Daily stock market review and outlook

Unhappy with the Union Budget announced by finance minister P. Chidambaram, Indian stock market indices slumped to a three- month low. Slapping more taxes on super-rich, offering little concessions to large investors, lack of any definite expenditure control measures and concerns over rising current account deficit were some of the major factors to which the market reacted negatively. Even positive global markets and reduction in Securities Transaction Tax on mutual fund and equity futures transactions by the Finance minister in the budget couldn’t stop the market to have its worst Budget day show since 2009. Profit-booking on the last day of the expiry of February derivative contracts also weighed on the market. Moreover the news that India's economy grew at a worse-than-expected, 4.5 per cent in the quarter ending December 31, even below what it did in the quarter ending in September, affected the market sentiment negatively.

The 30-share BSE Sensex lost 290.87 points to end the day’s trading at 18861.54. The Sensex hit to a day's high of 19322.28 and a fell to a day's low of 18793.97. It opened at 19264.80. The broader indices, NSE Nifty lost 103.85 points, to end the day’s trading at 5693.05. The 50-share Nifty touched a day's high of 5849.90 and fell to a day's low of 5671.90. It opened at 5834.35.

Of the 50-share Nifty pack 8 stocks ended with gains while the rest 42 stocks closed with loses. The top 5 gainers among NSE stocks are: TCS surging by 2.28 %, followed by Kotak Mahindra Bank (0.93 %), HCL Tech (0.50 %), Tata Motors (0.45 %) and Bajaj Auto (0.45 %). The top 5 losers among NSE socks are: Reliance Infra (9.28 %), State Bank (5.99 %), PNB (5.53 %), Bank of Baroda (5.51 %) and Ranbaxy (5.25 %).

Of the 30 shares of BSE index components, only 7 stocks ended in positive terrain, while the rest 23 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: TCS surging by 2.14 %, followed by Bharti Airtel (0.62 %), Tata Motors (0.49 %), Sun Pharma (0.40 %) and Bajaj Auto (0.35 %). The top 5 losers of the Sensex pack were: State Bank (5.80 %), Tata Steel (4.04 %), ICICI Bank (3.86 %), Maruti (3.74 %) and L&T (3.17 %).

Both BSE Mid Cap and Small Cap index closed with losses of about 2 % in today’s trade. Among the 13 sectoral indices in BSE, only 3 sectors ended with gains while 10 sectors closed with losses.  Top and only three gainers of the BSE sectoral indices are: BSE CD up by 0.85%, BSE IT up by 0.47%, BSE TECk up 0.11%. Top 3 loosing sectors were: BSE Power down by 4.29%, BSE Bankex down by 3.59% and BSE CG declining by 3.39%.

The advance decline ratio was in favor of the bears. Of the 2931 stocks traded on the BSE, 857 (29.24%) rose, 1973 (67.31%) fell and 101 (3.45%) stocks remained unchanged.

Market outlook for tomorrow

All the Asian markets ended with heavy gains today. Japan’s Nikkei gained 2.71 % in today’s trade. Jakarta Composite gained 1.68 %, Hang Sang index in Hong Kong gained 1.96 %, China’s Shanghai Composite ended higher by 2.26 %, and KOSPI Index was up by 1.12 %. Markets in Taiwan were closed today and Straits Times gained 0.27 %.

All the European markets are also trading with gains. FTSE index in UK is at present trading up by 0.55 %, the CAC index in France is up by 0.85 %, DAX index in Germany is up by 0.86 % and AEX Amsterdam Index is up by 0.94 %. US stock markets are also trading with marginal gains. Dow Jones Industrial Average is trading higher by 0.05 %, while Nasdaq Composite Index is also up by 0.27 %.

Thus the broad outlook for tomorrow’s market seems to be positive. The market is all set to come up from today’s low. From the analysis of the budget, most seasoned market analysts are now saying that the budget may have missed the market expectations but has not been a populist one and in many is FDI friendly. This will definitely help the market to tide over 19,000 mark in tomorrow’s trade which also happens to be the first day of derivative trading for March

Daily stock market review and outlook

Positive global cues, raised growth projections for fiscal year 2013-14 and talk of a fiscally disciplined budget saw Indian stock market indices post its biggest daily gains in a month. Global market sentiment improved after Federal Reserve Chairman Ben Bernanke defended on Tuesday the U.S. central bank's monetary stimulus, easing worries over a possible early retreat from bond purchases. Oversold positions of Indian market ahead of derivative expiry tomorrow also helped the market to inch up as short sellers rushed to cover up their positions.

The 30-share BSE Sensex gained 137.27 points to end the day’s trading at 19152.41. The Sensex hit to a day's high of 19213.02 and a fell to a day's low of 18997.82. It opened at 19090.32. The broader indices, NSE Nifty gained 35.55 points, to end the day’s trading at 5796.90. The 50-share Nifty touched a day's high of 5818.20and a day's low of 5749.70. It opened at 5784.90.

