Market slips on weak global cues

The market declined marginally last week on weak global cues amid dimming hopes that US politicians will reach a debt deal before the end of the year. United States is the world's biggest economy. Gains fuelled by hopes of new government reforms also subsided as the winter session of parliament ended on Thursday, 20 December 2012. The BSE Sensex fell 75.25 points or 0.39% to 19,242 in the week ended Friday, 21 December 2012. The 50-unit S&P CNX Nifty declined 31.90 points or 0.54% to 5,847.70 in the week. The BSE Mid-Cap index fell marginally by 0.02% and the BSE Small-Cap index fell by 0.38%. Both these indices outperformed the Sensex.

Market settles at over 19-month high; Sensex crosses 19,000 mark

The market settled at over 19-month closing high on hopes that the government would be able to push through a host of reforms measures during the current session of Parliament. Affirmative statement about the Indian economy from ratings agency Moody's also helped the market edge higher. The week's rally was also supported by news that Greece will get bailout fund from the troika of international lenders comprising the European Union, the European Central Bank and the International Monetary Fund (IMF). The BSE Sensex surged 833.33 points or 4.50% to 19,339.90 in the week ended Friday, 30 November 2012, its highest closing level since 27 April 2011. The 50-unit S&P CNX Nifty rose 253.25 points or 4.50% to settle at 5879.85, its highest closing level since 21 April 2011.

The global market events will start becoming relevant for the Indian markets as the domestic earnings season winds up

Although the Indian market closed lower than the end of the previous week, the noting factor was the resilience of it as compared to the other major bourses. Markets globally did not react positively to the reelection of Mr. Barack Obama, rather the US indices slipped sharply and continued its downward trajectory till the week end. The European and most of the Asian bourses reacted the same way as fear of fiscal cliff in the US and the consequent impact on the global markets weighed heavily among the market participants. Relative outperformance of the Indian markets was perhaps due to the perception that the move to correct fiscal cliff would benefit the Indian market in the medium term. In general the Indian markets have really ignored the global events during the past several weeks. On Friday though the market witnessed sharp correction following lower than expected earnings reporting by SBI. Poor result by Tata Steel and ONGC also impacted the market. Overall for the week ended 9th November 2012 the benchmark nifty fell 11.45 points to close at 5686.25. On Friday though some bit of shorts were added in the nifty and stock futures. So perhaps there could be some consolidation in the next week. The nifty future of the November series traded at sharp premium throughout the week and closed at 5720.60 on Friday (34.35 points premium to the underlying). The global cues during the previous week were negative. Following the US election some of the macro data points from Germany disappointed. Perhaps now the global market action would start becoming relevant, now that the domestic earnings season is over. The nifty future of the November series added 3.57 lakh shares in open interest (OI) on the long side during the week under review to take its total OI to 1.89 crore shares. On Friday the OI addition was on the short side. Following disappointing earnings by SBI, the Bank Nifty future of the November series shed 0.55 lakh shares in OI to take its total OI to 12.46 lakh shares. The nifty option segment action on Friday indicates some bit of consolidation in the Diwali week, within the range of 5600-5700. The 5600 and above strike call witnessed aggressive writing, while the 5700 and up strike put shed OI wrote earlier. The average volume during the week under review though was higher at Rs 110048.16 crore as compared to Rs 96645.66 crore during the previous week. Futures and option volume breakup The put-call ratio of index options on Friday was higher at 1.05 as compared to 0.83 the previous day. The stock put-call ratio was higher at 0.66 as compared to 0.6 the previous day. The market wide put-call ratio on Friday was higher at 0.98 as compared to 0.8 the previous trading day. Open Interest (OI) break-up as on 9th November 2012 The option action on Friday indicated some bit of consolidation as call options above the 5600 strike added OI due to writing while the 5700 and above strike put options shed OI as puts wrote earlier were covered. The 5700 and 5800 strike call option added 5.43 lakh shares and 13.92 lakh shares in OI to take their total OI to 45.69 lakh shares and 77.27 lakh shares respectively. The 5600 strike call also added 1.33 lakh shares in OI due to writing. On the other hand the 5700 and 5800 strike put option shed 12.70 lakh shares and 9.41 lakh shares in OI to take their total OI to 58.16 lakh shares and 27.66 lakh shares respectively. (See the most active nifty option table) Open Interest (OI) of major November 2012 series stock futures as on 9th November 2012

