Friday 28 June 2013

Daily Equity Market Report – June 28, 2013

Dalal Street today witnessed the massive rally as Indian benchmark indices gained almost 2.80%, its highest gain in 18 months. Sensex regained the psychological level of 19,000 and ended the day 19,395.81 with 519.86 points gain while Nifty ended at 5,842.20 and jumps around 160 points.

Momentum was led by the hopes that Federal Reserve will not rush to rein in its stimulus measures. Shares in energy companies surged after the government's approval of a hefty increase in gas prices is seen boosting earnings for producers. Government finally approved doubling of natural gas prices to $8.4/mmbtu from April 1 next year.

Among the sectoral indices CNX Infra surged 3.99% followed by CNX Energy (3.76%) and CNX Finance (3.65%). Other all indices also ended in positive terrain.

Out of 50 stocks of Nifty 47 stocks ended in positive zone while 3 stocks ended in negative zone.

Top 5 Nifty gainers: Jindal Steel (7.40%), BHEL (7.33%), Reliance Infrastructure (6.53%), BPCL (6.232%) and Tata Power (6.20%) were among the top gainers of the day.

Top 5 Nifty losers: HCL (-2.81%), Ranbaxy (-2.39%) and HUL (-0.54%) were only index laggards.
 
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Thursday 27 June 2013

Daily Equity Market Report – June 27, 2013

Indian benchmark indices remained in the positive territory throughout the whole trading session. Indian equity market gained the momentum in the afternoon trade led by the news of lower than expected CAD for Jan-Mar quarter. 50 stocks index Nifty surged 93 points and ended the day at 5,682.35 while Sensex ended at the day at 18,875.95 jumps 323.83 points.

The current account deficit narrowed to $18.1 billion in January-March versus a $21.7 billion deficit in the same quarter year ago. The current account deficit moderated sharply to 3.6% of the GDP from all time high level of 6.7% reported in the previous quarter.

The current account deficit stood at $87.8 billion, or 4.8% of the GDP in the financial year 2012-13 as compared to $78.2 billion or 4.2% of the GDP in the previous year, according to data released by the Reserve Bank of India (RBI)

Rupee sharply recovered to 60.40 in the early trades against US dollar after hitting the record low of 60.76 yesterday.

Oil & gas sector companies were witnessing buying action in trade in anticipation of a hike in natural gas prices for the first time in three years.

Among the sectoral indices CNX IT was the biggest gainer and surged by 3.27% followed by CNX Energy (2.52%) and CNX Pharma (2.09%) while CNX FMCG was the only lose of the day plunging -0.02%.

Top 5 Nifty gainers: Cairn (5.76%), DLF (5.19%), Ultra Cement (4.69%), ONGC (4.23%) and HCL (3.51%) were among the top gainers.

Top 5 Nifty losers: IDFC (-1.40%), Maruti (-1.39%), Grasim (-0.86%), PNB (-0.68%) and ITC (-0.60%) were among top index losers.

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Wednesday 26 June 2013

Daily Equity Market Report – June 26, 2013

Indian equity market remained under pressure ahead of Derivatives June month expiry. Indian rupee breached the physiological support of 60 and hits the all time low of 60.38 against the US dollar as last reported. Sensex ended the day at 18,552.12 down by 77.03 while 50 stocks index Nifty ended at 5,580.70 down by 20.40 points.

IT stocks surged as INR depreciated below 60 against USD, it depreciated by 7 percent in month of June and 12 percent since May 1. Banking, metals, auto, healthcare stocks were the top losers of the indices. Foreign Institutional Investors remained the net seller and have sold Rs. 10,550 crore over 11 consecutive sessions till Monday.

Among the sectoral indices CNX IT was the biggest gainer of the day and surged by 1.75% while CNX Auto was the biggest loser, down by -1.73% followed by CNX Metal (-1.38%) and CNX Pharma (-1.12%).

Out of 50 stocks of Nifty 19 stocks were ended in positive zone while 31 stocks ended in negative territory.

Top 5 Nifty gainers: TCS (3.86%), Hero Motorcorp (3.84%), Asian Paints (3.82%), Power Grid (2.81%) and HCL (2.69%) were index top gainers.

Top 5 Nifty losers: Bharti Airtel (-5.91%), M&M (-5.10%), Kotak Bank (-4.50%), IndusInd Bank (-4.17%) and Ranbaxy (-3.66%) were among top losers.

