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Weekly Market: Record breaking week on fall in Crude Oil prices
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Saturday, November 29, 2014 |
| | | Market Commentary | | | Record breaking week on fall in Crude Oil prices | | 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 28, 2014 where key benchmark indices edged higher as a fall in global crude oil prices to four-year low provided fresh trigger for gains for Indian stocks. A surprise dose of liquidity measures launched by China's central bank and dovish comments from European Central Bank President Mario Draghi further boosted the Indian market.
Indian government's decision last month to decontrol diesel prices and a sharp decline in global crude oil prices over the past few months will help reduce the government's fuel subsidy burden and help contain its fiscal deficit.
The S&P BSE Sensex surged 359.36 points or 1.27% to 28,693.99, a record closing high for the index. The 50-unit CNX Nifty surged 110.90 points or 1.31% to 8,588.25, a record closing high for the index.
The S&P BSE Mid-Cap index rose 74.82 points or 0.73% to 10,270.61. The S&P BSE Small-Cap index fell 55.05 points or 0.49% to 11,270.79. Both these indices underperformed the Sensex.
Weekly market trend from November 24 - November 28:
November 24- Trading for the week began on a strong note. As global stocks rose after a surprise dose of liquidity measures launched by China's central bank and dovish comments from European Central Bank President Mario Draghi, key equity benchmark indices in India hit another record high on Monday. The S&P BSE Sensex garnered 164.91 points or 0.58% to settle at 28,499.54. The CNX Nifty rose 52.80 points or 0.62% at 8,530.15.
November 25- With the stock market regulator Securities and Exchange Board of India (Sebi) imposing restrictions on issue of Offshore Derivative Instruments (ODIs) by foreign portfolio investors (FPIs), key equity benchmark indices edged lower on Tuesday. The S&P BSE Sensex fell 161.49 points or 0.57% to settle at 28,338.05. The CNX Nifty fell 67.05 points or 0.79% to settle at 8,463.10.
November 26- After overnight sharp losses for Brent crude futures, key equity benchmark indices in India eked out small gains on Wednesday. Benchmark indices saw high intraday volatility that day. The S&P BSE Sensex garnered 48.14 points or 0.17% to settle at 28,386.19. The CNX Nifty rose 12.65 points or 0.15% to settle at 8,475.75.
November 27- A fall in global crude oil prices to four-year low provided fresh trigger for gains for Indian stocks on Thursday. Intraday volatility was high as traders rolled over positions in the futures & options (F&O) segment from November 2014 series to December 2014 series. The November 2014 derivatives contracts expired on that day. The S&P BSE Sensex garnered 52.72 points or 0.19% to settle at 28,438.91. The 50-unit CNX Nifty garnered 18.45 points or 0.22% to  settle at 8,494.20.
November 28- Overnight steep slide in global crude oil prices triggered fresh rally as the barometer index, the S&P BSE Sensex, and 50-unit CNX Nifty, both, struck record high in intraday as well as on closing basis on Friday. The S&P BSE Sensex gained 255.08 points or 0.9% to settle at 28,693.99. The CNX Nifty rose 94.05 points or 1.11% at 8,588.25.
Global indices:
Majority of the Global Indices closed green territory, barring FTSE 100 which was down by 0.42%. Topmost Gainers: Shanghai Composite up 7.88%, DAX 100 up 7.88%, Hang Seng up 2.35%, Nasdaq up 1.67% and CAC up 0.99%
 Sectoral and stock screening:
Top gainers: S&P BSE Realty up 3.56%, S&P BSE IT up 2.60% and S&P BSE Bankex up 2.56%
Top losers: S&P BSE FMCG down 1.27%, S&P BSE CD down 0.12% and S&P BSE Oil&Gas fell 0.36%. | | Looking at the 'A' group stocks, the top three gainers of the week were - Jet Airways up by 23.34%, Persistent Systems up by 16.02% and JSW Energy up by 14.36%
Top three losers of the week were - Future Retail down by 11.58%, Jaiprakash Associates down by 8.27% and MMTC down by 8.10%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs2210.73 crore and the domestic investors bought Indian shares worth a net of Rs1342.60 crore as on November 27, 2014.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | Persistent Systems | 1,498.80 | 16.02 | | | | | | | Future Retail | 83.20 | -11.58 | | | Jaiprakash Associates | 28.85 | -8.27 | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 22,483 | 4,466 | | | | | Net investment | 2,211 | 1,343 | | | | | | | | | Data as on November 27, 2014 | | | | Market Outlook for the coming week!
In the coming week, the focus will be on Reserve Bank of India's (RBI) policy meet and the developments in the parliament session. Reduction in key interest rates and positive announcements from the Parliament sessions will take the Indian markets higher.
On Monday, 1 December 2014, the market will react to gross domestic product (GDP) data numbers.
Shares of automobile companies will be in focus as auto companies start unveiling monthly sales volume data for November 2014 from Monday, 1 December 2014.
Shares of public sector oil marketing companies (PSU OMCs) will be watched on likely revision of fuel prices. PSU OMCs review fuel prices during the middle of the month and on the last day of the month based on the average imported oil price in the preceding fortnight.
RBI undertakes monetary policy review on 2 December 2014.
Investors' focus will remain on further policy announcements, if any, by the government. The month-long winter session of Parliament, which started on 24 November 2014, will conclude on 23 December 2014.
HSBC India Manufacturing Purchasing Managers' Index (PMI) for November 2014 is due on 1 December 2014.
HSBC India Services PMI for November 2014 is due on 3 December 2014.
In the global market, the European Central Bank (ECB) will meet on 4 December 2014 to discuss monetary policy. The ECB has pledged more stimulus if needed to revive inflation.
The influential US nonfarm payrolls report for November will be out in the US on Friday, 5 December 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. Fax: 67481899; E-mail: publishing@sharekhan.com; Website: www.sharekhan.com; CIN: U99999MH1995PLC087498. Sharekhan Ltd.: SEBI Regn. Nos. BSE- INB/INF011073351 ; CD-INE011073351; NSE- INB/INF231073330 ; CD-INE231073330; MCX Stock Exchange- INB/INF261073333 ; CD-INE261073330; DP-NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX-00132 ; (NCDEX/TCM/CORP/0142) ; NCDEX SPOT-NCDEXSPOT/116/CO/11/20626; For any complaints email at igc@sharekhan.com ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do's & Don'ts by MCX & NCDEX and the T & C on www.sharekhan.com before investing. | | | | "This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
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posted by Anonymous @ 1:45 AM  |
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