Sensex Crosses 20K Mark; Results To Support Market Going Ahead

DSIJ Intelligence / 18 Jan 2013

Better than expected earnings particularly from index heavyweights and IT majors Infosys and TCS provided an excellent fillip to the markets during the week. Both the Sensex and the Nifty closed the week nearly 2% up from where it had begun.

Better than expected earnings particularly from index heavyweights and IT majors Infosys and TCS provided an excellent fillip to the markets during the week. Both the Sensex and the Nifty closed the week nearly 2% up from where it had begun. The earnings season that was flagged off by Infosys has been a trend setter with the IT bellwether revising its guidance upwards. The Sensex closed the week above the 20K mark.

Benchmark Indices
Index18-Jan-1311-Jan-13% Change
SENSEX 20039.04 19663.64 1.91
NIFTY 6064.4 5952.8 1.87
Hang Seng 23601.78 23264.07 1.45
Nikkei 10913.3 10801.57 1.03
Shanghai Comp 2317.07 2243 3.30
Dow Jones* 13596.02 13471 0.93
S&P 500* 1480.94 1472 0.61
NASDAQ* 3136 3122 0.45
Bovespa* 62194.06 61678 0.84
FTSE* 6165.85 6102 1.05
DAX* 7732.06 7708 0.31
CAC* 3746.9 3703 1.19
* closing till Thursday
While corporate earnings worked as the launching pad for the markets, the governments’ firm resolve in taking forward reforms gave them the additional thrust. In a latest, the government has allowed Oil Marketing Companies (OMCs) to put into effect small hikes in the price of diesel on their own. On the other hand, the government has also raised the cap on subsided LPG cylinders from the proposed 6 to 9 cylinders a year. Leaving the quantum of hike in prices of diesel to the discretion of the companies is a positive step indeed. This will help tame the bleeding of OMC’s and also control the widening current account deficit. However, this may have a negative impact on the inflationary front, which has started to ease a bit raising hopes of a rate cut.

In the US too, earnings have been god. Morgan Stanley and GE has witnessed better than expected results that has worked as a sentiment booster for the markets there. In China, economic growth accelerated for the first time in two years. A rebound in industrial output, retail sales and the housing market drove gross domestic product 7.9% higher in the fourth quarter from a year earlier. Most European stocks in today’s trade are up taking cues from a buoyant Chinese economy.  The IMF is likely to release its world economic outlook in the next week which will be watched closely.

Currency Rate
Index18-Jan-1311-Jan-13% Change
USD 53.95 54.62 -1.23
EURO 72.21 72.46 -0.35
GBP 86.24 88.21 -2.23
JYP (per 100) 59.91 61.52 -2.62

Key Commodity Indicators
Index18-Jan-1311-Jan-13% Change
Gold 30617 30888 -0.88
Silver 59291 58573 1.23
Crude Oil (Brent) 110.68 111.37 -0.62
Crude Oil (WTI) 95.34 93.8 1.64

WTI Crude oil has witnessed an up move, gaining 1.64% over the last week. Precious metals remained flat over the week. Gold witnessed a drop of 0.88% while Silver went up by 1.23%.

Sectoral Indices
Category/Index18-Jan-1311-Jan-13% Change
Broad
MIDCAP 7165.46 7156.88 0.12
SMLCAP 7370.34 7454.76 -1.13
BSE-100 6131.39 6027.9 1.72
BSE-200 2481.77 2444.41 1.53
BSE-500 7743.27 7641.13 1.34
Sectoral Indices
AUTO 11298.24 11632.73 -2.88
BANKEX 14551.19 14498 0.37
HC 8067.4 8139.87 -0.89
METAL 10780.47 10937.91 -1.44
OIL&GAS 9571.03 8788.06 8.91
IT 6405.62 6252.26 2.45
TECk 3817.38 3712.74 2.82
FMCG 5755.41 5665.28 1.59
REALTY 2310.51 2144.82 7.73
PSU 7861.68 7511.13 4.67
CG 10503.68 10540.65 -0.35
POWER 2001.97 1967.58 1.75
CD 7697.74 7598.08 1.31

In the broader market, indices closed the week on a mixed note. The BSE Midcap closed the week in green gaining 0.12% and the BSE Smallcap index in the red, declining 1.13%. On a sectoral basis, out of the 13 indices, 9 have closed the week in the positive territory.

Among major gainers was the BSE Oil & Gas index which closed the week gaining more than 8.91%. This was mainly led by the reforms process initiated by the government in the sector. It was followed by BSE Realty index (+7.73%) and BSE PSU index (+2.82%). The main draggers this week are the BSE Auto index (-2.88%), followed by the BSE Metal index (-1.44%) and BSE HC Index (-0.89%).

GainersLTP% ChangeLosersLTP% Change
Ranklin Solu8.5942.69Moryo Indus95.25-48.01
Kirl.Fer-War 1.95 33.56 IOL Netcom 2.75 -37.5
Sandesh 364.65 32.58 Arshhiya Tec 48.85 -30.41
VARDHMANINDS 46.2 32 KANCHAN INTL 17 -25.6
VishalMallab 25.59 27.5 PaceElectrnc 2.94 -23.64
Ramsons Proj 18.8 27.46 Centron Indl 122 -22.56
Shree Mfg Co 13 27.45 Monotype(I) 177.4 -22.53
BAMBINOAGROI 90.85 27.42 TuniTextMill 60.7 -22.48
Elpro Pack 16.8 27.37 CubicalFinSe 50.45 -22.44
NimbusInds 11.1 27.29 Indiaco Vent 3.31 -22.3

Money inflows from the FIIs remained strong in the last week. FIIs pumped in Rs 11908 crore in the month of January. The beginning of the year has been an encouraging one. DIIs again remained in the red and in having sold stocks worth Rs 1733 during the week.

Quarterly results will continue to be a major driver for the markets going forward in the next week too. However, the market is also anticipating some positive moves from the RBI in its monetary policy meet to be held on 29th of January.

Institutional Turnover (Rs / Cr)
DateFIIDII
10-Jan-13 282 100
11-Jan-13 776 -21
14-Jan-13 1013 -262
15-Jan-13 1072 -104
16-Jan-13 1106 -
Total 4249 -287

Volumes (Rs/cr)
DateBSENSE
11-Jan-13 2529 14024
14-Jan-13 2280 12703
15-Jan-13 2450 13023
16-Jan-13 2462 12788
17-Jan-13 2504 13643

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