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Monday 24 June 2013

Daily Equity Market Report – June 24, 2013

Indian benchmark indices continued their losing streak and fell to their lowest close in more than 2 months. Nifty breached its physiological level of 5600 since April 16 2013 and ended the day at 5590.25 plunged by 77.40 points while Sensex ended the day at 18540.89 down by 233.35 points.

Indian equity market witnessed the high volatile session ahead of June month expiry of F&O segment. Meanwhile, Jittery institutional investors continued to offload positions on rising concerns that the US Federal Reserve may halt its stimulus package programme.

INR continued to trade close to its low at 59.71 against the US dollar.

Among the sectoral indices CNX Realty was the biggest loser of the day and plunged around 4.7% followed by CNX Infra (-2.65%) and CNX PSU Bank (-2.52%). All other indices closed at negative terrain.

Out of 50 stocks of Nifty 11 stocks were ended in green while other 39 stocks ended in red.

Top 5 Nifty Gainers: Jindal Steel (1.61%), LUPIN (1.14%), ACC (0.79%), ICICI Bank (0.64%) and HDFC (0.51%) were among the top gainers.

Top 5 Nifty Losers: JP Associate (-11.45%), Ranbaxy (-6.99%), DLF (-6.14%), Kotak Bank (-4.50%) and Asian Paints (-3.68%)

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Friday 21 June 2013

Daily Equity Market Report – June 21, 2013

Indian equity market extended its overnight losses and opens below the its previous day close but in the afternoon trade Indian equity market trimmed its losses and ended the day in the positive terrain led by gains in technology, auto and power stocks. Sensex ended the day at 18774.24 up by 54.95 points while Nifty ended at 5667.65 up by 11.75.

Software exporters gained, helped by hopes a weaker rupee would improve overseas earnings. Indian Rupee touched the all time high of 59.98 against US dollar on Thursday following the US Federal Reserve's statement on its plan to wind down the monetary stimulus.

Among the sectoral indices CNX IT surged by 1.46% and was the biggest gainer of the day meanwhile CNX PSU Bank (-1.96%), CNX Metal (-1.31%) and CNX Realty (-1.27%) were among the top losers.

Out of 50 stocks of Nifty 25 stocks ended in green and 25 stocks in red.

Top 5 Nifty gainers: IndusInd Bank (3.95%), Hindalco (3.32%), ONGC (2.82%), Ranbaxy (2.11%) and NMDC (1.88%) were Nifty top gainers.

Top 5 Nifty losers: Jindal Steel (-7.79%), BOB (-4.59%), PNB (-3.07%), Reliance Infrastructure (-2.02%) and Sun Pharma (-2%) were among index top laggards.

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Thursday 20 June 2013

Daily Equity Market Report – June 20, 2013

Indian equity market was under pressure and fell over 2.5%. 30 stock index Sensex tanks 526 points, the biggest daily percentage fall in 21 months and ended the day at 18719 while Nifty dives 166 points and ended at 5655.

Indian equity market extended its losses after the US Federal Reserve said it plans to gradually withdraw bond purchase program towards the end of 2013 and wrap up in 2014.

The Indian rupee depreciated to 59.77 per dollar as against previous day's closing of 58.70 per dollar.
Among the sectoral indices CNX Realty plunged by -5.35% followed by CNX Metal (-4.55%) and Bank Nifty (-4.03%). All other major indices ended at negative territory.

Out of 50 stocks of Nifty only 2 stocks ended in green zone remaining 48 stocks ended in red.

Top Nifty gainers: Sun Pharma (0.60%) and Ambuja cement (0.05%) were only gainers of the day.

Top Nifty losers: Jindal Steel (-10.82), JP Associate (-7.34%), DLF (-7.22%), Tata Steel (-6.97%) and Reliance Infrastructure (-6.77%) were among the top Nifty losers.

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Wednesday 19 June 2013

Daily Equity Market Report – June 19, 2013

Indian benchmark indices traded maximum trading session in negative terrain but recovers a bit in the last trading hour of the day. 30 stocks index Sensex ended the day at 19240.90 up by 17.61 points while Nifty ended at 5820.85 up by just 7.25 points.

Indian equity benchmarks are completely listless as investors are eagerly waiting for the outcome of two-day US Federal Reserve's policy meeting that will end on Wednesday.