Friday’s gaining trend works for 4th week; Mkts wrap week in green

The Indian markets witnessed an action packed trading session for the fourth consecutive week with the Sensex rising 0.05% and the Nifty up by 0.21% for the week ended September 28, 2012. Major Headlines of the Week: S&P cuts India growth forecast to 5.5% Inflows of $2 bn/yr eyed after cut in overseas borrowing tax FDI up 60% to $1.76 bn in July Domestic pharmaceuticals market up 16.9% during August Core sector growth slows to 2.1% in Aug 2012 3rd downgrade in a row; Fitch cuts India growth forecast to 6%

Volatile week ends with gains

The market managed to end the volatile week on a positive note. The market fell in three out of five trading sessions. Most of the gains were recorded in the last trading session of the week on Friday, 28 September 2012, when the market rose on the back of a global rally that was triggered by Spain announcing a crisis budget for 2013 on Thursday, 27 September 2012, based mostly on spending cuts. The BSE Sensex rose 9.91 points or 0.05% to 18,762.74. The 50-unit S&P CNX Nifty rose 12.15 points or 0.21% to settle at 5,703.30. The BSE Mid-Cap index rose 2.72% and the BSE Small Cap index rose 3.06%. Both these indices outperformed the Sensex.

Market gains on positive global cues

The market edged higher last week in tandem with global stock markets as investors risk appetite strengthened after the European Central Bank on Thursday, 6 September 2012, unveiled steps to contain the region's debt crisis. The market rose in three out of five trading sessions. The BSE Sensex rose 254.17 points or 1.46% to 17,683.73. The 50-unit S&P CNX Nifty rose 83.60 points or 1.59% to settle at 5,342.10. The BSE Mid-Cap index outperformed the Sensex, rising 1.77%. The BSE Small Cap index underperformed the Sensex, rising 0.95%.

BSE Small-Cap, Mid-Cap indices slump

The market tumbled for the third consecutive week as stocks fell across the globe on renewed concerns over debt problems in Spain and Greece. The domestic market also fell on concerns over deficient monsoon and delay in key economic reforms in India. The BSE Sensex declined 319.25 points or 1.86% to 16,839.19. The 50-unit S&P CNX Nifty fell 105.25 points or 2.02% to settle at 5,099.85. The BSE Mid-Cap index slumped 4.80% and the BSE Small Cap index slumped 4.76%. Both these indices underperformed the Sensex.

Corporate earnings, IIP data in focus

First quarter June 2012 corporate earnings and macroeconomic data may dictate near term trend on the bourses. The government will announce data on index of industrial production (IIP) for May 2012 on Thursday, 12 June 2012. The next major trigger for the stock market is Q1 June 2012 corporate earnings. Investors and analysts will closely watch the management commentary that would accompany the result, which could cause revision in their future earnings forecast of the company for the current year or the next year. A deceleration in top line growth of India Inc amid economic slowdown and slowdown in investment cycle will weigh on bottom line growth in Q1 June 2012 as the core operating profit margin could be negatively impacted by deceleration in top line growth.

Market gains for fourth week in a row

Key benchmark indices surged after European Union (EU) leaders agreed on a growth and bank recapitalization plan for Europe which is designed to alleviate the worst of the current debt crisis gripping euro-zone. The market sentiment also improved after the government said Prime Minister Dr. Manmohan Singh who took charge of the finance ministry on Wednesday, 27 June 2012, is chalking out plan for the country's economic revival. The barometer index, BSE Sensex, regained psychological 17,000 level. The Sensex gained in four out of five trading sessions of the week that ended on Friday, 29 June 2012. The Sensex and the Nifty gained for the fourth week in a row. Volatility was high during the week as traders rolled over positions from June 2012 series to July 2012 series. The June 2012 derivatives contracts expired on Thursday, 28 June 2012.

