END OF THE DAY REPORT (08 JUNE 2015):
Markets fall for the fifth straight day; Nifty ends below 8050.
The market continued its southward journey for the fifth consecutive session to end at their lowest closing levels in 2015 on the back of PSU banks, Pharma, Media & Auto stocks. Nifty ends below 8050 mark at 8044 falls 71 points on the other side Sensex falls 245 points to end at 26523.
HEADLINES FOR THE DAY:
- Shares of spice jet rallied on expansion plans.
- Vedanta, Reliance (index heavy weights) dips on decline in crude prices.
- NIIT moved higher after the company said that they wins news contract from Statoil ASA.
- Eros Media hits new high on NSE on delisting buzz.
- Wockhardt Pharma falls after the USFDA asks to recall drugs.
KEY STOCKS FOR THE DAY:
- Shares of coal India gains in an early trade after Morgan Stanley and Barclays upgraded stock rating.
- Bank of Baroda dips after the bank had decided to revise its rates, which will be effective from today i.e. 08 June 2015.
- Steel shares were in focus after a finance ministry imposed anti-dumping duties ranging from dollar 180 to dollar 316 per tonne from select industrial-grade stainless steel
- Shares of Sun TV were under pressure as tanks more than 25 percent in Intraday after MHA (Ministry of Home Affairs) denies security clearance to channels.
- Share of Yes bank gains in an otherwise market after its shareholders gives nod for appointment of new MD, CEO that is Rana Kapoor.
- Share of Tata Motors falls as a slowdown in Chinese markets is likely to hit its revenue of JLR (its luxury brand).
- Banking stock extends its losses on profit booking; Oriental Bank, Union bank falls more than 4%.
- ONGC said that company is about to invest Rs 41678 crore; Stock falls.
- Shares of Bhushan steel gains as much as in an otherwise market on debt recast.
- Nestle India extends its losses Shares of Bhushan steel gains on debt recast.
- Adani enterprises, Cairn India fall and hits fresh low on NSE today.
SOME STOCKS FOR NEXT TRADING SESSION:
- Banking stocks dips on profit booking, Bank India shares also decline on profit booking, more selling pressure could be seen. Sell below 173.20 targets 171.50/169.75/168 SL 175.
- Shares of jswsteel fall and consolidate near around its crucial support level i.e. Of 863.10. More selling pressure could be seen below it if able to give breakout and sustain below it. Sell below 863.10 targets 854.50/846/837.50 maintain SL of 872.
- European shares decline on going concerns over Greek debt negotiations persisted although upbeat German data fuelled further optimism over the strength of the euro zone’s biggest economy.
- Japan shares fall led by Transportation Equipment, Power and Transport sector stocks.
Daily News Alert
– Indian markets are expected to trade weak on behalf of bearish global macro economic outlook. Reliance Power has signed an agreement with the Bangladesh Power Development Board to set up new power generation plant in Bangladesh.
– The RBI (Reserve Bank of India) is scheduled to announce CAD (current account deficit) data for Q4 March 2015 today. If CAD comes as per expectation then INR could see resistance and might gain a little against the USD, Which will help market a lot.
– OPEC has decided to keep its latest production output of oil unchanged. China’s exports fell 2.5 percent in May from a year earlier in dollar terms, after a drop of 6.4 percent in April. Asian markets are trading weak. Japan’s economy grew faster than initially estimated in the first quarter, as the world’s third largest economy continued its gradual recovery from last year’s recession on the back of robust exports to the US and China.
– US stocks finished mostly lower on Friday, June 5, 2015 as an upbeat jobs report increased expectations for an interest-rate hike this fall, in September-October. In Europe, Germany’s industrial production data for the April month 2015 is due today, 8 June 2015.
A well experienced financial adviser, author Trifid Research over 5 to 6 years of investing experience. His whole investor guide for beginners, Invest Informed, teaches each and everything you need to know to put your money in the stock market. Review his Stock Tips, Option Tips and Nifty Tips.