Daily stock market review and outlook

It was a disappointing at the Indian stock market today. Mixed global cues with a downward bias, US commerce department’s data revealing contraction in the US economy for the fourth quarter and profit booking on the F&O expiry today dragged the market well below its yesterday’s closing. In what was lackluster day of trading, the market closed to a two-week low, well below the psychologically crucial level of 20,000.
The benchmark BSE Sensex closed at 19,894.98 losing 110.02 points (0.55%). The Sensex earlier touched a high of 20,008.83 and a low of 19,865. It opened in the negative zone at 19987. The broader indices, NSE Nifty closed at 6,034 down 21 points (0.35%) over the previous close. The Nifty earlier touched a day’s high of 6,058 and a day’s low of 6,025. It opened at 6,045.
In spite of negative closing of the Indian stock market, 19 of the 30 Sensex-based scripts closed with gains while others finished with losses. Tata Power dipped by 2.17 %, ICICI Bank 1.93 %, HDFC Bank 1.87 %, Bharti Airtel 1.52 %, RIL 1.39 %, HDFC 1.37 %, L&T 1.35 %, Maruti Suzuki 1.21 %, Jindal Steel 1.16 %and HUL 1.0 %. However, shares of BHEL gained 2.36 %, Sun Pharma 1.33 %, Hero MotoCorp 1.31 % and Gail India 1.03 %.
The BSE Midcap index gained 0.54%, while the BSE Smallcap index fell 0.11% in today’s trade. Among the 13 BSE sectoral indices, seven sectoral indices closed with losses while remaining six sectors closed with gains. Top gainers were: BSE Realty up by 1.38%, BSE PSU up by 1.02%, BSE CD up 0.61%. Top losers were: BSE Bankex down 0.42%, BSE Oil&Gas down by 0.42% and BSE IT down by 0.26%.
Despite fall in the Sensex and Nifty, the market breadth was quite stable following good buying in second-line stocks as 1,066 (36.14%) stocks closed with losses while 1,093 (37.05%) ended with gains. 791 (26.81%) stocks remained unchanged.

Market outlook for tomorrow

Most Asian markets suffered losses on today as investors reacted to a weak set of earnings reports and downbeat economic data from the U.S. The Hang Seng index in Hong Kong was down 0.39 %, Kospi index was down 0.13 %, Straits Times was down 0.10%. However, the Shanghai index in China was up 0.12 %, Nikkei index in Japan was up 0.22% and Taiwan index also added 0.22%.
The European stock markets were under pressure in early trades on Thursday. The Federal Reserve on Wednesday maintained its aggressive easing program, but said growth has paused in recent months. This impacted the European markets and FTSE index in UK was down 0.73 %, the CAC index in France was down 0.87% and the DAX index in Germany declined by 0.45 %. Even markets in the U.S are trading in negative zone. Dow Jones Industrial Average is currently down by 0.22 %, while Nasdaq Composite Index is down by 0.11%.
Foreign institutional investors (FIIs) bought shares worth Rs. 906.36 crore yesterday as per provisional data from the stock exchanges. In the month of January the FII’s have infused nearly 200bn so far. However, the Domestic institutional investors have sucked out nearly 39bn during the month.
Thus the market outlook for tomorrow is not all that bright. More corrections are inevitable. Although, tomorrow being the first day of the F&O new settlement, some value based buying may be seen.

