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Weekly Market: Weekly Saga: Indices register 3% gain in truncated week
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Monday, October 27, 2014 |
| | | Market Commentary | | | Weekly Saga: Indices register 3% gain in truncated week | | Indian stock markets jumped 3% in the holiday shortened week led by positive domestic cues on back of BJP win in assembly elections and cheerful festive mood. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for October 23, 2014 where key benchmark indices surged in a truncated week that ended on Thursday, 23 October 2014, amid expectations of further policy reforms from the government. The market gained in all the sessions of truncated trading week.
The 50-unit CNX Nifty regained 8,000 mark in intraday trade on Wednesday, 22 October 2014. There are expectations of further policy reforms from the government after it freed diesel from price controls and increased natural-gas tariffs over the weekend to curb subsidies and cut the fiscal deficit.
A sharp decline in crude oil prices recently will also help narrow the fiscal deficit and help cool inflation. India imports 80% of its crude oil requirement. Investors also cheered a strong showing of the Bharatiya Janata Party (BJP) in assembly election in Maharashtra and Haryana. The poll results of these two states were announced on Sunday, 19 October 2014.
The BSE Sensex rose 742.52 points or 2.84% to settle at 26,851.05 in the week just gone by. The 50-unit CNX Nifty gained 234.85 points or 3.02% to settle at 8015
Weekly market trend from October 20 - October 24:
October 20: Trading for the week started on a strong note on Monday. The government's announcement at the weekend of deregulation of diesel prices and increase in gas prices sent key benchmark indices surging on Monday, 20 October 2014. The S&P BSE Sensex jumped 321.32 points or 1.23% to settle at 26,429.85 on that day, its highest closing level since 9 October 2014.
October 21: Key benchmark indices continued their winning streak for the third straight day on Tuesday, 21 October 2014, with metal, power generation and banking stocks leading the gains as a rally in European stocks aided the upmove on the domestic bourses. The S&P BSE Sensex advanced 145.80 points or 0.55% to settle at 26,575.65 on that day.
October 22: Key benchmark indices extended gains for the fourth day in a row on Wednesday, 22 October 2014, on expectations of further policy reforms from the government after it freed diesel from price controls and increased natural-gas tariffs over the weekend to curb subsidies and cut the fiscal deficit. The S&P BSE Sensex added 211.58 points or 0.8% to settle at 26,787.23 on that day, its highest closing level since 22 September 2014.
October 23: The stock markets opened for an hour from 18:30 IST on October 23, 2014; because of Diwali, a festival of lights. Traders and investors traditionally make token purchases of stocks  during the so-called Muhurat trading session. On Muhurat Trading Session, the Sensex ended up 64 points at 26,851 and the 50-share Nifty ended up 19 points at 8,015.
October 24: The markets remained closed on Friday, October 24, 2014, on account of Diwali.
Global indices:
Majority of the Global Markets closed in green barring Shanghai Composite down by 1.66%. Topmost Gainers were: Nasdaq up by 5.29%, Nikkei up by 5.22% and Dow Jone up by 2.59%.
 Sectoral and stock screening:
All the sectors closed in green. The topmost gainers were: S&P BSE CG up 6.29%, S&P BSE Auto up 5.92%, S&P BSE Power 4.72%, S&P BSE Metal up 4.19% and S&P BSE Realty up 4.13%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - BEML up by 5.56%, Piramal Enterprises up by 4.89% and Bharat Electronics up by 4.51%.
Top three losers of the week were - Dabur India down by 7.92%, Just Dial down by 7.70% and DLF down by 7.55%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs1651.71 crore as on October 21, 2014 and the domestic investors sold Indian shares worth a net of Rs256.60 crore as on October 20, 2014. | | TOP MOVERS (GROUP A) |  | | | | | | | | | | Piramal Enterprises | 695.95 | 4.89 | | | Bharat Electronics | 2,057.30 | 4.51 | | | | | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 10,732.32 | 1,160.90 | | | Gross sale | 9,080.61 | 1,417.50 | | | Net investment | 1,651.71 | -256.60 | | | | | | | | *Data as on October 21, 2014
**Data as on October 20, 2014 | | | | Market Outlook for the coming week!
In the coming week, trend in global markets, Q2 results of India Inc., investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate term trend on the bourses in the forthcoming truncated trading week.
Upcoming events:
October F&O expiry: Traders rollover their positions for the month of October on Thursday October 30, 2014 followed by Bloomberg Oct. India Economic Survey.
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posted by Anonymous @ 5:54 AM  |
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