Tuesday 30 April 2013

Top 10 Dailies: 30 th April, 2013

Market Closed :
SENSEX 19504.18 (+116.68)
NIFTY 5930.20 (+26.10)

Commodity Market Update (Silver)


Precious metals are trading marginally lower today, the most actively traded Gold contract is at $1472.00, trading flat while Silver is at $24.38, down by 17 cents or 0.75% at the time of writing this. We expect prices to remain lower in a tight range for rest of the trading hours. Base metals prices are also trading flat on LME with three-month Copper is at $7130, lower by $23.00 followed by rest of the metals. On Crude and Natural Gas prices are trading mix, with Crude Oil at $94.5, adding just 0.06% while Natural Gas is at $4.386, down by just 0.14% till now.

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Morning Summary, Market Synopsis: 30 th April, 2013


The major Indian equity benchmarks started the day with a gap up on April 23, 2013. US markets closed near session highs with the S&P 500 setting a record close on upbeat economic data and European markets also ended higher on Monday .Asian markets were trading higher barring Japanese market. Hindustan unilever has made an open offer to buy 22.52% of the Voting Share Capital of the Company at a price consideration of INR 600 (Rupees Six hundred) per Share. This also enthused the market. On the other hand traders are waiting for RBI’s credit policy to be announced on May 3, 2013. All these have led the Sensex to trade near the level of 19562.43 i.e. up by 173.77 points & the Nifty to trade near the level of 5945.55 I.e. up by 41.45 points. The Midcap index and small cap Index are trading in green with the gain of half of a percentage point and four-tens of a percentage point respectively. On the sectoral front, all the indices are trading in green. FMCG Index is trading as the biggest gainer with the gain of nearly five and a half of a percentage point. This is followed by Metal Index which is trading with the gain of nearly eight-tens of percentage point. On the other hand, IT Index is the smallest gainer with the index being just marginally in positive.
Further, the market breadth is positively placed as nine stocks are seen advancing against five declining
stocks.

Detailed News : Pre Session

Market may open higher on firm Asian stocks http://goo.gl/cTo3r

Monday 29 April 2013

Closing Summary, Market Synopsis: 29th April, 2013


The Indian benchmarks ended on a flattish note with some positive bias on April 29, 2013. After opening flat, they were seen trading in the similar levels. However some buying in the second half propped up the sentiment a bit. Markets are getting ready for a busy week for economic data and central bank policy meetings in the euro zone and United States apart from India. RBI meet on credit policy is going to take place on May 3, 2013 and investors are non committal prior to the meet. The action was by and large limited around the stocks that had declared their results. All these led the Sensex to close at the level of 19387.50 i.e. up by 100.78 points and the Nifty to close at the level of 5904.10 i.e. up by 32.65 points. The midcap index and the small cap index closed in green with a gain of nearly seven-tens of a percentage point and a quarter of a percentage point respectively. On the sectoral front, all the indices,
except two closed in green. Consumer durables Index was the biggest gainer with the gain of nearly two and a half of a percentage point. This was followed by FMCG Index which closed with the gain of more than two and three-tens of a percentage point. On the other hand Metal Index closed as the major loser with a loss of eight-tens of a percentage point.

Further, the market breadth closed positive as four stocks were seen advancing against three declining stocks.

Commodity Market Update (Gold)


Precious metals are trading higher today with Gold spot prices are at $1471.60, adding 0.67% or $10.00 an ounce. Silver spot prices on international market is at $24.28 an ounce which is higher by 1.20% since the previous settlement. We expect prices to trade range bound with a mix bias for the day. On Base metals prices are trading mix with Copper is the most active to gain as much as 1.11% to trade at $7107.50 while rest of the metals are trading with marginal changes. Nickel is at $15331.00, higher by 0.80% while Lead and Zinc are trading lower by 0.15% each at $2035.00 and $1893.00 respectively. On NYMEX Crude Oil prices are at $93.37 and Natural Gas is at $4.25, adding 0.40% and  0.85% respectively.
Data to Watch: US Pending Home Sales m/m.

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Morning Summary, Market Synopsis: 29th April, 2013

Photo: Morning market update

The major Indian equity benchmarks started the day on a flat note on April 29, 2013.In the US markets, stocks finished mixed amidst lackluster trading on Friday. The S&P 500 and the Nasdaq snapped their five-day winning streak, after weaker-than-expected economic reports discouraged buying. However, Asian shares crept ahead on Monday, Markets are getting ready for a busy week for economic data and central bank policy meetings in the euro zone and United States apart from India. RBI meet on credit policy is going to take place on May 3, 2013 and investors are waiting for the same.  This week also is going to be a truncated one. All these led the Sensex to trade   near the level of 19350.02i.e.  up 63.30 by  points & the Nifty to trade near the level of 5890.35. i.e. up by 18.90 points. The Midcap index and small cap Index are  trading in green with the gain of four-tens of  a percentage point and quarter of a percentage point respectively.  On the sectoral front, all the indices, except two are trading in green. Auto Index is trading as the biggest gainer with the gain of nearly one percentage point. This is followed by IT Index which is trading with the gain of eight-tens of percentage point. On the other hand, Metal Index is the biggest looser with the loss of quarter of a percentage point.
 
Further, the market breadth is positively placed as three stock are seen advancing against two declining stocks.
The major Indian equity benchmarks started the day on a flat note on April 29, 2013.In the US markets, stocks finished mixed amidst lackluster trading on Friday. The S&P 500 and the Nasdaq snapped their five-day winning streak, after weaker-than-expected economic reports discouraged buying. However, Asian shares crept ahead on Monday, Markets are getting ready for a busy week for economic data and central bank policy meetings in the euro zone and United States apart from India. RBI meet on credit policy is going to take place on May 3, 2013 and investors are waiting for the same. This week also is going to be a truncated one. All these led the Sensex to trade near the level of 19350.02i.e. up 63.30 by points & the Nifty to trade near the level of 5890.35. i.e. up by 18.90 points. The Midcap index and small cap Index are trading in green with the gain of four-tens of a percentage point and quarter of a percentage point respectively. On the sectoral front, all the indices, except two are trading in green. Auto Index is trading as the biggest gainer with the gain of nearly one percentage point. This is followed by IT Index which is trading with the gain of eight-tens of percentage point. On the other hand, Metal Index is the biggest looser with the loss of quarter of a percentage point.

