Weekly Market Update - Oct 15 2011
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Showing posts with label Weekly Update. Show all posts
Showing posts with label Weekly Update. Show all posts
Saturday, October 15, 2011
Wednesday, August 25, 2010
Monday, September 24, 2007
Tuesday, September 18, 2007
Monday, July 16, 2007
Monday, June 18, 2007
Tuesday, June 12, 2007
Sunday, May 27, 2007
Weekly Market Update
It was a week of two way movement in most of the indices. The strength at the opening of the week was marred by casual profit taking at the higher levels, as predicted in this report last week. Distinct feature of the week was ongoing NEGATIVE DIVERGENCE between the two leading indices viz. SENSEX and NIFTY. Both the indices are not moving in tandem with each other. Another noteworthy point is that the volumes in F&O segment remain stagnant in spite of addition of 31 stocks to this group. Expect much more profit taking to emerge in the coming week as the trading community will remain confused about the immediate future of the market. A divided market cannot ensure sustained movement on either side though negative divergence tilts the balance marginally in favor of the sellers
It was a see-saw movement in the Nifty primarily due to a divided party among the market players. The Nifty closed marginally positive while the Sensex closed slightly negative . The Bears attacked the leaders of the rally Banking sector and RIL, but as expected the CGS, FMCG and IT sector stocks rescued the Bulls. The volumes were lower than previous session which is a bit of concern. After some profit taking at higher levels, the Nifty bounced from its weekly S1 of 4,143 points. It is holding on to its trendline support in green which is currently pegged at 4,185 points. A decisive breach of this level will test the support of 4,135-4,143 points. As long as 4,101
points holds the up trend is intact. Crucial resistance in the Nifty is pegged in the 4,323-4,332 points’ range. Failing to cross the resistance zone, another round of profit taking canno t be ruled out. From an immediate scenario, if the Nifty succeeds in crossing the bottleneck area of the 4,291-4,305 we could see it attempting the
monthly R2 of 4,332 points. Crucial support is at 4,185 points. One should be extremely cautious as we are seeing negative divergence in the Nifty. Traders should book profits regularly on rise. We had mentioned that the IT & FMCG stocks have to participate for the Nifty to sustain in the new high territory. Also keep an eye on the settlement finisher ONGC as above ones could decide the future movement of the
Nifty. Metals stocks have been consistent performers but how long can they run?
Tuesday, May 08, 2007
Monday, April 23, 2007
Monday, March 12, 2007
Monday, February 12, 2007
Saturday, January 13, 2007
Dramatic bounce back for the market
There was some dramatic action in the market this week. While the market saw significant falls on three consecutive days starting Monday, it bounced back with a vengeance on Thursday by posting robust gains of 268 points. There were some fears of we heading for a serious correction when the Sensex lost round about 500 points from last Friday’s close till Wednesday’s close. In the light of these developments, the 268 points gain on Thursday came as a breather. Friday’s gains were all the more euphoric. The Sensex and the Nifty both touched their all time highs on the day gaining 425.82 points and 110.20 points respectively at closing.
The Sensex closed Friday at 14056.53, up 196.01 points over last Friday’s closing. The Nifty closed at 4052.45, up 69.05 points over the week.
On Monday, January 8, the Sensex corrected 208.37 points to settle at 13652.15. There was correction across all Asian indices on the day and our bourses were not spared either. The fall in the BSE Mid-mid cap index was comparatively less severe at 0.4% as against Sensex’s 1.5%. We had the BSE Small-Cap index actually rising on the day by 0.8%. This can be seen symbolic of the action moving from large cap stocks to small caps and mid caps, something that market men have been anticipating for a while. IT, telecom and auto shares came down sharply on Monday.
The correction phase extended to Tuesday as well with the Sensex losing a further 85.82 points to close at 13652.15. The IT sector again played a role in the fall. With the rupee appreciating, there were concerns about companies in the sector being able to maintain their profitability levels. Many felt that it was purely a technical correction and expected the markets to pull back on Wednesday after two days of sluggishness. But they were proved wrong, as there was a further decline of 204.17 points or 1.5% in Sensex on Wednesday. There have been reports about hedge funds selling Asian equities to offset the losses incurred by them on account of a sharp 9% fall in oil price since the beginning of 2007. On the day, Nifty’s strong resistance at 3900 was broken and the closing was well below that level at 3850.30, down 1.5% over the previous day’s close.
The correction sentiment reversed finally on Thursday when the Sensex gained 268 points. The gains were based on short covering of positions and market men opined that one could not infer the bull run having resumed on the basis of Thursday’s gains. But come Friday, and the Sensex sky rocketed to close above the psychological mark of 14000 while Nifty too crossed its psychological 4000 mark. And this time the gains were not defensive. They came on a build up of fresh new long positions.
On Friday, the BSE Small Cap index closed at 7278.33, posting a gain of 180.15 points over last Friday’s closing. The BSE Mid Cap index closed Friday at 5974.64 points gaining 38 points over the week.
Among individual stocks, Infosys was in the news for its quarterly results. The results were as per market expectation but over the week, the stock has been a loser by Rs.52.45. The stock closed Friday at Rs.2222.35.
Index heavy weight Reliance Industries gained 4% over the week to close at 1340.10. Its Q3 results are to be announced on January 18.
Reliance Communications was down Rs.13.40 over the week. It closed Friday at Rs.433.75. On Wednesday, the company’s board approved a foreign currency convertible bonds (FCCBs) of up to $1 billion in one or more tranches.
