END OF THE DAY REPORT (13th MARCH 2015):
Sensex ends 427 pts lower; Nifty below 8650 on weak economic data;
After a strong opening market could not sustain on higher side, falls marked a sharp retreat from earlier gains on the weak economic data it was a biggest weekly fall of year. Some profit booking seen in banking stocks (SBI, Canara Bank, Yes bank dips more than 2 percent today).
Sensex fall 427points at 28503. Nifty ends below 8650 at 8647.75.
ABOUT CPI & IIP NUMBERS:
February CPI (consumer price index) rise to 5.37% from 5.11% manly due to rise in food inflation i.e. 6.7% with vegetables registering price sharply rise. January IIP (Industrial production) grew 2.6% from 1.7% on improvement in manufacturing activity and better off take of capital goods.
HEADLINES FOR THE DAY:
- Shares of Hindalco dips after Coal-gate probe comes to haunt Hindalco again.
- Jet Airways falls in early trades today n reports of Income Tax notice over TDS defaults.
- Finolex cables gains 11% on the back of heavy volumes.
- Cairn receives order from I-T Department; stock dips.
- Ceat Ltd dips on reports that govt is planning to hike the import duty on rubber.
- Indian Overseas Bank hits 52-week low after rating agency downgrade stock rating.
- INOX Leisure moved higher on FIIs buying.
- Insurance stocks gains for the second straight day as Upper house of parliament passes insurance bill that proposes increase in insurance FDI limit from 26% to 49%. Max, Reliance capital, Exide Industry gains on this positive news.
- NTPC issues bonus debentures of Rs 10307 crore, this worth is largest ever as bonus by any Indian company; stock gains.
- Voltas gains for the third straight day today and hits fresh high on the back of heavy volumes.
- Reliance capital extends its previous day gains after Sumitomo Mitsui completes acquisition.
- Natco Pharma gains for the sixth straight day and hits fresh high after company received nod generic anti-hepatitis C medicine sofosbuvir tablets (400 mg) from the Drugs Controller General-India (DCGI).
- DLF gains on reports that the SAT (Securities Appellate Tribunal) has quashed the order passed by the SEBI for alleged non-disclosure of information during its initial public offering.
- Telecom stock such as Idea Cellular, Bharti Airtel and Reliance Communications extends gains on positive news Idea Cellular hits 52-week high.
ON THE FLIP SIDE:
- FMGC stocks dips after February retail inflation rose to a four-month high of 5.37% mainly due to a hike in the prices of vegetables and pulses. ITC, HUL falls.
- IT stocks dips on profit booking; Wipro, TCS, HCL Tech, Tata Elxsi dips more than 1% in today’s trading session.
- Shares of Reliance infra were trading lower on reports as company plans to sell part of cement business.
- Tata Motor dips as much as after JLR (Jaguar Land Rover) reported 5.89% fall in Feb sales.
- Shares of JSW steel dips after company reported production of crude steel falls 2% at 94.7 lakh tonnes from 9.63 lakh tonnes.
SOME STOCKS FOR NEXT TRADING SESSION:
- Finolex Group shares were in demand; Buy Fincable EQ above 279.70 Targets 282.50/285.30/288.20 SL 276.50.
- Rajesh Export gains for the sixth consecutive session in an otherwise market and was trading near around its all time high; Buy Rajeshexpo EQ above 194.50 Targets 196.50/198.40/200.30 SL 192.
- European stocks ends on a flat note as the ECB (European Central Bank’s) asset purchase program continued to support, while investor concerns over Greece’s debt woes persisted.
- Asian shares gains on continued upbeat sentiment following a slew of regional central bank rate cuts, In the past two weeks China, India, Thailand and South Korea have cut rates.
- Australia stocks dips as losses in the IT, Metals & Mining and Materials sectors led shares lower.
News TO WATCH OUT:
- Watch out WPI number (Wholesale Price Index – YoY) on Monday i.e. on 16th March 15.
Trifid Research P. Ltd., which is an Investment & Trade Advisory Organization which offers excellent trading ideas and tips for Trade in all, segments Commodity, Equity & Forex Markets. We offer Option Tips and Stock Tips for Indian trader and other Global Stock Markets.