Further, the market breadth is positively placed as three stock are seen advancing against two declining stocks.

Detailed News : Pre Session , Market may open slightly higher http://goo.gl/uTGtM

Friday 26 April 2013

Morning Summary, Market Synopsis: 26th April, 2013

Photo: Closing Market Update:
The Indian benchmarks ended on a weak note on April 26, 2013. After opening weak, they were seen trading in the similar levels. Over the Last couple of weeks, benchmarks have moved up rapidly. Thus they were consolidating their gains. Traders were also cautious and non committal as they were waiting for the market to take a fresh direction. While Maruti declared better than expected Q4 performance,  ICICI Bnak’s Q4 performance was on expected lines. Next week outcome of RBI’s credit policy meet is expected to occupy the minds of investors. All these led the Sensex to close at the level of 19286.72 i.e. down by 120.13 points and the Nifty to close at the level of 5871.45 i.e. down by 44.85 points. The midcap index and the small cap index closed in red with the loss nearly two-third of a percentage point and more than half a percentage point respectively. On the sectoral front, all the indicies, except two closed in red. Auto Index was the biggest gainer with the gain of eight-tens of a percentage point. On the other hand Realty Index closed as the major looser with the loss of two and two-tens of a percentage point. This was followed by Oil & Gas Index which closed with the loss of one and six-tens of a percentage point. 

Further, the market breadth closed negative as five stocks were seen advancing against nine declining stocks.
The Indian benchmarks ended on a weak note on April 26, 2013. After opening weak, they were seen trading in the similar levels. Over the Last couple of weeks, benchmarks have moved up rapidly. Thus they were consolidating their gains. Traders were also cautious and non committal as they were waiting for the market to take a fresh direction. While Maruti declared better than expected Q4 performance, ICICI Bnak’s Q4 performance was on expected lines. Next week outcome of RBI’s credit policy meet is expected to occupy the minds of investors. All these led the Sensex to close at the level of 19286.72 i.e. down by 120.13 points and the Nifty to close at the level of 5871.45 i.e. down by 44.85 points. The midcap index and the small cap index closed in red with the loss nearly two-third of a percentage point and more than half a percentage point respectively. On the sectoral front, all the indicies, except two closed in red. Auto Index was the biggest gainer with the gain of eight-tens of a percentage point. On the other hand Realty Index closed as the major looser with the loss of two and two-tens of a percentage point. This was followed by Oil & Gas Index which closed with the loss of one and six-tens of a percentage point.

Further, the market breadth closed negative as five stocks were seen advancing against nine declining stocks.

Top 10 Dailies: 26th April, 2013

Market Closed :
SENSEX 19286.72 (-120.13)
NIFTY 5871.45 (-44.85)

Commodity Market Update: Copper


Precious metals are trading lower today, the most actively traded Gold futures is trading at $1461.00, lower by a dollar or 0.06% at the time of writing this and Silver is at $24.03, down by 15 cents or 0.63%. The near term price action is likely to remain range bound with a negative bias for the day. Base metals across the LME are trading marginally lower today, Copper witnessed the maximum decline of a percent to trade at $7107.25 followed by rest of the metals. Crude and Natural Gas are trading lower with Crude Oil at $93.01, lower by 0.67% and Natural Gas is at $4.154, lower by 0.30%.
Data to Watch: US Advance GDP

Morning Summary, Market Synopsis: 26th April, 2013

Photo: Morning Market Update:
The major Indian equity benchmarks started the day on a slightly weaker note on April 26, 2013. However, US markets closed off their best levels on Thursday, but the major indices still managed to close with marginal gains and European markets ended mixed. Asian markets are subdued in morning trade on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, after hitting its highest since mid-March on Thursday. The Indian benchmarks after a sharp rise in this week are consolidating their gains. Yesterday’s upmove was primarily due to short covering. Thus traders are non committal at higher levels.  All these led the Sensex to trade   near the level of 19331.81i.e. down by 75.04 points & the Nifty to trade near the level of 5886.90. i.e. down by 25.8 points. The Midcap index is trading in red with the marginal loss of four basis point of a percentage point and small cap index was trading in green with the gain of one fifth of a percentage point.  On the sectoral front, the indices are trading mixed. Realty Index is trading as the biggest gainer with the gain of nearly one percentage point. This is followed by Consumer Durables Index which is trading with the gain of quarter of percentage point. On the other hand, Bank Index is the biggest looser with the loss of more than one and quarter of a percentage point.
 Further, the market breadth is neutrally placed as one stock is seen advancing against each declining stock.
The major Indian equity benchmarks started the day on a slightly weaker note on April 26, 2013. However, US markets closed off their best levels on Thursday, but the major indices still managed to close with marginal gains and European markets ended mixed. Asian markets are subdued in morning trade on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was flat, after hitting its highest since mid-March on Thursday. The Indian benchmarks after a sharp rise in this week are consolidating their gains. Yesterday’s upmove was primarily due to short covering. Thus traders are non committal at higher levels. All these led the Sensex to trade near the level of 19331.81i.e. down by 75.04 points & the Nifty to trade near the level of 5886.90. i.e. down by 25.8 points. The Midcap index is trading in red with the marginal loss of four basis point of a percentage point and small cap index was trading in green with the gain of one fifth of a percentage point. On the sectoral front, the indices are trading mixed. Realty Index is trading as the biggest gainer with the gain of nearly one percentage point. This is followed by Consumer Durables Index which is trading with the gain of quarter of percentage point. On the other hand, Bank Index is the biggest looser with the loss of more than one and quarter of a percentage point.
Further, the market breadth is neutrally placed as one stock is seen advancing against each declining stock.

Thursday 25 April 2013

Closing Summary, Market Synopsis:25th April, 2013

Photo: Closing Market Update:
Key benchmark indices gained for fourth straight session, BSE sensex gained by 227 points  and the Nifty is up by 79.4 points.  Sectorwise Auto, Healthcare, Oil & Gas, Metal were the outperformers, whereas IT, Realty, consumer Durables were the laggards in today’s trading. Advance-Decline in Nifty stood at 686 advance to 557 declines.  Six stocks on the Nifty--Sun Pharmaceutical Industries, Lupin, ITC, IndusInd Bank, Housing Development Finance Corp, Dr Reddy's Laboratories—hit life-time highs today. These shares ended 1-5% higher.
 
