Sunday, December 1, 2013

Weekly Market Commentary - Nov 25 - Nov 29, 2013

All eyes on Delhi election results on December 8th. These results may act as a precursor to what is in store for Indian investors. As DII turned buyers during the end of November, it seems that street is expecting a rally in December, which may only happen if BJP wins.

Sensex gained 2.8%; Nifty gained 3.0% while CNX Midcap was up by 3.1% this week.

Monday – Sensex up by 1.9%, Nifty up by 2.0%, Midcap up by 1.5%
Indian markets went up in tandem with global markets as Iran nuclear deal led to easing of crude prices. The deal is good for India in more than one way. It helps in removing the hindrances from importing crude from Iran, and lower prices benefits in reduced inflation expectations and deficits.

Tuesday - Sensex down by 0.9%, Nifty down by 0.9%, Midcap down by 0.5%
Markets gave back some of gains it made yesterday as crude prices rebounded and investors booked profits ahead of GDP data release.

Wednesday – Sensex, Nifty and Midcap flat
Markets ended flat as November derivative expiry arrives and investors stay cautious ahead of GDP and fiscal data release expected on Friday.

Thursday – Sensex up by 0.6%, Nifty up by 0.6%, Midcap up by 0.9%
Markets went up on the day of derivative expiry as traders cover their shorts and domestic institutional investors (DIIs) turned net buyers for first time in November, in addition to FIIs who continued stake building in Indian markets.

Friday – Sensex up by 1.3%, Nifty up by 1.4%, Midcap up by 1.1%
Markets showed optimism ahead of 2Q GDP data release expected during after-market hours. Consensus on the street is 4.6% of GDP growth. Anything below that will be indicator of adverse impact of recent repo rate hikes initiated by Governor Raghuram Rajan.

1 comment:

  1. The S&P BSE Sensex crossed its crucial psychological of 29,000 in intraday trade, while the Nifty50 also went above its 52-week high for the first time since September 2016.
    CapitalStars

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