Bharti Airtel and Idea cellular follow the Vodafone with 2G data tariff cuts and are likely between 60-80 percent and cuts are likely in non-metro circles. On Monday, Vodafone India slashed 2G data tariffs by 80 percent in four circles namely Madhya Pradesh, Karnataka, Chhattisgarh and Uttar Pradesh West.

Among the sectoral indices CNX Metal surged 1.24% followed by CNX Realty (1.09%) and CNX MNC (0.62%) meanwhile CNX Auto was the biggest loser of the day plunged by -0.56%.

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

Top 5 Nifty gainers: Hindalco (3.26%), Sesagoa (2.89%), Ambuja Cement (2.54%), Bharti Airtel (2.40%) and Jindal Steel (2.33%) were among the top gainers.

Top 5 Nifty losers: Tata Motors (-2.08%), Hero Motorcorp (-1.81%), Dr. Reddy (-1.74%), Ultra Cement (-1.66%) and Tata Power (-1.62%) were top losers.

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Tuesday 18 June 2013

Daily Equity Market Report – June 18, 2013

Indian equity market witnessed the volatile session due to the uncertainty about the future of the U.S. monetary stimulus programme. BSE’s index Sensex sheds over 100 points and ended the day at 19223.28 while NSE’s index Nifty ended at 5813.60 down by 36.45 points.

Global markets are on alert for Fed monetary stimulus guidance on when and how quickly it will look to wind down its bond buying programme.

Banking sector were the underperformer of the day ahead of US monetary stimulus meeting ending on Wednesday and RBI decision on its key rates, kept unchanged on Monday.

Among the sectoral indices CNX media was the biggest gainer of the day surging by 1.78% while CNX PSU Bank was the biggest loser down by 1.35% followed by Bank Nifty (-1.25%) and CNX Finance (-1.03%).

Out of 50 stocks of Nifty 14 stocks were ended in green zone while 36 stocks ended in red.

Top 5 Nifty gainers: Tata Steel (2.65%), Infosys (1.38%), Sesagoa (1.11%), Bajaj Auto (1.01%) and Kotak Bank (0.93%) were Nifty top gainers.

Top 5 Nifty losers: Ranbaxy (-3.90%), NTPC (-2.69%), IndusInd Bank (-2.49%), PNB (-2.47%) and Ultra Cement (-2.47%) were among top losers.

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Monday 17 June 2013

Daily Equity Market Report – June 17, 2013

Indian equity market gained the momentum in afternoon trade even after the RBI denied lowering its key rate and kept it unchanged on its monetary policy meet. Sensex closes up 147 points at 19325.87 while 50 stocks index Nifty ended at 5850.05 up by 41.65 points.

According to market makers, market had already factored in no change in interest rate but the momentum was led by RBI future guidance which increases the hopes of rate cut in the second half of the year if CPI moderates and INR stabilizes against USD.

Bharti Airtel on Monday announced completion of 5 percent stake sales to Qatar Foundation Endowment for Rs. 6,796 crore. Airtel has allocated 199,870,006 new equity shares at price of Rs. 340 each share.

Among the sectoral indices CNX Auto gained 1.82% followed by CNX Consumption (1.61%) and CNX Infra (1.04%) while CNX Metal (-0.09%) was the only loser of the day.

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

Top 5 Nifty gainers:  BHEL (4.03%), M&M (3.97%), Bharti Airtel (2.26%), Bajaj Auto (2.12%) and Reliance Infrastructure (1.75%) were among top gainers.

Top 5 Nifty losers: Ranbaxy (-3.57%), Hindalco (-1.50%), GAIL (-1.35%), NTPC (-1.32%) and Sesagoa (-1.27%) were index top losers.

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Friday 14 June 2013

Daily Equity Market Report – June 14, 2013

After 3 day losing streak Indian equity markets bounced back and gained over 1.85%. The momentum was led by rate sensitivities (auto, banking, realty etc) stocks on the hope of rate cut due to the less than expected number of headline inflation. Nifty crossed the 5800 level and ended the 5808 up by 109.30 points while Sensex jumped 350 points and ended the day at 19177.93.

India's May WPI inflation eased to 4.7% against 4.89% in April and increases the sentiments of rate cut ahead of monetary policy meet on Monday.

Tata Motors surged after its subsidiary JLR registered strong growth in retail sales in May 2013. The UK-based subsidiary's retail volume grew 12.3% Y-o-Y and 13.9% M-o-M to 32,477 units in May 2013, which was better-than-expected, driven by continued momentum in the recently launched models.

