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Thursday, April 28, 2016

Equity Tips

INDIAN BENCHMARKS: SENSEX PLUNGES 451 POINTS AFTER BOJ FED MEET, HDFC-ITC TOP LOSERS

The Bank of Japan's money policy statement this morning was rather benign, but along with that the April series F&O expiry was enough to trigger the biggest intraday plunge in the market since April 5.

Federal Reserve, which had kept key policy rates unchanged at 0.25-0.5 per cent, had raised hope early in the day; the SGX Nifty futures had showed a lot of strength this morning.

The policy statement of the Bank of Japan, which came in just half-an-hour ahead of the opening bell, played spoiler. What the US Fed could not do, BoJ did.

The 30-share pack eventually closed the day at 25,603.10, down 1.77 per cent or 461.02 points, while the broader Nifty50 ended at 7,847.25, down 132.65 points or 1.66 per cent.

HDFC (down 3.21 per cent), ITC (down 3 per cent), M&M (down 2.99 per cent), Maruti (down 2.94 per cent), and Gail (down 2.53 per cent) were the biggest losers in the Sensex pack. TCS (up 0.85 per cent), Axis Bank (up 0.59 per cent) and Lupin (up 0.44 per cent) were the only gainers.

UPCOMING RESULTS TOMORROW: ICICIBANK, IDFC, MARICO, OREROI REALITY, SRTRANSFIN, UPL, INTERGLOBE AVIATION

HEADLINES OF THE DAY
Dabur India Q4 consolidated net profit up 17% (YoY)
DLF launches Mall of India at investment of Rs1700 crores
ACC Q1 consolidated net profit down 4% (YoY)

The crucial resistance for Nifty SPOT is now seen at 7991 and above this 8135. Support for the immediate term is now placed at 7772 and next support will be 7663.

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