Daily Equity Market Report – April 18, 2013

Indian stock market maintained the day in positive zone and picked up the momentum in late trade. The momentum was led by positive trade data for the month of March and sharply falling prices of crude oil and gold globally. Nifty gained 94 points and closed at 5783.10 while Sensex ended the day at 19016.46 up by 285 points.

Government announces that India’s exports were of $300.6 billion, down by 1.76% in the FY 2012-13, but exports were up for the third straight month in March. Lower than expected data of WPI for the month of March raised hopes that the Reserve Bank of India will cut interest rates in its upcoming credit policy review on May 3 to boost industrial growth.

Shares of oil and gas companies continued their gains on hopes that the falling global crude prices will result in lowered cost of under-recoveries. TCS came under selling pressure as IT major reported operating margins which fell to 26.5% from 27.3% in the previous quarter.

Among the sectoral indices CNX finance was up by 2.64% followed by Bank Nifty (2.56%)              and CNX PSU Bank (2.52%). CNX IT was only sectoral indices plunged by -0.05%.

Market breadth was positive on the NSE with 741 gainers against 502 losers.

Out of 50 stocks of Nifty 38 advanced while 11 declined and 1 remained unchanged.

Top 5 Nifty Gainers:  IndusInd Bank gained 7.71% followed by IDFC (4.91%), Bharti Airtel (4.47%), Tata Motors (3.85%) and Axis Bank (3.84%).

Top 5 Nifty Losers: NMDC loses -2.48% followed by HCL (-1.97%), TCS (-0.93%), Dr. Reddy (-0.28%) and CIPLA (-0.21%).

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