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END OF THE DAY REPORT (16th MARCH 2015):

Market ends near 1-month closing low ahead of Fed meet; IT, Realty stocks rallied.

Markets end with marginal losses amid choppy trades as investors book profit ahead of FOMC meet which begins tomorrow while further contraction in Feb WPI (Wholesale price index) data weighed on investor sentiment.

Nifty ends flat, 15 points lower at 8633 while Sensex falls 66 points at 28438.

ABOUT WPI NUMBER:

Feb WPI inflation falls -2.06% marking decline for the fourth straight month as prices of  manufactured items, food articles and fuel products fell during the month. Primary articles were down 1.9%, fuel & power fell 4.43%, while manufactured were down 0.26%.

HEADLINES FOR THE DAY:

  • Wockhardt fresh high stock rallied 100% in last three months.
  •  Cairn India extends fall after Income Tax department slapped Rs 20495 crore tax demand.
  •  Diamond Power gains in an otherwise market on Rs 332 crore new orders.
  •  Sugar stocks dips on weak future prices.
  •  L&T InfoTech bags new contract worth USD 10 million.
  •  Lupin reported company entered into an agreement to acquire the balance 40% equity stake in South African Pharma Dynamics from its founders.
  •  Bajaj Auto moved higher on hopes of scooter launch; rival TVS Motor shares falls.

GAINERS:

  • Yes Bank moved higher on advance tax payments, For Jan-March Bank paid Rs 2.6 Billion as advance tax.
  • Suven gains 20% (locked with upper circuit) today and hits new high after secured patents in the US and New Zealand. Now, company had 20 granted patents from US & 23 granted patents from New Zealand.
  • Gujarat Pipavav Port hits all time high after Ministry of Commerce and Industry told that two new Customs Ports are being added to the list of 12 existing ports/ICDs to 14 for importing new vehicles.
  • Shakti Pumps gains in morning trades as within next 5 years company is planning to clock revenue of Rs 5,000 crore with the help of overseas acquisitions to strengthen its global footprints.
  • Diamond power gains as much as; bagged new order of Rs 3.32 bn.
  • BHEL surged 2% as commissioned three units of 270 MW each in just 42 days at a single site.
  • Infy gains after company plans to focus on the products business and is in the process of including core banking software Financle in its products.
  • Wipro gains planning to launch BPO (business process outsourcing) services in India with a focus on transaction processing.

ON THE FLIP SIDE:

  • Metal stocks dips on the back of negative news flow at the counter. Government delaying the process of signing agreement with the coal block allottees as it re-examines bids for five coal blocks.
  • Dr. Reddy’s lab dips 1.65%, Idea dips 4 percent in intraday on block deal.
  • Voltas reversed its four-day winning streak dips 3 percent on profit taking. In morning the stock touched a high of Rs. 291.80, and then slipped into the negative territory.

SOME STOCKS FOR NEXT TRADING SESSION:

  • GPPL gains on positive news, further positive momentum is expected; Buy GPPL EQ above 251 Targets 253.50/ 256/258.60 SL 248.30.
  • Suven life science gains after securing patents and hits fresh high; Buy Suven EQ above 298 Targets 300.90/303.90/307 SL 295.

GLOBAL MARKET:

  • European shares gains as the ECB’s (European Central Bank) asset-purchasing program continued to lend broad support to eq markets.
  • Australia dips led by Energy, Resources and Consumer Discretionary stocks. S&P/ASX 200 ends lower by 0.29%.

Today Market Trend:

– US Fed may decide to increase interest rate earlier than expected.

– Indian markets are expected to stay flat to positive because of positive sentiments flowing across the Asian markets. Investors and analysts have kept their focus on the FOMC meeting (US Fed Monetary Policy Review), starting from tomorrow. Markets could come down if US Fed decided to go for early rate cut i.e. Before May. USD appreciates against other currencies. INR tends to move up further (in charts) because of the above mentioned developments in the US. DLF is trading positive as SAT (Securities Appellate Tribunal) has ruled over SEBI and in favor of DLF. Nifty is trading near its resistance of 8650. Gold likely to see some selling pressure at around 25950. NCDEX Dhaniya looks positive on behalf of unprecedented monsoon which has damaged crops in the fields; supply will go down with respect to demand for the commodity.

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