Daily Equity Market Report – July 30, 2013

Indian benchmark indices plunged over 1.25% on the back of weakness in currency which breached levels of Rs 60/USD for the first time since July 15. Nifty fell down below the 5800 level and ended the day at 5,755.05 down by 76.60 points while Sensex tanks 244.94 points and ended at 19,348.34.
The Reserve Bank of India left its policy repo rate at 7.25 per cent but took a dovish tone as it slashed its growth forecast of the economy to 5.5% for the fiscal year, from 5.7% previously.

11 out of 50 stocks of Nifty hit their fresh 52-week low after the monetary policy review statement led by rate sensitive stocks.

Dr Reddy's Laboratories disappointed the street on all parameters with the first quarter net profit growing lower-than-expected 7.44% year-on-year to Rs 361 crore. Revenues increased 12% to Rs 2,845 crore during April-June quarter from Rs 2,540.6 crore reported in a year ago period. Analysts on an average had expected the Pharma Company to report net profit of Rs 421 crore on revenues of Rs 3,127 crore for the quarter.

Among the sectoral indices CNX PSE (-3.94%), CNX Energy (-3.70%) and CNX Realty (-3.46%) were top laggards while CNX IT (0.59%) was the only gainer on the back of Rupee depreciation against Dollar.

Out of 50 stocks of Nifty 9 stocks advanced, 40 declined and 1 remain unchanged.
 

Top 5 Nifty gainers: IDFC (2.53%), Jindal Steel (1.95%), HCL (1.58%), Sun Pharma (1.36%) and L&T (1.05%) were the Nifty top gainers.
 

Top 5 Nifty losers: BPCL (-8.90%), Reliance Infrastructure (-7.09%), DLF (-7.09%), Ranbaxy (-6.44%) and ONGC (-5.91%) were top losers.
 

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