Daily Equity Market Report – September 30, 2013

Indian markets traded in negative terrain today following the weak global cues on fears of a possible shutdown of the US government. Both the benchmark indices witnessed selling pressure throughout the day which is only to become worse in last hour of the trading session. Both the indices, S&P CNX Nifty and S&P BSE Sensex, shed approximately 1.75%. 50-share broad-based index Nifty closed at 5735.30, down by 97.90 points while Sensex end the day at 19379.77, down by 347.50 points.

Investors across the globe from markets like Asia and Europe are worried over the US debt ceiling uncertainty and fears of a possible shutdown of the US government at midnight looms if the Republicans and the Democrats fail to reach a common ground on debt ceiling issue.

Whereas, in the domestic market, another important macro issue is playing its part as all eyes are set on the release of the June quarter CAD data expected this evening which determines if the government can manage to keep its full year fiscal deficit within its estimated USD 70 billion. According to analysts, weak Rupee and GDP contraction are likely to impact CAD and as per estimates India's CAD for 1Q FY14 is likely to be at $23 billion vs. $18.1 billion, Q-o-Q.

All the sectoral indices, except CNX MNC (0.06%) and CNX IT (0.02%) which somehow managed to end up in green zone, slumped today with rate sensitive stocks leading the fall fiasco. Bank Nifty loses the most on NSE and plunged by -2.85% and followed by CNX Finance (-2.63%), CNX Metal (-2.57%), CNX Realty (-2.48%), CNX Infra and CNX Media both (-2.35%), CNX PSU Bank (-2.10%) and CNX PSE (-2.01%).

Market breadth was negative on the NSE as 403 stocks advanced against 775 declined and 53 remain unchanged.

Out of 50 stocks of Nifty index, 9 registered growth while 41 declined.

Top Five Nifty Gainers: ACC Cement led the Nifty Gainers chart and excelled by 1.13% followed by Hindustan Unilever (0.97%), HCL Technologies (0.86%), BPCL (0.52%) and Lupin (0.20%).

Top Five Nifty Losers: NMDC loses the most among Nifty stocks and fell by -5.33% and accompanied by Tata Steel (-5.24%), J P Associates (-4.64%), ICICI Bank (-4.59%) and Coal India (-4.27%).

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Daily Equity Market Report – September 27, 2013

Indian financial markets closed on a weak note today on the start of the new F&O series. Both the benchmark indices continue to drag their feet in the afternoon trade on weakness in banks, metals, capital goods and realty stocks. Indices witnessed selling pressure and made continuous day's lows as profit booking picked up in absence of positive triggers to drive the market higher. Nifty breached the 5850 level and fell down by 49.05 points and ended the day at 5833.20 while Sensex tanked by 166.58 points and closed at 19727.27 shedding approx. 1% to the previous close.

Start of the new F&O series is seen with cautious approach by market participants and markets remained in consolidation mood. After the recent rally of previous F&O series, market valuations are being expected to de-rate from current levels, with limited macro triggers for the markets in the near term and declining corporate earnings.

Meanwhile, Barclays lowered India's FY14 GDP forecast for the current fiscal to 4.7%, saying the growth and fiscal health of the country are likely to remain under pressure, with 2014 election dynamics adding to uncertainties. India's economic growth had slumped to decade low of 5% in 2012-13. It had slid to 4.4% during April-June quarter, the lowest in past several years, pulled down by drop in mining and manufacturing output.

All the sectoral indices pursued the corrective momentum of the market led by rate sensitive stocks except CNX FMCG, CNX IT and CNX Pharma, which registered insignificant gains at the end of the day. Bank Nifty was the biggest loosing indices with -1.97% and chased by CNX Finance (-1.70%), CNX Infra (-1.63%), CNX PSU Bank (-1.59%), CNX Metal (-1.58%) and CNX Realty (-1.32%).
Market breadth remained in negative terrain all day-long with 522 stocks advancing as against 641 stocks decline on NSE with 64 remaining unchanged.