Market spurts on rate cut hopes

The market spurted last week on hopes that the Reserve Bank of India (RBI) will cut interest rates at mid-quarter monetary policy review on 18 June 2012 to prop up slowing economy. The market sentiment also got a boost after Prime Minister Manmohan Singh on Wednesday, 6 June 2012, announced a big push to the infrastructure sector to revive sagging economic growth. The barometer index, BSE Sensex rose 753.71 points or 4.72% to 16,718.87. The 50-unit S&P CNX Nifty rose 226.75 points or 4.68% to 5,068.35. The BSE Mid-Cap index rose 2.86% and the BSE Small-Cap index rose 2.13%. Both these indices underperformed the Sensex. Foreign institutional investors (FIIs) sold shares worth net Rs 1807.70 crore in June 2012 so far (till 6 June 2012). FIIs sold shares worth net Rs 347.10 crore in May 2012. They had sold shares worth net Rs 1109.10 crore in April 2012. FIIs have bought shares worth net Rs 40686.70 crore in calendar 2012 so far (till 6 June 2012). FIIs had offloaded shares worth a net Rs 2714.20 crore in 2011.

Market ekes out small gains

The market managed to garner small gains after moving in a tight range in the week ended 25 May 2012. The market fell in three out five trading sessions in the week just gone by. Investors cheered the government's announcement on Wednesday to allow state oil companies to raise petrol prices, seeing it as a step taken forward towards fiscal consolidation. A timely arrival of monsoon rains over the Andaman Sea also helped lift sentiment. State-run oil marketing firms raised petrol prices by Rs 7.50 per litre to Rs 73 per litre effective midnight 24 May 2012. This is the steepest ever increase in petrol prices. The revision in petrol prices comes as the rupee hit an all-time low against the dollar on Wednesday, 23 May 2012, leading to jump in oil import bill for state-run oil refining-cum-marketing firms. The barometer index, BSE Sensex rose 65.07 points or 0.4% to 16,217.82. The 50-unit S&P CNX Nifty gained 28.95 points or 0.59% to 4920.40. The BSE mid-Cap index gained 0.61% and the BSE Small-Cap index gained 1.01%. Both these indices outperformed the Sensex. Key benchmark indices edged higher in volatile trade on Monday, 21 May 2012 as European stocks rose. The BSE Sensex advanced 30.51 points or 0.19% to settle at 16,183.26, its highest closing level since 15 May 2012.

Choppy trading week ends with a loss

The market fell last week after a dip in India's industrial growth, weak global markets and a massive earthquake in Indonesia that triggered tsunami fears in the Asian region, including India, dampened investor sentiment. Trading was volatile throughout the week.

The Sensex fell 391.51 points or 2.24% to 17,094.51 in the week ended Friday, 13 April 2012. The S&P CNX Nifty fell 115.45 points or 2.17% to 5,207.45.

The BSE Mid-Cap index fell 2.10% and the BSE Small-Cap index fell 0.67%. Both these indices outperformed the Sensex.

BSE Small-Cap, Mid-Cap indices outperform Sensex

Key benchmark indices eked out small gains in a truncated week. Mid-cap and small-cap stocks were in demand. The market rose in two of three trading sessions during the week ended Wednesday, 4 April 2012. The stock market remains closed on Thursday, 5 April 2012, on account of Mahavir Jayanti and again on Friday, 6 April 2012, on account of Good Friday.

The BSE Sensex rose 81.82 points or 0.47% to settle at 17,486.02 in the week ended Wednesday, 4 April 2012. The S&P CNX Nifty rose 27.35 points or 0.51% to 5,322.90.

The BSE Mid-Cap index rose 2% and the BSE Small-Cap index gained 3.25%. Both these indices outperformed the Sensex.

Market declines for 5th consecutive week

The market declined for the fifth week in a row due to uninspiring budgetary proposals and weak global markets. Finance Minister Pranab Mukherjee unveiled Union Budget 2012-13 last Friday, 16 March 2012, which set only modest targets for trimming a ballooning fiscal deficit and there was lack of any big-bang reform announcement in the Budget, dampening investor sentiment.

The move by the railway minister on Thursday, 22 March 2012, to rollback some of the tough proposals in the Railway Budget due to populist demands also unnerved investors. The weakness of the Indian rupee against the US dollar also left investors jittery.

