Ø
INDICES:
Sensex -320 at 16831 (-1.87%), NIFTY -102 at 5087 (-1.96%), CNXMIDCAP -143 at
7215 (-1.94%)
Ø
SECTORAL
PERFORMANCE: BANKEX
-3.17%, AUTO -1.81%, CAPITAL GOODS -3.74%, HEALTHCARE 0.24%, Metal -2.51%, OIL
& GAS -1.65%, IT -1.03%, FMCG -1.1%, PSU -2.49%, REALTY -2.46%, Consumer
Durables -2.05%, POWER -2.46%
Ø
MARKET
BREADTH: 64
Advances, 433 Declines (BSE 500)
Ø
VOLUMES: BSE $0.48bn (35.08%), NSE $2.13bn
(13.83%), F&O $20.8bn (36.82%)
Ø
TODAY'S
GAINERS: CIPLA
2.63%, WPRO 0.62%, SUNP 0.29%, TTMT 0.28%, ACC 0.13%
Ø
TODAY'S
LOSERS: RPWR
-5.11%, RCOM -4.96%, BHEL -4.93%, PNB -4.69%, HMCL -4.61%
MARKET COMMENTARY:
Third straight
session southbound journey of Indian stock markets continued as there were
absolutely no domestic triggers to take the markets higher. Apart from the
gloomy global tidings, the exacerbating concerns over depreciating Indian rupee
have taken the center stage, prompting investors to take profits off the table.
Benchmark indices have nosedived to the lowest levels in around three and half
a month, the 50-share frontline index Nifty has breached its 200 day moving
average of 5,119.88. The Indian rupee crashed to Rs 53.82 against the US dollar
and is gradually closing in to all-time low levels as modest intervention by
the country’s central bank yesterday failed to stem the rupee’s slide. The
immediate trigger for the decline has been a rising dollar demand from
importers, but a deteriorating macroeconomic situation, years of policy
uncertainty and decades of fiscal mismanagement, coupled with renewed
risk-aversion among global investors is leading to weak foreign fund inflows,
which is in turn widening the country’s budgetary deficit and further corroding
its currency’s value. Investors also fretted over weak cues from Asian markets
which mostly followed the overnight fall in US markets on the back of
disappointing economic reports and weakness in commodities. The European
bourses too are exhibiting somber trends ahead of a crucial US jobs data and a
potentially tumultuous weekend for European politics, which sees elections in
France and Greece. Back home, the Capital Goods counter got bludgeoned by over
two and half a percent and remained the top laggard in the space while the rate
sensitive banking and Realty pockets too bore the brutal brunt of hefty
position squaring and plummeted by over two percent. Amid the across the board
carnage, the defensive Healthcare counter managed to keep its head above the
water with moderate gains of around half a percent. Moreover, the market
breadth was in favor of declines.
NEWS ON TODAYS MOVERS:
Ø
Great
Eastern Shipping Company slumped 1.72%despite the company’s consolidated net
profit jumped 263.5% to Rs 39.19 crore on 36.7% growth in net sales to Rs
822.28 crore in Q4 March 2012 over Q4 March 2011.
Ø
United
Phosphorus lost 5.63%, with the stock sliding on profit booking after 2-day
9.3% rally triggered by the company's announcement that its board will meet on
7 May 2012 to consider share buyback proposal.
Ø
ICICI
Bank fell 2.82% after the private sector bank's American depository receipt or
ADR lost 4.85% to settle at $31.81 on the New York Stock Exchange on Thursday,
3 May 2012
Ø
IRB
Infrastructure Developers lost another 13.99%, extending Thursday's 10.9% slump
triggered after the company clarified to media reports of its chairman being
investigated for possible involvement in a murder case.
Ø
Titan
Industries fell 2.19% ,with the stock sliding on profit booking after 2-day
5.45% gains triggered by the company reporting strong Q4 earnings.
Ø
Godrej
Consumer Products rose traded flat , with the stock extending 3-day 7.62% rally
triggered by the company reporting strong Q4 earnings.
Ø
Hero
MotoCorp lost another 4.61% extending Thursday's 7.69% slide triggered after
the company reported a fall in core operating profit margin at the fag end of
the day's trading session on Wednesday, 2 May 2012.
Ø
Essar
Oil surged 3.68%, with the stock recovering on bargain hunting after 2-day
5.14% slide.
Ø
Bank of
Baroda tumbled 6.08%,after the bank at the time of announcement of Q4 results
reported 11.72% fall in profit before tax at Rs 1196.51 crore in Q4 March 2012
over Q4 March 2011.
Ø
Reliance
Industries fell 1.68%,after the oil ministry reportedly hiked the penalty it
wants to impose on the company and its British partner for falling natural gas
output from KG-D6 fields
CORPORATE NEWS:
Ø
Indian Rlys
to pause on container terminal access charge hike
Ø
Corporation
Bank Q4 cons net profit up by 7%
Ø
Bank of
Baroda Q4 net profit surges by 17%
Ø
US
transportation dept slaps $80K fine on Air India
Ø
RIL
penalised Rs6,600 cr for KG-D6 field
Ø
BEML
chief trapped in fraud case; stock dips
Ø
Govt to
infuse Rs30K cr in Air India
Ø
ONGC
Tripura plant to run by May end
Ø
DoT may
put more 2G spectrum on auction
Ø
Piramal
Healthcare marks 16% rise for Q4FY12
Ø
Corporation
bank 4q profit 3.51b rupees vs. 3.45b
Ø
Corporation
bank to pay 20.5 rupees-shrs dividend
Ø
Niit
technologies 4q revenue 4.44 bln rupees vs. 3.16 bln
Ø
Niit
technologies to pay dividend of 8 rupees-shrs
Ø
Ultratech
April cement production 3.29 mln tons, up 1.72%
Ø
Gail
india expects u.s. gas prices to recover, Tripathi says
ECONOMIC NEWS:
Ø
India
working on plan to export wheat from state reserves
Ø
Indian
cos raise $3.84 bln from overseas: RBI
Ø
India's
nuclear power awaiting regulatory approval for loading
Ø
India
sets march 2017 as new deadline for freight link: solanki
Ø
India
dedicated freight rail link to miss dec. 2016 deadline
Ø
Mukherjee:
india to fast-track policies to ensure faster growth
Ø
Mukherjee
: confident' of 8%-10% annual growth in coming years
Ø
India to
focus on domestic-demand recovery, Mukherjee says
regards
Jatin
Padharia
+912261544569
+919867336999
+912261544569
+919867336999
No comments:
Post a Comment