Out of 50 stocks of Nifty, 12 stocks advanced against 38 declined.

Top 5 Nifty gainers: BPCL led the gainers chart on Nifty today gaining the most (6.03%) and joined in by HCL Technologies (2.40%), Sun Pharma (1.62%), Coal India (1.20%) and Hero Moto Corp. (1.05%).

Top 5 Nifty losers: BHEL topped the losers list by registering loss of -5.61% and followed by J P Associate (-5.59%), Tata Steel (-4.52%), DLF (-2.99%) and Kotak Bank (-2.93%).

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Daily Equity Market Report – September 26, 2013

Indian equity markets continued its flattish ending streak after witnessing day-long volatile trading session on the expiry day. In last one and a half hour of the day, both the benchmark indices were seen leaping ahead and afterwards pared the gain again with a sharp dip. Nifty leaped beyond 5900 mark and touched the intra-day high of 5917.65 before closing at 5882.25 up by 8.40 points, while Sensex also tried to reclaim 20000 level and made the intra-day high of 1997.28 and wrapped up the session at 19893.85 up by 37.61 points.

Market showed no sign of recovery in the last hour of trading before the September series expiry. Nifty ended the September series up 8.7% while the Sensex was up 8.2%. More than Rs. 12,500 crore worth of foreign money, initiatives of Mr. Raghuram Rajan and continuation of monthly fiesta of USD 85 billion bond buying by Fed drove this series rally.

Among sectoral indices, CNX Pharma surged by 0.86% gaining the most and followed by CNX FMCG (0.61%), CNX Metal (0.50%) and CNX Finance (0.47%). On the other hand, CNX Energy was the most loosing index as plunged by -0.87% and joined in by CNX Realty (-0.70%), CNX PSU Bank (0.64%) and CNX MNC (-0.42%).

Market breadth remained like a mixed bag today as 610 stocks on NSE rose against 533 declined while 82 remained unchanged.

Out of 50 stocks of Nifty index, 22 advanced against 27 declined and 1 remained without any change.

Top Five Nifty gainers: BHEL topped the Nifty Gainers chart and registered 5.59% gain and joined by Tata Steel (3.50%), J P Associate (3.35%), Coal India (2.85%) and Sun Pharma (2.28%).

Top Five Nifty Losers: Jindal Steel shed the most on Nifty losers list falling by -3.27% and followed by Ambuja Cement (-2.59%), PNB (-2.22%), GAIL (-1.94%) and Reliance Infra (-1.62%).

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Daily Equity Market Report – September 25, 2013

Indian equity benchmark indices witnessed increasing volatility today in the market ahead of September series expiry. Both the flagship indices of India Inc. pared most of the intraday losses as traders covered some short positions ahead of the expiry of September F&O series. During the day, Nifty was seen as breaching the 5800 mark but pulled back successfully and managed to end the day up by 18.60 points by closing at 5873.85. Sensex also recovered from the day’s low and closed at 19856.24 up by 63.97 points.

The Nifty was extremely choppy towards close of the session after recouping losses and recovered nearly 75 points from day's low and the Sensex nearly 230 points from day's low. Bank Nifty, which caused the downward move in the market today, also recovered nearly 175 pts from day's low. According to dealers, the market may move higher to close in the positive territory. Power, pharmaceuticals, PSU banks and capital goods led the up-move while FMCG, oil & gas and rate sensitive stocks led the decline.

Among sectoral indices, CNX Media (2.60%) led the gainers and accompanied by CNX PSU Banks (1.76%), CNX Infra (1.59%), CNX Pharma (1.32%), CNX PSE (1.21%) and CNX Metal (1.12%). Among the losers, CNX FMCG plunged most (-1.00%) and followed by CNX Finance (-0.99%), Bank Nifty (-0.93%) and CNX Energy (-0.91%).

Market breadth remained negative all day long on the NSE with 358 gainers against 502 losers and 40 remaining unchanged.

