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Weekly-market: Markets end week with 2% rise on FII support
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Saturday, March 1, 2014 |
| | | Market Commentary | | | Markets end week with 2% rise on FII support | | Indian indices ended the truncated holiday week with by 2% gains led by firm buying as foreign institutional investors (FIIs) returned to Indian shores. The Sensex shut shop 2.02% higher while the Nifty rose 1.97% for the week ended February 28, 2014. | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for February 28, 2014, Key benchmark indices edged higher on resumption of buying of Indian stocks by foreign institutional investors (FIIs). Indian markets started the week on a muted note as both benchmark indices traded in a narrow range ahead of F&O February series expiry on Wednesday. Both the benchmark indices ended at their month-high levels with Sensex re-gaining 21,000 key psychological marks. Key benchmark indices gained in all the four trading sessions of a truncated week.
The BSE Mid-Cap index rose 78.37 points or 1.22% to 6,500.42 and the BSE Small-Cap index gained 51.71 points or 0.8% to 6,445.04. Both these indices underperformed the Sensex.
The S&P BSE Sensex rose 419.37 points or 2.02% to settle at 21,120.12, its highest closing level since January 24, 2014. The 50-unit CNX Nifty gained 121.50 points or 1.97% to settle at 6,276.95, its highest closing level since January 23, 2014.
Major events for the week: -
The fiscal deficit touched Rs5.33 trillion during April-January, or 101.6% of the full year target, compared with 89.4% at the same point a year ago, government data showed on Friday (February 28, 2014). -
India's economy grew below expectations at 4.7% in October-December on falling output in the manufacturing sector, making achievement of 4.9% GDP expansion in 2013-14 a tough task. Weekly market trend from February 24, 2014 - February 28, 2014: -
Feb 24: Indian shares rose for a second straight session on Monday to their highest closing in a month as blue chips including banks gained on continued optimism about foreign investor buying despite rising global uncertainties. The BSE Sensex rose 0.53% and NSE Nifty was up by 0.50%. -
Feb 25: Indian shares gained for a third straight session on Tuesday to their highest closing in a month as software stocks including Infosys rose on continued optimism about US business outlook while foreign investor buying also helped sentiment. The BSE Sensex rose 0.20% and NSE Nifty was up by 0.23%. -
Feb 26: Indian shares rose for a fourth straight session on Wednesday to close at their highest in more than a month as blue chips such as ITC Ltd rose on heavy buying by foreign investors despite expectations of volatility due to derivatives expiry. The BSE Sensex rose 0.65% and NSE Nifty was up by 0.62%. -
Feb 27: Markets were closed on account of Mahashivratri. -
Feb 28: India's benchmark BSE index rose for a fifth consecutive session on Friday to post its strongest weekly gain this year after blue chips such as Tata Motors rose to a  record high on heavy buying by foreign investors. The BSE Sensex rose 0.63% and NSE Nifty was up by 0.61%. Global indices:
Among the global markets for the week ended February 28, 2014. Top three losers were Shanghai Composite which fell 2.72%, FTSE 100 declined 0.42% and Nikkei slipped 0.17%. Top three Gainers were Dow Jones which gained 1.36%, Hang Seng rose 1.19% and Nasdaq up 1.05%.
 Sectoral and stock screening:
Among 13 sectoral indices, three closed the week in red zone. Top three gainers of the week were S&P BSE CG which was up 5.31%, S&P BSE HC up 4.54%, and S&P BSE Auto up 3.54%. The top three losers were S&P BSE Metal down 3.44%, S&P BSE Power dipped by 1.25 and S&P BSE Realty fell by 0.45%.
| | Looking at the 'A' group stocks, the top three gainers of the week were Jaiprakash Power Ventures which was up 15.23%, Indian Hotels up 14.59% and BHEL up 11.02%. The top three losers of the week were NTPC down 14.76%, Tata Steel fell 8.02% and Unitech dipped 7.95%.
FII activity:
The foreign institutional investors (FIIs) have been net buyers of the Indian stocks worth a net of Rs1339.10 crore till February 26, 2014, while the domestic investors were net sellers of Indian stocks to the tune of Rs78.30 crore during the week till February 24, 2014.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Jaiprakash Power Ventures | 16.57 | 15.23 | | | Indian Hotels | 69.10 | 14.59 | | | | | | | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | *Data as on February 26, 2014
**Data as on February 24, 2014
| | | | Market Outlook for the coming week!
Auto stocks will be in focus as companies from this sector will start reporting sales volume data for the month of February 2014 starting from Saturday, March 01, 2014.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories for February 2014 on March 03, 2014.
Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for February 2014 on Wednesday, March 05, 2014.
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posted by Anonymous @ 1:48 AM  |
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