Friday, May 10, 2013

Weekly Market Commentary - May 6 - May 10, 2013

Markets continued its bullish trend as easy liquidity flows in; Bullish mood across the world financial markets after major central banks jumped on the global stimulus bandwagon to battle economic headwinds as well as record foreign fund flows had largely triggered the current round of rally. Sensex recorded a gain of 2.6%, Nifty gained 2.5% while CNX Midcap rose by 1.4%

Monday - Sensex up 0.5%, Nifty up 0.5%, Midcap up 0.9%
Markets stayed rangebound with positive tone on the back of FIIs buying shares in Indian companies.

Tuesday - Sensex up 1.1%, Nifty up 1.2%, Midcap up 0.9%
Sensex and Nifty both made their 13 weeks high as global liquidity keep flowing into Indian stocks. The government is looking to launch a Rs 20,000-crore share sale by divesting 10 per cent equity in Coal India, which will single-handedly meet half of this year's disinvestment target and is expected to be completed by September 2013.

Wednesday - Sensex up 0.5%, Nifty up 0.4%, Midcap flat
Sensex crossed the psychological level of 20,000 for the first time since Jan 31. Global liquidity keeps the shares buoyed.

Thursday - Sensex down 0.3%, Nifty down 0.3%, Midcap down 0.7%
Investors booked profits in some blue-chips that registered gains in last few sessions ahead of March IIP tomorrow and a weakening trend elsewhere in Asia and Europe.

Friday - Sensex up 0.7%, Nifty up 0.7%, Midcap up 0.3%
Sensex closed above 20,000 as India’s industrial production climbed 2.5% from a year ago after a revised 0.5% gain in February. The median of 26 estimates in a Bloomberg survey was for a 2.4% gain. The central bank forecasts economic growth will accelerate to 5.7% in the fiscal year through March 2014, compared with the baseline projection of 5.5% for the previous 12 months.

Friday, May 3, 2013

Weekly Market Commentary - Apr 29 - May 3, 2013

Markets continued its upward momentum this week and recorded gain of 1.5% in Sensex, Nifty gaining 1.2% while CNX Midcap rising 2.4%

Monday - Sensex up 0.5%, Nifty up 0.6%, Midcap up 1.2%
Markets went up as Hero Motocorp, HUL and Maruti posted good profits and beat the market estimates.

Tuesday - Sensex up 0.6%, Nifty up 0.4%, Midcap up 0.1%
Sensex made a 6 week high with Unilever announcing $5.4 billion program to raise its stake to 75% in HUL for 600/share. Markets went into negative territory when news of IMF downgrading India's GDP growth estimate from 7% to 6.1%. But markets recovered later when passing of Finance bill assured foreign investors that Tax residency certificate issued by foregin govt will be accepted as certificate of residence.

Wednesday - Markets closed on the occasion of Maharashtra Day

Thursday - Sensex up 1.2%, Nifty up 1.2%, Midcap up 1.2%
Expectations of an aggressive interest rate cut by RBI at its policy review meeting tomorrow and the Centre's recent decision to cut tax rates for foreign investors on interest income from investments in Government bonds and corporate debt to encourage capital inflows boosted market sentiment.

Friday - Sensex down 0.8%, Nifty down 0.9%, Midcap down 0.2%
Markets went down as profit booking occured in interest sensitive stocks. RBI cut its repo rate – key lending rate – by 25 basis points to 7.25 percent and kept the CRR intact at 4 percent in line with expectations. D Subbarao speaking after the announcement said the decision to ease the monetary policy rates was taken considering the steep deceleration in the economic growth.

Friday, April 26, 2013

Weekly Market Commentary - Apr 22 - 26, 2013

Markets continued its upward momentum this week and recorded gain of 1.4% in Sensex, Nifty gaining 1.5% while CNX Midcap rising 1.2%

Monday - Sensex up 0.8%, Nifty up 0.9%, Midcap up 1.8%
The cool-off in inflation has raised the expectations of rate cut and turned the investor tone bullish. Banking stocks gain. FIIs bought 915.8 crores as reported by stock exchanges.

Tuesday - Sensex and Nifty flat at 0.0%, Midcap slightly down by 0.4%
Markets had a choppy session with RIL gaining on the news of govt. clearing oil blocks, while SBI and HDFC losing on profit booking ahead of RBI review meeting.

Wednesday - Markets closed on the occasion of Mahavir Jayanti

Thursday - Sensex up 1.2%, Nifty up 1.4%, Midcap up 0.6%
Markets gained as last thursday of the month saw derivative expiries. FIIIs bought 226 crores while domestic investors sold 528 crores of equity.

Friday - Sensex down 0.6%, Nifty down 0.8%, Midcap down 0.8%
Markets continued to be range bound with domestic investors still staying away, as FIIs continued to build their stakes. The Sensex has dropped 1.3 percent this year, and is valued at 12.9 times projected 12-month profits, compared with the MSCI Emerging Markets Index’s 10.3 times.

Saturday, April 20, 2013

Weekly Market Commentary - Apr 15 - 19, 2013

Markets rebounded smartly this week on the back of low inflation data raising hope of RBI rate cut Sensex rising 4.2%, Nifty gaining 4.6% while CNX Midcap rising 2.76%

Monday - Sensex up 0.63%, Nifty up 0.72%, Midcap up 0.03%
March inflation data, WPI of 5.96%, which was lowest in 40 months, buoyed the market with the hopes of a rate cut from RBI. Also, inflation is expected to stay lower as crude oil prices have declined sharply in recent weeks.

Tuesday - Sensex up 2.11%, Nifty up 2.16%, Midcap up 1.39%
Markets continued to rise higher with previous day news of lower inflation data, which arrived during late trading hours, continued to instill confidence in expected RBI rate cut. Fall in gold prices also led to hopes of better current account deficit and benefited the market.

Wednesday - Sensex slightly down 0.07%, Nifty flat 0.00%, Midcap up slghtly by 0.23%
Two days of rally gave opportunity to book some profits.

Thursday - Sensex up 1.52%, Nifty up 1.66%, Midcap up 1.10%
Rate cut hopes on coming RBI meet on May 3, SC order to lift ban on nine iron ore mines and FII buyings led the sensex to cross 19K level.

Friday - Markets closed on occasion of Ram Navmi