Tag Archives: Equity market summary

Feb 03

Daily Market Commentary – 3 Feb 2015

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Indian equity market plunged after the RBI bi-monthly monetary policy and credit policy review led by the rate senstive stocks. Broadbased indices Sensex fell over 122.13 to end the day at important level of 29,000 and Nifty wrapped up the session at 8,756.55, down by 40.85 points.

The Reserve Bank of India governor Raghuram Rajan today decided to hold the key interest rates steady, saying that the central bank would be closely watching the Budget, growth numbers and inflation data, all due this month. However, the RBI announced to cut statutory liquidity ratio (SLR) by 50 basis points to 21.5 per cent. This will free up more resources for banks to lend.

Public sector lender Punjab National Bank missed profit estimates in the December quarter. It’s net profit was Rs 775 crore in the third quarter, lower than Rs 967 crore estimated by analysts. Its net interest income or interest earned over interest expended was Rs 4,234 crore, also lower than estimated Rs 4,410 crore. Net bad loans as a percentage of net advances rose to 3.82 per cent, from 3.26 per cent in the September quarter, and 2.80 per cent in the year-ago quarter.

Meanwhile USDINR pair ended lower against the previous day close to 61.67 down by 12 paise.

Among the sectorial indices of NSE CNX Energy was top gainer, surged by 1.68% followed by CNX FMCG (1.02%) and CNX Metal (0.79%) while Bank Nifty plunged 2.43%.

Market breath of NSE remain Negative for the day with 662 negative against 518 positve and 39 remian unchanged.

Out of 50 stocks of Nifty 20 ended in green and 30 in red.

Top 5 Nifty Gainers: Sesa Sterlite (5.90%), Bharti Airtel (4.09%), CAIRN (4.03%), Reliance (3.11%) and ONGC (2.67%).

Top 5 Nifty Losers: PNB (-8.32%), Axis Bank (-5.13%), Tata Power (-4.11%), Kotak Bank (-3.85%) and Baja Auto (-3.80%).

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Feb 02

Daily Market Commentary – 2 Feb 2015

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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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Jan 27

Daily Market Commentary – 27 Jan 2015

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The BSE Sensex and Nifty hit a record high for a fifth consecutive session on today after a deal that could open the door for US companies to build nuclear reactors in the country. Front line index Nifty breaks the crucial level of 8,900 and hits its new high of 8,925.05 before closing at 8,910.50 up by 74.90 points while Sensex hits its fresh record high of 29618.59 and wrapped up the session at 29,571.04 surging by 292.20 points.

Maruti Suzuki, India’s largest car maker, reported an 18 per cent year-on-year (y-o-y) jump in its net profit to Rs 802 crore for the quarter ending December 31, 2014. Its net sales rose over 15 per cent y-o-y to Rs 12,263 crore. The company had reported a net profit of Rs 681 crore on sales of Rs 10,619 crore in the same period last fiscal.

Meanwhile USDINR pair ended at 61.39 with 3 paisa loss against the previous session close of 61.42.

Among the sectorial indices Bank Nifty and CNX Finance were the biggest gainers surged by 2.40% followed by CNX Auto (1.30%) and CNX Realty (1.21%) while CNX IT (-1.61%) was the top loser. Most of the sectorial indices ended in green terrain.

Market breath of NSE remain Negative for the day with 632 negative against 575 positve and 31 remian unchanged.

Out of 50 stocks of Nifty 27 ended in green and 23 in red.

Top 5 Nifty Gainers: Axis Bank (4.97%), Cipla (4.26%), ICICI Bank (3.53%), ITC (3.21%) and Asian Paints (3.18%).

Top 5 Nifty Losers: Dr. Reddy (-4.44%), Cairn (-3.66%), Infosys (-3.50%), M&M (-3.04%) and Coal India (-2.71%).

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