TODAYS MARKET BRIEF (from indiainfoline.com)
Indian markets ended in the red erasing previous days gains led by selling in the Oil & Gas, Metal, Auto and Power stocks. Markets cracked after Mainland China's top stock markets suffered their latest in a string of heavy falls Wednesday, with the Shanghai Composite Index closing down 4.3% and the Shenzhen Composite Index ending 4.9% lower. Resource companies were among the loss-leaders, with Jiangxi Copper Co. falling 7.6% and Yunnan Copper moving 7% lower.
A Dow Jones Newswires reported quoted a Southwest Securities analyst as saying that amid a lack of other market cues, a drop in global commodities had triggered the fall in Chinese shares. On Monday, the Shanghai Composite tumbled 5.8% -- its worst performance since November -- while the Shenzhen Composite dove 6.6%.
The BSE Sensex slipped 225 points or 1.5% at 14,809 after touching a high of 15,097 and a low of 14,684. The index opened at 15,079 against the previous close of 15,035. The NSE Nifty ended lower by 65 points to shut shop at 4,394.
In Asia, the Nikkei in Japan ended lower by 0.8% at 10,204 while Australia's S&P/ASX marginally slipped 0.2% at 4,373. The Hang Seng index in Hong Kong fell 1.7% at 19,954. Shanghai index in China declined 4.3% at 2,785.
In Europe, stocks were trading in red. The FTSE in the UK was down 0.9%. The DAX in Germany was down 1.2% and the CAC 40 index in France was down 0.8%.
Coming back to India, among the BSE sectoral indices, the Oil & Gas index was the top loser, losing 2.7%, followed by the Metal index that was down 2.3%. The BSE Auto index down 2.1% and the BSE Power index was down 2%.
The BSE Mid-Cap index lost 1.1% and the BSE Small-Cap index fell by 0.6%.
Within the Sensex, the major losers were ACC, Reliance Infra, RCom, Grasim, Tata Steel, M&M and Reliance Industries. Among the major gainers were HDFC, HDFC Bank and L&T.
Outside the frontline indices, the big losers in the broader market were Glenmark, Bharat Forge, Essar Oil, Balrampur Chini, RCF and Gujarat NRE Coke. On the other hand, gainers included Tulip Tele, IVRCL Infra, CESC, Bhushan Steel and GMDC.
Shares of Cipla erased early gains and ended lower by 2% to Rs259 after reports stated that the Delhi High Court dismissed German drug major Bayer Healthcares attempt to stop the drug regulator from giving marketing approval to Cipla for the generic version of Bayers patented cancer drug, Nexavar. The stock opened at Rs268 and made an intra-day high of Rs274 and a low of Rs257. Total traded volumes stood at 0.6mn shares.
Shares of Glenmark lost over 14% to Rs223 after Forest Laboratories, Inc. and Glenmark Pharmaceuticals SA Switzerland Once-daily treatment with Oglemilast did not show a statistically meaningful increase from baseline compared to placebo in the primary endpoint trough FEV1, a measure of pulmonary function that is decreased in patients with COPD.
Panacea Biotec was locked at 5% upper circuit to Rs174 after the Company received an award notification worth Rs10.67bn for supply of its EasyFive (pentavalent vaccine), from UNICEF for years 2010, 2011 and 2012.
EasyFive is world's first fully liquid pentavalent vaccine introduced in India by Panacea Biotec in January 2005, which immunizes children against five dreadful diseases (Diptheria, Tetanus, wholecellPertussis, Hepatitis B and Hemophilus Influenza Type b) of early childhood.
Shares of PSL Ltd gained by 2.5% to Rs145 after the company announced that it won order worth Rs2.1bn from Gail India. The stock opened at Rs142 and made an intra-day high of Rs148.5 and a low of Rs139. Total traded volumes stood at 0.4mn shares.
Shares of Sun TV erased early gains and fell 1% to end at Rs272. ~1.4mn equity shares of the company were transacted in a block deal. The shares were traded at an average price of Rs275 on the National Stock Exchange.
The stock opened at Rs280 and made an intra-day high of Rs281.9 and a low of Rs272. Total traded volumes stood at 1.46mn shares on NSE.
Megasoft announced that the board of directors approved the sale and transfer of the BlueAlly division as a going concern to Trianz Inc., US, which is a wholly owned subsidiary of Trianz Holdings Pvt Ltd, India.
The board of directors approved the price to be around US$13 to US$15mn. This is subject to the approval of the shareholders of the company.
Shares of Megasoft were locked at 20% upper circuit to end at Rs31.55. The stock opened at Rs26.7 and made an intra-day high of Rs31.55 and a low of Rs26.05. Total traded volumes stood at 2.9mn shares.