Nifty and Bank Nifty rollovers provisionally stood at around 60%, and market-wide rollovers were nearly 64.Among sectors, metals, automobile, financials, realty, and capital goods saw 70-75% of open positions getting rolled over to the May series from the April series.
Key benchmark indices gained for fourth straight session, BSE sensex gained by 227 points and the Nifty is up by 79.4 points. Sectorwise Auto, Healthcare, Oil & Gas, Metal were the outperformers, whereas IT, Realty, consumer Durables were the laggards in today’s trading. Advance-Decline in Nifty stood at 686 advance to 557 declines. Six stocks on the Nifty--Sun Pharmaceutical Industries, Lupin, ITC, IndusInd Bank, Housing Development Finance Corp, Dr Reddy's Laboratories—hit life-time highs today. These shares ended 1-5% higher.

Nifty and Bank Nifty rollovers provisionally stood at around 60%, and market-wide rollovers were nearly 64.Among sectors, metals, automobile, financials, realty, and capital goods saw 70-75% of open positions getting rolled over to the May series from the April series.

Top 10 Dailies: 25th April, 2013

Market Closed : SENSEX 19406.85 (+227.49) NIFTY 5916.30 (+79.40)

Commodity Market Update: Natural Gas

Bullions are trading higher today with the most actively traded Gold on CMX is at $1445.00, adding 21 points or 1.15% at the time of writing this. Silver is at $23.32, higher by 44 cents or almost 2% till now. We expect prices to remain higher in coming session with Gold resistance at $1475.00 and Silver at $24.00. On base metals prices are trading mix with Zinc and Nickel are trading lower while Copper and Lead are the positive counters. Copper is at $77060.00, higher by 30 point or 0.45%. Crude Oil and Natural Gas is trading at $91.71 and $4.189, adding 0.27% and 0.50% respectively.

'Gold' or 'Stock'

Morning Summary, Market Synopsis: 25th April, 2013

Photo: Morning Market Update:
The major Indian equity benchmarks started the day with a strong gap up on April 25, 2013. However, It was a lackluster session on Wall Street on Wednesday with the Dow snapping a three-day rally to end lower, but European markets ended higher on rate cut expectations from the ECB. Again, Asian shares edged higher on Thursday, on hopes that the recent run of weak global economic data will push major central banks to keep or deepen their monetary stimulus to boost growth. Jet Airways was biggest gainer in early trade on news of Etihad picking up a 24 percent stake in the company at a substantial premium to the market price.. All these led the Sensex to trade   near the level of 19307.39 i.e. up by 128.3 points & the Nifty to trade near the level of 5884. i.e. up by 47.4 points. The Midcap index and the small cap index are trading in green with the gain of three-forth  of   a percentage point and nearly half a percentage point respectively.  On the sectoral front, except one, all the indices are trading in green. Oil & Gas Index is trading as the biggest gainer with the gain of more than one and seven-tens of a percentage point. This is followed by Auto Index which is trading with the gain of more than one and half a percentage point. On the other hand, IT Index is the biggest looser with the loss of more than one and half a percentage point.
 Further, the market breadth is positively placed as eight stocks are seen advancing against five declining stocks.
The major Indian equity benchmarks started the day with a strong gap up on April 25, 2013. However, It was a lackluster session on Wall Street on Wednesday with the Dow snapping a three-day rally to end lower, but European markets ended higher on rate cut expectations from the ECB. Again, Asian shares edged higher on Thursday, on hopes that the recent run of weak global economic data will push major central banks to keep or deepen their monetary stimulus to boost growth. Jet Airways was biggest gainer in early trade on news of Etihad picking up a 24 percent stake in the company at a substantial premium to the market price.. All these led the Sensex to trade near the level of 19307.39 i.e. up by 128.3 points & the Nifty to trade near the level of 5884. i.e. up by 47.4 points. The Midcap index and the small cap index are trading in green with the gain of three-forth of a percentage point and nearly half a percentage point respectively. On the sectoral front, except one, all the indices are trading in green. Oil & Gas Index is trading as the biggest gainer with the gain of more than one and seven-tens of a percentage point. This is followed by Auto Index which is trading with the gain of more than one and half a percentage point. On the other hand, IT Index is the biggest looser with the loss of more than one and half a percentage point.
Further, the market breadth is positively placed as eight stocks are seen advancing against five declining stocks.

Tuesday 23 April 2013

Daily Gainers and Losers: 23rd April, 2013

News Hour: Deal day for Bharti Airtel: To buy Warid Telecom Uganda; signs pact with Reliance Jio


MUMBAI: Bharti Airtel (BSE -0.43 %), the world's fourth largest mobile phone operator, said it had signed an agreement to buy rival Warid Telecom Uganda, in a move that will increase its customer base in Uganda by 60 per cent.


The deal with Warid, the No.3 mobile phone company in Uganda, will add 2.8 million customers to take its total user base in the country to 7.4 million, Bharti said in a statement on Tuesday. Financial terms of the deal were not disclosed. 

Bharti, India's top mobile phone carrier and ranked No.2 in Uganda, in 2010 ventured into Africa at a time when growth in its home market had started showing signs of saturation. The company, which bought money-losing operations in 15 African countries for $9 billion, has yet to turn a profit there. It operates in 20 countries across Asia and Africa. 

Deal with Reliance Jio 

In a separate announcement made earlier in the day, Reliance Industries' telecom arm will use Bharti Airtel's submarine cable network to provide data connectivity across Asia Pacific. 

Reliance Jio Infocomm Ltd, which had earlier this month signed a Rs 1,200 crore deal to share Reliance Communication Ltd's fibre optic network in the country to roll out its 4G services, will hire capacity on Bharti's i2i cable network connecting India to Singapore. 

"Bharti Airtel Ltd, a leading global telecom services provider with operations in 20 countries across Asia and Africa, and Reliance Jio Infocomm Ltd today announced that they have signed an Indefeasible Right to Use (IRU) Agreement, under which Bharti will provide Reliance Jio data capacity on its i2i submarine cable," a RIL statement said. 

Bharti and Reliance Jio will continue to build on this "strategic framework" and consider other mutual areas of cooperation and development, they said. 

The i2i cable's landing points are at Chennai in India and Tuas in Singapore. "Reliance Jio will utilise a dedicated fiber pair on i2i. The high speed link will enable Reliance Jio to extend its network and service reach to customers across Asia Pacific region," the statement said. 

