DAILY MARKET REPORT – 8 AUGUST 2012

A flat day of trade amid Airtel’s results and lower forecasts of India’s GDP. The Nifty ended flat in trade on no particular market moving event. Global cues also did not help much in today’s trading session.

The Sensex closed 1.22 points lower at 17600.56 in trade after touching a high of 5377.60 and a low of 5331.90 today. the Nifty closed 1.30 points higher at 5338 with highs of 5377.60 and lows of 5331.90. Nothing much happened today apart from lower numbers by Bharti Airtel. Its disappointing results saw the co.’s stock decline 6 percent in trade and is now being replaced by ICICI bank in the top 10 firms by market cap.

On the sectoral indices on the BSE, the Midcap Index was down 0.18 percent and the BSE Smallcap Index also declined 0.40 percent.  The Realty Index was down 2 percent, the Captial Goods Index saw a decline of 0.65 percent lower and the Bankex ended 0.57 percent lower. The Auto Index gained 1.13 percent and the Metal Index rose 0.78 percent.

Veritas downgraded Indiabulls Finance. Mahindra & Mahindra saw its shares rise 4 percent on better than expected results. Hindalco rose in trade by 2 percent.

On the currency front, the Rupee hovered at 55.18 to the Dollar.

Kindly check the Market Summary tab for further information on stock-related data.

(Economic Times, Moneycontrol ,Business Standard)

DAILY MARKET REPORT – 26 JULY 2012

Ok today was the expiry and markets were going to be volatile. But the news of mid-cap stocks being battered right from the beginning!!! News makers stated that operators saw their margin calls being triggered, causing them to sell shares. 51 stocks would also not be included in the F&O category from the next contract onwards. It seems that Vanguard Fund was a holder of most of the mid-cap stocks which were offloaded heavily today.

Earnings data also came in but the broader markets just collapsed just half an hour before closing. Markets ended near day lows and could continue trading in the lower range in the coming periods.

The Sensex closed 206 points down at 16639.82 points (-1.22%) and the Nifty closed at 5043, down 66 points (-1.30%). Globally, Asia was flat in trade, with markets closing marginally higher. Europe is trading higher on earnings reports, and that ECB President Draghi stated that the EU would do all it could to protect the euro.

On the sectoral front for indices on the BSE, the Midcap Index declined 1.26 percent, the Smallcap Index lowered 1.21 percent.  The Realty Index fell 1.72 percent, the Capital Goods Index also fell 1.30 per cent and the Oil & Gas Index declined 0.92 percent. However, the Healthcare Index was up 0.51 per cent.

On the stock front, mid caps were the biggest losers in trade. Stocks of co’s such as Tulip Telecom, Everonn Educations, Parsvnath Developers, Radico Khaitan, Glodyne Techno, Pipavav Defence, SRS, Nitin Fire were one of the main stocks affected. Tata Motors declined 4 percent in trade.

Expectations of a price hike in diesel prices and reforms that the govt would undertake post presidential elections could have made investors unwind their positions in trade.

On the earnings front, there was a lot of action from India and Europe.

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(Economic Times, Business Standard and Bloomberg)

DAILY MARKET REPORT – 25 JULY 2012

The markets covered their losses in trade led by buying in shares of ITC, Bank of India, L&T, ONGC and Bharti  Airtel. Global cues again painted a sorry picture of events occurring in Europe. We saw a lot of earnings data in Europe as well as India. Earnings did play its part when it came to stock specific trades.

According to Bank of America – Merrill Lynch India’s report, they observe that the trading pattern of the markets would see it remain range bound this year. Monsoon would impact inflation as well. S&P added to this by stating that banks in countries in the BRIC’s category would experience slowdown in the next 1 – 2 years, leading to depressed earnings and decline in the quality of assets.

The Sensex 30 closed at 16846.05 points, down 72 points (-0.43%). It touched highs of 16899.01 and lows of 16736.6 points in intraday trade. The Nifty declined 18.60 points to close at 5109.60 points. The index ranged from highs of 5121.60 points and lows of 5076.60 points in trade.

