|
|
|
Weekly-market: Indices surge 2% as BSE Small-Cap, Mid-Cap indices jump
|
|
Friday, May 23, 2014 |
| | | Market Commentary | | | Indices surge 2% as BSE Small-Cap, Mid-Cap indices jump | | India's stock market closed the week on a record-breaking note as the Bharatiya Janata Party led by Narendra Modi swept the Lok Sabha election, handing the Congress party its worst ever result. The markets scaled a fresh closing peak on Friday, with the Sensex & Nifty gaining 2.3% for the week ended May 23, 2014 | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for May 23, 2014 where key benchmark indices edged higher on growing investor confidence that new Prime Minister Narendra Modi will take steps to boost economic growth. The market sentiment was also boosted by a statement from global credit rating agency Moody's Investor Service that BJP's resounding election win is credit positive for India as it boosts the prospect that a stable government will address the country's economic challenges.
The market gained in four out of five trading sessions in the week ended Friday, 23 May 2014. The BSE Mid-Cap and the BSE Small-Cap indices surged, with both these indices outperforming the Sensex.
The S&P BSE Sensex garnered 571.61 points or 2.36% to settle at 24,693.40, a record closing high. The 50-unit CNX Nifty gained 164.10 points or 2.27% to sette at 7,367.10, a record closing high.
Shares of a number of small-cap and mid-cap companies surged. The BSE Mid-Cap index surged 11.62% and the BSE Small-Cap index jumped 15.75% in the week ended Friday, 23 May 2014. Both these indices outperformed the Sensex.
Weekly market trend from May 19 -May 23: -
May 19- Indian shares closed at a record high on Monday as investors switched to stocks focussed on the domestic sector, including NTPC, on optimism the incoming government led by Narendra Modi would help spur economic reforms. The BSE Sensex gained 1.00% and NSE Nifty rose 0.84% for the day. The Sensex closed at 24363.05, up by 241.31 points, while the Nifty rose 60.55 points to close at 7263.55 -
May 20- Indian shares edged higher to a fourth consecutive session of gains on Tuesday as domestic-oriented stocks such as Sesa Sterlite rose on continued hopes that the incoming government would revive the economy, while IT stocks rebounded after recent sharp falls. The BSE Sensex gained 0.06% and NSE Nifty rose 0.16% for the day. The Sensex closed at 24376.88, up by 13.83 points, while the Nifty rose 11.95 points to close at 7275.50 -
May 21- Indian shares snap four day rally on back of profit booking, while IT stocks rebounded after recent sharp falls as rupee maintained downfall. The BSE Sensex fell 0.32% and NSE Nifty slipped 0.31% for the day. The Sensex closed at 24298.02, down by 78.86 points, while the Nifty fell 22.60 points to close at 7252.90 -
May 22- India's NSE index closed at a record high on Thursday, recovering from falls in the prior session as investors resumed buying stocks of companies expected to benefit from an economic recovery, and as Coal India Ltd surged on hopes it would be privatised. The BSE Sensex gained 0.31% and NSE Nifty rose 0.32% for the day. The Sensex closed at 24374.40, up by 76.38 points, while the Nifty rose 23.50 points to close at 7276.40 -
May 23- Indian shares rose more than 1% on Friday to mark a record closing high with State  Bank of India surging after reporting bad loans fell in January-March from the previous quarter. The Sensex closed at 24693.35, up by 318.95 points, while the Nifty rose 90.70 points to close at 7367. Global indices:
Gainers: Nikkei up 2.59%, Nasdaq up 1.56%, Hang Seng up 1.11% and Dax 100 up 0.95%
Losers: FTSE 100 down 0.51%
 Sectoral and stock screening: Majority of the sectors closed in green, barring S&P BSE FMCG & BSE HC which were down by 2.42% and BSE IT down 2.34%. Top Gainers are: S&P BSE Realty up 23.13%, S&P BSE Power up 17.29%, S&P BSE PSU up 13.65%. | | Looking at the 'A' group stocks, the top three gainers of the week were - Suzlon Energy up 60.27%, MMTC up 57.48%, Unitech up 57.03%.
Top three losers of the week were - Wockhardt fell by 9.64%, Dr. Reddy's Labs fell by 8.40% and Glenmark Pharma dipped by 7.97%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs1218.30 crore as on May 21, 2014 and the domestic investors sold Indian shares worth a net of Rs1081.10 crore as on May 21, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | Suzlon Energy | 24.12 | 60.27 | | | | | | | | | | | Dr Reddy's Lab | 2,307.40 | -8.40 | | | Glenmark Pharma | 522.25 | -7.97 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 21,191.8 | 3,282.7 | | | Gross sale | 19,973.5 | 4,363.8 | | | Net investment | 1,218.3 | -1,081.1 | | | | | | | | *Data as on May 21, 2014
| | | | Market Outlook for the coming week!
In the coming week, the markets may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month May 2014 series to June 2014 series.
The near month May 2014 derivatives contract expire on Thursday, 29 May 2014.
Investors will closely watch policy announcements, if any, from the National Democratic Alliance (NDA) government at the Centre once oath taking ceremony of Prime Minister-designate Narendra Modi concludes on Monday, 26 May 2014. 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.
Modi will be sworn in as India's next Prime Minister on Monday, 26 May 2014, evening at the Rashtrapati Bhawan.
Among other corporate news, auto stocks will be in focus as companies from this sector will start reporting sales volume data for May 2014 starting from Sunday, 1 June 2014.
On macro front, the government will announce data on gross domestic product (GDP) for Q4 March 2014 and the year ended 31 March 2014 (FY 2014) on Friday, 30 May 2014. India's GDP grew 4.7% in Q3.
On the global front, US stock markets remain closed on Monday, 26 May 2014, on account of Memorial Day.
| | | | To know more about our products and services, click here. |  | Regd Add: Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400042, Maharashtra. Tel: 022 - 61150000. Fax: 67481899; E-mail: publishing@sharekhan.com; Website: www.sharekhan.com; CIN: U99999MH1995PLC087498. Sharekhan Ltd.: SEBI Regn. Nos. BSE- INB/INF011073351 ; CD-INE011073351; NSE- INB/INF231073330 ; CD-INE231073330; MCX Stock Exchange- INB/INF261073333 ; CD-INE261073330; DP-NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX-00132 ; (NCDEX/TCM/CORP/0142) ; NCDEX SPOT-NCDEXSPOT/116/CO/11/20626; For any complaints email at igc@sharekhan.com ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do's & Don'ts by MCX & NCDEX and the T & C on www.sharekhan.com before investing. | | | | "This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report.
The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees ("SHAREKHAN and affiliates") are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN." | | | |
|
posted by Anonymous @ 10:13 AM  |
|
|
|
|
|
