Friday 30 August 2013

Daily Equity Market Report – August 30, 2013

Indian equity market rebounded in the last hour trading session after losing first half gains, post Prime Minister’s speech in the parliament over Indian economy. Both the indices gained over 1.15% on today’s trade, Nifty ended at 5471.80 up by 62.75 points while Sensex ended at 18619.72 up by 218.19 points.

PM said that the fundamentals of the Indian economy remained strong and emphasised the bright side of a weaker currency - more competitive exports that he predicted would be further boosted by better performance in the global economy.

Jindal Steel dropped on lower-than-expected buyback offer price announced by the company. The board decided to buyback shares at upto Rs 261 per share while analysts had expected it at around Rs 300 apiece. JSPL tumbled 22% till yesterday in the august month.

Among the sectoral indices CNX Dividend Opportunity (2.11%), CNX PSU Bank (2.00%) and CNX Pharma (1.92%) were top gainers. Meanwhile CNX Metal (-2.06%) was the biggest loser.

Out of the 50 stocks of Nifty 28 stocks ended in positive terrain while 22 stocks ended in negative.
 
Top 5 Nifty gainers: Bajaj Automobile (5.26%), CIPLA (5.05%), TCS (4.26%), HDFC (4.24%) and HUL (4.20%) were among top gainers.

Top 5 Nifty losers: Jindal Steel (-9.22%), Grasim (-3.16%), Ranbaxy (-2.63%), Tata Steel (-2.53%) and Hindalco (-2.43%) were top index losers.

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Thursday 29 August 2013

Daily Equity Market Report – August 29, 2013

Indian equity markets made smart gain, zooms over 2% on the expiry of F&O contract of august series led by recovery in rupee against US dollar. Oil & gas, capital goods and metal stocks managed to keep the market strong on today’s trading session. Nifty ended the day at 5409.05 up by 124.05 points while Sensex ended at 18401.04 surged 404.89 points.

The rupee rebounded on Thursday from a record low after the Reserve Bank of India's move to provide dollars directly to oil companies provided relief to the currency, while a recovery in emerging market currencies also offered support. INR recovers to 66.85 from the all time low of 68.80.

Reliance and its partner BP won approval to invest USD 3.18 billion in R-Series gas field in the flagging KG-D6 block, reports PTI.

Among the sectoral indices CNX Infra (3.01%), CNX Energy (2.97%) and CNX Metal (2.71%) were top gainers while CNX PSU Bank (-0.46%) was only loser of the day.

Out of 50 stocks of Nifty 38 stocks ended in green while 12 stocks ended in red.

Top 5 Nifty gainers: Sesa Goa (12.83%), Hindalco (5.78%), HDFC (5.73%), LUPIN (5.10%) and Kotak Bank (4.92%) were among the top Nifty gainers.

Top 5 Nifty losers: PNB (-2.05%), Ultra Cement (-1.96%), Coal India (-1.54%), Infosys (-1.36%) and SBI (-1.06%) were top laggards.

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Wednesday 28 August 2013

Daily Equity Market Report – August 28, 2013

After a steep fall in the morning trade Indian equity market posted a smart recovery. Indian markets were extremely volatile throughout a day tracking the weakness in the rupee. Nifty recovered over150 points from day's low after taking support at 5,126 level. Sensex ended the day at green zone at 17,996.15 up by 28.07 points while Nifty ended at 5,285.00 down by just 2.45 points.

The rupee record fall against the US dollar continues to hog the limelight, INR hits the all time low of 68.75. The rupee is down more than 7.5 per cent this week and more than 13 per cent in August alone.

Gold prices zoomed to a record high of Rs 34,500 per ten gram with a biggest ever single day surge of Rs 2,500 in opening trade in bullion market today amid the rupee hitting historic low of 68.75 a dollar.

Cairn India shares jumped in afternoon trade on rise in crude oil prices in international market and fall in rupee. Oil prices crossed the $117 per barrel, amid worries a possible military strike against Syria may raise tensions in the Middle East.

Among the sectoral indices CNX IT (2.50%), CNX Metal (1.57%) and CNX Pharma (1.18%) were top gainers while CNX Media (-2.77%) was the biggest loser.