Among the sectoral indices CNX Auto surged by 2.80% and was the top gainer followed by CNX Metal (2.63%) and CNX Realty (2.37%). All other indices also ended in positive terrain.

Top 5 Nifty gainers: Hindalco (8.47%), Tata Motors (4.79%), Maruti (4.08%), JP Associate (4.03%) and Tata Power (3.71%) were among top gainers.

Top 5 Nifty losers: IndusInd Bank (-1.47%), Hero Motorcorp (-0.86%), HUL (-0.18%), Bharti Airtel (-0.07%) and CIPLA (-0.05%)

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Thursday 13 June 2013

Daily Equity Market Report – June 13, 2013

Indian equity market opened with the gap down to the yesterday’s close and fell down over 1% for the second consecutive day. Nifty breached the 5700 mark and ended at 5696.15 down by 65 points while Sensex sunk below 18000 after almost 45 days and ended at 18827.16 down by 213.97 points.

The comments of Finance Minister P Chidambaram that the government is taking number of measures to revive growth and limit fiscal consolidation failed to boost sentiments.

FM added that the government will go ahead with the 10 percent stake sale of Coal India, which may fetch Rs 20,000 crore to the exchequer, and the Coal Ministry will talk to the Trade Unions to sort out issues.

Sun Pharmaceutical Industries share fell down after the company settled a patent suit with Pfizer Inc related to its acid-reflux drug for $550 million.

Among the sectoral indices CNX Auto was the biggest loser of the day plunged by -2.56% followed by CNX Realty (-2.29%) and CNX Pharma (-1.85%). All the sectoral indices of NSE ended in negative zone.
 
Out of the 50 stock Nifty 9 stocks ended in green while 41 ended in red.

Top 5 Nifty gainers: Hindalco (4.71%), Bharti Airtel (3.31%), Jindal Steel (0.62%), SBIN (0.55%) and Ambuja cement (0.46%) were top index gainers.
 
Top 5 Nifty losers: PNB (-4.73%), BOB (-4.20%), GAIL (-3.92%), Tata Motors (-3.90%) and NMDC (-3.69%) were top laggards.

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Wednesday 12 June 2013

Daily Equity Market Report – June 12, 2013

Indian equity market witnessed the volatile session today. Sensex slipped below the 19000 key mark and hits the intraday low of 18969.80. Sensex ended the day at 19041.13 plunging 101.87 points while 50 stocks index Nifty ended at 5760.20 down by 28.60 points.

INR made a sharp recovery against the USD from its low of 58.98 and hits the intraday high of 58.02. INR declined 3.25% in last 3 days.

Meanwhile, the IIP and CPI numbers have raised concerns whether the Reserve Bank of India will cut rates at its meet next week. India's IIP for the month of April grew at 2% as compared to 3.4% in March 2013 and -1.3% in April 2012.

The CPI for the month of May came in at 9.31% versus 9.39% in April. The consumer food price based inflation came in at 10.65% versus 10.61%, month-on-month.

Among the sectoral indices CNX Pharma surged 0.68% while CNX Media plunged by -1.79% followed by CNX IT (-1.72%) and CNX Metal (-1.67%).

Out of 50 stocks of Nifty, 21 stocks advanced and 29 declined.

Top 5 Nifty gainers: Jindal Steel (3.47%), IndusInd Bank (2.96%), JP Associate (2.53%), IDFC (2.04%) and LUPIN (1.97%) were among top gainers.

Top 5 Nifty losers:  Reliance Infrastructure (-3.95%), Axis Bank (-3.28%), Coal India (-3.00%), Tata Power (-2.85%) and Tata Steel (-2.76%) were top losers.

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Tuesday 11 June 2013

Daily Equity Market Report – June 11, 2013

Both the Indian benchmark indices ended 1.52% lower due to the free fall of INR against the USD. INR hits the all time low of 58.92 per US dollar. 50 stock index Nifty breached the 5800 level & ended the day at 5788.80 down by 90 points while Sensex closed at 19143 tanked almost 300 points.

