Friday, April 12, 2013

Weekly Market Commentary - Apr 8 - 12, 2013

Another bad week for the market with Sensex falling 1%, Nifty down 0.4% while CNX Midcap flat at -0.04%

Monday - Sensex down 0.1%, Nifty down 0.2%, Midcap up 0.1%
Market took some breath from the beating it received previous week. Mostly a quite session.

Tuesday - Sensex down 1.1%, Nifty down 0.9%, Midcap down 0.8%
A bad day for the markets with selling continued on most counters. Wipro tanked 12% as it traded without its non-IT business for the first time. FIIs continued to sell in anticipation of weak earnings.

Wednesday - Sensex up 1.0%, Nifty up 1.2%, Midcap up 0.9%
Bears rested to catch some breath as markets attempted to regain the lost ground with small rally. The investors, though mostly cautious continued to look for bargains from previous sessions' sell-offs.

Thursday - Sensex up 0.7%, Nifty up 0.6%, Midcap down 0.1%
Indian stocks rose to a one-week high before data forecast to show inflation eased to the slowest in more than three years, and ahead of a quarterly earnings reporting season that begins on Friday. Infosys gained 4% in anticipation of good results.

Friday - Sensex down 1.6%, Nifty down 1.2%, Midcap down 0.1%
Markets tanked with BSE IT falling 10% on weak results and revenue guidance of 6-10% growth in FY14 from Infosys disappointed the markets.

1 comment:

  1. PNC Infratech today announced that financial closure has been achieved for a highway project in Karnataka.
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