Tag Archives: Equity market summary

Feb 23

Daily market Commentary – 23 February 2015

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Indian equity market extended its fall for second straight on the first day of the week, led by losses in oil & gas, metals and banks ahead of February series expiry and Union Budget this week. Nifty falls below its crucial level of 8,800 and ended the day at 8,754.95, plunged 78.65 points, while Sensex ended the day at 28,975.11 down by 256.30 points.

Meanwhile, the Budget session of the Indian government started today with the President Pranab Mukherjee addressing both the houses of the Parliament.

President Pranab Mukherjee said that inclusive growth was the government’s top priority and it was committed to expand the job market.

Shares of Jindal Steel Power and DLF fell after the National Stock Exchange decided to exclude both stocks from CNX Nifty 50. The exchange, however, will add telecom operator Idea Cellular and private sector lender YES Bank in the Nifty at the end of next month.

The rupee weakened by 6 paise to 62.2850 against the US dollar in the trade.

Among the sectorial indices of NSE all the major indices ended in negative zone. CNX Media was the wrost performer of the day by plunging -2.16% followed by CNX PSU Bank (-1.78%) and CNX Realty (-1.66%).

Out of the 50 stocks of Nifty 9 stocks ended in green while other 41 ended in red.

Top 5 Nifty Gainers: Powergrid (1.79%), Kotak Bank (1.37%), M&M (1.04%), TCS (0.91%) and Sesa Sterlite (0.64%).

Top 5 Nifty Losers: ZEEL (-4.47%), NMDC (-3.79%), Jindal Steel (-3.37%), DLF (-3.27%) and Reliance (-2.86%).

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Feb 11

Daily Market Commentary – 11 Feb 2015

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Indian equity market rose for the second consecutive day on the hopes that huge margin defeat to spur faster reform by the BJP led central government before elections on other states in few months. Front line inex Sensex ended the day at 28,533.97, surged by 178.35 points while Nifty wrapped up the session at 8,276.40, up by 61.85 points.

Traders expect Finance Minister Arun Jaitley to boost capital spending and offer tax breaks to an under-performing manufacturing sector in the federal budget on February 28.

The rupee ended marginally lower today against the US dollar at 62.25, down by 7 paisa

Among the sectorial indices CNX Metal was the top performer, surged by 1.71% followed by CNX Auto (1.12%) and CNX FMCG (1.08%). CNX Media was the only loser of the day, plunged by 0.51%.

Market breadth of the NSE remained positve for the day with 825 shares advances, 361 declines and 23 remain unchanged.

Out of the 50 stocks of Nifty 39 stocks ended in poistive territory and 11 in negative.

Top 5 Nifty Gainers: Jindal Steel (6.48%), Tech Mahindra (3.00%), Axis Bank (2.78%), Asian Paints (2.53%) and NTPC (2.52%).

Top 5 Nifty Losers: ONGC (-2.72%), BHEL (-2.29%), ZEE (-1.41%), CAIRN (-1.10%) and Mahindra & Mahindra (-0.72%).

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Feb 09

Daily Market Commentary – 9 Feb 2015

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Indian equity market continued its loosing streak for the 7th straight trading session on the back of exit polls showing that AAP would form the government in Delhi. Weak Q3 earnings also weighed on sentiments. NSE’s Nifty plunged 134.70 points, over 1.5% to end the day at 8,526.35 while Sensex fell down by 490 points to end 28,227.39, down by 1.71%.

Tata Steel shares fell  on Monday after the steel major reported a 69% drop in its December quarter profits. Its consolidated net profit fell to Rs 157 crore in the three months through December 31, the lowest since the second quarter of 2013, from Rs 503 crore a year earlier. Its revenues declined 8% to Rs 33,633 crore in the October-December quarter of 2014.

Larsen and Toubro (L&T) third quarter profit fell  14.6% year-on-year to Rs 1,060 crore on standalone basis. Profit was expected at Rs 1,255 crore on revenue of Rs 15,973 crore for the quarter, according to the average of estimates of analysts polled. Net sales grew 4.2% to Rs 14,995 crore during October-December quarter from Rs 14,388 crore in same quarter last year.  Consolidated net profit increased 9% to Rs 867 crore and revenue rose 9.7% to Rs 23,878 crore during the quarter. Analysts had expected profit of Rs 1,075 crore on revenue of Rs 22,850 crore.

The rupee plunged past 62 a dollar due to fresh demand for the dollar from importers, falling 47 paise to end 62.16 a dollar.

Among the NSE’s Sectorial indices, all the indices ended in negative terrain. CNX PSU Bank (-3.48%), CNX Metal (-2.65%) and CNX Realty (-2.55%) were top laggards.

Top 5 Nifty Gainers: Bajaj Auto (2.06%), HCL (2.03%), Dr. Reddy (1.80%), Sun Pharma (1.58%) and ONGC (1.52%)

Top 5 Nifty Losers: L&T (-6.60%), Tata Steel (-5.75%), Sesa Sterlite (-4.65%), Gail (-4.6%) and CIPLA (-3.88%)

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