Of the 50-share Nifty pack 32 stocks ended with gains while the rest 18 stocks closed with loses. The top 5 gainers among NSE stocks are: J.P. Associate surging by 5.63 %, followed by L&T (3.22 %), Bharti Airtel (3.19 %), Mahindra & Mahindra (3.12 %) and DLF (2.97 %). The top 5 losers among NSE socks are: Ranbaxy (4.20 %), Power Grid (1.85 %), GAIL (1.82 %), Infosys (1.66 %) and Siemens (1.41 %).

Of the 30 shares of BSE index components, 22 stocks ended in positive terrain, while the rest 8 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are Bharti Airtel surging by 3.29 %, followed by L&T (3.16 %), Mahindra & Mahindra (3.03 %), ONGC (2.91 %) and Bajaj Auto (2.23 %). The top 5 losers of the Sensex pack were: GAIL (1.72 %), Infosys (1.56 %), Tata Motors (1.11 %), Coal India (1.08 %) and Hero MotoCorp (1.01 %).

Both BSE Mid Cap and Small Cap index closed with gains. BSE Midcap index gained 0.7 % while the BSE Smallcap index inched up by 0.2 % in today’s trade. Among the 13 sectoral indices in BSE, 3 sectors ended with losses while 10 sectors closed with gains.  Top three gainers of the BSE sectoral indices are: BSE CG up by 2.41%, BSE Realty up by 2.12%, BSE Oil&Gas up 1.17%. Top 3 loosing sectors were: BSE IT slipping 0.96%, BSE TECk down by 0.23% and BSE HC down by 0.04%.

The advance decline ratio was however only marginally in favor of the bulls. Of the 2930 stocks traded on the BSE, 1441 (49.18%) rose, 1359 (46.38%) fell and 130 (4.44%) stocks remained unchanged.

Market outlook for tomorrow

Apart from Japan’s Nikkei all the Asian markets ended with gains today. Japan’s Nikkei lost 1.27 % in today’s trade. Jakarta Composite gained 1.14 %, Hang Sang index in Hong Kong gained 0.25 %, China’s Shanghai Composite ended higher by 0.87 %, and KOSPI Index was up by 0.20 %. Markets in Taiwan ended higher by 0.22 % and Straits Times gained 0.21 %.

European markets are also trading with gains after discounting the fear economic slowdown in euro zone due to the inconclusive result in Italy’s election result. FTSE index in UK is at present trading up by 0.75 %, the CAC index in France is up by 1.62 %, DAX index in Germany is up by 0.80 % and AEX Amsterdam Index is up by 0.50 %. US stock markets are also trading with definite gains and are all set to close positive. Dow Jones Industrial Average is trading higher by 0.65 %, while Nasdaq Composite Index is also up by 0.84 %.

Thus the broad outlook for tomorrow’s market seems to be positive. Though much will depend on the budget, but the stage seems to be ready for a budget which will boost the market sentiment in a broad way. Economic survey also points to an end to the downturn. Mr. Chidambaram under the guidance of Dr. Manomahon Singh is committed to ease the fiscal deficit and inflation figure smoothening country’s GDP growth. Tomorrow being the last day of the derivative expiry may witness unwinding of more short positions which will push the market north.

Daily stock market review and outlook

Global sell off sent Indian stock indices to a tail spin today. Concern over Italy's inconclusive election result raised renewed political instability to the euro zone and sparked of a sell off across world equity markets on Tuesday, hitting Indian market as well. Lower yield of German bond yields sent signals of a resurgence of the euro zone debt crisis also had its negative impact on the world market. Adding to the pain, the Railway Budget 2013-14 presented by the Railway Minister, Pawan Kumar Bansal was unable to deliver any positive surprises and as such couldn’t help the dilapidated sentiment of the market.

The 30-share BSE Sensex closed lower by 316.55 points to end the day’s trading at 19015.14. The Sensex hit to a day's high of 19293.49 and a fell to a day's low of 18976.94. It opened at 19290.66. The broader indices, NSE Nifty lost as much as 93.40 points, to end the day’s trading at 5761.35. The 50-share Nifty touched a day's high of 5838.85 and a day's low of 5748.60. It opened at 5838.30.

Of the 50-share Nifty pack only 8 stocks ended with gains while the rest 42 stocks closed with loses. The top 5 gainers among NSE stocks are: Bharti Airtel surging by 1.56 %, followed by TCS (1.54 %), Infosys (1.44 %), Grasim (0.84 %) and NTPC (0.77 %). The top 5 losers among NSE socks are: Hindalco (4.59 %), Bajaj Auto (4.38 %), Ranbaxy (3.95 %), HDFC (3.80 %) and ONGC (3.63 %).

Of the 30 shares of BSE index components, only 5 stocks ended in positive terrain, while the rest 25 stocks closed in negative zone. The top and only 5 gainer in BSE Sensex stocks are TCS surging by 1.56 %, followed by Infosys (1.47 %), Bharti Airtel (1.38 %) NTPC (0.73 %) and HUL (0.11 %). The top 5 losers of the Sensex pack were: Hindalco (4.49 %), Bajaj Auto (4.20 %), HDFC (3.74 %), ONGC (3.74 %) and RIL (3.51 %).

