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Weekly-market: Main Street books losses for 3rd week; Markets down 2%
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Thursday, August 8, 2013 |
| | | Market Commentary | | | Main Street books losses for 3rd week; Markets down 2% | | The Indian markets wrapped up the week ended August 08, 2013, in the red zone for third straight week owing to Rupee volatility. The Sensex ended 1.96% lower, while the Nifty fell 1.98% in the week. | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for August 08, 2013. The Indian stock indices continued with its downtrend in the 32nd trading week of 2013. Key benchmark indices declined as investors sold shares after the central bank took additional steps to tighten liquidity to shore up the rupee. The market fell in two out of four trading sessions. Key benchmark indices edged lower in a truncated trading week on concerns US monetary policy will soon become less accommodative after two Federal Reserve officials on Tuesday, 6 August 2013, said a reduction in Fed's asset purchases is likely later this year. Back home, weak rupee also played spoilsport after hitting record low of 61.80 on Tuesday, August 06, 2013.
The Indian indices remained volatile throughout the week; 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.
The S&P BSE Sensex fell 374.68 points to 18,789.34. Nifty fell 112.25 points to 5,565.65.
Major events of the week:
The HSBC/Markit Purchasing Managers' Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1 struck in April.
Weekly market trend from August 05 - August 09, 2013: -
Although markets posted slight gains on Monday (August 05, 2013); after snapping an eight-day losing streak, the session was subdued as BHEL dipped 19% post Q1 numbers. The BSE Sensex rose 0.10% and the broader Nifty was up by 0.13%. Markets closed on a marginally higher note led by buying among index heavyweights RIL and ITC. However, the upside was capped because engineering major BHEL slumped by over 19% post the announcement of disappointing Q1 numbers. The S&P BSE Sensex wrapped trade at 19182.26, up by 18.24 points while the NSE Nifty rose 7.50 points to settle at 5685.40 -
India's benchmarks ended in red on Tuesday (August 06, 2013); after taking pause yesterday as lenders fell on fears that the central bank would announce new cash-draining measures to defend the rupee after it dropped to a record low. The BSE Sensex fell 2.34% and the Nifty was down by 2.52%. Sensex and Nifty posted biggest single day percentage fall since June 20. The rupee's fall to a new record low further dampened investor' sentiments; especially when RBI's recent cash draining measures haven't boosted the rupee, as expected. The Sensex shed 449.22 points to close at 18733.04 while Nifty slipped 143.15 points to end at 5542.25 -
India's benchmarks ended in red for the second day on (August 07, 2013); after comments by a U.S. Fed representative stoked fears the central bank could start tapering its stimulus from the next month. The BSE Sensex fell 0.36% and the Nifty was down by 0.42%. Indian stock markets ended lower this Wednesday tracking negative closing in most of the Asian bourses as investors feared that the US Federal Reserve may soon scale-back stimulus after world's biggest economy showed signs of growth recovery. The Sensex shed 68.16 points to close at 18664.88 while Nifty slipped 23.15 points to end at 5519.10 -
Markets rebounded in a volatile session on Thursday (August 08, 2013), after snapping 2-day's losing streak. The Sensex rose 0.84% while the Nifty added 0.67%. Markets recouped early losses to end higher today after a strengthening rupee led to short-covering in index heavyweights. The market breadth remained in favour of advances on strong upmove in midcaps and smallcaps. The S&P BSE Sensex wrapped trade at 18789.34, up by 124.46 points while the NSE Nifty rose 46.55 points to settle at 5565.65. -
 Indian stock markets will remain closed tomorrow (August 09, 2013); on account of Ramzan Id.
Global indices:
All the global markets closed the week on a negative note except Shanghai Composite which rose by 0.76%. Top Losers: Nikkei slipped 5.95%, Hang Seng down 2.49% FTSE100 fell 2.06% and DAX100 fell 1.74%.
 Sectoral and stock screening:
Among the 13 sectoral indices, ten sectors closed in the red zone while remaining three sectors closed in the green zone. Top Gainers- BSE Metal up by 5.31%, BSE Realty rose by 2.97%, BSE PSU surged by 1.09%. Top Losers: BSE CG slipped 6.11%, BSE CD fell 4.79% and BSE FMCG declined 2.29%.
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Looking at the 'A' group stocks, the top three gainers of the week were - Ranbaxy Labs surged by 28.43%, Hind Copper jumped by 28.00% and Strides Arcolab gained by 17.81%. The top three losers of the week were - Financial Tech slipped by 67.61%, MCX dipped by 57.33% and BHEL fell by 22.99%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs150.9 crore on August 05, 2013.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Ranbaxy Labs | 359.40 | 28.43 | | | Hindustan Copper | 64.00 | 28.00 | | | Strides Arcolab | 796.85 | 17.81 | | | | | Financial Tech | 178.20 | -67.61 | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | *Data as on August 05, 2013
**NIL | | | | Market Outlook for the coming week!
In the coming week, the last batch of Q1 corporate results, macroeconomic data, trend in investment by foreign institutional investors (FIIs), movement of rupee against the dollar, and trend in global markets will dictate trend on the domestic bourses in a truncated trading week. The market sentiment remains edgy on fears of slowdown in inflow from foreign institutional investors as the US Federal Reserve may wind down a $85-billion-a-month bond-buying program.
The government will unveil industrial production data for June 2013 and consumer price inflation for July 2013 on Monday, August 12, 2013.
The government will on Wednesday, August 14, 2013, unveil data on inflation based on the wholesale price index (WPI) for July 2013.
The stock markets will remain closed on Thursday, August 15, 2013, on account of Independence Day.
Results: State Bank of India, DLF, ONGC, M&M, Tata Steel, Hindalco Industries and BPCL are set to unveil Q1 results.
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posted by Anonymous @ 2:34 PM  |
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