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Markets wrap last week of January in red; Sensex, Nifty lose over 1%
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Saturday, February 2, 2013 |
| | | Market Commentary | | | Markets wrap last week of January in red; Sensex, Nifty lose over 1% | | Rate sensitive stocks weighed on the market sentiments this week. The Sensex fell 1.60% and the Nifty lost 1.25% for the week ended February 01, 2012. | |
 Major Headlines for the week:
Indian indices:
The Indian indices remained volatile throughout the week, with the Sensex slipping 1.60% and Nifty down by 1.25% in the 5th trading week of 2013. Profit booking was witnessed throughout the week, which kept the sentiments bearish. Investors booked profits across the board after the Reserve Bank of India signaled that there is less room for aggressive policy rate cuts amid any negative surprise emanating from inflation and the twin deficits. Volatility ruled the D-street this week as traders rolled over positions in the futures & options (F&O) segment from the January 2013 series to February 2013 series. The Indian markets ended the week marginally lower reflecting the negative sentiments; markets fell in four out of the five trading sessions of the week.
Adding further, the RBI lowered its key policy rate for the first time in nine months on Tuesday January 29, 2013, but struck a cautious note on further easing as it waits to see how the budget aims to bring fiscal deficit under control.
The BSE Sensex declined 322.34 points or 1.60% to settle at 19,781.19 while NSE Nifty dropped 75.75 points or 1.25% to settle at 5,998.90 in the week ended February 01, 2012.
Major events:
The Reserve Bank of India (RBI) slashed the repo rate by 25 bps to 7.75%. The reverse repo rate will also be adjusted to 6.75% from 7%. The central bank has also announced a cut in CRR by 25 bps to 4%, effective February 9, 2013.
Weekly market trend from January 28 - February 01, 2013: -
Indian markets took a pause on January 28, 2013, ahead of RBI policy after rising in previous session and wrapped trade in the red zone. The Sensex shed 10.40 points to close at 20093.13 while the Nifty slipped 0.60 points to end at 6074.05. -
On January 29, 2013, the Indian indices remained volatile and closed the trading session in the red zone despite of rate cut by the RBI in its third quarter policy. The Sensex ended at 19,990.90, down by 112.45 points while Nifty closed at 6049.90, down by 24.90 points. -
Markets witnessed a dull session in trade on January 30, 2013 and shut shop in the green zone with no major action on the board. Indices remained virtually unchanged as compared to its previous close. The Sensex rose 14.10 points to close at 20005.00, while the Nifty advanced 5.85 points higher to settle at 6055.75. -
On January 31, 2013, key indices ended near day's low on January F&O expiry day as traders rolled over positions to the February series. the Indian rupee appreciated by 23 paise to trade at fresh three-month high of 53.07 against the US dollar in early trade at the Interbank Foreign Exchange on sustained selling of the American currency by exporters and banks and increased capital inflows. The Sensex settled at 19894.98, down by 110.02 points, while the Nifty shut shop at 6034.75, down by 21.00 points. -
Key benchmarks edged lower in choppy trade on Friday, February 01, 2013, after the results of a private survey showed that manufacturing output expanded at its slowest pace in three months in January 2013 as new orders grew at a weak pace and as power outages continued to hurt industrial activity. The BSE Sensex fell 113.79 points or 0.57% to 19,781.19, its lowest closing level since 11 January 2013. Global indices:
All the global markets closed the week mixed. Top Losers: CAC40 was down by 0.12%, DAX100 fell 0.31%. Top Gainers: Shanghai Composite up by 5.57%, Nikkei rose 2.42%, FTSE100 gained 1.00%, Nasdaq rose 0.93%, Dow Jones gained 0.82%, Hang Seng up by 0.60%. 
Sectoral and stock screening:Among the 13 sectoral indices, top gainers- BSE PSU up by 2.20%, BSE IT rose 1.68%, BSE Metal up by 1.33%. Top losers: BSE TECk fell by 2.94%, BSE Bankex slipped 1.69% and BSE Oil&Gas was down by 1.67%.
| | Looking at the 'A' group stocks, the top three gainers of the week were Suzlon Energy which was up by 39.34%, Essar Oil rose 23.21% and Adani Ports up by 15.66%. The top three losers of the week were Bharti Airtel down by 8.45%, Optu Circuits down by 6.39% and Colgate Palmolive down by 5.81%.
FII/MF activity:
The foreign institutional investors (FIIs) were the net buyers of the Indian stocks worth a net of Rs4107.8 crore during the week till January 31, 2013, while the domestic investors were net sellers of Indian stocks to the tune of Rs1204.1 crore during the week till January 30, 2013. | | TOP MOVERS (GROUP A) |  | | | | | | | | Suzlon Energy | 25.15 | 39.34 | | | | | Adani Ports & Special Economic Zone | 149.9 | 15.66 | | | | | | | Opto Circuits India | 79.8 | 6.39 | | | Colgate-Palmolive (India) | 1345.55 | 5.81 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 17,264.3 | 1,467.7 | | | Gross sale | 13,156.5 | 2,671.8 | | | Net investment | 4107.8 | -1,204.1 | | | | | | | | *Data as on January 31, 2013
**Data as on January 30, 2013
| | | | Market Outlook for the coming week!
In the coming week, investors and analysts will closely watch the management commentary that would accompany the result which could cause revision in their future earnings forecast of the company for the current year and or next year. Results for the week-Bank of Baroda, Cipla, ACC, Ambuja Cement, Mahindra & Mahindra, Sun Pharmaceuticals, Hindalco Industries, ONGC, Tata Power Company, Tata Steel, Coal India, BPCL, Tata Motors, Dr. Reddy's Laboratories and Ranbaxy Laboratories.
Markit Economics will unveil HSBC India Services PMI for December 2012 on Tuesday, February 05, 2013.
On the global front, Asian markets will react to the influential US non-farm payrolls data for January 2013 on Monday, February 04, 2013. | | | | | | | |  | | | | | | To know more about our products and services, click here. |
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