Stocks
Nifty, Sensex headed lower – Monday closing report
Only a close above 8,550 can put Nifty back on the uptrend
 
We had mentioned in Friday’s closing report that the Indian indices were moving sideways, while the market struggled to gain the momentum for a rally. In Monday’s trading too, the major indices in the Indian stock market made marginal losses at the end of the day with no significant highs during the day. While both the benchmarks, NSE’s CNX Nifty and S&P BSE Sensex ended the day marginally down, a close above 8,550 can put the 50-stock Nifty back on the uptrend. 
 
 
Sentiments turned bearish on the eve of the release of key economic data points, leading to a barometer index of the Indian equity markets closing flat on Monday.
 
The 30-scrip S&P BSE Sensex around 135 points or 0.50%. The wider 50-scrip NSE CNX Nifty also ended the day's trade in the red. It edged lower by 39 points or 0.46% at 8,525.60 points.
 
The S&P BSE Sensex, which opened at 28,250.78 points, closed at 28,101.72 points -- down 134.67 points or 0.48% from the previous day's close at 28,236.39 points.
 
Analysts observed that the equity markets had made initial gains on the back of data, which showed a slowdown in the US jobs growth in July. This data is expected to deter the US Federal Reserve from raising interest rates in September or to wait until December. 
 
With higher interest rates in the US, the FPIs (Foreign Portfolio Investors) are expected to be led away from emerging markets such as India.
 
The US economy added 215,000 new jobs last month. In June, the employment figures went up by 231,000, while during May the figure stood at 260,000.
 
However, the initial gains in Indian markets were soon wiped-out, as investors became anxious over the upcoming key economic data points of Consumer Price Inflation (CPI) and Index of Industrial Production (IIP). 
 
Analysts added that the markets were upset over the logjam in the Parliament. The monsoon session of the Parliament ends on 13th August with fate of key legislations like the GST (goods and services) or the Land bill hanging in the balance.
Sector-wise, all 12 sub-indices of the S&P BSE except the realty index ended in the red.
 
The S&P BSE capital goods index decreased by 118.87 points, followed by consumer durables index which receded by 104.76 points, oil and gas index declined by 93.69 points, metal index edged-lower by 90 points and fast moving consumer goods (FMCG) index fell by 53.61 points.
 
However, the S&P BSE realty index edged higher by 11.87 points.
 
The top gainers and losers of major indices in the stock markets are given in the table below:
 
 
The closing values of major Asian indices are given in the table below:
 
 
Among European indices, FTSE 100 was at 6,665.16, down 0.79% and DAX was at 11,533.86, up 0.38%. Athex Composite Share Price Index was at 686.17, up 1.45%.
 

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Nifty, Sensex may be headed lower: Weekly closing report
A fall below 8,400 would lead to a decline 
 
We had mentioned in last week’s closing report that Nifty, Sensex were headed higher and that Nifty has to close above 8,460 for the uptrend to continue. The 50-scrip Nifty had closed the previous week at 8,532.85. For Friday, the losses have been marginal and for the week, as a whole, the market has ended flat. The indices are moving sideways, while the market struggles to gain the momentum for a rally.
 
 
On Monday, the Nifty moved in the green for almost the entire session and dipped in the end, recording marginal gains. Last week's announcement of Rs70,000 crore infusion into public sector banks (PSBs) in the next four years continued to boost banking stocks. According to analysts, domestic markets remained positive on the back of a surge in banking and auto stocks ahead of the RBI's (Reserve Bank of India) monetary policy review on Tuesday. The markets’ rise was arrested by the higher levels of profit booking which trimmed some of the early gains due to weak Greece and Chinese stock markets, cited analysts.
 
On Tuesday, the RBI, in its third monetary policy review, kept the repurchase rate, or its short-term lending rate, unchanged at 7.25%. Accordingly, the reverse repo rate, or the short-term borrowing rate, was unchanged at 6.25%. The cash reserve ratio (CRR), or the liquid money banks have to compulsorily hold, stood unchanged at 4%. The decision to maintain the status-quo disappointed investors, as a general consensus had appeared that showed that the current review might be the last chance that RBI had to cut rates in this calendar year. Markets are doubtful over the RBI's ability for a future easing of the monetary policy in the hindsight that inflation might spiral up again and the US Fed's decision on its own rates is coming up in September.
 
On Tuesday, the 50-stock index opened marginally higher but made a quick move into the negative. It stayed in the red for almost the entire session. The Nifty broke the 8,500 support but recovered and closed marginally in the red.
 
