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Weekly-market: LS Elections kick-off; Sensex, Nifty up 1% for the Week
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Friday, April 11, 2014 |
| | | Market Commentary | | | LS Elections kick-off; Sensex, Nifty up 1% for the Week | | Indices maintained their North journey for the week; recording fresh all times highs during the week on back of FII inflows. The Sensex shut shop 1.21% higher while the Nifty rose 1.22% for the week ended April 11, 2014 | |
 Major Headlines for the week:
Results for the week:
IT major Infosys unveils Q4 results on Tuesday, 15 April 2014. TCS, IndusInd Bank, Mindtree and Reliance Industrial Infrastructure will unveils January-March 2014 results on Wednesday, 16 April 2014. Wipro, CRISIL, GlaxoSmithKline Pharmaceuticals and HCL Technologies will unveils January-March 2014 results on Thursday, 17 April 2014. Reliance Industries unveils Q4 results on Friday, 18 April 2014.
The rate of inflation based on the wholesale price index (WPI) is seen edging up to 5.3% in March 2014, from 4.7% in February 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government is scheduled to announce WPI inflation data for March 2014 at 12 noon on Tuesday, 15 April 2014. Indian indices: Welcome to the 'Weekly Market Wrap' for March 28, 2014 where Indian markets edged higher after the main opposition party - the Bharatiya Janata Party (BJP) - in its Lok Sabha polls manifesto released early this week promised more business-friendly policies if the party comes to power after elections. Strong buying by foreign institutional investors (FIIs) also propelled shares higher.
The barometer index, the S&P BSE Sensex, hit record high above 22,700 while Nifty surpassed 6800 mark.
The S&P BSE Mid-Cap index gained 140.84 points or 1.96% to settle at 7,338.46. The S&P BSE Small-Cap index rose 258.13 points or 3.55% to settle at 7,523.18. Both these indices outperformed the Sensex.
The Sensex garnered 269.46 points to settle at 22,628.96. The 50-unit CNX Nifty garnered 81.95 points to settle at 6,776.30.
Weekly market trend from April 07, 2014 - April 11, 2014:
April 07- India's BSE index marked its lowest close in over a week on Monday, its third straight day of retreat from record highs hit last week, as blue chips such as ICICI Bank fell on caution sparked by the start of a five-week long elections. The BSE Sensex fell 0.07% and NSE Nifty was up by 0.01%. Benchmarks ended flat amid a volatile trading session on Monday after elections for the 16th Lok Sabha kicked off today. Meanwhile, Sun Pharma and Ranbaxy Labs hogged the limelight after Sun Pharma announced the acquisition of Ranbaxy Labs. The Sensex closed at 22343.45, down by 16.05 points, while the Nifty rose 0.70 point to close at 6695.05
April 08- The stock markets remained closed on Tuesday, on account of 'Ram Navmi'.
April 09- Indian shares hit record highs on Wednesday, surpassing previous all-time highs hit just last week as Sun Pharmaceutical Industries surged on broker upgrades after it agreed to acquire Ranbaxy Laboratories in a $3.2 billion deal. The BSE Sensex gained 1.61% and NSE Nifty rose 1.51%. Benchmark indices ended at record closing highs, bolstered by strength on the banking counters. The Sensex closed at 22702.34, up by 358.89 points, while the Nifty rose 101.15 points to close at 6796.20
April 10- Indian shares retreated from record highs hit earlier in the session to end flat as profit-taking hit blue chips such as Infosys Ltd on caution ahead of the release of quarterly earnings and inflation data next week. The BSE Sensex gained 0.06% and NSE Nifty remained unchanged. The Sensex closed at 22715.33, up by 12.99 points, while the Nifty rose 0.20 point to close at 6796.40
 April 11- Indian shares fell on Friday, retreating from record highs hit in the previous session as blue chips such as Reliance Industries retreated ahead of quarterly earnings and inflation data due next week. The BSE Sensex slipped 0.38% and NSE Nifty fell 0.30%. The Sensex closed at 22628.96, down by 86.37 points, while the Nifty fell 20.10 point to close at 6776.30
Global indices:
Gainers- Shanghai Composite up 3.48% and Hang Seng up 2.19%
Losers- Nikkei down 7.33%, DAX100 down 2.49% and Nasdaq down 1.78%
 Sectoral and stock screening:
Among the 13 sectoral indices three sectors closed in the red zone while others ended in green. Top Gainers - S&P BSE Power surged 3.35%, followed by S&P BSE Metal which rose 2.40%, S&P BSE CG up 2.36%. Top Losers - S&P BSE IT down 0.49%, S&P BSE TECk fell 0.38% and S&P BSE FMCG slipped 0.10%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - Suzlon Energy up by 31.07%, Ranbaxy Labs rose 26.22% and Unitech up by 24.91%. Top three losers of the week were - L&T Finance Holdings which fell by 10.76%, Dish TV slipped by 7.04% and Bata India dipped by 5.28%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs1799.40 crore as on April 09, 2014 whereas the domestic investors sold Indian shares worth a net of Rs568.60 crore as on April 07, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | Suzlon Energy | 14.85 | 31.07 | | | | | | | | | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 8,941.2 | 466.9 | | | Gross sale | 7,141.8 | 1,035.5 | | | Net investment | 1,799.4 | -568.6 | | | | | | | | *Data as on April 09, 2014
**Data as on April 07, 2014 | | | | Market Outlook for the coming week!
In the coming week, the market may be volatile in a truncated week ahead. Macroeconomic data, trend in investment by foreign institutional investors (FIIs), 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 next major trigger for the stock market is Q4 March 2014 and year ended 31 March 2014 (FY 2014) corporate earnings.
The equity market remains shut on Monday, April 14, 2014, on account of Dr. Baba Saheb Ambedkar Jayanti.
Investors and analysts will closely watch the management commentary that would accompany the results to see if there is any revision in their future earnings forecast of the company for the year ending 31 March 2015 (FY 2015) and/or for the year ending 31 March 2016 (FY 2016). Indian companies will start reporting their Q4 and full year results from 15 April 2014. The result season will conclude in end-May 2014.
The market also remains shut on Friday, April 18, 2014, on account of Good Friday.
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posted by Anonymous @ 2:22 PM  |
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