Tag: nse

Today’s Action:
Benchmark Indices started the day on a positive note and as the day progressed it held on to its momentum. The Sensex gained over 270 points, while the Nifty closes above 9,850, the broader indices outperformed the frontline indices.

Daily Market Review:

The Indian Market continues to climb higher tracking positive cues from the world indices. After a gruelling previous week, the markets made a strong comeback in the past two trading sessions. The equity indices started the day on a positive note and were trading range bound. However, near the close of the today’s trading session, both the Sensex and the Nifty extended its gain sharply to post a gain of 0.88% and 0.89% respectively.

 The Nifty touched a high of 9,857.90 after opening at 9,803.05 and finally settled at 9,852.50 for the day. After opening at 31,407.47 the Sensex traded in the range of 31,379.25 to 31,593.39 points, it finally ended the day at 31,568.01.

 Broader markets also put up a great show today, they beat the frontline indices with the Nifty Midcap and the Smallcap both posting a gain of 1.19% and 1.38%, respectively.

 The MarketSmith IND 47 Index, which lists the top 47 stocks in chart and fundamental characteristics, gained 1.26% in today’s trading session.

 Apart from Nifty FMCG all the sectors displayed some strength today, the top three performing sectors today were Nifty Realty, PSU Bank, and the Metal posting a gain of 3.44%, 2.09%, and 1.72%, respectively.

 Investors continue to display subdued interest as was observed from lower volumes today. The Sensex dropped a distribution day today due to ageing and bringing down the total distribution day count for the Sensex to 7.  With a distribution day count of 6 on Nifty, the market status is currently “Uptrend Under Pressure”.

 In stock talk, Infosys gained 3% intraday after the buzz that Nandan Nilekani is likely to return to head the affairs of the Company. According to sources, clarity on his role at Infosys is expected in the next 48 hours.

 The National Company Law Tribunal has recently started insolvency proceedings against Jaypee Infra due to incomplete projects. The Interim Resolution Professional (IRP) announced that The Cabinet today has given “in-principle approval’’ to the public sector banks  to set up an alternative mechanism to complete the process of consolidation. The name of the banks proposed to be merged will be submitted to a group of ministers based on certain deciding factors such as geographical coverage, comparable asset quality and capital adequacy ratios.

 From the results corner, Gati reported a threefold increase in its Q1 FY 2018 net profit, due to this the stock price surged 8% and touched an all-time high price of INR 156.65 intraday.

 Tata Power’s Q1 FY 2018 profit jumps 329%, y/y to INR 142 crore. The business capacity of Tata Power crossed 2,000 MW and non- fossil fuel portfolio stood at 3,144 MW, an increase of 92% compared to last year. The tone of the management remained aggressive towards further investment in the renewable energy projects, the Company has become one of the largest renewable energy players in the last five years.

Current Outlook:

– Be cautious with any new purchases.

– Form a defensive game plan for your portfolio.

– Stay disciplined and exercise sound sell rules.

To Read Detailed Reports including Stock Recommendations, Idea Lists, Evaluate Stocks etc. Subscribe to  MarketSmith India.

Today’s Action:

Despite extreme volatility observed today, the benchmark indices ended in green.

Daily Market Review

 Amidst volatility during the entire trading session, equity indices edged higher by erasing some of its previous day losses. Frontline indices started the day on a good outing, tracking from its Asian peers. However, as the market approached the closing bell, both the Sensex and the Nifty ended the day with gains of 0.11% each.

 The Nifty touched a high of 9,828.45 after opening at 9,815.75 and finally settled at 9,765.55 for the day. The Sensex displayed a similar performance today, after opening the day at 31,393.93 it traded in the wide range of 31,484.28- 31,241.50 and finally ended at 31,291.85

 Broader markets continue to disappoint as they failed to track the major indices. The Nifty Midcap and Smallcap both posted a loss of 0.76% and 0.57%, respectively.

 The MarketSmith IND 47 Index, which lists the top 47 stocks in chart and fundamental characteristics, declined 0.71% in today’s trading session.

 On the Sectoral Chart, most of the sectors had something to take home barring Nifty Realty, Auto and  PSU Bank which slid 0.89%, 0.85% and 0.41% in today’s trade. While today’s gain could be attributed to the top three performing sectors which were Nifty Pharma, Media and Pvt Bank which gained 0.90%, 0.35% and 0.23%, respectively.

 Lower volumes in the exchanges today compared to the yesterday’s trading session serves as a testament to the subdued interest among investors. The distribution day count for the Nifty and the Sensex currently stand at 6.0 and 8.0, respectively.  The market status is currently “Uptrend Under Pressure”.

