Tuesday 5 November 2013

Daily Equity Market Report – November 5, 2013


Shunning the ongoing week-long optimism that led to scaling new highs, Indian markets lost the momentum today and took a U-turn. Profit-booking was seen across all the market-cap segments by the traders. Market also lacked any cues from its global peers and bulls were seen pausing for a breather after a record-breaking impulse.
Both the benchmark indices snapped their five-days ascending streak and remained under pressure throughout the day while participants focused their attention towards mid-cap & small-cap stocks. The 50-share index Nifty slipped down below the 6300 level and closed at 6253.15, down by 64.20 points or -1.02%. It was a volatile session for Nifty as it scaled high of 6304.75 and low of 6244.30 in today's intra-day trades. The Sensex closed the day at 20974.79, down 264.57 points or -1.25%, sliding under the 21000 level.
Mid-cap and small-cap shares seen voluminous trades today and offered a better risk-reward trade off as compared to large-caps which have already run up a fair bit during past week as well as month. IT, health-care and consumption led stocks were the big losers today. These three sectors were the real driving force behind the recent rally, and investors are seen cashing out of these stocks as present valuations seem to be factoring in most of the positives.
Today market was dominated by the sectors closing in red barring a few; i. e. CNX Media (0.96%), CNX PSU Bank (0.42%) and CNX Realty (0.39%). Whereas, on the other hand South-ward slippage was led by CNX FMCG (-2.61%) and equally followed by CNX Pharma (-1.84%), CNX MNC (-1.44%), CNX IT (-1.13%), CNX Consumption (-1.01%), Bank Nifty (-0.99%), CNX Service (-0.88%) and CNX Infra (-0.77%).
Market breadth was seen negative on NSE with 629 stocks advancing against 539 declining and 45 remaining unchanged.
Out of 50 stocks of Nifty, 18 gained while 32 declined.
Top Five Nifty Gainers: BPCL emerged as the top gainer on the Nifty today excelling by 2.47% and followed by NMDC (2.34%), DLF (2.10%), Asian Paints (2.02%) and J P Associates (1.64%).
Top Five Nifty Losers: ITC was the biggest loser on the Nifty plunging by -3.51% and chased by ICICI Bank (-3.29%), Power Grid (-3.20%), Dr. Redyy's (-3.03%) and Sun Pharma (-2.81%).
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Friday 1 November 2013

Daily Equity Market Report – November 1, 2013


The Indian markets are on a record-breaking spree, thanks to FII inflows and not paying much of attention to the negatives in sight. It seems that FIIs and investors in general don't want to miss any rally in India; so when the news of the pullback of Fed tapering came in, the stakeholders thought that emerging markets, specifically India, have got an opportunity to get their house in order and hence joined the Diwali euphoria on Dalal Street.
Both the benchmark indices continued their festive mood extended throughout the week when the S&P BSE Sensex, after breaking the all-time closing high, today breached the highest ever intra-day level. The Sensex closed the day 32.29 points up at 21196.81 after scaling the new intra-day high of 21293.88 by surpassing the previous intra-day peak of 21206.77, set on January 10, 2008.
The broad-based index Nifty also breached and sustained the 6300 level and closed at 6307.20, up 8.05 points. Nifty registered an all-time high of 6357.10 on January 8, 2008, and a record close of 6312.45 on November 5, 2010. Though both the benchmark indices started the day on a positive note surging by approx. 0.50% but eventually ended flat.
Markets ended the week and the Samvat 2069 on a cheerful note and will enter the next Samvat on high adrenaline as most of the analysts have attributed the current rally to liquidity as FIIs have pumped in nearly $3.5 billion into Indian stocks ever since the US Fed delayed tapering of its monetary stimulus at a meeting on 18 September.
Like yesterday, today's market also was driven by the rate sensitives with CNX PSU Bank (4.65%) gaining the most by leading from the front and followed by CNX Realty (2.79%), CNX Media (1.40%), Bank Nifty (1.36%), CNX Auto (1.26%), CNX Metal (1.20%) and CNX Finance (1.18%). On the other hand, CNX FMCG was the biggest loser among all sectoral indices plunging by -1.31% and chased by CNX Energy (-0.87%), CNX IT (-0.60%) and CNX PSE (-0.31%).
Market breadth remained positive throughout the day on NSE with 771 stocks advancing against 401 declining and 53 remaining unchanged.
Whereas, out of 50 stocks of Nifty, 30 gained while 20 declined.
Top Five Nifty Gainers: IDFC was the biggest gainer on the Nifty today surging by 6.48% and followed by PNB (4.79%), Bank of Baroda (4.59%), State Bank of India (4.35%) and Mahindra & Mahindra (4.30%).
Top Five Nifty Losers: Power Grid loses the most on the Nifty today plunging by -3.41% and chased by ONGC (-2.01%), NTPC (-1.95%), ITC (-1.85%) and Infosys (-1.15%).
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Thursday 31 October 2013

Daily Equity Market Report – October 31, 2013

Indian stock markets celebrated Diwali much earlier than the auspicious day by marking record closing highs as the bull run continued on Dalal-Street. Its celebration time already on D-Street as euphoric investors pulled the market up at five-year high. Both the benchmark indices started the day on very cautious note and traded within a tight range for most of the day before seeing some volatility in last few hours just ahead of expiry of the ongoing series of F&O contracts.
The 50-share index Nifty closed at 6299.15, up by 47.45 points or 0.76%, before hitting an intra-day high of 6309.05. Nifty hits 6300 for the first time since November 10, 2010 and now 57.95 points away from its lifetime intra-day high. The Sensex also ended the day by marking all-time closing high by summing up at 21164.52, up 130.55 points or 0.62. The lifetime intra-day high for Sensex is 21206.77; while the same for Nifty is 6357.10. The market turnover swelled to over 5 lakh crore for the first time ever today.
Earlier today, the markets started with some uncertainty and witnessed bouts of profit-booking, as the US Federal Reserve yesterday indicated that QE3 could taper sooner than expected. This news came as a surprise to the markets as most analysts and participants were of consensus that the Fed is unlikely to begin tapering until March 2014. But shunning all the worries market entered in the festive mood with record turnover never seen before.
Except yesterday's star performer CNX Pharma that plunged by -1.44% today, all the sectoral indices closed in the positive. Today's momentum was led by rate sensitives that failed yesterday, and that too with CNX PSU Bank, emerging as the biggest gainer by 7.40% and also followed by Bank Nifty (1.99%), CNX Metal (1.73%), CNX Energy (1.55%), CNX PSE (1.37%), CNX Finance (1.30%), CNX Infra (1.19%), CNX Service (1.14%) and CNX Commodities (1.07%).
Market breadth remained positive today on NSE as 636 stocks advance against 515 decline while 67 remaining unchanged.
Out of 50 stocks of Nifty, 35 advanced while 15 declined.
Top Five Nifty Gainers: Bank of Baroda topped the Nifty Gainers chart today by registering 10.98% gain and followed by PNB (9.44%), State Bank of India (4.35%), J P Associates (4.14%) and IDFC (3.46%).
Top Five Nifty Losers: Dr. Reddys loses the most today and fell by -3.49% also chased down by Ambuja Cement (-2.80%), Sun Pharma (-1.71%), Lupin (-1.68%) and Ranbaxy (-1.31%).
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Wednesday 30 October 2013

Daily Equity Market Report – October 30, 2013

India Inc. today accepted the central bank’s tough measures as a Dipawali gift despite the hike in repo rate and went on buying spree across broad-based stocks. Both the benchmark indices, Sensex and Nifty, almost paired all the losses incurred in the few previous trading sessions since last week. Nifty surged higher to close above intermediate resistance level of 6200 as sentiment turned bullish after the RBI hiked repo rate. The 50-share index ended at 6220.90, up 119.80 points or 1.96% after touching intra-day high of 6228.05 and a low of 6079.20. While, the S&P BSE Sensex closed at 20929.01, up 358.73 points or 1.74% and touched a high of 20952.55, just 75 points away from all-time closing high, and an intraday low of 20,493.66.
Sentiments in the market turned bullish today after the RBI, in the second quarter monetary policy review, hiked repo rate by 25 basis points to 7.75% and cut marginal standing facility rate by 25 basis points to 8.75% with immediate effect, which was in-line with economists' expectations. Addressing the key issue of liquidity for India Inc, RBI doubled the borrowing limit of banks against their cash positions or NDTL to 0.5% for both 7-day and 14-day repos, with immediate effect to increase liquidity in the system. With these changes, the RBI has calibrated the window between the repo rate (7.75%) and MSF (8.75%) to 100 basis points (1%), as stated in the September 20 mid-quarter review.
It was the measures taken on the front of liquidity in the markets in form of MSF and short-term borrowing limit of the banks that bolstered the optimism among the participants. Though RBI also reduced the growth forecast for the current fiscal to 5% from 5.5% projected earlier.
All the sectoral indices today joined the party on NSE and Bank Nifty emerged as the biggest gainer surging by 4.35% and followed by CNX PSU Bank (3.87%), CNX Finance (3.74%), CNX Realty (2.71%), CNX MNC (2.65%), CNX Auto (2.36%), CNX Service (2.31%), CNX Metal (2.25%) and CNX Commodities (2.04%).
Market breadth was positive on the NSE as 677 stocks advances against 481 declines and 58 remained unchanged.
Out of 50 stocks of Nifty, 47 stocks gained while 3 declined.
Top Five Nifty Gainers: Maruti led the Nifty Gainers list and excelled by 8.75% and accompanied by J P Associates (7.76%), ICICI Bank (6.26%), IndusInd Bank (5.63%) and Axis Bank (5.16%).
Top Five Nifty Losers: Today only three stocks on the Nifty closed in red with Ranbaxy plunging the most by -0.90% and chased by ITC (-0.29%) and Bharti Airtel (-0.13%).