Market falls for fourth straight week

The key benchmark indices logged declines for the fourth consecutive week as Finance Minister Pranab Mukherjee's Union Budget 2012-13 failed to give any roadmap about the reform process and plans to revive the economy. The market rose on three of five trading sessions. Volatility was high as slew of events were lined up during the week.

The Sensex fell 37.04 points or 0.21% to 17,466.20 in the week ended Friday, 16 March 2012. The S&P CNX Nifty slipped 15.65 points or 0.29% to 5,317.90

Market snaps 7-week rally on profit booking

The market tumbled last week, snapping a seven-week rally, as investors booked profits as concerns mounted over rising crude oil prices.

The Sensex fell 365.78 points or 2% to 17,923.57 in the week ended 24 February 2012. The S&P CNX Nifty fell 135 points or 2.43% to 5,429.30.

The BSE Mid-Cap index tumbled 3.74% and BSE Small-Cap index slipped 3.65%. Both these indices underperformed the Sensex.

Higher oil prices spoiled investor sentiment. India imports about 80% of its total oil consumption and the rise in prices could worsen a widening trade deficit. Oil advanced for the seventh day in a row on Friday, 24 February 2011, the longest winning streak since January 2010, on signs of economic recovery from the US to Germany and concern escalating tension with Iran threatens crude supplies. Nymex crude oil for April delivery hovered at $108.31 a barrel in Asian electronic trading on Friday, 24 February 2012.

Market extends rally for 5th week in a row

The market jumped last week on strong inflows from foreign institutional investors (FIIs). Data released during trading hours on Wednesday, 1 February 2012, showing strong manufacturing sector growth in January 2012 underpinned sentiment. A private survey showing that the services sector grew at its fastest pace in six months in January 2012, further boosted market.

The BSE Sensex rose 370.98 points or 2.15% to 17,604.96 in the week ended Friday, 3 February 2012. The S&P CNX Nifty rose 121.15 points or 2.33% to 5,325.85.

The BSE Mid-Cap index rose 2.96% and the BSE Small-Cap index rose 3%. Both these indices outperformed the Sensex.

Market gains on hopes of rate cut, easing euro-zone debt worries

The market edged higher last week on receding euro-zone debt worries. Positive sentiment was also supported by a steep decline in food inflation in late December 2011, which underpinned hopes that the Reserve Bank of India (RBI) will start cutting interest rates in the coming months to prop up slowing economy. A stronger-than-expected growth in industrial production in November 2011 also strengthened investors' sentiment.

The BSE Sensex rose 286.89 points or 1.81% to 16,154.62 in the week ended Friday, 13 January 2012. The S&P CNX Nifty rose 111.90 points or 2.35% to 4,866.

The BSE Mid-Cap index rose 6.14% and the BSE Small-Cap index rose 8.19%. Both these indices outperformed the Sensex.

Market slips as investors brace for weak Q3 earnings season

Bears tightened their grip on the market in the last week of the calendar year 2011 as investors were concerned about upcoming Q3 December 2011 corporate earnings season. Recent media reports that Indian and Mauritian tax officials have begun talks on revising the double taxation avoidance pact between the two countries also weighed on sentiment as it could adversely impact foreign fund flow into Indian equity market.

About 40% of foreign institutional investors (FIIs) inflows and around 42% of the foreign direct investment (FDI) in India are routed through Mauritius. While short-term capital gains are taxed at 15% in India, they are exempted in Mauritius. Several companies take advantage of the double taxation avoidance pact between the two countries and escape paying taxes in both the countries.

BSE Small-Cap, Mid-Cap indices slide over 1% each

Key benchmark indices managed gains as investors resorted to bargain hunting after recent steep slide in share prices. The latest data showing food inflation easing sharply to a near four-year low also aided sentiment. Easing of inflation may prompt the central bank to cut interest rates to revive sagging economic growth. The market fell in three out of five trading sessions in the week gone by.

The food inflation eased sharply to 1.81% in the year to 10 December 2011, from an annual 4.35% rise in the previous week, government data showed on Thursday, 22 December 2011. The fuel inflation remained unchanged at 15.24% in the latest week compared with the prior week, data showed, while the primary articles price index rose 3.78%, compared with an annual rise of 5.48% in the previous week.