 The market witnessed yet another IPO today brought by Apex Frozen Foods, the Company plans to raise INR 152 crore through the issue that will close on August 24. Apex Frozen Foods is one of the integrated producer and exporter of shelf stable quality aquaculture products. The price band fixed for the issue ranges from INR 171-175 per share and approximately 87 lakh equity shares will be offered through the book building route. The Company proposes to use the proceeds for setting up a new shrimp processing unit with a capacity of approximately 20,000 MTPA.

 The inter-ministerial group on telecom, which was set to ease the financial stress for the telecom sector, is expected to finalise its recommendations to deal with issues such as an extension of deferred payment schedule, migration from prime lending rate to the marginal cost of funds-based lending rate regime for interest payments.

Current Outlook:

– Be cautious with any new purchases.

– Form a defensive game plan for your portfolio.

– Stay disciplined and exercise sound sell rules.

To Read Detailed Reports including Stock Recommendations, Idea Lists, Evaluate Stocks etc. Subscribe to  MarketSmith India.

Today’s Action:

The Nifty and the Sensex end flat, giving away most of the day’s gains. Broader Indices outperform key composites.

Daily Market Review

The benchmark indices ended flat on what looked like a day which seemed to have positive momentum following the gains witnessed on Monday and yesterday. By the close of trade, the headline indices gave away most of its gains and ended flat with a positive bias.

Today, the Nifty opened higher at 9,945.00. After touching an intraday high of 9,947.80, the index lost momentum and reached the intraday low at 9,883.75. The index finally settled at 9,904.15, up 0.07% from the last closing price. Similarly, the BSE Sensex opened at 31,919.17 and went on to hit an intraday high of 31,937.51. The index could not sustain at the day’s highs and slipped to an intraday low of 31,714.10. The Sensex finally settled at 31,795.46, up 24.57 points or 0.08% from yesterday’s close.

The market breadth, indicating the overall health of the market, was tilted towards the gainers in today’s session. On the NSE, 815 stocks advanced, compared with 629 stocks declining, and 69 stocks remaining unchanged.

The broader markets fared better in today’s trade, as the Nifty Midcap and Smallcap indices notched up 0.21% and 0.80%, respectively.

Similarly, the MarketSmith India IND 47 Index, which lists the top 47 stocks in chart on fundamental characteristics, advanced 0.72%, in today’s session.

On the sectoral front, the Nifty IT, Media, and Metal indices remained on top of the gainers list with upticks of 1.30%, 1.00%, and 0.74%, respectively. On the losing side, the Nifty Bank, Private Bank, and Auto indices dragged the market the most with losses of 0.82%, 0.82%, and 0.78%, respectively.

The Centre has come out with a draft of the National Pharmaceutical Policy, which aims to bring sweeping changes to the pharmaceutical industry. The policy aims to boost domestic manufacturing of drugs, impose a cap on trade margin, crack down on unfair marketing practices and limit ‘loan licensing’ by pharmaceutical companies. Loan licensing is a practice, where one company gets its products manufactured at a different company’s premises on a loan license contract. The policy also aims to create an environment suitable for research and development.

GMR Infrastructure shot up 19% intraday as the Supreme Court upheld an order by the Delhi High Court, which allowed the Company to use surplus land at the Delhi airport for non-aviation or commercial purposes. A government policy in 2016 had barred airports from using such land for non-aeronautical purposes. Investors see this as a positive move for GMR Infrastructure, which holds a 54% stake in Delhi International Airport Ltd (DIAL).

As part of its value-unlocking initiatives, Reliance Capital has filed an application with insurance regulator IRDAI for selling up to 25% stake in its wholly-owned subsidiary Reliance General Insurance Company (RGIC) to raise about INR 1,500-2,000 crore. With this, RGIC has become the fourth general insurance company in the country to have announced its intentions to get listed on the stock exchanges. Separately, Reliance Capital is aiming to list Reliance Nippon AMC and Reliance Home Finance this year.

Trading volume on the key indices today was lower in comparison to yesterday’s session. The distribution count for the Nifty and the Sensex remains 5.0 and 6.0, respectively. Currently, the indices are about 2.5% away from their all-time highs. The Indian market status is in Uptrend Under Pressure.

Current Outlook:

– Be cautious with any new purchases.

– Make a defensive game plan for your portfolio.

– Stay disciplined and exercise sound sell rules.

To Read Detailed Reports including Stock Recommendations, Idea Lists, Evaluate Stocks etc. Subscribe to  MarketSmith India.