Jindal steel came under selling pressure as FIR has been lodged against four companies including JSPL in coal scam. CBI sources that it has registered fresh case in coal scam against four companies and two individuals which includes Naveen Jindal and former Minister of State, Coal, Dasari Rao.
Among the sectoral indices CNX metal fell down by -4.43% followed by CNX Realty (-3.80%) and CNX Commodities (-2.45%). All other sectoral indices also closed in negative terrain.
Out of 50 stocks of Nifty 11 stocks ended in green and 39 ended in red.

Top 5 Nifty gainers: Ambuja cement (1.85%), CIPLA (1.84%), Bajaj-Auto (1.01%), GAIL (0.61%) and Ranbaxy (0.57%) were among the top Nifty gainers.

Top 5 Nifty losers: Jindal Steel (-15.25%), Hindalco (-6.31%), Tata Power (-6.10), DLF (-4.23%) and ONGC (-4.02%) were among top losers.

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Monday 10 June 2013

Daily Equity Market Report – June 10, 2013

Indian share market failed to hold intraday gains as market witnessed the volatile session today. 50 share index Nifty & 30 share index Sensex ended the day on flat note. Nifty ended at 5878 down by 3 points while Sensex ended at 19441.07 up by 11.84 points.

Indian Rupee breached all time low of 57.32 against the US dollar and currently trading at intra-day low of 57.97 following disappointing data from China and slightly better-than-expected US jobs data. OMCs are likely to take the Rs 22000 crore hit on under recoveries on account of rupee depreciation.
Among the sectoral indices CNX IT was the biggest gainer of the day and surged 0.99% while CNX Realty loses -1.52% followed by Bank Nifty (-1.18%) and CNX Pharma (-1.13%).

Out of 50 stock of Nifty 19 stocks ended in positive while 31 stocks in negative.

Top 5 Nifty gainers: HDFC (1.95%), NTPC (1.76%), Infosys (1.71%), Bajaj Auto (1.69%) and HCL (1.65%) were among top gainers.

Top 5 Nifty losers: Jindal Steel (-4.19%), BPCL (-2.51%), BHEL (-2.46%), IndusInd Bank (-2.16%) and IDFC (-2.14%) were top losers.

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Friday 7 June 2013

Daily Equity Market Report – June 7, 2013

After opening lower to the previous close Indian equity market gained the momentum in the morning trade but slipped into red in closing hours. Nifty touched the high of 5960 but shed the intraday gain and sunk below 5900. 50 share index ended the day at 5881 plunging by 40.40 points while Sensex shed over 250 points from its intraday high and ended the day at 19429.23 down by 90.26 points.
Indian rupee fell below the 57 mark, depreciating by 19 paise to 57.03 per dollar that pushed shares of IT services exporters higher.

Generic drugs maker Dr Reddy's Laboratories' fourth quarter consolidated net profit surged 67% year-on-year to Rs 571 crore, helped by a sharp increase in other income.

Reliance Industries Ltd’s telecom arm (Reliance Jio Infocomm) will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than Rs 12,000 crore over the lifetime of the contract.

Among the sectoral indices CNX IT was the biggest gainer of the day surging 1.37% while CNX PSU Bank fell down by 1.87% & was the biggest loser.

Out of 50 stocks of Nifty 10 stocks ended in positive terrain while 40 stocks in negative.

Top 5 Nifty gainers: TCS (3.53%), Dr. Reddy (2.68%), BPCL (1.45%), LUPIN (1.02%) and Infosys (0.86%) were among the top Nifty gainers.

Top 5 Nifty losers: JP Associate (-3.30%), Axis Bank (-3.25%), Bharti Airtel (-2.69%), BOB (-2.61%) and Maruti (-2.61%) were top laggards.

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Thursday 6 June 2013

Daily Equity Market Report – June 6, 2013

Indian benchmark indices opened in the red but rebounded in the afternoon trade led by financial stocks. Nifty hits the high of 5955 but fell down and closed across to the previous day close. Nifty ended the day at 5921.40 inch lower to yesterday close of 5923.85, down by 2.45 points while Sensex ended at 19519.49 down by 48.73 points.

PTI reported the government is planning to sell 10% stake in IOC through offer for sale. The share sale could fetch over Rs 6,800 crore to the government.

While addressing shareholders at 39th annual general meeting, Reliance Industries chairman Mukesh Ambani said he remained bullish on business of Reliance Jio. He also said the company had spent Rs 18,000 crore on 4G so far.

Among the sectoral indices CNX PSU Bank surged 1.26% followed by Bank Nifty (0.89%) and CNX Finance (0.53%) while CNX Pharma plunged -1.22%.