ICICI Bank’s dollar-denominated, three-tranche debt offering reportedly received strong response. The transaction, expected to raise at least $300 million, has attracted orders worth over $2 billion. The stock rose by Rs.59.70 over the week to close at Rs 970.10.
HDFC Bank came out with its third quarter results on Thursday. It has reported 31.7% growth in net profit for Q3 December 2006 at Rs 295.64 crore. The net profit was within market expectations. Net interest income has risen a 38.4% to Rs 928.63 crore (Rs 670.61 crore), beating market expectations. The stock closed flat at 1.63.25, just 0.87% above its previous week’s close.
Despite falling crude prices, ONGC stood at Rs.924.85 on Friday, up Rs.28.90 over its previous week closing. Other oil PSUs HPCL and BPCL also did well. HPCL closed at Rs.304.15 up Rs.6.80 while BPCL was up by Rs.16.95 at Rs.368.70. The last trading day of the week was particularly good for the oil companies.
IFCI soared this week on the back of it selling a part of its stake in NSE for $160 million. The company plans to utilize the money for lending to AAA rated companies. The stock shot up to Rs.21.82, gaining 67% over last Friday’s close of Rs.13.06.
TV Today gained 15% over its previous week’s close to settle at 96.85. The gains came following a bulk deal amounting to a stake of 1.3 per cent in the company.
Zee Telefilms demerged its news business to Zee News Limited (ZNL) and the cable business of the company and that of Siti Cable Network, to Wire & Wireless (India) Limited (WWIL). Zee News closed the week at Rs 29.95 while Wire & Wireless settled at Rs 122.10.
In the IPO segment, Cairn India got listed on Tuesday, January 9. It listed at Rs.140, which is 12.5% below its issue price of 160. The stock traded at a discount through out the day to finally close the day at Rs.137.50. The issue had not got a good response on subscription and the down beat sentiment was reflected in its listing as well.
On the other hand, Shri Ashtavinayak Cine Vision, which got listed a day after the Cairn India IPO did quite well. Its IPO price was Rs.160. The stock did well despite the bearish market sentiment on the day. It closed the day 66.50 points above its IPO price at 226.50. The company is in the business of movie distribution and is said to have a good track record.
As per data available till Thursday, mutual funds were net sellers in equities to the tune of Rs 887.20 crores. FIIs until Wednesday, were net sellers to the tune of Rs.4549.80 crores.
Saturday, December 16, 2006
Up Again
The euphoria of the past few months vanished in just a day. One sharp correction sent the bulls running for cover.
The RBI hiked the CRR by 50 basis points causing a liquidity crisis which triggered the market fall.
On Monday (November 11), the Sensex fell by about 400 points to close at 13,399.43 while the Nifty at 3,850. Banking stocks were badly hit with ICICI Bank and SBI being the major losers. On the NSE just 98 advanced while 865 declined. On the BSE, 400 advanced while 1,392 declined. FIIs and mutual funds were net sellers to the extent of Rs 153 crore and Rs 602 crore, respectively.
Tuesday brought no relief for the bulls. Heavyweights ABB, ACC, SBI, BHEL, RIL and ONGC led the fall. Capital goods sector was the major loser with L&T, Siemens, ABB and Punj Lloyd beaten down.
The Sensex closed lower at 12,995 and Nifty at 3,717. Mid-cap stocks continued to take a beating and the CNX Mid Cap, which closed at 4940.6 on Monday closed at 4,723.8 on Tuesday.
Turnover on the BSE rose from Rs 4,920.29 crore to Rs 4930.56 crore today. Ditto on the NSE. It rose from Rs 9,344.45 crore on Monday to Rs 11,085.28 crore on Tuesday.
On the NSE, 70 stocks advanced while 900 declined. On the BSE, 277 advanced while 1,518 declined.
Mutual funds continued as net sellers to the tune of Rs 517.51 crore while FIIs were net buyers worth Rs 422.3 crore.
Wednesday was a little better than Tuesday. Banking and Capital Goods were back in demand with RIL, ACC, SBI, Satyam Computer and L&T causing the indices to rise.
The Sensex closed at 13,181.34 (higher than Tuesday but lower than Monday) and the Nifty at 3,765.
Turnover on the BSE was Rs 4421.32 crore and on the NSE, Rs 9635.82 crore.
The number of scrips that advanced (706) on the NSE (245) was higher than those that declined and also on the BSE with 1171 advances and 564 declines.
FIIs were net buyers only to the extent of Rs 95.2 crore.
The bulls managed to get a grip on the market on Thursday. The Nifty closed at 3,843 and the Sensex at 13,487.16. The CNX Mid Cap closed at 4,959.8. Banking and technology stocks led from the front. Turnover was low on the BSE (Rs 4415.47 crore) and NSE (Rs 8086.76 crore). On the NSE as many as 851 stocks advanced while just 109 declined. On the BSE, 1,462 advanced while just 307 declined.
This was despite FIIs being net sellers to the tune of Rs 96.9 crore.
The week ended on a better note than it began with the Nifty closing at 3,889 and the Sensex at 13,614.52. The turnover rose to Rs 4,174.5 crore on the BSE and Rs 8,727.03 crore on the NSE. On the BSE, 1,003 advanced while a substantial 657 declined. The CNX Mid Cap closed at 5,011.45.
SBI, NTPC, ITC, BHEL, Tata Steel and ACC were the top losers this week while Satyam and Reliance Communications were the biggest gainers. Tata Steel, which had lost almost 10 per cent in the beginning of the week, recorded a robust 5 per cent gain on Friday to close at Rs 459.25 on the talks that the steel giant might back out of Corus bid.
Monday, December 11, 2006
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