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Sunday, August 05, 2012
Weekly Newsletter - Aug 5 2012
The indices did manage to eke out around 2% gains after being on a weekly loss for a couple of weeks. Dark clouds would actually bring joy as the focus of the nation is on the deficient monsoon. If the rain gods fail to shower their blessings adequately, India could see its growth in the current fiscal falling to 6% according to the Planning Commission. Any positive signals from the Euro zone can provide comfort and support to the markets which remain on tenterhooks. Corporate results will continue to flow in bringing in the necessary action in those particular stocks. As far as key data points are concerned the IIP numbers would be keen awaited on Friday. Globally too various data points will provide some cues on the current state of affairs. The month of August is not really known for much gains or pains. At best we could remain in a tight range for sometime. In short, the coming week will continue to swing more to the global cues than any domestic affair.
Markets rise after a 3-week slide
The Indian markets surged this week after falling for three straight weeks as investors went on bargain hunting. The Sensex rose 2.13% and the Nifty gained 2.27% for the week ended August 03, 2012. Major Healines of the Week gone by: RBI leaves key rates unchanged June exports falls 5.45%, imports slips 13.46% Manufacturing PMI slumps to 8-month low RBI’s cut in SLR does not impress banks BSE to exclude 52 stocks from September 28
Pharma stocks extend recent gains
Key benchmark indices fell for the second straight day as a downward revision in 2012 monsoon forecast from the state-run India Meteorological Department (IMD) on Thursday, 2 August 2012, hurt investor sentiment adversely. Nevertheless, a rally in European stocks helped Indian stocks stage strong intraday rebound. The market breadth was negative. The barometer index, BSE Sensex, lost 26.43 points or 0.15%, up close to 170 points from the day's low and off close to 10 points from the day's high. Pharma stocks extended their recent uptrend, with Sun Pharmaceutical Industries hitting a record high. European stocks surged after European Central Bank (ECB) president Mario Draghi on Thursday, 2 August 2012, said the ECB may soon step in to buy government bonds in the open market, possibly in unlimited quantities, and will consider other unconventional measures to lower exceptionally high borrowing costs of financially stressed euro-zone economies.
Market gallops on bargain hunting
The market rose on bargain hunting last week after declining in past three consecutive weeks. Data showing resumption of buying of Indian stocks by foreign funds underpinned sentiment. Key benchmark indices rose in three out of five trading sessions. The BSE Sensex rose 358.74 points or 2.13% to 17,197.93. The 50-unit S&P CNX Nifty rose 115.85 points or 2.27% to settle at 5,215.70. The BSE Mid-Cap index rose 3.14% and the BSE Small Cap index rose 2.96%. Both these indices outperformed the Sensex.
Thursday, August 02, 2012
Market may open slightly higher
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 11 points at the opening bell. Asian shares eased on Thursday as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank's meeting later in the day and after the US Federal Reserve took no action a day earlier. State Bank of India (SBI) and the National Scheduled Tribe Finance and Development Corporation (NSTFDC) on Wednesday, 1 August 2012, signed a Refinance Agreement for channelizing concessional loans to the Scheduled Tribes. Ambuja Cements on Wednesday said its cement dispatches rose 1.25% to 16.97 lakh tones in July 2012 over July 2011. Cement production rose 1.13% to 16.87 lakh tones in July 2012 over July 2011.
Daily News Roundup - Aug 2 2012
Nirma Ltd’s proposed merger with Saurashtra Chemicals Ltd (SCL) has been given a go-ahead by the Competition Commission of India (CCI). (BL) DLF said that it is targeting to raise around Rs.30bn from sales of its 17.5 acre prime land in Mumbai and the deal is expected to close this quarter. (BL) Tulip Telecom Ltd has got a Rs.0.87bn order from the Unique Identification Authority of India (UIDAI) for hosting data centre space(BL) Uninor said that it will auction its business and assets in a bid to get maximum possible returns for its investors (BL)
Market flattens ahead of Fed, ECB meets
It was the fourth straight trading session on Dalal-Street which saw the Indian equity markets end with gains. After no surprises from the Reserve Bank of India on Tuesday where the apex bank kept key interest rates unchanged, frontline Indian indices closed flat in a rangebound session today. Today’s modest gains were seen despite overnight losses in US markets and select Asian markets. Market did manage to gain ground in the mid afternoon trades. Profit booking in the Metals, Oil & Gas, Oil & Gas and select Telecom stocks kept those gains in check. The broader markets outperformed the benchmark indices as the Mid-Cap and the Small Cap stocks which were badly beaten down witnessed some bargain hunting. The BSE Mid-Cap index gained 1% while the BSE Small-Cap index rose 1.1%.
Nothing to depend on…
My brother, someone who I know I can always depend on! - Catherine Pulsifer The fatigued markets are searching for some positive cues they can depend on. Nothing seems to come by really expect a hope that some policy actions will be taken in the near future. Power outages and bomb blasts are leading the headlines these days. US indices closed lower after the Federal Reserve maintained status quo on its economic policies. Of course it was a day of yet another instance of algorithms going wild. The New York Stock Exchange said it is investigating trading activity in 140 stocks.
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