Daily Equity Market Report – November 5, 2013

Shunning the ongoing week-long optimism that led to scaling new highs, Indian markets lost the momentum today and took a U-turn. Profit-booking was seen across all the market-cap segments by the traders. Market also lacked any cues from its global peers and bulls were seen pausing for a breather after a record-breaking impulse.

Both the benchmark indices snapped their five-days ascending streak and remained under pressure throughout the day while participants focused their attention towards mid-cap & small-cap stocks. The 50-share index Nifty slipped down below the 6300 level and closed at 6253.15, down by 64.20 points or -1.02%. It was a volatile session for Nifty as it scaled high of 6304.75 and low of 6244.30 in today's intra-day trades. The Sensex closed the day at 20974.79, down 264.57 points or -1.25%, sliding under the 21000 level.

Mid-cap and small-cap shares seen voluminous trades today and offered a better risk-reward trade off as compared to large-caps which have already run up a fair bit during past week as well as month. IT, health-care and consumption led stocks were the big losers today. These three sectors were the real driving force behind the recent rally, and investors are seen cashing out of these stocks as present valuations seem to be factoring in most of the positives.

Today market was dominated by the sectors closing in red barring a few; i. e. CNX Media (0.96%), CNX PSU Bank (0.42%) and CNX Realty (0.39%). Whereas, on the other hand South-ward slippage was led by CNX FMCG (-2.61%) and equally followed by CNX Pharma (-1.84%), CNX MNC (-1.44%), CNX IT (-1.13%), CNX Consumption (-1.01%), Bank Nifty (-0.99%), CNX Service (-0.88%) and CNX Infra (-0.77%).

Market breadth was seen negative on NSE with 629 stocks advancing against 539 declining and 45 remaining unchanged.

Out of 50 stocks of Nifty, 18 gained while 32 declined.

Top Five Nifty Gainers: BPCL emerged as the top gainer on the Nifty today excelling by 2.47% and followed by NMDC (2.34%), DLF (2.10%), Asian Paints (2.02%) and J P Associates (1.64%).

Top Five Nifty Losers: ITC was the biggest loser on the Nifty plunging by -3.51% and chased by ICICI Bank (-3.29%), Power Grid (-3.20%), Dr. Redyy's (-3.03%) and Sun Pharma (-2.81%).

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Daily Equity Market Report – November 1, 2013

The Indian markets are on a record-breaking spree, thanks to FII inflows and not paying much of attention to the negatives in sight. It seems that FIIs and investors in general don't want to miss any rally in India; so when the news of the pullback of Fed tapering came in, the stakeholders thought that emerging markets, specifically India, have got an opportunity to get their house in order and hence joined the Diwali euphoria on Dalal Street.

Both the benchmark indices continued their festive mood extended throughout the week when the S&P BSE Sensex, after breaking the all-time closing high, today breached the highest ever intra-day level. The Sensex closed the day 32.29 points up at 21196.81 after scaling the new intra-day high of 21293.88 by surpassing the previous intra-day peak of 21206.77, set on January 10, 2008.

The broad-based index Nifty also breached and sustained the 6300 level and closed at 6307.20, up 8.05 points. Nifty registered an all-time high of 6357.10 on January 8, 2008, and a record close of 6312.45 on November 5, 2010. Though both the benchmark indices started the day on a positive note surging by approx. 0.50% but eventually ended flat.

Markets ended the week and the Samvat 2069 on a cheerful note and will enter the next Samvat on high adrenaline as most of the analysts have attributed the current rally to liquidity as FIIs have pumped in nearly $3.5 billion into Indian stocks ever since the US Fed delayed tapering of its monetary stimulus at a meeting on 18 September.

Like yesterday, today's market also was driven by the rate sensitives with CNX PSU Bank (4.65%) gaining the most by leading from the front and followed by CNX Realty (2.79%), CNX Media (1.40%), Bank Nifty (1.36%), CNX Auto (1.26%), CNX Metal (1.20%) and CNX Finance (1.18%). On the other hand, CNX FMCG was the biggest loser among all sectoral indices plunging by -1.31% and chased by CNX Energy (-0.87%), CNX IT (-0.60%) and CNX PSE (-0.31%).

Market breadth remained positive throughout the day on NSE with 771 stocks advancing against 401 declining and 53 remaining unchanged.

Whereas, out of 50 stocks of Nifty, 30 gained while 20 declined.

Top Five Nifty Gainers: IDFC was the biggest gainer on the Nifty today surging by 6.48% and followed by PNB (4.79%), Bank of Baroda (4.59%), State Bank of India (4.35%) and Mahindra & Mahindra (4.30%).

Top Five Nifty Losers: Power Grid loses the most on the Nifty today plunging by -3.41% and chased by ONGC (-2.01%), NTPC (-1.95%), ITC (-1.85%) and Infosys (-1.15%).

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