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Weekly-market: Indices witness correction after 3 weeks
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Saturday, May 3, 2014 |
| | | Market Commentary | | | Indices witness correction after 3 weeks | | Share markets ended lower in a truncated week on back of growth concerns and profit booking. The Sensex lost 1.25% while Nifty fell 1.30% for the week ended May 02, 2014 | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for May 02, 2014 where key Indian benchmarks declined on back of profit booking, triggered by the India Meteorological Department (IMD) on April 24, 2014, announcing that the country will likely get below-normal levels of monsoon rain this year. Key benchmark indices declined in all four trading sessions in a truncated trading week.
The S&P BSE Sensex fell 284.18 points to 22,403.89. The 50-unit CNX Nifty fell 87.95 points to 6,694.80.
The S&P BSE Mid-Cap index fell 16.18 points or 0.22% to 7,357.46 and the S&P BSE Small-Cap index fell 64.53 points or 0.85% to 7,532.81. Both these indices outperformed the Sensex.
Major event of the Week:
HSBC manufacturing activity remained stagnant in the first month of the current financial year, according to HSBC purchasing managers' index (PMI). PMI stayed put at 51.3 points in April, same as March. A reading above 50 denotes expansion and the one below implies contraction. Both manufacturing output and new order growth eased further in the month, even as factories across the country continued to report improving operating conditions, said Markit Economics, a financial information firm which compiles the data.
Weekly market trend from April 28-May 02: -
April 28- Indian shares fell on Monday for a second consecutive session, retreating from record highs hit in the previous session, as blue chips such as Larsen & Toubro fell on profit-taking while choppy global shares also weighed. The BSE Sensex slipped 0.25% and NSE Nifty fell over 0.32%. Benchmark share indices ended lower, amid a rangebound trading session on Monday, tracking weakness among Asian peers. The Sensex closed at 22631.61, down by 56.46 points, while the Nifty fell 21.50 points to close at 6761.25 -
April 29- Indian shares fell for a third straight session on Tuesday, continuing to retreat from record highs hit last week to mark their lowest close in 1-1/2 weeks as lenders including HDFC Bank were hit after foreign investors sold index futures. The BSE Sensex slipped 0.73% and NSE Nifty fell 0.68%. The Sensex closed at 22466.19, down by 165.42 points, while the Nifty fell 46.00 points to close at 6715.25 -
April 30- India's NSE index fell on Wednesday to a 2-1/2 week low, retreating for a fourth session from a record high on Friday, as blue-chips geared to the domestic economy such as Larsen & Toubro Ltd (L&T) and ICICI Bank slumped in a bout of profit-taking. The BSE Sensex slipped 0.22% and NSE Nifty fell 0.28%. Benchmarks surrendered early gains to end in the red for the fourth straight session due to both domestic poll-related concerns and global geo-political worries. The Sensex closed at 22417.80, down by 48.39 points, while the Nifty fell 18.85 points to close at 6696.40 -
May 01- The Indian stock markets remained closed on Thursday, May 01, 2014, on account of May (Labour) Day. -
May 02- Indian shares closed lower for a fifth consecutive session on Friday, as investors  continued to book profits in recent outperformers such as Larsen and Toubro. The BSE Sensex slipped 0.06% and NSE Nifty fell 0.02%. The Sensex closed at 22403.89, down by 13.91 points, while the Nifty fell 1.60 points to close at 6694.80 Global indices:
Gainers- FTSE 100 up 2.04%, Dax 100 rose 1.64% and Nasdaq up 1.19%.
Losers- Shanghai Composite down 0.50%
 Sectoral and stock screening:
Among the 13 sectoral indices only two sectors closed in the green zone while others ended in red.
Top Gainers - S&P BSE HC surged 2.24%, followed by S&P BSE IT which rose 0.68%
Top Losers - S&P BSE Metal down 5.68%, S&P BSE CG fell 5.45% and S&P BSE Realty slipped 4.89%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - UPL up by 28.06%, Future Retail rose 23.02% and Wockhardt up by 17.11%.
Top three losers of the week were - Jet Airways which fell by 15.66%, Financial Technologies slipped by 14.01% and Jindal Steel & Power dipped by 13.38%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs1482.50 crore as on April 30, 2014 and the domestic investors sold Indian shares worth a net of Rs127.50 crore as on April 28, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | | | Future Retail | 139.50 | 23.02 | | | | | | | Jet Airways | 243.45 | -15.66 | | | Financial Technologies | 300.70 | -14.01 | | | Jindal Steel | 238.90 | -13.38 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 11,320 | 531 | | | | | Net investment | 1,483 | -128 | | | | | | | | *Data as on April 30, 2014
**Data as on April 28, 2014 | | | | Market Outlook for the coming week!
In the coming week, investors will focus on the next batch of Q4 and year ended 31 March 2014 (FY 2014) results next week. 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 will be watched.
On the macro front, Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for April 2014 on Tuesday, May 06, 2014.
A major near term trigger for the stock market is the outcome of the upcoming Lok Sabha elections. The 36 days long voting process began on 7 April 2014 and will conclude on May 12, 2014. The results will be declared on May 16, 2014 after which India will get a new government. The term of the current Lok Sabha expires on June 01 and the new House has to be constituted by May 31st.
On the global front, a monthly meeting of the Monetary Policy Committee of the Bank of England's (BoE) for monetary policy review is scheduled on Thursday, May 08, 2014.
The European Central Bank (ECB) will hold monetary policy meeting on Thursday, May 08, 2014, in Brussels, Belgium
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posted by Anonymous @ 2:59 AM  |
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