END OF THE DAY REPORT (2ND MARCH 2015):
Nifty reclaims 8950, Sensex steady; Oil and Gas stocks gains:
Markets opened gap up on the hopes budget announcement will push growth and increased corporate earnings, but could not sustain on the higher side dragged by ITC but Buying pick up on last trading minute in Oil and Gas stocks which help indices to close in the green zone.
HEADLINES FOR THE DAY:
- Financial Technologies gains 15% on the back of heavy volumes.
- Cement stocks were in demand mostly cements stocks hits fresh high in today’s trading session.
- MCX gains 7%on proposed FMC – SEBI merger.
- Banks gains as now private sector lenders allow to raise their additional foreign capital; Axis Bank gains.
- Oil and Gas stocks gains on hike in fuel prices. Hindustan petro gains 6%.
- Jet Airways dips 4% on a hike in ATF (Aviation turbine fuel) prices by 8.2%.
- ITC extends dips 6% on excise duty hike in cigarettes.
- Infra stock gains on fresh order inflows; BHEL, LT gains.
- NCC gains 19% on the back of heavy volumes.
ALL ABOUT CORPORATE SALES NUMBERS:
- Bajaj Auto dips after reported weak February sales. Motorcycle sales down by 21%, Commercial Vehicles dips 32% in Feb.
- Eicher Motors surged after Feb sales increased by 49% on robust Royal Enfield sales to 30240 units.
- Maruti Gains on strong FEB sales number; 8% rise in domestic sales, Export up 14%.
- Tata Motor dips on drop in cumulative sales in Feb.
- Atul Auto reported growth over 9.5% at 3402 units in Feb sales
- Ashok Leyland hits new high after a 48% jump in Feb sales of 8230 units.
SOME STOCKS FOR NEXT TRADING SESSION:
- IOC EQ gains on the positive news (hike in fuel prices), further upward movement could see. Buy IOC EQ above 355.90 Targets 359.40/363/366.60 SL 352.
- GSFC EQ was trading near around hits crucial support if it breaks 89.60, Further goes down. Sell GSFC EQ below 89.60 Targets 88.70/87.80/86.90 SL 90.60.