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weekly market report....

Posted on Sunday, 20 January 2013

Major Headlines for the week:

  • WPI for December 2012 comes at 7.18% 
  • CPI for December 2012 comes at 10.56%
  • Wipro Q3 consolidated net up 18%, beats estimate; stk slips 4%
  • RIL Q3 net profit surges 24%
  • TCS Q3 consolidated net profit up 26% 
Indian indices
Welcome to the 'Weekly Market Wrap' for the week ended January 18, 2013:

The Indian markets ended the third trading week of 2013 on a cheerful note. A flurry of good newsflow boosted investor sentiment. The week gone by was the third trading session of 2013. The key benchmark indices touched the two year high level seeing good rally in the markets after the government hiked diesel price, which was seen reducing subsidy burden. Adding further, the government's decision to defer the implementation of the General Anti Avoidance Rules (GAAR), which seeks to tax foreign investors, by two years until April 01, 2016, further added to the rally. The key benchmark indices gained in four out of five trading sessions.

The BSE Sensex shut shop at its highest closing level since January 06, 2011 while the NSE Nifty ended at its highest level since January 05, 2011.

The BSE Mid-Cap index rose 0.12% and the BSE Small-Cap index fell 1.13%. Both these indices underperformed the Sensex.

The BSE Sensex rose 375.40 points or 1.91% to 20,039.04, while NSE Nifty rose 113.10 points or 1.90% to 6,064.40.

Weekly market trend from January 14-January 18, 2013:
  • On January 14, 2013, Key indices ended near day's high as lower than expected inflation figures brought cheer on the streets backed by optimism in IT stocks ahead of TCS Q3 results and also due to the decision taken by government to defer the implementation of GAAR by two years until April 01, 2016. The Sensex ended at 19906.41, up by 242.77 points, while the Nifty shut shop at 6024.05, up by 72.75 points.
  • On January 15, 2013, the markets rose for the second day following gains in European stocks which aided rally on the domestic bourses. The strong note was led by rate cut hopes and buying in software makers after better-than-expected results by TCS. The Sensex ended at 19986.82, up by 80.41 points, while the Nifty shut shop at 6056.60, up by 32.55 points.
  • On January 16, 2013, the Indian stocks lost grounds after gaining for two-straight sessions as weakness was seen in rate sensitive sectors, investors booked profit after the RBI chief reported media saying that inflation was "still quite high", denting hopes of a 50 basis points rate cut this month. The Sensex shed 169.19 points to close at 19817.63 while the Nifty slipped 54.75 points to end at 6001.85.
  • On January 17, 2013, the rise in the markets was led by gains in state-run oil companies after the government allowed them to set diesel prices, despite uncertainty about the specifics of the announcement. Index heavyweight Reliance Industries (RIL) also kept the markets on an upbeat mode ahead of its quarterly earning results. The Sensex surged 146.40 points to close at 19964.03, while the Nifty advanced 37.35 points higher to settle at 6039.20.
  • On January 18, 2013, gains in the market was led by OMCs which surged for second consecutive session after the government's hiked diesel price reducing their subsidy burden. The NSE Nifty hit the 6060 for the first time in 2013 while the BSE Sensex comfortably surpassed 20000 mark. The Sensex closed at 20039.04, up by 75.01 points, while the Nifty rose by 25.20 points to close at 6064.40.
Global indices:
All the global markets closed the week on a positive note baring DAX100 which was down by 0.17%. Shanghai Comp rose by 3.30%, followed by Hang Seng which surged by 1.45%, Dow Jones advanced by 1.20% and Nikkei up by 1.03%.

Sectoral and stock screening:
Among the 13 sectoral indices, top gainers- BSE Oil&Gas up by 8.91%, BSE Realty rose 7.73%, BSE PSU by 4.67%. Top losers: BSE Auto fell by 2.88%, BSE Metal slipped 1.44% and BSE HC was down by 0.89%. 

Looking at the 'A' group stocks, the top three gainers of the week were - Indian Oil Corporation up by 21.99%, Infosys up by 20.23% and BPCL up by 13.92%. The top three losers of the week were - United Breweries fell by 20.07%, Exide Industries fell by 12.20% and Jaiprakash Power Ventures fell by 11.41%. 

FII/MF activity
The foreign institutional investors (FIIs) have been net buyer of the Indian stocks worth a net of Rs3812 crore, while the domestic investors were net sellers of Indian stocks to the tune of Rs581.50 crore till January 17, 2013.

Market Outlook
The next set of Q3 December 2012 results will set the trend for the equity market in the near term.

Results: UltraTech Cement, HDFC, NTPC, Asian Paints, Cairn India, Hindustan Unilever (HUL) and Kotak Mahindra Bank, L&T and Sesa Goa, Maruti Suzuki India.

The Reserve Bank of India (RBI) will undertake the Third Quarter Review of Monetary Policy 2012-13 on 29 January 2013. Reserve Bank of India Governor D. Subbarao's recent comments on high inflation have tempered expectations of an interest rate cut at the central bank's policy meeting on 29 January 2013.

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