Bharti's global network runs across 225,000 km, covering 50 countries and 5 continents. 

It includes ownership of i2i submarine cable system connecting Chennai to Singapore, consortium ownership of SMW4 submarine cable system connecting Chennai and Mumbai to Singapore and Europe, and new cable system investments like Asia America Gateway (AAG), India Middle East & Western Europe (IMEWE), Unity, EIG (Europe India Gateway) and East Africa Submarine System (EASSy). 

(Source: economictimes.indiatimes.com)

Closing Summary, Market Synopsis: 23rd April, 2013

Gains in select index heavyweights in the last hour of trade helped key share indices recover from near 1% lows to end almost flat. Nifty closed at 5837 up by 2.6 points and sensex closed at 19179, up by 9.53 points. Trade was choppy today mainly due to rollover of positions to the May derivatives contract. The current month series expire on Thursday. The stock market will be shut on Wednesday for Mahavir Jayanti. Sector wise Healthcare, IT & Oil & Gas were the outperformers in today’s market, whereas Capital goods, Realty and Bank index were the laggards. Of the 50 Nifty stocks, 22 advanced and 28 declined, Of the 30 Sensex stocks, 14 advanced and 16 declined.
Photo: Closing Market Update:
Gains in select index heavyweights in the last hour of trade helped key share indices recover from near 1% lows to end almost flat. Nifty closed at 5837 up by 2.6 points and sensex closed at 19179, up by 9.53 points. Trade was choppy today mainly due to rollover of positions to the May derivatives contract. The current month series expire on Thursday. The stock market will be shut on Wednesday for Mahavir Jayanti. Sector wise Healthcare, IT & Oil & Gas were the outperformers in today’s market, whereas Capital goods, Realty and Bank index were the laggards. Of the 50 Nifty stocks, 22 advanced and 28 declined, Of the 30 Sensex stocks, 14 advanced and 16 declined.

Commodity Market Update (Silver)


Precious metals are trading lower since morning with Gold trading at $1415.30, lower by almost half a percent or $6.00 while Silver futures dived by 2.43% or 57 cents to trade at $22.79 an ounce. LME base metals are trading lower due to weaker economic data from China and Germany which added concern over global economic outlook. 3-month rolling Copper contract tested a one and half months low of $6762.25 before settling at $6828.75, lower by 1.51% or $105, followed by rest of the metals. WTI Crude Oil futures losing since morning and trading at $88.33, declining almost a percent or 85 cents while Natural Gas is trading almost flat at $4.26 with an negative bias.

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Morning Summary, Market Synopsis : 23rd April, 2013

Photo: Morning Market Update :
The major Indian equity benchmarks started the day on a flat note on April 23, 2013.On Monday, US markets closed in positive as strong gains in materials and energy offset weak housing data and European markets ended mixed. Asian markets were trading on a cautious note today morning. After a quick rise in the benchmarks in last few days, profit booking is inevitable in Indian markets. On the other hand as investors are awaiting fresh triggers before firming up their view. All these led the Sensex to trade   near the level of 19125.10 i.e. down by 44.73 points & the Nifty to trade near the level of 5815.95 i.e. down by 18.45 points. The Midcap index and the small cap index are trading in green with the marginal gain of fifteen basis points of   a percentage point and four-tens of a percentage point respectively.  On the sectoral front, the indices are trading mixed. Metal Index is trading as the biggest gainer with the gain of more than one and half percentage point. This is followed by IT Index which is trading with the gain of more than half a percentage point. On the other hand, Capital Goods Index is the biggest looser with the loss of more than one and one-tenth of a percentage point.
 Further, the market breadth is positively placed as four stocks are seen advancing against three declining stocks.
The major Indian equity benchmarks started the day on a flat note on April 23, 2013.On Monday, US markets closed in positive as strong gains in materials and energy offset weak housing data and European markets ended mixed. Asian markets were trading on a cautious note today morning. After a quick rise in the benchmarks in last few days, profit booking is inevitable in Indian markets. On the other hand as investors are awaiting fresh triggers before firming up their view. All these led the Sensex to trade near the level of 19125.10 i.e. down by 44.73 points & the Nifty to trade near the level of 5815.95 i.e. down by 18.45 points. The Midcap index and the small cap index are trading in green with the marginal gain of fifteen basis points of a percentage point and four-tens of a percentage point respectively. On the sectoral front, the indices are trading mixed. Metal Index is trading as the biggest gainer with the gain of more than one and half percentage point. This is followed by IT Index which is trading with the gain of more than half a percentage point. On the other hand, Capital Goods Index is the biggest looser with the loss of more than one and one-tenth of a percentage point.
Further, the market breadth is positively placed as four stocks are seen advancing against three declining stocks.

Detailed News: PRE - SESSION

Market may open flat to slightly higher
Read more: http://goo.gl/mBmuy

Monday 22 April 2013

News Hour: Five reasons why Wipro may be under pressure in near term


NEW DELHI: Reacting to disappointing set of numbers in its quarterly results, WiproBSE -7.95 % shares plunged over 10 per cent in trade on Monday to mark its biggest fall since October 2008.

According to analysts, Q4 results were slightly below estimates, while Q1FY14 guidance was disappointing, at negative to 1.5 per cent growth.

Wipro continues to struggle with its recovery and does not give any definitive signals thatit is about to turn the corner in the next six months, fear experts.

Wipro's total revenues for the quarter ended March 31 stood at Rs 11,026 crore, up marginally from Rs 11,025 crore in the previous quarter, while its consolidated net profit was at Rs 1,729 crore, up 0.7 per cent from Rs 1,716 crore in the previous quarter.

However, what disappointed the Street most was the tepid revenue growth guidance for 1QFY14, which was lower than street as well as industry estimates.

JPMorgan downgraded the stock to 'neutral' from 'overweight' post the Q4 results. However, moderate valuations may still see the stock give 10 per cent plus returns over the next 9-12 months, added the JPMorgan note.

The global investment bank has a 12-month target price of Rs 369.05 on the stock. JPMorgan believes that the company is likely to rebound in FY15.

"We still think the process is right and the results should follow the right process but we find it difficult to put a time-line on the inflection point in Wipro's performance," said the JPMorgan note.

Going forward, weakness in spending environment, further rupee appreciation against the dollar, and continued supply side pressures is likely to weigh on margins and may keep the stock under pressure.

