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Weekly-market: Profit booking drags markets lower by over 1%
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Saturday, May 31, 2014 |
| | | Market Commentary | | | Profit booking drags markets lower by over 1% | | India's stock markets reversed 3-week rising trend on profit booking. The S&P BSE Sensex fell 1.92% and Nifty slipped 1.86% for the week ended May 30, 2014 | |
 Major Headlines for the week:
Indian indices: Welcome to the 'Weekly Market Wrap' for May 30, 2014 where key benchmark indices declined in the week ended Friday, 30 May 2014, on profit booking after logging gains in prior three weeks. The Sensex logged decline in three out of five trading sessions in the week just gone by.
The S&P BSE Mid-Cap index fell 201.10 points or 2.32% to 8,467.22, underperforming the Sensex. The S&P BSE Small-Cap index declined 112.31 points or 1.23% to 9,015.73, outperforming the Sensex.
In the week ended Friday, 30 May 2014, the 30-share S&P BSE Sensex declined 476.06 points or 1.92% to 24,217.34. The 50-unit CNX Nifty fell 137.15 points or 1.86% to 7,229.95.
Weekly market trend from May 26 -May 30:
May 26- India's NSE index fell on Monday, giving up earlier gains of nearly 2%, due to profit-taking in blue-chips including state-run companies such as IDFC while caution ahead of Narendra Modi's ministerial appointments also weighed. The BSE Sensex gained 0.10% and NSE Nifty fell 0.11% for the day. The Sensex closed at 24716.88, up by 23.53 points, while the Nifty fell 8.05 points to close at 7359.05
May 27- India's NSE index fell for a second consecutive session on Tuesday as investors continued to book profits in recent outperformers such as State Bank of India while they wait for actual policies from Prime Minister Narendra Modi and his new cabinet. The BSE Sensex slipped 0.68% and NSE Nifty fell 0.56% for the day. The Sensex closed at 24549.51, down by 167.37 points, while the Nifty fell 41.05 points to close at 7318.00
May 28- Indian shares edged higher on Wednesday as cement stocks such as UltraTech Cement rose after their recent relative underperformance while foreign investor sales and expiry of May derivatives on Thursday weighed at higher levels. The BSE Sensex gained 0.03% and NSE Nifty rose 0.16% for the day. The Sensex closed at 24556.09, up by 6.58 points, while the Nifty rose 11.65 points to close at 7329.65
May 29- India's NSE index posted its biggest daily fall in nearly four months, declining for a third session in four, as Infosys slumped after its president resigned, while profit-taking continued to hit shares from record highs earlier this month. The BSE Sensex slipped 1.31% and NSE Nifty fell 1.28% for the day. The Sensex closed at 24234.15, down by 321.94 points, while the Nifty fell 94.00 points to close at 7235.65
May 30- Indian shares fell on Friday to mark their first weekly fall in four, as blue-chips such as State Bank of India declined after foreign investors sold shares for a fourth consecutive session,  while caution was also seen ahead of GDP data and the central bank's policy review. The BSE Sensex slipped 0.07% and NSE Nifty fell 0.08% for the day. The Sensex closed at 24217.34, down by 16.81 points, while the Nifty fell 5.70 points to close at 7229.95
Global indices: Gainers: Dax100 up 1.79%, Nasdaq up 1.36%, Nikkei up 1.18% and Dow Jones up 0.67%
Losers: CAC 40 down 0.58%
 Sectoral and stock screening: Top Losers: S&P BSE PSU down 6.5%, S&P BSE CD slipped by 6.34% and S&P BSE Oil&Gas down 5.99%. Top Gainers: S&P BSE HC up 2.41%, S&P BSE FMCG up 1.03% and S&P BSE IT up 0.18%
| | Looking at the 'A' group stocks, the top three gainers of the week were - Pipavav Defence & Offshore up 26.63%, Ashok Leyland up 11.76%, Andhra Bank up 11.34%.
Top three losers of the week were - Gitanjali Gems fell by 19.50%, Jammu & Kashmir Bank fell by 18.37% and Wockhardt dipped by 17.69%.
FII/MF activity
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs732.6 crore while the domestic investors bought Indian shares worth a net of Rs840.3 crore as on May 29, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | Pipavav Defence | 67.60 | 26.63 | | | Ashok Leyland | 32.30 | 11.76 | | | | | | | Gitanjali Gems | 82.35 | -19.50 | | | Jammu & Kashmir Bank | 1501.35 | -18.37 | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 23,460.1 | 4,464.8 | | | Gross sale | 24,192.7 | 3,624.5 | | | Net investment | -732.6 | 840.3 | | | | | | | | *Data as on May 29, 2014
| | | | Market Outlook for the coming week!
In the coming week, the outcome of the Reserve Bank of India's (RBI) monetary policy review and the result of the monthly surveys on India's manufacturing and services sector for May 2014 will dictate the trend on the bourses.
With Q4 March 2014 earnings season over, 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 will dictate trend on the Indian bourses over near and medium term.
Indian stocks will on Monday, 2 June 2014, react to data on India's GDP growth for Q4 March 2014 which will be released by the government after trading hours on Friday, 30 May 2014. GDP growth slowed sharply at 4.7% in Q3 December 2013.
Shares of automobile companies will be in focus as auto companies start unveiling monthly sales volume data for May 2014 from Sunday, 1 June 2014.
Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for May 2014 on Monday, 2 June 2014.
The RBI undertakes a monetary policy review on Tuesday, 3 June 2014. The RBI left its main lending rate viz. the repo rate unchanged at 8% after a monetary policy review on 1 April 2014 as consumer-price inflation eased to a two-year low and as the rupee firmed up against the dollar.
Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for May 2014 on Wednesday, 4 June 2014.
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posted by Anonymous @ 3:46 AM  |
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