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Weekly-market: Indices off record highs to close virtually unchanged for the Week
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Friday, April 25, 2014 |
| | | Market Commentary | | | Indices off record highs to close virtually unchanged for the Week | | Indices closed little changed in a holiday shortened week on back of growth concerns and FII selling. The Sensex gained 0.26% while Nifty rose 0.04% for the week ended April 25, 2014 | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for April 25, 2014 where key Indian benchmarks eked out small gains in a truncated trading week. Indices after hitting their record closing highs on account of sustained buying of Indian stocks by foreign funds gave up most of their gains on last trading session of the week on Friday, 25 April 2014, after the India Meteorological Department (IMD) on Thursday, 24 April 2014, said that the country will likely get below-normal levels of monsoon rain this year. The Sensex fell in two out of four trading sessions in a truncated trading week.
The S&P BSE Sensex rose 59.23 points to 22,688.70. The 50-unit CNX Nifty gained 3.35 points to 6,782.75.
The S&P BSE Mid-Cap index rose 0.46%. The S&P BSE Small-Cap index gained 0.97%. Both these indices outperformed the Sensex.
Weekly market trend from April 21, 2014 - April 25, 2014:
April 21- Indian shares hit record highs on Monday as lenders rallied ahead of their financial results starting later this week, while strong gains in debt markets reduced concerns about potential losses in the sector's bond portfolios. The BSE Sensex gained 0.60% and NSE Nifty rose 0.56%. Benchmark share indices ended at fresh all-time closing highs on Monday, amid aggressive buying in late trades, with capital goods and bank shares leading the gains. The Sensex closed at 22764.83, up by 135.99 points, while the Nifty rose 38.25 points to close at 6817.65
April 22- Indian shares ended flat on Tuesday after hitting record highs for a second consecutive session as the momentum waned ahead of the expiry of monthly derivative contracts and on expectations that current levels sufficiently price in fundamentals. The BSE Sensex and NSE Nifty fell 0.03%. The Sensex closed at 22758.37, down by 6.46 points, while the Nifty fell 2.30 points to close at 6815.35
April 23- Indian shares hit record highs for a third consecutive session on Wednesday as infrastructure-related companies such as L&T extended recent gains, offsetting profit-taking in other outperformers such as Tata Motors. The BSE Sensex gained 0.52% and NSE Nifty rose 0.37%. The Sensex ended at 22,876.54, higher by 118.17 points and the Nifty ended at 6840.80, up 25.45 points.
April 24- The stock markets remained closed on Thursday (April 24, 2014) on account of Parliamentary elections in Mumbai.
 April 25- Indian shares ended lower after hitting a record high for the fourth straight session on disappointment over earnings from market heavyweights including ICICI Bank Ltd. The BSE Sensex and NSE Nifty fell over 0.8% each. The Sensex closed at 22688.07, down by 188.47 points, while the Nifty fell 58.05 points to close at 6782.75
Global indices:
Gainers- Nasdaq up 1.29% and Dow Jones up 0.57%.
Losers- Shanghai Composite down 2.92%, Hang Seng down 2.36% and Nikkei down 0.60%.
Sectoral and stock screening:
 Among the 13 sectoral indices six sectors closed in the red zone while others ended in green.
Top Gainers - S&P BSE CG surged 4.27%, followed by S&P BSE Bankex which rose 1.95%, S&P BSE Metal up 1.61%.
Top Losers - S&P BSE FMCG down 2.46%, S&P BSE Power fell 1.48% and S&P BSE Realty slipped 1.38%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - Future Retail up by 54.08%, Strides Arcolab rose 14.52% and MRPL up by 14.00%.
Top three losers of the week were - DLF which fell by 12.82%, Jaiprakash Power Ventures slipped by 11.80% and Financial Tech dipped by 10.62%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs409.50 crore as on April 22, 2014 and the domestic investors sold Indian shares worth a net of Rs100.10 crore as on April 19, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | Future Retail | 130.35 | 54.08 | | | Strides Arcolab | 526.70 | 14.52 | | | | | | | | | JP Power Venture | 15.17 | -11.80 | | | Financial Tech | 323.50 | -10.62 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 4,844.3 | 2,308.2 | | | Gross sale | 4,434.8 | 2,208.1 | | | Net investment | 409.5 | 100.1 | | | | | | | | *Data as on April 22, 2014
**Data as on April 19, 2014 | | | | Market Outlook for the coming week!
In the coming week, the next batch of Q4 and year ended 31 March 2014 (FY 2014) results will dictate trend on the bourses during a truncated trading week. Macroeconomic data, trend in investment by foreign institutional investors, trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement hold key.
The stock markets will remain closed on Thursday, 1 May 2014, on account of May Day.
Auto stocks will be in focus as companies from this sector will start reporting sales volume data for April 2014 starting from Thursday, 1 May 2014.
PSU OMCs will be in focus. State run oil marketing companies (PSU OMCs) will review fuel prices on 1 May 2014 based on the average imported oil price in the previous fortnight. PSU OMCs review fuel prices on 1st and 16th of every month based on the average imported oil price in the previous fortnight.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for April 2014 on Friday, 2 May 2014.
On the global data front, Markit Economics will unveil HSBC China Manufacturing PMI, which gauges the business activity of China's factories, for April 2014 on Thursday, 1 May 2014.
The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on Tuesday, 29 April 2014 and Wednesday, 30 April 2014.
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posted by Anonymous @ 2:25 PM  |
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