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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Daily Equity Market Report – October 31, 2013

Indian stock markets celebrated Diwali much earlier than the auspicious day by marking record closing highs as the bull run continued on Dalal-Street. Its celebration time already on D-Street as euphoric investors pulled the market up at five-year high. Both the benchmark indices started the day on very cautious note and traded within a tight range for most of the day before seeing some volatility in last few hours just ahead of expiry of the ongoing series of F&O contracts.

The 50-share index Nifty closed at 6299.15, up by 47.45 points or 0.76%, before hitting an intra-day high of 6309.05. Nifty hits 6300 for the first time since November 10, 2010 and now 57.95 points away from its lifetime intra-day high. The Sensex also ended the day by marking all-time closing high by summing up at 21164.52, up 130.55 points or 0.62. The lifetime intra-day high for Sensex is 21206.77; while the same for Nifty is 6357.10. The market turnover swelled to over 5 lakh crore for the first time ever today.

Earlier today, the markets started with some uncertainty and witnessed bouts of profit-booking, as the US Federal Reserve yesterday indicated that QE3 could taper sooner than expected. This news came as a surprise to the markets as most analysts and participants were of consensus that the Fed is unlikely to begin tapering until March 2014. But shunning all the worries market entered in the festive mood with record turnover never seen before.

Except yesterday's star performer CNX Pharma that plunged by -1.44% today, all the sectoral indices closed in the positive. Today's momentum was led by rate sensitives that failed yesterday, and that too with CNX PSU Bank, emerging as the biggest gainer by 7.40% and also followed by Bank Nifty (1.99%), CNX Metal (1.73%), CNX Energy (1.55%), CNX PSE (1.37%), CNX Finance (1.30%), CNX Infra (1.19%), CNX Service (1.14%) and CNX Commodities (1.07%).

Market breadth remained positive today on NSE as 636 stocks advance against 515 decline while 67 remaining unchanged.

Out of 50 stocks of Nifty, 35 advanced while 15 declined.

Top Five Nifty Gainers: Bank of Baroda topped the Nifty Gainers chart today by registering 10.98% gain and followed by PNB (9.44%), State Bank of India (4.35%), J P Associates (4.14%) and IDFC (3.46%).

Top Five Nifty Losers: Dr. Reddys loses the most today and fell by -3.49% also chased down by Ambuja Cement (-2.80%), Sun Pharma (-1.71%), Lupin (-1.68%) and Ranbaxy (-1.31%).

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Daily Equity Market Report – October 30, 2013

India Inc. today accepted the central bank’s tough measures as a Dipawali gift despite the hike in repo rate and went on buying spree across broad-based stocks. Both the benchmark indices, Sensex and Nifty, almost paired all the losses incurred in the few previous trading sessions since last week. Nifty surged higher to close above intermediate resistance level of 6200 as sentiment turned bullish after the RBI hiked repo rate. The 50-share index ended at 6220.90, up 119.80 points or 1.96% after touching intra-day high of 6228.05 and a low of 6079.20. While, the S&P BSE Sensex closed at 20929.01, up 358.73 points or 1.74% and touched a high of 20952.55, just 75 points away from all-time closing high, and an intraday low of 20,493.66.

Sentiments in the market turned bullish today after the RBI, in the second quarter monetary policy review, hiked repo rate by 25 basis points to 7.75% and cut marginal standing facility rate by 25 basis points to 8.75% with immediate effect, which was in-line with economists' expectations. Addressing the key issue of liquidity for India Inc, RBI doubled the borrowing limit of banks against their cash positions or NDTL to 0.5% for both 7-day and 14-day repos, with immediate effect to increase liquidity in the system. With these changes, the RBI has calibrated the window between the repo rate (7.75%) and MSF (8.75%) to 100 basis points (1%), as stated in the September 20 mid-quarter review.

It was the measures taken on the front of liquidity in the markets in form of MSF and short-term borrowing limit of the banks that bolstered the optimism among the participants. Though RBI also reduced the growth forecast for the current fiscal to 5% from 5.5% projected earlier.