With regards to the sectoral indices on the BSE, the Metal Index declined 2.02 percent, the Consumer Durable Index slipped 1.75 percent and the Power Index closed lower by 1.4 percent. The Healthcare Index gained 0.3 percent, the FMCG Index rose 0.3 percent and the FMCG Index gained 0.2 percent.

The global markets in Asia declined in trade, ranging from 0.50 – 1.50 percent in trade. The reason – Spain again!! Economic data did not help matters much though but DAX, FTSE, CAC all are trading higher in trade. UK 2Q12 GDP declined more than expected. German Business Confidence data also declined, following Moody’s review of the country’s ratings.

On stock specific news, Kirloskar Industries, Vijaya Bank, Powergrid Corp, NIIT Ltd, Novartis India Limited, Jindal Steel, Yes Bank, HCL Technologies, were amongst the many which reported their earnings.

On the European front, Daimler and Peugeot exhibited dismal numbers, more so for Peugeot.

The Rupee still hovered above the 56 mark at 56.12 to the Dollar.

Commodities traded higher during the session with WTI at USD 88.83 up 0.37% and Brent trading at USD 103.45 up 0.03%. Later in the day EIA crude oil inventory data will be released. Previously inventory levels showed a drawdown of 0.809m. On the weather front, severe storm expected over Wisconsin, Michigan and the Great Lakes.

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(CNBC, Business Standard and Economic Times)

DAILY MARKET REPORT – 24 JULY 2012

Markets closed marginally in the positive territory in trade today. Global cues, too, were mixed, as we also saw some disappointing PMI numbers coming out in trading hours. Sensex closed at 16918.08 points, up 40.73 points (0.24%). The Sensex touched highs of 16953.94 and a lows of 16884.32 points today. The Nifty closed marginally higher by 10.25 points at 5128.20 (0.20%). It touched a high of 5139.40 and a low of 5116.75 points today. Earnings and PMI data combined with Moody’s lowering outlook on Germany summed up the day today.

On news from the global cues, Asia ended mixed but between +/- 0.20 percent to 0.80 percent in trade on Spain. Europe currently is trading flat today on Spain and PMI data which came in lower. France, Germany and Eurozone PMI came in today while China’s HSBC PMI data came in better than expected.

On the sectoral indices front on the BSE, Midcap Index was up 0.22 percent and the BSE Smallcap Index rose 0.23 percent. The FMCG Index rose 1.57 percent, Oil & Gas Index increased by 0.60 percent and the Metal Index also gained 0.54 percent. The Capital Goods Index declined 0.73 percent, the IT Index fell 0.49 percent and the Healthcare Index declined 0.17 percent.

On the individual stock front, we saw earnings come in today. Co.’s such as Lupin, Shriram Transport, Canara Bank, Tata Elxsi, Wipro, Torrent Pharma amongst other which reported their numbers.

RCom declined 4 percent to INR 59.60, still the effects of the deferred IPO weighing in on investors. Wockhardt rose 6 percent to INR 976 as FII’s purchased an additional stake in the co.

On the currency front, the Rupee rose to INR 55.92 to the US Dollar. Citigroup Inc stated that the currency could touch levels of 57 and above on absence of policies implemented by the government.

Commodities traded higher during the session with WTI at USD 88.43 up 0.33% and Brent trading at USD 103.28 up 0.02%. On the weather front, severe thunderstorm expected in parts of New York, eastern Pennsylvania, northern New Jersey, Vermont and New Hampshire Monday.

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(CNBC, Business Standard and Economic Times)

DAILY MARKET REPORT – 23 JULY 2012

Spain‘s woes frightened investors today as the cascading effect of the debt ridden nation spilled on the global markets. Spain’s GDP data also came in lower, which added to the fact that the nation would soon suffer the fate Greece does. The week has started with the Sensex recording its biggest fall in over 2 months on global cues. Another news which also hurt investor sentiment in India was that multi-brand retail FDI policy would take longer than expected to pass through now that many other parties joined hands to oppose the move.

