Wednesday, November 26, 2014

Markets end the day with modest gains

Between gains and losses the  Indian equity markets ended with modest gains ahead of November F&O expiry tomorrow. The market started the day on a steady note mirroring the cues from the other Asian markets, which, were somewhat mixed
The Sensex opened 17 points lower at 28,322, and gyrated between zones before drifting to a low of 28,261 in late morning deals. The NSE Nifty too which started the day 13 points lower at 8,450, bottomed-out for the day at 8,439, and then staged a smart pull-back on the back of short-covering in select index heavyweights, mainly ITC
The Sensex touched a high of 28,470 - up 209 points from the day's low, and the Nifty jumped to a high of 8,500 - up 62 points from the lows.
A late bout of volatility, on account of the derivatives expiry, saw the key benchmark indices slip back into the negative zone for brief while, only to bounce back and finish with marginal gains. The Sensex ended the day 48 points higher at 28,386, while the Nifty added 13 points to 8,476.
Shares Bharti Airtel declined after Nigeria's central bank devalued the naira by 8% and raised interest rates sharply. The bank moved the naira's target band to 160-176 to the U.S. dollar, compared with 150-160 naira previously
ITC did a role reversal today, after being the biggest dragger in the previous trading session, the stock today turned out to be the biggest contributor. ITC alone accounted for a gain of 52 points for the Sensex, and 15 points for the NSE Nifty
The broader market out-performed the benchmark indices. The CNX Midcap index was up 0.5 per cent at 12,180, and the Smallcap index spurted by 0.8 per cent to 5,140.
The market breadth too was fairly positive today - out of 1,729 stocks traded on the NSE, 931 advanced and 576 declined today.
Among sectors - the CNX Realty index zoomed 4 per cent to 215.65. The FMCG and the Metal indices surged over a per cent each to 19,957 and 2,831, respectively. The Bank Nifty slipped 0.3 per cent to 17,976.
Real-estate major - DLF today zoomed by nearly 7 per cent to Rs. 152 on the back of huge volume. The counter witnessed 2.5 times jump in traded volume on the BSE. Meanwhile, the company has expressed its inability and sought more time from the Supreme Court to pay Rs. 580 crore as part of the deposit sum
Gail India surged 2.7 per cent to Rs. 490. Sesa Sterlite, Grasim, BHEL and Hindalco rallied over 2 per cent each to Rs. 241, Rs. 3,562, Rs. 271 and Rs.  169, respectively.
ITC bounced back to a high of Rs 366. Following yesterday's 5 per cent fall, and finally ended the day with a gain of over 2 per cent at Rs. 363.
Hero MotoCorp, Asian Paints, Mahindra & Mahindra, IndusInd Bank, Tech Mahindra, NTPC, ACC, Cairn India and HDFC were the other major gainers.
On the other hand, Zee Entertainment after a two-day rally saw some aggressive profit-taking today. The stock shed nearly 5 per cent at Rs. 375.
Bharti Airtel and Jindal Steel dropped 2.6 per cent each to Rs. 393 and Rs. 143, respectively.
ICICI Bank slipped another 1.8 per cent to Rs. 1,706. HCL Technologies declined 1.4 per cent to Rs. 1,634.
Bajaj Auto, IDFC and Lupin were the other prominent losers today.

Tuesday, November 25, 2014

Nifty dips below 8500

After crossing the 8500 mark in the previous trading session, Tuesday saw some profit booking at higher levels.  Weak global cues and a tepid Rupee was enough a reason for a soft start to the day. Sentiment further took a hit after the Health Ministry approved a ban on sale of loose cigarette, and also raised the minimum age for sale of tobacco products. 

Selling pressure was so fierce that barring the oil & gas index all the other major sectoral indices on the BSE ended with losses. The BSE realty index was the top loser followed by FMCG, power, banking and metals index. 

The Mid-Cap and the Small-Cap index fell sharply as well, indices slipped by 1.5% to 2.3% respectively.

The Sensex sheds nearly 200 points, while the NSE Nifty dropped 67 points to 8,463, with ITC and ICICI Bank accounting for a loss of 44 points on the index.

