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The report lists the major trends and happening in the Stock market. Latest trends in Nifty, Nifty 50, and Nifty Mid Cap etc are discussed in detail.
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Husains MARKET WRAP After a consolidation, equity benchmarks as well as broader markets ended lower for second consecutive session Tuesday with the Nifty falling below 7600-mark. Healthcare, infra, FMCG and technology stocks dragged market while rally in auto, metals and select banks stocks capped downside. The 30-share BSE Sensex dropped 65.94 points to 24900.46 and the 50-share NSE Nifty declined 18.10 points to 7597. The BSE Midcap and Smallcap indices were down more than 0.2 percent. The market breadth remained weak throughout the session - about two shares declined for every share advancing on Bombay Stock Exchange. Current volatility, following the rally last week, may continue in near term, feel experts. According to them, the Nifty may see expiry at around 7600 level but 7850 is likely in next series. BROAD MARKET INDICES INDEX P. CLOSE OPEN HIGH LOW CLOSE %CHANGE NIFTY 50 7,615.10 7,606.55 7,652.90 7,582.25 7,597.00 -1.31% NIFTY NEXT 50 18,376.45 18,349.45 18,435.45 18,210.45 18,369.60 -1.46% NIFTY100 LIQ15 2,886.75 2,891.25 2,918.40 2,867.95 2,895.25 -2.61% NIFTY MIDCAP 50 3,086.65 3,090.00 3,103.15 3,063.75 3,082.55 -1.53% Contact No. +91-903-977-7700 www.moneyclassicresearch.com
ASIAN INDEXES INDEX OPEN HIGH LOW CLOSE %CHANGE NIKKEI 225 17,103.53 17,103.53 17,103.53 17,103.53 -0.18% HANG SENG 20,386.32 20,386.32 20,250.15 20,366.30 0.10% TAIWAN 8,687.06 8,711.11 8,585.71 8,617.35 -0.85% SSE 2,956.71 2,962.20 2,905.25 2,920.55 -1.28% INDIAN MAJOR SECTORAL INDICES INDEX P. CLOSE OPEN HIGH LOW CURRENT %CHANGE NIFTY BANK 15,604.90 15,583.10 15,774.10 15,580.80 15,666.25 -1.78% NIFTY FIN SERVICE 6,463.45 6,444.60 6,500.10 6,441.60 6,453.95 -0.15% NIFTY PHARMA 10,960.05 10,940.30 10,940.30 10,353.90 10,665.25 -2.69% NIFTY IT 11,168.70 11,172.80 11,188.65 11,089.00 11,114.70 -0.48% Contact No. +91-903-977-7700 www.moneyclassicresearch.com
STOCK UPDATE Lupin's Mandideep unit receives US FDA observations Lupin 's Mandideep unit has been flagged by United States Food and Drug Administration (US FDA). In particular, the active pharmaceutical ingredient (API) and formulations units of the plant in Madhya Pradesh have received two observations each, reports CNBC-TV18. The pharma company's Mandideep unit was inspected by US FDA between February 8-19. IIFL says these are very serious observations, adding the company may take at least 18 months to complete remedial action. Estimates suggest the Mandideep unit could be contributing USD 200 million in revenues for Lupin. The unit is the second largest revenue contributor to the company's US business after its Goa plant. Contact No. +91-903-977-7700 www.moneyclassicresearch.com
STOCK UPDATE Allcargo Logistics To Raise Up To Rs 300 Crore Via Private Placement Allcargo Logistics will seek shareholders' approval to raise up to Rs 300 crore by issuing Secured Non-Convertible Redeemable Debentures (NCDs) on a private placement basis. One of India's leading integrated logistic solutions provider, the company has a network of 301 offices across 164 countries through its international subsidiaries. "Resource Raising Committee of the company at its meeting held on March 28, 2016, has considered and approved raising of funds up to Rs 300 crore by issue of NCDs on Private Placement basis," Allcargo Logistics said in a regulatory filing today. It will be issued in one or more tranche(s) from time to time subject to obtaining shareholders approvals by way of postal ballot/electronic voting and necessary statutory and regulatory approvals, it added. Contact No. +91-903-977-7700 www.moneyclassicresearch.com
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