Brokerage firm Dolat Capital continues to maintain its sector underperformer call on Wipro owing to its dismal FY12/13 performance and moderate outlook for FY14, as evident from Q1 guidance.

Dolat recommends 'Reduce' rating on the stock, with a target price of Rs 335 valued at 12x of its FY15E earnings.

We have collated five data points from Dolat Capital reports as to why Wipro may remain under pressure in near-term:

Not walking the talk: Wipro has been repeatedly claiming of improvement in efficiency and focused strategy on booming technology areas but has been slowest growing company in our coverage group. About 50 per cent of revenues (BFS, Telecom and Retail) segment are down on their revenue run rate on YoY basis. It has also guided muted for Q1, raising further question on any recovery in near term.

(Source: economictimes.indiatimes.com)

Closing Market Update: 22nd April, 2013

Photo: Closing Market Update:
The Indian benchmarks ended on a positive note on April 22, 2013. After opening with a gap up, they soon corrected to touch the low of the day in the first half. A bout of fresh buying pushed the benchmarks up to close at the high of the day. The hopes of increased money flows into equities because of the recent weakness in commodity prices, as well as an improvement in India’s macroeconomic fundamentals, were driving the uptrend. However the market could be volatile as it is a truncated week and also F&O expiry is lined up on Thursday. Today’s rally was broad-based with mid and small cap shares rising in line with their large cap counterparts. All these led the Sensex to close at the level of 19169.83 i.e. up by 153.37 points and the Nifty to close at the level of 5834.40 i.e. up by 51.30 points. The midcap index and the small cap index closed in green with the gain of one and four-tens of a percentage point and nine-tens of a percentage point respectively. On the sectoral front, all the indicies, except two closed in green. Consumer Durables Index was the biggest gainer with the gain of four and quarter of a percentage point. This was followed by Realty Index which closed with the gain of three and four-tenth of a percentage point. On the other hand IT Index closed as the only looser with the loss of slightly more than two and two-third of a percentage point.  

Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.
The Indian benchmarks ended on a positive note on April 22, 2013. After opening with a gap up, they soon corrected to touch the low of the day in the first half. A bout of fresh buying pushed the benchmarks up to close at the high of the day. The hopes of increased money flows into equities because of the recent weakness in commodity prices, as well as an improvement in India’s macroeconomic fundamentals, were driving the uptrend. However the market could be volatile as it is a truncated week and also F&O expiry is lined up on Thursday. Today’s rally was broad-based with mid and small cap shares rising in line with their large cap counterparts. All these led the Sensex to close at the level of 19169.83 i.e. up by 153.37 points and the Nifty to close at the level of 5834.40 i.e. up by 51.30 points. The midcap index and the small cap index closed in green with the gain of one and four-tens of a percentage point and nine-tens of a percentage point respectively. On the sectoral front, all the indicies, except two closed in green. Consumer Durables Index was the biggest gainer with the gain of four and quarter of a percentage point. This was followed by Realty Index which closed with the gain of three and four-tenth of a percentage point. On the other hand IT Index closed as the only looser with the loss of slightly more than two and two-third of a percentage point.

Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.

Daily Gainers and Losers: 22nd April, 2013


Market Update :
SENSEX 19169.83 (+153.37)
NIFTY 5834.40 (+51.30)

Commodity Market Update (Gold)


Precious metals are trading higher today, the actively traded Gold futures is at $1433.61 added 2.14% or $29.60 at the time of writing this. Silver near month contract is at $23.58 an ounce, higher by 2.70% till now. We expect Gold and Silver to trade in a range for the day. Base metals across the LME are trading lower while Lead and Nickel are marginally positive to trade at $2020.00 and 15251.00 respectively. Copper is at $6934.75, lower by 0.82%. On NYMEX Crude Oil is at $88.79, higher by 80 cents and Natural Gas is at $4.32, lower by 1.80%.

Morning Market Update: 22nd April, 2013

Photo: Morning Market Update:
The major Indian equity benchmarks started the day with a gap up on April 22, 2013. This is on the back of positive session on wall  street and sustained buying by FIIs. Investors are building hopes on reform action as the Parliament session resumes today. However the market could be volatile as it is a truncated week and also F&O expiry is lined up on Thursday. All these led the Sensex to trade   near the level of 19071.42 i.e. up by 54.96 points & the Nifty to trade near the level of 5811.15 i.e. up by 28.05 points. The Midcap index and the small cap index are trading in green with the gain of more than half  a percentage point and seven-tens  of a percentage point respectively.  On the sectoral front, the indices are trading mixed. Consumer Durables Index is trading as the biggest gainer with the gain of more than two percentage point. This is followed by Bank Index which is trading with the gain of one and three-forth of a percentage point. On the other hand, IT Index is the biggest looser with the loss of more than two percentage points.
 Further, the market breadth is positively placed as nine stocks are seen advancing against five declining stocks.
The major Indian equity benchmarks started the day with a gap up on April 22, 2013. This is on the back of positive session on wall street and sustained buying by FIIs. Investors are building hopes on reform action as the Parliament session resumes today. However the market could be volatile as it is a truncated week and also F&O expiry is lined up on Thursday. All these led the Sensex to trade near the level of 19071.42 i.e. up by 54.96 points & the Nifty to trade near the level of 5811.15 i.e. up by 28.05 points. The Midcap index and the small cap index are trading in green with the gain of more than half a percentage point and seven-tens of a percentage point respectively. On the sectoral front, the indices are trading mixed. Consumer Durables Index is trading as the biggest gainer with the gain of more than two percentage point. This is followed by Bank Index which is trading with the gain of one and three-forth of a percentage point. On the other hand, IT Index is the biggest looser with the loss of more than two percentage points.
Further, the market breadth is positively placed as nine stocks are seen advancing against five declining stocks.

Detailed News: PRE - SESSION Market may open higher on firm Asian stocks

Read more: http://goo.gl/h4fNo

Saturday 20 April 2013

BMA iq: 20th April, 2013

News Hour: A stronger US may knock off gold from safe-haven pedestal


MUMBAI: Global fund managers have become increasingly bearish on gold with smart investors having found an excuse to dump long gold positions that were accumulated in recent years as a hedge against global risk.

The Cyprus government's announcement to sell gold triggered a global sell-off of the yellow metal, which was already under pressure on signs of recovery in the US economy, and Japanese stocks hitting record highs after the Government of Japanunveiled a $1.4-trillion stimulus to yank the country out of a decade-and-a-half of deflation.

