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Weekly-market: Bulls cheer earnings season; Markets end week with 1% gain
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Friday, April 26, 2013 |
| | | Market Commentary | | | Bulls cheer earnings season; Markets end week with 1% gain | | The Indian markets rally in the week gone by owing to optimism coming from Q4 earnings season amid rate cut hopes. The Sensex rose 1.42% and the Nifty was up by 1.52% for the week ended April 26, 2013. | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for April 26, 2013. This was the seventeenth trading week of 2013 for the Indian markets which witnessed sharp rally for the entire week owing to inflow of funds by foreign institutional investors (FIIs) hopes of rate cut in CRR by Reserve Bank of India (RBI) in its monetary policy which is scheduled in the coming week. The key indices traded in a broad range throughout the week. Mid Quarter Review of Monetary Policy 2013-14 remained key focus of investors. The benchmark indices gained in holiday shortened week as the corporate results by top notch companies was the key factor which further boosted the sentiments. Markets rose in three out of four trading sessions. Sensex crossed 19,400 mark while Nifty moved above 5900 levels decisively hitting a one-month high on sustained buying interest.
The BSE Sensex rose 270.26 points to 19,286.72, while the NSE Nifty rose 88.35 points to 5,871.45.
Weekly market trend from April 22 - April 26, 2013: -
On April 22, 2013, the Indian stock indices ended near day's high led by buying in CD, Realty and CG stocks. Sensex rose 0.81% while the Nifty shut shop 0.89% higher. The Sensex rose for a second straight day on Monday to its highest close in a month led by gains in rate-sensitive stocks such as HDFC Bank, pricing rate cut in the upcoming policy on May 3. Indices trimmed the initial hour of gains in mid noon session on account of increasing weakness in IT frontline names like Infosys, TCS and Wipro. However markets regained the momentum and traded around day highs for rest of the day. The S&P BSE Sensex wrapped trade at 19169.83, up by 153.37 points while the NSE Nifty rose 51.30 points to settle at 5834.40. -
On Tuesday (April 23, 2013), the BSE Sensex gained 0.05% while NSE Nifty rose 0.04% as markets witnessed a dull session in trade today and shut shop on a flat note with no major action on the board. The Indian markets rang the opening bell in the positive zone but witnessed lacklustre session for the entire day. The key indices hit their intraday low in the morning session and then made a smart recover to hit their intraday high levels in the afternoon session to close today's trade on a positive note. The Sensex closed at 19,179.36, up by 9.53 points and the Nifty rose by 2.50 points to close at 5,836.90. -
The Indian markets remained shut on Wednesday (April 24, 2013) on account of Mahavir Jayanti. -
The Indian stock indices ended near day's high on Thursday (April 25, 2013), on F&O expiry day led by buying in auto and aviation stocks post Jet-Etihad deal. Sensex rose 1.19% while the Nifty shut shop 1.36% higher. Markets soared in opening trades with 50-share Nifty inching above key resistance level of 5,900 while the S&P BSE Sensex comfortably surpassed the key 19400 level. The S&P BSE Sensex wrapped trade at 19406.85, up by 227.49 points while the NSE Nifty rose 79.40 points to settle at 5916.30. -
On Friday (April 26, 2013), the Indian markets ended lower on the back of overseas selling pressure in rate-sensitive sectors and S&P BSE Sensex movers. The BSE Sensex slipped 0.62% and the Nifty closed 0.76% lower. Benchmark share indices witnessed weak trading session on the last day of the week after continuous rally seen for the last 4-days on the Dalal Street amid volatility in majority of the sectors. Key indices extended losses in afternoon trade post Q4 earnings of the ICICI Bank after recent steep gains on rate-cut hopes were seen as overdone ahead of the central bank's annual policy review next week.  The Sensex closed at 19286.72, down by 120.13 points while the Nifty fell by 44.85 points to close at 5871.45. Global indices:
All the global markets closed the week on a positive note baring Shanghai Composite which was down by 2.97%. CAC40 rose by 5.16%, followed by Dax100 which surged by 5%, Nikkei advanced by 4.26% and Nasdaq up by 2.62%.
 Sectoral and stock screening:
Among the 13 sectoral indices, top gainers- BSE Auto up by 4.11%, BSE CG rose 3.16%, BSE CD gained by 2.48%. Top losers: BSE IT fell by 4.83%, BSE Metal slipped 2.24% and BSE Realty was down by 0.19%. | | Looking at the 'A' group stocks, the top three gainers of the week were - Indiabulls Real Estate up by 26.37%, Jet Airways up by 22.39% and RCom up by 19.22%. The top three losers of the week were - Wipro fell by 13.14%, HCL Technologies fell by 10.72% and Tata Consultancy Services fell by 7.27%.
FII/MF activity
The foreign institutional investors (FIIs) have been net buyer of the Indian stocks worth a net of Rs1275 crore, while the domestic investors were net sellers of Indian stocks to the tune of Rs459.40 crore till April 23, 2013.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Indiabulls Real Estate | 70.45 | 26.37 | | | | | | | | | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | | | | | Net investment | 1,275 | -459 | | | | | | | | *Data as on April 23, 2013
| | | | Market outlook for the coming week!
The coming will keep investors on high alert with the upcoming events like the next batch of Q4 March 2013 results, monthly data on the manufacturing and services sectors, monthly auto sales data, Reserve Bank of India's Monetary Policy Statement 2013-14 and monetary policy meeting of the European Central Bank which will dictate trend on the bourses during truncated trading week.
The stock market will remain closed on Wednesday, May 01, 2013, on account of Maharashtra Day.
Shares of auto firms will be in focus as automobile companies will start unveiling sales volume data for April 2013 from Wednesday, May 01, 2013.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for April 2013 on Wednesday, May 01, 2013.
The Reserve Bank of India (RBI) will announce the Monetary Policy Statement 2013-14 on Friday, May 03, 2013.
Results for the coming week (April 29-May 04):
The focus of the market is on Q4 results by companies like IDFC, Bharti Airtel, Kotak Mahindra Bank, ACC, Ambuja Cements, Grasim, and Jaiprakash Associates.
Among the key global events, the European Central Bank's (ECB) Governing Council meets in Bratislava on Thursday, May 02, 2013, to review euro area interest rates. | | | | | | | |  | | | | | | To know more about our products and services, click here. |
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