For the entire session Wednesday, the 50-stock benchmark remained above the previous day’s close albeit moving in a narrow range. According to analysts, bargain hunting was observed in the market after Tuesday's fall. RBI's announcements of changing the cap on bond investment limit from being dollar-linked to rupee-denominated, segregation of the bond market and its engagements with the government over the new financial code also boosted the markets, they said. Sector wise, healthy buying was observed in healthcare, automobile, information technology (IT), fast moving consumer goods (FMCG) and capital goods sectors. However, the banking, consumer durables and metal sectors came under selling pressure.
 
On Thursday, the major indices in the Indian stock markets were range-bound and made marginal gains during the day’s trading. According to analysts, Indian markets opened positively tracking the SGX Nifty and Wednesday's data which showed healthy growth in services PMI (purchasing managers' index). Sentiment was also helped by upbeat economic data from China. Markets gained due to the positive response to the RBI governor's comments on the economy. Positive sentiments surrounding Cognizant’s quarterly results supported the rally across information technology stocks.
 
On Friday, the market failed to gain momentum for a rally, and the indices closed marginally in the red. A logjam in parliament, impending US rate hike decision and other negative global cues led to the close in the red. Sector-wise, healthy buying was observed in oil and gas, automobile and consumer durables stocks. However, banking, capital goods and healthcare sectors came under selling pressure. 
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 

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Nifty, Sensex struggling to rally - Thursday closing report
Nifty will remain in an uptrend, as long as, it is above 8,545
 
We had mentioned in Wednesday’s closing report that the Nifty will remain in an uptrend as long as it closes above 8,500. The major indices in the Indian stock markets were range-bound and made marginal gains during the day’s trading. 
 
 
The top gainers and losers in major indices are given in the table below:
 
 
 
A day after it gained over 150 points, a benchmark index of the Indian equity markets closed in the green and inched up to a nearly two-week high on Thursday.
 
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) closed the day's trade 75 points up at more than 28,220 points.
 
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in the positive territory. It was up 20.70 points or 0.24 percent at 8,588.65 points.
 
The S&P BSE Sensex, which opened at 28,291.88 points, closed at 28,298.13 points, up 75.05 points or 0.27 percent from the previous day's close at 28,223.08 points.
 
The Sensex touched a high of 28,359.96 points and a low of 28,163.69 points in the intra-day trade.
 
According to analysts, Indian markets opened positively tracking the SGX Nifty and Wednesday's data which showed healthy growth in services PMI (purchasing managers' index). Sentiment was also helped by upbeat economic data from China.
 
Markets gained due to the positive response to the Reserve Bank of India (RBI) governor's comments on the economy. Positive sentiments surrounding Cognizant’s quarterly results supported the rally across information technology (IT) stocks. 
 
The FIIs were net buyers in the cash market segment on Wednesday. They bought shares worth Rs.447.90 crore.
 
Sector-wise, healthy buying was observed in capital goods, consumer durables, healthcare, banking and automobile stocks. However, fast moving consumer goods (FMCG), metal and oil and gas sectors came under selling pressure.
 
The S&P BSE capital goods index zoomed by 306.14 points, followed by consumer durables index which augmented by 213.21 points, healthcare index gained 198.56 points, banking index edged higher by 120.30 points and automobile index rose by 110.80 points.
 
The S&P BSE FMCG index receded by 93.05 points, metal index fell by 48.51 points and the oil and gas index was lower by 25.29 points.
 
Major Sensex gainers during Thursday's trade were Larsen and Toubro (L&T), up 2.74 percent at Rs.1,827.30; Dr.Reddy, up 1.79 percent at Rs.4,270.10; Tata Motors, up 1.63 percent at Rs.382.90; Lupin, up 1.37 percent at Rs.1,703.15; and
Tata Consultancy Services (TCS), up 1.28 percent at Rs.2,574.30.
 
The major Sensex losers were: ITC, down 1.70 percent at Rs.326.05; Coal India, down 1.59 percent at Rs.431.10, Reliance Industries, down 0.84 percent at Rs.979.40; Vedanta, down 0.78 percent at Rs.126.90; and NTPC, down 0.62 percent at Rs.135.65.
 
Among the Asian markets, Japan's Nikkei was up 0.24 percent, while Hong Kong's Hang Seng declined by 0.57 percent. China's Shanghai Composite Index also was lower by 0.88 percent. 
 
In Europe,  the London FTSE 100 index inched up by 0.09 percent. Germany's DAX Index and French CAC 40 also gained 0.20 percent and 0.37 percent, respectively, at the closing bell here.
 
The closing values of major indices in the Asian stock markets are given in the table below:
 
 
 
Among European indices, FTSE 100 was at 6,736.28, down 0.24% and the DAX was at 11,644.23, up 0.07%. Athex Composite Share Price Index was at 666.63, up 3.64%.
 

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