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Tuesday 29 October 2013

Daily Equity Market Report – October 29, 2013

India Inc. today accepted the central bank’s tough measures as a Dipawali gift despite the hike in repo rate and went on buying spree across broad-based stocks. Both the benchmark indices, Sensex and Nifty, almost paired all the losses incurred in the few previous trading sessions since last week. Nifty surged higher to close above intermediate resistance level of 6200 as sentiment turned bullish after the RBI hiked repo rate. The 50-share index ended at 6220.90, up 119.80 points or 1.96% after touching intra-day high of 6228.05 and a low of 6079.20. While, the S&P BSE Sensex closed at 20929.01, up 358.73 points or 1.74% and touched a high of 20952.55, just 75 points away from all-time closing high, and an intraday low of 20,493.66.

Sentiments in the market turned bullish today after the RBI, in the second quarter monetary policy review, hiked repo rate by 25 basis points to 7.75% and cut marginal standing facility rate by 25 basis points to 8.75% with immediate effect, which was in-line with economists' expectations. Addressing the key issue of liquidity for India Inc, RBI doubled the borrowing limit of banks against their cash positions or NDTL to 0.5% for both 7-day and 14-day repos, with immediate effect to increase liquidity in the system. With these changes, the RBI has calibrated the window between the repo rate (7.75%) and MSF (8.75%) to 100 basis points (1%), as stated in the September 20 mid-quarter review.

It was the measures taken on the front of liquidity in the markets in form of MSF and short-term borrowing limit of the banks that bolstered the optimism among the participants. Though RBI also reduced the growth forecast for the current fiscal to 5% from 5.5% projected earlier.

All the sectoral indices today joined the party on NSE and Bank Nifty emerged as the biggest gainer surging by 4.35% and followed by CNX PSU Bank (3.87%), CNX Finance (3.74%), CNX Realty (2.71%), CNX MNC (2.65%), CNX Auto (2.36%), CNX Service (2.31%), CNX Metal (2.25%) and CNX Commodities (2.04%).

Market breadth was positive on the NSE as 677 stocks advances against 481 declines and 58 remained unchanged.

Out of 50 stocks of Nifty, 47 stocks gained while 3 declined.

Top Five Nifty Gainers: Maruti led the Nifty Gainers list and excelled by 8.75% and accompanied by J P Associates (7.76%), ICICI Bank (6.26%), IndusInd Bank (5.63%) and Axis Bank (5.16%).

Top Five Nifty Losers: Today only three stocks on the Nifty closed in red with Ranbaxy plunging the most by -0.90% and chased by ITC (-0.29%) and Bharti Airtel (-0.13%).

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Monday 28 October 2013

Daily Equity Market Report – October 28, 2013

Continuing the last week’s despair, market today started the F&O expiry week on a negative note ahead of RBI's second quarter monetary policy review slated for tomorrow. Today’s fall was the fifth straight fall for the benchmark indices back to back as investors largely remained cautious ahead of the RBI police meet. Though the broad-based index Nifty failed to hold above the 6150 level and remained below throughout the day after sliding down in very first hour of trade, but still managed to end the day above another key mark of 6100 by closing at 6101.10, down by -0.71% or 43.80 points. Sensex also plunged by 113.24 points and wrapped up the session at 20570.28, down -0.55%.

Amid this continuing five day downtrend, today volatility was also high as market participants seemed direction-less on whether to roll over their positions in the F&O segment as contracts are in the cusp of expiry. As per analysts, participants in the market are largely expecting a repo rate hike as RBI governor Raghuram Rajan's focus remains to be inflation. Today’s closing levels of the indices mark its lowest close in nearly one and a half weeks, as lenders and other interest rate-sensitive shares declined ahead of the central bank's monetary policy review on Tuesday.

All the sectoral indices faced the heat of uncertainty hovering over monetary policy review and ventured in red zone except CNX Energy which inched marginally higher (0.03%) than the previous close. Among the losers, CNX PSU Bank led the southward journey by plunging -2.98% and chased by CNX FMCG (-2.57%), CNX Realty (-2.38%), CNX Media (-1.76%), CNX Metal (-1.56%), CNX Consumption (-1.27%), CNX MNC (-1.14%), Bank Nifty (-1.13%) and CNX Pharma (-1.01%).

Market breadth remained negative today as 390 stocks on NSE rose against 773 declined while 49 remained unchanged.

Out of 50 stocks of Nifty index, 13 advanced against 37 declined.

Top Five Nifty Gainers: Larsen & Toubro topped the Nifty Gainers chart and registered 1.89% gain and joined-in by ONGC (1.51%), HDFC (1.49%), Wipro (0.56%) and Kotak Bank (0.51%).

Top Five Nifty Losers: J P Associates shed the most on Nifty losers list falling by -5.36% and followed by Bank of Baroda (-4.42%), ITC (-3.93%), PNB (-3.74%) and SSLT (-3.63%).

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Friday 25 October 2013

Daily Equity Market Report – October 25, 2013

Indian stock markets, today, shied away from the ongoing northward momentum on the back of profit booking at current levels and weak cues from the global markets. Both the benchmark indices remained very volatile despite being range-bound through most of the day. The broad-based index Nifty failed to hold the ground and ended the week below the key psychological mark of 6150 at 6144.90, down by 19.45 points, or -0.32%. Sensex also retreated after touching the 21000 mark yesterday in intra-day trades and ended the day at the lowest level of the current week at 20683.52, down by 41.91 points or -0.20%.

The market apprehended for weak closing for the current week as it saw a bit of profit booking after rising for more than 5% in previous three weeks. Major indices broke out of their trading range on the lower side towards the end of trade and closed near day's low on profit booking taking cues from weak global markets.

As per market experts, however, current consolidation of benchmark indices in the narrow range seen in the past few trading sessions is more of profit-booking by traders, while the long-term trend remaining intact. Considering the fact that the momentum is clearly on the side of the bulls, further rally is expected purely on the back of global liquidity as not much has changed when it comes to the dynamics of the Indian economy.

All the sectoral indices, except CNX IT (1.51%), CNX Media (1.00%) and CNX Service (0.35%), plunged below their respective previous closes led by the consumption and infrastructure stocks. CNX Realty shed the most falling by -2.33% and chased by CNX Infra (-1.47%), CNX Metal (-1.31%), CNX Auto (-1.09%), CNX Consumption (-1.02%) and CNX FMCG & CNX Pharma (both -0.92%).

Market breadth remained one-sided negative on the NSE with 390 gainers against 780 losers and 51 remaining unchanged.

Out of 50 stocks of Nifty, 14 stocks advanced while 36 stocks declined.

Top 5 Nifty Gainers: TCS topped the Nifty Gainers chart by gaining 2.80% and followed by HCL Technologies (2.48%), Wipro (2.37%), NTPC (1.54%) and SSLT (1.33%).

Top 5 Nifty Losers: While on the Nifty Losers list, Hindalco seized the top spot plunging by -4.93% and followed by DLF (-4.83%), NMDC (-3.68%), Cairn India (-3.53%) and Tata Steel (-3.10%).

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Wednesday 23 October 2013

Daily Equity Market Report – October 23, 2013

Markets, after opening the day on higher note, failed to uphold the momentum and slipped below the previous close and other nearing psychological levels. After witnessing the game of tug-of-war at 6200 level, spread over two straight volatile trading sessions, the broad-based index S&P CNX Nifty once seen losing approx. 1.30% during most of the day; but nonetheless retrieved the major chunk of the losses and managed to stay above another psychological mark of 6150 before closing on a negative note at 6178.35, down by 24.45 points. Another benchmark index, Sensex closed at 20767.88, down by 97.09 points after recovering from losing 275.25 points in intra-day trades.

