Tuesday, 5 May 2015

Sensex, Nifty end lower amid volatility; metals surge

03:30pm Market ends: After a volatile session, the market has ended in negative terrain. The Sensex ended down 50.45 points at 27440.14 and the Nifty was down 11.25 points at 8320.70. Metal stocks jumped with top gainers like Vedanta and Tata Steel. ONGC, Hindalco and HUL were other gainers in the Sensex.

Among the losers were M&M, Bajaj Auto, HDFC, SBI and Coal India.

02:50pm South Indian Bank falls: South Indian Bank disappointed street on Tuesday with the fourth quarter net profit falling sharply to Rs 16.3 crore compared to Rs 124.6 crore in the year-ago period due to higher provisions.

Net interest income too declined 4.8 percent to Rs 347.1 crore from Rs 364.7 crore during the same period.

Provisions for bad loans jumped 4.9 times to Rs 137.7 crore during January-March quarter compared to Rs 28.3 crore in the corresponding quarter of last fiscal.

02:25pm Welspun Projects in focus: Welspun Projects today said Merrill Lynch Capital has raised its stake in the company to 7.55 percent . Prior to acquisition, Merrill Lynch Capital Markets Espana's stake in the company was 3.80 percent , Welspun Projects said in a regulatory filing.

The mode of acquisition was market purchase, it further said, adding that the buyout of 15 lakh shares by Merrill Lynch Capital took place on April 30.

Welspun Projects (WPL), formerly known as MSK Projects (India) and part of the Welspun Group, is into engineering, procurement and construction (EPC) projects across sectors like roads, water and industrial structures. 

02:00pm Market Check

The market remained volatile with the Sensex falling 84.39 points to 27406.20 and the Nifty declining 21.90 points to 8310.05.

About 1237 shares have advanced, 1391 shares declined, and 182 shares are unchanged on the Bombay Stock Exchange.

Neelkanth Mishra of Credit Suisse says their FY16/17 Nifty EPS estimates have been cut by 2 percent & 1.3 percent, respectively, with bulk of the cuts from energy stocks like Cairn, industrials like BHEL & cement. Second half of earnings season will be weaker than first half in FY16, he adds.

Asian market hit by weakness today. Shanghai closed with a 4 percent cut, its biggest loss in the last 4 months on news reports that several Chinese brokerages have tightened requirements for margin financing. Hang Seng lost more than 350 points today.

In stock action, Kotak Mahindra Bank surged 5 percent post reporting earnings better than estimates with profits of Rs 527 crore, a growth of 30 percent. The bank also announced bonus issue of 1:1. NIIT Technologies gained 4 percent on fourth quarter earnings. For more information please visit this site www.bigprofitbuzz.com


stockcash tips said...

silver futures for July delivery jumped 16.8 cents, or 1.04%, to trade at $16.30 a troy ounce. Futures dipped 1.8 cents, or 0.11%, on Friday to close at $16.13.
Stock Trading Tips

Priya Agrawal said...

I am visiting your blog daily, your market strategy is very good, I am also got a profit from your tips.

Priyanka Mishra said...
This comment has been removed by the author.
Priyanka Mishra said...

Really Informative post posted by you. that is beneficial to me and who trade in share market. NSE BSE Market Tips

BazarClicks said...

Being a potential investors, I have been following this blog for the last 2 months and found it very informative, which is very helpful for investors especially for new investors who are just going to start their investment in equity.
Intraday Tips

Equity Research Lab said...

This blog is really a great resource for financial advisor, even for those who plan to manage their stocks on their own.
equity tips
free trial

stockcash tips said...

The Nifty is up 51.70 points at 8243.20. About 424 shares have advanced, 83 shares declined, and 70 shares are unchanged.Tata Steel, Tata Motors, Cipla, ICICI Bank and Vedanta are top gainers in the Sensex.
Stock Market Tips

CapitalStars King said...

Really so informative blog and this types of blog or article very useful for investors because it has lots of information about market
Thank You
Nifty Futures

Vijay Sharma said...

it is really profit making blog kindly us all traders.........
Stock future tips

ashish ashu said...

This is the very nice update, it will help to gain the profit from the market.
Stock Market Tips
Share Market Tips

Alisha Singh said...

We try to take care of all your investment and technical needs in relevance to the Stock Market.

Bhoomi Desai said...

You written a very good article. You have suggest good information in this blog. please always provide day to day information for the inverters. Equity Tips

pranjali upadhyay said...

Really Nice and essential Blog . Your posting Contant Great Contant . for more information and accurate tips visit Stock Market Tips

Ways2 Capital said...


CapitalStars King said...

Now Sensex & Nifty high jump today, its good starting for a week about Share Market.
Sensex 300+ & Nifty 100+
Nifty Trading Tips