EQUITY DAILY MARKET ANALYSIS OF 30/01/2015

MARKET ANALYSIS 

The Nifty bounced back in the last hour of trade and closed near 8,950 level on the back of short coverings on the last day of January series.

The government's decision not to appeal against Vodafone in tax case, stake sale in Coal India and lower crude oil prices acted as triggers for the market in today's session.

The 50-share index closed at 8,950.80, up 36.50 points or 0.41 percent. It
touched a high of 8,966.65 and a low of 8,861.25 in trade today.

Dr Reddy's Laboratories (up 3.94 percent), BPCL (up 3.87 percent), BHEL (up 3.40 percent), HDFC Bank (up 3.26 percent) and Ambuja Cement (up 2.69 percent) were among the Nifty gainers.

Punjab National Bank (3.51 percent), Asian Paints (3.17 percent), Bank of Baroda (2.93 percent), HDFC (2.63 percent) and SBI (2.36 percent) were among the index losers.

The market breadth was flat on the NSE with 733 gainers against 783
losers.

ECONOMY ANALYSIS

• Nifty ends Jan expiry at 8952, Sensex up 123 pts
• Dr Reddy's Q3 net falls 7% to Rs 575cr, OPM below estimates
• HDFC Q3 net rises 11.5% YoY at Rs 1425cr; in line