Daily Equity Market Report – July 26, 2013

Indian equity market extended its intraday losses for the third consecutive day. Nifty remained volatile throughout the day and slipped below the psychological 5,900 level. Nifty ended the day at 5,886.20 down by 21.30 points while Sensex ended at 19,748.19 down by 56.57 points.

Rate sensitives were under some pressure ahead of the Reserve Bank of India's policy review meet on concerns that the central bank may hike interest rates in order to support rupee from depreciating against the US dollar.

State-owned Punjab National Bank (PNB) today posted a 2.4% rise in net profit to Rs. 1,275.32 crore for the first quarter ended June 30, 2013. Total income during the April-June quarter of the current fiscal increased to Rs. 11,746.59 crore from Rs. 11,721.97 crore in the year-ago period. However, gross non-performing assets (NPAs) have gone up from 3.34% in the year-ago period to 4.84% at the end of three months period ended June 30, 2013.

FMCG major Hindustan Unilever was witnessing selling pressure after the company reported a volume growth of 4% for the quarter ended June 2013 against 6% in previous quarter.
CNX Metal (-3.24%), CNX PSU Bank (-3.02%) and CNX Media (-2.66%) were among the top sectoral indices laggards while CNX Pharma (0.40%) and CNX FMCG (0.31%) were only gainers of the day.

Out of 50 stocks of Nifty 19 stocks ended in green while 31 stocks ended in red.

Top 5 Nifty gainers: Ambuja Cement gained 5.23% followed by ITC (2.76%), Sun Pharma (2.35%), Hero Motorcorp (2.22%) and M&M (1.88%).

Top 5 Nifty losers: Hindalco traded 7.68% lower. PNB (-5.58%), Sesagoa (-4.82%), Coal India (-4.20%) and HUL (-3.77%) were among the biggest losers.

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