Friday 20 February 2015

EQUITY DAILY MARKET ANALYSIS OF 23/02/2015

ECONOMY ANALYSIS
 Sensex tanks 231 pts, Nifty ends in red; BHEL, ITC gainers
 SpiceJet surges 18% on CCI nod to Ajay Singh's takeover
 Prestige pre-launches 2 Hyd projects, sees Rs 2700cr sales
 Sugar stocks rally as CCEA approves export subsidy
 BoAML sees 38% upside in Aurobindo, US growth key
 Crompton Greaves alters consumer products demerger scheme 

MARKET ANALYSIS
  • The S&P BSE Sensex snapped a 7-day winning streak on Friday. The index tanked over 200 points following weakness in European markets ahead of a crucial meeting of euro zone finance ministers in Brussels.
  • The market is likely to remain volatile next week ahead of F&O expiry and Union Budget.
  • The 30-share index ended at 29,231.41, down 230.86 points or 0.78 per cent. It touched a high of 29,462.09 and a low of 29,178.26 in trade today.
  • The Nifty closed at 8,828.20, down 67.10 points or 0.75 percent. It touched a high of 8,899.95 and a low of 8,816.30 in trade today.
  • Reliance IndustriesBSE -3.12 % (3.15 percent), ICICI BankBSE -2.20 % (2.35 percent), Tata PowerBSE -2.66 % (2.15 percent), InfosysBSE -1.82 % (1.91 percent) and Bharti AirtelBSE -1.98 % (1.78 percent) were among the index losers.
  • BHELBSE 5.18 % (up 5.20 percent), ITC (up 2.03 percent), Hindalco (up 1.12 percent), M&M (up 0.45 percent) and Dr Reddy's Laboratories (up 0.34 percent) were among the top Sensex gainers.
  • The market breadth was positive on the BSE with 1492 gainers against 1428 losers.

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