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Weekly-market: Bears rule the week; Indices down 3%
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Friday, September 27, 2013 |
| | | Market Commentary | | | Bears rule the week; Indices down 3% | | Indian benchmarks posted sharp decline on Mint Street as weak domestic and global environment weighed on the bourses. The Sensex shut shop 2.65% down while the Nifty slipped 2.98% for the week ended September 27, 2013. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for September 27, 2013. This was the Thirty ninth trading week of 2013 for the Indian markets which edged lower in a volatile week, as the market sentiments were hit adversely by hawkish comments from the Reserve Bank of India governor Dr. Raghuram Rajan on Thursday, September 26, 2013, that inflation continues to remain high. Global weakness also weighed on sentiment.
The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, dropped to three-week closing low. S&P BSE Sensex, slipped below the key psychological 20,000 level and NSE Nifty ended below 5850 level. The markets gained in two out of five trading sessions in the week.
Meanwhile, the partially convertible rupee closed 44 paise lower at 62.52 against the dollar on Friday, September 27, 2013, compared with its record closing low of 68.80 on August 28, 2013.
The S&P BSE Sensex slipped 536.44 points at 19,727.27 and the NSE Nifty fell 178.90 points at 5833.20.
Weekly market trend from September 23, 2013 - September 27, 2013: -
Indian shares fell sharply on Monday (September 23, 2013), heading towards its second day of falls, led by continued selling in bank shares after a surprise rate hike by the central bank on Friday. The BSE Sensex fell 1.79% and the Nifty was down by 2.04%. Benchmark share indices extended losses to end nearly 2% down on Monday dragged by financial stocks. The S&P BSE Sensex shed 362.75 points to close at 19900.96 while Nifty slipped 122.35 points to end at 5889.75 -
Markets ended flat amid rangebound trade on Tuesday (September 24, 2013), as gains in auto shares helped offset losses in IT majors. The Sensex rose 0.10% while the Nifty added 0.05%. Benchmarks ended with surprises, the BSE Sensex edged up on Tuesday, reversing a two-day losing streak, led by gains in rate-sensitive stocks. The Nifty found support around its 200-day moving average at 5,841 on value buying. The Sensex closed at 19,920.21, up by 19.25 points, while the Nifty rose by 2.70 points to close at 5,892.45. -
On Wednesday (September 25, 2013), the Indian shares ended lower on back of selling pressure witnessed in heavyweights such as Reliance Industries and HDFC Bank. The BSE Sensex and the Nifty were down by 0.32% each. Indian shares slumped on caution ahead of the expiry of derivatives contracts on Thursday. The broader NSE index traded below its 200-day moving average for the first time in nearly a week. The NSE bank index fell for fourth consecutive day of declines as a surprise rate hike by the RBI on Friday continues to weigh on lenders. The S&P BSE Sensex shed 63.97 points to close at 19856.24 while Nifty slipped 18.60 points to end at 5873.85 -
On Thursday (September 26, 2013), the Indian Indices ended with modest gains on September F&O expiry day. The Sensex rose 0.19% while the Nifty added 0.14%. Indian indices kick started on a positive note and swung between gain and losses for short span of time and thereafter maintained the upward journey. In the last session markets showed no signs of recovery and ended September series expiry on a flattish note. The Sensex closed at 19,893.85, up by 37.61 points and the Nifty rose by 8.40 points to close at 5,882.25. -
Indian shares ended lower on Friday (September 27, 2013), weighed down by selling pressure in financials as investors adopt a cautious stance ahead of the June-quarter current account deficit. The BSE Sensex fell 0.84% and the Nifty was down by 0.83%. Investors remained aloof ahead of June-quarter current account deficit numbers due on Monday (September 31, 2013), with economists expecting the gap to be higher than the March quarter's $18.1 billion, given the sharp rise in trade deficit and lower remittances during the period. Decline in the markets was also due to RBI chief Raghuram Rajan's comments on inflation being still high which also weigh the market  sentiment. The Sensex shed 166.58 points to close at 19727.27 while Nifty slipped 49.05 points to end at 5833.20. Global indices:
Majority of the global markets closed the week on a negative note, except Nikkei rose 0.12% and Nasdaq up 0.34%. Top Losers: Shanghai Composite plunged 1.45%, Hang Seng declined 1.26% and Dow Jones down 0.79%.
 Sectoral and stock screening:
Among the 13 sectoral indices, top gainers- BSE HC up 1.55%, BSE IT rose 0.31%, BSE CD gained 0.16%. Top losers: BSE Bankex fell by 7.25%, BSE Realty down 7.13%, BSE Oil & Gas dropped 4.44%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - Aurobindo Pharma up by 13.27%, Ashok Leyland rose 12.46% and Pipavav Defence and Offshore Engineering Company up by 12.38%. The top three losers of the week were - Gitanjali Gems fell by 19.48%, DLF fell by 17.86% and Central Bank fell by 15.03%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs440.4 crore as on September 25, 2013 and the domestic investors sold Indian shares worth a net of Rs315.4 crore as on September 25, 2013.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Aurobinda Pharma | 201.00 | 13.27 | | | Ashok Leyland | 15.07 | 12.46 | | | Pipavav Defence | 50.85 | 12.38 | | | | | Gitanjali Gems | 54.15 | -19.48 | | | | | Centrak Bank | 51.15 | -15.03 | | | | | | | FII/MF ACTIVITIES | | | | | | | *Data as on September 25, 2013
| | | | Market Outlook for the coming week!
In the coming week, investors will closely track the outcome of private surveys providing indications of the strength of factory and services activity for the month of September 2013.
The Reserve Bank of India (RBI) will unveil Q1 June 2013 current account deficit (CAD) numbers on Monday, September 30, 2013.
Auto and cement stocks will be in focus as the companies from these two sectors start unveiling their monthly sales volume data for September 2013 starting Tuesday, October 01, 2013.
Markit Economics will unveil HSBC India Manufacturing Purchasing Managers' Index (PMI on October 01, 2013.
The stock markets will remain closed on Wednesday, October 02, 2013, on account of Mahatma Gandhi Jayanti.
HSBC Services PMI for September 2013 on October 04, 2013.
The market will closely watch the direction of the rupee, crude oil prices and the investment activity of foreign institutional investors (FIIs).
In global market, China's local markets will be shut from October 1 to 7, 2013 for National Day holidays.
The European Central Bank (ECB) will announce its interest rate decision on Wednesday, 2 October 2013.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting on October 29-30, 2013.
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posted by Anonymous @ 4:01 PM  |
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BSE SENSEX slipped 200 points on Monday, Auto, Bank, FMCG, Healthcare and PSU socks down , At 12:30 pm Sensex traded at 19488.03 down 235.73 points, Global peers weak, asian Market traded negative. Nifty traded near 5749 down 1.44%.
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BSE SENSEX slipped 200 points on Monday, Auto, Bank, FMCG, Healthcare and PSU socks down , At 12:30 pm Sensex traded at 19488.03 down 235.73 points, Global peers weak, asian Market traded negative. Nifty traded near 5749 down 1.44%.
Share Market Updates