Markets Triggered By Global Factors
DSIJ Intelligence / 08 Mar 2013
With the Indian markets taking cues from the global ones this week, the next week will be no different apart from the release of the WPI and IIP numbers.
Taking cues from the global markets, the Indian markets witnessed some smart moves in this week. The Sensex and Nifty closed the week with gains of 4.04% and 3.95% respectively.
| Benchmark Indices | |||
|---|---|---|---|
| Index | 8-Mar-13 | 1-Mar-13 | % Change |
| SENSEX | 19683.2 | 18918.52 | 4.04 |
| NIFTY | 5945.7 | 5719.6 | 3.95 |
| Hang Seng | 23092 | 22880.22 | 0.93 |
| Nikkei | 12283.6 | 11606.38 | 5.84 |
| Shanghai Comp | 2318.61 | 2359.51 | -1.73 |
| Dow Jones* | 14329.5 | 14054.49 | 1.96 |
| S&P 500* | 1544.26 | 1514.68 | 1.95 |
| NASDAQ* | 3232.09 | 3160.19 | 2.28 |
| Bovespa* | 58846.8 | 57424.29 | 2.48 |
| FTSE* | 6463.8 | 6331.39 | 2.09 |
| DAX* | 7984.72 | 7677.58 | 4.00 |
| CAC* | 3830.49 | 3679.37 | 4.11 |
| * closing till Thursday | |||
On the other hand, cement companies raised their prices in the eastern and northern regions of the country even before the budget for FY14 was announced. This hike is likely to impact the bottomline of the cement companies as these are important input costs for the sector. The eastern region has seen a price rise of Rs 40-50 per bag. In the northern region too prices have increased by Rs 25-30 per bag, while that in Maharashtra have increased by Rs 20 per bag. In the southern region, however, the prices have remained firm due to an oversupply situation.
The global economy as a whole has shown a slight decline in growth in the month of February 2013. The JP Morgan Global Manufacturing & Services PMI has hit a four-month low of 53 in the month, down from 53.2 in January 2013. The average reading of 53.1 so far in the first quarter of the calendar year is marginally up against the same in the fourth quarter of the last calendar year at 52.9. In the last two days, the PMI data across various countries has been published, indicating an expansion in Asia, Russia, and the US. The Eurozone has continued to grow at a slow pace.
The European Central Bank (ECB), yesterday, left its benchmark rates unchanged at 0.75%. According to media reports, Mario Draghi, President of ECB said that the eurozone is stabilising and that a gradual recovery should start in the second half of the year. The market participants were expecting a status quo from the ECB President.
| Currency Rate | |||
|---|---|---|---|
| Index | 8-Mar-13 | 1-Mar-13 | % Change |
| USD | 54.40 | 54.48 | -0.14 |
| EURO | 71.24 | 71.27 | -0.05 |
| GBP | 81.57 | 82.72 | -1.39 |
| JYP (per 100) | 57.06 | 58.91 | -3.14 |
| Key Commodity Indicators | |||
|---|---|---|---|
| Index | 8-Mar-13 | 1-Mar-13 | % Change |
| Gold | 29320 | 29506 | -0.63 |
| Silver | 54435 | 52782 | 3.13 |
| Crude Oil (Brent) | 110.54 | 110.63 | -0.08 |
| Crude Oil (WTI) | 91.53 | 91.07 | 0.51 |
West Texas Intermediate oil is headed for its first weekly gain in three weeks. Brent crude’s premium to New York futures narrowed as a North Sea pipeline network resumed five days after it was shut because of a leak. Gold prices remained flat in the week gone by, falling by 0.63% at the bullion market. However, silver witnessed a good move as it gained more than 3% during the last week.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | 8-Mar-13 | 1-Mar-13 | % Change |
| Broad | |||
| MIDCAP | 6487.36 | 6320.95 | 2.63 |
| SMLCAP | 6333.69 | 6195.32 | 2.23 |
| BSE-100 | 5962.08 | 5741.04 | 3.85 |
| BSE-200 | 2401.65 | 2316.83 | 3.66 |
| BSE-500 | 7443.27 | 7188.5 | 3.54 |
| Sectoral Indices | |||
| IT | 7010.98 | 6763.05 | 3.67 |
| TECk | 4021.96 | 3888.49 | 3.43 |
| AUTO | 10867.1 | 10615.61 | 2.37 |
| FMCG | 5764.04 | 5664.26 | 1.76 |
| BANKEX | 13970.4 | 13241.87 | 5.50 |
| HC | 8060.73 | 7819.11 | 3.09 |
| CG | 9829.26 | 9333.33 | 5.31 |
| REALTY | 2074.79 | 1931.4 | 7.42 |
| OIL&GAS | 9021.29 | 8644.57 | 4.36 |
| POWER | 1790.72 | 1757.96 | 1.86 |
| METAL | 9453.1 | 9124.8 | 3.60 |
| PSU | 6994.79 | 6866.07 | 1.87 |
| CD | 7254.3 | 7401.46 | -1.99 |
The broader market closed the week on a positive note. The BSE Mid-Cap gained 2.63%, while the Small-Cap closed the week by gaining 2.23%. On the sectoral basis, 12 out of the 13 indices, have closed in the positive territory this week. The main gainer is the BSE Realty Index that closed with a gain of 7.42%. It is followed by the BSE Bankex index (+5.50%) and BSE Capital Goods index (+5.31%). The only dragger for the markets this week was the BSE Consumer Durables index that declined by 1.99%.
Money inflows from the FIIs remained strong in the last week. The FIIs pumped in Rs 1991 crore in equities last week, while the DIIs ended the week in red, selling off equities worth Rs 139 last week. We expect the markets to remain volatile in the next week, with important data like the IIP and the WPI coming in. However, it will still be the global markets driving the Indian ones.
| Institutional Turnover (Rs / Cr) | ||
|---|---|---|
| Date | FII | DII |
| 28-Feb-13 | 1275 | 470 |
| 1-Mar-13 | 915 | -59 |
| 4-Mar-13 | 121 | -52 |
| 5-Mar-13 | 304 | -28 |
| 6-Mar-13 | 651 | - |
| Total | 3266 | 331 |
| Volumes (Rs/cr) | ||
|---|---|---|
| Date | BSE | NSE |
| 1-Mar-13 | 2045 | 12143 |
| 4-Mar-13 | 1797 | 10392 |
| 5-Mar-13 | 1788 | 10833 |
| 6-Mar-13 | 1960 | 11272 |
| 7-Mar-13 | 1931 | 10180 |
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