|
|
|
Weekly Market: Torrid Week; Bears in command, Markets down by 3%
|
|
Friday, April 24, 2015 |
| | | Market Commentary | | | Torrid Week; Bears in command, Markets down by 3% | | The Indian markets wrapped up the week ended April 24, 2015 in red zone consecutive fall for second week. The Sensex ended 3.53% lower, while the Nifty fell 3.49% in the week. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, April 24, 2015 on selling by foreign portfolio investors. The issue of payment of minimum alternate tax (MAT) by FPIs continued to weigh on investor sentiment even as the finance ministry clarified that MAT would not be applicable to the entities based in countries having double taxation avoidance pacts with India. Forecast of below normal rainfall this year from India's weather office also dampened market mood. The S&P BSE Sensex, fell below the psychological 28,000 mark. The Sensex declined in four out of five trading sessions in the week ended April 24, 2015.
The S&P BSE Mid-Cap index fell 336.13 points or 3.12% to settle at 10,435.64 while S&P BSE Small-Cap index slumped 613.61 points or 5.27% to settle at 11,008.62.
The S&P BSE Sensex slumped 1,004.16 points or 3.53% to settle at 27,437.94. The 50-unit CNX Nifty declined 300.75 points or 3.49% to settle at 8,305.25.
Weekly market trend from April 20, 2015 - April 24, 2015:
April 20- Indian shares fell nearly 2% on Monday, marking their steepest fall in nearly one month as most blue-chips declined on worries that retrospective taxation could lead to foreign portfolio outflows. The S&P BSE Sensex and CNX Nifty ended 1.95-1.83% lower each. The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444.
April 21- Indian shares fell for a fifth straight session on Tuesday and closed at their lowest in nearly four weeks as Sun Pharmaceutical Industries plunged after Japan's Daiichi Sankyo's $3.6 billon share sale in the company. The S&P BSE Sensex and CNX Nifty ended 0.75-0.83% lower each. The Sensex ended at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 8378 down 70 points.
April 22- Indian shares were trading higher on Wednesday, rebounding from a near four-week low hit in the previous session and on track to snap a five-session losing streak as blue chips such as Sun Pharmaceutical Industries rose on value buying. The S&P BSE Sensex and CNX Nifty ended 0.77-0.62% higher each. The 30-share Sensex ended up 214 points at 27,890 and the 50-share Nifty closed up 52 points at 8,430.
April 23- Indian shares fell for a sixth session in seven on Thursday in volatile trade, dragged down by blue chips as investors chose to pause despite clarifications from the finance ministry over the government's taxation policies. The S&P BSE Sensex and CNX Nifty ended 0.56-0.37% lower each. The 30-share Sensex dropped 155 points to end at 27,735 and the 50-share Nifty shed 31 points to close at 8,398.
 April 24- Indian shares fell more than 1% on Friday to their lowest close in nearly three-and-a-half months, dragged down by a 6% slump in Infosys after the software services exporter's January-March earnings fell short of expectations. The S&P BSE Sensex and CNX Nifty ended 1.07-1.11% lower each. The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
Global indices:
Majority of the global markets ended in green. Topmost Gainers were Nasdaq up 2.52%, Shanghai Composite up 2.48%, Nikkei up 1.87%, Hang Seng up 1.47% and Dow Jone up 1.30.
 Sectoral and stock screening:
All the sectors ended in red. Topmost Loser were S&P BSE Realty down 7.69%, S&P BSE IT down 5.76%, S&P BSE TECk down 5.23%, S&P BSE HC down 4.87% and S&P BSE Auto down 4.45%.
| | Looking at the 'A' group stocks, the top three gainers of the week were: Tata Steel up 7.03%, Gujarat State Petronet up 3.67% and JK Lakshmi Cement up 2.09%
Top Losers: Natco Pharma dipped 17.39%, Tata Elxsi dipped 16.48%, Jet Airways dipped 16.25%
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs14082.34 crore and the domestic investors bought Indian shares worth a net of Rs2980.5 crore as on April 22, 2015.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | | | JK Lakshmi Cement | 356.20 | 2.09 | | | | | Natco Pharma | 1,936.90 | -17.39 | | | Tata Elxsi | 1,056.20 | -16.48 | | | Jet Airways | 376.65 | -16.25 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 32,272.16 | 5,351.00 | | | Gross sale | 18,189.82 | 2,370.50 | | | Net investment | 14,082.34 | 2,980.50 | | | | | | | | | *Data as on April 22, 2015 | | | | Market Outlook for the coming week!
In the coming week, the next batch of Q4 March 2015 corporate results and key global central bank meetings will dictate trend on the bourses next week. Indian stocks may remain volatile as traders roll over positions in the futures & options segment from the near month April 2015 series to May 2015 series.
The near month April 2015 F&O contracts expire on Thursday, April 30, 2015.
Next week is a truncated trading week as India's financial markets are closed on Friday, May 01, 2015, on account of Maharashtra Day.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as fuel price review is due at the end of the month. PSU OMCs undertake a review of fuel prices twice every month based on the average imported oil price in the preceding fortnight.
Shares of automobile companies will be in focus as companies start announcing monthly sales volume data for April 2015 from May 01, 2015.
Among major global market events, a two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 28-29 April 2015. Investors are keenly awaiting indication on the timing of the first increase in US interest rates in nearly a decade.
In Japan, Monetary Policy Meeting of Bank of Japan (BOJ) is scheduled on Thursday, 30 April 2015. Although further easing steps are unlikely to be taken by the BOJ at the meeting, investors will closely monitor whether there is a downward revision to the central bank's inflation outlook, a factor that could point to more action down the line. | | | | To know more about our products and services, click here. |  | REGISTRATION DETAILS 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. Sharekhan Ltd.: SEBI Regn. Nos. BSE - INB/INF011073351 ; BSE- CD ; 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. (SHAREKHAN) and is intended for use only by the person or entity to which it is addressed to. This document may contain confidential and/or privileged material and is not for any type of circulation and any review, retransmission, or any other use is strictly prohibited. This document is subject to changes without prior notice. This document does not constitute an offer to sell or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all customers who are due to receive the same, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report.
The information contained herein is obtained from publicly available data or other sources believed to be reliable and SHAREKHAN has not independently verified the accuracy and completeness of the said data and hence it should not be relied upon as such. While we would endeavour to update the information herein on a reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees ("SHAREKHAN and affiliates") are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Recipients of this report should also be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as he deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of SHAREKHAN may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licencing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. Either SHAREKHAN or its affiliates or its directors or employees/representatives/clients or their relatives may have position(s), make market, act as principal or engage in transactions of purchase or sell of securities, from time to time or may be materially interested in any of the securities or related securities referred to in this report and they may have used the information set forth herein before publication. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. The analyst certifies that all of the views expressed in this document accurately reflect his or her personal views about the subject company or companies and its or their securities and do not necessarily reflect those of SHAREKHAN. Further, no part of the analyst's compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this document." Compliance Officer: Ms. Namita Amod Godbole; Tel: 022-6115000; e-mail: compliance@sharekhan.com
Contact: myaccount@sharekhan.com | | | |
|
posted by Anonymous @ 7:50 PM  |
|
|
|
|
|
