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Weekly-market: Hattrick of losses! Sensex, Nifty end in red for third week
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Saturday, February 16, 2013 |
| | | Market Commentary | | | Hattrick of losses! Sensex, Nifty end in red for third week | | The Indian stocks ended marginally lower for third straight week led by profit booking ahead of Budget 2013. The Sensex was down by 0.08% and the Nifty fell 0.27% for the week ended February 15, 2013. | |
 Major Headlines for the week:
Indian indices:
The Indian equities remained unpredictable throughout the week, the Sensex slipped 0.08% and Nifty was down by 0.27% in the 7th trading week of 2013. Profit booking was witnessed throughout the week, which kept the sentiments bearish. Investors booked profits across the board shrugging off positive cues like ease in inflation numbers and declined for the third consecutive week. The Indian markets ended the week marginally lower reflecting the negative sentiments; markets fell in three out of the five trading sessions of the week.
Adding further, the global credit rating agency Moody's Investor Service warned that India's expanding current account deficit and external debt will make the country more vulnerable to international financial volatility and have negative implications for its sovereign credit profile.
The BSE Sensex declined 16.62 points or 0.08% to settle at 19,468.15 while NSE Nifty dropped 16.10 points or 0.27% to settle at 5,887.40 in the week ended February 15, 2013.
Weekly market trend from February 11 - February 15, 2013 -
Indian shares marked their longest losing streak since May 2011 on February 11, 2013 for an eighth consecutive session as ONGC retreated ahead of its quarterly results, while financial stocks fell on concerns about slowing economic growth at a time of sticky inflation. Domestic passenger car sales declined by 12.45% to 1,73,420 units in January this year compared to 1,98,079 units in the same month of 2012. The Sensex closed at 19460.57, down by 24.20 points and the Nifty fell by 5.65 points to settle at 5897.85 in trade today. -
On February 12, 2013 the markets ended a volatile trading day in the green zone after losing for eight consecutive sessions, ignoring weak December IIP data, backed by gains in oil and gas stocks. India's industrial production fell to an unexpected -0.6% in December from a year earlier weighed down by manufacturing, government data showed on Tuesday (February 12, 2013). Also, India's annual consumer price inflation accelerated to 10.79% in January from the previous month, government data showed. The Sensex rose 100.47 points to close at 19561.04, while the Nifty advanced 24.65 points higher to settle at 5922.50. -
The Indian stocks gained for second straight session on February 13, 2013 and shut shop in the green terrain. India's exports rose an annual 0.8% in January and imports for the month rose 6%, leaving a trade deficit of $20 billion. The Sensex rose 47.04 points to close at 19608.08, while the Nifty advanced 10.45 points higher to settle at 5932.95. -
On February 14, 2013 the key indices ended lower, shrugging off better-than-expected Jan WPI, amid profit booking in auto, financials and telecom stocks. The headline inflation rate moderated to its lowest level in more than three years at 6.62% in January, helped by a slower rise in fuel and manufactured goods prices. Key benchmarks edged lower after State Bank of India, country's biggest lender, posted weaker-than-expected third quarter net profit and rise in bad loans exacerbating growth concerns The Sensex closed at 19497.18, down by 110.90 points and the Nifty fell by 36 points to settle at 5896.95 in trade today. -
The Indian markets closed in the red zone on February 15, 2013 as the equities traded on a subdued note led by selling pressure across the board. Benchmark share indices witnessed  another weak trading session amid volatility in Oil&Gas and IT shares. The broader markets ended mixed. The Sensex closed at 19468.15, down by 29.03 points and the Nifty fell 9.55 points to settle at 5887.40 in trade today. Global indices:
All the global markets closed the week mixed. Top Losers: DAX100 was down by 0.77%, Dow Jones fell 0.08% and Nasdaq slipped 0.06%. Top Gainers: FTSE100 up by 1.03%, Hang Seng rose 0.99%, Nikkei up by 0.19%.
 Sectoral and stock screening:
Among the 13 sectoral indices, top gainers- BSE PSU up by 0.34%, BSE HC rose 0.32%, BSE Bankex up by 0.31%. Top losers: BSE Realty fell by 5.39%, BSE CG slipped 3.98% and BSE Power was down by 2.79%.
| | Looking at the 'A' group stocks, the top three gainers of the week were Pidilite Industries which was up by 8.91%, Emami rose 6.74% and Jet Airways up by 6.01%. The top three losers of the week were Suzlon Energy down by 14.90%, Unitech down by 14.75% and Opto Circuits down by 13.03%.
FII/MF activity:
The foreign institutional investors (FIIs) were the net buyers of the Indian stocks worth a net of Rs2320 crore during the week till February 14, 2013; the domestic investors were also the net buyers of Indian stocks to the tune of Rs18.7 crore during the week till February 14, 2013.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Pidilite Industries | 256.65 | 8.91 | | | | | | | | | Suzlon Energy | 21.70 | -14.90 | | | | | Opto Circuits India | 60.05 | -13.03 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 13,000 | 1,786 | | | | | | | | | | | | | *Data as on February 14, 2013 | | | | Market Outlook for the coming week!
The Indian markets may witness more consolidation in the coming week as investors will choose to remain cautious ahead of the Union Budget 2013-14 which is to be presented in the Parliament on February 28, 2013. Investors will focus on changes, if any, in excise duty and service tax in the Budget.
All eyes will be rolling on the government's move to revive weak investment growth and economic reforms. A key figure to watch out is the divestment target for 2013-14. The Budget is expected to contain a clear roadmap for the implementation of Goods and Services Tax (GST) and subsidy bill. There has been some debate over taxing the super-rich. It also remains to be seen if there are measures to increase agriculture production to rein in food inflation.
The Budget Session of the Parliament will commence on February 21, 2013 and is likely to conclude on May 10, 2013. The government intends to present the revised National Food Security Bill in the Parliament during Budget Session for consideration and passage, so that the people are ensured of its benefits at the earliest. | | | | | | | |  | | | | | | To know more about our products and services, click here. |  | Sharekhan Ltd., Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400 042, Maharashtra. Tel: 022 - 61150000. BSE Cash-INB011073351; F&O-INF011073351; NSE - INB/INF231073330; CD - INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. | | | | "This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
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