The Sensex and Nifty started the day almost unchanged around the respective previous close. The benchmark indices could barely manage to kiss their respective record highs at 28,541 and 8,535, before slipping into the negative zone.

Weakness was clearly evident in banking, energy, metal and realty stocks in the first half of the trading day, which resulted to a loss of 0.7 per cent to the benchmark indices. A sudden bout of selling in the FMCG stocks, mainly ITC, in the second half of the day saw the market plunge deeper into red. 

The Sensex tumbled to a low of 28,218 - down 324 points from the day's high as ITC collapsed almost 7 per cent in intra-day trade. The NSE Nifty too tanked heavily to 8,429, down 106 points from the highs.

Some counter-buying in blue chips like HDFC, HDFC Bank, ONGC, Reliance Industries and Hindustan Unilever helped the market recoup some losses at close. The Sensex finally ended with a loss of 161 points at 28,338. The Nifty after conquering the 8,500-level in trades yesterday was down 67 points at 8,463 today.

The broader market witnessed heavier amount of selling. The CNX Midcap index shed 1.4 per cent at 12,124, while the Smallcap index plunged 2.2 per cent to 5,100.

The market breadth too was extremely bearish, with declining stocks outpacing the advancing shares in 4:1 ratio, i.e. four losers for every gainer on the NSE.

Other major dragger in today's trade was ICICI Bank. The stock after registering a record high and gaining 5 per cent gain in the last two trading sessions was down 2 per cent at Rs 1,738 today. 

Among other Nifty stocks - DLF and NMDC tumbled nearly 4 per cent each to Rs. 142 and Rs. 141, respectively.

Kotak Mahindra Bank also witnessed significant unwinding today on reports of Sebi probing charges of insider trading ahead of the merger announcement with ING Vysya Bank. The stock declined 3.4 per cent to Rs. 1,159.

IDFC dropped 3 per cent to Rs. 154. Bank of Baroda slipped nearly 3 per cent, while Punjab National Bank and Tata Steel shed 2.5 per cent each.

UltraTech Cement, Power Grid Corporation, ACC, Larsen & Toubro, IndusInd Bank and NTPC were also down around 2 per cent each.

On the other hand, BHEL rallied over 3 per cent to Rs. 266 on the back of renewed buying interest at the counter.

Zee Entertainment extended its winning run for the second straight day, and finished at a fresh all-time high at Rs. 394 - up 2.5 per cent.

Hindustan Unilever gained 2 per cent at Rs. 766. Cipla and Dr.Reddy's added 1.6 per cent each to Rs. 629 and Rs. 3,580, respectively. ONGC, HDFC and HDFC Bank were up also over a per cent each.

Monday, November 24, 2014

Nifty conquers 8,500 as IT, metals lead

The week got off to a roaring start with the Nifty zipping past the 8500 mark and closing above it for the first time ever. Weekend gains in the US coupled with strong momentum in heavyweights saw indices scale to fresh life-time highs. ICICI Bank and Infosys contributed over 60% to today's rally in Nifty. 
 
Following Friday's heroics, the Sensex started the day with a positive gap of 78 points at 28,413. The NSE Nifty was up 14 points at 8,491 at the opening. With global cues being positive, it was just matter of time, that the NSE index broke past the 8,500-mark in the opening trade. 
 
Banking stocks continued from where they left on Friday. IT stocks, especially Infosys attracted buying today, while thanks to the China rate cut, metal stocks too joined the rally.

 The market exhibited solid trend throughout the day, with the Nifty scaling a fresh peak at 8,535 in late trades. The NSE index finally ended the day with a gain of 53 points at 8,530.
 
The Sensex registered a new summit at 28,542, and finally ended the day with a gain of 165 points at 28,500. Infosys, ICICI Bank, HDFC Bank and TCS alone contributed 171 points to the BSE index today.
 
Condolences were offered on the opening day for the demise of former Union Minister and Rajya Sabha MP Murli Deora. Tomorrow the BJP-led NDA government will table Bills for approval. 
 
