Showing posts with label GDP data. Show all posts
Showing posts with label GDP data. Show all posts

August 30, 2013

Market Pulse - 30 Aug, 2013

Market Pulse 30 Aug 2013
Markets closed positive for the third straight consecutive day amid volatile trading session, after Prime Minister assured that the Rupee's decline will be addressed without capital controls or reversal of reforms. The S&P BSE Sensex closed up by 218.68 points or 1.19% at 18,619.72. The CNX Nifty gained up by 62.75 points or 1.16% at 5,471.80.

Among sectoral indices, Consumer Durables, Bankex, Healthcare, FMCG, IT, PSU and Oil & Gas indices advanced between 1-2% while Metal index dropped by over 2%.

Among major index gainers were, Bajaj Auto spurted up by 5.62%, followed by Cipla, TCS, HDFC Bank, Hindustan Unilever, HDFC, HeroMotoCorp and Wipro surging between 5-2%. Other notable gainers include Dr Reddys Lab, Gail (India), Sun Pharma, SBI, BHEL, RIL, ITC, ONGC, NTPC and Coal India. while L&T closed almost flat.

Among major index losers were, Jindal Steel tanked by 8.85%, Sesa Goa and Tata Steel also slipped by 2.70-2.35%. Hindalco Inda, Mahindra & Mahindra, Tata Power, Tata Steel, Maruti Suzuki, ICICI Bank, Infosys and Bharti Airtel were some of other notable losers on the list.

The Rupee rebounded back from its lower level to close up by 85 paise at 65.70 against dollar, after Prime Minister’s assurance to battle the currency’s fall and reviving economic growth.

Indian economy for first quarter for the current fiscal grew slower than expected rate at 4.4%. The economy grew at the slowest quarterly rate since the global financial crises.

Coal India for the first time after its ipo (initial public offer) traded below its offer price. It had touched a record low of 238.35, but it managed to close at 250.50 up by 0.55 paise or 0.22% from its previous day close of Rs 249.95.

The overall market breadth in was positive with 1,158 shares advancing compared to 1,072 shares declining.

May 31, 2013

Market Pulse - 31 May, 2013

Fri, May 31, 2013 at 16:00 PM
Markets crashed after, GDP data .
Markets opened weak in the morning and traded weak till late noon and crashed down further as GDP data was announce, which was in line with expectations, weighed on Banking and Realty sectors shares as hopes for rate cut by RBI (Reserve Bank of India) faded which is scheduled next month. Sensex closed down by 455.10 points or 2.25% at 19,760.30 after opening weak down by 28.73 points or 0.14% at 20,186.67 and touched a high of 20,191.29 and a low of 19,730.55 while Nifty ended down by 138.10 points or 2.26% at 5,985.95 after opening down by 25.35 points or 0.41% at 6,098.70 and touched a high of 6,106.25 and a low of 5,977.55 in the day.

Sectoral wise, barring IT index which managed to close positive up by 0.94%, all other indices slipped into negative zone with Realty index leading the list dropping by 3.20% followed by indices were, Oil & Gas, FMCG, Bankex and PSU declined between 3%-2%, Power, Auto, Metal, Capital Goods and Consumer Duables fell between 2%-1% while Healthcare index was down by 0.85%. From the broader markets Mid-cap and Small-cap indices too closed negative with Mid-cap index closed down by 1.27% and Small-cap index fell by 1.50%.

Major stock gainers were, Infosys surged up by 2.79%, Sterlite Industries Limited gained up by 2.58% while Tata Consultancy Services closed almost flat up by 0.07%

Major stock losers were, Bharti Airtel Limited, Gail (India), Jindal Steel & Power Limited and ITC dropped between 5%-4%, Hindalco Industries Limited, Mahindra & Mahindra, HDFC, Reliance Industries Limited, Tata Steel Limited, Cipla Limited, HDFC Bank Limited and Wipro Limited declined between 4%-3%, BHEL, Sun Pharmaceuticals, ICICI Bank Limited and ONGC fell between 3%-2%, State Bank of India, Maruti Suzuki, Larsen & Toubro, NTPC, Hero Motocorp, Tata Power Company and Tata Motors Limited declined between 2%-1%, Coal India Limited, Bajaj Auto and Dr Reddys Laboratories fell between 1%-0.50% while Hindustan Unilever down by 0.34%.