The market remained under pressure with the equity benchmarks falling substantially, weighed down by profit booking in heavyweights. As per technical analysts, market is showing signs of weakness and hence traders are behaving cautiously and booking profits instead of adding to their existing positions. Though the view on the street is that indices are poised to make a new high shortly, yet the rally could end badly as corporate earnings continue to disappoint. Coming ahead, the major macro event, from where the markets may pick their next cue, is the RBI’s policy meet on October 29.

Sectoral indices largely remained negative barring a few with CNX PSU Bank leading the gainers on the NSE by advancing 2.69% and joined in by Bank Nifty (0.66%) and CNX Media (0.42%). Whereas, CNX Realty plunged the most by losing -1.32% and followed by CNX Energy (-1.00%), CNX IT (-0.96%), CNX Commodities (-0.94%), CNX Pharma (-0.86%), CNX PSE (-0.81%) and CNX Auto (-0.79%).

Market breadth on the NSE ended on negative with 553 gainers against 616 losers with 54 remaining unchanged.

Out of 50 stocks of Nifty, 16 advanced and 33 declined and 1 remained without any change.

Top Five Nifty Gainers: Bank of Baroda topped the Nifty gainers chart today gaining by 5.21% and followed by GAIL (3.92%), Cipla (2.73%), State Bank of India (2.45%) and ACC Cement (2.09%).
Top Five Nifty Losers: Today Wipro emerged the biggest loser on the Nifty plunging by -4.60% and chased by Cairn India (-3.80%), DLF (-3.14%), Sun Pharma (-2.99%) and NTPC (-2.25%).

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Tuesday 22 October 2013

Daily Equity Market Report – October 22, 2013

Indian markets were seen again in a lackluster mood today and traded in a very tight range despite broader market being positive. Where, small-cap stocks outperformed the market with a gain of over 1% from the previous close, benchmark indices were marginally under pressure amid choppy trades on the back of profit booking in heavyweights. S&P CNX Nifty, the 50-share broad-based index, managed to hold the level of 6200 and end the day at flat-to-negative note by closing at 6202.80, down -2.15 points. While S&P BSE Sensex tried very hard to touch the psychological level of 21000 in early hours of the trade but failed again and ended the day at 20864.97, down by 28.92 points.

Overall Indian market seemed to be in deep slumber as trading was muted today. European markets also opened and traded lower as investors were cautious ahead of US job data, which was delayed due to the partial US government shutdown. As per market experts, corporate earnings so far in this season has been positive amid weak economic environment and the market is largely supported by foreign money by long-term investors who see opportunity due to the weak Rupee.

In the midst of broader market outperforming the benchmark indices on the NSE, CNX Infra among the sectoral indices led the gainers by 0.97% and followed by CNX PSE (0.76%) and CNX IT (0.68%). On the other hand, CNX Realty loses the most by falling -0.67% and chased by CNX Auto (-0.45%), CNX Finance (-0.26%) and CNX FMCG (-0.25%).

Market breadth was positive on the NSE as 778 stocks advanced against 404 declined and 42 remained unchanged.

Out of 50 stocks of Nifty, 24 registered gain while 25 declined and 1 remaining unchanged.

Top Five Nifty Gainers: Tata Power led the Nifty Gainers chart and excelled by 2.75% followed by HCL Technologies (2.72%), Power Grid (2.46%), Axis Bank (2.05%) and GAIL (2.03%).

Top Five Nifty Losers: Hindalco also topped the chart, but in the Nifty Losers category and fell by -1.82% and accompanied by Ranbaxy (-1.45%), Hero Moto Corp. and Mahindra & Mahindra (both -1.42%) and DLF (-1.20%).

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Monday 21 October 2013

Daily Equity Market Report – October 21, 2013

Indian stock markets closed the day on flat note today amid volatile session despite supported by a flush of global liquidity and positive signs in the markets across the globe. World over, the markets are on a high; and Indian benchmark indices are also venturing very close to their all-time highs in recent trading sessions. Both the benchmark indices managed to end the day above their respective previous close levels in the midst of a volatile session, seen as high as approx 5%.

Nifty breached the psychological level of 6200 in the early hours of trade and with the same haste fell below the mark; but in the end, unlike Friday, somehow managed to close above the level by closing at 6204.95, up by 15.60 points. Sensex also struggled to touch the 21000 mark but lost the momentum and closed inches above the previous close at 20893.89, up 11.00 points.

Today, Australian markets hit their five-year highs, and Asian markets also were seen at five-month highs. The pan-European FTSEurofirst 300 index was seen edging up to a new five-year high and the Wall Street was at a record peak. The Indian markets are also running high on foreign money, with FIIs having poured in around $15 billion so far this year.

Bank stocks are becoming the main drivers of Indian shares, with the NSE Bank index up 11.8% in October as of Friday's close compared with a 7.7% rise in the broader NSE index, marking it as a second consecutive month of gains of 6.3% in September. Also, technology stocks have rallied vertical so far in the year 2013. The NSE IT Index has gained over 8% so far this month, although the sub-index is still up 46.2% for the year compared with the 13.5% fall for banks.

All the sectoral indices pursued the northward momentum of the market barring a few; namely CNX FMCG (-1.39%) and CNX IT (0.44%). Among the gainers, CNX Media led the charge by registering 3.41% and followed by CNX Realty (3.10%), CNX Infra (1.93%), CNX Metal (1.84%), CNX PSU Bank (1.24%) and CNX MNC (1.15%).

Market breadth remained positive on NSE with 764 stocks advancing as against 393 decline with 62 remaining unchanged.

Out of 50 stocks of Nifty, 36 stocks advanced against 14 declined.

Top 5 Nifty gainers: Asian Paints led the gainers chart on Nifty today gaining the most (8.81%) and joined in by Larsen & Toubro (6.20%), DLF (5.94%), IDFC (4.82%) and Maruti Suzuki (3.55%).

Top 5 Nifty losers: Among the Nifty losers, Jindal Steel topped the chart falling by -3.54% and followed by ITC (-2.67%), TCS (-2.07%), HCL Technologies (-1.68%) and BHEL (-1.52%).

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Friday 18 October 2013

Daily Equity Market Report – October 18, 2013

Indian markets today shunned off their worries, ranging from fear of QE tapering to domestic fiscal sickness, and glittered throughout the trading session before ending the week in high spirits. Both the benchmark indices, Sensex and Nifty, kicked-off the day on a positive note with opening approx. 0.5% over the previous close and very soon scaled the heights before closing 2.29% and 2.37% up respectively. Broad-based index Nifty breached the 6200 level and touched the intra-day high of 6201.45 before closing at 6189.35, up by 143.50 points, close to year high. Sensex also traveled towards 21000 level but stopped way below making intra-day high of 20926.82 and closed at 20882.89, up by 467.38 points, marking its highest close since November 2010.

Markets said good riddance today to the prevailing worries over previous two sessions and tracked down the global markets which rose to a five-year high on expectations that the Federal Reserve will keep its stimulus in place for longer following the confidence-sapping U.S. fiscal impasse. China's GDP number also bolstered the markets as their economy in the third quarter grew 7.8%, at the fastest pace in the year. And finally, FIIs also played the key role in this surging spree as they bought 11.09 billion Rupees ($181 million) worth of Indian shares on Thursday, a tenth consecutive session of purchases that made them net buyer in the markets totaling to 78.47 billion Rupees ($1.28 billion).

All the sectoral indices enjoyed the jubilant mood today with rate-sensitives and metals leading from the front. Bank Nifty hold the baton and marched ahead of all gaining by 3.95% and cheerfully chased by CNX Finance (3.54%), CNX Metal (3.34%), CNX Realty (3.04%), CNX PSU Bank (2.73%) and CNX Service (2.51%).

Market breadth on the NSE remained one-sided positive all along the day with 727 gainers against 437 losers and 65 closing without any change.

Out of 50 stocks of Nifty, 49 advanced and 1 declined.

Top Five Nifty gainers: Among Nifty stocks, IndusInd Bank gained the most and closed 6.39% up and followed by Tata Steel (6.09%), SSLT (5.97%), Axis Bank (5.55%) and J P Associates (5.14%).

Top Five Nifty Losers: Only one stock end up losing on Nifty today, as Bajaj Auto closed -0.02% lower than the previous close.

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Thursday 17 October 2013

Daily Equity Market Report – October 17, 2013

Indian markets, continuing their losing streak on second straight trading session, remain choppy throughout the day despite global markets cheering up the end of the US debt ceiling impasse. Both the benchmark indices, Sensex and Nifty remained directionless till the noon and plunged sharply in last two hours of the trade. Broad-based index Nifty breached the resistance level of 6100 in intra-day trades but lack of solidarity pulled it in negative zone and end the day at 6045.85, down by 43.20 points or -0.71% while Sensex fell by 132.11 points before closing at 20415.51.

