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Indian markets book sharp rally for the week; Sensex gain 1000 pts
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Saturday, November 1, 2014 |
| | | Market Commentary | | | Indian markets book sharp rally for the week; Sensex gain 1000 pts | | Markets edged higher to hit fresh record highs as investors cheered Modi government's move to ease FDI rules in construction sector and the US Fed Reserve sticking to its stance of low US interest rates. | |
 Major Headlines for the week:
Indian indices:
The market edged higher last week after encouraging data from the US allayed fears of a global growth slowdown while the government's move to ease foreign direct investment (FDI) norms in construction sector boosted sentiment. Indian companies registering a rise in order inflows also signaled the revival of the investment cycle.
The 50-unit CNX Nifty and the barometer index, the S&P BSE Sensex, both, hit record high levels. The 50-unit CNX Nifty rose above the psychological 8,000 mark and the Sensex pierced the psychological 27,000 mark.
For the week ended Friday, indices hit fresh record closing highs. Among broader markets, the S&P BSE Mid-Cap index rose 161.57 points, or 1.67% at 9834.60, underperforming the Sensex. The S&P BSE Small-Cap index gained 268.30 points, or 2.52% at 10,930.95, outperforming the Sensex.
The 30-share BSE Sensex closed with a gain of 1,015 points, or 3.78%, at 27,865 while the National Stock Exchange 50-share Nifty closed at 8,322, up 308 points, or 3.84%.
Weekly market trend from October 27 - October 31:
Oct 27: Indian shares fell on Monday, retreating from a more than one-month high earlier in the session to snap a five-session gaining streak, as investors booked profits and Hindustan Unilever forecast a softer demand environment in the near term. The BSE Sensex and the CNX Nifty ended 0.37%-0.29% lower.
Oct 28: Indian shares rose on Tuesday to their highest close in more than a month, with drug makers getting a boost after Ranbaxy Laboratories Ltd reported its first profit in six quarters. The BSE Sensex and the CNX Nifty ended 0.48%-0.45% higher.
Oct 29: Indian shares gained for a second consecutive session to their highest closing level in five weeks, tracking a rally in global markets on expectations the U.S. Federal Reserve would pause before raising interest rates. The BSE Sensex and the CNX Nifty ended 0.81%-0.78% higher.
Oct 30: Key Indices rose as much as 1% to a record high on Thursday as investors bet an improving economy and government reforms would allow the country to better withstand potential rate hikes  from the US Federal Reserve
Oct 31: Indian shares surged nearly 2% on Friday to a record high for the second consecutive day after Bank of Japan's surprise expansion of its massive stimulus programmed raised hopes for additional foreign inflows, boosting blue-chips such as L&T.
Global indices:
Global Market ended week in positive trend. The topmost gainers are: Nikkei up 7.34%, Shanghai Composite up 5.12%, Dax 100 up 3.77%, and Dow Jones up 3.48% and NASDAQ up 3.28%.
 Sectoral and stock screening:
All the sectors closed in green. The topmost gainers were: S&P BSE IT up 5.37%, S&P BSE CG up 5.18%, S&P BSE Metal up 4.80%, and S&P BSE Realty up 4.35% and S&P BSE Power up 4.01%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - Kailash Auto Finance up by 46.86%, NCC up by 41.57% and SRF up by 26.90%.
Top three losers of the week were - Raymond down by 9.35%, Just Dial down by 8.58% and Den Networks down by 7.74%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs2199.23 crore as on October 30, 2014 and the domestic investors bought Indian shares worth a net of Rs943.40 crore as on October 30, 2014.
| | TOP MOVERS (GROUP A) |  | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 18,703.10 | 3,886.50 | | | Gross sale | 16,503.87 | 2,943.10 | | | Net investment | 2,199.23 | 943.40 | | | | | | | | | Data as on October 30, 2014 | | | | Market Outlook for the coming week!
Trading will be truncated next week as the stock market remains shut on November 04, 2014, on account of Muharram and on November 06, 2014, on account of Gurunanak Jayanti.
The ongoing second-quarter earnings season and key macroeconomic data in India will set the tone on the domestic bourses in the week ahead.
Among macro economic data, HSBC Manufacturing Purchasing Managers' Index (PMI) for October 2014 is due on November 03, 2014.
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posted by Anonymous @ 5:06 AM  |
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