Out of 50 stocks of Nifty 24 stocks advanced and 26 stocks declined.

Top 5 Nifty gainers:  Ranbaxy (9.94%), Cairn (5.23%), JP Associate (4.00%), Tata Power (3.76%) and HCL (3.61%) were top gainers.

Top 5 Nifty losers: BPCL (-8.14%), PNB (-6.14%), Ultra Cement (-5.91%), ONGC (-5.51%) and Axis Bank (-5.32%) were top losers.

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Tuesday 27 August 2013

Daily Equity Market Report – August 27, 2013

Dalal Street witnessed the blood bath as Indian equity benchmark indices dove over 3% in intraday trade today. The crash in the Rupee against US Dollar sent the shivering through the spine of stock markets. The BSE Sensex plunged over 600 points and ended below the key 18,000 mark at 17,968.08 whereas the Nifty ended at 5,287.45 levels, down by 190 points.

The rupee fell around 2.8 per cent as compared to Monday's close of 64.30. It made a new low at 66.08 surpassing previous record low of 65.56 hit just last week. The rupee posted its biggest single-day decline in 23 months led by strong month-end dollar demand from importers.

Technology stocks remained on buyers' radar as the rupee depreciation will help these IT software services exporters to report better earnings in Q2.

Passage of Food Security Bill was another big overhang on markets and rupee, as most analysts feel that it will have negative impact on fiscal deficit number.

Among the sectoral indices, CNX Finance (-6.06%), Bank Nifty (-5.37%), CNX Infra (-4.73%) and CNX Realty (-4.28%) were top laggards while CNX IT (0.22%) was only gainer of the day.

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

Top Nifty gainers: Infosys (1.03%), Dr. Reddy (0.98%) and HCL (0.05%) were only gainers of the day.

Top Nifty losers: IDFC (-16.15%), BHEL (-10.65%), IndusInd Bank (-8.69%), JP Associate (-8.68%) and HDFC Bank (-7.44%) were top index losers.

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Monday 26 August 2013

Daily Equity Market Report – August 26, 2013

Indian equity markets witnessed the volatile session throughout the day and remained positive for the third consecutive day. Nifty crossed the 5500 level but not able to hold the level as trader booked their profit. Nifty ended the day at 5,470.45 down by 1.30 points while Sensex ended at 18,558.13 up by 38.69 points.

Sesa Goa jumped as the stock saw effective buying today due to Sterlite delisting. Its weightage in the Nifty will go up and Sesa Goa will also replace Sterlite in the Sensex from Tuesday.

IDFC loses as the RBI notified the decreased FII limit in the company to 54 percent from 74 percent.
Among the sectoral indices CNX Media was up by 1.57% followed by CNX MNC (1.49%) and CNX Realty (1.48%) while Bank Nifty plunged -1.02%.

Out of 50 stocks of Nifty 30 stocks advanced while 20 stocks declined.

Top 5 Nifty gainers: Sesa Goa (9.93%), BHEL (6.03%), JP Associate (4.87%), Ranbaxy (4.38%) and Ambuja Cement (3.38%) were among top nifty gainers.

Top 5 Nifty losers: IDFC (-8.77%), Axis Bank (-5.15%), ONGC (-3.63%), Gail (-3.22%) and ICICI Bank (-2.47%) were top laggards.

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Friday 23 August 2013

Daily Equity Market Report – August 23, 2013

Indian equity markets maintained its upward journey with the equity benchmarks gaining more than one percent, aided by private banks, oil & gas, auto and capital goods stocks. Indian Rupee also pared its intraday losses on the back of gains in the equities. The partially convertible Rupee was at 64.07/Dollar, up 48 paise, against its previous close of 64.55. Broader 50-share NSE index Nifty extended short-covering led pull-back rally for second straight day and closed at 5471.75, up by 63.30 points (1.17%), while Sensex successfully surpassed the 18500 level surging by 206.50 points and wrapped up the session at 18519.44 (1.13%).

Though global financial services major HSBC has downgraded Indian equities from "overweight" to "neutral" citing that the country would struggle to defend a falling currency and declining growth. According to HSBC, the volatility in Indian market since May can be attributed to the initial talk about tapering of bond purchase by the US Federal Reserve but the catalyst for recent volatility in Indian equities was when policymakers decided to tighten liquidity to stem capital outflows. JP Morgan already downgraded Indian shares to "neutral" from "overweight", citing strain in balance of payments.

