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Friday, May 11, 2012
FII activity holds key
The market may remain rangebound although stock-specific activity could be witnessed based on Q4 earnings. On the macro front, the government will announce inflation data for the month of April 2012 on Monday, 14 May 2012. The annual rate of inflation based on the Wholesale Price Index (WPI) is seen easing to 6.6% in April 2012, as per the median estimate of a poll of economists carried out by Capital Market. The annual rate of inflation, based on monthly WPI, stood at 6.89% (provisional) for the month of March 2012. Investors are closely watching India Inc's Q4 March 2012 and year ending March 2012 (FY 2012) earnings. Focus is on the guidance provided by the managements for the year ending March 2013 (FY 2013) to gauge the earnings outlook.
Markets down for 3rd straight week; Nifty breaches 5K
The Indian markets ended lower for the third straight week. The Sensex was down 3.19% and the Nifty fell 5.07% for the week. Major headlines of the week: IIP for March at -3.5% vs 4.1% in Feb Exports grow 3.23% at $24.5bn; trade deficit widens to $13.4bn April car sales up 3.4% y-o-y Andhra Bank Q4 net profit up by 8% Central Bank hits monthly low after poor FY12 nos Kotak Bank FY12 cons net profit up 17%
Manappuram Finance leads gainers in 'A' group
Jubilant FoodWorks, Muthoot Finance, Jaiprakash Associates and Bajaj Auto are among the other gainers. Non-banking financial services company Manappuram Finance spurted 14.39% to Rs 23.05 on bargain hunting after the stock slumped 33.50% in the preceding eight sessions to Rs 20.15 on 10 May 2012 from a recent high of Rs 30.30 on 28 April 2012. The stock topped the gainers in the BSE's 'A' group. The company will announce its year ended March 2012 results on 18 May 2012. Food service company Jubilant FoodWorks jumped 7.66% to Rs 1,131.45. The stock was second biggest gainer in 'A' group.
Nifty falls below 5,000
Key benchmark indices slumped as macroeconomic worries and weak global stocks hurt investor sentiment. The 50-unit S&P CNX Nifty fell below the psychological 5,000 mark. The market fell in four out of five trading sessions in the week ended Friday, 11 May 2012. The latest domestic data showed industrial production contracted 3.5% from a year earlier in March as manufacturing output shrank, deepening worries of a slowdown in the economy. The last time industrial output contracted was in October 2011, when production fell 5%. Manufacturing output, which has a 75.5% weight in the index of industrial production, contracted 4.4% from a year earlier in March. It had risen 3.9% on year in February. Capital goods output shrank 21.3%. However, electricity production increased 2.7% from a year earlier in March. For the year ended March 31, industrial output grew a muted 2.8%, against an 8.2% increase in the previous year, government data showed.
Thursday, May 10, 2012
Flat start on the cards
The Indian markets may begin the trade on a flat note on the back of mixed Asian cues. SGX Nifty is trading 32.50 points higher. Headlines for the day: Cairn Energy acquires Agora Oil and Gas. Jewellery industry to see muted demand in 2012: Fitch. RIL raises Rs10K cr for petrochemical plant expansion. MTNL to offer VRS to about 20,000 employees. Sesa Goa shareholders meet June 19 on Sterlite merger. Events for the day: Results: Apollo Tyres, Cadila Healthcare, Canara Bank, Cipla, Jain Irrigation Systems, Jubilant FoodWorks, Lupin, NTPC.
Market poised for a positive start; NTPC, Cipla earnings eyed
The market is likely to see a firm start as most Asian markets edged higher on Thursday on news that Greece will receive its latest debt bailout payment. However, selling by foreign funds in the prior three trading sessions and weakness in the rupee may cap gains. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 13 points at the opening bell. Power generation major NTPC unveils its FY 2012 results today, 10 May 2012. Pharma major Cipla also declares its Q4 results today, 10 May 2012. State-run oil exploration giant ONGC reportedly plans to foray into city gas distribution business and sale of imported liquefied natural gas business through a new subsidiary ONGC Gas. Reliance Industries (RIL) may see action after the company market hours on Wednesday, 9 May 2012, said it has signed a $2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. ("Euler Hermes") on 7 May 2012 at Berlin, Germany. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India. The facility is among the largest underwriting by Euler Hermes in recent years, RIL said. Euler Hermes has for the first time accorded 'Better than Sovereign' rating to a corporate, RIL said.
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