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Weekly-market: Fifth weekly rise for Indian markets on FII support; NSE, BSE gain 1%
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Saturday, October 6, 2012 |
| | | Market Commentary | | | Fifth weekly rise for Indian markets on FII support; NSE, BSE gain 1% | | The Indian markets rose for the fifth consecutive week due to continuous buying support from the overseas investors. The Sensex rose 0.94% and the Nifty was up by 0.77% for the week ended October 05, 2012. | |
 Major news for the week:
Indian indices The Indian markets wrapped up the week ended October 05, 2012 in green for the fifth straight week. The markets ended the 40th trading session of 2012 with the Sensex rising 0.93% and the Nifty up by 0.76%. India received a further push on Thursday, (October 04, 2012) with the cabinet approving legislative changes on foreign direct investment (FDI) in insurance ventures to 49% from 26% and opened the pension sector for overseas investors. The market sentiment was also boosted by data showing that foreign institutional investors (FIIs) remained buyers of Indian stocks during the week. The buying also boosted the Indian rupee which touched its six month high against the dollar.
Adding further, the truncated week gone by saw the Nifty moving up further and convincingly taking out the previous intermediate highs of 5720. Later there was a halt in the uptrend due to freaky Friday (October 05, 2012) the trading was halted at NSE for 15 minutes between 9:50 am and 10:05 am due to freak trade at one of the brokerage house. While clarifying on the same subject, the National Stock Exchange of India said, "Emkay Global Financial Services closed out the positions arising out of erroneous trades smoothly. The Sensex, however, witnessed correction below 19,000 mark on Friday, (October 05, 2012), as investors booked profits after a strong rally. The BSE Mid-Cap index rose 1.08% and the BSE Small Cap index rose 1.82%
The BSE Sensex rose 175.72 points or 0.94% to settle ay 18,938.46, while the NSE Nifty rose 43.65 points or 0.77% to close at 5,746.95 for the week ended October 05, 2012.
Weekly market trend from October 01 - October 05, 2012. -
The week gone by started trading session on a positive note. Benchmark indices traded higher on Monday, (October 01, 2012) as euro-zone debt worries eased after test results on Friday, (September 28, 2012), showed the stress to the Spanish banking system was within estimated limits. The NSE Nifty closed above the 5700 level for the second consecutive session, supported by positive European cues and appreciation in the Indian rupee. The Sensex closed at 18,823.91, up by 61.17 points and the Nifty rose 15.50 points to close at 5,718.80. -
Indian markets remained closed on Tuesday (October 02, 2012), on account of Gandhi Jayanti. -
Key benchmark indices rose for the third straight trading session on Wednesday, (October 03, 2012) as the market sentiments were boosted by data which showed that foreign institutional investors (FIIs) remained buyers of Indian stocks on Monday, (October 01, 2012). The Sensex closed at 18869.69 up by 45.78 points or 0.24% and the Nifty shut shop at 5731.25 up by 12.45 points or 0.22%. -
Indian indices traded higher for the fourth straight trading session on Thursday, (October 04, 2012), with support and positivism coming from the Asian as well as domestic market. The rally was attributed ahead of cabinet meeting that was to consider measures in companies, insurance, pension, competition and forward contracts act. The Indian rupee too continued to appreciate against the dollar. The NSE Nifty hit the key 5,800 mark while the BSE Sensex comfortably surpassed the 19,000 level. The Sensex ended at 19,058.15 up by 188.46 points while Nifty settled at 5787.60 up by 56.35 points. -
Indian Indices broke the four-day winning streak on Friday, (October 5, 2012), as profit booking weigh on the market sentiment. The BSE and NSE traded lower, failing to recover  from a freak trade that sent the Nifty down by over 900 points in early trade. The Sensex ended at 18,938.46 down by 119.69 points while Nifty settled at 5746.95 down by 40.65 points. Global indices
All the global markets closed on a positive note baring Nikkei which fell by 0.08%. Top gainers: CAC40 up by 3.05%, DAX100 surged by 2.52% and FTSE100 rose by 2.25%, Dow Jones up by 1.29%, Hang Seng rose by 0.83% and Nasdaq surged by 0.64%. Chinese markets were closed for the entire week for public holidays.
 Sectoral and stock screening
Among 13 sectoral indices, 10 closed the week on a positive note. The only 3 losers were BSE HC, which was down by 1.35%, BSE IT fell by 0.20%, BSE TECk slipped 0.09%. The top gainers were BSE Realty up by 5.55%, BSE CG rose by 3.49% and BSE CD surged 3.18%. Other gainers stood in the range of 0.56-2.40%. | | Looking at the 'A' group stocks, the top three gainers of the week were Essar Oil which was up by 19.09%, Adani Enterprises up 16.84% and Mangalore Refinery and Petrochemicals up by 12.49%. The top three losers of the week were Motherson Sumi Systems down by 27.73%, Ipca Laboratories down by 8.29% and Cadila Healthcare down by 5.67%.
FII/MF activity
The foreign institutional investors (FIIs) have been net buyers of the Indian stocks worth a net of Rs2019.2 crore, while the domestic investors were net sellers of Indian stocks to the tune of Rs735 crore during the week till October 04, 2012. | | TOP MOVERS (GROUP A) |  | | | | | | | | | | Adani Enterprises | 234.85 | 16.84 | | | Mangalore Refinery And Petrochemicals | 68.45 | 12.49 | | | | | Motherson Sumi System | 161.20 | -27.73 | | | | | Cadila Healthcare | 820.85 | -5.67 | | | | | |
| FII/MF ACTIVITIES | | | | | | | Gross purchase | 9,111 | 1,505 | | | | | Net investment | 2,019 | -735 | | | | | | | | Data as on October 04, 2012
| | | | Market Outlook
Indian markets will react to the influential US non-farm payrolls data for September 2012 on Monday (October 08, 2012).
The near term major trigger for the stocks is Q2 September 2012 results. Investors and analysts will closely watch the management commentary that would accompany the results which in turn may cause revision in their future earnings forecast of the company for the current year or the next year.
Adani Power will be in focus as promoter group firm Adani Agro has decided to sell part of its stake in Adani Power through the stock exchanges mechanism on Monday, (October 08, 2012).
Software major Infosys and private sector bank HDFC Bank will announce Q2 September 2012 results on Friday, (October 12, 2012).
The Central Statistics Office (CSO) will release data on industrial production for August 2012 on Friday (October 12, 2012). Industrial production had risen a tepid 0.1% in July 2012.
The CSO will unveil data on inflation based on the wholesale price index (WPI) for September 2012 on October 15, 2012.
The CSO will unveil data on consumer price index (CPI) for September 2012 on October 18, 2012. | | | | | | | |  | | | | | | To know more about our products and services, click here. |
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