All the sectoral indices, except CNX Realty (-2.02%) and CNX Media (-0.14%), closed in positive terrain and Bank Nifty emerged as the largest gainer surging by 2.17%. Rally across the market is further followed by CNX Finance (1.76%), CNX Auto (1.72%), CNX IT (1.49%), CNX PSE (1.40%), CNX Energy (1.28%), CNX Service (1.26%) and CNX Metal (1.20%).

Market breadth remained positive as 743 stocks on NSE rose against 414 declined while 77 remained unchanged.

Out of 50 stocks of Nifty index, 32 advanced against 18 declined.

Top Five Nifty gainers: Among Nifty gainers, BHEL topped the chart and registered 8.10% gain and joined by Tata Power (5.09%), HCL Technologies (5.06%), J P Associate (4.20%) and Jindal Steel (3.64%).

Top Five Nifty Losers: Continuing the slide on second straight day, DLF shed again the most on and fell by -4.87% and followed by UltraTech Cement (-3.58%), Sesagoa (-2.21%), Bharti Airtel (-1.73%) and Cipla (-1.35%).

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Thursday 22 August 2013

Daily Equity Market Report – August 22, 2013

After incurring massive losses in previous trading sessions, Indian equity markets ended the day with handsome gains after picking up the momentum on the back of short coverings in banks, metals, oil & gas and technology stocks. The Rupee also recovered sharply from day's low as buying activity in equities picked up. Nifty leaped its intraday range with investors lapping up stocks in late afternoon trade and rose above key psychological level of 5400 mark by closing at 5408.45 (2.00%) up by 105.90 points, while Sensex also reclaimed its 18000 level zooming by 407.03 points and wrapped up the session at 18312.94 (2.27%).

It was a good day for the market. The Indian Rupee recovers from the all time low of 65.56/USD on some dollar selling by exporters and FIIs. Improvement in global sentiment also helps as metals and oil & gas stocks rallied on account of strong Chinese PMI data and a possible diesel price hike.

Shares of banking stocks staged a sharp recovery from day's lows after reports came in that in a move aimed at arresting the rise of Non-Performing Assets (NPAs) on bank balance sheets, the Finance Ministry, along with the RBI, is planning a regulatory overhaul of guidelines governing NPA recognition. This move is seen as a near term positive for banks and infrastructure stocks especially PSU banks and private banks such as Axis Bank and ICICI Bank have high exposure to infrastructure sector.

Among sectoral indices, CNX Metal surged by 7.54% gaining the most and followed by CNX Commodities (4.01%), CNX PSE (3.38%), CNX Energy (3.21%), CNX Pharma (2.76%), CNX IT (2.42%) and CNX Infra (2.35%). CNX Media was the most loosing index as plunged by -1.19% and other indices closing in red terrain were CNX Realty (-0.53%) and CNX Finance (-0.38%).

Market breadth remained positive today as 715 stocks on NSE rose against 456 declined while 72 remained unchanged.

Out of 50 stocks of Nifty index, 44 advanced against 6 declined.

Top Five Nifty gainers: Ranbaxy topped the Nifty Gainers chart and registered 16.02% gain and joined by Sesagoa (13.09%), Hindalco (11.04%), Reliance Infra (10.15%) and Tata Steel (10.01%).
 
Top Five Nifty Losers: DLF shed the most on Nifty losers list falling by 4.06% and followed by HDFC (-1.45%), HDFC Bank (-0.73%), Axis Bank (-0.66%) and ACC (-0.63%).

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Friday 16 August 2013

Daily Equity Market Report – August 16, 2013

Indian financial markets witnessed a bloodbath today hence again proving the ‘Black Friday’ fiasco in relation to the markets. Both the benchmark indices shed their gains of previous four straight trading sessions of bull run in a single trading session today tracking weakness in the Rupee. The sharp selloff in the market is on account of unwinding of positions by foreign funds, as FIIs are increasingly witnessing erosion of wealth due to continuous slide of the Rupee to historic lows virtually every week. As per market experts, with losses mounting because of Rupee weakness, FIIs have been forced to book their losses.

