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Weekly-market: India sees minute losses in the truncated week
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Wednesday, October 1, 2014 |
| Market Commentary | | India sees minute losses in the truncated week | Indian stock markets fell 0.2% in the holiday shortened 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 October 01, 2014 where key benchmarks declined last week as investors preferred staying on sidelines in a truncated week. High volatility materialized after the Reserve Bank of India (RBI) kept its main lending rate unchanged after a monetary policy review as it waited for more signs that inflation is retreating. On the macro front, data released after trading hours yesterday, 30 September 2014, showed that the combined growth in production of the eight core industries accelerated to 5.8% in August 2014. Another data released after trading hours yesterday, 30 September 2014, showed that the fiscal deficit during the first five month of the current fiscal year was 74.9% as a proportion of Budget Estimate (BE) for the full year, same as 74.6% in the same period last year. The 50-unit CNX Nifty fell below the psychological 8,000 level. Investors were also spooked by media reports suggesting that Finance Minister Arun Jaitley was moved to an isolation ward of a government-run hospital to help him recover from an infection that followed a stomach operation early this month to treat diabetes. The S&P BSE Sensex fell 58.33 points or 0.22% to 26,567.99. The 50-unit CNX Nifty fell 23.30 points or 0.29% to 7,945.55. The S&P BSE Mid-Cap index rose 90 points or 0.96% to 9511.40 and the S&P BSE Small-Cap index rose 130.83 points or 1.24% to 10,641.82. Both these indices outperformed the Sensex. Weekly market trend from September 29 - October 01: 1. Key benchmark indices registered small losses in a volatile trading session on Monday, 29 September 2014. The S&P BSE Sensex fell 29.21 points or 0.11% at 26,597.11. The CNX Nifty fell 9.95 points or 0.12% at 7,958.90. 2. After witnessing a roller coaster ride, key benchmark indices settled near the flat line on Tuesday, 30 September 2014. The S&P BSE Sensex rose 33.40 points or 0.13% at 26,630.51. The CNX Nifty rose 5.90 points or 0.07% at 7,964.80. 3. Key benchmark indices declined on Wednesday, 1 October 2014, on weak global cues. The S&P BSE Sensex fell 62.52 points or 0.23% at 26,567.99. The CNX Nifty fell 19.25 points or 0.24% at 7,945.55. Global indices: Top Gainers: Shanghai Composite up 0.69% and CAC40 up 0.49% Top Losers: Hang Seng down 3.15%, Nikkei down 0.91%, Nasdaq down 0.42% and Dow Jones down 0.41%. Sectoral and stock screening: Top Gainers: S&P BSE IT up 3.55%, S&P BSE HC up 3.20% and S&P BSE TECk up 2.80% Top Loser: S&P BSE Realty down 3.52%, S&P BSE Metal down 2.46% and S&P BSE Bankex down 1.80%. | Looking at the 'A' group stocks, the top three gainers of the week were - Berger Paints up by 11.89%, Bata India up by 9.45% and Bajaj Finance up by 8.30% Top three losers of the week were - Indiabulls Real Estate down by 7.63%, DLF down by 7.25% and Jindal Steel & Power down by 7.07%. FII/MF activity: The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs231.59 crore as on September 29, 2014 and the domestic investors bought Indian shares worth a net of Rs2303 crore as on September 26, 2014. | TOP MOVERS (GROUP A) |  | | | | | Berger Paints | 42.40 | 11.89 | | | Bajaj Finance | 211.15 | 8.30 | | | IB Real Estate | 67.15 | -7.63 | | | Jindal Steel & Power | 170.95 | -7.07 | | | | | | FII/MF ACTIVITIES |  | | | | Gross purchase | 2,665.36 | 6,379.50 | | Gross sale | 2,433.77 | 4,076.50 | | Net investment | 231.59 | 2,303.00 | | | | | | | | *Data as on September 29, 2014 **Data as on September 26, 2014 | | | Market Outlook for the coming week! In the coming week, trend in global market and key macroeconomic data in India will set the tone on the domestic bourses. Trend in investment by foreign portfolio investors (FPIs) and the movement of rupee against the dollar will be also closely tracked by the investors. The equity market will remain shut on Monday, 6 October 2014, on account of Bakri Id. HSBC Services PMI for August 2014 is due on Tuesday, 7 October 2014. Adjusted for seasonal influences, the headline HSBC India Services Business Activity Index posted 50.6 in August, down from 52.2 in July. The government will unveil industrial production data for August 2014 on Friday, 10 October 2014. There could be some stock-specific action based on July-September 2014 corporate earnings announcements. IT major Infosys kicks off Q2 results season on Friday, 10 October 2014. In the global market, the influential US monthly non-farms payroll data is due on Friday, 3 October 2014. The data pertains to September 2014. | | 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. 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