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Weekly Report-Bulls mark decent weekly gain on Dalal Street
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Friday, May 13, 2016 |
| | | Market Commentary | | | Bulls mark decent weekly gain on Dalal Street | | Markets registered decent gains after falling for two weeks as investors got a boost from key domestic moves. The Sensex and Nifty rose 1.03%-1.05% each for the week ended May 13, 2016. | |
 Major Headlines for the week:
Indian indices:
Welcome to the 'Weekly Market Wrap' for Friday, May 13, 2016 where the Indian equity markets registered modest gains in the week ended Friday, 13 May 2016 buoyed by the passage of key legislation viz. the Insolvency and Bankruptcy Code, 2016 by the government in the Parliament which is expected to help creditors recover bad debt faster. The barometer index, the S&P BSE Sensex gained in three out of five trading sessions.
The BSE Mid-Cap index rose 1.73%. The BSE Small-Cap index rose 1.96%. Both these indices outperformed the Sensex.
The Sensex rose 261.07 points or 1.03% to settle at 25,489.57. The Nifty 50 index rose 81.45 points or 1.05% to settle at 7,814.90.
Weekly market trend from May 09 - May 13, 2016:
May 09: Indian shares rose by 2%, posting their biggest single-day percentage gain in nearly four weeks, as a recent string of positive corporate results raised tentative hopes about an improving domestic economy. The S&P BSE Sensex and CNX Nifty ended 1.82%-1.71% higher each.
May 10: Indian shares bounced back from earlier losses to close higher on Tuesday, posting their second consecutive session of gains, as a rebound in crude oil prices and global stocks continued to favour riskier assets. The S&P BSE Sensex and CNX Nifty rose 0.33%-0.28% each.
May 11: Indian shares fell on Wednesday, snapping two straight sessions of gains, on concerns the government may amend tax treaties with countries including Singapore after it agreed to tax capital gains on foreign investments from Mauritius. The S&P BSE Sensex and CNX Nifty fell 0.68%-0.49% each.
May 12: Indian shares closed higher on Thursday, led by lenders such as ICICI Bank, after the country's upper house of parliament passed a new bankruptcy code to address corporate debts and improve the ease of doing business. The S&P BSE Sensex and CNX Nifty rose 0.75%-0.66% each.
May 13: Indian shares fell on Friday after stronger-than-expected consumer inflation data raised  the prospect the central bank would keep interest rates on hold, sending lenders such as State Bank of India sharply lower. The S&P BSE Sensex and CNX Nifty fell 1.17%-1.08% each.
Global indices:
Most of the global indices ended in this week were negative except Nikkei which rose 1.90% and Nasdaq rose 0.02%. Top losers were Shanghai Comp down 2.94%, Hang Seng down 1.94% and FTSE100 down 0.35%.
 Sectoral and stock screening:
The 13 sectors ended on a mixed note, top losers were: S&P BSE Metal down 2.21%, S&P BSE Oil&Gas down 0.72%, S&P BSE PSU down 0.41% while S&P BSE Bankex rose 2.70%, S&P BSE TECk rose 1.71% and S&P BSE CG gained 1.61%
| | Looking at the 'A' group stocks, the top three gainers of the week were: Monsanto up 35.91%, Manappuram up 27.70% and AB Nuvo up 14.64%.
Top three losers of the week were: SRF down 7.39%, Uco Bank down 6.33% and Eicher Motors down 6.04%. FII/MF activity:
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs355.13 crore as on May 11, 2016 and the domestic investors bought Indian shares worth Rs345.10 crore as on May 09, 2016.
| | TOP MOVERS (GROUP A) |  | | | | | | | | | | | | | | | | | | | | Eicher Motors | 18,995.75 | -6.04 | | | | | | | FII/MF ACTIVITIES | | | | | | | Gross purchase | 11,932.12 | 981.60 | | | Gross sale | 11,576.99 | 636.50 | | | Net investment | 355.13 | 345.10 | | | | | | | | *Data as on May 11, 2016
**Data as on May 09, 2016 | | | | Market Outlook for the coming week!
In the coming Week, next batch of Q4 results of India Inc., macroeconomic data, 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.
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, the counting of votes for assembly elections in five states viz. Assam, Kerala, Tamil Nadu, West Bengal and Puducherry will take place on May 19, 2016. The outcome of the assembly elections is crucial for the ruling National Democratic Alliance (NDA) led by Bharatiya Janata Party (BJP) as the party lacks majority in the Rajya Sabha. A lack of a majority in the Rajya Sabha has stalled Prime Minister Narendra Modi's economic reforms agenda and delayed passage of a key tax bill, the Goods and Services Tax (GST).
Among macro economic data, the inflation based on wholesale price index (WPI) for the month of April 2016 is scheduled to be released by the government on May 16, 2016.
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posted by Anonymous @ 8:34 AM  |
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