Nifty continued witnessing intense selling pressure from the start of the day and briefly breached 5,500 level as institutional investors booked profits and fell down by 234.45 points or -4.08% and ended the day at 5507.85. Sensex also snapped its past four-day winning streak and tanked by 769.41 points and closed at 18598.18 down by -3.97%.

Today's selloff, however, was triggered by the RBI's latest move to defend the Rupee announced on Wednesday about restrictions of how much its citizens and companies can invest abroad to reduce pressure on the Rupee. But, traders fear the capital restrictions could adversely impact company profits and could lead to stronger capital restrictions that would scare off foreign investors at a time when the expected tapering of U.S. monetary stimulus is already creating uncertainty in emerging markets.

All the sectoral indices faced the wrath of the market and led by rate sensitives towards the center of the earth. CNX Realty was the biggest loosing indices with -6.66% and followed by Bank Nifty (-5.74%), CNX Metal (-5.47%), CNX PSU Bank (-5.38%), CNX Finance (-5.27%), CNX PSE (-4.67%), CNX Commodities (-4.55%) and CNX Infra (-4.51%).

Market breadth remain completely one-sided today in negative terrain with only 190 stocks advancing as against 997 stocks decline on NSE with 54 stocks remaining unchanged.
Out of 50 stocks of Nifty 3 stocks advanced against 47 declined.

Top 5 Nifty gainers: There were only three stocks advancing in Nifty with Hero Moto Corp. (2.17%) gaining the most and joined by Power Grid (1.13%) and HCL Technologies (0.20%).

Top 5 Nifty losers: J P Associates topped the losers chart by registering loss of -11.09% and followed by BHEL (-10.92%), Axis Bank (-9.36%), Bank of Baroda (-8.63) and Reliance Infra (-8.52%).

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Tuesday 13 August 2013

Daily Equity Market Report – August 13, 2013

Indian equity benchmark indices continued their northward momentum today also and registered overall gain of approx 1.5% each. Nifty breached the psychological level of 5700 in the last half an hour of trade but managed to end the day at 5699.30 up by 86.90 points while Sensex successfully traded over the psychological barrier of 19000 and closed at 19229.84 up by 282.86 points. The government measures to curb CAD by increasing import and excise duty on gold and silver provided support to the markets and the Rupee as well.

Import duty on gold and platinum has been increased to 10% from 8% earlier while import duty on silver has been hiked to 10% from 6% as compared to earlier. The government increased excise duty on refined gold bars to 9% from 7%. It has also hiked excise duty on silver made from ore to 8% from 4%.

The Indian Rupee strengthened against the US Dollar intraday on the back of inflows from FIIs. The partially convertible Rupee was at 61.02, up 25 paise, against previous close of 61.28 per Dollar.

All the sectoral indices, barring CNX Metal (-0.12%), closed in the positive terrain with realty, banks, auto and technology stocks leading the up move. CNX Realty (5.04%) carried the baton and supported by CNX Finance (2.87%), Bank Nifty (2.82%), CNX Service (2.49%), CNX Media (2.31%) and CNX Auto (2.20%).

Market breadth was positive on the NSE with 631 gainers against 280 losers and 35 unchanged.
Out of 50 stocks of Nifty 42 stocks advanced while 8 stocks declined.

Top 5 Nifty gainers: DLF (9.34%), Ranbaxy (8.86%), Axis Bank (7.77%), J P Associates (5.25%) and IDFC (4.48%) were top index gainers.

Top 5 Nifty losers: Hindalco (-3.24%), Coal India (-2.15%), Ambuja Cement (-1.99%), Cairn India (-1.08%) and ONGC (-0.95%) were top index losers.

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Monday 12 August 2013

Daily Equity Market Report – August 12, 2013

Both the benchmark indices, Sensex and Nifty rallied today and were led by small-cap and mid-cap stocks on the back of strong opening of Rupee against USD. Though both the indices lost the momentum and pared the gains in last one and half-an hour following weak Q1 result by India’s largest lender SBI, announced by 2:00 PM. According to dealers, the market is awaiting cues from IIP and CPI data for direction. Nifty closed above the 5600 mark, up by 46.75 points (0.84%) at 5612.40 and Sensex also end the day at 18946.98, up by 157.64 points (0.84%).