Daily market review and outlook

Even more than enough positive cues could not lift the Indian stock market indices to the expected level. However the BSE Sensex managed to close above the psychologically crucial level of 20,000. The major market indices traded in a narrow range ahead of expiry of derivatives contract tomorrow. Though the Indian stock market opened higher, but “caution” remained the key word. The market participants were seen on the sidelines ahead of US Federal Reserve's monetary policy decision due later in the day.
The benchmark BSE Sensex gained 14.10 points to close at 20,005 by the end of day’s trading. Sensex had earlier touched a day's high of 20,073 and a day's low of 19,964. It opened at 20,014. While the broad based NSE Nifty rose by 5.85 points to settle at 6,055.75. The Nifty earlier touched a day’s high of 6,071 and a day’s low of 6,044. It opened at 6,065.
Realty major DLF was the top gainer from the Nifty pack with a rise of 3.09 %. Other four major gainers were Cipla 2.48 %, HUL 1.90 %, Sesa Goa 1.88 % and RIL 1.87 %. However, top five losers were GAIL India 3.25 %, PNB 2.98 %, Tata Power 2.91 %, L&T 1.93 % and Jindal Steel 1.85 %.
The BSE Midcap index declined 0.03%, while the BSE Smallcap index fell by 0.21% by the end of day’s trading. Among the 13 BSE sectoral indices, five sectors closed in the red zone while remaining eight sectors closed in the green zone. Top gainers were, BSE Realty up by 1.39%, BSE CD up by 1.24%, BSE Oil&Gas up 1.06%. While top losers were, BSE CG down 1.24%, BSE Power down by 0.68% and BSE Auto down by 0.49%.
The market breadth stood in favor of declines. Of the 3016 stocks traded on the BSE, 969 (32.13%) rose, 1219 (40.42%) fell and 828 (27.45%) stocks remained unchanged.

Outlook for tomorrow’s market

All the major Asian markets were up today. Nikkei has gained 2.28%, Hang Seng was up by 0.71%, Strait Times surged by 0.80%, Shanghai Composite gained 1.00%, Taiwan ended higher by 0.40% and Kospi was also up by 0.43%.
However European markets ended lower in spite of a positive start. FTSE, DAX and CAC were all in the red zone. When this report is being prepared, U.S markets were almost flat. DOW is marginally down by 0.13% while NASDAQ is trading lower by 0.03%.
Figures of Foreign Institutional Investors (FIIs) buying interest in Indian stock is reflected in the fact that yesterday also FII picked up shares worth Rs 1,006.20 crore, as per Sebi data.
The Indian market seems to have discounted the derivative expiry tomorrow. Roll over seems to have been completed. So the market may see some positive buying tomorrow which will lift the market indices. Positive talk of the Indian finance minister will also help the market indices to move up.

Daily market review and outlook

In spite of a 25 basis point repo rate cut to 7.75% by the RBI and an unexpected cut in the CRR by a further 0.25 per cent to 4 per cent failed to keep the market sentiment high. RBI’s projection of a lower economic growth for current fiscal to 5.5 per cent, from 5.8 per cent and concern about high current account and fiscal deficits causing inflation to flare again dampen the market sentiment and all the major Indian stock indices closed with heavy losses.
At the closing of the day’s trading, the BSE Sensex closed lower by 112.45 points at 19,990.90. It had earlier touched a day's high of 20203.66 and a day's low of 19970.05. Sensex opened at 20080. The broad based NSE Nifty closed at 6049.90, down by 24.90 points. It had earlier touched a day's high of 6,111.80 and a day’s low of 6,042. Nifty opened at 6,064.
Shares of 22 companies out of 30 companies comprising the 30-share Sensex pack declined. Major losers were Hindalco (2.7 %), Bajaj Auto (2.62 %), HDFC Bank (2.61 %), Bharti Airtel (2.43 %), BHEL (2.12 %), Gail India (1.98 %), RIL (1.68 %), Tata Steel (1.68 %), Tata Motors (1.59 %), Wipro (1.43 %), SBI (1.32 %), Sun Pharma (1.28 %) and M&M (1.03 %). However, ITC rose by 1.73 % and Coal India by 1.62 %.
All the 13 sectoral indices of BSE closed in the red zone except BSE FMCG, which was up by 0.70%. Top losers were, BSE Realty down by 2.07 %, BSE OIL&GAS down by 1.35 %, BSE Auto down by 1.12%.
The market breadth stood in favor of declines. Of the 2976 stocks traded on the BSE, 786 (26.41%) rose, 960 (32.26%) fell and 1230 (41.33%) stocks remained unchanged.