On the political front, Pranab Mukherjee will be sworn as President of India from tomorrow.

The Sensex declined 281.09 points to close at 16877.35 points (-1.64%). The index touched a high of 17047.73 and a low of 16849.28 points in trade today. The Nifty closed at 5119.95 points, lower by 87.15 points (-1.67%).

On the sectoral index front on the BSE, Midcap Index returned 1.26 percent lower today while the Smallcap Index declined 1.10 percent. The Metal Index lowered 3.30 percent, the Realty Index fell 2.80 percent, the Power Index declined 2.69 percent and the Auto Index was down 2.43 percent.

Global events dominated as Spain, Greece took centrestage. More than expected no. of regions could apply for aid, which shook investors on Monday. The contagion would spread on from Asia to Europe as these markets opened a percent lower in trade. Greece echoed words of the “Great Depression” of the 1930’s which struck the U.S, stating that their current crisis was similar to that. Italian markets declined 5 percent and over in trade on contagion. Italian banking stocks declined the most. The U.S markets would also most likely open lower in trade today.

On the individual stock front, L&T reported its 1Q12-13 earnings which exceeded expectations while EBITDA failed to, seeing the stock tank 3 percent to INR 1352 a share. Zee Entertainment hit a 52 week high of INR 155 on stronger 1Q12 earnings.  Godrej Industries, declined 4 percent to INR 236 ahead of its qualified institutional buyer issue starting tomorrow. The price band is kept between INR 210 to 235 a share. Bajaj Finance gained 7 percent to INR 1075 on better than expected results declared last week. Other firms reporting today were Indian Bank, Dabur, Colgate Palmolive amongst others.

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(CNBC, Business Standard, Economic Times and Moneycontrol)

DAILY MARKET REPORT – 11 JULY 2012

The markets closed lower in today’s trade on profit booking in realty, metals and auto sectors. The Sensex closed 129.21 points or 0.73 percent lower at 17489.14 points in trade. The index touched a high of 17582.99 and a low of 17466.99  points in trade today. The Nifty closed 39.05 points or 0.73 percent lower at 5306.30. The index touched a high of 5336.45 and a low of 5300.25 points in trade today.

On the sectoral indices on the BSE, The Midcap Index closed 0.17 percent lower and the Smallcap Index declined 0.28 percent.  The Realty indexwas down 1.24 percent, the Auto Index slipped 1.21 percent and the Metal Index was 1.12 percent lower but the Capital Goods Index was up 0.29 percent.

The Indian rupee closed 0.45 points lower at INR 55.39. Trader data revealed that Japanese banks sold around USD 270 – 300 m of dollars.

On the weather front, the Indian Meteorological Department stated that shortfall in rains has been at around 23 percent over the previous period, in what would affect agriculture in the country. The deficiency is expected to continue until next week, which could be a worrisome monsoon this year.

On the stock front, Wipro touched seven month low of INR 371.50 after it declined 3.3 percent in trade today. Volumes of 3.86 m shares were on news that auto firm General Motors would not be extending its outsourcing contract to the firm. Infosys gained 1.4 percent to INR 2495 on share buyback plans and its 1Q12 results, which will be filed tomorrow. Castrol India also rose 6 percent to INR 572 on news of an issuance of bonus shares. GVK Power rose 0.3 percent after falling 0.7 percent on payment of penalty fees at the Mumbai airport. HDFC reported its 1Q12 results as well. Infosys rose just 0.3 percent while TCS declined 0.2 percent ahead of earnings tomorrow. JSW Steel reported a 27 percent rise in steel output as well.

Globally, data on China auto sales showed improving numbers; Germany’s inflation declined as well.

For tomorrow’s trade, watch out for IIP numbers and earnings of Infosys and TCS. Reuter’s poll revealed that IIP would accelerate 1.8 percent for May over April. The forecasts ranged from 0 to growth of 4.8 percent.  If data comes on the lower side, then markets could be volatile in trade with a particular eye on industrial and manufacturers.