Market heavyweight SBI disappointed the street with the first quarter net profit falling higher-than-expected nearly 14% y-o-y to Rs. 3,241 crore, dented by higher provisions against bad loans and muted growth in the net interest income, which grew just by 3.5% to Rs. 11,512 crore in April-June quarter from Rs. 11,119 crore. Gross NPA increased 19% sequentially to Rs. 60,891 crore and net NPA jumped 36.6% Q-o-Q to Rs. 29,989 crore during April-June quarter.

Tech Mahindra rose more than 2% after higher-than-expected earnings during April-June quarter. The company also increased FII investment limit to 45 from 35%. HDFC shares rallied nearly 5%, while ONGC, ahead of its earnings, rose more than 2%.

Thematic indices led the rally today and CNX Smallcap was the highest gainer by 2.66% followed by CNX Midcap 50 (1.85%) and all the other indices closing in green.

Among sectoral indices today, CNX Metal led the charge by gaining 4.48% and followed by CNX FMCG (2.39%), CNX Commodity (1.90%), CNX Pharma (1.89%) and CNX PSE (1.79%). Banking indices faced the brunt of poor results by SBI and CNX PSU Bank (-1.53%) and Bank Nifty (-1.07%) was the most losing index on NSE.

Market breadth was positive on the NSE as 672 stocks advanced against 231 declined and 25 remain unchanged.

Out of 50 stocks of Nifty index, 33 registered growth while 17 declined.

Top Five Nifty Gainers: Jindal Steel led the Nifty Gainers chart and excelled by 9.09% followed by Tata Steel (7.68%), Sun Pharma (7.13%), NMDC (6.58%) and Hero Moto Corp (3.56%).

Top Five Nifty Losers: SBIN disappointed with result and lost -4.02% and accompanied by Tata Power (-3.28%), Reliance (-2.73%), Indus Ind Bank (-2.01%) and PNB (-1.79%).

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Thursday 8 August 2013

Daily Equity Market Report – August 8, 2013

Indian equity benchmark indices changed the downward streak today and registered overall gain after 2 consecutive trading sessions of heavy losses. Nifty trades over the psychological level of 5500 and ended the day at 5559.20 up by 40.10 points while Sensex ended the day at 18789.34 up by 124.46 points.

Ranbaxy surged more than 25% as its joint venture with Malaysian shareholders - Ranbaxy Malaysia Sdn Bhd (RMSB) - was allocated site for setting up a Greenfield manufacturing facility in Malaysia. Ranbaxy's dollar revenues were encouraging, with the U.S. business reporting a 25% sequential growth.

Jet Airways has reported a net loss of Rs 355.38 crore for the first quarter ended June 30, 2013, compared to a profit of Rs 24.7 crore in the same period a year-ago. Total income from operations declined to Rs 4,005.15 crore during the June quarter from Rs 4,587.27 crore in the year-ago period.
 
Among the sectoral indices CNX Metal (2.73%), CNX Realty (2.26%) and CNX Auto (1.78%) were among the top gainers while CNX PSU Bank (-1.40%), CNX Pharma (-0.31%) and CNX Energy (-0.09%) were top losers.

Out of 50 stocks of Nifty 38 stocks advanced while 12 stocks declined.

Top 5 Nifty gainers: Ranbaxy (28.60%), Hindalco (5.78%), CIPLA (5.73%), Tata Steel (5.72%) and DLF (4.27%) were top index gainers.

Top 5 Nifty losers: SBI (-3.60%), Sun Pharma (-3.08%), LUPIN (-2.92%), Dr. Reddy (-1.28%) and Reliance (-1.07%) were top index losers.

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Wednesday 7 August 2013

Daily Equity Market Report – August 7, 2013

Indian equity market witnessed the volatile session throughout the day. Market remained negative but marginally recovered its losses in the afternoon trade. Nifty held above its psychological level of 5500 and ended the day at 5519.10 down by 23.15 points while Sensex ended the day at 18664.88 down by 68.16 points.