Global markets were upbeat after the US congress passed the debt limit Bill to end the two week long government shutdown. It was on much expected lines that the deal was clinched at the 11th hour to end the debt ceiling impasse which had kept markets nervous for some time. US markets were quick to react as Dow gained 1.4%, S&P 1.4% and Nasdaq 1.2% when the news came in. When the Asian markets opened, the reaction was the same. Australia to Japan, indices were at levels not seen in several weeks now and most Asian markets also were up around 0.5%. Even MSCI's broadest index of Asia-Pacific shares outside Japan hit a fresh five-month high.

Despite the peers, across the globe, performing well today, Indian markets refused to get prompted by the big news and witnessed negative sentiments primarily on concerns of World Bank’s diminishing growth outlook for India and looming fiscal uncertainties. In its biannual update of the India Development Report, the World Bank cited negative business sentiment and higher interest rates as the reasons for the weakening outlook. As per the latest figures, India will grow at 4.7% in the current fiscal year (FY14) that is in sharp contrast to the bank's earlier projection of 6.1%.

Among sectoral indices, CNX Media led the gainers on the NSE by registering 1.51% growth today and joined-in by CNX FMCG (1.01%), CNX Energy (0.90%) and CNX Consumption (0.56%). On the other hand, CNX IT took most of the beating after exhibiting good quarterly results and plunged by -3.54% and followed by CNX Service (-1.54%), CNX Auto & CNX PSU Bank (both -1.20%) and CNX Realty (-1.14%).

Market breadth remained negative on NSE with 537 gainers against 626 losers and 58 stocks closed unchanged.

Out of 50 stocks of Nifty, 18 advanced and 32 declined.

Top Five Nifty Gainers: J P Associates led the Nifty Gainers chart and excelled by 6.11% followed by Bharti Airtel (2.92%), ONGC (2.27%), ITC (1.76%) and BPCL (1.49%).

Top Five Nifty Losers: HCL Technologies emerged as the biggest loser on the Nifty, falling by -7.09% and chased by TCS (-5.25%), IndusInd Bank (-4.66%), Larsen & Toubro (-4.11%) and Tata Motors (-3.82%).

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Tuesday 15 October 2013

Daily Equity Market Report – October 15, 2013

Indian stock markets, today, snapped their five-day winning streak after touching intra-day high on profit booking, with both the benchmark indices closing below the respective psychological levels. In very first hour of the trade, market shed their early gains and slipped in red below previous close and remained therein for the rest of the day with a bit volatility. Nifty failed to hold the ground above key psychological mark of 6100 and end the day down by 23.65 points, or -0.39% by closing at 6089.05. Sensex also retreated from a nearly three-year high hit earlier in the session and closed at 20547.62 down by 59.92 points or -0.29%.

Investors seemed to have turned cautious as blue chip stocks declined ahead of the Oct. 17 deadline to lift the U.S. debt ceiling. Also, financials were the main laggards in today's trade as fears loomed of another repo rate hike in RBI’s second quarter monetary policy on October 29 and rising non-performing assets. Lenders declined after data showing higher-than-expected headline and retail inflation released on Monday that weighed heavily on the banking stocks.

Beating market expectations, India's number one IT services exporter TCS reported a Profit After Tax (PAT) of Rs. 4702 crore vs. Rs. 3796.2 crore in Q1, rising by 24.7% on quarterly basis. The dollar revenues for Q2 were reported at $3.33 billion vs. $3.16 billion and sales stood at Rs. 20,980 crore vs. Rs. 17,987 crore Q-o-Q. As per analysts, a robust performance by the company in the past three years compared to peers, the benefit of weakening rupee given its high proportion of export revenue and lack of avenues for investors due to abysmal growth in the domestic economy have contributed in historic performance by the company.

All the sectoral indices, except CNX Metal (0.73%), CNX IT (0.65%) and CNX MNC (0.02%), plunged below their respective previous closes led by the financials. CNX PSU Bank shed the most falling by -3.11% and chased by Bank Nifty (-2.59%), CNX Finance (-1.72%) and CNX Realty (-1.58%).

Market breadth remained one-sided negative on the NSE with 364 gainers against 811 losers and 49 remaining unchanged.

Out of 50 stocks of Nifty, 14 stocks advanced while 35 stocks declined with 1 remaining unchanged.

Top 5 Nifty gainers: J P Associates topped the Nifty Gainers chart by gaining 4.78% and followed by Tata Steel (3.05%), Wipro (1.77%), Hindalco (1.72%) and Asian Paints (1.66%).

Top 5 Nifty losers: While on the Nifty Losers list, IndusInd Bank seized the top spot plunging by -4.91% and followed by PNB (-3.93%), IDFC (-3.84%), Bank of Baroda (-3.80%) and HDFC Bank (-2.91%).

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Monday 14 October 2013

Daily Equity Market Report – October 14, 2013

Indian stock market held on to their last week’s closing levels following the better corporate earnings in ongoing reporting season kicked-off by IT major Infosys last week. Both the benchmark indices witnessed somewhat volatile but a range-bound session. Markets are marking their highest close in nearly one month and showing optimism ahead of result announcement by some heavyweights including TCS and Reliance Industries. The broad-based index Nifty hardly moved beyond 30-points trading range and rose by just 16.50 points and closed at 6112.70 up 0.27%, while Sensex, zooming about 78.95 points wrapped up the session at 20607.54 up 0.38%.

50-share index Nifty held the crucial level of 6100 throughout the day after successfully managing to cross the level in early trades. Analysts are pretty optimist that some good earnings reported by corporates in the ongoing session can provide the boosters to the markets and Nifty may see the new life-time high. On the other hand, uncertainty about the monetary policy could constrain further gains in shares, while any disappointment in earnings could also spark a pullback.

Markets expected to be influenced by companies reporting July-September earnings, including Reliance Industries which gained 0.8% ahead of its quarterly results later in the day, and TCS & HDFC Bank Ltd. on Tuesday. TCS ended up 4.3% after marking its all-time high of Rs. 2225 and became the most valued Indian company with a market cap of Rs. 4.3 lakh crore. Expectations are high that TCS will outperform the sector when it will announce its Q2 results on Tuesday.

Most of the sectoral indices ended below the previous close level today, but not very significantly as the indices closing in green terrain made the substantial gains. CNX IT was spotted far ahead of others indicating the mood and carrying the market alone by gaining 2.16% and followed by CNX PSU Bank (0.78%), CNX Service (0.76%) and Bank Nifty (0.41%). CNX Metal experience the bad day, most among the losers, as fell by -0.75% and chased by CNX FMCG (-0.65%), CNX Consumption (-0.44%) and CNX MNC (-0.43%).

Market breadth remained positive at the close today as 614 stocks rose against 553 declined while 54 remained unchanged.

Out of 50 stocks of Nifty, 23 advanced and 26 declined with 1 remaining unchanged.

Top Five Nifty gainers: TCS led the Nifty Gainers list and registered 4.55% gain followed Ambuja Cement (2.77%), Wipro (2.41%), ACC (2.27%) and Bank of Baroda (1.63%).

Top Five Nifty Losers: Hindalco was the biggest loser and fell by -3.24% followed by Asian Paints (-3.02%), GAIL (-2.14%), Cipla (-2.06%) and Tata Steel (-1.96%).

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Friday 11 October 2013

Daily Equity Market Report – October 11, 2013

Indian stock markets, boosted by the IT major Infosys’ quarterly results and positive sentiments cued from global and Asian markets, closed the week on a firm footing as broader market index S&P CNX Nifty hit 6100 intra-day level. Both the benchmark indices opened the session on a positive note and continued the momentum throughout the day. Nifty though breached the 6100 level but could not maintain the gain and closed inched lower from the level at 6096.20, up by 75.25 points (1.25%), while Sensex registered gain of 255.68 points and closed at 20528.59, up by 1.26% to the previous close.
It has been a spectacular rally fuelled by Infosys September quarter earnings and led by realty, technology and banking stocks while metals, FMCG and pharmaceuticals slipped in the red. However, some analysts had their apprehension as well, because it has been observed that for the last four reporting seasons, market tends to go up initially when the results season start and then fall after that. Now market is entering the resistance zone of 6100-6200, so it may consolidate here also.