The broader market ended on a mixed note. While the CNX Midcap index was up 0.4 per cent at 12,298, the Smallcap index slipped 0.4 per cent to 5,212.
 
Given the steady nature of the day's proceedings, the India VIX (Volatility) Index recorded a fresh all-time low at 9.3475, and was down 6 per cent at close of 13.0175.
 
Among sectors - the CNX IT index soared 1.8 per cent to 11,810 led by Infosys and TCS. The Realty index zoomed 2 per cent to 214.90. The Metal index surged 1.6 per cent to 2,841 and the Bank Nifty advanced 1.3 per cent to 18,282.
 
The market breadth was once again negative - out of 1,725 stocks traded on the NSE, 861 declined and 683 advanced today.
 
DLF was the major gainer in the Nifty 50 space; the stock rallied 5.5 per cent to Rs 148. Jindal Steel surged 4.5 per cent to Rs 149, and Tata Power jumped over 4 per cent to Rs 91.90.
 
Infosys gained over 3 per cent at a record high of Rs 4,276 after the company fixed December 3, 2014, as the record date for allotment of bonus shares. 
 
Tata Steel and Hindalco were some of the top gainers in the metal segment after China cut interest rates by 40 basis points over the weekend. The People's Bank of China also stated that they are ready for more rate cuts.
 
Zee Entertainment, ICICI Bank and HCL Technologies advanced around 2.5 per cent each to Rs 385, Rs 1,773 and Rs 1,680, respectively.
 
BHEL, Hero MotoCorp, Ambuja Cement, Wipro, IDFC, TCS, HDFC Bank and Cairn India were the other major gainers.
 
On the other hand, Power Grid Corporation slipped 2.5 per cent to Rs 143 after the FII investment limit hit the trigger cap.
 
Cipla and Reliance Industries declined around 1.5 per cent each to Rs 617 and Rs 984, respectively.
 
ACC, Sun Pharma, Sesa Sterlite and Bharti Airtel were the other notable losers.

Friday, November 21, 2014

Markets end at fresh lifetime highs

The Indian equity markets ended at fresh lifetime highs on Friday with the NSE Nifty closing above the 8450 mark convincingly while BSE Sensex above the 28,300 level. Sentiment got a boost after the rupee, which slumped to its lowest level in nine months managed to gain some ground against the US Dollar. The mega merger between Kotak Mahindra Bank and Ing Vysya Bank further buoyed the mood on Dalal Street.
  
The Sensex started the day on a positive note at 28,100, up 32 points from the previous close. Weakness in select index heavyweights - mainly Infosys saw the index pare gains and slip into the negative zone to a low of 28,038 for a brief while.
 
Thereafter, the BSE index rebounded into the positive zone and scaled a new record high at 28,361 - up 322 points from the day's low. The BSE benchmark index finally ended the day with a solid gain of 267 points at 28,335.
 
The NSE Nifty came within striking distance of another phychological mark (8,500) as the index touched a high of 8,490. The Nifty finally ended with a gain of 75 points at 8,477.
 
The broader market, however, ended on a subdued note today. The CNX Midcap index was almost unmoved at 12,246, and the Smallcap index shed 0.8 per cent at 5,222.
 
The market breadth was fairly negative, with 628 declining stocks to 448 advancing shares on the NSE.
 
Unabated buying in banking stocks saw the Bank Nifty also register a record high at 18,140, and settle at 18,065 - up 2.4%. Bank stocks single-handedly won the day for the market. None of the other sectoral indices were up near a per cent each.
 
Banking stocks were the star performers today, with several of them registering new life-time highs, on the back of slew of positive news flow. Kotak Bank merger with ING Vysya Bank triggered a smart rally in select private banking stocks like Federal Bank, Karnataka Bank and Yes Bank which possibly may be next merger candidates.
 
Kotak Bank ended with a solid gain of 3.7 per cent at Rs 1,199 - a new record close. ING Vysya Bank, which, soared to a high of Rs 849, eventually ended 0.5 per cent lower at Rs 813.
 
