Feb 05

Daily Market Commentary – 5 Feb 2015

Indian equity market pared all its gain in the last hour trading session to end the market for the 5th straight session at negative territory on the back of selling pressure visible in the Power, metal and real estate stocks. Sensex fall over 500 points from the day’s high to wraaped up the session at 28,850.97 plunged by 32 points. tracking the momentum NSE index Nifty ended the day at 8,711.70 down by 12 points.

Tata Power extended its losses for second straight session after rthe disappointing Q3 results. Tata Power reported net profit of Rs 198 crore during October-December quarter aganist 134 crore polled by analyst. Comapny had a loss of Rs 74.91 crore in the year-ago period. Net sales increased 1.2 percent to Rs 8,806.6 crore in the quarter ended December 2014 from Rs 8,700 crore in same quarter last fiscal.

The European Central Bank abruptly cancelled its acceptance of Greek bonds in return for funding, shifting the burden onto Athens’ central bank to finance its lenders and isolating Greece unless it strikes a new reform deal. The move, which means the Greek central bank will have to provide its banks with tens of billions of euros of additional emergency liquidity in the coming weeks, was a response to what many in Frankfurt see as the Greek government’s abandoning of its aid-for-reform programme.

The rupee on wednesday end marginally up by 2 paise to 61.73 against the greenback.

Among the sectorial indices of NSE CNX IT (1.90%) and CNX FMCG (0.49%) were only gainers while CNX Realty (-2.67%), CNX PSU Bank (-2.06%) and CNX Metal (-1.92%) were top laggards.

Market breath of NSE remain negative for the day with 1053 negative against 436 positve and 56 remian unchanged.

Out of 50 stocks of Nifty 17 ended in green and 33 in red.

Top 5 Nifty Gainers: HCL (3.88%), BPCL (3.49%), Wipro (3.20%), Infosys (2.01%) and Axis Bank (1.68%).

Top 5 Nifty Losers: Tata Power (-8.21%), Jindal Steel (-5.40%), PNB (-4.69%), Bank of Baroda (-4.57%) and Sesa Sterlite (-3.97%)

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Feb 04

Daily Market Commentary – 4 Feb 2015

Indian equity market remained volatile throughout the day and front-line indices pared their gain in the last hour trading session due to the selling pressure on banking and capital goods stock. BSE Sensex plunged by 117.03 points and ended the day at 28,883.11 while Nifty ended the day at 8,723.70 down by 32.85 points.

Tata Power beats the market expectation as its consolidated net profit was Rs 198 crore during October-December quarter aganist 134 crore polled by analyst. Comapny had a loss of Rs 74.91 crore in the year-ago period. Net sales increased 1.2 percent to Rs 8,806.6 crore in the quarter ended December 2014 from Rs 8,700 crore in same quarter last fiscal. While in its filing company said that the power business grew 9.8 percent year-on-year to Rs 6,545.7 crore with EBIT rising 5 percent but coal revenue fell 18 percent to Rs 2,104 crore with EBIT surging 17.4 times in Q3FY15.

The rupee on wednesday weakend by 8 paise to end at 61.75 against the greenback on on the back of US interest rate outlook.

Among the sectorial indices of NSE CNX Metal was top gainer, surged by 2.09% followed by CNX Realty (1.15%) and CNX Pharma (0.92%) while CNX PSU Bank led the laggards by plunging 1.53% accompained by CNX Media (-1.31%) and CNX Auto (-1.20%).

Market breath of NSE remain negative for the day with 695 negative against 513 positive and 47 remain unchanged.

Out of 50 stocks of Nifty 19 ended in green and 31 in red.

Top 5 Nifty Gainers: Hindalco (3.62%), CAIRN (3.44%), Tata Power (3.03%), ONGC (2.38%) and Coal India (2.23%).

Top 5 Nifty Losers: Axis Bank (-4.45%), BHEL (-3.97%), ZEEL (-2.71%), Tech Mahindra (-2.59%) and SBIN (-2.58%).

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Feb 02

Daily Market Commentary – 2 Feb 2015

Indian equity market witnessed the volatile session throughout the day ahead of RBI credit policy announcement on 3 feb. Nifty ends below its pshycological level of 8,800 at 8,797.40 plunged by -11.50 points while tracking the momentum sensex ended the day at 29,122.27 down by 60.68 points.

The Reserve Bank of India will announce its credit policy on February 3 after governor Raghuram Rajan surprised the street with an out of turn repo rate cut of 25 bps on January 15, 2015 on the premise that inflation number has come down and would remain largely range bound in the next few months.

HCL Technologies added another 5 percent to Friday’s rally as brokerages appeared bullish on the stock. CLSA raised target price to Rs 2,200 and expects to see continued earnings surprises & re-rating potential. Citi too raised the target to Rs 2,175 on their sole ‘buy ‘ call in the Indian IT services space.

Among the sectorial indices CNX IT was the top performer of the day surging 1.01% followed by CNX Realty(0.55%) and CNX Auto(0.51%) meanwhile CNX FMCG was the worst performer down by -1.54%.

Market Breath remained positive for the day with 689 shares ended in green, 467 in red and 46 remain unchanged.

Out of 50 stocks of Nifty 21 stocks advanced and 29 declined.

Top 5 Nifty Gainers: HCL (5.95%), Axis Bank (5.55%), Hindalco (3.90%), Wipro (3.14%) and Kotak Bank (2.75%) led the gainers list.

Top 5 Nifty Losers: Asian Paints (-5.70%), Bharti Airtel (-3.67%), Dr Reddy (-2.92%), Jindal Steel (-2.87%), and ACC (-2.74%)

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