Infosys has upped its FY14 sales guidance to 9-10% from 6-10% in previous quarter. The company reported a net profit of Rs. 2,407 crore for quarter ended September 2013 as compared to a net profit of Rs. 2,374 crore in last quarter. Its consolidated revenues in dollar terms increased 3.76% to $2,066 million vs. $1,991 million. Revenues in rupee terms increased to Rs. 12,965 crore, up 15.07%, as against Rs. 11,267 crore in previous quarter. Shares of Infosys closed at highest level since April 2011 as the stock closed at Rs. 3,274.50, up Rs. 146.90, or 4.82% on the NSE.

Most of the sectoral indices pursued the northward momentum except a few; namely, CNX Metal (-1.43%), CNX Pharma (-1.16%), CNX FMCG (-0.90%) and CNX Commodities (-0.89%). But the Bank Nifty ride the stronger momentum from the front and gained by 3.24% and also chased by CNX IT (3.10%), CNX Realty (2.83%), CNX Service (2.26%), CNX Finance (2.22%), CNX PSU Bank (1.96%) and CNX Auto (1.86%).

Market breadth remained in positive terrain with 629 stocks advancing as against 535 stocks decline on NSE with 67 remaining unchanged.

Out of 50 stocks of Nifty, 27 stocks advanced against 23 declined.

Top 5 Nifty gainers: ICICI Bank led the gainers chart on Nifty today gaining the most (5.37%) and joined in by Bank of Baroda (4.94%), Infosys (4.82%), Larsen & Toubro (4.64%) and HCL Technologies (3.52%).

Top 5 Nifty losers: Coal India topped the Nifty losers list falling by -4.03% and followed by Hindalco (-2.82%), NTPC (-2.77%), Tata Power (-2.63%) and Sun Pharma (-2.30%).

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Thursday 10 October 2013

Daily Equity Market Report – October 10, 2013

Indian markets traded today in a very choppy manner and with cautious outlook ahead of industrial output (IIP) data and kick-off of July-Sep quarter earnings season by IT major Infosys, to be declared on Friday. Both the benchmark indices witnessed volatile but range-bound trading session closing in green. S&P CNX Nifty, the 50-share broad-based index, hold the level of 6000 amid choppy trades and closed at 6020.95, up by 13.50 points while S&P BSE Sensex ended the day at 20272.91, up by 23.65 points.

Today was the very subdued day as investors looked a bit cautious ahead of the quarterly results of country's second largest software services exporter. As per the experts, the quarter gone by should be very strong for all technology companies led by combination of improving demand, seasonal strength and significant rupee weakness. The street is expecting the IT major to report dollar-revenue growth guidance of 8-10%.

Though broader market perform better than benchmark indices, as among the sectoral indices, only Bank Nifty (-0.45%), CNX Finance (-0.21%) and CNX FMCG & CNX Media (both -0.03%) ended on losing side on NSE. While CNX Auto clearly enjoyed leading the Northward stint by gaining 1.82% and chased by CNX PSU Bank (0.86%), CNX Metal (0.58%), CNX Realty (0.53%) and CNX IT (0.46%).

Market breadth ended on positive side on the NSE as 696 stocks advanced against 467 declined and 70 remained unchanged.

Out of 50 stocks of Nifty, 29 registered gain while 20 declined and 1 remaining unchanged.

Top Five Nifty Gainers: Tata Motors led the Nifty Gainers chart and excelled by 5.55% followed by Ranbaxy (3.32%), NMDC (3.30%), Lupin (2.68%) and Grasim (2.07%).

Top Five Nifty Losers: Tata Power, another from the prestigious conglomerate group, topped the chart, but this time the Nifty Losers and fell by -2.74% and accompanied by Hindalco (-2.38%), Kotak Bank (-1.63%), Hindustan Unilever (-1.48%) and Bajaj Auto (-1.48%).

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Wednesday 9 October 2013

Daily Equity Market Report – October 9, 2013

Indian equity markets along with the other Asian markets extended their gains after a gap-down opening session reacting to the news of Janet Yellen officially being nominated as the next Fed chairperson. Markets were also cautious in the early trades ahead of trade deficit data for the month of September, but once the data shows the contracting deficit, markets went in buoyant mode and registered healthy gains. Nifty gained by 79.05 points and closed at 6007.45 up 1.33%, while Sensex, zooming by 265.65 points wrapped up the session at 20249.26 up 1.33%, same as Nifty.

Nifty hit fresh intraday high and breached important resistance of 6000 as investors turned bullish following the better-than-expected trade deficit data. India's trade deficit in September narrowed to $6.76 billion vs. $10.9 billion in August at 30 months low. It was lower than estimates of $9-10 billion. Exports grew at $27.68 billion vs. $26.1 billion, up 6%, M-o-M, while imports declined to $34.44 billion vs. $37.05 billion, down 7.1%, M-o-M. Oil imports were down 5.9% while gold and silver import was at USD 0.8 billion (Y-o-Y) in September.

All the sectoral indices except the CNX MNC (-0.09%) ended the day in the green terrain today. CNX Realty carried the marching baton and gained by 4.62% and followed by CNX Pharma and Bank Nifty, both (1.91%), CNX Finance (1.76%), CNX Service (1.58%), CNX IT (1.53%), CNX Infra (1.47%) and CNX Energy (1.34%).

Market breadth remained completely one-sided today in positive zone as 774 stocks rose against 391 declined while 70 remained unchanged.

Out of 50 stocks of Nifty, 40 advanced and 10 declined.

Top Five Nifty gainers: DLF topped the Nifty Gainers chart and registered 5.98% gain followed by Sun Pharma (5.73%), J P Associates (4.35%), Kotak Bank (4.02%) and IDFC (3.52%).

Top Five Nifty Losers: Wipro was the biggest loser and fell by -1.54% together with M&M (-1.41%), Sesa Sterlite (-1.02%), Cairn India (-0.68%) and BPCL (-0.60%).

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Tuesday 8 October 2013

Daily Equity Market Report – October 8, 2013

Indian benchmark indices, Sensex and Nifty both started the day in a very cheerful mood with opening approx. 1% over the previous close but soon followed the path of remorse and pared the intra-day gains on the back of profit booking at intra-day high levels in banking stocks. 50-share broad-based index Nifty closed at 5928.40, up by 22.25 points or 0.38%, while Sensex closed at the 19983.61 up by 88.51 points gaining by 0.44%.

Rate-sensitives like realty and capital goods remained top sectoral performers and added strength to the indices following the Reserve Bank of India's move to cut the marginal standing facility (MSF) rate by 50 basis points to 9% while metals and technology stocks were under pressure.

Among sectoral indices, CNX Infra marched ahead of all gaining by 1.80% and further joined-in by CNX Realty (1.23%), CNX FMCG (1.09%), and Bank Nifty (0.59%). On the losing side, CNX Media emerged as the biggest loser and fell by -1.58% and chased by CNX Metal (-0.77%) and CNX PSU Bank (-0.66%).

Market breadth on the NSE somehow remained on positive note with 629 gainers against 528 losers and 73 closing without any change.

Out of 50 stocks of Nifty, 23 advanced and 27 declined.

Top Five Nifty gainers: Bharti Airtel (2.51%), Larsen & Toubro (2.21%), ITC (2.09%), Jindal Steel (2.04%) and ICICI Bank (2.00%) were among the top Nifty gainers.

Top Five Nifty Losers: BPCL was the biggest Nifty loser today and plunged by -3.23% followed by Hindalco (-2.05%), SBIN (-2.02%), IDFC (-1.93%) and BHEL (-1.44%).

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Friday 4 October 2013

Daily Equity Market Report – October 4, 2013

Indian markets witnessed very volatile session today but closed on a flat-to-negative note following concerns over US Govt. shutdown hurting sentiments. Benchmark indices pared their intra-day gains before closing for the weekend around previous day’s close level. Before closing, both the indices ventured between positive and negative terrain with sharp movements forming the intra-day high and low in the range of approximately 1%. S&P CNX Nifty closed at 5907.30, down by 2.40 points while Sensex end the day at 19915.95, down by 13.88 points.

With an aim to make Indian capital markets an easier and attractive investment destination for overseas investors, SEBI has finalized detailed regulations for 'Foreign Portfolio Investors' (FPIs). The new norms provide an operational framework for FPIs, a new class of overseas investors that club all existing class of investors like Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs). According to proposed norms, FPIs in the lowest risk category would not have to pay any registration fees.

Sectoral indices witnessed the mixed results caused by excessive volatility and gains in realty, auto and healthcare stocks were offset by losses in power, banks and capital goods. CNX Realty was the biggest gainer on the NSE as it registered gain of 1.62% and followed by CNX Auto (0.91%) and CNX Metal (0.70%). On the other hand, CNX PSU Bank loses the most on NSE and plunged by -0.56% and chased down by CNX Infra (-0.46%), CNX Service (-0.28%), CNX Finance (-0.27%) and Bank Nifty (-0.25%).