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

Top 5 Nifty gainers: BHEL today took the baton and charged the rally at Nifty by gaining 8.91% and chased by Sesagoa (4.34%), Hindalco (3.75%), SBIN (2.86%) and NTPC (2.51%).

Top 5 Nifty losers: BPCL emerged as most losing stock on the Nifty plunging by (-3.28%) and followed by Reliance (-3.21%), HDFC Bank (-2.91%), M&M (-2.81%) and DLF (-2.64%).

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Daily Equity Market Report – September 24, 2013

After following a volatile trading session for almost entire day, Indian benchmark indices became lackluster and closed on a flat note today as investors paused aggressive selling seen in the last two sessions triggered by Raghuram Rajan’s maiden credit policy. The broad based index Nifty closed at 5892.45 up by 2.70 points while Sensex closed at 19920.21 up by 19.25 points.

Investors look directionless in the expiry week as trading was extremely volatile today. Amid volatility, capital goods and auto stocks are lending support to the market. Though Rupee recouped some losses on the back of Dollar sales by corporates and foreign banks for their clients, yet Dollar purchases by importers weighing heavily on the rupee.

Sectoral indices also shown this indecisiveness and witnessed mixed trends. CNX Auto led the gainers by advancing 1.17% and joined in by CNX Media (1.09%), CNX Infra (0.60%) and CNX Consumption (0.49%). On the other hand, CNX Metal dragged the market and plunged by -1.13% and followed by CNX PSU Bank (-0.78%), CNX IT (-0.39%) and Bank Nifty (-0.35%).

Market breadth on the NSE also witnessed some balancing acts with 523 gainers against 631 losers with 71 remaining unchanged.

Out of 50 stocks of Nifty, 23 advanced and 26 declined and 1 remained without any change.
 

Top Five Nifty gainers: Bajaj Auto topped the Nifty gainers chart today gaining by 2.80% and followed by Tata Power (2.72%), NTPC (2.03%), Larsen & Toubro (1.97%) and Cipla (1.68%).

Top Five Nifty Losers: Today Hindalco was the biggest loser on the Nifty and plunged by -3.65% chased by BPCL (-2.60%), Coal India (-2.48%), Jindal Steel (-2.04%) and ACC (-1.90%).

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Daily Equity Market Report – September 23, 2013

Both the benchmark indices of India Inc., Sensex and Nifty extended losses for the second straight trading session as sentiment turned bearish after the RBI hiked repo rate to contain inflation last Friday as the markets entered in the expiry week. It seems as though the RBI policy has washed away all the optimism from the market.

Selling pressure intensifies with the Nifty cracking more than 2% on the back of disappointing global markets and fears of more rate hikes at home. The Nifty slumped below the crucial 5900-mark to close at the day's lows at 5889.75 down by 122.35 points and the Sensex ended down 362.75 points or 1.79% to end at 19900.96.

Market maintained its southward journey since the start of the day with most of the sectoral indices losing more than 2%, weighed down heavily by rate sensitive stocks. Oil & gas, realty, auto, capital goods and telecom sectors were also under pressure. Financial stocks took a beating with Bank Nifty losing 1,000 points in the last two sessions. Weakening of Rupee against the Dollar also added to the misery.

CNX PSU Bank was the biggest loser among the sectoral indices plunging by -5.70% and followed by CNX Realty (-4.49%), Bank Nifty (-4.45%) and CNX Finance (-3.93%). CNX IT (0.83%) and CNX Metal (0.18%) were the only indices registering the gain today.

Market breadth was negative on the NSE as 412 stocks advances against 772 declines and 53 remained unchanged.

Out of 50 stocks of Nifty index, 9 stocks gained while 40 declined with 1 remaining without any change.

Top Five Nifty gainers: Sesagoa led the Nifty Gainers list and excelled by 2.92% and accompanied by HCL Technologies (2.85%), Hindalco (1.80%), Hero Moto Corp. (1.28%) and Dr. Reddys (1.26%).