Commodities traded higher during the session with WTI at USD 85.16 up 1.49% and Brent trading at USD 99.09 up 1.14%. Later in the day EIA crude oil inventory for the week ended June 6 is expected show a drawdown of -1.156m versus previous -4.270m.

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(Bloomberg, Economic Times and Moneycontrol)

DAILY MARKET REPORT – 03 JULY 2012

The markets closed flat again on a lacklustre trading session. The Sensex closed 26.73 points higher at 17425.71 points or 0.15 percent higher. The Index touched an intraday high of 17526.82 and a low of 17351.50 today. The NSE Nifty closed 9.35 points higher at 5287.95 points or 0.18 percent higher.

Deutsche Bank upgraded the utilities sector stocks in India.Sugar industry stocks rose on news that production would decline by 4 percent on lower recovery due to deficient rainfall. Oil marketing firms rallied in trade on news that revenue losses on diesel and petrol and cooking gas declined by 36 percent and 44 percent respectively.

One of the major event of the day saw Barclays CEO Bob Diamond tender his resignation with immediate effect on the aftereffects of the Libor scandal.The Reserve Bank of Australia held its main cash rate at 3.5 percent, unchanged on material easing.

On the global market scenario, Asia closed higher by marginal to a higher level on hopes of a stimulus. Europe too is marginally higher on hopes of stimulus and policy action.

On the sectoral index front on the BSE, the Midcap Index gained 0.50 percent, while the Smallcap Index moved 0.86 percent higher. The Realty index gained 1.98 percent, Metal index inched 0.57 percent higher;  Bankex moving up by 0.48 percent. TheIT Index was declined 0.51 percent and the FMCG index declined 0.47 percent.

On the currency front, the currency appreciated to touch 54.90 to the Dollar. Selling of dollars by banks improved sentiment, leading to its highest rate in one and a half months. On similar lines, Fitch conducted a rating analysis on corporates which could likely be affected in terms of rupee depreciation.

Commodities moved higher with WTI at USD 85.22 up 1.76% and Brent trading at USD 99.33 up 2.04%. On the weather front, severe storms expected over New York, Boston and Washington D.C.

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(Business Standard, Economic Times and Moneycontrol)

DAILY MARKET REPORT – 02 JULY 2012

The Indian indices began the week by closing flat in today’s trading session. The Sensex closed 31 points (-0.18%) lower at 17398.98 points. It touched a high of 17486.57 and a low of 17363.04 in the trade session today. The Nifty 50 closed lower by 0.3 points (-0.01%) at 5278.60. Nifty touched a high of 5302.15 and a low of 5263.35 in intraday trade today. Profit booking was seen at a major resistance level of 5300, just near the day’s highs.

Friday’s surge in the global markets was subdued today on concerns of the progress and success of the eurozone debt crisis plans. Asia edged marginally higher in trade with Hang Seng gaining the most by 2 percent, while the other markets closed flat, either higher or marginally lower. Europe opened higher by 0.5 – 1.0 percent in early afternoon trade today.

On the stock front, Jindal Steel declined 2.5 percent on a govt. order to halt work at its mine in Odisha. ITC also declined on the UP government raising taxes on cigarettes. Tata Motors and Hero Motocorp also declined on account of lower sales in May.

On the Sector-wise index data, the BSE FMCG Index declined 2.48 percent, the Auto Index was 0.62 percent down, the IT Index declined 0.24 percent. BSE Realty Index was up 2.32 percent, the BSE Capital Goods Index was 0.70 percent higher and the Power Index gained 0.67 percent.

India’s and various other regions PMI data came out in trade without much of a significant impact, considering the close today. Except for EU PMI data, which declined, the others incl India, UK and Germany saw marginal increases in their PMI data.

India’s trade deficit for May came in at USD 16.1 b. The INR currency declined to 55.90/91 on lower volumes.

