Markets Witness Flat Weekly Close; Global Developments To Be Watched

DSIJ Intelligence / 21 Dec 2012

The functioning of the parliament remained  a primary trigger for the markets during the week. The Sensex and the Nifty remained range bound for most part of the week and ended the week down 0.39% and 0.54% respectively.

The markets saw a lot of action this week. The parliament passed many bills which were pending for quite some time now. The functioning of the parliament remained  a primary trigger for the markets during the week. The Sensex and the Nifty remained range bound for most part of the week and ended the week down 0.39% and 0.54% respectively. The second most important trigger for the markets during the week was the RBI policy meet. Its actions however were priced in early on by the markets with nothing concrete on the interest rate front expected to happen. The last and the most important of the events that was awaited were the results of the assembly elections in Gujarat and Himachal Pradesh. These too were fairly on expected lines and didn’t actually throw up any unusual response.

Benchmark Indices
Index21-Dec-1214-Dec-12% Change
SENSEX 19242 19317.25 -0.39
NIFTY 5847.7 5879.6 -0.54
Hang Seng 22506.29 22605.98 -0.44
Nikkei 9940.06 9737.56 2.08
Shanghai 2153.31 2150.63 0.12
Dow Jones* 13311.72 13170.72 1.07
S&P 500* 1443.69 1419.45 1.71
NASDAQ* 3050.39 2992.16 1.95
Bovespa* 61276.12 57656 6.28
FTSE* 5920.27 5924.53 -0.07
DAX* 7629.58 7601.47 0.37
CAC* 3649.85 3638.21 0.32
* closing till Thursday
On the global front, the concerns over the so called ‘Fiscal Cliff’ in the US continue to play a spoilsport. On Thursday, Plan B of taxing people earning more than USD 1 million a year was cancelled by Republicans in the house as they did not have the required support. In a latest development, on the European front, Britain’s economy expanded less than previously estimated in the third quarter and the budget deficit unexpectedly widened in November. The Gross Domestic Product rose 0.9% from the second quarter, down from a previous estimate of 1%. On the Asian front, although indices have managed to close the week in the green, there is some caution that investors have exercised after the new development in the US as mentioned earlier.

Key Commodity Indicators
Index21-Dec-1214-Dec-12% Change
Gold 30646 31206 -1.79
Silver 57705 61770 -6.58
Crude Oil (Brent) 109.49 108.77 0.66
Crude Oil (WTI) 89.04 86.73 2.66

Currency Rate
Index21-Dec-1214-Dec-12% Change
USD 55.09 54.39 1.28
EURO 72.77 71.29 2.08
GBP 89.54 87.78 2.00
JYP (per 100) 65.50 64.86 0.99

Sectoral Indices
Category/Index21-Dec-1214-Dec-12% Change
Broad
MIDCAP 6997.72 6999.05 -0.02
SMLCAP 7325.51 7353.72 -0.38
BSE-100 5908.41 5926.31 -0.30
BSE-200 2395.72 2402.21 -0.27
BSE-500 7492.41 7512.04 -0.26
Sectoral Indices
AUTO 11252.9 11162.4 0.81
BANKEX 14151.18 14264.8 -0.80
HC 8059.61 7982.23 0.97
METAL 11039.17 10569.9 4.44
OIL&GAS 8339.71 8443.49 -1.23
IT 5623.71 5590.12 0.60
TECk 3378.87 3364.96 0.41
FMCG 5924.29 5975.6 -0.86
REALTY 2048.55 2067.24 -0.90
PSU 7186.81 7157.67 0.41
CG 10735.11 10948.58 -1.95
POWER 1948.92 1954.76 -0.30
CD 7626.13 7765.72 -1.80

All broader market indices have closed the week on a negative note. On the sectoral basis, out of the 13 indices, 7 have closed in the red. This weeks major gainer was the BSE Metal index which closed up more than 4%. It was followed by the BSE Healthcare Index (+0.97%) and the BSE Auto index (+0.81%). The BSE Capital Goods index which closed the week declining by around 2% was the worst performer. The others that dragged the market were the BSE Consumer Durables index (-1.80%) and the BSE Oil & Gas index (-1.23%).

GainersLTPChange. (%)LosersLTPChange. (%)
POLAR INDS5.6571.21AVAYA GLOBAL193.2-51.61
GANESH HSNG 123.2 49.24 GTL INFRA 3.9 -30.35
SOUTHNISPAT 6.4 47.12 TAKSHEEL SOL 9.9 -20.48
TVS ELECTRON 22.55 43.63 INFODRIVSOFT 6.6 -17.5
LA OPALA RG 273.4 28.14 BILPOWER 14.9 -16.75
LOGIXMICROSY 23.05 28.05 MIDDAYMULTIM 4.65 -14.67
NITESH ESTAT 18.65 27.3 KINGFISH.AIR 15.4 -13.23
SUJANA UNIV 2.1 27.27 BIRLA POWER 0.35 -12.5
NRC 4.95 25.31 FCS SOFTWARE 0.35 -12.5
BL KASHYAP 12.95 25.12 LCC INFOTECH 0.35 -12.5

FIIs remained strong investors in equities last week. FIIs pumped in a net of Rs 5829 crore during the week in equities taking the total to Rs 121161 crore for the present calendar year. DIIs ended the week in the red selling off equities worth Rs 747 crore in the last week.

Crude witnessed some up-move in the last week while precious metals witnessed a decline. Gold declined by 1.79% and Silver declined by 6.58%. Gold went down the 31K mark and has performed very badly in the last six months. Going forward, it will be more of the global factors rather than the domestic factors which will drive the markets. Any positive development on the US Fiscal Cliff front will certainly invoke positive vibes in the markets. Time to buy equities? Let’s hope for the best as a new week opens to close the year on Monday.

Institutional Turnover (Rs / Cr)
DateFIIDII
13-Dec-12 1318 -334
14-Dec-12 626 -20
17-Dec-12 949 -280
18-Dec-12 1369 -113
19-Dec-12 1567 NA
Total 5829 -747

Volumes (Rs.cr)
DateBSENSE
14-Dec-12 2425 11385
17-Dec-12 2466 11071
18-Dec-12 3066 13976
19-Dec-12 2519 14125
20-Dec-12 2437 11925

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