PSU major - SBI too rallied to record highs and finished with 2.8 per cent higher at Rs 306. Other prominent banking gainers were Federal Bank, Karnataka Bank, Punjab National Bank, Axis Bank, HDFC Bank and Bank of India.
 
Among the other Nifty stocks - BHEL rallied 3 per cent to Rs 253. Hindalco, Ambuja Cement, Reliance Industries, Cairn India, Sesa Sterlite, DLF, Mahindra & Mahindra, ITC and Tata Motors were the other prominent gainers.
 
Cipla was up over a per cent at Rs 626 after the company's European arm tied-up with Serum Institute of India to sell the latter's vaccines in the European market.
 
Infosys, however, had a disappointing output as the recent BPO fiasco weighed on the sentiment at the counter. Reports indicated that the company may conduct similar audit in other BPO outlets. However, the company so far has denied any such action. The stock was down almost 2 per cent at Rs 4,144.
 
Jindal Steel shed 2.5 per cent at Rs 143. Tata Power, Sun Pharma, Tech Mahindra, Hindustan Unilever and HCL Technologies were the other significant losers today.

Thursday, November 20, 2014

Nifty ends above the 8400 mark

Markets ended with modest gains amid a volatile trading session. Indices reversed two day losing streak with the NSE Nifty managing to close above the 8400 mark. 
Even tough benchmark indices managed to stage a smart come back towards the end, majority on the sectoral indices on the BSE including the Mid-Cap and the Small-Cap index ended in the negative terrain. The BSE auto, consumer durables, capital goods, metals, power and realty indices ended in the red. 
Following yesterday's correction, the market started the day on a tentative note as fears of follow-up selling loomed. 
The BSE Sensex jumped to a high of 20,119 (up 86 points) in early deals, but soon wiped out gains and slipped into red. Persistent selling pressure in metal, capital goods, realty and select PSU bank stocks saw the BSE index extend losses and drop to a low of 27,915 in early noon deals - down 204 points from the day's high.
The Nifty too shed 58 points from a high of 8,411 to a low of 8,353. However, renewed buying interest in IT, Pharma on the back of a weaker Rupee coupled with select banking heavyweights, saw the market recoup losses towards the end of the trading day.
The NSE Nifty finally ended the day with a minor gain of 20 points at 8,402. The BSE Sensex also reversed its two-day losing streak and was up 35 points at 28,068.
The broader market ended on a tepid note. The CNX Midcap index was down a wee bit at 12,254, and the Smallcap index slipped 0.5 % to 5,263.
The market breadth also remained negative, with 724 declining stocks for 425 advancing shares on the NSE.
Among the Nifty 50 stocks - Kotak Bank was the top gainer, as the stock scaled a fresh all-time high on rumours of likely merger with ING Vysya Bank. The stock zoomed nearly 7 per cent to Rs 1,151.
Cipla surged nearly 4 per cent to Rs 623, and Tech Mahindra rallied 3.5 per cent to Rs 2,717.
SBI, Cairn India, Wipro, Lupin, TCS, Tata Power, HCL Technologies, Infosys and Asian Paints were up 1-2 per cent each.
Jindal Steel plunged nearly 4 per cent to Rs 146. Zee Entertainment dropped 3.5 per cent to Rs 375, and NMDC shed 3 per cent at Rs 145.
Sesa Sterlite, DLF, NTPC, UltraTech Cement, Larsen & Toubro, Bank of Baroda, IndusInd Bank, IDFC, ACC, Mahindra & Mahindra and Tata Steel were the other major losers.
Telecom stocks witnessed a sharp recovery towards the end of the close amid reports that the telecom ministry has agreed to vacate unimportant telecom spectrum.

Idea Cellular surged 2.5 per cent to Rs 172. Bharti Airtel and Reliance Communication ended on a flat note, recovering all their lost ground.

