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Weekly-market: Markets down for second straight week; Sensex slips below 19,500
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Friday, February 8, 2013 |
| | | Market Commentary | | | Markets down for second straight week; Sensex slips below 19,500 | | The Indian markets ended lower for second straight week. The Sensex was down 1.50% and the Nifty fell 1.59% for the week. | |
 Major Headlines for the week:
Indian indices:
The losing trend continued in the Indian markets for the second straight week, with the Sensex closing the week down by 1.50% and the Nifty down by 1.59%. Profit booking was witnessed throughout the week, which kept the sentiments bearish. Investors booked profits across the board on the back of domestic and global woes. Markets fell in all the five trading sessions of the week.
The BSE Sensex declined 296.42 points or 1.50% to settle at 19,484.77 while NSE Nifty dropped 95.40 points or 1.59% to settle at 5,903.50 in the week ended February 01, 2012.
On the economic front, the major events that took place were:- -
The HSBC services purchasing managers' index (PMI) rose to 54 in January, up from December's 51.7, moving more comfortably into territory above the 50-point threshold that separates accelerating from slowing growth. -
The government pegged FY13 GDP data lowered at 5% versus 6.2% (YoY), a government statement said today, citing provisional estimates. The latest estimate is the worst of all growth projections issued by the government and the RBI. Weekly market trend from February 04 - February 08, 2013: -
On February 04, 2013, the first trading session of the week, Indian stocks lost grounds after rallying in morning session and shut shop in the red terrain. The markets opened higher led by buying in majority of the sectors, backed by buying demand in auto and banking shares. The markets slipped in the noon deals due to profit booking across the board. The Sensex shed 30.00 points to close at 19751.19 while the Nifty slipped 11.65 points to end at 5987.25. -
On February 05, 2013, the markets registered heavy losses on the back of profit booking across the board. Fall in the rupee and weak global cues also weighed on the market sentiments. The Sensex shed 91.37 points to close at 19659.82 while the Nifty slipped 30.35 points to end at 5956.90 -
On February 06, 2013, the third trading session of the week, Indian markets closed flat even after a positive start. The markets reversed the gaining trend and fell owing to selling pressure despite positive opening of European markets. Volatility hovered all around with Sensex and Nifty swinging between negative and positive zone. The Sensex closed at 19639.72, down by 20.10 points and the Nifty rose 2.30 points to settle at 5959.20.
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On February 07, 2013, Indian markets opened on a negative note on the fourth day of the market, as investors remained cautious on the back of economic growth estimates (GDP) for the current fiscal year (FY13) announced by Central Statistical Office which came in at 5%. The market witnessed reversal trend post announcement of GDP estimates and traded in a tight range during the afternoon session. The Sensex settled at 19580.32, down by 59.40 points, while the Nifty shut shop at 5938.80, down by 20.40 points.
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On February 08, 2013, the Sensex fell for a seventh consecutive session to the lowest close this year as Mahindra & Mahindra as well as cement makers such as Ambuja and ACC  retreated after earnings missed estimates. The Sensex shut shop at 19484, down by 95 points and the Nifty fell 35 points to settle at 5903. Global indices:
All the global markets closed the week in red except Shanghai Composite which was marginally up by 0.55%. Top Losers: CAC40 fell by 4.57%, Dax100 fell by 3.10% and Hang Seng fell by 2.14%.
 Sectoral and stock screening
Majority of the sectors closed in red, barring BSE IT up by 1.73% and BSE TECk up by 0.68%. Losers - BSE CD slipped by 5.16%, BSE PSU dipped by 4.67% and BSE Metal fell by 4.35%. | | Looking at the 'A' group stocks, the top three gainers of the week were - Essar Oil surged by 20.19%, Suzlon Energy jumped by 17.45% and Power Finance Corporation dropped by 8.13%. The top three losers of the week were - Jaiprakash Associates slipped by 15.84%, Indiabulls Financial Services dipped by 14.32% and Opto Circuits fell by 13.94%.
FII/MF activity:
The foreign institutional investors (FIIs) were the net buyers of the Indian stocks worth a net of Rs7249.30 crore during the week till February 06, 2013, while the domestic investors were net sellers of Indian stocks to the tune of Rs1339 crore during the week till February 06, 2013. | | TOP MOVERS (GROUP A) |  | | | | | | | | | | Suzlon Energy | 24.90 | 17.45 | | | Power Finance Corp | 223.50 | 8.13 | | | | | JP Associates | 73.30 | -15.84 | | | Indiabulls Financial Services | 284.50 | -14.32 | | | Opto Circuits India | 67.90 | -13.94 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 15,094 | 1,014 | | | | | Net investment | 7,249 | -1,339 | | | | | | | | | *Data as on February 06, 2013 | | | | Market Outlook for the coming week!
The coming week will focus on next batch of Q3 December 2012 corporate earnings. ONGC, Jaiprakash Associates and Tata Power Company will unveil their Q3 results on February 11, 2013. Jindal Steel & Power unveils Q3 results on February 12, 2013. Tata Steel, Coal India and BPCL will unveil Q3 results on February 13, 2013. Tata Motors, DLF, State Bank of India, GAIL (India) and Dr. Reddy's Laboratories unveils Q3 results February 14, 2013.
The Central Statistics Office (CSO) will unveil data on industrial production for December 2012 on Tuesday, (February 12, 2013). The CSO will also announce data on inflation based on the wholesale price index (WPI) for January 2013 on Thursday, (February 14, 2013). | | | | | | | |  | | | | | | 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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posted by Anonymous @ 12:05 PM  |
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