by 76.05 points while Sensex ended with a gain of over 270 points at 28,930.41.

Insurance companies gained in trades today on hopes that the government would pass the insurance bill in the Rajya Sabha. The bill calls for raising the foreign investment limit in the insurance sector to 49 per cent from 26 per cent.

Shares of ITC jumped on reports that the company has increased prices of its cigarettes by 10% to 25%. Meanwhile state-run banks saw a renewed buying interest a day after the government signalled that it is ready to allow lenders raise funds from the market to meet their capital needs.

USDINR pair plunged by 28 paise in the trade today to close at 62.50.

Among the sectorial indices of Nifty, CNX Media was the top performer, rose by 1.61% followed by CNX FMCG (1.59%) and CNX Realty (1.54%). all other major indices ended in positive territory.

From the Nifty basket, 37 stocks advanced and 13 declined.

Top 5 Nifty Gainers: Cairn (4.83%), Sesa Sterlite (4.57%), NTPC (3.41%), Hindalco (3.18%) and DLF (2.83%).

Top 5 Nifty Losers: Tech Mahindra (-2.11%), M&M (-1.53%), Bajaj Auto (-1.36%), Dr. Reddy (-1.12%) and Coal India (-1.02%).

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.