Wednesday, November 19, 2014

Markets slip into negative zone

Equity markets slipped further extending its losing streak to second consecutive trading session. Market participants preferred to take some money off the table around the all time high levels as FIIs turned sudden net sellers. A large domestic insurance firm is said to have offloaded sizable amount of shares in the midcap space.
The day began on a promising note, with the Sensex and the Nifty registering fresh peaks in early morning trades but the benchmark indices soon pared gains and slipped into the negative zone. 
Barring the Healthcare and IT indices, all the other major sectoral indices on the BSE ended in the red. BSE Metal index was the top loser followed by oil & gas, Power, realty, banking and auto index.
Finally, the Sensex tumbled to a low of 27,964 down 330 points from the day's high. The BSE benchmark index eventually ended the day with a loss of 130 points at 28,033. The NSE Nifty plunged to low of 8,361 and settled with a cut of 44 points at 8,382.
The broader market also changed course in the second half of the trading day. The CNX Midcap and the Smallcap indices had logged gains of nearly a per cent each, but eventually ended with loss of 0.7% and 1% at 12,259 and 5,287, respectively.
The market breadth too turned fairly negative at close. Out of 1,735 stocks traded on the NSE, 986 declined and 555 advanced today.
Gail India, Cairn India, Asian Paints, Sesa Sterlite, BHEL, IDFC, Punjab National Bank, NTPC and Tata Motors were the other significant losers down 2-3% each.
Dr.Reddy's finished as the top gainer of the day, up 2.5% at Rs 3,522. HCL Technologies, Tech Mahindra, Zee Entertainment, DLF, HDFC and Larsen & Toubro were the other major gainers.
JSW Steel, Hindustan Copper, Orissa Mines, SAIL and Jindal Saw Pipes were the other major losers in the Metal space. The CNX Metal index dropped over 2% to 2,815.
The Bank Nifty was down 0.6% at 17,586, while the PSU Bank index was down  1.6% to 3,957. All PSU banking shares ended in the negative territory. Andhra Bank was the major loser down over 4% at Rs 86.25. Allahabad Bank, Oriental Bank of Commerce, Union Bank of India, Bank of India and Canara Bank were down over 3% each.

Sugar stocks also ended the day on a bitter note, with losses in the range of 2-4 per cent. Balrampur Chini, Bajaj Hindusthan, Triveni Engineering, Oudh Sugar, Sakthi Sugar and Shree Renuka Sugar were up 2-5% in the early trade, but eventually ended with losses of around 1-5% each.

Tuesday, November 18, 2014

Nifty ends marginally in the red

After closing at record highs for past two trading sessions, the Indian equity markets saw some profit booking. The Nifty hit fresh life-time high during the day but was unable to hold on to the momentum. 
The Sensex and Nifty recorded a record high at 28,283 and 8,454, respectively.
The IT, realty, oil & gas and the FMCG stocks were among the major losers. However, the Mid-Cap and the Small-Cap index managed to keep up the momentum as they outperformed the benchmark indices. 
The Sensex touched an intra-day low at 28,120 before settling with a minor loss of 14 points at 28,163. The Nifty ended with a loss of five points at 8,426. In intra-day deal, the Nifty touched a low at 8,407 - down 47 points from the record high. The market breadth was positive today. Out of 1,247 stocks traded on the BSE - 672 stocks advanced, while 547 stocks declined.
Among the Sectoral indices the CNX IT index dropped 0.7 per cent. The CNX Realty index was down 0.4 per cent. SBI ended unchanged at Rs 2,940 after rallying in the last three trading sessions.
Shares of RCom shot up over 9% to close at Rs115 after the company announced its quarterly results. Among Nifty losers - HDFC was the top loser - down 2.2 per cent after the government cleared a proposal by HDFC Bank that the stake held by HDFC amounts to overseas investment.
Kotak Mahindra and Hindalco slipped over 2 per cent each. Sun Pharma dropped 1.9 per cent.
ONGC, TCS, Ultratech Cement and HCL Tech were the prominent losers.
Among Nifty gainers - Sesa Sterlite was the top gainer - up 3.5 per cent. IDFC jumped 3 per cent. Larsen & Toubro rallied over 2 per cent.

BHEL, HDFC Bank, Bharti Airtel and Punjab National Bank were the prominent gainers.