Top Five Nifty Losers: Realty and banking stocks topped the Nifty losers chart today with Bank of Baroda losing the most today by -7.33% and followed by DLF (-7.03%), Axis Bank (-6.56%), IndusInd Bank (-6.44%) and J P Associates (-6.12%).

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Daily Equity Market Report – September 20, 2013

The party on the Dalal Street came to an end after the RBI Governor in a surprising move announced hike in interest rates and increased the repo rate by 25 basis points to 7.5% from 7.25% and reverse repo report to 6.5% from 6.25%. Reacting to the news, benchmark indices wiped out majority of gains made in the previous session on Thursday with rate sensitive stocks leading the decline. The 50-share index closed at 6,012.10, down 103.45 points or 1.69% and touched intraday high of 6,130.95 and a low of 5,932.85. The S&P BSE Sensex closed at 20263.71 down by 382.93 points declining by 1.85%.

The RBI decision to hike the repo rate came as a nasty surprise for equity investors, who were expecting the new governor to take a positive view of the economy. The S&P BSE Sensex cracked over 500 points, while the 50-share Nifty index slipped below its crucial psychological support level of 6100 in trades by plunging around 3%. But off day’s lows the market appeared to be somewhat convinced by newly appointed RBI governor Raghuram Rajan’s defense of the 25 basis point repo rate hike.

Yet, the mood appeared sour as investors see interest rates climbing near term because of the RBI’s renewed war on inflation. Bank and realty shares were the worst performers as these sectors are most sensitive to interest rate movements. Except CNX Pharma (0.20%) all the other sectoral indices faced the brunt of harsh reality of the economy and leading among the losers was the CNX Realty (-7.47%) followed by CNX PSU Bank (-4.35%), Bank Nifty (-4.14%), CNX Finance (-3.33%) and CNX Service (-2.14%).

Market breadth was totally in contrast to the yesterday’s picture on NSE as 362 stocks gained against 810 declined and 64 remained unchanged.

Out of 50 stocks of Nifty index, 20 advanced and 30 declined.

Top Five Nifty gainers: Reliance Infrastructure (5.16%), Ultra Cement Co. (5.00%), GAIL (4.19%), HCL Technologies (3.65%) and Ambuja Cement (3.31%) were among the top Nifty gainers.

Top Five Nifty Losers: While realty and banking stocks faced the heat today, DLF was the biggest Nifty loser today plunging by -11.99% and followed by PNB (-7.51%), Bank of Baroda (-5.43%), IndusInd Bank (-5.16%) and J P Associates (-5.07%).

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Daily Equity Market Report – September 19, 2013

The unexpected decision by the US Federal Reserve to keep its monetary stimulus unchanged jolted financial markets, sending stocks and commodities sharply higher. Markets cheered the US Federal Reserve’s decision on continuing bond purchases, lifting the benchmark indices, Sensex and Nifty approx. 3.5% higher. The 50-share index Nifty posted its highest close since May 30 and hit a 3.5-month high and closed above the 6100 mark at 6115.55 up by 216.10 points. Sensex also rallied over 700 points to touch its highest level in 34-months and ended at 20,646.64, up 684.48 points for the first time since November 10.

The US Federal Reserve said that it would continue buying bonds at an $85 billion monthly pace for now, surprising financial markets that were braced for a reduction in the central bank's economic stimulus. Market analysts cautioned that the rally would not sustain because of the fragile macro-economic environment, but admitted that liquidity, and not fundamentals, would be the driving factor in the short term.

Bank stocks were the star performers of the day, on hopes that the RBI would ease some of the liquidity curbs it had placed in July to protect the rupee. The market is now keenly awaiting the RBI’s monetary policy on Friday.

Shares of Reliance Communications and Adani Enterprises also gained 10-12% as these companies have huge un-hedged forex debt. As a result, the recent appreciation in the rupee will undo much of the marked-to-market losses these companies had suffered in August when the rupee came close to touching 69 to the dollar.

