INDIAN STOCK MARKET DAILY MORNING REPORT FOR TODAY 10-MAY

Views on markets today

Key Benchmark Indices snapped three-day wining streak as European stocks fell. The S&P BSE Sensex fell below the psychological 20,000 mark, having alternately moved above and below that mark in intraday trade. The Sensex was provisionally down 47.72 points or 0.24%, off 116.02 points from the day's high and up 38.63 points from the day's low. Nifty closed 19.5 points down to close at 6050.15.

Asian Paints fell 3.63% to Rs 4,673.60 on BSE after the company reported muted Q4 March 2013 earnings. Consolidated net profit rose 12.7% to Rs 1,113.90 crore on 13.9% increase in total income from operations (net) to Rs 10,970.74 crore in the year ended March 2013 over the year ended March 2012.

Union Bank of India surged 4.85% to Rs 250.80 on BSE as the bank's ratio of net non-performing assets to net advances decreased to 1.61% as on 31 March 2013, from 1.7% each as on 31 December 2012 and as on 31 March 2012. UBI's net profit rose 20.74% to Rs 2,157.93 crore on 17.89% growth in total income to Rs 27,676.73 crore in the year ended 31 March 2013 over the year ended 31 March 2012.

Among the 13 sectoral indices, 6 sectors closed in positive while 7 sectors closed in negative. Top Gainers: BSE IT up by 0.87%, BSE Teck by 0.50. Top Losers: BSE Healthcare by 1.62%, BSE Metal by 1.46%.

Market breadth was negative at ~0.82 as investors sold large cap stocks. On provisional basis, FIIs bought equities worth Rs 6.62 billion whereas DIIs sold equities worth Rs 4.76 billion.

Economic and Corporate Developments

According to Commerce Secretary SR Rao, India's exports are likely to register a growth of at least 10% in the current financial year on account of improving demand situation in major developed markets like the US. The US and Europe are the major export destinations for Indian exporters and they contribute over 30% in the country's total shipments. Due to the demand slowdown in these markets, India's exports started showing negative growth for eight consecutive months during May-December 2012 period.

According to Reserve Bank of India (RBI) Governer D Subbarao, RBI will inject liquidity through Open Market Operations (OMOs) to deal with any shortage of cash in the system.

Buzzing Stocks

Punjab National Bank jumped 4.78% to Rs 785 on BSE after net profit fell 20.59% to Rs 1,130.80 crore on 5.37% increase in total income to Rs 11,552.84 crore in Q4 March 2013 over Q4 March 2012. The Bank's net profit fell 2.80% to Rs 4,747.67 crore on 13.35% increase in total income to Rs 46,109.25 crore in the year ended March 2013 over the year ended March 2012.

Bajaj Hindusthan, the country's largest sugar producer, today posted a standalone net profit of Rs 1.95 crore for the second quarter ended March 31, 2013 over a net profit of Rs 8.78 crore in the same quarter last financial year, which runs from October to September. The Company said, results announced for the second quarter of the 2012-13 fiscal are not comparable with corresponding figures of the last year due to merger of Bajaj Eco-Tec Products Ltd with itself.

Jubilant FoodWorks lost 8.18% to Rs 1,010.30 on BSE after net profit rose 11.5% to Rs 32.71 crore on 29.3% growth in total income from operations to Rs 365.82 crore in Q4 March 2013 over Q4 March 2012. JFL's net profit rose 27.9% to Rs 135.11 crore on 38.4% growth in total income from operations to Rs 1407.57 crore in the financial year ended 31 March 2013 over the year ended 31 March 2012.

Indian Bank lost 1.28% to Rs 154.10 on BSE after net profit declined 15.42% to Rs 292.12 crore on 14.99% growth in total income to Rs 4022.46 crore in Q4 March 2013 over Q4 March 2012. The Bank's net profit declined 9.49% to Rs 1,581.13 crore on 13.18% growth in total income to Rs 15,179.41 crore in the year ended 31 March 2013 over the year ended 31 March 2012.

FOR MORE DETAIL JUST FILL THIS FREE TRIAL FORM

tock tips today, stock cash tips today,free share market tips for today, free stock tips, share market tips, intraday tips, free stock tips, free trial for share market tips, free equity tips, equity tips, stock future tips, stock cash tips, hni tips, premium tips, free premium tips,Commodity tips, share market tips for today.


 For more detail and to know about our free trial services you can get register with us on http://www.sonictrades.com/