Indian stock markets closed the first week of 2015 on a positive note led by supportive domestic cues and gains in global markets.
Major Headlines for the week:
Annual Report 2014: Full marks to ModiFied India
Investors wish to recreate Modi-Mania in 2015
Stock which gave 200% returns in 2014
Nov infrastructure output hits 5-month high of 6.7%
LPG cylinder price cut by Rs43.5; ATF by 12.5%
India December HSBC Mfg PMI at 2 year high
Welcome to the ‘Weekly Market Wrap’ for Friday, January 02, 2015 where key benchmark indices edged higher last week in consonance with a rally in other Asian stock markets.
Market rose in all five trading sessions of the week. Major gains, however, were reported on Friday, 2 January 2015, following the government’s move to replace the Planning Commission with more efficient NITI Aayog (National Institution for Transforming India).
In the week ended on Friday, 2 January 2015, the S&P BSE Sensex rose 646.12 points or 2.37% to settle at 27,887.90, its highest closing level since 8 December 2014.
The CNX Nifty rose 194.75 points or 2.37% to settle at 8,395.45, its highest closing level since 8 December 2014.
The BSE Mid-Cap index rose 414.35 points or 4.10% to settle at 10,530.20. The BSE Small-Cap index rose 413.26 points or 3.79% to settle at 11,308.15. Both these indices outperformed the Sensex.
Weekly market trend from December 29 – January 02:
December 29- Indian shares rose for the second consecutive session on Monday, led by metals and mining firms such as Tata Steel on expectations the government would pass executive orders to ease land acquisition rules and auction minerals such as iron ore. The S&P BSE Sensex and CNX Nifty ended 0.57%-0.56% higher each. The 30-share Sensex ended up 154 points at 27,396 and the 50-share Nifty ended up 46 points at 8,246.
December 30- Indian shares ended flat on Tuesday as weaker regional shares offset optimism over additional reforms a day after the government passed an executive order to ease land-acquisition rules. The S&P BSE Sensex and CNX Nifty ended 0.03%-0.02% higher each. The 30-share Sensex and the 50-share Nifty ended flat at the mark of 27,403 and 8,248 respectively.
December 31- Key benchmark indices logged decent gains on Wednesday. After gyrating in a small range throughout the day, key indices extended gains and hit intraday high in late trade. The S&P BSE Sensex rose 95.88 points or 0.35% to settle at 27,499.42. The CNX Nifty rose 34.45 points or 0.42% to settle at 8,282.70.
January 01- Key benchmark indices eked out tiny gains on Thursday. After moving in a small range for most part of the day’s trading session, key indices reversed intraday losses to hit intraday high in late trade. Trading activity was quiet with total traded volume and turnover being low. The S&P BSE Sensex rose 8.12 points or 0.03% to settle at 27,507.54. The CNX Nifty was up 1.30 points or 0.02% at 8,284.
January 02- Gains in frontline stocks sent key benchmark indices surging on Friday. The S&P BSE Sensex gained 380.36 points or 1.38% to settle at 27,887.90. The CNX Nifty gained 111.45 points or 1.35% to settle at 8,395.45.
Majority of the Global Indices closed in the red terrain, barring Shanghai Composite and Hang Seng which were up by 2.44% and 2.18% each. Top Losers: Nikkei down 2.07%, Nasdaq down 1.67%, DAX100 fell 1.59% and Dow Jones slipped 1.22%
Sectoral and stock screening:
Top gainers: S&P BSE CG up 4.28%, S&P BSE CD up 4.27% and S&P BSE Power up 4.09%
Looking at the ‘A’ group stocks, the top three gainers of the week were – Gujarat Pipavav up by 27.36%, Aban Offshore up by 22.36% and Pipavav Defence up by 17.92%
Top three losers of the week were – PMC Finance down by 23.60%, Gujarat Gas down by 4.46% and Indraprasth Gas down by 2.81%.
The foreign institutional investors (FIIs) have been the net buyers of the Indian stocks to the tune of Rs646.16 crore and the domestic investors bought Indian shares worth a net of Rs717.30 crore as on January 01, 2015.
Market Outlook for the coming week!
In the coming week, trend in global markets, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar, and crude oil price movement will dictate near term trend on the bourses amid lack of major economic data announcements.
A major trigger for the markets in the near term is Q3 results of India Inc. Earnings season starts from second week of January 2015 and ends in second week of February 2015. IT major Infosys kicks off Q3 results season on Friday, 9 January 2015.
Investors’ focus will remain on further policy announcements, if any, by the government.