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Weekly Market: Volatile Week: Profit booking weighs, leads to correction
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Saturday, January 31, 2015 |
| | | Market Commentary | | | Volatile Week: Profit booking weighs, leads to correction | | Indian stock markets closed the week on a weak note led by unsupportive domestic cues after profit booking dampened the market sentiments | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, January 30, 2015 where key benchmark indices declined for the week as market participants booked profits after key benchmark indices hit record high levels.
Trading for the week started on a strong note, but the trend reversed on the last trading session of the week when large caps declined sharply. Volatility was high as traders rolled over positions in the futures & options (F&O) segment from the January 2015 series to February 2015 series. The January 2015 derivatives contracts expired on Thursday, 29 January 2015.
The S&P BSE Sensex fell 95.89 points or 0.33% to 29182.95. The index hit a record high of Rs29844.16 in intraday trade on Friday, January 30, 2015.
The 50-unit CNX Nifty fell 26.70 points or 0.30% to 8808.90. The index hit a record high of Rs8996.60 in intraday trade on Friday, January 30, 2015.
The S&P BSE Mid-Cap index rose 42.92 points or 0.40% to 10738.59. The S&P BSE Small-Cap index fell 36.83 points or 0.32% to 11329.26.
Weekly market trend from January 26 - January 30:
Jan 26: The stock market was closed on Monday, for Republic Day holiday.
Jan 27: Index heavyweights led rally in key benchmark indices on the first trading session of the week on Tuesday, after India and the US on January 25, 2015, reached an understanding on resolving the logjam in implementing the historic 2006 India-US nuclear deal and decided to take defence cooperation to a new level after bilateral meeting between Indian Prime Minister Narendra Modi and US President Barack Obama. The S&P BSE Sensex rose 292.20 points or 1% to settle at 29,571.04. The CNX Nifty rose 74.90 points or 0.85% to settle at 8,910.50.
Jan 28: After seeing high intraday volatility, key benchmark indices ended almost unchanged for the day on Wednesday. The barometer index, the S&P BSE Sensex, registered small losses while the 50-unit CNX Nifty registered minuscule gains. The S&P BSE Sensex fell 11.86 points or 0.04% to settle at 29,559.18. The CNX Nifty rose 3.80 points or 0.04% to settle at 8,914.30.
Jan 29: A rebound in late trade took key benchmark indices into positive zone from negative zone on Thursday. The rebound in late trade materialized after key benchmark indices languished in negative zone almost throughout the trading session. The S&P BSE Sensex rose 122.59 points or 0.41% to settle at 29,681.77. The CNX Nifty rose 38.05 points or 0.43% to settle at 8,952.35.
Jan 30: Bank stocks led a sharp slide in key benchmark indices after disappointing results from  ICICI Bank and weak results from state-run Bank of Baroda (BoB). The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both hit their lowest level in more than a week. The S&P BSE Sensex fell 498.82 points or 1.68% to settle at 29,182.95. The CNX Nifty fell 143.45 points or 1.60% to settle at 8,808.90.
Global indices:
Majority of the Global Indices closed in red barring Nikkei marginally up by 0.93%. Topmost Losers: Shanghai Composite fell by 4.22%, Dow Jones fell by 2.91%, Nasdaq fell by 2.86, CAC 40 fell by 1.52% and FTSE 100 fell by 1.50%.
 Sectoral and stock screening:
Top gainers: S&P BSE Realty up 8.27%, S&P BSE CD up 3.75% and S&P BSE Oil & Gas up 2.44%.
Top losers: S&P BSE Metal down 3.04%, S&P BSE PSU down 1.80%, S&P BSE Bankex down 1.17%.
| | Looking at the 'A' group stocks, the top three gainers of the week were - HDIL rose 37.70%, HCC rose 18.77% and Jet Airways rose 18.37%
Top three losers of the week were - PMC Fincorp dropped 18.19%, GSFC dropped 17.60% and OBC dropped 17.34%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs4792.68 crore and the domestic investors sold Indian shares worth a net of Rs1105.40 crore as on January 29, 2015. | | TOP MOVERS (GROUP A) |  | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 24,064.07 | 2,541.50 | | | Gross sale | 19,271.39 | 3,646.90 | | | Net investment | 4,792.68 | -1,105.40 | | | | | | | | | Data as on January 29, 2015 | | | | Market Outlook for the coming week!
In the coming week, investors will keep a close watch on the central bank's monetary policy review next week. Trend in global markets, Q3 results of India Inc., investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar, and crude oil price movement will also dictate trend on the bourses.
HSBC India Manufacturing Purchasing Managers' Index (PMI) for January 2015 is due on February 02, 2015.
The sixth bi-monthly monetary review from the RBI is scheduled on Tuesday, February 03, 2015.
HSBC India Services PMI for January 2015 is due on February 04, 2015.
PSU OMCs, auto and airline stocks will be in focus as state run oil marketing companies review fuel prices on the last day and during the middle of the month based on the average imported oil price in the preceding fortnight.
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posted by Anonymous @ 4:21 AM  |
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