Tata Motors on Wednesday reported a 23% year-on-year drop in consolidated net profit for the June quarter. Tata Motors' net profit fell to Rs. 1,726 crore on sales of Rs. 46,785 crore compared to net profit of Rs. 2,245 crore on sales of Rs. 43,324 crore in the corresponding quarter last year.

In contrast, margins at Tata Motors' Jaguar Land Rover unit for the June quarter grew to 16.5%. Net profit at JLR jumped 28.8 per cent to GBP 304 million against GBP 236 million.

Lupin's first quarter (April-June) net profit grew higher-than-expected 43% year-on-year to Rs 401 crore, but revenues rose below estimates 10% on yearly basis to Rs 2,476 crore.

Tata Power, which was the top loser with 15% loss in previous session on poor Q1 earnings, bounced back with 7% gains.

Among the sectoral indices CNX Realty surged by 5.58% followed by CNX PSU Bank (3.76%) and CNX Metal (3.15%) while CNX Auto was the biggest loser plunging -1.41%.

Out of 50 stocks of Nifty 25 stocks ended in positive terrain while 25 stocks in negative.

Top 5 Nifty gainers: Tata Motors (7.70%), DLF (6.79%), BPCL (6.12%), NDMC (5.43%) and Ranbaxy (5.24%) were among the top Nifty gainers.

Top 5 Nifty losers: LUPIN (-7.26%), HCL (-4.67%), HDFC (-3.46%), Sun Pharma (-3.01%) and Asian Paints (-2.82%) were top laggards.

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Tuesday 6 August 2013

Daily Equity Market Report – August 6, 2013

Dalal street witnessed the massive bloodbath today as Indian equity benchmarks slipped over 2% tracking the sharp Indian rupee fall. Nifty plunged to its lowest level since April 16 and ended the day at 5,542.25, sheds 143.15 points while Sensex tumbles 450 points and ended the day at 18,734.47.

The rupee dropped to an all-time record low of 61.80 per dollar in the afternoon session on fresh dollar demand from banks and importers amid weakness of dollar in the overseas market and fall in the equity market.

Tata Power shares crashed 17% after reporting a loss of Rs 115 crore in April-June quarter as against profit of Rs 145.9 crore in a year ago period on higher interest cost and forex woes. More than 15 lakh shares added on short side.

Among the sectoral indices CNX Realty tanks -4.61% followed by CNX Finance (-4.12%), CNX Media (-3.95%) and Bank Nifty (-3.88%). Other major sectoral indices also remained under selling pressure.

Out of 50 stocks of Nifty 4 stocks advanced and 46 stocks declined.

Top 5 Nifty gainers: Ambuja Cement (1.13%), Tata Motors (0.79%), Power Grid (0.48%) and TCS (0.20%) were only gainers.

Top 5 Nifty losers: Tata Power (-14.35%), Asian Paints (-7.34%), IndusInd Bank (-7.14%), BHEL (-7.08%) and BPCL (-6.69%) were among top losers.

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Monday 5 August 2013

Daily Equity Market Report – August 5, 2013

Indian benchmark indices pared its intraday gain as market remained volatile till the afternoon trade but ended the day on a flat note. Nifty struggles to remain above 5700 mark but ended the day at 5685.40 up by 7.50 points while Sensex closed at 19182.26 up by 18.24 points.

BHEL posted its worst percentage fall in nine years. Price of the share however hit its seven-year low after the power equipment maker posted nearly 50% declines in net profit.  BHEL reported a net profit of Rs 465.43 crore for the first quarter ended June 30, 2013 weighed down by lower sales. It had clocked a net profit of Rs 920.90 crore in the year-ago period.

After giving up over 70% last week, Financial Technologies witnesses a solid rebound and gained more than 33% today. In the latest development over the weekend, NSEL said 13 trading members will pay 5% of their outstanding obligations, a total of around Rs 3,100 crore, weekly, and eight members, with contracts amounting to almost Rs 2200 crore, would settle outright. 

Among the sectoral indices CNX Metal gained 2.34% followed by CNX Media (1.96%) and CNX PSU Bank (1.49%) while CNX Infra plunged -1.47% and was top loser of the day.

Out of 50 stocks of Nifty 31 stocks advanced, 18 declined and 1 remained unchanged.

