SNAPSHOT
For the week ended 15 April 2011, the BSE-Sensex declined by 64.63 points or 0.33% to 19,386.82. The BSE Mid-cap index increased 35.67 points or 0.50% to 7209.17 and the Small-cap index advanced 35.61 points or 0.41% to 8,808.16.On the sectoral front, FMCG zoomed 76.31 points or 2.10% to 3,713.73, Capital Goods (CG) soared 237.52 points or 1.73% to 13,979.29, Bankex surged 83.79 points or 2.80% to 13,382.96, Auto jumped 41.95 points or 0.45% to 9,439.08 and Healthcare (HC) up by 18.53 points or 0.31% to 6,142.02, were the top gainers on the BSE. On the flip side, IT was down by 299.41 points or 4.57% to 6,258.54, TECk was down by 119.75 points, or 3.09% to 3,751.26, Realty was down by 54 points or 2.19% to 2,410.15, Metal was down by 125.88 points or 0.76% to 16,381.24 and Consumer Durables (CD) down by 45.86 points or 0.71% to 6,381.24 were the top loser on the index. The S&P CNX Nifty lost 17.45 points or 0.30% to 5,825. On the National Stock Exchange (NSE), CNX IT tumbled 4.56% to 6,842.15 while CNX mid-cap gained 0.36% to 8,317.85, Bank Nifty gained 0.53% to 11,735.65 and CNX Nifty Junior advanced 0.54% to 11606.20.
WEEK GONE BY
After minutely escaping from dipping into the red terrain in the previous week, the frontline indices slipped into the negative territory this time around, though marginally, as the triple 'I's viz. IIP numbers which merely grew at a pace of 3.6%, Inflation stood at 8.98% in March against 8.31% in Feb 2011 and Interest Rates, continued to haunt the domestic benchmarks for quite some time now, quadrupled with Infosys being the latest addition to the list. The psychological 5,800 and 19,400 levels proved to be a strong supports for the BSE' Sensex and the NSE Nifty as they consolidated around these levels for yet another week and looked in no mood to give away the substantial gains accumulated two weeks ago. The over 3% laceration in international crude oil prices which were trading around two and half year high levels, on the back of apprehensions of sluggish demand and slow economic recovery, too eased investor concerns. However the bourses, after another one-day break, took a nasty blow of around one and half a percent on the back of dreadful local leads. The flavor of a hectic earning season turned bitter right from the very start and the frontline indices took a blow after IT bellwether Infosys reported below expectation quarterly earnings and gave even lower than expected EPS guidance for FY12.
WEEK AHEAD
After having an imperative numbers of economic data last week the next big aspect that will be driving the Indian equity markets will be other corporate quarterly reports as earnings season shifts into high gear in the coming week. Companies like HDFC Bank, IFCI, IndusInd Bank, Magma Fincorp and Persistent Systems will be reporting their numbers in the week. Since there will be no major economic data up for release in the coming week the investor's will continue to watch the crude oil prices and Foreign fund inflows for cues since these two factors have been dictating the market's movements from quite some time now. Meanwhile, the Government of India in the coming week will take up 46 foreign investment (FDI) proposals. From the global markets investors will be eying lots of major economic data from the US, starting with Housing Starts data on April 19, followed by Existing Home Sales, Jobless Claims and finally the Philadelphia Fed Survey data on Thursday, April 21, 2011. For the coming week 5720 followed by 5605 are likely to be good support levels for the Nifty, while the index may face some resistance at 5950 and 6070 levels.HAPPY TRADING….
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