Markets Manage To End The Week On Positive Note Despite Weak Economic Scenario
DSIJ Intelligence / 11 Feb 2012
With India’s trade deficit widening, advance GDP numbers falling sharply to 6.9 per cent and Dec IIP numbers coming far below expectations at 1.8 per cent the markets used this opportunity to book some profits.
Despite a muted and subdued set of domestic economic data this week, the markets have managed to stay in the positive zone. With India’s trade deficit widening, advance GDP numbers falling sharply to 6.9 per cent and Dec IIP numbers coming far below expectations at 1.8 per cent the markets used this opportunity to book some profits.
| Benchmark Indices | |||
|---|---|---|---|
| Index | 3-Feb-12 | 10-Feb-12 | % Change |
| SENSEX | 17604.96 | 17748.69 | 0.82 |
| NIFTY | 5325.85 | 5381.60 | 1.05 |
| Hang Seng | 20756.98 | 20783.86 | 0.13 |
| Nikkei | 8831.93 | 8947.17 | 1.30 |
| Shanghai | 2330.40 | 2351.98 | 0.93 |
| Dow Jones* | 12705.40 | 12801.23 | 0.75 |
| S&P 500* | 1325.54 | 1342.64 | 1.29 |
| NASDAQ* | 2859.68 | 2903.88 | 1.55 |
| Bovespa* | 64593.10 | 63997.90 | -0.92 |
| FTSE* | 5796.07 | 5852.39 | 0.97 |
| DAX* | 6655.63 | 6692.96 | 0.56 |
| CAC* | 3376.66 | 3373.14 | -0.10 |
The corporate earning announcement’s for Q3 also failed to lift sentiments. SENSEX majors like HUL, Tata Steel, Bharti Airtel and ONGC disappointed the street with their December quarter results.
On the global front, the mood seemed very gloomy and uncertain as Europe continued to struggle with its attempts to restructure its debt woes after international Monetary Fund (IMF) indicated that a hard-won Greek deal on spending cuts and wage cuts did not go far enough.
| Currency Rate | |||
|---|---|---|---|
| Index | 3-Feb-12 | 10-Feb-12 | % Change |
| USD | 48.67 | 49.64 | 2.00 |
| EURO | 64.15 | 65.80 | 2.57 |
| GBP | 77.50 | 78.35 | 1.10 |
| JYP (per 100) | 64.17 | 63.94 | -0.36 |
Moving on the rupee seems have lost some strength this week as it depreciated by 2 per cent to Rs 49.64 per dollar. FII net investments in equity now stand at Rs 3398 crore for week ended 10th Feb 2012.
| Key Global Indicators | |||
|---|---|---|---|
| Index | 3-Feb-12 | 10-Feb-12 | % Change |
| Gold | 28081 | 28254 | 0.62 |
| Silver | 57013 | 56908 | -0.18 |
| Crude Oil (Brent) | 112.43 | 117.61 | 4.61 |
| Crude Oil (Nymex) | 97.03 | 99.05 | 2.08 |
Among the sectoral indices, Realty sector was amongst the top gainers for the week, notching up nearly 5 per cent gains. CD and Metal companies came in next. Almost all sectors except for Healthcare were in the positive zone. The Healthcare sector was down by 1 per cent for the week.
| Sectorial Indices | |||
|---|---|---|---|
| Category/Index | 3-Feb-12 | 10-Feb-12 | Change (%) |
| Broad | |||
| MIDCAP | 6,046.10 | 6,246.61 | 3.32 |
| SMLCAP | 6,686.55 | 6,890.85 | 3.06 |
| BSE-100 | 9,185.35 | 9,304.31 | 1.30 |
| BSE-200 | 2,150.96 | 2,181.79 | 1.43 |
| BSE-500 | 6,717.47 | 6,825.15 | 1.60 |
| Sectors | |||
| REALTY | 1,784.17 | 1,887.49 | 5.79 |
| CD | 5,832.41 | 6,168.83 | 5.77 |
| METAL | 11,874.99 | 12,364.36 | 4.12 |
| BANKEX | 11,643.84 | 11,986.92 | 2.95 |
| PSU | 7,485.77 | 7,672.83 | 2.50 |
| IT | 5,912.40 | 6,050.22 | 2.33 |
| AUTO | 9,523.22 | 9,713.36 | 2.00 |
| OIL&GAS | 8,689.19 | 8,770.65 | 0.94 |
| POWER | 2,161.35 | 2,177.33 | 0.74 |
| CG | 10,259.55 | 10,293.52 | 0.33 |
| TECk | 3,569.28 | 3,580.95 | 0.33 |
| FMCG | 4,120.75 | 4,130.91 | 0.25 |
| HC | 6,411.72 | 6,347.10 | -1.01 |
Among the individual stocks, TTK Prestige was the topmost gainer, rallying by a hefty 39 per cent this week as the company posted better than expected Q3 numbers. Realty stocks like HDIL and Unitech were also among the top gainers. Jet Airways was amongst the list for a second consecutive week as an empowered group of ministers passed the decision to allow direct import of jet fuel by airline companies to help them reduce their financial woes.
| Top Gainers | ||
|---|---|---|
| Scrip | CMP | % Change (WoW) |
| TTK Presti | 3208.90 | 38.95 |
| IFCI | 38.90 | 27.54 |
| HDIL | 96.45 | 17.98 |
| Central Ba | 100.90 | 17.19 |
| JSW Energy | 63.35 | 16.45 |
| Jet Airway | 325.25 | 16.29 |
| JSW Steel | 816.65 | 15.24 |
| IOB | 101.10 | 14.89 |
| MOTHRSNSUM | 177.80 | 13.32 |
| UNITECH | 29.35 | 12.88 |
Among to losers, Manappuram Finance topped the list as the company has entangled itself in some latest corporate governance related issue with the RBI. SENSEX major Bharti Airtel was also among the top losers.
| Top Losers | ||
|---|---|---|
| Scrip | CMP | % Change (WoW) |
| MANAPRMGNF | 47.15 | -19.88 |
| Muthoot Fi | 159.70 | -11.79 |
| Adani Powe | 72.20 | -10.25 |
| Bharti Air | 349.90 | -9.96 |
| Thermax | 473.60 | -9.33 |
| AurobndoPh | 110.65 | -8.06 |
| Adani Ente | 393.95 | -7.60 |
| Indrapra G | 339.65 | -6.06 |
| United Spi | 669.90 | -5.90 |
| Sintex Ind | 92.60 | -5.61 |
In conclusion, we expect the major part of the month of Feb to be volatile as markets build up to the Budget 2012-13. We urge investors to continue booking profits on investments that have yielded significant gains over these past few weeks. Global factors are also very jittery as there seems to be no clarity on EU efforts to resolve its woes. The pressure is not only being faced by India Inc. but also by the govt. where in recent time Finance Minister Pranab Mukherjee was quoted saying that a rising subsidy bill has been making him lose his sleep. Keeping all this in mind we recommend readers to book profits and keep cash in hand to buy again at cheaper prices.
| Institutional Turnover | ||
|---|---|---|
| Date | FII | DII |
| 06-Feb-12 | 998 | -183 |
| 07-Feb-12 | 619 | -854 |
| 08-Feb-12 | 384 | -424 |
| 09-Feb-12 | 1201 | -1038 |
| 10-Feb-12 | 196 | -49 |
| Total | 3398 | -2548 |
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