Nifty, Sensex still on an uptrend

Nifty is on an uptrend which will be threatened only if it breaks 6,150

For the second week the indices finished positive. There are not too many sellers which is why the price is drifting higher. However, bulls lack conviction too. Even on Thursday, when many were expecting markets to finish strong on the back of possible BJP sweep in four key states, the markets gave up significant gains as the day progressed. Friday’s mildly positive session underscores an otherwise indifferent week. The BSE Sensex finished the week at 20,996, up 204 points, or 1%. The NSE Nifty finished at 6,259, up 83 points, or 1%. 


On Monday, Nifty and Sensex opened marginally up on positive cues like better GDP data, improved PMI figures in Europe and China and end to the sugar industry impasse. But later during the day, gains were given up. The HSBC survey showed Indian manufacturing returned to growth last month as a strong rise in orders pushed factories to step up production.


The markets traded weak on Tuesday, and trended down throughout the day because of positive manufacturing data from US released on Monday that strengthened case for tapering. Also, Crisil had forecasted Indian current account deficit would widen by FY14, even though it has been reducing (thanks to restraint in imports and a strong rupee).


Losses from Tuesday extended into Wednesday especially on the news that the information technology sector, despite weak rupee, is having difficulty in hiring people with Reuters saying that hiring is on “ice”. Thursday was off to a spectacular start as possible BJP sweep in four key states filtered in. However, much of the gains were given away when the markets closed at the end of the day. Market breadth was uninspiring, with advance-decline ratio nearly one. The rupee hit a 5-month high while the 10-year government bond yield remained largely flat. All global markets were also rolling over.


On Friday, stock markets ended went down after a relatively strong first hour, and finished where it started. This is the fourth straight day that the markets saw initial gains erode through the trading session.

Among the other indices on the NSE, the top two indices were CNX Banks (5%) and CNX PSU (4%) while the top two losers were CNX FMCG (-3%) and CNX MNC (-1%).


Among the Nifty stocks, the top five gainers were Tata Power (12%); Axis Bank (11%); PNB (10%); Jindal Steel (10%) and BHEL (10%), while the top five losers were Hindustan Unilever (-6%); ITC (-3%); Dr Reddy (-2%); Tata Motors(-2%) and Hindalco (-2%).


Top ML sectors


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Consumer Products




Oil & Gas


Infrastructure - EPC


Non-Ferrous Metals




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Suiketu Shah

3 years ago

If Modi gets 4/4 Sunday,Sensex shd rise quite a bit Monday


3 years ago

The capex biggies like L&T and BHEL have substantially appreciated in the recent past with investors wealth being increased by 30% to 50% in short time.
Praj Industries another quality share in this category,have been showing continued higher tops and higher bottoms. Volume increase also shows investor interest multiplied exponentially.
Appears soon this can cross the 52 week high , the momentum shows this can possible happen in next couple of weeks.

But this is a volatile share and if you are trading stoploss is a must, if for investing one can start accumulations when there are small and shallow corrections happen.
Sugar price plummeting globally could be bad news for sugar producers, however Ethanol plant producer like Praj industries will show high performance and export also will be really handsome and another plus point for this company the darling of some of the bulls, due to US$ being 15% higher than last year Q3 ( oct to December quarter), can also bring in large benefits to the bottom line. The exports also will be at its peak during this quarter as This quarter is the year end for most of the western countries to which Praj industries exports their ethanol plants.
Hence Investors should surely hold this share after investing till the quarter results will get announced sometime during end of Jan 2014.
It also appears to be a Multibagger for the year 2014 having heavily corrected in the last 2-3 years. This also is a consistent dividend paying company and Dividend yield also is close to 4%

Nifty, Sensex shoot up but upside limited: Thursday closing report

After declining for two days, the stock markets shot up on expectations of BJP’s victory in Assembly elections but the upside for the index is limited

On Wednesday, we suggested that while the index has given up some gains, the uptrend is not under threat. On Thursday, the stock markets were upbeat with BSE Sensex rallying over 21,000, mainly on political news of a likely clear mandate for BJP in three out of the five assembly elections. However, while the indices looked strong, it gave a substantial part of the gain. Besides, market breadth was terrible (with advance-decline ratio almost one). The rupee hit a 5-month high while the 10-year government bond yield remains largely flat. All global markets are also rolling over.


