 Major Headlines for the
week:
Indian
indices
The Indian markets chose to be in a consolidation mode this week and traded
in a tight range. The markets witnessed lackluster trading sessions with no
major movements for the week ended November 2, 2012. There were no great
triggers that could lift the markets higher, which led the key indices to
trade in a narrow range. This was the forty fourth trading week of 2012 for
the Indian markets which closed with marginal gains after last week's drop.
The gains were restricted as investors were worried about the impact of
Hurricane Sandy in the US. The reshuffling of the cabinet which happened on
Sunday (October 28, 2012) helped the market to trade in the green
territory. Key benchmark indices gained in 4 out of five trading sessions.
The BSE Mid-Cap index rose 0.64%. The BSE Small Cap index fell 0.31%. Both
these indices underperformed the Sensex. The BSE Sensex rose 130.11 points
or 0.70% to 18,755.45 while NSE Nifty rose 33.40 points or 0.59% to settle
at 5,697.70.
Major Events
·
The Reserve Bank of India left the key
interest rates unchanged but reduced cash reserve ratio by 0.25% to infuse
additional liquidity that will inject Rs17,500 crore into the financial
system. Accordingly, the CRR or the portion of deposits banks have to park
with the RBI now stands at 4.25% while the repo rate, at which RBI lends to
the system, has been retained at 8%. The reverse repo, at which RBI absorbs
excess liquidity through borrowings from banks, remains at 7%.
·
The HSBC manufacturing purchasing managers'
index (PMI), which gauges the business activity of India's factories but
not its utilities, nudged up to 52.9 in October from 52.8 in September.
India's manufacturing growth inched up in October from September's 10-month
low.
·
The government said that, it will continue
efforts to restrict fiscal deficit in the current financial year to 5.3% of
the Gross Domestic Product (GDP) and reduce it to 3% by 2016-17. The fiscal
deficit was 5.8% in 2011-12.
Weekly
market trend from October 29 - November 02, 2012
·
The Key benchmark indices eked out with
marginal gains in choppy trade on Monday, (October 29, 2012), as the
Finance Minister P. Chidambaram announced a plan of fiscal consolidation
during the period of the 12th Plan, i.e. from 2012-13 to 2016-17. The
Sensex closed at 18,635.85, up by 10.48 points while the Nifty rose by 1.30
points to close at 5,665.60.
·
The Indian markets declined on Tuesday,
(October 30, 2012), as the RBI kept its repo rate unchanged owing to raised
inflation forecast concern for FY13 to 7.5% from 7% earlier and reduced GDP
projection to 5.8% for FY13 from 6.5% earlier. The Sensex closed at
18430.85, down by 204.97 points and the Nifty fell 67.70 points to close at
5597.90.
·
Key benchmark indices edged higher on
Wednesday, (October 31, 2012), Indian indices opened session on a flat note
tracking mixed Asian cues and selling pressure across the market the
positive opening of the European indices helped the market to remain in
green territory. The BSE Sensex ended at 18505.38 up by 74.53 points and
the NSE Nifty ended at 5619.70 up by 21.80 points.
·
Key benchmark indices rose on Thursday,
(November 01, 2012), on the first trading session of November month. The
Indian markets traded higher led by rally in the auto stocks on
higher-than-expected October vehicle sales. The BSE Sensex ended at
18561.70 up by 56.32 points and the NSE Nifty ended at 5645.05 up by 25.35
points.
·
Key benchmark indices jumped on Friday,
(November 02, 2012), as rally on the Dalal Street was bolstered by strong
buying across the board, which pushed the Sensex above the 18,750  mark and the Nifty above 5,700.
The BSE Sensex ended at 18755.45 up by 193.75 points and the NSE Nifty
settled at 5697.70 up by 52.65 points.
Global
indices
All the global markets closed on a positive note baring Nasdaq which
slipped by 0.19% and Dow Jones which fell by 0.11%. Top gainers: Hang Seng
up by 2.63%, Shanghai Composite surged by 2.46%, DAX100 rose by 1.83%,
CAC40 up by 1.67%, Nikkei up by 1.32% and FTSE100 up by 1.06%.
 Sectoral and stock
screening
Among 13 sectoral indices, eight closed the week on a positive note and
remaining five closed in negative note. Top Losers: BSE Oil & Gas down
by 1.89%, BSE HC fell by 0.70%, BSE Realty slipped by 0.42%. The top
gainers were BSE Bankex up by 5.08%, BSE CG rose by 3.90% and BSE IT surged
by 3.16%.
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Looking
at the 'A' group stocks, the top three gainers of the week were TTK
Prestige which was up by 8.85%, Titan Industries up 8.75% and Wipro up by
8.57%. The top three losers of the week were Gujarat Fluorochemicals down
by 6.69%, Bharat Electronics down by 6.57% and Bharat Forge down by 6.55%.
FII/MF activity
The foreign institutional investors (FIIs) have been net buyers of the
Indian stocks worth a net of Rs503.7 crore, while the domestic investors
were net sellers of Indian stocks to the tune of Rs237.8 crore during the
week till November 01, 2012.
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TTK Prestige
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3,400.20
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8.85
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Titan Industries
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288.45
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8.75
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Gujarat
Fluorochemicals
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332.15
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-6.69
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Bharat
Forge
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269.20
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-6.55
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Gross
purchase
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7,325
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1,604
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Data as on November 01, 2012
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