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

Top 5 Nifty gainers: Reliance Infrastructure (3.25%), HCL (2.71%), Axis Bank (2.66%), Ambuja Cement (2.51%) and BOB (2.34%) were among the top gainers.

Top 5 Nifty losers: Bharti Airtel (-2.53%), LUPIN (-1.86%), Infosys (1.75%), Sun Pharma (-1.70%) and NTPC (-1.66%) were among top losers. 

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Wednesday 5 June 2013

Daily Equity Market Report – June 5, 2013

Indian equity market traded in red zone in the morning trade but consolidated in the afternoon around previous day’s close. 50 stock index Nifty ended inch above to previous day close at 5923.85 surging just 4.40 points while 30 stock index Sensex ended at 19568.22 up by 22 points.

Reliance Industries gained momentum just ahead of the annual general meeting scheduled tomorrow. Sun Pharma too held up its intraday gains. Some banking stocks declined on continued uncertainty over rate cuts and on caution as foreign investors sold index futures.

Among the sectoral indices CNX Energy was the biggest gainer up by 1.61% followed by CNX Realty (1.58%) and CNX Commodities (0.49%) while CNX Media was the top loser plunging -0.92%.

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

Top 5 Nifty gainers: Reliance (2.79%), DLF (2.67%), ONGC (1.82%), Hindalco (1.78%) and Sun Pharma (1.69%) were among the top index gainers.

Top 5 Nifty losers: Ambuja Cement (-1.72%), Infosys (-1.32%), HDFC (-1.31%), ACC (-1.24%) and HCL (-1.06%) were among top losers.

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Tuesday 4 June 2013

Daily Equity Market Report – June 4, 2013

Indian equity market traded most of the session in a positive territory in a very tight range, though in the last 1 hour of the day market took U-turn and settled down in red zone. 50 stock index Nifty closed at 5919.45 down by 19 .85 points while Sensex ended at 19545.78 down by 64.70 points.

Financial stocks came under pressure in the last hour of the day as RBI has tightened norms for gold import by nominated agencies. The central bank has said that all letters of credit for gold import will be made only against 100 percent cash and "All gold imports must be on ‘docu against payment' basis,".

Among the sectoral indices CNX Pharma surged 1.85% while CNX PSU plunged -1.21% followed by CNX Finance (-1.07%) and Bank Nifty (-1.02%).

Out of 50 stocks of Nifty 21 stocks ended in positive terrain while 29 in negative.

Top 5 Nifty gainers: Ranbaxy (4.22%), Dr. Reddy (2.52%), CIPLA (2.42%), LUPIN (2.03%) and L&T (1.78%) were top index gainers.

Top 5 Nifty losers: Tata Motors (-2.53%), Axis Bank (-2.51%), Sesagoa (-2.21%), SBI (-2.07%) and Ambuja cement (-1.91%) were among top losers.

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Monday 3 June 2013

Daily Equity Market Report – June 3, 2013

Indian equity market on the opening day of the week traded in negative territory led by the weak auto sales and loses in oil & gas, capital goods and banking sector. 50 stock indices Nifty closed at 5938.85 down by 47 points while Sensex ended the day at 19610.18 & fell down by 150 points.
Infosys was the favourite stock at Dalal Street after the country's second largest software services major re-appointed N R Narayana Murthy (NRN) as its executive chairman with immediate effect to put the company back on high growth path.

Sun Pharmaceutical Industries on media reports the company is in talks to buy Sweden's Meda AB for between $5 billion and $6 billion to boost its generics business in developed markets but market took news on negative on worries that a potential acquisition would reduce Sun Pharma's cash position and increase debt.

Among the sectoral indices CNX Media surged 2.18% & became the top gainer of the day followed by CNX IT (1.23%) and CNX PSU Bank (0.85%) while CNX Energy plunged -1.92%.
Out of 50 stocks of Nifty 17 ended in green and 33 ended in red.

Top 5 Nifty gainers: Infosys (4.00%), LUPIN (2.35%), Reliance infrastructure (2.26%), Jindal Steel (2.13%) and Tata Steel (1.97%) were index top gainers.

Top 5 Nifty losers: ONGC (-3.51%), Asian Paints (-3.42%), Bajaj Auto (-3.32%), Hero Motorcorp (-3.30%), and Ranbaxy (-3.29%) were index top losers.

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