All the sectoral indices today took part in the ceremonial march-past cheering up the US Fed decision except CNX IT (-0.03%) which plunged in the last half an hour of the trading session. CNX PSU Bank (8.25%) led the rally and followed by Bank Nifty (6.71%), CNX Realty (5.86%), CNX Finance (5.85%) and CNX Infra (4.61%).

Market breadth remained all day positive on the NSE and at closing hours 837 stocks advanced against 335 declined and 65 remain unchanged.

While out of 50 stocks of Nifty index, 47 registered growth against 3 declined.

Top Five Nifty Gainers: Banking stocks led the Nifty Gainers chart and PNB topped the list excelling by 9.20% followed by Bank of Baroda (9.12%), J P Associate (8.86%), Kotak Bank (8.08%) and SBIN (8.05%).

Top Five Nifty Losers: There were only three stocks on the Nifty to end up at losing side with HCL Technologies disappointing the most and losing -0.66% and accompanied by Infosys (-0.24%) and Coal India (-0.13%).

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Daily Equity Market Report – September 18, 2013

Indian equity markets remained range bound almost all the day as investors were cautious ahead of the FOMC meeting outcome later tonight. But in last one hour of the trading session both the indices witnessed a sharp pull-back on the back of short-covering rally ahead of the US Federal Reserve meet and breached their respective psychological levels. The broad-based index Nifty rose by 49.25 points and closed at 5899.45 up 0.84%, while Sensex, zooming by 158.13 points wrapped up the session at 19962.16 up 0.80%.

The Indian currency opened the day at 63.25 per dollar, slightly stronger than Tuesday’s close, and has since gained further ground against the greenback. A weak dollar as well as the recent RBI measures are said to be propping up the rupee today. Global markets gain as well, as investors await the conclusion of the Federal Reserve's Monetary Policy meeting. Key Asian indices end the day in the green. European markets edge higher and the US futures indicate a positive opening for Wall Street.

All the sectoral indices ended the day in the green terrain today except the CNX Metal, which remained unchanged after the day-long volatility and closed at previous day’s level. Today’s pull back rally was led by the interest rate sensitive stocks; CNX PSU Bank being the largest surging index by 2.35% followed by CNX Realty (2.09%) and Bank Nifty (1.64%).

Market breadth remained positive today as 601 stocks rose against 564 declined while 66 remained unchanged.

Out of 50 stocks of Nifty index, 36 advanced and 14 declined.

Top Five Nifty gainers: DLF led the Nifty Gainers list and registered 4.91% gain and joined by NTPC (4.00%), Tata Power (3.97%), Grasim (3.72%) and Bank of Baroda (3.31%).

Top Five Nifty Losers: BHEL was the biggest loser of the day and fell by -4.43% and followed by Hero Moto Corp (-2.95%), Sesagoa (-1.55%), Cairn (-1.39%) and NMDC (-0.97%).

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Daily Equity Market Report – September 17, 2013

Indian benchmark indices managed to end in the green zone after a lackluster trading session today. The market traded in a very narrow range throughout the day as it is waiting for direction from FOMC & RBI policy that will take place later this week. The market appears to be in a consolidation phase today with the equity benchmarks hovering around their previous closing values and today is the fifth day of consolidation for the market. After a tepid opening, the Nifty is up 9.65 points or 0.17% and closed at 5850.20 and the Sensex is up 61.56 points or 0.31% ending at 19804.03.

Nifty witnessed some buying activity in the last half an hour of trade and hit fresh intraday high before closing at 5,850 level. Technology, metals, FMCG and auto sectors led the up move while realty and power stocks remained subdued.

The US Federal Reserve's two-day policy meeting starts today. Economists expect the Fed to reduce its asset purchase programme by USD 5-10 billion dollars a month. Global markets turn cautious looking ahead while in case of RBI, analysts do not see any move on policy rates.