US-based brokerage house, Bank of America Merrill Lynch's metals strategist, Michael Widmer says gold prices could fall another $150/ oz (31.10 gms) to $ 1,200/oz before they stablise. The brokerage firm has removed its $2,000/oz gold price target for 2014, and reduced core asset allocation towards precious metals from bullish to neutral.

Gold prices have plunged over $300/oz over the past eight weeks after having risen for 12 straight years after news surfaced that billionaire investor George Soros halved his holdings in the world's largest gold ETF, SPDR, during the quarter ended December 2012. UBS analyst Dominic Schnider says lack of investment demand due to receding inflationconcerns in the western world, a positive bias towards the dollar and a bull-run in US equitieshave triggered the fall in gold prices.

The brokerage house advises investors to stay away from gold for the time being. Amid this turmoil, one man who got his call right on gold prices was Goldman Sachs' global commodities research head Jeffrey Currie, who issued 'Sell' recommendation on April 10, before gold fell 13% in two sessions through April 15, the biggest decline in 33 years. Currie says gold prices may drop below $1,200/ oz temporarily, and has put the 2014-end gold price target at $1,270/ oz.

Global analysts are building a consensus view that gold might lose its 'safe haven' status as the US economy shows improvement, and several members were in favour of reducing Federal Reserve's asset purchase programme later this year, indicating confidence in the US economy. ICICI Bank's Global Market treasury research Group analyst Rupali Sarkar says gold prices will remain subdued this year, and hover around $1,400 to 1,450/ oz levels in the near term. She has put the 2013-end price target in the $1,330 to $1380/oz range.

Analysts say global investment demand for gold is likely to remain weak with continued trimming of positions in gold-backed exchange traded funds (ETFs). Assets in ETFs decreased to 2,406 metric tonnes on April 12, the lowest since August. They shrank 6.9% in the quarter through March, the biggest fall since 2004. Meanwhile, Indian households have lost over 14 lakh crore of their gold value as prices have crashed nearly 22% to 25,550 from its high of 32,460 in November 2012.

The wealth destruction in gold holdings of Indian households is more than that of total Indian public equity holdings, which is at 11.9 lakh crore, or around 20%, of the total market capitalisation of 61 lakh crore. According to World Gold Council, Indian households have nearly 20,000 tomes of gold, which is currently valued at 52.3 lakh crore, down from November's high of 66.5 lakh crore.

(Source: economictimes.indiatimes.com)

Thursday 18 April 2013

Closing Market Update: 18th April, 2013

Photo: Closing Market Update:
The Indian benchmarks ended on a strongly positive note on April 18, 2013. After opening flat, they moved up consistently scaling new highs every hour.  the narrowing of March trade deficit to a two-year low of USD 10.3 billion helped sustain the positive sentiment created by a decline in gold and crude oil prices. Falling commodity prices are a big positive for India and this could even prompt many foreign investors to increase their weightage for the country in their portfolio. All these led the Sensex to close at the level of 19016.46 i.e. up by 285.30 points and the Nifty to close at the level of 5786.10 i.e. up by 94.40 points. The midcap index and the small cap index closed in green with the gain of three-forth of a percentage point and six-tens of a percentage point respectively. On the sectoral front, all the indicies, except one closed in green. Consumer Durables Index was the biggest gainer with the gain of slightly more than two and a three-forth of a percentage point. This was followed by Capital Goods Index which closed with the gain of two and two-third of a percentage point. On the other hand IT Index closed as the only looser with the loss of slightly less than one-third of a percentage point. 
 
Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.
The Indian benchmarks ended on a strongly positive note on April 18, 2013. After opening flat, they moved up consistently scaling new highs every hour. the narrowing of March trade deficit to a two-year low of USD 10.3 billion helped sustain the positive sentiment created by a decline in gold and crude oil prices. Falling commodity prices are a big positive for India and this could even prompt many foreign investors to increase their weightage for the country in their portfolio. All these led the Sensex to close at the level of 19016.46 i.e. up by 285.30 points and the Nifty to close at the level of 5786.10 i.e. up by 94.40 points. The midcap index and the small cap index closed in green with the gain of three-forth of a percentage point and six-tens of a percentage point respectively. On the sectoral front, all the indicies, except one closed in green. Consumer Durables Index was the biggest gainer with the gain of slightly more than two and a three-forth of a percentage point. This was followed by Capital Goods Index which closed with the gain of two and two-third of a percentage point. On the other hand IT Index closed as the only looser with the loss of slightly less than one-third of a percentage point.

Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.

Commodity Market Update (Natural Gas)

Precious metals are trading higher today, the spot Gold prices are trading at $1396.95, adding $20.65 or 1.50% and Silver is at $23.54, higher by 0.90% or 20 cents at the time of writing this. Base metals were much lower during the starting hours but gradually pared its losses; three-month Copper is trading at $6952.00 which is down by 1.38% or $97.5 while rest of the metals are marginally lower till now. NYMEX Crude Oil is trading higher by a percent at $87.70 while Natural Gas is at $4.18, down by 0.66%. Traders will be waiting for the Unemployment Claims and Natural Gas storage report which is due to be released later today.
Photo: Commodity Market Update (Natural Gas):
Precious metals are trading higher today, the spot Gold prices are trading at $1396.95, adding $20.65 or 1.50% and Silver is at $23.54, higher by 0.90% or 20 cents at the time of writing this. Base metals were much lower during the starting hours but gradually pared its losses; three-month Copper is trading at $6952.00 which is down by 1.38% or $97.5 while rest of the metals are marginally lower till now.  NYMEX Crude Oil is trading higher by a percent at $87.70 while Natural Gas is at $4.18, down by 0.66%. Traders will be waiting for the Unemployment Claims and Natural Gas storage report which is due to be released later today.

"A small note on Investment"


“It wasn't until I was reading my fifth or so investment book, all by some of the great ones, that I realized that all successful investors use the same exact strategy... it only matters what the market does, not what it should do,” writes a wise reader. “You can't make money being wrong, and if you're not judging yourself by what the market does...you are going to be wrong a lot.”
 
Step Aside!


Well said. That’s some important perspective we all need to keep in mind.