Market outlook for tomorrow

Asia markets mostly ended with gains on Tuesday. Japanese stocks recovered from early weakness on the back of a solid rally in banks, while Chinese shares retreated from recent gains. Nikkei has added 0.4%. Shanghai Composite, Kospi and Taiwan Weighted jumped around 1% each.
European shares consolidated near two-year highs on Tuesday and oil prices steadied as investors awaited data on the strength of U.S. economy and a Federal Reserve policy decision later in the week. FTSE was up by 0.71 %, while DAS and CAC also ended with gains. When this report is being prepared, Dow Jones Industrial Average is up by 0.44 % while NASDAQ is marginally lower.
Thus overall global cues points to a positive market trend for the Indian bourses tomorrow. So in spite of derivatives expiry on Thursday, Indian market is all set to move up in tomorrow’s trading. Moreover finance minister signaling of tougher economic stand in the budget next month will help the market to gain confidence.

Daily stock market review and outlook

In spite of a firm and positive opening, the market failed to consolidate on the early gains and ended almost flat. The benchmark indices remained stuck in a narrow trading zone throughout the day as market participants preferred to stay on the sidelines ahead of the RBI fourth-quarter monetary policy review tomorrow and Futures & Options expiry later this week. Even positive cues from Asian and European markets failed to lift the Indian stock market.
The benchmark BSE Sensex ended only marginally lower by 0.18 points to end the day’s trading at 20,103.35 points. It opened at 20129. It had earlier touched a day's high of 20172.45 and a day's low of 20062.79. The broader NSE Nifty also closed marginally lower by 1.20 points to close at 6,073.45. It opened at 6082. The Nifty touched a day’s high of 6088.40 and a low of 6061.40.
Of the 30-BSE index components, 15 stocks closed with gains while 15 ended with losses. Shares of Wipro, TCS, ICICI Bank, Hero MotoCorp, Coal India, Dr Reddys Lab, HDFC, Bajaj Auto, Tata Motors, Hindalco, ITC, Mahindra & Mahindra were among gainers in Sensex and Nifty. While RIL, Infosys, NTPC, ONGC, L&T, Sun Pharma, Bharti Airtel, BHEL, Jindal Steel, SBI were among losers in Sensex and Nifty.
The BSE Mid Cap index closed flat, while the BSE Small Cap index closed marginally higher. Among the 13 sectoral indices, six sectors closed with loss while remaining seven sectors closed with gains. Top gainers were, BSE Realty up by 1.84%, BSE Auto up by 1.03%, BSE Bankex up by 0.68%. Top losers were, BSE Oil&Gas down by 1.14%, BSE CD down by 0.91% and BSE CG down by 0.65%.
The market breadth stood in favor of advances. Of the 2972 stocks traded on the BSE, 1213 (40.81%) rose, 992 (33.38%) fell and 767 (25.81%) stocks remained unchanged.
Private sector banks were in the limelight today. ICICI Bank led the gains, ending 1.5 % higher, gaining 4.6 percent in 2013. Shares in Axis Bank Ltd gained 1.9 % on expectations that its up to $1 billion share sale. Yes Bank Ltd shares rose 3.8 percent after Nomura upgraded the stock to "buy" from "neutral", saying the 146 new branch licenses it was granted by the RBI should help improve returns on assets. Real estate developer DLF rose 2.7 percent while Unitech Ltd also ended 2.3 percent higher on hopes a potential rate cut would help sales in the sector. Among other gainers, Maruti Suzuki India gained 0.5 percent after UBS upgraded its ratings to "buy" from "neutral." Oil and gas stocks declined on profit-taking, with ONGC falling 1.8 percent, having gained 27.3 percent in January. Reliance Industries fell 1.6 percent after gaining 8.65 percent in January.

Outlook for tomorrow’s market

The market is in line with a 25 basis point rate cut by the RBI tomorrow. Anything better than this will certainly see the market scaling new heights. However, if RBI continues to disappoint market by keeping the rates untouched, then the market will definitely go on a tail-spin. But most analysts believe that the RBI will announce a 25 basis point rate cut.
Most Asian markets ended with gains on Monday. However, the Nikkei index in Japan ended with losses from near 3 year highs on account of profit booking. The index declined by 0.94%. Among the top gainers were, the Shanghai Composite index in China rose by 2.41%, the Taiwan index rose by 0.55%, the Hang Seng index in Hong Kong gained by 0.4% and the Straits Times added 0.2%. Markets in the Europe were mixed. The FTSE index in UK was up by 0.29%, the CAC index in France was marginally up by 0.06% and the DAX index in Germany were trading marginally lower by 0.26%. Markets in the U.S are trading marginally lower at present.
Meanwhile reports from Goldman Sachs on Monday points to continued buying spree among foreign institutional investors (FII) in Indian shares. The report says that FII’s have bought $3 billion in the first 23 days of the month, marking a record high for that time period. Also reports of up gradation of various Indian companies in the rating by foreign funds points to the strong positive under current in the market.
Thus Indian stock market is all set to open on a anxious note tomorrow and unless the RBI disappoints, market is set to move up.

