Profit booking takes a toll on Indian equity markets - Jainam Research

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Daily Post Market Review

Report Details –

1. Closing Commentary

2. News Round ups – Domestic

3. Asian Indices

4. Top 5 Gainers

5. Top 5 Losers

Equity Report

10th Sep, 2014

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Post session - Quick Review

Profit-booking took a toll on Indian equity markets for yet another session, thereby leading a down-

session of performance, which dragged both Sensex and Nifty below the psychologically crucial 27,100

and 8,100 levels respectively, with losses of around three tenths of a percent on Wednesday. Absence

of positive trigger at home front combined with somber global cues mainly triggered profit-booking at

Dalal Street. Meanwhile, prevailing caution ahead of Consumer Price Inflation (CPI), IIP data and trade

data for August added to the negative milieu. From the macros perceptive, street widely expects

Industrial production to grow 1.8% from a year earlier in July, slower than June's 3.4% increase, while

India's consumer price inflation, closely tracked by the Reserve Bank of India, is expected to come

down to 7.80% in August from July's 7.96%. Besides, plunge of frontline blue-chip stocks, also led to

pressure, especially the losses of ITC, Reliance and Infosys weighed on the sentiment.

In the extremely disappointing session of trade, where across the board selling took place, only stocks

from Realty and Power counters managed to evade the selling pressure. On the flip side, stocks from

Consumer Durables, Oil & Gas and FMCG counters were the top losers of the session. Meanwhile,

banking shares also suffered the brunt of profit-booking on reports that the collective exposure of

banks to coal blocks which are under legal scrutiny and related industries stands at a whopping Rs 4

lakh crore. Besides, Metal shares took a beating for yet another session after the Supreme Court (SC)

reserved its final order on whether the illegal coal block allocations should be axed, after the NDA

government and coal block allottees took to different stands on cancellation of the allotments

without referring them to a scrutiny committee. Additionally, Auto stocks which were holding up

during the session after data released by the Society of Indian Automobile Manufacturers (SIAM),

suggested that domestic passenger car sales grew by 15.16% to 153,758 units in August this year as

compared to 1,33,513 units in the same month of 2013, too surrendered to selling pressure by close

of trade. The market breadth on the BSE remained in the favour of advances; advancing and declining

stocks were in a ratio of 1743:1276, while 88 scrips remained unchanged. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 0.08%, while Small cap index up

by 0.60%. (Provisional)

The gaining sectoral indices on the BSE were Realty up by 0.61% and Power up by 0.11% while,

Consumer Durables down by 1.56%, Oil & Gas down by 1.49%, FMCG down by 1.48%, IT down by

1.06% and Capital Goods down by 0.99% were the losing indices on BSE. (Provisional)

India VIX, a gauge for markets short term expectation of volatility surges 1.35% at 12.93 from its

previous close of 12.73 on Tuesday. (Provisional)

The CNX Nifty edged lower by 58.85 points or 0.72% at 8094.10 after trading in a range of 8082.10

and 8135.75. There were 14 stocks advancing against 35 stocks declining on the index. (Provisional)



International Market:

Asian Indices Last Trade Change in Points Change in %

Shanghai Composite 2318.31 -8.22 -0.35

Hang Seng 24705.36 -485.09 -1.93

Jakarta Composite 5142.99 -54.13 -1.04

KLSE Composite 1870.85 -3.27 -0.17

Nikkei 225 15788.78 39.63 0.25

Straits Times 3338.63 -4.33 -0.13

KOSPI Composite - - -

Taiwan Weighted 9357.61 -77.16 -0.82

Sensex Top 5 Gainers:

Company Current Price % Change

SSLT 286.25 1.62

TATAPOWER 89.90 1.58

ICICIBANK 1571.40 1.53

BAJAJ-AUTO 2351.35 1.12

CIPLA 577.60 0.42

Sensex Top 5 Losers:

Company Current Price % Change

HEROMOTO 2682.15 -1.53

ITC 351.05 -1.51

INFY 3668.10 -1.31

COALINDIA 373.85 -1.31

HDFC 1016 -1.15

* Data are subject to change as per Market.



Research Team

Reports Published By Research Department:

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Profit booking takes a toll on Indian equity markets - Jainam Research

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