Sectoral indices also witnessed this directionless movement and led by technology stocks fuelled by weak Rupee. CNX IT was the biggest gainer of the day with 1.71% and followed by CNX MNC (1.03%), CNX Metal (0.85%), CNX FMCG (0.67%) and CNX Auto (0.65%). Interest rate sensitive stocks faces the worry of policy actions awaited and CNX PSU Bank was the top amongst loosing and fell by -1.39% and followed by CNX Finance (-0.89%), Bank Nifty (-0.86%), CNX PSE (-0.77%) and CNX Energy (-0.75%).

Market breadth remains on the negative side today as most of the time market ventured in negative terrain. On NSE, there were only 487 stocks advanced as against 681 declined and 67 stocks remaining unchanged.

Out of 50 stocks of Nifty 29 stocks advanced against 21 declined.

Top 5 Nifty gainers: HCL Technologies topped the gainers chart today on the Nifty by registering 4.20% growth and accompanied by Dr. Reddy (3.37%), Ranbaxy (3.28%), Ultra Cement Co. (2.93%) and Jindal Steel (2.42%).

Top 5 Nifty losers: Sun Pharma was the biggest Nifty stock on the loser side today by registering loss of -3.71% and followed by Bank of Baroda (-3.66%), Axis Bank (-3.20%), IndusInd Bank (-3.00%) and ONGC (-2.61%).

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Daily Equity Market Report – September 16, 2013

After opening above the previous trading day’s close over 1%, Indian equity market remained choppy throughout the trading session and ended the day on flat note. Sensex ended the day at 19,742.47, up by just 9.71 points while Nifty ended in negative territory at 5,835.05, down by 15 points.

WPI inflation jumps to 6-month high at 6.10% in August vs. 5.79% of July, led by rising food and fuel prices. June inflation was revised higher to 5.16% from 4.86% reported earlier. All eyes are now on RBI's September 20 monetary policy.

Ranbaxy plunged after the US Food and Drug Administration (USFDA) issued import alert on the drug company's Mohali Unit. After the problems at Paonta Sahib and Dewas, the USFDA now has a problem per se with its unit at Mohali. There is more clarity yet required from the company itself in terms of what will happen to all of their big ticket drugs, which were expected to be launched especially in Q4 CY13.

Among the sectoral indices Bank Nifty (1.90%), CNX Finance (1.29%) and CNX Consumption (0.49%) were the top gainers while CNX Pharma (-2.48%) and CNX Realty (-2.33%) were top losers of the day.

Out of 50 stocks of Nifty 18 stocks ended in positive terrain and 32 stocks in negative.

Top 5 Nifty gainers: BPCL (3.88%), IndusInd Bank (3.75%), Maruti (3.50%), ICICI Bank (2.98%) and Bharti Airtel (2.87%) were top gainers.

Top 5 Nifty losers: Ranbaxy (-30.03%), BHEL (-5.11%), HCL (-4.95%), Ultra Cement (-4.12%) and SesaGoa (-3.94%) were top Nifty losers.

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Daily Equity Market Report – September 13, 2013

Indian equity markets witnessed the volatile session throughout the trading session ahead of the next week FOMC meeting on money tapering and RBI monetary policy. Sensex ended the day at 19,732.76 down by 49 points while Nifty ended at 5,850 down by just 0.10 points.

Industrial production (IP) rose by 2.6% y-o-y in July, above expectations, led by a surprise jump in two of the most volatile components of capital goods. Excluding capital goods, IIP rose a more muted 0.8% y-o-y in July versus -1.2% in June. Capital good shares gained after industrial production unexpectedly rebounded in July while consumer inflation cooled last month, Consumer Price Index (CPI) eased to 9.52% in August from 9.64% in July following softening in prices of almost all commodities, except vegetables. 

Among the sectoral indices CNX Realty moves 2.82% higher; CNX Infra ended 1.90% higher and CNX PSE was up by 1.89% while CNX IT ended at -1.18%. 

Out of 50 stock of Nifty 35 stocks advanced while 15 were in Red zone.