PLEASE LET ME KNOW IF YOU FIND THIS USEFUL.THIS MAY BE FOUND AT INDIAINFOLINE.COM
IF NOT, THIS WILL BE DISCONTINUED, AS THIS IS NOT MINE ANALYSIS
THANKS
Pranay
Indian markets ended in the red erasing previous days gains led by selling in the Oil & Gas, Metal, Auto and Power stocks. Markets cracked after Mainland China's top stock markets suffered their latest in a string of heavy falls Wednesday, with the Shanghai Composite Index closing down 4.3% and the Shenzhen Composite Index ending 4.9% lower. Resource companies were among the loss-leaders, with Jiangxi Copper Co. falling 7.6% and Yunnan Copper moving 7% lower.
A Dow Jones Newswires reported quoted a Southwest Securities analyst as saying that amid a lack of other market cues, a drop in global commodities had triggered the fall in Chinese shares. On Monday, the Shanghai Composite tumbled 5.8% -- its worst performance since November -- while the Shenzhen Composite dove 6.6%.
The BSE Sensex slipped 225 points or 1.5% at 14,809 after touching a high of 15,097 and a low of 14,684. The index opened at 15,079 against the previous close of 15,035. The NSE Nifty ended lower by 65 points to shut shop at 4,394.
In Asia, the Nikkei in Japan ended lower by 0.8% at 10,204 while Australia's S&P/ASX marginally slipped 0.2% at 4,373. The Hang Seng index in Hong Kong fell 1.7% at 19,954. Shanghai index in China declined 4.3% at 2,785.
In Europe, stocks were trading in red. The FTSE in the UK was down 0.9%. The DAX in Germany was down 1.2% and the CAC 40 index in France was down 0.8%.
Coming back to India, among the BSE sectoral indices, the Oil & Gas index was the top loser, losing 2.7%, followed by the Metal index that was down 2.3%. The BSE Auto index down 2.1% and the BSE Power index was down 2%.
The BSE Mid-Cap index lost 1.1% and the BSE Small-Cap index fell by 0.6%.
Within the Sensex, the major losers were ACC, Reliance Infra, RCom, Grasim, Tata Steel, M&M and Reliance Industries. Among the major gainers were HDFC, HDFC Bank and L&T.
Outside the frontline indices, the big losers in the broader market were Glenmark, Bharat Forge, Essar Oil, Balrampur Chini, RCF and Gujarat NRE Coke. On the other hand, gainers included Tulip Tele, IVRCL Infra, CESC, Bhushan Steel and GMDC.
Shares of Cipla erased early gains and ended lower by 2% to Rs259 after reports stated that the Delhi High Court dismissed German drug major Bayer Healthcares attempt to stop the drug regulator from giving marketing approval to Cipla for the generic version of Bayers patented cancer drug, Nexavar. The stock opened at Rs268 and made an intra-day high of Rs274 and a low of Rs257. Total traded volumes stood at 0.6mn shares.
Shares of Glenmark lost over 14% to Rs223 after Forest Laboratories, Inc. and Glenmark Pharmaceuticals SA Switzerland Once-daily treatment with Oglemilast did not show a statistically meaningful increase from baseline compared to placebo in the primary endpoint trough FEV1, a measure of pulmonary function that is decreased in patients with COPD.
Panacea Biotec was locked at 5% upper circuit to Rs174 after the Company received an award notification worth Rs10.67bn for supply of its EasyFive (pentavalent vaccine), from UNICEF for years 2010, 2011 and 2012.
EasyFive is world's first fully liquid pentavalent vaccine introduced in India by Panacea Biotec in January 2005, which immunizes children against five dreadful diseases (Diptheria, Tetanus, wholecellPertussis, Hepatitis B and Hemophilus Influenza Type b) of early childhood.
Shares of PSL Ltd gained by 2.5% to Rs145 after the company announced that it won order worth Rs2.1bn from Gail India. The stock opened at Rs142 and made an intra-day high of Rs148.5 and a low of Rs139. Total traded volumes stood at 0.4mn shares.
Shares of Sun TV erased early gains and fell 1% to end at Rs272. ~1.4mn equity shares of the company were transacted in a block deal. The shares were traded at an average price of Rs275 on the National Stock Exchange.
The stock opened at Rs280 and made an intra-day high of Rs281.9 and a low of Rs272. Total traded volumes stood at 1.46mn shares on NSE.
Megasoft announced that the board of directors approved the sale and transfer of the BlueAlly division as a going concern to Trianz Inc., US, which is a wholly owned subsidiary of Trianz Holdings Pvt Ltd, India.
The board of directors approved the price to be around US$13 to US$15mn. This is subject to the approval of the shareholders of the company.
Shares of Megasoft were locked at 20% upper circuit to end at Rs31.55. The stock opened at Rs26.7 and made an intra-day high of Rs31.55 and a low of Rs26.05. Total traded volumes stood at 2.9mn shares.
PLEASE LET ME KNOW IF YOU FIND THIS USEFUL.THIS MAY BE FOUND AT INDIAINFOLINE.COM
IF NOT, THIS WILL BE DISCONTINUED, AS THIS IS NOT MINE ANALYSIS
THANKS
Pranay
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