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Benchmarks continue to gyrate modestly in red

13 Jul 2016 Evaluate

Indian Equity benchmarks continue to trade in red terrain in noon deals as investors booked profits at higher levels, mainly in realty, banks and financial stocks. Investors remained are cautious with retail inflation inching up to a 22 month high level of 5.77 per cent in June against 5.76 per cent increase in the previous month. However, there was some support with the foreign portfolio investors (FPIs) remaining net buyers, purchasing shares worth Rs 212.92 crore yesterday, as per provisional data of the stock exchanges. On global front, Asian market were trading in green, taking their gains of the past few sessions forward, amid improved risk appetite following overnight gains on the Wall Street and a jump in crude oil prices and optimism that central banks will take further steps by way of stimulus to revive their respective economies.

Back home, in scrip specific development, share of RPP Infra rose after the company’s subsidiary got work order of High Commission of India Colombo worth of $10.36 million.

The BSE Sensex is currently trading at 27769.33, down by 38.81 points or 0.14% after trading in a range of 27752.14 and 27928.76. There were 9 stocks advancing against 21 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.58%, while Small cap index down was lower by 0.72%.

The top gaining sectoral indices on the BSE were Metal up by 1.32%, Oil & Gas up by 0.39%, IT up by 0.33%, TECK up by 0.20%, PSU up by 0.18% while, Realty down by 2.64%, Auto down by 0.79%, Power down by 0.58%, Capital Goods down by 0.54%, Consumer Durables down by 0.53% were the losing indices on BSE.

The top gainers on the Sensex were ONGC up by 3.67%, Tata Steel up by 3.01%, GAIL India up by 2.11%, Coal India up by 0.85% and Reliance Industries up by 0.71%. On the flip side, Maruti Suzuki down by 1.44%, Axis Bank down by 1.29%, Tata Motors down by 1.16%, Power Grid Corpn. down by 1.14% and Larsen & Toubro down by 1.01% were the top losers.

Meanwhile, the Centre will cut down the subsidy provided to the private firms, if they do not slash retail prices of non-urea fertilizers such as Di-ammonium Phosphate (DAP), Muriate of Potash (MoP) and NPK (Nitrogen, Phosphorus, and Potassium) by up to Rs 5000 per tonne. Retail prices of these fertilisers are decontrolled and are determined by the manufacturers, while the Centre gives them fixed subsidy each year.

Last month, the Fertiliser Ministry asked both public and private fertiliser companies to reduce the retail prices of non-urea soil nutrients and passed on same to the farmers as global prices of raw materials used in making complex fertilizers come down by $ 50-70 a tonne. Accordingly, state-run Rashtriya Chemicals and Fertilizers (RCF) and National Fertilizers (NFL) reduced the retail price of DAP by Rs 2,500 to Rs 22,000/tonne, MoP by Rs 5,000 to Rs 11,000/tonne, while complex fertilisers rates were brought down by Rs 1,000/tonne.

However, private firms did not cut the rates, Fertiliser Ministry has reportedly said that even the private companies have to reduce the prices. International prices have come down, they have to reduce the retail price. If they do not reduce the price, the subsidy will be cut down.

For this fiscal, total subsidy outgo is estimated to be Rs 21,274 crore for complex fertilisers. The cooperative major IFFCO and private companies Coromandel International, Deepak Fertilisers, Gujarat State Fertilisers and Chemicals, and Tata Chemicals have major share in these soil nutrients, whereas the PSUs held less than 10 percent.

The CNX Nifty is currently trading at 8501.80, down by 19.25 points or 0.23% after trading in a range of 8493.55 and 8550.25. There were 15 stocks advancing against 36 stocks declining on the index.

The top gainers on Nifty were ONGC up by 3.47%, BHEL up by 3.29%, Tata Steel up by 3.13% and GAIL India up by 2.30% and Kotak Mahindra Bank up by 1.11%. On the flip side, BPCL down by 2.52%, Tata Motors - DVR down by 1.83%, Maruti Suzuki down by 1.50%, Indusind Bank down by 1.33% and Axis Bank down by 1.23% were the top losers.

The Asian markets were trading mostly in green, Shanghai Composite increased 3.04 points or 0.1% to 3,052.42, KOSPI Index rose 14.32 points or 0.72% to 2,005.55, Taiwan Weighted jumped 16.29 points or 0.18% to 8,857.75, Hang Seng climed 84.63 points or 0.4% to 21,309.37, Nikkei 225 surged 135.78 points or 0.84% to 16,231.43.

On other hand, Jakarta Composite decreased 1.18 points or 0.02% to 5,098.35, FTSE Bursa Malaysia KLCI was down 0.31 points or 0.02% to 1,653.66

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
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BSE Enlistment No:	1187
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Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

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Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

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The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

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