Daily stock market review and outlook

In spite of a positive start, key Indian stock market indices ended the day well below yesterday’s close. Major sell-off in index stock, mainly Tata Motors and negative global peers pulled the market down by half a percentage. Tata Motors warning investors of a weaker earnings report in the company’s UK subsidiary Jaguar Land Rover for the three months ended 31 December as compared with the previous two quarters, was a real sentiment dampener for the market today. Weak Asian markets and negative opening of European market didn’t help the cause either. Most valuable U.S. Company, Apple Inc reporting revenue earning that missed market expectations, points to a likely weak opening of the markets in U.S.
30-shareBSE Sensex ended lower by 102.83 points at 19923.78. The index hit an intra-day high of 20072 and an intra-day low of 19,884. The index opened at 20017. The broader NSE Nifty closed at 6,019.35, down 34.95 points over the previous close. It hit an intra-day’s high of 6,065 and a day’s low of 6,007. It opened at 6,046.
20 shares out of the 30-share BSE Sensex ended lower while others finished higher. Tata Motors was the top loser from the Sensex pack with a fall of 5.91%, followed by Gail India (4.66%), Cipla (3.67%), Hindalco (3.39%), Sterlite Ind (2.53%), Maruti Suzuki (2.39%), Tata Power (2.32 pc). Major gainers were HUL 1.86%, followed by ITC (1.64%), TCS (1.06%), ONGC (1.01%) and Wipro (0.91%).
The BSE Mid Cap Index ended lower by 2.51%, while the BSE Small Cap Index ended lower by 2.44%. Among the 13 sectoral indices, ten sectors closed in red zone while remaining three sectors closed in green zone. BSE-Realty dropped by 4.19 per cent, followed by BSE-Auto (2.51%), BSE-Power (1.97%), BSE-Metal (1.84%), BSE-PSU (1.52%) and BSE-HC (1.33%) while BSE-FMCG rose by 1.03%, BSE-IT 0.37% and BSECG (Capital Goods) surged by 0.36%.
The market breadth stood in favor of declines. Of the 2985 stocks traded on the BSE, 535 (17.92%) rose, 1674 (56.08%) fell and 776 (26%) stocks remained unchanged.

Market outlook for tomorrow

Positive signals from China’s manufacturing Purchasing Managers’ Index (PMI) for January climbing to a 24-month high of 51.9, was eclipsed by North Korea threatening a nuclear test and as an outcome of it most of the Asian markets were lower today. The Shanghai Composite index in China declined by 0.8%, the Kospi index fell by 0.8%, the Taiwan index was down by 0.63% and the Hang Seng index in Hong Kong was down by 0.15%. However, the Nikkei index in Japan was up 1.2% and the Straits Times index added by 0.5%.
Meanwhile, European stock markets which dropped in early trades on Thursday have managed to recover and are trading in the positive terrain. The FTSE index in UK was up 0.5%, the DAX index in Germany was up 0.15% and the CAC index in France was up 0.4%. Markets in the U.S seems to have recovered the shock wave of Apple Inc lower than expected earnings report and the Dow Jones Industrial Average is up by over 0.60%, while NASDAQ is almost flat.
Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth a net Rs 802.62 crore yesterday as per provisional data from the stock exchanges. One must not forget that FIIs have remained net buyers in all the trading sessions this week till reports are available. This undoubtedly signifies the underlying sentiment of the Indian markets.
However, being the last trading day of the week, long positions will not be taken by the market participants tomorrow. Positive closing of U.S markets today will definitely help the market in regaining today’s loss in tomorrow’s trade.