All the sectoral indices today joined the party on NSE and Bank Nifty emerged as the biggest gainer surging by 4.35% and followed by CNX PSU Bank (3.87%), CNX Finance (3.74%), CNX Realty (2.71%), CNX MNC (2.65%), CNX Auto (2.36%), CNX Service (2.31%), CNX Metal (2.25%) and CNX Commodities (2.04%).

Market breadth was positive on the NSE as 677 stocks advances against 481 declines and 58 remained unchanged.

Out of 50 stocks of Nifty, 47 stocks gained while 3 declined.

Top Five Nifty Gainers: Maruti led the Nifty Gainers list and excelled by 8.75% and accompanied by J P Associates (7.76%), ICICI Bank (6.26%), IndusInd Bank (5.63%) and Axis Bank (5.16%).

Top Five Nifty Losers: Today only three stocks on the Nifty closed in red with Ranbaxy plunging the most by -0.90% and chased by ITC (-0.29%) and Bharti Airtel (-0.13%).

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Daily Equity Market Report – October 29, 2013

India Inc. today accepted the central bank’s tough measures as a Dipawali gift despite the hike in repo rate and went on buying spree across broad-based stocks. Both the benchmark indices, Sensex and Nifty, almost paired all the losses incurred in the few previous trading sessions since last week. Nifty surged higher to close above intermediate resistance level of 6200 as sentiment turned bullish after the RBI hiked repo rate. The 50-share index ended at 6220.90, up 119.80 points or 1.96% after touching intra-day high of 6228.05 and a low of 6079.20. While, the S&P BSE Sensex closed at 20929.01, up 358.73 points or 1.74% and touched a high of 20952.55, just 75 points away from all-time closing high, and an intraday low of 20,493.66.

Sentiments in the market turned bullish today after the RBI, in the second quarter monetary policy review, hiked repo rate by 25 basis points to 7.75% and cut marginal standing facility rate by 25 basis points to 8.75% with immediate effect, which was in-line with economists' expectations. Addressing the key issue of liquidity for India Inc, RBI doubled the borrowing limit of banks against their cash positions or NDTL to 0.5% for both 7-day and 14-day repos, with immediate effect to increase liquidity in the system. With these changes, the RBI has calibrated the window between the repo rate (7.75%) and MSF (8.75%) to 100 basis points (1%), as stated in the September 20 mid-quarter review.

It was the measures taken on the front of liquidity in the markets in form of MSF and short-term borrowing limit of the banks that bolstered the optimism among the participants. Though RBI also reduced the growth forecast for the current fiscal to 5% from 5.5% projected earlier.

All the sectoral indices today joined the party on NSE and Bank Nifty emerged as the biggest gainer surging by 4.35% and followed by CNX PSU Bank (3.87%), CNX Finance (3.74%), CNX Realty (2.71%), CNX MNC (2.65%), CNX Auto (2.36%), CNX Service (2.31%), CNX Metal (2.25%) and CNX Commodities (2.04%).

Market breadth was positive on the NSE as 677 stocks advances against 481 declines and 58 remained unchanged.

Out of 50 stocks of Nifty, 47 stocks gained while 3 declined.

Top Five Nifty Gainers: Maruti led the Nifty Gainers list and excelled by 8.75% and accompanied by J P Associates (7.76%), ICICI Bank (6.26%), IndusInd Bank (5.63%) and Axis Bank (5.16%).

Top Five Nifty Losers: Today only three stocks on the Nifty closed in red with Ranbaxy plunging the most by -0.90% and chased by ITC (-0.29%) and Bharti Airtel (-0.13%).

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Daily Equity Market Report – October 28, 2013

Continuing the last week’s despair, market today started the F&O expiry week on a negative note ahead of RBI's second quarter monetary policy review slated for tomorrow. Today’s fall was the fifth straight fall for the benchmark indices back to back as investors largely remained cautious ahead of the RBI police meet. Though the broad-based index Nifty failed to hold above the 6150 level and remained below throughout the day after sliding down in very first hour of trade, but still managed to end the day above another key mark of 6100 by closing at 6101.10, down by -0.71% or 43.80 points. Sensex also plunged by 113.24 points and wrapped up the session at 20570.28, down -0.55%.

