Tag Archives: Equity

Mar 11

Daily Market Commentary – 11th March 2015

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Indian equity market moved in a range on Wednesday as gains in telecom stocks over spectrum auctions were offset by a sharp fall in Hindalco Industries over an investigation into the allocation of coal blocks. Frontline index Nifty and Sensex ended at 8,699.95 down by 12 points and 28,659.17 plunged 50 points respectively.

Telecom stocks such as Bharti Airtel gained after operators were seen as having successfully secured most of their spectrum needs at the ongoing auction of mobile airwaves.

However, Hindalco Industries fell to its lowest since May 5, 2014 after a court summoned billionaire Kumar Mangalam Birla, chairman of Aditya Birla Group to which Hindalco belongs and former Prime Minister Manmohan Singh.

The summons were related to the allocation of coal blocks to Hindalco during the previous Congress government, which were later overturned by the supreme court. Hindalco declined to comment.

Among the sectorial indices of NSE, CNX Metal (-1.69%), CNX Pharma (-0.92%) and CNX PSU Bank (-0.69%) were top losers while CNX Realty (0.58%), CNX Finance (0.10%) and CNX Auto (0.06%) were top gainers of the day.

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

Meanwhile USDINR pair ended the day with gain of 2 paisa at 62.78.

Top 5 Nifty Gainers: Bharti Airtel (5.99%), NTPC (3.10%), Tech Mahindra (2.82%), M&M (2.26%) and Kotak Bank (2.09%)

Top 5 Nifty Losers: Hindalco (-5.11%), Cairn (-2.88%), Sesa Sterlite (-2.78%), Tata Steel (-1.87%) and BOB (-1.81%)

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Mar 04

Daily Market Commentary – 4 March 2013

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Indian Equity market pared all its early trae gains in afternoon trade with the Sensex falling 213 points to 29,380.73 and the Nifty losing 73 points to 8,992.65. All the sectoral indices, barring healthcare, are in the red with oil & gas and rate-sensitive sectors leading the fall. However, pharma maintained its strong uptrend. Both Sensex and Nifty had risen nearly 3 per cent in the previous four sessions on Budget announcements, which were mostly viewed positively by market participants.

In early trade, the Sensex had breached the 30,000 for first time and hits the fresh high of 30,024.74 by gaining over 400 points and the Nifty, touched life high of 9,119.20 after the Reserve Bank of India governor Raghuram Rajan in a surprise move decided to cut repo rate by 25 basis points.

The INR remained under pressure due to dollar demand and ended the day at 62.25 down by 33.5 paisa.

Among the sectorial indices of NSE CNX PSU Bank (-3.04%) witnessed the major selling pressure followed by CNX Metal (-2.57%) and Bank Nifty (-1.59%). CNX Pharma (1.32%) and CNX FMCG (0.40%) were only gainers of the day.

Out of the 50 stocks of Nifty 8 shares ended in green and 41 ended in red.

Top 5 Nifty Gainers: Sun Pharma (6.57%), DLF (1.85%), ITC (1.04%), HCL (0.43%) and HDFC (0.29%).

Top 5 Nifty Losers: Sesa Sterlite (-4.75%), NMDC (-4.34%), BOB (-3.74%), CAIRN(-3.71%) and Hindalco (-3.59%)

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Mar 02

Daily Market Commentary – 2 March 2015

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Indian stock market pared all its early trading gains in the  afternoon trading session but recoup some of the gain in the last hour trading session. Front line indes Nifty ended above 8,950 by surging 54.60 points to end the day at 8,956.75 while BSE’s 30 stock index Sensex ended at 29,459.14, up by 97.64 points.

The HSBC Manufacturing Purchasing Managers’ Index, compiled by Markit, fell for the second consecutive month, to 51.2 in February from 52.9 in January.

Ratings agency Standard & Poor’s does not expect an upgrade to India’s sovereign debt rating in the next year in the absence of substantial, quality reforms,  after the government’s Budget slowed the pace of fiscal consolidation.

Capital goods stocks rose after the proposal to reduce corporate tax rate in Budget helped spur gains in capital goods companies. However, shares in ITC plunged after the Budget raised excise duty on cigarettes by 25 per cent for cigarettes of length not exceeding 65 mm, and by 15 per cent for cigarettes of other lengths.

Meanwhile USDINR pair ended at 61.8650, up by 3 paisa.

Among the sectorial indices of NSE CNX Pharma (1.91%), Bank Nifty (1.61%) and CNX Finance (1.49%) were the top performer while CNX FMCG (-2.15%), CNX Realty (-0.33%) and CNX Auto (-0.18%) were the worst performer.

Out of 50 stocks of Nifty 28 stocks ended in green and 22 ended in red.

Top 5 Nifty Gainers: Ultra Cement (7.70%), Ambuja Cement (6.73%), Axis Bank (6.11%), Grasim (5.99%) and CIPLA (5.92%).

Top 5 Nifty Losers: ITC (-5.04%), Jindal Steel (-4.11%), Bajaj Auto (-3.50%), Hero Motorcorp (-2.11%) and Bharti Airtel (-2.11%)

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