Tuesday 2 July 2013

Daily Equity Market Report – July 2, 2013

Equity markets today witnessed the profit booking and came under pressure after 3 days continual upward momentum. Indian benchmarks traded in the negative territory throughout the day. Sensex slipped below 19500 and ended the day at 19455.02 down by 122 points while Nifty ended at 5857.25 down by around 42 points.

Ranbaxy Labs rebounded in late trade after the USFDA told CNBC-TV18 that there is no proof of data reliability issues other than at 3 units that are Ponta Sahib, Batamandi & Dewas.

USFDA said, "Company's two manufacturing plants remain under ongoing review. There is no evidence of major current good manufacturing practices (CGMP) violations except Gloversville."
Jet Airways Ltd slipped after the Jet-Etihad deal hit a fresh air pocket with the Prime Minister's Office (PMO) asking the civil aviation ministry to bring the proposal for discussion in the Union Cabinet.

Among the sectoral indices CNX Pharma surged by 0.62% and was the only gainer of the day while CNX Realty was the biggest loser, plunging -2.10% followed by and CNX Media (-1.77%) and CNX PSU Bank (-1.56%).

Out of 50 stocks of Nifty 19 stocks ended in green, 30 stocks in red and 1 stock remain unchanged.

Top 5 Nifty gainers: Ranbaxy (6.81%), LUPIN (3.20%), GAIL (2.31%), Bharti Airtel (2.14%) and BHEL (1.98%) were among the top gainers list.

Top 5 Nifty losers: Jindal Steel (-4.29%), DLF (-3.01%), Axis Bank (-2.72%), Reliance Infrastructure (-2.61%) and Tata Power (-2.31%) were top Nifty laggards.

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