END OF THE DAY REPORT (06 MAY 2015):
Nifty below 8100 mark, dips 200 points to Jan lows; Realty index dips 4 percent.
The market closed at its lowest point of the calendar year on persistent selling by foreign funds amid continued concerns over retrospective taxation. Nifty below its crucial 200-DMA mark as falls 227 points ends at 8097 while Sensex break below its crucial psychological level of 2700 dips more than 700 points to end at 26717.
DOMESTIC WOES: Lok Sabha passes landmark GST Bill:
Lok Sabha today passed the Constitutional Amendment Bill that will bring in the GST (goods and services tax) paving the way for a new bill on the uniform tax regime even as the Congress Party staged a walkout in protest.
HEADLINES FOR THE DAY:
- Bank Nifty falls 600 points or more than 3 percent; Bank India dips 7%.
- Shares of Eros International fall after court convicts Salman Khan.
- Cement stocks fall 16 to 21 percent in the last few months on the back of lower demand.
- Metals stocks dip on profit booking; Jindal steel falls 8 percent.
- Elder Pharma dips on weak Q4 results reported net loss of Rs 46.02 crore.
KEY STOCKS FOR THE DAY:
- Bharti Airtel moved higher in an otherwise market on talk MSCI (Morgan Stanley Capital International) to raise weightage to 2.6%.
- Oil stocks dip on the bourses as oil prices hit their highest for the year; IOC, BPCL falls.
- The realty index plunged more than 4 percent today; HDIL falls 10 percent contributes the most to the index.
- Bank Baroda dips after it reduced its base rate by 25 basis points from 10.25 percent to 10 percent with effect from today.
- Ajanta Pharma gains on the back of heavy volumes plus on the positive news that NSE announced that the stock along with 6 others will be included in its F&O (futures and options) segment from 29 May.
- Torrent Pharma moved higher after it has signed agreement i.e. share purchase agreement to acquire 100% stake in Zyg Pharma Private Limited.
- Dabur gains after reported strong Q4 numbers, Net profit stood at Rs 285 crore v/s 235 crore on yearly bases.
- Jubilant Industry, Britannia Industry hits new high on NSE in an otherwise market.
- LIC Life Insurance Corporation of India today bought shares of Rs 1116 crore.
- Wock Pharma falls more than 10 percent today after the company decided to recall the drug.
- Hexaware today appointed MR sunder Madakirshira as Chief Marketing Officer of Hexaware.
SOME STOCKS FOR NEXT TRADING SESSION:
- Jubilant Industry EQ hits fresh high in an otherwise market today with huge volumes, More buying could be expected from current levels as stock ends with a big bullish candle in daily and weekly charts, Buy above 141 targets 142.40/143.80/145.30 maintain stop loss of 139.50.
- Ambuja Cement EQ was trading near around its support level could not breach in today’s trading session as well as fall due to low demand of cement on this negative news flow more selling pressure could be seen in the next trading session, Sell below 224 targets 221.80/219.60/217.40 maintain SL 226.30.
- European shares fall despite upbeat Spanish data (service sector data) and as investors remain cautious on upcoming reports for the entire euro zone.
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