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Weekly-market: Indices register 2% loss for the Week ahead of RBI policy
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Friday, September 26, 2014 |
| | | Market Commentary | | | Indices register 2% loss for the Week ahead of RBI policy | | Indian stock markets slipped nearly 2% in the volatile trading week led by mixed cues in the domestic and global markets | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for September 26, 2014 where a fall on Tuesday, 23 September 2014 dragged the key benchmark indices to post biggest fall in over two months.
In the week ended Friday, 26 September 2014, the 30-share S&P BSE Sensex fell 464.06 points or 1.71% to 26,626.32. The 50-unit CNX Nifty slipped 152.60 points or 1.88% to 7,968.85.
Weekly market trend from September 22 - September 26:
September 22- Indian shares rose modestly on Monday to notch their fourth consecutive session of gains, led by blue-chips that have under-performed recently, such as Tata Motors and Oil and Natural Gas Corp, although the mood was broadly cautious. The BSE Sensex and the CNX Nifty ended 0.43% and 0.31% higher. The 30-share Sensex gained 116 points to close at 27,206 and the Nifty advanced 25 points to end at 8,146.
September 23- Indian shares posted their biggest single-day fall in two-and-a-half months as blue-chips such as ICICI Bank tracked weaker global stocks on disappointment over European manufacturing data and concerns about an unemployment measure in a survey in China. The BSE Sensex and the CNX Nifty ended 1.58% lower each. The 30-share Sensex ended down 431 points at 26,776 and 50-share NIfty ended down 129 points at 8,018.
September 24- Indian shares fell for a second straight day as resources firms such as Jindal Steel and Power Ltd, and public sector lenders that lent to them, slumped after the country's top court cancelled most coal blocks allocated since 1993. The BSE Sensex and the CNX Nifty ended 0.12%-0.19% lower. The 30-share Sensex lost 31 points to end at 26,745 and the 50-share Nifty shed 15 points to close at 8,002.
September 25- Indian shares fell for a third consecutive session on Thursday, as lenders and other coal-related firms remained under strong pressure a day after the country's top court scrapped all but four of 218 coal blocks allocated by the government since 1993. The BSE Sensex and the CNX Nifty ended 1.03%-1.13% lower. The 30-share Sensex ended down 276 points at 26,468 and the 50-share Nifty ended down 91 points at 7,912.
September 26- Indian shares rose on Friday to snap a three-day losing streak as rate-sensitive stocks such as IDFC Ltd jumped after Standard and Poor's raised India's sovereign credit outlook to "stable" from "negative". The BSE Sensex and the CNX Nifty ended 0.60%-0.72% higher. The  30-share Sensex ended up 158 points at 26,626 and the 50-share Nifty ended up 57 points at 7,969. Global indices:
Majority of the global markets closed the week on a negative note barring Shanghai Composite which was marginally up by 0.78%. Top Losers: DAX 100 slipped 2.95%,
FTSE 100 down 2.90%, Hang Seng fell 2.58% and Nasdaq dipped 2.47%.
 Sectoral and stock screening:
Majority of the Sectoral Indices closed the week in red barring S&P BSE FMCG gained 2.29%. Top Losers: S&P BSE Realty plunged 8.21%, S&P BSE CG slipped 4.60%, S&P BSE Metal dipped 4.11%, S&P BSE Power down 4.00% and S&P BSE Bankex fell 3.35%.
| | Among 'A' group stocks, top three gainers were- GlaxoSmithKline Pharmaceuticals rose 8.40%, IFCI rose 4.91% and HCL Tech rose 2.65%.
Top three losers- OFSS fell 14.96%, MMTC fell 12.26% and Oberoi Realty fell 11.08%
FII/MF activity
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs1574.31 crore as on September 24, 2014 and the domestic investors bought Indian shares worth a net of Rs319.5 crore as on September 23, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | | | | | | | | | | | | | Oberoi Realty | 220.80 | -11.08 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 10,160.90 | 1,904.50 | | | Gross sale | 11,735.21 | 1,585.00 | | | Net investment | -1,574.31 | 319.50 | | | | | | | | *Data as on September 24, 2014
**Data as on September 23, 2014
| | | | Market Outlook for the coming week!
In the coming week, the Reserve Bank of India's (RBI) monetary policy stance at its fourth bi-monthly monetary policy review on Tuesday, 30 September 2014, could provide clues on direction of interest rates.
The HSBC India Manufacturing PMI for September is due on Wednesday, 1 October 2014.
Indian financial markets remain closed on Thursday, 2 October 2014, Mahatma Gandhi Jayanthi and again on Friday, 3 October 2014, Dussehra.
Shares of automobile companies will be in focus as auto companies start unveiling sales volume data for September 2014 from Wednesday, 1 October 2014.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a monthly revision in diesel prices is due at the end of the month.
Developments from Prime Minister Narendra Modi's US tour will be closely watched. Modi will meet US President Barack Obama at the White House on 29-30 September 2014. The two leaders will discuss a range of issues of mutual interest in order to expand and deepen the US-India strategic partnership. They will discuss ways to accelerate economic growth, bolster security cooperation, and collaborate in activities that bring long-term benefits to both countries and the world.
On global front, the final China HSBC Manufacturing PMI for September is due on Tuesday, 30 September 2014.
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posted by Anonymous @ 12:13 PM  |
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