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Weekly market: Global chaos pushes Indian markets to red zone
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Saturday, April 30, 2016 |
| | | Market Commentary | | | Global chaos pushes Indian markets to red zone | | Markets snapped their two-week winning streak, amid weak global cues, after the BOJ's surprising stance on interest rate and lower GDP growth forecast led to a sell-off in global stocks. The Sensex and Nifty fell 0.22%-0.53% each for the week ended April 29, 2016. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, April 30, 2016.
India markets declined in the week ended on weak global cues. The barometer index, the S&P BSE Sensex, failed to hold onto the psychological 26,000 mark after regaining that mark the during the week. Key indices edged higher in three out of five trading sessions during the week. World stocks fell after the Bank of Japan left its main policies unchanged after the conclusion of a two-day monetary policy meeting, disappointing market expectations the central bank would take further extraordinary steps to stimulate Japan's economy.
S&P BSE Mid-Cap index rose 24.28 points or 0.22% to settle at 11,042.92, outperforming the Sensex while S&P BSE Small-Cap index shed 58.25 points or 0.53% to settle at 11,020.59.
The 30-share S&P BSE Sensex fell 231.52 points or 0.9% to settle at 25,606.62 while Nifty fell 49.50 points or 0.63% to settle at 7,849.80.
Weekly market trend from April 25 - April 29, 2016:
April 25: India's benchmark BSE index fell for a second consecutive session on Monday as worries about increased capex hit heavyweight Reliance Industries, while Cairn India was hit after posting a quarterly loss. The S&P BSE Sensex and CNX Nifty fell 0.62%-0.56% each.
April 26: India's stock markets rose on Tuesday, in their first gain in three sessions, as earnings lifted a few firms such as Maruti Suzuki while the sentiment was also supported by gains in European shares and a mild recovery in crude prices. The S&P BSE Sensex and CNX Nifty rose 1.28%-1.37% each.
April 27: Indian shares edged higher to post a second session of gains on Wednesday, led by Oil and Natural Gas Corp after crude oil rallied to 2016 highs, but gains were limited ahead of U.S. and Japanese central bank policy decisions. The S&P BSE Sensex and CNX Nifty rose 0.22% each today.
April 28: Indian shares fell on Thursday to post their biggest daily decline in 3-1/2 weeks after the Bank of Japan unexpectedly chose not to expand its monetary stimulus and due to caution ahead of the expiry of April derivative contracts. The S&P BSE Sensex and CNX Nifty fell 1.77%-1.66% each today.
April 29: India's stock markets closed unchanged after a volatile trading session on Friday as gains in energy stocks, following a recovery in crude prices, were offset by disappointing quarterly results from ICICI Bank and HCL Technologies. The S&P BSE Sensex and CNX Nifty rose 0.01%-0.03% each today.
Global indices:
All the global indices ended in this week were negative. Topmost Losers: Nikkei down 5.16%, Dax 100 down 3.22%, CAC 40 down 3.08%, Nasdaq down 2.67% and Hang Seng down 1.86%.  Sectoral and stock screening:
Among the 13 sectors, Majority of the sectors ended in red barring S&P BSE Realty up 4.16%, S&P BSE Bankex up 0.86% and S&P BSE Teck up 0.31%.. Topmost losers were: S&P BSE Power down 1.98%, S&P BSE CD down 1.70%, S&P BSE FMCG down 1.67%, S&P BSE PSU down 1.35% and S&P BSE Metal down 1.01%.
| | Looking at the 'A' group stocks, the top three gainers of the week were: Aban offshore up 18.04%, Indiabulls Real Estate up 17.79% and Piramal Enterprises up 10.50%.
Top three losers of the week were: HCL Technologies down 11.18%, NHPC down 10.22% and Sadbhav Engineering down 8.36%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs1250.79 crore as on April 27, 2016 and the domestic investors Indian shares worth a net buyers of Rs44.00 crore as on April 08, 2016.
| | TOP MOVERS (GROUP A) |  | | | | | | | | Aban Offshore | 220.85 | 18.04 | | | Indiabulls Real Estate | 67.55 | 17.79 | | | Piramal Enterprises | 1,190.05 | 10.50 | | | | | HCL Technologies | 750.45 | 11.18 | | | | | Sadbhav Engineering | 262.00 | 8.36 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 1,5044.38 | 2,762.00 | | | Gross sale | 1,3793.59 | 2,718.00 | | | Net investment | 1,250.79 | 44.00 | | | | | | | | | *As on April 27, 2016 | | | | Market Outlook for the coming week!
Macroeconomic data, next batch of Q4 results of India Inc., trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term. Stock markets in Hong Kong and China are closed on Monday, 2 May 2016, for a public holiday. Investors will closely track the next batch of Q4 results of India Inc. HDFC announces its Q4 March 2016 result on May 02, 2016. Adani Ports and Special Economic Zone will announce its Q4 March 2016 result on May 03, 2016. Eicher Motors and Hero MotoCorp will declare their Q4 March 2016 results on May 05, 2016.
Auto companies will be in focus as companies start unveiling monthly sales volume data for April 2016 from May 01, 2016.
In the primary market, the initial public offer (IPO) of dairy firm Parag Milk Foods opens for bidding on Wednesday, May 04, 2016. The issue closes on May 06, 2016. The price band of the IPO is Rs220 to Rs227 per share.
On political front, developments in budget session of Parliament will be closely watched. The second part of the budget session of Parliament commenced on April 25, 2016, after a month long recess and will conclude on May 13, 2016, during which government hopes to receive support of opposition parties in passage of key legislations including the Goods & Services Tax (GST) Bill.
Among domestic macro economic data, Markit Economics will announce the India Manufacturing PMI for April 2016 on May 02, 2016. The Nikkei India Services PMI will be declared on Wednesday, May 04, 2016. | | | | 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.
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