END OF THE DAY REPORT (04 MAY 2015):
Markets surged finance bill boosts sentiment:
After trading under pressure for many sessions markets rebounded and gains nearly two percent after Lok Sabha approved the 2015-16 Finance Bill on Thursday as well as rally in auto and oil stocks. Nifty gains 150 points ends at 8330 while Sensex ends at 27490 gains 479 points.
HEADLINES FOR THE DAY:
- Fortis Healthcare moved higher by 12 percent on stake sale plan in Radlink.
- Glenmark gains after gets USFDA nod for generic psoriasis cream.
- Aditya Birla Group companies i.e. Pantaloons & ABNL (Retail and Aditya Birla Nuvo) gains as plan of its garments business into a single entity.
- Mastek gains on completing the acquisition of leading UK consultancy named IndigoBlue Consulting.
KEY STOCKS FOR THE DAY:
- FRL (future Retail) soars after its board gives nod for realignment & consolidation with Bharti Retail.
- ONGC and oil India gains on the positive news that Indian Govt has decided to scrap the fuel subsidy-sharing mechanism and bear the entire burden of the oil marketing co. for the financial year 2015-16.
- NTPC plans to build India’s biggest power plant with an annual generation capacity of 6400 Mw (megawatt) in a JV (joint venture) with Jharkhand state utility.
- Hindalco gains as company need not apply for fresh EC (environment clearances) for 4 blocks as the govt has transferred to them the approvals granted to the earlier allottees.
- Rolta zooms as signs a definitive agreement for establishing a JV (joint venture) with a leading International Electro-Optic company named Meprolight.
- Bajaj Auto gains after reported 1 percent rise on the back of strong growth in commercial vehicles segment that means positive sales number for the April month.
- M&M gains after reported 20 percent growth in April tractor exports sales at 1005 units.
- Maruti gains after posted 30% rise in total sales in April month stood at 111748 units’ v/s 86196 units in the same month last year.
- Tata Motors April total sales increase by 7 percent stood at 36205 vehicles.
- Adani Ports gains as much as after reported 49 percent rise in consolidated operation profit which stood at RS 1247 crore on yearly basis.
- Shares of Shriram Transport falls after posted 73 percent drop in net profit which stood at Rs 84 crore v/s 315 crore on yearly basis.
- Oberoi Realty surged after net profit for the March quarter stood at 77 crore a growth of 33 percent.
- NDTV dips as much as after reported a net loss of Rs. 17.21 for the march quarter.
- Shasun Pharmaceuticals gains after reported more than two-fold jump in consolidated net profit which stood at Rs 22.16 crore.
- Jubilant dips after reported a net loss for the march quarter of Rs. 54.39 crore v/s Rs. 75.52 crore.
SOME STOCKS FOR NEXT TRADING SESSION:
- Mastek EQ gains on the positive news of acquisition and on Technical charts stock breaks its important resistance of 397.70 and given closing above it which indicates more buying from here. Buy above 409 targets 413/417.20/421.40 maintain sl of 404.80.
- Fortis gains on the positive news of stake sale plan further more buying could be seen in next trading session, Buy above 178 its next resistance seen around 181.40-184.40 while support 172.50-169.50.
- European stocks were mixed as Greek debt talks continued and markets were jittery ahead of final data on euro zone manufacturing activity.
- Asian shares bounced off lows & the Australian dollar pared early losses as weak China factory activity reinforced views that Beijing will roll out fresh support measures soon for the world’s second-largest economy.
Today Market Trend:
– Tyre companies are expected to go down in coming session as government has increased import duties. COMEX Gold is expected to go above it resistance of USD 1185-86. COMEX oil looks weak; its immediate support is at USD 58.30.
– Market is likely to open up and could trade with moderate strength. Auto sector is in focus; Tata Motors sales up but lack strength. M and M sales went down in both domestic passenger sectors as well as in farm sector. Maruti Suzuki is on high after posting robust sales figure. Hero Moto sales went down. PSU stocks are in focus too after hiking petrol and diesel rates on Thursday after market hours.
If you want to know more about the Indian stock market you can follow my best online reputable advisory house Trifid Research that will always give you proper stock market knowledge and tips like Stock Tips, Option Tips, Forex Tips and Nifty Tips for all market investors & traders. He is also contributing on social page Twitter @trifidresearch and FaceBook @trifidresearch.