END OF THE DAY REPORT (01 JUNE 2015):
Market ends on a flat note ahead of RBI policy meet which held tomorrow.
Indian benchmark started the day on a sedate note despite positive economic data amid volatility ahead of RBI policy meet due tomorrow and ends on a quite flat note led by Pharma and banking stocks. Sensex ends at 27849 gains 21 points while Nifty holds 8400 marks and ends at 8433.
HEADLINES FOR THE DAY:
- Stocks included in MSCI India Index were in the limelight today, such as UPL, Marico Bharat Forge etc.
- Shares of ONGC dip 4%, while sun pharma falls 9% on weak Q4 numbers.
- Adani Enterprises fall ahead of restructuring of the business.
- Larsen & Toubro gains as much as after its arm (construction arm) bagged new order worth Rs 1099 crore.
- Cipla gains after reported better than expected Q4 numbers.
- MCX dips after FMC asked company increase shareholder representation on Board.
KEY STOCKS FOR THE DAY:
- Market capitalisations (M-Cap) of Bharti Group exceed Sun pharma’s group Market capitalisation as well as coming closer to Reliance group.
- Shares of Maruti seen some fresh buying after the company reported more than 13.8% jump in May sales number.
- IPCA Lab rebounds from its day low, stock slips 13% after reported 94% fall in Q4 net profit.
- Just Dial gains after the company told that board meeting will be held on 4th June to consider share buyback proposal.
- BEML moved higher after the company reported three fold jump in Q4 net profit for the Jan-March quarter against the loss.
- TVS Motors Total sales for the month of May stood at 2.2 lakh units against 1.97 lakh units on a yearly basis.
- BHEL gains 3% after wins new order of Rs 369 crore for installation and supply of PCP (power cycle piping).
- PSU bank index ends in a green zone while Bank index dips on the back of RBI policy meet.
- Reliance Capital gains after reported 52.4% jump in Q4 consolidated net profit.
- Share of DLF moved higher on the media reported that company crack two private equity deals of RS 1000 crore.
- Shares of Nestle fall on the media report that the case was filed against the co. for its Maggie product.
SOME STOCKS FOR NEXT TRADING SESSION:
- Shares of Ajmera dips for the 3rd consecutive day, more selling pressure could be seen in coming trading session. Sell below 151 targets 149.50/148/146.50 SL 152.40
- Welspunind EQ is moving in to upward channel pattern as well as given breakouts of all its important resistance and hits new high. More buying could be expected from here, buy above 578 targets 583.80/589.60/595.50 maintain SL of 572.
- European share gains as markets eyed upcoming data on German consumer prices and euro zone manufacturing activity, despite ongoing concerns over a potential Greek default.
- Shares of Australia dips as selling pressure seen in Consumer Staples, Metals & Mining and IT sectors.
- China shares gain as fresh buying seen in Electricity, Utilities and Software & Computer Services sectors.
NEWS TO WATCH OUT:
- Watch out for the Monetary Policy (Interest Rate Decision) i.e. on 2nd June 2015 (Tuesday).
Daily News Alerts
-Indian markets surged higher today on the back of strong FPIs (Earlier FIIs) buying. US stocks traded lower on Friday, weighed down by fresh worries about Greece defaulting on making payments to its overseas creditors and its likelihood to secure a deal with them. Vice versa macro data showed continued weakness in the United State (US) economy. Whereas on the domestic front, economists expect RBI to come up with 25 basis points cut in repo rate at this week’s policy meeting. GoI has already hinted RBI for reducing rates to kick start economy’s growth. Pharma sector has witnessed a slowdown in terms of profit growth in the last quarter.
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