Market breadth was also averaged out on the NSE as 557 stocks advanced against 599 declined and 82 remaining unchanged.

While on Nifty, out of 50 stocks, 19 registered growth while 30 declined.

Top Five Nifty Gainers: Hindalco topped the Nifty Gainers chart and excelled by 2.47% followed by Coal India (2.30%), Lupin (2.18%), BPCL (2.00%) and Tata Motors (1.46%).

Top Five Nifty Losers: Dr. Reddys loses the most among Nifty stocks and fell by -2.47% and accompanied by Power Grid (-2.00%), Jindal Steel (-1.89%), IDFC (-1.32%) and Larsen & Toubro (-1.29%).

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Thursday 3 October 2013

Daily Equity Market Report – October 3, 2013

Both the benchmark indices, Sensex and Nifty received the hot money whole-heartedly from FIIs that is being infused in Indian markets as expected in-line after US Govt. shutdown. Both the indices continued their one-sided northward rally all along the day and registered substantial gains as Nifty gained by 2.24% and Sensex by 1.97%. Broad-based index Nifty breached the intermediate resistance level of 5,900 in last hour of trade and closed at 5909.70 up by 129.65 points while Sensex also surged 384.92 points and closed at 19902.07.

Market ended the day with a spectacular rally on the back of sustained buying across the board by FIIs and many more favorable news across segments. The US Govt. shutdown brought back US dollars in Indian markets as FIIs feared the hiccup in US economic recovery and QE will continue in the US for a longer period. Indian Govt. also decided to increase the capital infusion in PSU banks to beyond the budgeted Rs. 14,000 crore. Additional funding is expected to help PSU banks lend at lower rates to sectors like two wheelers and consumer durables.

All the sectoral indices registered growth today except the CNX FMCG which plunged by -0.76%. CNX Metal led the bull run on NSE and surged by 3.94% followed by CNX Media (3.68%), Bank Nifty (3.44%), CNX Commodities (3.20%), CNX Finance (2.86%) and CNX Service (2.59%).

Market breadth remained positive throughout the day on NSE with 796 gainers against 373 losers and 68 stocks closed unchanged.

Out of 50 stocks of Nifty index, 48 advanced and 2 declined.

Top Five Nifty Gainers: Sesagoa led the Nifty Gainers chart and excelled by 7.28% followed by J P Associates (6.58%), Ambuja Cement (6.19%), Axis Bank (5.62%) and Bank of Baroda (5.27%).
 
Top Five Nifty Losers: There were just two losers on the Nifty and both from FMCG sector, namely Hindustan Unilever (-1.81%) and ITC (-1.15%).

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Tuesday 1 October 2013

Daily Equity Market Report – October 1, 2013

Indian equity markets completely shrugged off the fact that US Govt. shutdown is the first of such instance in last 17 years and marched ahead in the name of local stimuli. Both the benchmark indices maintained their northward journey throughout the day after a single hiccup that was seen in early trading hours. The broad-based index Nifty rose by 44.75 points and closed at 5780.05 up 0.78%, while Sensex, gained by 137.38 points wrapped up the session at 19517.15 up 0.71%.

The US government shut down - the first time since 1995-96 - as the Republican and the Democrats failed to reach an agreement on spending and budget mainly due to their differences over the healthcare reforms, which is popular as Obamacare. Asian markets come off marginally from highs though most experts believe that the news was on expected lines. It seems market has already accounted for the anticipatory effect of this event and over-lived the fear in previous two trading sessions.

In Indian markets, recently declared lower-than-expected June quarter CAD number and encouraging September sales for automobile firms gave the optimistic reasons to investors. CAD widened by USD 21.8 billion in Q1 FY14, below the expectation of USD 25 billion; and in automobile segment, Maruti's sales rise 11.7% Y-o-Y to over 1 lakh units, beating expectations. TVS Motor's sales also rise about 16% Y-o-Y with a big boost coming in from exports. M&M, though bucked the trend, as total sales fell 10.5% but are still better-than-expected.

Among the sectoral indices, CNX Realty led the momentum in green terrain and surged by 2.91% followed by Bank Nifty (2.76%), CNX Finance (2.60%), CNX PSU Bank (1.80%) and CNX Service (1.44%). On the other hand, CNX Energy took the most of the losses among indices plunging by -0.92% and joined-in by CNX Commodities (-0.73%), CNX PSE (-0.67%), CNX MNC (-0.49%) and CNX Metal (-0.17%).

Market breadth remained positive today on NSE as 695 stocks rose against 490 declined while 48 remain unchanged.

Out of 50 stocks of Nifty index, 28 advanced and 22 declined.

Top Five Nifty gainers: DLF led the Nifty Gainers list and registered 6.99% gain joined by Ranbaxy (5.90%), IndusInd Bank (4.66%), Axis Bank (3.98%) and ICICI Bank (3.45%).

Top Five Nifty Losers: Tata Power was the biggest loser today and fell by -3.88% followed by Sesagoa (-3.18%), NTPC (-2.61%), ONGC (-2.18%) and Hindustan Unilever (-1.82%).

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Monday 30 September 2013

Daily Equity Market Report – September 30, 2013

Indian markets traded in negative terrain today following the weak global cues on fears of a possible shutdown of the US government. Both the benchmark indices witnessed selling pressure throughout the day which is only to become worse in last hour of the trading session. Both the indices, S&P CNX Nifty and S&P BSE Sensex, shed approximately 1.75%. 50-share broad-based index Nifty closed at 5735.30, down by 97.90 points while Sensex end the day at 19379.77, down by 347.50 points.

Investors across the globe from markets like Asia and Europe are worried over the US debt ceiling uncertainty and fears of a possible shutdown of the US government at midnight looms if the Republicans and the Democrats fail to reach a common ground on debt ceiling issue.

Whereas, in the domestic market, another important macro issue is playing its part as all eyes are set on the release of the June quarter CAD data expected this evening which determines if the government can manage to keep its full year fiscal deficit within its estimated USD 70 billion. According to analysts, weak Rupee and GDP contraction are likely to impact CAD and as per estimates India's CAD for 1Q FY14 is likely to be at $23 billion vs. $18.1 billion, Q-o-Q.

All the sectoral indices, except CNX MNC (0.06%) and CNX IT (0.02%) which somehow managed to end up in green zone, slumped today with rate sensitive stocks leading the fall fiasco. Bank Nifty loses the most on NSE and plunged by -2.85% and followed by CNX Finance (-2.63%), CNX Metal (-2.57%), CNX Realty (-2.48%), CNX Infra and CNX Media both (-2.35%), CNX PSU Bank (-2.10%) and CNX PSE (-2.01%).

Market breadth was negative on the NSE as 403 stocks advanced against 775 declined and 53 remain unchanged.

Out of 50 stocks of Nifty index, 9 registered growth while 41 declined.

Top Five Nifty Gainers: ACC Cement led the Nifty Gainers chart and excelled by 1.13% followed by Hindustan Unilever (0.97%), HCL Technologies (0.86%), BPCL (0.52%) and Lupin (0.20%).

Top Five Nifty Losers: NMDC loses the most among Nifty stocks and fell by -5.33% and accompanied by Tata Steel (-5.24%), J P Associates (-4.64%), ICICI Bank (-4.59%) and Coal India (-4.27%).

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Friday 27 September 2013

Daily Equity Market Report – September 27, 2013

Indian financial markets closed on a weak note today on the start of the new F&O series. Both the benchmark indices continue to drag their feet in the afternoon trade on weakness in banks, metals, capital goods and realty stocks. Indices witnessed selling pressure and made continuous day's lows as profit booking picked up in absence of positive triggers to drive the market higher. Nifty breached the 5850 level and fell down by 49.05 points and ended the day at 5833.20 while Sensex tanked by 166.58 points and closed at 19727.27 shedding approx. 1% to the previous close.

Start of the new F&O series is seen with cautious approach by market participants and markets remained in consolidation mood. After the recent rally of previous F&O series, market valuations are being expected to de-rate from current levels, with limited macro triggers for the markets in the near term and declining corporate earnings.

Meanwhile, Barclays lowered India's FY14 GDP forecast for the current fiscal to 4.7%, saying the growth and fiscal health of the country are likely to remain under pressure, with 2014 election dynamics adding to uncertainties. India's economic growth had slumped to decade low of 5% in 2012-13. It had slid to 4.4% during April-June quarter, the lowest in past several years, pulled down by drop in mining and manufacturing output.

