• Indian stock market daily morning report (May 04, 2015, Monday)

    Views on markets today

    - Benchmark indices ended lower for the second straight day, amid weak global cues, on losses in FMCG, IT, select financials and auto stocks as investors remained risk-averse in view of the expiry of April series of derivatives contracts.

    Worries over government's combative stance on capital gains tax, delay in passage of key reform-centric legislative proposals, weak Q4 corporate earnings and gloomy monsoon forecast which is likely to further dent rural demand kept the risk-appetite under check.

    The 30-share Sensex ended down 215 points at 27,011 and the 50-share Nifty closed down 58 points at 8,182.

    - Among the 12 BSE sectoral indices, 5 indices closed in positive while 7 indices closed in negative. Top Gainers: BSE Realty up by 1.54% and BSE Oil & Gas by 0.37%. Top Losers: BSE Metal down by 1.60% and BSE FMCG by 1.20%.

    Market breadth was negative at ~0.92 as investors sold large cap stocks. On provisional basis, FII's sold Rs 31.57bn worth of Indian equities while DII's bought Rs 24.60bn worth of Indian equities.


    Economic and Corporate Developments

    - Global agency Moody's today said any upgrade in India's sovereign rating will depend on implementation of policies by its leaders to improve business environment for private sector and for infrastructure growth.

    "How the recently elected leaders in India implement the pledges to improve infrastructure and governance will determine the credit trajectory of the sovereign," Moody's Investors Service said in a report. Moody's, which has given the lowest investment grade rating to India, named regulatory complexity and weak social and physical infrastructure as challenges before the country.

    - India and Japan today signed an action plan that will see doubling of Japanese investments into Indian companies in the next five years and boost two-way trade.

    The action plan was categorised into five broad areas development of selected townships in India as Japanese industrial townships, promotion of investment and infrastructure development, further development and cooperation in information technology, enhancing cooperation in strategic sectors and Asia-Pacific economic integration.

    Finance Minister Arun Jaitley, on Thursday, withdrew the clauses from the Finance Bill pertaining to setting up of the proposed Public Debt Management Agency (PDMA) and the amendments to the Reserve Bank of India Act which would have taken away Mint Road's powers to regulate government securities.

    The minister said however that the government, in consultation with the Reserve Bank, will prepare a roadmap to pursue a separate debt management agency later in line with the global practice.


    Buzzing Stocks

    - Exide Industries closed 5.57% down at Rs 171.20 on BSE in a volatile trade after the company reported 4.12% rise in net profit to Rs 137.59 crore on 1.99% rise in total income to Rs 1657.47 crore in Q4 March 2015 over Q4 March 2014.

    - ALSTOM India closed 3.26% down at Rs 714.05 on BSE after net profit declined 60.8% to Rs 71.93 crore on 18.7% fall in total income to Rs 848.09 crore in Q4 March 2015 over Q4 March 2014.

    - KPIT Technologies closed 15.36% down at Rs 105 on BSE, with the stock extending yesterday's 20% slide triggered by the company declaring weak Q4 result.

    - Five IT stocks closed 0.53% to 9.05% down on BSE on weak economic data in US, the biggest outsourcing market for the Indian IT firms. Infosys (down 0.98%), HCL Technologies (down 0.90%), Hexaware Technologies (down 9.05%), TCS (down 0.76%) and Wipro (down 0.53%) declined.

    - Man Industries (India) closed 3.07% up at Rs 68.75 on BSE after net profit jumped 1552.76% to Rs 44.79 crore on 85% rise in total income to Rs 654.82 crore in Q4 March 2015 over Q4 March 2014.

    - Jindal Steel & Power closed 4.16% down at Rs 139.55 on BSE after the Central Bureau of Investigation filed a chargesheet against the company's chairman and other individuals with allocation of Amarkonda Murgadangal coal block in Jharkhand.

    - Shares of VRL Logistics closed at Rs 293.30 on BSE, a premium of 43.07% over the initial public offer price of Rs 205.

    - Biocon closed 2.25% up at Rs 452.90 on BSE after consolidated net profit surged 78.22% to Rs 201.54 crore on 14.58% rise in total income to Rs 854.51 crore in Q4 March 2015 over Q4 March 2014.

    - Axis Bank closed 2.70% up at Rs 567.85 on BSE, with the stock extending yesterday's gain triggered by the bank's board approving a proposal for hiking in the cap of foreign investment in the bank.

    - Vedanta closed 1.38% up at Rs 210 on BSE in a volatile trade after the company reported consolidated net loss of Rs 19228.12 crore in Q4 March 2015 compared with consolidated net profit of Rs 1621.55 crore in Q4 March 2014.

    - State Bank of India closed 0.64% down at Rs 270.05 on BSE in a volatile trade after it signed an MoU with National Insurance Company to roll out accidental death and disability cover for savings bank holders covered under the Pradhan Mantri Suraksha Bima Yojana.

    - BHEL closed 2.13% up at Rs 237.20 on BSE after the company successfully commissioned the first 500 MW unit at the 2x500 MW Chandrapur Super thermal Power Project of Maharashtra State Power Generation Company Limiied in Maharashtra.

    - RIL closed 1.36% up and ONGC closed 0.52% down on BSE on government's decision to ease the norms of gas field development as this move is likely to benefit the oil and gas exploration companies.

    Contributed by Keynote Capitals
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.