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Weekly Market: Dreadful Dalal Street registers over 2% Weekly loss
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Friday, December 11, 2015 |
| | | Market Commentary | | | Dreadful Dalal Street registers over 2% Weekly loss | | Indian shares posted their fifth straight weekly loss after earlier hitting an over three month low due to prospects of increase in interest rates in the United States. The Sensex and the Nifty fell 2.32%-2.20% each. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, December 11, 2015, where key benchmark indices slumped in the week just gone by in line with slide in global stocks as a recent sharp drop in global crude oil prices heightened fears about receding global growth.
Diminishing hopes that the constitutional amendment bill on goods and services tax (GST) will be passed during the ongoing winter session of parliament with main opposition Congress party repeatedly disrupting the parliament also weighed on investor sentiment.
The barometer index, the S&P BSE Sensex, fell below the psychological 25,000 mark in intraday trade on Friday, 11 December 2015, but managed to claw back and settle slightly above that mark. The Sensex and the Nifty dropped in four out of five trading sessions in the week ended 11 December 2015.
The Sensex dropped 593.68 points or 2.31% to settle at 25,044.43. The decline for the Sensex was higher in percentage terms compared with the fall in the 50 unit Nifty 50 index. The Nifty lost 171.45 points or 2.2% to settle at 7,610.45.
The BSE Mid-Cap index shed 3.28%. The BSE Small-Cap index skidded 2.97%. The decline in both these indices was higher than the Sensex's decline in percentage terms.
Weekly market trend from December 07 - December 11, 2015
December 07- Trading for the week began on a negative note as losses for index heavyweight ITC and stocks of oil exploration and production (E&P) pulled key benchmark indices lower on Monday. The Sensex lost 108 points or 0.42% to settle at 25,530.11.
December 08- Weakness in global stocks triggered losses for Indian stocks which fell for a fifth day in a row on Tuesday. The Sensex lost 219.78 points or 0.86% to settle at 25,310.33, its lowest closing level since 7 September 2015.
December 09- Key benchmark indices extended losses on Wednesday, on weak global stocks and on diminishing hopes that the constitutional amendment bill on goods and services tax (GST) will be passed during the ongoing winter session of parliament. The Sensex lost 274.28 points or 1.08% to settle at 25,036.05, its lowest closing level since 7 September 2015.
December 10- Index heavyweights Reliance Industries (RIL), HDFC, Infosys and stocks from metal sector led gains as key benchmark indices snapped a six-day losing streak on Thursday. The Sensex  gained 216.27 points or 0.86% to settle at 25,252.32.
December 11- Banking and telecom stocks led losses as key benchmark indices edged lower on the last trading session of the week on Friday. The Sensex lost 207.89 points or 0.82% to settle at 25,044.43.
Global indices:
All the global indices ended in red where Hang Seng fell 3.47%, Shanghai Composite fell 2.56%, FTSE100 was down 2.41%, Nasdaq fell 1.89% and CAC40 slipped 1.69%
 Sectoral and stock screening:
Among 13 Sectoral Indices S&P BSE IT was the only sector to register marginal gains of 0.54%. Top Losers: S&P BSE Metal and S&P BSE Realty were down 5.18%, S&P BSE PSU down 4.59%
| | Looking at the 'A' group stocks, the top three gainers of the week were: GSK Consumers up 8.59%, SCI up 8.16% and KPIT up 7.86%
Top three losers of the week were: Adani Power down 13.25%, Union Bank down 11.72% and JSW Energy down 11.57%
FII/MF activity:
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs936.71 crore as on December 09, 2015 and the domestic investors bought Indian shares worth a net of Rs148 crore as on December 07, 2015.
| | TOP MOVERS (GROUP A) |  | | | | | | | | GSK Consumers | 6,365.00 | 8.59 | | | | | | | | | | | | | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 9,923.47 | 538.60 | | | Gross sale | 10,860.18 | 390.60 | | | Net investment | -936.71 | 148.00 | | | | | | | | *Data as on December 09, 2015
**Data as on December 09, 2015 | | | |
Market Outlook for the coming week!
In the coming week, macroeconomic data, monetary policy decision by the US Federal Reserve, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in the coming week.
The market on Monday, 14 December 2015, will react to data on industrial production (IIP) for October 2015, which was announced by the government after market hours on Friday, 11 December 2015.
Among other macro economic data scheduled for release next week, the government will unveil the data on wholesale price index (WPI) for November 2015 on Monday, 14 December 2015. The data is scheduled to be announced at 11:00 IST on that day.
The data on inflation based on the consumer price index (CPI) for November 2015, will be announced by the government after market hours on Monday, 14 December 2015.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due during the middle of the month. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end.
On the political front, developments in winter session of the parliament will be closely watched. Central taxes like Central Excise Duty, Additional Excise Duties, Service Tax, Additional Customs Duty (CVD) and Special Additional Duty of Customs (SAD), etc. will be subsumed in GST. At the state level, taxes like VAT/Sales Tax, Central Sales Tax, Entertainment Tax, Octroi and Entry Tax, Purchase Tax and Luxury Tax, etc. would be subsumed in GST.
On global front, investors will closely watch the decision of US Federal Reserve's two-day monetary policy meeting scheduled on Tuesday, 15 December and Wednesday, 16 December 2015.
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posted by Anonymous @ 11:55 AM  |
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