All the sectoral indices pursued the corrective momentum of the market led by rate sensitive stocks except CNX FMCG, CNX IT and CNX Pharma, which registered insignificant gains at the end of the day. Bank Nifty was the biggest loosing indices with -1.97% and chased by CNX Finance (-1.70%), CNX Infra (-1.63%), CNX PSU Bank (-1.59%), CNX Metal (-1.58%) and CNX Realty (-1.32%).
Market breadth remained in negative terrain all day-long with 522 stocks advancing as against 641 stocks decline on NSE with 64 remaining unchanged.

Out of 50 stocks of Nifty, 12 stocks advanced against 38 declined.

Top 5 Nifty gainers: BPCL led the gainers chart on Nifty today gaining the most (6.03%) and joined in by HCL Technologies (2.40%), Sun Pharma (1.62%), Coal India (1.20%) and Hero Moto Corp. (1.05%).

Top 5 Nifty losers: BHEL topped the losers list by registering loss of -5.61% and followed by J P Associate (-5.59%), Tata Steel (-4.52%), DLF (-2.99%) and Kotak Bank (-2.93%).

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Thursday 26 September 2013

Daily Equity Market Report – September 26, 2013

Indian equity markets continued its flattish ending streak after witnessing day-long volatile trading session on the expiry day. In last one and a half hour of the day, both the benchmark indices were seen leaping ahead and afterwards pared the gain again with a sharp dip. Nifty leaped beyond 5900 mark and touched the intra-day high of 5917.65 before closing at 5882.25 up by 8.40 points, while Sensex also tried to reclaim 20000 level and made the intra-day high of 1997.28 and wrapped up the session at 19893.85 up by 37.61 points.

Market showed no sign of recovery in the last hour of trading before the September series expiry. Nifty ended the September series up 8.7% while the Sensex was up 8.2%. More than Rs. 12,500 crore worth of foreign money, initiatives of Mr. Raghuram Rajan and continuation of monthly fiesta of USD 85 billion bond buying by Fed drove this series rally.

Among sectoral indices, CNX Pharma surged by 0.86% gaining the most and followed by CNX FMCG (0.61%), CNX Metal (0.50%) and CNX Finance (0.47%). On the other hand, CNX Energy was the most loosing index as plunged by -0.87% and joined in by CNX Realty (-0.70%), CNX PSU Bank (0.64%) and CNX MNC (-0.42%).

Market breadth remained like a mixed bag today as 610 stocks on NSE rose against 533 declined while 82 remained unchanged.

Out of 50 stocks of Nifty index, 22 advanced against 27 declined and 1 remained without any change.

Top Five Nifty gainers: BHEL topped the Nifty Gainers chart and registered 5.59% gain and joined by Tata Steel (3.50%), J P Associate (3.35%), Coal India (2.85%) and Sun Pharma (2.28%).

Top Five Nifty Losers: Jindal Steel shed the most on Nifty losers list falling by -3.27% and followed by Ambuja Cement (-2.59%), PNB (-2.22%), GAIL (-1.94%) and Reliance Infra (-1.62%).

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Wednesday 25 September 2013

Daily Equity Market Report – September 25, 2013

Indian equity benchmark indices witnessed increasing volatility today in the market ahead of September series expiry. Both the flagship indices of India Inc. pared most of the intraday losses as traders covered some short positions ahead of the expiry of September F&O series. During the day, Nifty was seen as breaching the 5800 mark but pulled back successfully and managed to end the day up by 18.60 points by closing at 5873.85. Sensex also recovered from the day’s low and closed at 19856.24 up by 63.97 points.

The Nifty was extremely choppy towards close of the session after recouping losses and recovered nearly 75 points from day's low and the Sensex nearly 230 points from day's low. Bank Nifty, which caused the downward move in the market today, also recovered nearly 175 pts from day's low. According to dealers, the market may move higher to close in the positive territory. Power, pharmaceuticals, PSU banks and capital goods led the up-move while FMCG, oil & gas and rate sensitive stocks led the decline.

Among sectoral indices, CNX Media (2.60%) led the gainers and accompanied by CNX PSU Banks (1.76%), CNX Infra (1.59%), CNX Pharma (1.32%), CNX PSE (1.21%) and CNX Metal (1.12%). Among the losers, CNX FMCG plunged most (-1.00%) and followed by CNX Finance (-0.99%), Bank Nifty (-0.93%) and CNX Energy (-0.91%).

Market breadth remained negative all day long on the NSE with 358 gainers against 502 losers and 40 remaining unchanged.

Out of 50 stocks of Nifty, 22 stocks advanced while 28 stocks declined.

Top 5 Nifty gainers: BHEL today took the baton and charged the rally at Nifty by gaining 8.91% and chased by Sesagoa (4.34%), Hindalco (3.75%), SBIN (2.86%) and NTPC (2.51%).

Top 5 Nifty losers: BPCL emerged as most losing stock on the Nifty plunging by (-3.28%) and followed by Reliance (-3.21%), HDFC Bank (-2.91%), M&M (-2.81%) and DLF (-2.64%).

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Tuesday 24 September 2013

Daily Equity Market Report – September 24, 2013

After following a volatile trading session for almost entire day, Indian benchmark indices became lackluster and closed on a flat note today as investors paused aggressive selling seen in the last two sessions triggered by Raghuram Rajan’s maiden credit policy. The broad based index Nifty closed at 5892.45 up by 2.70 points while Sensex closed at 19920.21 up by 19.25 points.

Investors look directionless in the expiry week as trading was extremely volatile today. Amid volatility, capital goods and auto stocks are lending support to the market. Though Rupee recouped some losses on the back of Dollar sales by corporates and foreign banks for their clients, yet Dollar purchases by importers weighing heavily on the rupee.

Sectoral indices also shown this indecisiveness and witnessed mixed trends. CNX Auto led the gainers by advancing 1.17% and joined in by CNX Media (1.09%), CNX Infra (0.60%) and CNX Consumption (0.49%). On the other hand, CNX Metal dragged the market and plunged by -1.13% and followed by CNX PSU Bank (-0.78%), CNX IT (-0.39%) and Bank Nifty (-0.35%).

Market breadth on the NSE also witnessed some balancing acts with 523 gainers against 631 losers with 71 remaining unchanged.

Out of 50 stocks of Nifty, 23 advanced and 26 declined and 1 remained without any change.
 
Top Five Nifty gainers: Bajaj Auto topped the Nifty gainers chart today gaining by 2.80% and followed by Tata Power (2.72%), NTPC (2.03%), Larsen & Toubro (1.97%) and Cipla (1.68%).

Top Five Nifty Losers: Today Hindalco was the biggest loser on the Nifty and plunged by -3.65% chased by BPCL (-2.60%), Coal India (-2.48%), Jindal Steel (-2.04%) and ACC (-1.90%).

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Monday 23 September 2013

Daily Equity Market Report – September 23, 2013

Both the benchmark indices of India Inc., Sensex and Nifty extended losses for the second straight trading session as sentiment turned bearish after the RBI hiked repo rate to contain inflation last Friday as the markets entered in the expiry week. It seems as though the RBI policy has washed away all the optimism from the market.

Selling pressure intensifies with the Nifty cracking more than 2% on the back of disappointing global markets and fears of more rate hikes at home. The Nifty slumped below the crucial 5900-mark to close at the day's lows at 5889.75 down by 122.35 points and the Sensex ended down 362.75 points or 1.79% to end at 19900.96.

Market maintained its southward journey since the start of the day with most of the sectoral indices losing more than 2%, weighed down heavily by rate sensitive stocks. Oil & gas, realty, auto, capital goods and telecom sectors were also under pressure. Financial stocks took a beating with Bank Nifty losing 1,000 points in the last two sessions. Weakening of Rupee against the Dollar also added to the misery.

CNX PSU Bank was the biggest loser among the sectoral indices plunging by -5.70% and followed by CNX Realty (-4.49%), Bank Nifty (-4.45%) and CNX Finance (-3.93%). CNX IT (0.83%) and CNX Metal (0.18%) were the only indices registering the gain today.

Market breadth was negative on the NSE as 412 stocks advances against 772 declines and 53 remained unchanged.

Out of 50 stocks of Nifty index, 9 stocks gained while 40 declined with 1 remaining without any change.

Top Five Nifty gainers: Sesagoa led the Nifty Gainers list and excelled by 2.92% and accompanied by HCL Technologies (2.85%), Hindalco (1.80%), Hero Moto Corp. (1.28%) and Dr. Reddys (1.26%).

Top Five Nifty Losers: Realty and banking stocks topped the Nifty losers chart today with Bank of Baroda losing the most today by -7.33% and followed by DLF (-7.03%), Axis Bank (-6.56%), IndusInd Bank (-6.44%) and J P Associates (-6.12%).