Commodities moved lower with WTI at USD 83.80 down 1.37% and Brent trading at USD 96.41 down 1.42%. On the weather front, thunderstorms and severe weather conditions are expected over the Upper Midwest and around the Carolina region.

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(Business Standard, Economic Times and Moneycontrol)

DAILY MARKET REPORT – 29 JUNE 2012

The markets ended the week higher on positive news from the EU Summit regarding the bailout for Spain, global cues and government’s clarification on GAAR policies. The Sensex closed 439.22 points higher at 17429.98 (2.59%) while the Nifty closed 129.75 points higher at 5278.9 (2.52%).

The Sensex touched an intraday high of 17448.48 and a low of 17134.61 points in trade today. The Nifty touched an intraday high of 5286.25 and a low of 5189.00 as well.

Sentinment in the global markets was buoyed by the decision undertaken by the leaders at the EU Summit in Brussels. Elsewhere, Asian indices also closed higher on an average of 1.5 – 2.2 percent higher on the same news. Similar highs ranging from 1.5 – 2.8 percent was seen on European indices as well. US Stock futures too are expected to open higher, taking cues from the global indices and from the news at the summit. It remains to be seen as to how the financing of bailouts take place in the near future as more and more nations in the eurozone would look to avail such facilities. But it is expected that the week would end on a higher note even for the European and US markets.

On the currency front, Rupee appreciated by 0.82 points to touch 55.975 to the dollar in trade, a clear sign of the bullish global cues in trade.

On the stock front, majority of the shares were gainers with Cairn declining 6 percent on a stake sale by the parent co. Oil marketing firm BPCL declined as well on the cut in petrol prices. Morgan Stanley’s brokerage unit upgraded Indian equities as well, a reason to add to the sentiment in the wake of many downgrades in the recent period. ITC touched a 52 week high of INR 260 today. Reliance Industries purchased 3 cr shares in open market transactions as it gained 2.3 percent to INR 736. L&T also rose 4 percent to INR 1394 on receiving new orders worth INR 1000 cr in June.

Commodities rallied on upbeat global sentiments with WTI at USD 80.21 up 3.24% and Brent trading at USD 94.30 up 3.22%. On the weather front, severe thunderstorms are expected in parts of South Dakota to northern Missouri.

For the week ahead, investors should also keep a watch on the outcome of the summit which ends today.

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(Business Standard, Economic Times and Moneycontrol)

DAILY MARKET REPORT – 28 JUNE 2012

The markets ended flat in trade on a volatile day of trading today. The outcome of the EU Summit is awaited which could provide direction in the shorter term to the markets. The Sensex 30 index closed 23 points higher at 16990.76 (0.14%) and the Nifty 50 closed 7.25 points higher at 5149.15 (0.14%) higher in days trade.

The Sensex touched an intraday high of 17033.85 and a low of 16918.87 in day’s trade today. The Nifty touched an intraday high of 5159.05 and a low of 5125.30 points today.

The EU Summit could lead to the possibilities of further stimulus packages or debt issuances by the ECB. The central bank could also cut rates in the coming period to calm the markets. Globally, markets were mixed on trade on account of the EU Summit. Asian indices and European markets traded cautiously or were lower in trade. Europe opened lower in trade today.

The Indian Rupee touched 56.98 levels as it rose by 0.17 points as PM Manmohan Singh signaled his intent to boost the economy.

On the stock front, OnMobile Global hit a record low of INR 32.65 on FII’s and investors reducing their holdings on the co. struggling with its operations. On the sectoral indices, BSE Oil & Gas Index was down 0.59 percent, Bankex was 0.59 percent down and the BSE Capital Goods Index declined 0.33 percent. The BSE FMCG Index was up 0.71 percent, BSE Power Index rose 0.18 percent and the BSE Auto Index gained by 0.01 percent.

Commodities moved lower with WTI at USD 80.05 down 0.20% and Brent trading at USD 92.92 down 0.62%. On the weather front, showers and thunderstorms are expected from plains to the Deep South and eastern seaboard.

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(Business Standard, Economic Times and Moneycontrol)