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Weekly market: Bears relax in torrid heat; Dalal Street weakens for third Week
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Saturday, May 2, 2015 |
| | | Market Commentary | | | Bears relax in torrid heat; Dalal Street weakens for third Week | | The Indian markets wrapped up the week ended May 01, 2015 in red zone consecutive fall for third week. The Sensex ended 1.55% lower, while the Nifty fell 1.49% in the week. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Saturday, May 02, 2015 where key benchmark indices witnessed selling pressure in a truncated trading week as weakness in global stocks and selling by foreign portfolio investors (FPIs) of Indian stocks dampened sentiment.
The market slipped in three out of four sessions in the week ended Thursday, 30 April 2015. The Sensex managed to settle just above the 27,000 mark after falling below that mark in intraday trade on Friday, 30 April 2015.
The S&P BSE Sensex dropped 426.63 points or 1.55% to settle at 27,011.31 for the week. The 50-unit CNX Nifty declined 123.75 points or 1.49% to settle at 8,181.50.
The BSE Mid-Cap index dropped 0.18% and the BSE Small-Cap index lost 0.58%. The decline in both these indcies was lower than Sensex's fall in percentage terms.
Weekly market trend from April 27, 2015 - May 01, 2015:
April 27- Trading for the week started on a weak note. A broad based decline was witnessed on the domestic bourses on the first trading session of the week on Monday. The S&P BSE Sensex dropped 260.95 points or 0.95% to settle at 27,176.99 on that day, its lowest closing level since 7 January 2015.
April 28- Banking, auto and telecom stocks led gains as key benchmark indices snapped three-day losing streak on Tuesday. The S&P BSE Sensex rose 219.39 points or 0.81% to settle at 27,396.38 on that day, its highest closing level since 24 April 2015.
April 29- Data showing heavy selling of Indian stocks by foreign portfolio investors during the previous trading session weighed on sentiment as key benchmark indices edged lower in choppy trade on Wednesday. The S&P BSE Sensex declined 170.45 points or 0.62% to settle 27,225.93 on that day, its lowest closing level since 27 April 2015.
April 30- Key benchmark indices edged lower on Thursday, after the US Federal Reserve left open the chance of an interest-rate hike as early as June in a statement following a two-day monetary  policy meeting. The S&P BSE Sensex declined 214.62 points or 0.79% to settle at 27,011.31.
May 01- The Indian stock markets remain closed on Friday, on account of Maharashtra Day.
Global indices:
Majority of the global markets ended in the red zone. Topmost Gainers were Shanghai Composite up 1.09% and Hang Seng up 0.26%. Top Losers were Dax100 down 3.02%, CAC40 fell 2.98% and Nikkei down 2.44%
 Sectoral and stock screening:
All the 13 sectors ended on a mixed note. Top Gainers were S&P BSE Bankex up 1.73%, S&P BSE Auto rose 0.40%, S&P BSE Power up 0.16%. Top Losers were S&P BSE FMCG down 5.19%, S&P BSE Metal down 1.98% and S&P BSE Oil&Gas down 1.94%
| | Looking at the 'A' group stocks, the top three gainers of the week were: Welspun Corp up 45.78%, UPL up 13.26% and Siemens up 10.28%
Top Losers: KPIT Technologies dipped 27.79%, Wockhardt dipped 20.84%, United Breweries dipped 12.50% FII/MF activity:
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs3119.89 crore and the domestic investors bought Indian shares worth a net of Rs2787.3 crore as on April 27, 2015.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | | | | | | | KPIT Technologies | 105.00 | -27.79 | | | Wockhardt | 1,288.80 | -20.84 | | | United Breweries | 932.50 | -12.50 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 9,679 | 4,373 | | | | | Net investment | -3,120 | 2787 | | | | | | | | | *Data as on April 28, 2015 | | | | Market Outlook for the coming week!
In the coming week, next batch of Q4 March 2015 results, proceedings in parliament and the outcome of monthly manufacturing and services sector surveys will dictate near term trend on the bourses. Trend in investment by foreign and domestic institutional investors will be keenly watched.
Shares of public sector oil marketing companies (PSU OMCs) will on Monday, 4 May 2015, react to changes in petrol and diesel prices.
Markit Economics will unveil HSBC India Manufacturing PMI for April 2015 on Monday, 4 May 2015.
Markit Economics will unveil HSBC India Services PMI for April 2015 on Wednesday, 6 May 2015.
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posted by Anonymous @ 2:53 AM  |
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