Nifty, Sensex will try to head higher –Weekly closing report

As long as Nifty does not close below 8,320, the index may head higher


The S&P BSE Sensex closed the week that ended on 14th November at 28,047 (up 178 points or 0.64%), while the NSE's CNX Nifty ended at 8,390 (up 53 points or 0.63%).


Previous week, we had mentioned that the Indian benchmarks may move sideways.
Although the week began with the Nifty reaching its new all time high, it was unable to sustain at that level and closed Monday at 8,344 (up only 7 points or 0.09%). The cabinet reshuffle brought in four ministers into the Narendra Modi government, while three took charge as Ministers of State (independent charge). The Prime Minister also included 13 ministers of state in his cabinet on Sunday.

On Tuesday, Nifty closed at 8,363 (up 18 points or 0.22%). The market move was influenced by the news of Ministry of Civil Aviation releasing the Draft Civil Aviation Policy, which mentions that airports are to be designed as integrated multi-modal hubs to provide the best possible service levels, as well as potential for growth. Along with this, the Ministry of Road Transport & Highways and the Ministry of Railways signed a memorandum of understanding (MoU) on policy related to constructions of Road Over/Under Bridges (ROBs/RUBs) on National Highway corridors. Meanwhile, the Reserve Bank of India (RBI) issued a revised Regulatory Framework for Non-banking Finance Companies (NBFCs), with a view to streamlining the regulations for the sector.

On Wednesday, Nifty broke the high it hit on Monday but the move was supported by lower volume. Nifty closed at 8,383 (up 21 points or 0.25%). After market hours the government released the IIP data for September 2014, which was at 2.5%, compared to 0.4% recorded in the month of August and the CPI (consumer price index) inflation stood at 5.52% in the month of October as compared to 6.46% reported in the month of September.

Nifty closed Thursday in the negative for the first time during the week. India and the US claimed to have resolved their differences on public stockholding of food and this opened the way for implementation of the WTO trade facilitation deal, which India refused to sign earlier.

On Friday, Nifty closed at all-time high after India's wholesale price inflation (WPI) dropped to a five-year low of 1.77% in October over continuing decline in food prices, including vegetables.

Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:


ML Top sector


ML Worst sector




Oil & Gas


Auto Components




Consumer Products




Lifestyle & Leisure


Non-Ferrous Metals


Consumer Durables








3 years ago

Is there any regulation regarding maximum distance between two ATMs of a bank. A customer should not be compelled to use other bank's ATM due to cartelization.

IPL Spot Fixing: N Srinivasan, Meiyappan, Kundra named in Mudgal Committee report

The list released by the Supreme Court consists seven names out of the 13 people who were named in the Mudgal Committee report


The Supreme Court on Friday disclosed names of people probed by the Justice Mudgal Committee for their alleged links to the Indian Premier League (IPL) spot-fixing scam.


It includes N Srinivasan, the president of Board of Control for Cricket in India (BCCI), BCCI's chief operating officer (COO) Sunder Raman, Rajasthan Royals co-owner Raj Kundra and Chennai Super Kings team principal Gurunath Meiyappan.


The court further directed the findings of the Mudgal report on non-cricketers to be disclosed.


According to reports, Stuart Binny and former England batsman Owais Shah are allegedly also under scrutiny. One player from the Chennai Super Kings team is also under scrutiny.


According to Aditya Verma, the secretary of Cricket Association of Bihar (CAB), who was the petitioner in the case, the apex court has not revealed the names of the big players.


"The Supreme Court released the seven names of the 13 people who were named in the Mudgal report. Three of the names are of players, while the others are of officials. The court requested that the names of the players not be disclosed," he said.


"The names that have not been released are all of players, but the court has kept the revealing of the said names on hold as of now," he added.


Verma also questioned the motives behind the BCCI's proposal to postpone its annual general meeting (AGM).


"Even after top officials of the BCCI have been named by the Mudgal report, why is the organisation not willing to go ahead with its AGM and name new officials? I request all state associations to not stand by this," he said.


On 25th March, the court had told Srinivasan to step down from his position as BCCI president in order to ensure a fair investigation into the betting and spot-fixing charges levied against his Meiyappan, the team principal of Chennai Super Kings.


The BCCI does not recognize the CAB and Verma, who had filed the public interest litigation (PIL) against the cricketing body last year, accusing it of corruption.



Joji Achangadon

3 years ago

மருமகனே மருமகனே வா..வா...

Nifty, Sensex still trapped in a range – Friday closing report

Nifty will have to push past 8,420 to rally higher.


We had mentioned in Thursday’s closing report that the Indian indices may witness selling at higher levels. The weak but positive opening on Friday was followed with the benchmarks trading in the green during most of the session. The indices were strongly pulled up after each plunge. After 2pm the benchmark indices lost their strength and moved into the red for the second time in today’s session. However, they recovered to close in the green.

S&P BSE Sensex opened at 27,950 and moved in the range of 27,913 and 28,093 before closing at 28,047 (up 106 points or 0.38%). NSE’s CNX Nifty opened at 8,361 and moved between 8,347 and 8,401 level before closing at 8,390 (up 32 points or 0.38%).


NSE recorded a volume of 91.59 crore shares. India VIX rose 1.25% to close at 13.9725.

India's wholesale price inflation (WPI) dropped to a five-year low of 1.77% in October over continuing decline in food prices, including vegetables. The WPI based inflation was at 2.38% in September and 7.24% in October 2013. As per data released by the government on Friday, the food inflation fell to a nearly two-and-half year low of 2.7%.

Coming back to markets, Jaiprakash Associates (8.14%) was the top gainer in ‘A’ group on the BSE. The stock posted weak result for this quarter. It posted net loss for the second consecutive quarter.

Balkrishna Industries (16.30%) was the top loser in ‘A’ group on the BSE. It hit its 52-week high on Wednesday. After market hours on Wednesday, the company announced its September quarter results. Balkrishna Industries’ second quarter net profit fell to Rs90.16 crore compared with Rs107.94 crore in September 2013 quarter. Its sales however increased from Rs839.58 crore to Rs881.31 crore for the relevant quarter.

Hindalco (3.59%) was the top gainer in Sensex 30 pack. Although the top line of the company for September 2014 recorded an increase over September 2013 quarter, its bottom line suffered due to huge exceptional item of Rs431.22 crore.

Weak September 2014 quarter result of Cipla pulled the stock lower. The stock (2.45%) was the top loser in the Sensex 30 stock.

US indices closed Thursday in the positive.

More workers quit their jobs in September as hires reached their highest level in nearly seven years, the Labour Department said on 13 November 2014. Hires increased to a seasonally adjusted 5 million, a level last seen in December 2007. Quits rose to a seasonally adjusted 2.8 million in September from 2.5 million in the previous month, data showed.

Except for Shanghai Composite (0.27%), KLSE Composite (0.11%) and Seoul Composite (0.78%) all the other Asian indices closed in the green. Nikkei 225 (0.56%) was the top gainer.    

European indices were trading marginally in the red. US Futures were trading in the green.

According to survey of economic forecasters released on Thursday by the European Central Bank (ECB), inflation in the eurozone is anticipated to remain super low for the remainder of this year and accelerate only gradually in the next two years.

German gross domestic product rose 0.1% in the three month through September after shrinking a revised 0.1% in the second quarter, the Federal Statistics Office in Wiesbaden said today. The French economy grew 0.3% after contracting 0.1% in the April-June period.


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