Markets post weekly loss over 1%; Sensex maintains 27k

Global concerns along with falling oil prices weighed on the sentiments this week, with the Sensex falling by 1.54% and the Nifty down by 1.32%.

Major Headlines for the week:

Auto sales December 2014: Ending the year on a high note

Banking Preview: Treasury income to boost earnings in Q3FY2015

Infosys Q3 consolidated net profit up 13%; $ Revenue In-line

Sensex Q3FY15 earnings Preview: Another quarter of moderate growth

Indian indices:

Welcome to the ‘Weekly Market Wrap’ for Friday, January 09, 2015, due to political uncertainty about Greece along with decline in oil prices weighed on the domestic bourses in the week ended Friday, January 09, 2015. However, indices cut losses in last two trading days of the week. Overall, the market logged declines in three out of five trading sessions in the week just gone by.

The S&P BSE Mid-Cap index fell 104.19 points or 0.99% to settle at 10,426.01. The S&P BSE Small-Cap index fell 109.81 points or 0.97% to settle at 11,198.34.

The S&P BSE Sensex regained the psychological 27,000 level after falling below that level during the week.

In the week ended on, January 09 2015, the 30-share S&P BSE Sensex lost 429.52 points or 1.54% to settle at 27,458.38. while CNX Nifty lost 110.95 points or 1.32% to settle at 8,284.50.

Weekly market trend from January 05 – January 09:

January 05 – Indian shares edged lower on Monday as state-run lenders fell on disappointment over a lack of significant announcements after a two-day banking conclave attended by Prime Minister Narendra Modi, while technology stocks also fell. The S&P BSE Sensex and CNX Nifty ended 0.16%-0.20% lower each. The 30-share Sensex ended lower by 46 points at 27,842 and the 50-share Nifty slipped 17 points to trade at 8,378.

January 06 – Indian shares fell over 3% on Tuesday, marking its biggest daily loss since the rupee crisis in 2013 as emerging markets tumbled, while safe-haven assets such as U.S. Treasuries surged. The S&P BSE Sensex and CNX Nifty ended 3.07%-3.00% lower each. The 30-share Sensex ended down 854.86 points or 3.1% at 26,987.46 and the 50-share Nifty ended down 251.05 points or 3% at 8,127.35.

January 07 – Indian shares fell to their lowest level in nearly three weeks on Wednesday as stocks favoured by overseas investors such as ICICI Bank declined, following heavy foreign sales in derivatives and cash shares in the previous session. The S&P BSE Sensex and CNX Nifty ended 0.29%-0.31% lower each. The 30-share Sensex ended 79 points lower at 26,909 and the 50-share Nifty closed 25 points lower at 8,102.

January 08 – Indian shares rose over 1% on Thursday, rebounding from a near three-week low hit in the previous session, led by gains in companies focused on the domestic economy such as ITC and ICICI Bank on value buying. The S&P BSE Sensex and CNX Nifty ended 1.36%-1.64% higher each. The 30-share Sensex ended up 366 points at 27,275 and the 50-share Nifty ended up 133 points at 8,235.

January 09 – Indian shares edged higher on Friday, heading for a second consecutive session of gains, led by software services exporter, Infosys Ltd, which surged 6 percent after its December-quarter earnings beat estimates. The S&P BSE Sensex and CNX Nifty ended 0.67%-0.61% higher each. The 30-share Sensex ended up 184 points at 27,458 and the 50-share Nifty ended up 50 points at 8,284.50.

Global indices:

Majority of the Global Indices closed in green, barring Nikkei which fell by 1.45%. Topmost Gainers are Shanghai Composite up 1.57%, Dax 100 up 0.75%, Dow Jones up 0.42%, FTSE 100 up 0.34% and Hang Seng up 0.26%.

Sectoral and stock screening:

Majority of the sectors ended in red. Topmost Gainers: S&P BSE FMCG up 0.75% and S&P BSE IT up 0.29%. Topmost losers: S&P BSE Metal down 4.37%, S&P BSE Power down 2.60%, S&P BSE Realty down 2.54%, S&P BSE Bankex down 2.22% and S&P BSE PSU down 2.01%.

Looking at the ‘A’ group stocks, the top three gainers of the week were Pipavav Defence & Offshore Engg Company up 22.20%, Videocon Inds up 19.32% and HUL up 14.19%.

Top three losers: Hathway Cable & Datacom down 81.39%, PMC Fincorp down 22.49% and IRB Infrastructure Developers down 10.94%.

FII/MF activity:

The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs2129 crore and the domestic investors bought Indian shares worth a net of Rs243.5 crore as on January 07, 2015.

Market Outlook for the coming week!

In the coming week, trend in global markets, Q3 results of India Inc, domestic and global macro economic data, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate the trend on the bourses.

On the macro front, industrial production growth is expected to remain muted in November 2014 and consumer price inflation is likely to accelerate in December 2014.
The government will unveil industrial production data for November 2014 after trading hours on Monday, January 12, 2015.
 
The government will release the data on CPI inflation for December 2014 after trading hours on Monday, January 12, 2015.
 
The government will release data on WPI for December 2014 at 12 noon on Wednesday, January 14, 2015.
 
US Secretary of State John Kerry will visit Ahmedabad on Saturday, January 12, 2015 for the seventh annual Vibrant Gujarat Summit during 11th to 13th January 2015, a global investor conference to be inaugurated by Prime Minister Narendra Modi.

Nifty Futures

niftyfutures.org@imediaone.com

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