The BSE Sensex stock market index opened up at 20,992, hit an intra-day high of 21,165 and then trended down to an intra-day low of 20,929 before closing at 20,957 (up 249 points or 1.20%). Similarly, Nifty stock market index opened up at 6,262, then hit an intra-day high of 6,241 then trended down to hit an intra-day low of 6,232 before closing at 6,241 (up 80 points, or 1.30%).


By and large, all stock market indices were seen trending up except for media, IT, FMCG and pharmaceuticals which were down 2.09%, 0.47%, 1.04% and 1.31% respectively.


Of the 50 stocks on the Nifty, 34 advanced and 16 declined. The top gainers were IDFC (6.78%); ICICI Bank (6.63%); HDFC Bank (4.62%); L&T (4.60%) and BHEL (4.19%). The top losers were Sun Pharmaceuticals (-2.43%); Dr Reddy (-1.61%); Lupin (-1.41%); ITC (-1.33%); Hindustan Unilever (-1.22%).


The government has deferred the decision on issuing banking licenses until March next year, citing that many of the license applicants have “complex” structures. The United States Federal Reserve said that it saw stronger manufacturing during October to mid-November and sees “modest to moderate” growth in the US economy. The US trade deficit shrank 5.4% in October to $40.6 billion. The US November non-manufacturing index (i.e. service sector) fell to 53.9 from 55.4 in October. The US markets sold off during the day but recovered impressively to end slightly lower. The Nasdaq was flat while S&P 500 was down 0.12% and Dow down 0.15%. US stock futures were seen trading flat ahead of Thursday trading in US. Interestingly, yesterday, the US 10-year bond yield ht 2.85% even without any hint of inflation and tapering.


In Asia Nikkei finished weak dipping 1.50% as Yen strengthened. Hang Seng and Shanghai were flat while Singapore was down 1%.


Meanwhile, in Europe, the Spanish 5-year notes are currently yielding 2.72%, the lowest since July 2005, indicating recovery in progress. Spain’s IBEX index was up 0.35%. However, all European investors’ eyes are on ECB and BOE decisions are due today on monetary policy. European stock markets were flat.


SC says sports bodies should be headed by sportsperson, not businessmen

Politicians and businessmen heading sports bodies are causing harm to the games and should leave their running to sportpersons, the Supreme Court said

The Supreme Court on Thursday while blaming administrators for the poor state of the national game, hockey, in the country said sports bodies should be headed by sports persons and not by businessmen.


In stinging remarks on the state of affairs in sporting bodies, the apex court said it is a “sad commentary” that people who are the administrators of the game have nothing to do with sports and they run the bodies at the cost of the game.


A bench comprising justices TS Thakur and J Chelameshwar said, “Sports are run by private individual persons. Private individuals are controlling the games in India. Can the game be held hostage by private interest? This is why hockey has come down and the team is struggling to qualify for Olympics where we used to win gold medals”.


“These officers run the federations at the cost of the game. They do not have anything to do with the game. It is a sad commentary on sports in the country,” it further said.


The Court was hearing a plea filed by Indian Hockey Federation (IHF), which is at loggerheads with its rival Hockey India (HI), seeking stay on the proceeding initiated by Federation of International Hockey to find out which of them is to be recognised to represent the country at international events.


The apex cout also mentioned that politics has taken hockey into abysmal low. "Deteriorating condition of the national game is a matter of concern. India used to win gold medals earlier but not now," the apex court mentioned.


The Indian hockey team has won the Olympic gold eight times but finished last (12th) at the London Olympics and finished in eighth place at the World Cup in 2010 - winning just one match out of six.



Simple Indian

3 years ago

The biggest irony in a cricket-crazy country like India is that its governing body - BCCI - is registered not as a sports body, but as a charitable institution. Will the SC take suo motu action against BCCI and force Govt of India to take control of the game from BCCI ?
Though hockey has been our national game, it has a very small footprint as a sport in India. That sports bodies like BCCI and State Cricket Associations are slush with cash is no secret, considering how politicians flock to head these bodies. Politicians always show interest in an institution not to serve it/its stakeholders, but to fleece it.

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