Tag Archives: Equity Market

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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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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Jan 23

Daily Market Commentary – 23 Jan 2015

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Indian equity market witnessed the big early trade rally led by the higher than expected size of the  stimulus program by ECB. Broad based indices Nifty and Sensex hits fresh high for the fourth consecutive  day of 8,866 and 29,408 respectively. Nifty ended the week at above the crucial level of 8,800 by gaining  74.20 points at 8,835.60 while Sensex ends at 29,278.84 surging 272.82 points.

The trigger for today’s rally was a 1.1 trillion euro stimulus announcement by the European Central Bank  overnight. The ECB said it would buy government bonds from this March until the end of September 2016  to kick-start the stagnant eurozone economy.

The rupee appreciated against the dollar, up 27 paise to 61.42 on dollar selling by exporters amid sustained capital inflows. Soaring domestic equity markets also supported the rupee.

Among the sectorial indices of NSE CNX AUTO led the gainers by surging 1.60%, followed by CNX  REALTY (1.50%) and CNX METAL (0.86%) while CNX MEDIA was only loser of the day, plunged by  0.07%.

Market Breath remained negative for the day with 821 shares ended in red, 403 in green and 33 remain  unchanged.

Out of 50 stocks of Nifty 31 were advanced and 19 were declined.

Top 5 Nifty Gainers: TATA POWER (6.24%), DLF (5.63%), CIPLA (4.15%), CAIRN (3.98%) and JINDAL  STEEL (3.68%)

Top 5 Nifty Losers: PNB (-2.68%), BHEL (-1.90%), GAIL (-1.87%), LUPIN (-1.29%), and HCL (-1.18%)

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