Wednesday, 25 May 2016

SENSEX ENDS 575 POINTS UP, NIFTY TOPS 7,900,MARKET RALLY LIKELY TO CONTINUE IN JUNE

"BUY WOCKPHARMA ABOVE 887 TGT 905/925 SL 866"
The Sensex jumped over 500 points, while the  Nifty50 settled above its key 7,900 mark. Benchmark indices ended over 2% higher, extending gains for second straight day amid a broad-based rally led by index heavyweights. From a closing level of 6,987 on February 29 when the government presented the Union Budget for FY17, the markets have gained ground steadily with the Nifty rallying over 800 points, or 12%, to reclaim 7,800 levels. This is the first time that the index has hit the 7,800 mark since January 06. Maruti Suzuki India plans to use 40% of its proposed capex of Rs 4,400 crore for the current financial year for new product development. Part of the investment will go towards the new, Rs 2,000-crore R&D and testing centre at Rohtak in Haryana. The capex in 2015-16 was Rs 2,400 crore. The stock zoomed over 3%. PI Industries rose 7% after the company reported a strong 58% year-on-year (YoY) growth in net profit at Rs 95 crore for the quarter ended March 2016 (Q4FY16). Tech Mahindra rallied 11% after the company reported a better-than-expected 18% quarter-on-quarter growth in consolidated net profit at Rs 897 crore for the quarter ended March, 2016 (Q4FY16). Indoco Remedies moved higher by over 11% after the pharmaceutical company announced that it has received US regulator nod for its manufacturing facility in Goa
GLOBAL MARKET
Among global peers, Asian shares jumped on Wednesday while the dollar firmed as upbeat US home sales supported the view that the economy may be strong enough for the Federal Reserve to raise interest rates in coming months. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.8%, its best one-day gain since late March. Japan's Nikkei closed up 1.6% as exporters got a boost from a weaker yen. Hong Kong's Hang Seng index gained 2.4%. European stocks edged higher as eurozone finance ministers and the International Monetary Fund (IMF) reached a deal to unlock more bailout funds for debt-burdened Greece.
TOP GAINERS:
Company
Group
Current Price
% Change
Indoco Remedies
B
299.90
+ 13.97
Asahi Songwon Colors
B
149.85
+ 10.96
Wheels India Ltd.
B
1,001.95
+ 10.91
Deccan Cements
B
770.10
+ 10.73
Tech Mahindra Ltd.
A
528.55
+ 10.29
Shreyas Shipping & L
B
266.50
+ 9.96
TOP LOSERS:
Company
Group
Current Price
% Change

VRL Logistics Ltd.
B
275.45
-12.58

VKJ Infradevelopers
B
97.15
-9.12
Cipla
A
470.30
-4.97

PG Electroplast Ltd.
B
116.00
-5.31

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