Top 5 Nifty gainers: BHEL (5.97%), DLF (5.13%), Axis Bank (4.21%), PNB (3.98%) and Reliance Infrastructure (3.77%) and were among the biggest gainers.

Top 5 Nifty losers: HCL (-2.64%), Ultra Cement (-2.32%), ITC (-1.87%), Tata Steel (-1.72%), ICICI Bank (- 1.65%) were among the top losers.

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Daily Equity Market Report – September 12, 2013

After the 5 consecutive northward trading sessions Indian benchmark indices witnessed the profit booking and plunged over 1% ahead of IIP and CPI data. Sensex fell down by 215.57 points and ended the today’s trading session at 19,781.88 and Nifty ended the day at 5,850.70 plunging 62.45 points. The Indian rupee also faltered and hovered around 64 per dollar mark.

JP Associates sheds as Jaypee group has sold its Gujarat cement unit to Ultratech Cement for Rs 3,800 crore. UltraTech will pay Rs 150 crore in stock, Rs 1,650 crore in cash and assume debt worth Rs 2,000 crore. Jaypee Group has said that the deal will help JP Associates reduce its outstanding debt by 15 percent.

Shares in IDFC surged after the Reserve Bank of India on Wednesday lifted restrictions placed on foreign investors purchasing shares of the company as their shareholding in IDFC fell below the prescribed limit. The company had reduced the limit that foreign investors can own in the infrastructure lender to 54 per cent from 74 per cent without giving a reason in August.

Among the sectoral indices CNX FMCG (0.74%), CNX Realty (0.52%) and CNX Pharma (0.12%) were only gainers of the day while CNX Metal (-2.61%), Bank Nifty (-2.03%) and CNX MNC (-1.95%) were top losers of the day.

Out of 50 stocks of Nifty 12 stocks ended in green, 37 ended in red and 1 remain unchanged.

Top 5 Nifty gainers: Tata Power (3.80%), IDFC (2.66%), ITC (2.32%), GAIL (2.03%) and Ranbaxy (1.18%) were index top gainers.

Top 5 Nifty losers: JP Associate (-11.98%), IndusInd Bank (-5.65%), Tata Steel (-4.48%), BHEL (-4.12%) and ONGC (-3.98%) were top index laggards.

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Daily Equity Market Report – September 11, 2013

Indian equity markets pared their intraday losses in the last hour trading session and ended the day in positive terrain on the back of FIIs buying on the lower levels. Sensex ended the day just below 20,000 level at 19,997 up by only 0.36 points while Nifty ended at 5,913.15 up by 16.40 points. 

Rupee gained for the 5^th consecutive day against dollar and hits the 3-week high since August 21. INR trading at 63.10 in the today’s trade tracking FIIs inflow in Indian equity markets. The foreign institutional investors bought shares worth Rs 2,563.6 crore while domestic institutional investors were net sellers worth Rs 1,398.05 crore on Tuesday as per the provisional data from the National Stock Exchange.

JP associate surged on the back of deal with Ultra Tech cement. JP Cement has struck a deal with Aditya Birla Group firm UltraTech to sell 51 per cent stake in the 5 million tonnes per annum Gujarat Unit for close to Rs 4,000 crore.

Among the sectoral indices CNX PSU Bank (5.33%), CNX Metal (3.15%) and CNX Realty (3.04%) were top gainers while CNX FMCG (-1.13%) and CNX Energy (-0.47%) were top losers.

Out of the 50 stocks of Nifty 30 stocks ended in positive zone, 19 in negative and 1 remain unchanged.

Top 5 Nifty gainers: BOB (8.19%), PNB (7.17%), DLF (5.84%), JP Associate (5.26%) and GRASIM (4.67%) were index top gainers.

Top 5 Nifty losers:  Powergrid (-3.08%), CAIRN (-2.83%), Tata Motors (-2.40%), ITC (-2.04%) and HUL (-1.92%) were top laggards.

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