When the market fails to confirm your thesis, it’s time to step aside. Traders say that they never “marry” a stock. That’s because once you fall into the story, you tend to lose perspective. You seek out only opinions that confirm your thinking, tossing all other analysis out the window. Inevitably, this behavior leads to ruin.

Even if you aren’t a trader, it’s important to adopt some of this thinking. You don’t have to drop all of the conviction from your investing strategies. Just know that it’s impossible to tame the market. If you try to fight it at key turning points, you’re going to get burned. 

The best strategy is to keep in mind that if your thesis has failed, its time to step aside.

Detailed News: Pre Session Full Story: http://goo.gl/rZKxX

Photo: Detailed News: Pre Session
Full Story: http://goo.gl/rZKxX

Morning Summary, Market Synopsis: 18th April, 2013

The major Indian equity benchmarks started the day on a flat note on April 18, 2013. This is in spite of the weak international cues as China worries and weak earnings pushed the Wall Street lower on Wednesday. Major indices slipped over a percent. European markets also ended lower with 2 percent cuts. Asian markets are in a negative mode on Thursday with Japanese market down more than a percent. Volatility is likely to continue in the market as we are coming closer to the settlement day. Excepting today, only three days will be left for derivative settlement. All these led the Sensex to trade near the level of 18803 i.e. up by 68.87 points & the Nifty to trade near the level of 5709.4 i.e. up by 20.7 points. The Midcap index and the small cap index are trading in green with the gain of four-tenth of a percentage point and one-third of a percentage point respectively. On the sectoral front, the indices are trading mixed. Capital Goods Index is trading as the biggest gainer with the gain of one and one-fifth of a percentage point. This is followed by Healthcare Index which is trading with the gain of three-forth of a percentage point. On the other hand, Metal Index is the biggest looser with the loss of one-third of
a percentage point.

Further, the market breadth is positively placed as three stocks are seen advancing against two declining stocks.

Wednesday 17 April 2013

Daily Top Gainers and Losers

Photo: Daily Top Gainers and Losers
NIFTY 5,688.70 (-0.25) 
SENSEX 18,731.16 (-13.77)
NIFTY 5,688.70 (-0.25) 
SENSEX 18,731.16 (-13.77)

Commodity Market Update (Crude Oil)


Precious metals are trading lower after a slight recovery on Tuesday. The most actively traded Gold futures on CMX is at $1382.5, lower by 0.20% and Silver is trading at $23.41, down by almost a percent at the time of writing this. Base metals on LME are trading in red with Copper at $7190.00, eased the most by 1.5% along with all other metals. Crude Oil futures are trading lower by 0.86% or $87.97 while Gas futures on NYMEX is at $4.18, adding almost 3 cents at the time of writing this.

Data to watch: US Crude Oil Inventories @ 8.00 PM.

Detailed News: PRE - SESSION Read more http://goo.gl/LhCzj

Photo: Detailed News: PRE - SESSION
Read more http://goo.gl/LhCzj

Morning Summary, Market Synopsis: 17th April, 2013

Photo: Morning Market Update:
The major Indian equity benchmarks started the day on a slightly positive note on April 17, 2013 on the back of strong US markets as they logged in a one percent rally with major indices closing near session highs. However, post opening, benchmarks were not able to sustain the higher levels achieved.  The slump in gold price and big correction in crude price has got investors interested in Indian equities once again. The better than expected third quarter earnings by HCL Tech also boosted   the sentiment. All these led the Sensex to trade   near the level of 18763.49 i.e. up by 18.56 points & the Nifty to trade near the level of 5700.90 i.e. up by 11.95 points. The Midcap index and the small cap index are trading in green with the gain of two-third of a percentage point and one-third of a percentage point respectively.  On the sectoral front, the indices are trading mixed. Realty Index is trading as the biggest gainer with the gain of two percentage point. This is followed by Metal Index which is trading with the gain of one and one-third of a percentage point. On the other hand, IT Index is the biggest looser with the loss of slightly more than one percentage point.
 Further, the market breadth is positively placed as nine stocks are seen advancing against five declining stocks.
Morning Market Update:
The major Indian equity benchmarks started the day on a slightly positive note on April 17, 2013 on the back of strong US markets as they logged in a one percent rally with major indices closing near session highs. However, post opening, benchmarks were not able to sustain the higher levels achieved. The slump in gold price and big correction in crude price has got investors interested in Indian equities once again. The better than expected third quarter earnings by HCL Tech also boosted the sentiment. All these led the Sensex to trade near the level of 18763.49 i.e. up by 18.56 points & the Nifty to trade near the level of 5700.90 i.e. up by 11.95 points. The Midcap index and the small cap index are trading in green with the gain of two-third of a percentage point and one-third of a percentage point respectively. On the sectoral front, the indices are trading mixed. Realty Index is trading as the biggest gainer with the gain of two percentage point. This is followed by Metal Index which is trading with the gain of one and one-third of a percentage point. On the other hand, IT Index is the biggest looser with the loss of slightly more than one percentage point.
Further, the market breadth is positively placed as nine stocks are seen advancing against five declining stocks.

Tuesday 16 April 2013

Closing Market Update: 16th April, 2013

Photo: Closing Market Update:
The Indian benchmarks ended on a very strong note on April 16, 2013. After opening flat, they started scaling new highs every hour of the day. The falling gold prices and crude prices helped traders believe that the current account deficit may get cut down. The falling inflation number announced yesterday also rekindled the hope that RBI can turn aggressive in its meet to be held on May 3rd and can cut interest rate by fifty basis points. All these led the Sensex to close at the level of 18744.93 i.e. up by 387.13 points and the Nifty to close at the level of 5688.95 i.e. up by 120.55 points. The midcap index and the small cap index closed in green with the gain of nearly nine-tenth of a percentage point and four-tenth of a percentage point respectively. On the sectoral front, the indicies closed mixed. Bank Index was the biggest gainer with the gain of nearly three percentage point. This was followed by Auto Index which closed with the gain of slightly more than two and half a percentage point. On the other hand IT Index closed as the biggest looser with the loss of half a  percentage point.  

Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.
The Indian benchmarks ended on a very strong note on April 16, 2013. After opening flat, they started scaling new highs every hour of the day. The falling gold prices and crude prices helped traders believe that the current account deficit may get cut down. The falling inflation number announced yesterday also rekindled the hope that RBI can turn aggressive in its meet to be held on May 3rd and can cut interest rate by fifty basis points. All these led the Sensex to close at the level of 18744.93 i.e. up by 387.13 points and the Nifty to close at the level of 5688.95 i.e. up by 120.55 points. The midcap index and the small cap index closed in green with the gain of nearly nine-tenth of a percentage point and four-tenth of a percentage point respectively. On the sectoral front, the indicies closed mixed. Bank Index was the biggest gainer with the gain of nearly three percentage point. This was followed by Auto Index which closed with the gain of slightly more than two and half a percentage point. On the other hand IT Index closed as the biggest looser with the loss of half a percentage point.

Further, the market breadth closed positive as five stocks were seen advancing against three declining stocks.

Daily Top Gainers and Losers

Commodity Market Update (Silver)


Gold seen having supported at $1320.00 an ounce and had recovered to trade around $1380.00 an ounce at the time of writing this. Gold spot prices are trading higher by 2.5% at $1383.00 and Silver spot prices are at $23.69, adding 4% from its last settlement. Base metals are also trading higher today with 3-month rolling contracts on LME gained almost a percent each. Copper is at $7284.00, higher by $80.00 and Nickel is at 15711.00, adding just $16.00 or 0.11%. Oil prices on NYMEX are trading lower today, the most actively traded Crude Oil is lower by 62 cents at $88.09 while Natural Gas is at $4.1510, up by 0.34% till now.

Morning Summary, Market Synopsis: 16th April, 2013

Photo: Morning market update :
The major Indian equity benchmarks started the day on a weak note on April 16, 2013 on the back of weaker US markets as two explosions at the Boston Marathon Finish Line left three dead and nearly 100 injured. Most Asian markets were lower today morning on the back of the risk off across world markets. But post opening, benchmarks soon started gaining ground and scaled the levels higher than that achieved yesterday. Investors are expected to keenly follow Mukesh Ambani’s flagship company Reliance Industries' movement in the stock market as the company announces its fourth quarter earnings today. Gold and silver prices will also be on traders' radar after its biggest two-day drop in 30 years.. All these led the Sensex to trade   near the level of 18522.33 i.e. up by 164.53 points & the Nifty to trade near the level of 5616.7 i.e. up by 48.3 points. The Midcap index and the small cap index are trading in green with the gain of quarter of a percentage point each.  On the sectoral front, the indices are trading mixed. Capital Goods Index is trading as the biggest gainer with the gain of one and half a percentage point. This is followed by Bank Index which is trading with the gain of slightly less than one and four-tenth of a percentage point. On the other hand, IT Index is the biggest looser with the loss of nearly two –third of a percentage point.

 Further, the market breadth is positively placed as three stocks are seen advancing against two declining stocks.
The major Indian equity benchmarks started the day on a weak note on April 16, 2013 on the back of weaker US markets as two explosions at the Boston Marathon Finish Line left three dead and nearly 100 injured. Most Asian markets were lower today morning on the back of the risk off across world markets. But post opening, benchmarks soon started gaining ground and scaled the levels higher than that achieved yesterday. Investors are expected to keenly follow Mukesh Ambani’s flagship company Reliance Industries' movement in the stock market as the company announces its fourth quarter earnings today. Gold and silver prices will also be on traders' radar after its biggest two-day drop in 30 years.. All these led the Sensex to trade near the level of 18522.33 i.e. up by 164.53 points & the Nifty to trade near the level of 5616.7 i.e. up by 48.3 points. The Midcap index and the small cap index are trading in green with the gain of quarter of a percentage point each. On the sectoral front, the indices are trading mixed. Capital Goods Index is trading as the biggest gainer with the gain of one and half a percentage point. This is followed by Bank Index which is trading with the gain of slightly less than one and four-tenth of a percentage point. On the other hand, IT Index is the biggest looser with the loss of nearly two –third of a percentage point.

Further, the market breadth is positively placed as three stocks are seen advancing against two declining stocks.

Monday 15 April 2013

Closing Market Update: 15th April, 2013

The Indian benchmarks ended on a positive note on April 15, 2013. After opening with a gap down, some buying support emerged which stabilized the benchmarks. The final impetus was given by the March WPI figures which hit a 40-month low at 5.96 percent. Core inflation data was also below 4 percent. Banking stocks closed with smart gains on hopes of a rate cut by the central bank in its credit policy on May 3. Gold & Silver prices took a dramatic U-turn on Monday, reversing early gains to drop to a two-year trough after bullion futures fell on fears about central bank sales and holdings on global exchange-traded funds sank to their lowest in more than a year. All these led the Sensex to close at the level of 18357.80 i.e. up by 115.24 points and the Nifty to close at the level of 5568.40 i.e. up by 39.85 points. The midcap index and the small cap index closed in green with the gain of fifteen basis points of a percentage point and four-tenth of a percentage point respectively. On the sectoral front, the indicies closed mixed. Oil & Gas Index was the biggest gainer with the gain of two and one-third of a percentage point. This was followed by FMCG Index which closed with the gain of slightly less than one and half a percentage point. On the other hand Consumer Durable Index closed as the biggest looser with the loss of more than two percentage points.

Further, the market breadth closed slightly positive as six stocks were seen advancing against five declining stocks.


Photo: Closing Market Update:
The Indian benchmarks ended on a positive note on April 15, 2013. After opening with a gap down, some buying support emerged which stabilized the benchmarks. The final impetus was given by the March WPI figures which hit a 40-month low at 5.96 percent. Core inflation data was also below 4 percent. Banking stocks closed with smart gains on hopes of a rate cut by the central bank in its credit policy on May 3. Gold & Silver prices took a dramatic U-turn on Monday, reversing early gains to drop to a two-year trough after bullion futures fell on fears about central bank sales and holdings on global exchange-traded funds sank to their lowest in more than a year. All these led the Sensex to close at the level of 18357.80 i.e. up by 115.24 points and the Nifty to close at the level of 5568.40 i.e. up by 39.85 points. The midcap index and the small cap index closed in green with the gain of fifteen basis points of a percentage point and four-tenth of a percentage point respectively. On the sectoral front, the indicies closed mixed. Oil & Gas Index was the biggest gainer with the gain of two and one-third of a percentage point. This was followed by FMCG Index which closed with the gain of slightly less than one and half a percentage point. On the other hand Consumer Durable Index closed as the biggest looser with the loss of more than two percentage points.  

Further, the market breadth closed slightly positive as six stocks were seen advancing against five declining stocks.