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Friday 20 September 2013

Daily Equity Market Report – September 20, 2013

The party on the Dalal Street came to an end after the RBI Governor in a surprising move announced hike in interest rates and increased the repo rate by 25 basis points to 7.5% from 7.25% and reverse repo report to 6.5% from 6.25%. Reacting to the news, benchmark indices wiped out majority of gains made in the previous session on Thursday with rate sensitive stocks leading the decline. The 50-share index closed at 6,012.10, down 103.45 points or 1.69% and touched intraday high of 6,130.95 and a low of 5,932.85. The S&P BSE Sensex closed at 20263.71 down by 382.93 points declining by 1.85%.

The RBI decision to hike the repo rate came as a nasty surprise for equity investors, who were expecting the new governor to take a positive view of the economy. The S&P BSE Sensex cracked over 500 points, while the 50-share Nifty index slipped below its crucial psychological support level of 6100 in trades by plunging around 3%. But off day’s lows the market appeared to be somewhat convinced by newly appointed RBI governor Raghuram Rajan’s defense of the 25 basis point repo rate hike.

Yet, the mood appeared sour as investors see interest rates climbing near term because of the RBI’s renewed war on inflation. Bank and realty shares were the worst performers as these sectors are most sensitive to interest rate movements. Except CNX Pharma (0.20%) all the other sectoral indices faced the brunt of harsh reality of the economy and leading among the losers was the CNX Realty (-7.47%) followed by CNX PSU Bank (-4.35%), Bank Nifty (-4.14%), CNX Finance (-3.33%) and CNX Service (-2.14%).

Market breadth was totally in contrast to the yesterday’s picture on NSE as 362 stocks gained against 810 declined and 64 remained unchanged.

Out of 50 stocks of Nifty index, 20 advanced and 30 declined.

Top Five Nifty gainers: Reliance Infrastructure (5.16%), Ultra Cement Co. (5.00%), GAIL (4.19%), HCL Technologies (3.65%) and Ambuja Cement (3.31%) were among the top Nifty gainers.

Top Five Nifty Losers: While realty and banking stocks faced the heat today, DLF was the biggest Nifty loser today plunging by -11.99% and followed by PNB (-7.51%), Bank of Baroda (-5.43%), IndusInd Bank (-5.16%) and J P Associates (-5.07%).

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Thursday 19 September 2013

Daily Equity Market Report – September 19, 2013

The unexpected decision by the US Federal Reserve to keep its monetary stimulus unchanged jolted financial markets, sending stocks and commodities sharply higher. Markets cheered the US Federal Reserve’s decision on continuing bond purchases, lifting the benchmark indices, Sensex and Nifty approx. 3.5% higher. The 50-share index Nifty posted its highest close since May 30 and hit a 3.5-month high and closed above the 6100 mark at 6115.55 up by 216.10 points. Sensex also rallied over 700 points to touch its highest level in 34-months and ended at 20,646.64, up 684.48 points for the first time since November 10.

The US Federal Reserve said that it would continue buying bonds at an $85 billion monthly pace for now, surprising financial markets that were braced for a reduction in the central bank's economic stimulus. Market analysts cautioned that the rally would not sustain because of the fragile macro-economic environment, but admitted that liquidity, and not fundamentals, would be the driving factor in the short term.

Bank stocks were the star performers of the day, on hopes that the RBI would ease some of the liquidity curbs it had placed in July to protect the rupee. The market is now keenly awaiting the RBI’s monetary policy on Friday.

Shares of Reliance Communications and Adani Enterprises also gained 10-12% as these companies have huge un-hedged forex debt. As a result, the recent appreciation in the rupee will undo much of the marked-to-market losses these companies had suffered in August when the rupee came close to touching 69 to the dollar.

All the sectoral indices today took part in the ceremonial march-past cheering up the US Fed decision except CNX IT (-0.03%) which plunged in the last half an hour of the trading session. CNX PSU Bank (8.25%) led the rally and followed by Bank Nifty (6.71%), CNX Realty (5.86%), CNX Finance (5.85%) and CNX Infra (4.61%).

Market breadth remained all day positive on the NSE and at closing hours 837 stocks advanced against 335 declined and 65 remain unchanged.

While out of 50 stocks of Nifty index, 47 registered growth against 3 declined.

Top Five Nifty Gainers: Banking stocks led the Nifty Gainers chart and PNB topped the list excelling by 9.20% followed by Bank of Baroda (9.12%), J P Associate (8.86%), Kotak Bank (8.08%) and SBIN (8.05%).

Top Five Nifty Losers: There were only three stocks on the Nifty to end up at losing side with HCL Technologies disappointing the most and losing -0.66% and accompanied by Infosys (-0.24%) and Coal India (-0.13%).

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Wednesday 18 September 2013

Daily Equity Market Report – September 18, 2013

Indian equity markets remained range bound almost all the day as investors were cautious ahead of the FOMC meeting outcome later tonight. But in last one hour of the trading session both the indices witnessed a sharp pull-back on the back of short-covering rally ahead of the US Federal Reserve meet and breached their respective psychological levels. The broad-based index Nifty rose by 49.25 points and closed at 5899.45 up 0.84%, while Sensex, zooming by 158.13 points wrapped up the session at 19962.16 up 0.80%.

The Indian currency opened the day at 63.25 per dollar, slightly stronger than Tuesday’s close, and has since gained further ground against the greenback. A weak dollar as well as the recent RBI measures are said to be propping up the rupee today. Global markets gain as well, as investors await the conclusion of the Federal Reserve's Monetary Policy meeting. Key Asian indices end the day in the green. European markets edge higher and the US futures indicate a positive opening for Wall Street.

All the sectoral indices ended the day in the green terrain today except the CNX Metal, which remained unchanged after the day-long volatility and closed at previous day’s level. Today’s pull back rally was led by the interest rate sensitive stocks; CNX PSU Bank being the largest surging index by 2.35% followed by CNX Realty (2.09%) and Bank Nifty (1.64%).

Market breadth remained positive today as 601 stocks rose against 564 declined while 66 remained unchanged.

Out of 50 stocks of Nifty index, 36 advanced and 14 declined.

Top Five Nifty gainers: DLF led the Nifty Gainers list and registered 4.91% gain and joined by NTPC (4.00%), Tata Power (3.97%), Grasim (3.72%) and Bank of Baroda (3.31%).

Top Five Nifty Losers: BHEL was the biggest loser of the day and fell by -4.43% and followed by Hero Moto Corp (-2.95%), Sesagoa (-1.55%), Cairn (-1.39%) and NMDC (-0.97%).

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Tuesday 17 September 2013

Daily Equity Market Report – September 17, 2013

Indian benchmark indices managed to end in the green zone after a lackluster trading session today. The market traded in a very narrow range throughout the day as it is waiting for direction from FOMC & RBI policy that will take place later this week. The market appears to be in a consolidation phase today with the equity benchmarks hovering around their previous closing values and today is the fifth day of consolidation for the market. After a tepid opening, the Nifty is up 9.65 points or 0.17% and closed at 5850.20 and the Sensex is up 61.56 points or 0.31% ending at 19804.03.

Nifty witnessed some buying activity in the last half an hour of trade and hit fresh intraday high before closing at 5,850 level. Technology, metals, FMCG and auto sectors led the up move while realty and power stocks remained subdued.

The US Federal Reserve's two-day policy meeting starts today. Economists expect the Fed to reduce its asset purchase programme by USD 5-10 billion dollars a month. Global markets turn cautious looking ahead while in case of RBI, analysts do not see any move on policy rates.

Sectoral indices also witnessed this directionless movement and led by technology stocks fuelled by weak Rupee. CNX IT was the biggest gainer of the day with 1.71% and followed by CNX MNC (1.03%), CNX Metal (0.85%), CNX FMCG (0.67%) and CNX Auto (0.65%). Interest rate sensitive stocks faces the worry of policy actions awaited and CNX PSU Bank was the top amongst loosing and fell by -1.39% and followed by CNX Finance (-0.89%), Bank Nifty (-0.86%), CNX PSE (-0.77%) and CNX Energy (-0.75%).

Market breadth remains on the negative side today as most of the time market ventured in negative terrain. On NSE, there were only 487 stocks advanced as against 681 declined and 67 stocks remaining unchanged.

Out of 50 stocks of Nifty 29 stocks advanced against 21 declined.

Top 5 Nifty gainers: HCL Technologies topped the gainers chart today on the Nifty by registering 4.20% growth and accompanied by Dr. Reddy (3.37%), Ranbaxy (3.28%), Ultra Cement Co. (2.93%) and Jindal Steel (2.42%).

Top 5 Nifty losers: Sun Pharma was the biggest Nifty stock on the loser side today by registering loss of -3.71% and followed by Bank of Baroda (-3.66%), Axis Bank (-3.20%), IndusInd Bank (-3.00%) and ONGC (-2.61%).

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