END OF THE DAY REPORT (23 April 2015):
Nifty ends shy of 8,400; Metal stocks gains:
Markets opened on a positive note but could not sustain on higher side fall sharply in noon trades amid high volatility despite of positive news of minimum alternate tax by the Govt as well as traders/investor remains cautious ahead of Infosys Q4 earning which is held tomorrow. Nifty ends below 8400, sheds 31 points ends at 8398 while Sensex down by 155 points to ends at 27735.
HEADLINES FOR THE DAY:
- Biocon gains after its arm Syngene filed an IPO with SEBI (Securities and Exchange Board of India).
- Coal India gains after CLSA maintain stock rating with BUY.
- IT shares dips for the seventh consecutive session on Q4 earning concern.
- For the weak Monsoon season ahead auto, FMCG, pharma ends lower.
- Tata power ends higher after rating agency S&P upgrade stock rating to stable from B+.
- TWL dips on stock split into 1:5 ratios.
KEY STOCKS FOR THE DAY:
- Yes Bank extends its previous day gains with huge volumes after board approves to hike its FII/FPI limit to 74 percent.
- KNR Constructions surged after saying that company won new projects for RS 937 crore from NHAI (National Highway Authority of India).
- Ramco Systems gain as much as after the company told that it opened its QIP today at a fixed per equity share floor price of Rs 668.03.
- Metals shares gains after research house starts rating on Indian Steel markers with buy rating, Tata Steel, JSW steel moved higher on this positive news.
- Shares of Maruti went higher on media reports that the company is planning to launch its new model in India this year.
- Shares of Jet Airways end on a flat to positive note as the company is planning to reduce its debt by selling 16 aircrafts and airbus.
- United Spirits Ltd which is also known by the name of MCDOWELL-N told that it’s Executive Director and Chief Financial Officer Mr. P. A. Murali has resigned from the company.
- L&T Finance moved higher after the company reported net profit (year on year) up by 10 percent stood at 206 crore, NII increased by 21% while NPA improved, stood at 1.98 percent.
- Everest Industries rallied in today’s trading session after reported 3 fold jump in Q4 net profit. Net profit for the March quarter stood at Rs 10.07 crore.
- HDFC Bank reported Q4 numbers, Net profit jump by 20.65 stood at Rs 2807 crore, while the NPA improves.
- MRF gains as today reported a 95 percent jump in Q2 net profit stood at Rs 332.6 crore v/s Rs 170.8 crore in the same quarter last year.
- Cera Sanitary today reported Q4 net profit up by 15% to Rs 22.1 crore recorded lowest topline growth due to weak demand.
SOME STOCKS FOR NEXT TRADING SESSION:
- Amtek India moved higher for the fifth straight week as shown good recovery from its lower level, more buying may seen from its current levels. Buy above 96.65 targets 97.60/98.60/99.60 SL 95.50.
- Chennpetro (Chennai Petroleum Corporation Limited) EQ had given breakout of its resistance in daily charts and given closing above it and finally closed with a Big green candle which indicates more buying, buy above 93.50 targets 94.50/95.50/96.50 maintain SL of 92.40.
- European shares dips after disappointing economic data/reports from Germany, France and Spain as well as concerns over Greece’s debt troubles persisted.
- Australia shares gains led by Metals & Mining, Resources and Materials stocks.
NEWS TO WATCH OUT:
- Watch out for the Quarterly numbers of Infosys, Siemens and Indiabulls Housing Finance Limited on Friday i.e. On 24th April 2015.
Daily News Alerts:
– INR is losing its ground against the USD. Export oriented companies are going to benefit out of it as their earnings will go up with existing volume of sales in USD. While oil, gas and other energy related companies will take a hit on their revenues.
– Nifty is expected to take support of 8366-70 and could bounce back in order to minimize its losses. Defensive traders should hold on to their existing buying positions.
– Nifty is expected to remain volatile today and will trade in a range of 8485 to 8585 in the futures. Cairn India and HDFC Bank announce Q4 results today. TCS aftermarket hours said that the company has partnered with Solace Systems, the leading provider of next generation messaging middleware solutions. Ashok Leyland said that Credit Analysis and Research (CARE) has revised and assigned assigned “CARE AA-” from CARE A for the company’s long-term bank facilities (good for the company). FM Arun Jaitley announced that GST Bill will be tabled in the current session of the parliament as it has finally received the support of the majority of the states. China reported a slowdown in manufacturing activity. The HSBC/Market ‘flash’ purchasing managers index slipped to 49.2 in April 2015 from 49.6 in March 2015; Metals are likely to take a plunge from current positions. COMEX Gold seems to move up and will settle for a while at approximately USD 1192-95. Whereas NYMEX Crude is expected to move up till USD 57.
You can follow Trifid Research that will give you depth, proper stock market knowledge how to enter and exit strategy and tips for example Stock Tips, Option Tips , Commodity Tips and Nifty Tips for all trader and investor. He is also contributing on Twitter @trifidresearch and FaceBook @trifidresearch page.