GDP for fourth quarter grew at 4.80% per cent as against of 4.70% for previous quarter, which is marginally lower than an estimate of 4.9%. The GDP growth figure for Q3 has been revised to 4.70% against 4.50% earlier. GDP for FY13 grew at 5%, which is lowest in a decade, against 6.20% year-on-year (y-o-y). Helped by higher revenue mop up, fiscal deficit for 2012-13 worked out to be at 4.89% of GDP down revised from estimate of 5.20%.

Overall market breadth was firm negative with 1,589 shares declined compared to 791 shares advanced while 119 shares remained unchanged.

December 15, 2012

Weekly Pulse - Dec 15, 2012

Weekly Update - Dec 15, 2012

Bharti Infratel IPO
Bharti Infratel IPO subscribed 1.3 times. Of the total shares reserved for retail investors, there were bids for just 6%, while institutional investors category was subscribed 10%.

The biggest IPO in over 2 year, made by telecom tower company Bharti Infratel, has received total subscription of over Rs 4,365 crore or 1.3 times the issue size. The IPO, biggest since Coal India's offer in October 2010, attracted bids for over 20.78 crore shares -- of the 18.89 crore equity shares offered in the main book building process -- translating to 1.3 times subscription.

Of the total shares reserved for retail investors, there were bids for just 6%, while institutional investors category was subscribed 10%.

On the other hand, the Qualified Institutional Buyers (QIBs) book, which closed yesterday, was subscribed 2 times.

The issue was in the price band of Rs 210-240 a share. It had opened on December 11.

At the upper end of the price band, Bharti Infratel was to raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore.

The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

Sunil Bharti Mittal led-company Bharti Airtel, which owns about 86% of Bharti Infratel, is not participating in the share sale.

The company has said the proceeds from the IPO will be used to fund its expansion and future acquisitions.

Bharti Infratel on Monday received Rs 651.7 crore from 18 anchor investors, including Morgan Stanley and Sundaram MF.

The company had priced shares for the anchor investors at Rs 230 a piece, and allocated 2.83 crore shares (15% of the issue size) to them, Bharti Infratel had said in a filing to the BSE.

The joint book running lead managers to the IPO are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities (India) and UBS Securities India.

The issue's lead managers are Barclays Securities (India), Deutsche Equities India, Enam Securities, HSBC Securities and Capital Markets (India) and Kotak Mahindra Capital Company.

The co-book running lead managers to the issue are BNP Paribas, DBS Bank, HDFC Bank and ICICI Securities.

Bharti Infratel is the first tower company to come out with an IPO. Other players in the tower business include Anil Ambani-led Reliance Infratel, and Viom Networks -- a joint venture between Tata Teleservices and Kolkata-based Quippo Infrastructure.

Market Turn Over
Total market turnover for both the Bombay Stock Exchange and National Stock Exchange was Rs 1.81 lakh crore on Friday.

On the Bombay Stock Exchange, turnover in the cash segment amounted to Rs 2,423 crore while the derivatives segment registered a turnover of Rs 36,665 crore.

On the National Stock Exchange, turnover in the cash segment was Rs 11,382 crore while the turnover in the derivatives segment was Rs 1,30,742 crore.

Markets ended marginally lower for the week.

Markets ended lower for the week neglecting better than expected IIP data and easing inflation numbers with the Sensex down by 0.5% to 19,317.25, while Nifty down by 0.47% at 5,879.60 to end the week.

Sectoral wise, after weeks of out-performace, Small-cap and Mid-cap corrected over 1% each, underperforming the benchmark indices.

On the macro front, inflation fell to a 10-month low of 7.24% in November, from 7.45% in the previous month, increasing hopes of a rate cut by the RBI. It's the last crucial data before the RBI's monetary policy review on December 18. A rate cut by RBI would improve economic growth, languishing below six per cent for three quarters in a row till July-September 2012-13.

Economists, expects RBI will maintain a status however, said RBI will maintain a status quo on the rate front on December 18. YES Bank Chief Economist Shubhada Rao said: “We expect RBI to maintain status quo in its mid-quarter review on December 18, though it is likely to acknowledge the early moderation in price pressures.”

Also, industrial production growth rate bounced back to a 16-month high of 8.2% in October on good performance of the manufacturing, power sector and higher output of capital as well as consumer goods, indicating sudden recovery in the economy. The factory output, as measured by the Index of Industrial Production (IIP), contracted by 5% in October last year.

