Skip to main content

Sensex slips for 5th day; Tata Motors down 3.4%, banks drag

03:30pm Market Closing: The market extended its southward journey for the fifth consecutive session today. The Sensex lost 30.30 points to 28161.72 and the Nifty fell 7.95 points to 8542.95.

About 1111 shares have advanced, 1701 shares declined, and 182 shares are unchanged on the BSE.
Banks pulled the market down again. HDFC Bank, ICICI Bank and State Bank of India shed around a percent each. Tata Motors plunged 3.4 percent.

03:10pm: Essar Group in focus: Essar Power will commence mining at its Jharkhand coal block in next few months to help the company restart its Mahaan power plant, lying idle due to lack of fuel since last 18 months.

"Essar Power MP, an arm of Essar Power, today announced signing the Coal Mine Development and Production Agreement with the central government for the Tokisud North coal block in Jharkhand," Essar Power said in a statement.

Essar Power MP owns and operates the 1,200 MW coal based power plant in Mahan, Madhya Pradesh, which has been set up with an investment of Rs 8,000 crore.

02:50pm Market Update: The market has been volatile in afternoon trade. The Sensex shed more than 200 points from day's high, up 21.41 points at 28213.43 and the Nifty rose 8.55 points to 8559.45.

About 1053 shares have advanced, 1668 shares declined, and 187 shares are unchanged on the BSE.
02:25pm FII View: The weakening in the Indian markets is on the back of the earnings cut seen over the past few months. The market has seen 5 percent cut in earnings in the last three months, is the word coming in from Neelkanth Mishra, head of equity strategy, India at Credit Suisse. He believes earnings could see further cuts post the March quarter.

According to him, investors are worried about weak demand across the economy. Cement, paints and consumer discretionary sales have seen weakness, he says.

Mishra feels the weakness is also on account of government's fiscal tightening. But on the brighter side, he believes there will be a government spending pick up from April 1, due to which the economy too will see an uplift. He sees the economy reviving in April-May. "India is not in a structural slowdown.

He says other economies such as Europe and Japan have started to look attractive at this point, but that won't lead to much of a waning in interest in Indian markets from FIIs. FII interest towards the Chinese market is increasing too, he adds. However, the interest for Indian equity market among institutional investors remains intact, he feels.

02:00pm Market Check

The market extended gains with the Nifty climbing above the 8600-mark supported by HDFC and Reliance Industries. The broader markets also recovered losses.

The Sensex rallied 255.01 points to 28447.03 and the Nifty climbed 73.50 points to 8624.40 while the BSE Midcap and Smallcap indices were flat with negative bias.

About 1088 shares have advanced, 1574 shares declined, and 182 shares are unchanged on the Bombay Stock Exchange.

Housing finance company HDFC, utility vehicle maker Mahindra & Mahindra and telecom operator Bharti Airtel jumped nearly 3 percent. Petrochemical major Reliance Industries also gained further, up 1.3 percent.

In the technology space, Wipro surged nearly 2 percent while rivals TCS and Infosys gained half a percent.

Pharma companies continued to be in focus today. Sun Pharma and Ranbaxy Labs gained 2 percent each after CCI approved their plan to divest all 7 brands to Emcure Pharma and the RBI allowed Sun to transfer Ranbaxy's overseas investments. Shasun Pharma and Strides Arcolab rallied 4-5 percent after the CCI gave its approval to the proposed merger between the 2 pharma companies. Dr Reddy's Labs advanced 1.5 percent on agreement with Hetro to accelerate access to hepatitis C treatment. However, Aarti Drugs tanked 6 percent after the US Food and Drug Administration (USFDA) issued an import alert on company’s Palghar unit in Maharashtra.

Shares of Sesa Sterlite, Cipla, NTPC, GAIL and BHEL rose over 1 percent while Tata Motors, SBI, HUL, Hero Motocorp, Tata Steel and Hindalco trimmed losses, down 0.7-1 percent. More information please visit this site  


  1. we thoroughly study the impact of the world markets on our Indian market and incorporate the risk-reward ratio quotient before offering smart trading tips for our investors
    Free Intraday Trading Tips


Post a Comment

Popular posts from this blog

Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Dark secrets of share market

Dark secrets of share market
Stock market has some dark secrets that no broker tells. And what is more surprising is that these secrets belong to the steps taken to make money.
Let’s see how positive things turn negative
1# Commodity price risk
When price of commodity escalates, it brings joy to the companies that see commodities as output. But for companies that see commodities as inputs see loss in increased. Companies that don’t deal in commodities also face difficulties with price escalation. It is so because the customers start selling commodities. And it won’t be an exaggeration to say that commodity pricing effects the entire economy.
2# Headline risk
Do you remember the news of Fukushima nuclear crisis? This news surfaced in 2011 and it drowned all the stocks related to businesses related to nuclear power like uranium miners. It is called headline risk and no business is free from this risk. A torrent ofnews-reports regarding a business can have an adverse effect on its commodity p…

Market Update: PSU bank index outperforms as PNB, Syndicate Bank jump 2-5%; JP Associates zooms 11%

The market breadth was in favour of the advances with 957 stocks advancing while 668 declined and 383 remained unchanged. On the other hand, in the BSE, 1176 stocks advanced and 888 declined and 108 remained unchanged.

The Indian markets on Friday morning were trading flat with the Nifty shedding 51 points or 0.49 percent  while the Sensex was down 178 points.

The Nifty PSU banking index was up 0.6 percent led by stocks like Syndicate Bank which jumped 5 percent followed by Allahabad Bank which gained over 3 percent. IDBI Bank and OBC were the other gainers. PNB gained 2.38 percent.

The top Nifty gainers included Mahindra & Mahindra and Aurobindo Pharma which were up 1.7 percent each followed by UPL, Yes Bank and Zee Entertainment.

The top Nifty losers included IOC and BPCL which fell 2 percent each followed by HPCL, Tata Motors and NTPC.

The most active Nifty stocks included IDBI bank which jumped over 3 percent while JP Associates zoomed over 10 percent after Rakesh Jhunjhunwala…