Tuesday, 26 April 2016

SHAKY START, FANTASTIC FINISH!! NIFTY CLOSES 7950

BUY WOCKPHARMA ABOVE1040 TGT 1050/1070 SL 1020
Late hours rally pushed market higher. The Sensex ended with a gain of 328 points at 26007. Sensex opened at 25605 touched an intraday high of 26055 and low of 25549. The NSE Nifty closed with a gain of 107 points at 7963. The NSE Nifty opened at 7828 hitting a high of 7975 and low of 7823. The Indian Rupee was trading up 9 paise at 66.52 per US dollar. The Q4 earnings of India Inc has been better than expectations so far and that is helping support the markets. Maruti Suzuki shares rise nearly 3 per cent. The net profit of the automaker in its March quarter narrowly missed analysts' estimates but revenues were higher than expectations. The company announced a dividend of Rs 35/share. Stocks of cigarette manufacturers took a knock in Monday's trade amid reports that government may go ahead with complete ban on FDI in the tobacco sector. Reports said the government is in the process of bringing a proposal in front of the Cabinet in the coming few days. Out of 1,358 stocks traded on the NSE, 446 declined and 850 advanced today. A total of 26 stock registered a fresh 52-week high in trades today, whereas 15 stocks touched a new 52-week low on the NSE. Higher European markets and a rebound in banking stocks helped domestic markets recover from a weak start. Shares of State Bank of Mysore fall 2 per cent. The bank reported a 22.8 per cent fall in profit after tax at Rs 105 crore for the quarter ending March 31 as compared to Rs 136 crore in the corresponding period last year.
Hindalco, Idea Cellular, IndusInd Bank, Yes Bank, Tata Power and Maruti Suzuki were among the gainers on NSE, whereas Adani Ports, Bharti Infratel, Hero MotoCorp, UltraTech Cement, BPCL, RIL, Bajaj-Auto and HUL were among the losers today.

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