Meanwhile, India's exports in November contracted 4.17% year-on-year, for the seventh month in a row, to $22.2 billion, due to slowdown in demand in the US and European markets. However imports grew by 6.35% to $41.5 billion in November, leaving a trade deficit of $19.28 billion. The trade deficit increased to $19.28 billion in November 2012 from $15.83 in November 2011.

Amidst the improving macros, foreign institutional investors continued to remain positive with a purchase of shares worth Rs 13,278.20 crore for the month of December so far .

Back to the markets, among the sectoral indices, Consumer Durables, Power, Capital Goods, PSU, Realty and FMCG indices lost 1.5-4.6% and Oil & Gas slipped 0.8%. On the other hand, the winners were Health Care up 0.1%, Bankex added 0.6% and the top gainer was Auto index which rode up 2%.

The movers in the auto space were Bajaj Auto, Tata Motors, Hero MotoCorp and Mahindra & Mahindra which gained 1-7%.

Apart from the auto names, the top gainers among the Sensex-30 were Jindal Steel, Sun Pharma and HDFC which added 2-5%. The other notable gainers were Tata Steel, Reliance Industries, ICICI Bank, SBI and Sterlite which stepped up between 0.3-0.6%. Among the draggers were BHEL, NTPC, Tata Power, Bharti Airtel, Hindalco, ONGC, Coal India, HUL, Maruti Suzuki, TCS, L&T, ITC and Infosys lost 2-7%.

For the coming week, markets are likely to reamin volatile with the RBI's mid-quarter monetary policy which is scheduled on 18th of this month wherein a rate cut is anticipated.

December 1, 2012

Weekly Pulse - Dec 1, 2012

Weekly Update - Dec 1, 2012

Market  posted it's biggest weekly gain of six month led by FII's buying, witnessed in banks, capital goods, real estate sectors accompanied by reforms hopes after Congress-led UPA government agreed  to vote in parliament on allowing FDI in multi-brand retail sector. Markets ended higher for fourth consecutive trading session after weak GDP data raised hopes of some monetary easing by RBI on 18th December policy review.

Sensex ended 0.80% up or 168.99 points higher 19339.90, highest since April 27, 2011, gaining 4.51% for the week while Nifty gained 0.94% or 54.85 points to 5879.85, highest since April 21, 2011 adding 4.5% for the week.

Economy grew by 5.3% in the July-September period of the current financial year (2012-13), pulled down by poor performance of manufacturing and agriculture sectors, showing persistent signs of slowdown. The GDP had expanded by 6.7% in the same period of last fiscal. Meanwhile, Fiscal deficit during the April-October period rose to 3.68 lakh crore, or 71.6% of the Budgeted full fiscal year 2012-13 target, government data showed on Friday. During the same period in the previous fiscal year, the deficit was 74.4% of the Budget target. Overseas investors net bought $517.84 million worth of local shares on Friday and $990.49 million in November, data on Securities and Exchange Board of India site showed.

Banks and automobiles sector posted over 2-5% gains in the week. Key stocks namely State Bank of India, ICICI Bank rose over 2% on Friday while Mahindra and Mahindra Ltd, DLF posted nearly 1% gain. Top BSE gainers for the week included Sterlite Industries, country's biggest copper maker, surging 12%, Bharti Airtel, India's biggest mobile—phone operator, gaining 10% while Cipla rose 8%. Among individual stocks, loss-making carriers Jet Airways and SpiceJet gained over talks with overseas carriers, to sell minority stakes. Both gained nearly 5% for the week. PVR Limited rallied 24% in the week after the Delhi-based multiplex major said that it had entered into a “definitive agreement" with Cinemax India to acquire a 69.27% promoter’s stake in an all-cash deal worth Rs 395 crore. SKS Microfinance rose 25%in the week ended Nov 30, after the foreign institutional investors (FIIs) hike their stake in the company to record high of 31.77% in the July-September quarter. In its biggest acquisition ever, ONGC Videsh Ltd (OVL) has agreed to invest around $5 billion to acquire ConocoPhillips’ 8.4 per cent stake in the Kashagan field off North Caspian Sea. The deal is expected to be closed during the first half of next calendar year. The stock rose 5% for the week.

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