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Weekly-market: Markets rise after a 3-week slide; Sensex, Nifty up 3%
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Saturday, November 30, 2013 |
| | | Market Commentary | | | Markets rise after a 3-week slide; Sensex, Nifty up 3% | | The Indian markets surged this week after falling for three straight weeks as investors went on bargain hunting. The Sensex rose 2.84% and the Nifty gained 3.01% for the week ended Nov 29, 2013. | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for November 29, 2013.
The Indian markets bounced back this week as investors picked up stocks that were beaten the most in recent days. Tremendous buying interest throughout the week helped the markets rise after three consecutive weeks of losses. The Indian equities were volatile throughout the week. Markets ended this week on a buoyant note led by strong global cues. The CNX Nifty regained 6,000 marks. Indian Indices logged gains in three out of five trading sessions in the week. The S&P BSE Mid-Cap and the S&P BSE Small-Cap indices underperformed the Sensex during the week.
Volatility in the market was due to expiry of November derivatives contracts on Thursday (November 28, 2013) and GDP and fiscal deficit data due on Friday (November 28, 2013) after market hours.
The S&P BSE Mid-Cap index advanced 2.78% and the S&P BSE Small-Cap index rose 1.76%. Both these indices underperformed the Sensex.
The S&P BSE Sensex gained 574.54 points or 2.84% to 20,791.93 while CNX Nifty rose 180.65 points or 3.01% to 6,176.10.
Weekly market trend from November 25, 2013 - November 29, 2013: -
Indian shares rose on Monday (November 25, 2013), after Brent crude dropped more than $2 a barrel following a breakthrough nuclear deal between world powers and Iran over the weekend. The BSE Sensex rose 1.92% and the Nifty was up by 2.00%. Key benchmark share indices rebounded today snapping a three-day losing streak, amid short covering at lower levels, as easing of global crude oil prices following a landmark deal between Iran and world powers would help India reduce its current account deficit and contain inflationary pressures. The Sensex closed at 20,605.08, up by 387.69 points, while the Nifty rose by 119.90 points to close at 6,115.35. -
Profit-taking in blue chips such as ICICI Bank hit Indian shares on Tuesday (November 26, 2013), reversing big gains in the previous session, while some traders questioned how quickly the Iranian nuclear accord would translate into higher supplies that pressure oil prices. The BSE Sensex slipped 0.87% and the Nifty was down by 0.92%. The S&P BSE Sensex shed 180.06 points to close at 20425.02 while Nifty slipped 56.25 points to end at 6059.10. -
On Wednesday (November 27, 2013), the Indian markets ended little changed after foreign investors sold cash shares and derivatives on Tuesday. The BSE Sensex slipped 0.02% and the Nifty was down by 0.03%. Benchmark indices moved in a narrow range for the major part of the day with bouts of volatility witnessed during the trading session. The S&P BSE Sensex shed 4.76 points to close at 20420.26 while Nifty slipped 2.00 points to end at 6057.10. -
Indian shares rose on Thursday (November 28, 2013), recovering from two sessions of falls as Power Grid Corp and other blue chips recovered from recent losses, while Dr. Reddy's gained after a rival received an import ban for a key drug from the U.S. regulator. The BSE Sensex rose 0.56% and the Nifty was up by 0.57%. Benchmark ended higher amid firm Asian and European cues, led by index heavyweights following the expiry of November derivative contracts. Markets opened higher on overnight gains on Wall Street with rate sensitive. The Sensex closed at 20,534.91, up by 114.65 points, while the Nifty rose by 34.75 points to close at 6,091.85. -
Key benchmark indices surged on last trading session of the week and month on Friday (November 29, 2013). Indian shares rose after domestic institutional investors turned  buyers on Thursday after a selling streak of at least 12 days, sparking a rally in blue-chips such as ICICI Bank. The Sensex closed at 20,791.93, up by 257.02 points, while the Nifty rose by 84.25 points to close at 6,176.10. Global indices:
All the global markets closed on a positive note except FTSE100 which fell by 0.36%. Top Gainers: Dax100 rose by 2.02%, FTSE100 rose 2.09%, Nikkei gained 1.82%, Nasdaq up by 1.71% and Shanghai Comp rose 1.10%.
 Sectoral and stock screening:
All the 13 sectoral indices closed in the green zone in the week gone. The topmost gainers were - S&P BSE CG surged by 8.28%, followed by S&P BSE Bankex which rose 4.33%, S&P BSE Auto up 4.05% and S&P BSE Power gained 3.98%.. | | Looking at the 'A' group stocks, the top three gainers of the week were - Torrent Power up by 23.29%, Jaiprakash Associates rose 15.45% and Crompton Greaves up by 14.88%. The top three losers of the week were - Wockhardt fell by 14.79%, Pipavav Defence fell by 9.17% and Jet Airways fell by 6.96%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs361.10 crore and the domestic investors have been the net buyers of the Indian shares of Rs267.60 crore as on November 27, 2013. | | TOP MOVERS (GROUP A) |  | | | | | | | | Torrent Power | 124.65 | 23.29 | | | | | Crompton Greaves | 124.65 | 14.88 | | | | | | | Pipavav Defence | 45.55 | -9.17 | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 11,215 | 1,666 | | | | | | | | | | | | Data as on November 27, 2013
| | | | Market Outlook for the coming week!
Auto and cement stocks will be in focus as the companies from these sectors start unveiling their monthly sales volume data for November 2013 from December 01, 2013.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for November 2013 on December 02, 2013.
Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for November 2013 on December 04, 2013.
The winter session of parliament begins on December 05, 2013. The session will end on December 20, 2013. It will have 12 sittings in which government is likely to introduce a bill to create a separate Telangana.
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posted by Anonymous @ 2:22 AM  |
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