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Weekly Market: Sensex, Nifty close flat after gaining for 4 Weeks
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Saturday, April 2, 2016 |
| | | Market Commentary | | | Sensex, Nifty close flat after gaining for 4 Weeks | | Indian markets registered minute losses after gaining for four weeks on Yellen caution and volatility which prevailed ahead of RBI policy. The Sensex and Nifty fell 0.27%-0.04% each for the week ended April 01, 2016. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, April 01, 2016 where the key benchmark indices registered marginal to small losses in the week ended Friday, 1 April 2016.
After sliding in first half of the week on fears of an early interest-rate increase in the United States, Key indices staged a recovery after US Federal Reserve Chairwoman Janet Yellen reiterated a need to proceed cautiously in lifting interest rates. Key indices edged lower in three out of five trading sessions during the week.
The government's announcement of a reduction in interest rates on small savings schemes for Q1 June 2016 and dovish comments from US Federal Reserve Chairwoman Janet Yellen have reinforced market expectations of a rate cut from the RBI.
The Sensex and the Nifty ended fiscal 2016 on a weak note with both the benchmark indices dropping 9% each as foreign funds trimmed positions in Indian equities for most of the months during the fiscal except March.
Among the 30-share Sensex pack, 16 stocks declined and the rest of them rose in the week ended Friday, 1 April 2016.
The BSE Mid-Cap index advanced 117.85 points or 1.12% to settle at 10,642.32. The BSE Small-Cap index advanced 138.04 points or 1.31% to settle at 10,639.84. Both these indices outperformed the Sensex.
In the week ended Friday, 1 April 2016, the 30-share S&P BSE Sensex fell 67.92 points or 0.27% to settle at 25,269.64, its lowest closing level since 29 March 2016.
The losses for the Nifty 50 index were lower in percentage terms than those for the Sensex. The Nifty slipped 3.45 points or 0.04% to settle at 7,713.05, its lowest closing level since 29 March 2016.
Weekly market trend from March 28 - April 01, 2016
March 28 - Trading for the week started on a weak note. Fears of an early interest-rate increase in the United States pulled Indian stocks lower on Monday, 28 March 2016 with the barometer index, the S&P BSE Sensex, falling below the psychologically important 25,000 mark. The Sensex lost 371.16 points or 1.46% to settle at 24,966.40, its lowest closing level since 18 March 2016.
March 29 - Losses for stocks of pharma and IT companies and index heavyweight HDFC outweighed gains for stocks of telecom firms, private sector banks and index heavyweight Reliance Industries (RIL), with the two key benchmark indices registering small losses on Tuesday, 29 March 2016. The Sensex fell 65.94 points or 0.26% to settle at 24,900.46, its lowest closing level since 17 March 2016.
March 30 - Metal, banking and capital goods stocks led a rally on the domestic bourses on Wednesday, 30 March 2016 triggered by expectations that US interest rates will not be raised quickly, with the barometer index, the S&P BSE Sensex, surpassing the psychologically important 25,000 mark. The Sensex rose 438.12 points or 1.76% to settle at 25,338.58, its highest closing level since 6 January 2016.
March 31 - Amid a divergent trend among various index constituents, the two key benchmark indices ended near the flat line on Thursday, 31 March 2016 on the last trading day of the financial year. The Sensex rose 3.28 points or 0.01% to settle at 25,341.86, its highest closing level since 6 January 2016.
April 01 - Losses in IT, telecom stocks and index heavyweight Reliance Industries (RIL) outweighed  gains in stocks of public sector banks and index heavyweights ITC and HDFC, with the two key benchmark indices registering small losses on Friday, 1 April 2016. The Sensex fell 72.22 points or 0.28% to settle at 25,269.64, its lowest closing level since 29 March 2016.
Global indices:
Global markets ended on a mixed note where Nasdaq surged 2.95%, Shanghai Composite jumped 1.01%, Hang Seng rose 0.75% while Nikkei fell 4.93% and DAX100 slipped 0.58%.
 Sectoral and stock screening:
Among the 13 sectors, S&P BSE Realty surged 2.72%, S&P BSE Power gained 2.65% and S&P BSE FMCG rose 2.05% while S&P BSE HC fell 2.19%, S&P BSE Metal slipped 2.02% and S&P BSE TECk fell 0.71%
| | Looking at the 'A' group stocks, the top three gainers of the week were: MRPL up 17.60%, Jaiprakash Associates rose 13.43% and Alstom T&D India up 12.39%
Top three losers of the week were: Polaris Consulting down 10.99%, Sunrise Asian fell 10.85% and Natco Pharma was down 10.77%
FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs2890.23 crore and the domestic investors sold Indian shares worth a net of Rs2269.90 crore as on March 29, 2016.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | | | Alstom T&D India | 439.45 | 12.39 | | | | | Polaris Consulting | 189.55 | -10.99 | | | Sunrise Asian | 24.25 | -10.85 | | | Natco Pharma | 415.85 | -10.77 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 1,0181.2 | 2,267.60 | | | Gross sale | 7,290.97 | 4,537.50 | | | Net investment | 2,890.23 | -2,269.90 | | | | | | | | | Data as on March 29, 2016 | | | | Market Outlook for the coming week!
In the coming week, the major event next week is a monetary policy review from the Reserve Bank of India (RBI).
The RBI will announce the First Bi-monthly Monetary Policy Statement, 2016-17 at 11:00 IST on Tuesday, 5 April 2016.
Market expectations are that the RBI will cut its benchmark lending rate viz. the repo rate by atleast 25 basis points on 5 April 2016, with the government sticking to its fiscal deficit target for year 2016-17 in the Union Budget 2016-17 on 29 February 2016.
State-run power equipment major Bharat Heavy Electricals (Bhel) is scheduled to announce its tentative financial performance or flash results for the year ended 31 March 2016 (FY 2016) on Thursday, 7 April 2016.
Markit Economics will unveil the outcome of a monthly survey on India's manufacturing sector for March 2016 on Monday, 4 April 2016.
On Wednesday, 6 April 2016, Markit Economics will unveil the outcome of a monthly survey on the India's services sector for March.
The initial public offer (IPO) of Chennai-based microfinance lender Equitas Holdings opens for bidding on Tuesday, 5 April 2016. The IPO comprises of fresh issue shares aggregating up to Rs720 crore and offer for sale of up to 13.24 crore equity shares by existing shareholders. The price band for the IPO has been set at Rs 109-110 per share. Bidding for the IPO through the book-building route concludes on Thursday, 7 April 2016.
Meanwhile, on the political front six-phase polling for assembly election in West Bengal and two-phase polling for assembly election in Assam kicks off on 4 April 2016.
On the global front, Asian markets will on Monday, 4 April 2016, react to the influential monthly US nonfarm payroll data for March 2016 to be released on Friday, 1 April 2016. The monthly job data would influence US monetary policy. The US central bank's mandate centers on maximizing employment and keeping inflation at a 2% target level. | | | | To know more about our products and services, click here. |  | Registered Office: 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/INF/INE231073330 ; MSEI: INB/INF261073333 / 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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posted by Anonymous @ 3:50 AM  |
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