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Monday, August 15, 2011
Weekly Technical Analysis - Aug 15 2011
After sending a sell signal last week, the Sensex touched a low of 16,420 — down nearly 900 points for the week. The index, thereafter, consolidated and finally ended on Friday at 16,840, losing 466 points.
Among the index stocks, Tata Group stocks (Tata Power, Steel, Motors and TCS) witnessed heavy selling and were down 10-12 per cent. Infosys, Hindalco, Wipro, Bharti Airtel and Sterlite were the other major losers. Auto stocks, however, bucked the trend. Mahindra & Mahindra zoomed 13 per cent to Rs 740. Hero MotoCorp, Maruti Suzuki and Bajaj Auto ended with gains of four to six per cent each.
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Crude ends lower for first time in three days
Negative consumer sentiment report weighs on investors
Crude-oil futures snapped a two-day winning streak on Friday, 12 August 2011. Oil futures had weathered a negative consumer sentiment report and cheered data showing growth in the nation's retail sales for July and rising U.S. equities.
India in better shape to tackle global crisis: FM
India's fundamentals are strong and the country is in a better shape than other nations to meet the challenges arising out of the latest global financial turmoil, Finance Minister Pranab Mukherjee said. However, he added that there could be some impact on the Indian economy from the uncertain economic conditions in the US and the eurozone. "The recent developments in the US and the Eurozone have injected certain uncertainty in global markets. These developments could have some impact on India. But as India's growth story is intact and its fundamentals strong, we are in a better position than many other nations to manage the challenge," Mukherjee said.
Weekly Stock Picks - Aug 15 2011
Buy GAIL
Buy Satyam Computers
Buy Cairn India
Buy Jain Irrigation
Buy Aurobindo Pharma
Weekly Newsletter - Aug 15 2011
It promised to be a terrible week and started really badly, as investors scurried for cover in the wake of the US downgrade by S&P. But by the time the tumultuous week wound down the losses for the key Indian indices didn’t seem so horrific. Even the world markets recovered from the initial jolt, with investors snapping up beaten down stocks. However, volatility skyrocketed with stock indices gyrating throughout the week.
US downgrade sends shivers across global markets
World markets continued to reel from S&P's shock downgrade of the US' top credit rating even as Europe struggles to contain the debt crisis in the region. Several top equity markets in the world suffered their worst declines since the 2008 financial crisis. The freefall was led by US indices. The Dow on Monday sank 634 points, only to rebound with a 429-point gain on Tuesday. The blue chip benchmark fell 519 points on Wednesday and surged 423.37 points on Thursday. The blue-chip index was still down 2.6% for the week till the end of Thursday's trade.
Onion produce to fall this year
Onion production is likely to decline by about 20-30% this year due to deficient rainfall in the major producing regions of Maharashtra and Gujarat.
"Major producing regions of Maharashtra, Karnataka and Gujarat have received less rainfall this year and therefore, onion production could fall by about 20-30%," National Horticultural Research and Development Foundation (NHRDF) Director R K Gupta told PTI.
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