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Weekly-market: Indices mark fresh peak with record breaking moves
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Saturday, November 15, 2014 |
| | | Market Commentary | | | Indices mark fresh peak with record breaking moves | | Indian stock markets closed at new record highs in the week led by positive domestic cues on back further of fall in crude oil prices. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, November 14, 2014 where key benchmark indices logged modest gains in the week ended on sharp slide in global crude oil prices and data showing steady buying of Indian stocks by foreign portfolio investors. On the last trading day of the week on Friday, 14 November 2014, the barometer index, the S&P BSE Sensex settled at record high above the 28,000 mark. The 50-unit CNX Nifty also closed at record high on that day.
Global crude oil prices witnessed a sharp slide during the week. Indian government's decision last month to decontrol diesel prices and a sharp decline in global crude oil prices recently would reduce the government's fuel subsidy burden and help contain its fiscal deficit. The steep slide in global crude oil prices will also help India in containing its current account deficit and fuel price inflation. India imports 80% of its crude oil requirement.
In the week ended Friday, 14 November 2014, the 30-share S&P BSE Sensex rose 178.03 points or 0.63% to settle at 28,046.66, a record closing high for the index. The index had scaled a record high of 28,126.48 in intraday trade on Wednesday, 12 November 2014.
The 50-unit CNX Nifty points gained 52.90 points or 0.63% to settle at 8,389.90, a record closing high for the index. The index had scaled a record high of 8,415.05 in intraday trade on Wednesday, 12 November 2014.
The S&P BSE Mid-Cap index advanced 155.12 points or 1.55% to settle at 10,154.81. The S&P BSE Small-Cap index rose 100.22 points or 0.9% to settle at 11217.39. Both these indices outperformed the Sensex.
Weekly market trend from November 10 - November 14:
November 10- Amid a divergent trend among various index constituents, key benchmark indices eked out small gains on Monday. The S&P BSE Sensex rose 6.10 points or 0.02% to settle at 27,874.73, its highest closing level since 5 November 2014.
November 11- Banking and cement stocks rose as key benchmark indices eked out small gains on Tuesday. The S&P BSE Sensex rose 35.33 points or 0.13% to settle at 27,910.06, its highest closing level since 5 November 2014.
November 12- Amid a mixed trend in various constituents of the index, key benchmark indices registered modest gains on Wednesday. The S&P BSE Sensex gained 98.84 points or 0.35% to settle at 28,008.90, a record closing high for the index.
November 13- The government's announcement of a hike in excise duty on petrol and diesel pulled key benchmark indices lower on Thursday. The S&P BSE Sensex fell 68.26 points or 0.24% to settle at 27,940.64, its lowest closing level since 11 November 2014.
 November 14- A sharp slide in global crude oil prices and data showing continuation of buying of Indian stocks by foreign portfolio investors boosted sentiment on Friday as key benchmark indices closed at record highs. The S&P BSE Sensex advanced 106.02 points or 0.38% to settle at 28,046.66.
Global indices:
Global Market ended week majorly on a higher note. The topmost gainers are: Nikkei up 3.62%, Shanghai Composite up 2.51%, Hang Seng up 2.28% while Dax100 fell 0.42%
 Sectoral and stock screening:
Top gainers: S&P BSE FMCG up 2.95%, S&P BSE Auto up 1.75% and S&P BSE Realty up 1.64%
Top losers: S&P BSE Oil&Gas down 1.95%, S&P BSE PSU down 0.68% and S&P BSE Power fell 0.52% | | Looking at the 'A' group stocks, the top three gainers of the week were - Amtek Auto up by 24.89%, Bayer CropScience up by 17.92% and Balrampur Chini Mills up by 15.22%
Top three losers of the week were - Kailash Auto Finance down by 25.13%, Bajaj Electricals down by 20.38% and Engineers India down by 16.49%
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs2126.72 crore whereas the domestic investors sold the Indian shares worth a net of Rs152.2 crore as on November 13, 2014.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | Bayer CropScience | 2,707.25 | 17.92 | | | Balrampur Chini Mills | 64.35 | 15.22 | | | | | Kailash Auto Finance | 21.00 | -25.13 | | | Bajaj Electricals | 233.85 | -20.38 | | | Engineers India | 225.80 | -16.49 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 17,004 | 2,752 | | | | | Net investment | 2,127 | -152 | | | | | | | | | *Data as on November 13, 2014 | | | | Market Outlook for the coming week!
In the coming week, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate near term trend on the bourses.
All eyes will be on the G-20 meet on Saturday, 15 November 2014. The Group of 20 leaders and finance ministers convene for their annual summit in Brisbane, Australia on Saturday, 15 November 2014 with an agenda focused on promoting economic growth and cracking down on loopholes that let multinational companies shift profit to low-tax countries.
A trading program linking Hong Kong's stock market with Shanghai's will open on Monday, 17 November 2014. For the first time, the pilot program will allow eligible Mainland investors to trade stocks listed on the Stock Exchange of Hong Kong (SEHK) directly through the Shanghai Stock Exchange (SSE).
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posted by Anonymous @ 2:12 AM  |
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