Top 5 Nifty gainers: Jindal Steel (8.48%), JP Associate (5.56%), Ambuja Cement (5.05%), Sesagoa (4.92%) and Reliance Infrastructure (4.23%) were Nifty top gainers.

Top 5 Nifty losers: BHEL (-19.65%), Asian Paints (-4.86%), BPCL (-2.71%), Bharti Airtel (-2.40%) and Bajaj Auto (-2.11%) were among top losers.

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Friday 2 August 2013

Daily Equity Market Report – August 2, 2013

Indian equity market continued its southward momentum for 8th straight day and remained weak through the week.  Nifty slipped below its psychological level of 5700 and plunged 7% since July 23 2013. Nifty ended at 5677.90 down by 50 points while Sensex ended at 19164.02 tanks 153.17 points.

Banking stocks have come under huge selling pressure after the Reserve Bank raised short term rates. Private lender such as Yes Bank and IndusInd Bank that relied on bulk deposits has seen large cuts. Public sector lenders have reported deterioration in asset quality amid the massive slowdown in economy. Lenders like Bank of Baroda have shed over 10 per cent in the last two days. Bank of America Merrill Lynch downgraded PSU lenders like Bank of Baroda and Union Bank of India.
 
Power Grid Ltd plunged and hits the 52-week low on concerns over equity dilution fears after its board approved selling of 15% of existing paid-up share capital through a follow-on public offer.
 
Among the sectoral indices CNX IT (1.04%) surged on Rupee depreciation against dollar, INR is trading above 61 near to all time low. CNX realty (-4.06%), CNX Metal (-3.64%) and CNX Infra (-2.84%) was among the top losers.

Out of 50 shares of Nifty 15 shares advanced and 35 shares declined.

Top 5 Nifty gainers: Ranbaxy (4.06%), Cairn (2.60%), ACC (2.29%), Ambuja Cement (2.21%) and LUPIN (2.08%) were the Nifty top gainers.

Top 5 Nifty losers: Power Grid (-11.52%), JP Associate (-9.09%), Jindal Steel (-8.08%), DLF (-6.86%) and BOB (-5.84%) were top losers.

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Thursday 1 August 2013

Daily Equity Market Report – August 1, 2013

Indian benchmark indices pared its morning gain in the afternoon session due to nervousness among brokers after problem in National Spot Exchange Ltd. (NSEL). NSEL has been asked by the central government not to launch new spot contracts until the government finalizes a new regulatory framework. Nifty slipped below the psychological level of 5700 but managed to end above 5700 at 5727.85 down by 14.15 points while Sensex ended at 19317.19 down by 28.51 points.

Financial Technologies Ltd slipped over 60% in a single day to hit a five-year low, after the National Spot Exchange Ltd (NSEL) suspended trading of all contracts, other than e-Series, and deferred the settlement. Shares in Multi Commodity Exchange of India, another FT-promoted entity, plunged 20% in trade to hit their fresh 52-week low. 

The country's second largest private sector lender HDFC Bank has raised fixed deposit rates by 1% for maturities between 15 days to 6 months one day effective July 27. It has also increased the interest rate by 0.75% for maturity buckets less than 1 year but over 6 months one day.

Axis Bank has raised interest rate on term deposits with maturity between 14-29 days by 4% to 8%, while in case of 7-14 days the increase is by 3.5% to 7.5% on bulk deposits above Rs. 1 crore, effective today. At the same time, the bank raised interest rate by 0.5 to 2.25% across the various maturities less than one year but over 29 days.

Among the sectoral indices CNX Finance (1.36%), Bank Nifty (1.27%) and CXN Services (0.50%) were top gainers while CNX Realty (-4.36%), CNX PSU Bank (-3.56%) and CNX PSE (-2.45%) were top losers.

Out of 50 shares of Nifty index, 19 shares ended in green and 31 in red.

Top Five Nifty gainers: Axis Bank (5.62%), HDFC Bank (3.85%), HUL (3.19%), Kotak Bank (2.44%) and Powergrid (2.23%) were among top gainers of Nifty.

Top Five Nifty Losers: JP Associate (-9.82%), BOB (-8.61%), DLF (-8.51%), Ranbaxy (-8.29%) and BPCL (-6.19%) were among top losers of Nifty.

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