Amid this continuing five day downtrend, today volatility was also high as market participants seemed direction-less on whether to roll over their positions in the F&O segment as contracts are in the cusp of expiry. As per analysts, participants in the market are largely expecting a repo rate hike as RBI governor Raghuram Rajan's focus remains to be inflation. Today’s closing levels of the indices mark its lowest close in nearly one and a half weeks, as lenders and other interest rate-sensitive shares declined ahead of the central bank's monetary policy review on Tuesday.

All the sectoral indices faced the heat of uncertainty hovering over monetary policy review and ventured in red zone except CNX Energy which inched marginally higher (0.03%) than the previous close. Among the losers, CNX PSU Bank led the southward journey by plunging -2.98% and chased by CNX FMCG (-2.57%), CNX Realty (-2.38%), CNX Media (-1.76%), CNX Metal (-1.56%), CNX Consumption (-1.27%), CNX MNC (-1.14%), Bank Nifty (-1.13%) and CNX Pharma (-1.01%).

Market breadth remained negative today as 390 stocks on NSE rose against 773 declined while 49 remained unchanged.

Out of 50 stocks of Nifty index, 13 advanced against 37 declined.

Top Five Nifty Gainers: Larsen & Toubro topped the Nifty Gainers chart and registered 1.89% gain and joined-in by ONGC (1.51%), HDFC (1.49%), Wipro (0.56%) and Kotak Bank (0.51%).

Top Five Nifty Losers: J P Associates shed the most on Nifty losers list falling by -5.36% and followed by Bank of Baroda (-4.42%), ITC (-3.93%), PNB (-3.74%) and SSLT (-3.63%).

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Daily Equity Market Report – October 25, 2013

Indian stock markets, today, shied away from the ongoing northward momentum on the back of profit booking at current levels and weak cues from the global markets. Both the benchmark indices remained very volatile despite being range-bound through most of the day. The broad-based index Nifty failed to hold the ground and ended the week below the key psychological mark of 6150 at 6144.90, down by 19.45 points, or -0.32%. Sensex also retreated after touching the 21000 mark yesterday in intra-day trades and ended the day at the lowest level of the current week at 20683.52, down by 41.91 points or -0.20%.

The market apprehended for weak closing for the current week as it saw a bit of profit booking after rising for more than 5% in previous three weeks. Major indices broke out of their trading range on the lower side towards the end of trade and closed near day's low on profit booking taking cues from weak global markets.

As per market experts, however, current consolidation of benchmark indices in the narrow range seen in the past few trading sessions is more of profit-booking by traders, while the long-term trend remaining intact. Considering the fact that the momentum is clearly on the side of the bulls, further rally is expected purely on the back of global liquidity as not much has changed when it comes to the dynamics of the Indian economy.

All the sectoral indices, except CNX IT (1.51%), CNX Media (1.00%) and CNX Service (0.35%), plunged below their respective previous closes led by the consumption and infrastructure stocks. CNX Realty shed the most falling by -2.33% and chased by CNX Infra (-1.47%), CNX Metal (-1.31%), CNX Auto (-1.09%), CNX Consumption (-1.02%) and CNX FMCG & CNX Pharma (both -0.92%).

Market breadth remained one-sided negative on the NSE with 390 gainers against 780 losers and 51 remaining unchanged.

Out of 50 stocks of Nifty, 14 stocks advanced while 36 stocks declined.

Top 5 Nifty Gainers: TCS topped the Nifty Gainers chart by gaining 2.80% and followed by HCL Technologies (2.48%), Wipro (2.37%), NTPC (1.54%) and SSLT (1.33%).

Top 5 Nifty Losers: While on the Nifty Losers list, Hindalco seized the top spot plunging by -4.93% and followed by DLF (-4.83%), NMDC (-3.68%), Cairn India (-3.53%) and Tata Steel (-3.10%).

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