Both BSE Mid Cap and Small Cap index closed with huge losses. Both BSE Midcap index and BSE Smallcap index fell by over 2 % in trade today. All the 13 sectoral indices in BSE, closed with heavy losses. Top 3 loosing sectors were: BSE Oil&Gas down by 3.07%, BSE Auto down by 2.76% and BSE CG down by 2.44%. Remaining sectors ended lower in the range of 0.89% to 2.30%.

The advance decline ratio was heavily in favor of the bears. Of the 2961 stocks traded on the BSE, 774 (26.14 %) rose, 2072 (69.98 %) fell and 115 (03.88 %) stocks remained unchanged.

Market outlook for tomorrow

All the Asian markets ended with heavy losses. Japan’s Nikkei was down by 2.26 %, Jakarta Composite was down by 0.70 %, Hang Seng index in Hong Kong lost 1.32 %, China’s Shanghai Composite ended lower by 1.40 %, KOSPI Index was down by 0.47 %, markets in Taiwan ended lower by 0.84 % and Straits Times lost 1.05 %.

European markets are also trading with heavy losses after inconclusive outcome of Italy’s election result. FTSE index in UK is at present trading down by 1.42 %, the CAC index in France is down by 2.71 %, DAX index in Germany is down by 2.31 % and AEX Amsterdam Index is lower by 1.52 %. US stock markets are also trading mixed at this moment and is trying to come out of the ghost of negative European market. Dow Jones Industrial Average is trading higher by 0.40 %, while Nasdaq Composite Index is down by 0.13 %.

Thus the broad outlook for tomorrow’s market continue to be bearish. However a positive closing of markets in the U.S may boost the market sentiment but don’t expect much upswing before the union budget on Thursday, which also happens to be the expiry of derivatives. But keeping in mind that the short selling position in the market is high, some covering may happen in specific stocks.

Daily stock market review and outlook

Worries and concern as to how the finance minister will manage to meet the government's 4.8 percent fiscal deficit target for 2013/14, while still trying to revive growth amid persistent inflation and that too with general elections expected next year, didn’t allow the Indian stock market to move higher. Although there was quite enough global cues to boost the market. Derivative expiry on Thursday also dragged the markets down whenever it tried to edge higher. The highlight of today’s market was however the sudden crash of Mid-Cap crash of Mid-Cap and the Small-Cap stocks which witnessed a major sell-off. The sell-off has been so unprecedented and huge that the matter is being probed by SEBI.

The 30-share BSE Sensex closed marginally higher by 14.68 points to end the day’s trading at 19331.69. The Sensex surged to a day's high of 19411.18 and a fell to a day's low of 19237.98. It opened at 19365.33. The broader indices, NSE Nifty gained 4.45 points, to end the day’s trading at 5854.75. The 50-share Nifty touched a day's high of 5878.40 and a day's low of 5825.00. It opened at 5870.55.

Of the 50-share Nifty pack 24 stocks ended with gains while the rest 26 stocks closed with loses. The top 5 gainers among NSE stocks are: Ranbaxy surging by 4.91 %, followed by Power Grid (2.75 %), Infosys (2.72 %), Tata Motors (2.13 %) and HCL Tech (1.85 %). The top 5 losers among NSE socks are: DLF (3.48 %), J.P.Associates (3.20 %), Cipla (2.71 %), L&T (2.33 %) and ONGC (1.85 %).

Of the 30 shares of BSE index components, 16 stocks ended in positive terrain, while the rest 14 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are Infosys surging by 2.84 %, followed by Tata Motors (2.06 %), Hero MotoCorp (1.42 %) BHEL (1.29 %) and TCS (1.16 %). The top 5 losers of the Sensex pack were: Cipla (2.60 %), L&T (2.30 %), Coal India (1.99 %), ONGC (1.81 %) and RIL (1.01 %).

Both BSE Mid Cap and Small Cap index closed with huge losses on a day when both BSE Sensex and NSE Nifty closed with gains. The BSE Midcap index declined 1.20% and the BSE Smallcap index fell 1.36% in trade today. Among the 13 sectoral indices in BSE, only 4 sectors closed with gains, while the remaining 9 sectors closed with losses. The top 3 gaining sectors were: BSE IT up by 1.86%, BSE TECk up by 1.28%, BSE Auto up by 0.78%. Top 3 loosing sectors were: BSE Realty slipping by 2.39%, BSE CG down by 1.68% and BSE Metal down by 1.08%

The advance decline ratio was heavily in favor of the bears. Of the 2944 stocks traded on the BSE, 897 (30.47 %) rose, 1279 (43.44 %) fell and 768 (26.09 %) stocks remained unchanged.

Market outlook for tomorrow

Asian markets were mostly higher today. Japan’s Nikkei was up by 2.43 %, Jakarta Composite was up by 0.97 %, Hang Seng index in Hong Kong gained 0.17 %, China’s Shanghai Composite ended higher by 0.50 %, KOSPI Index was down by 0.46 %, markets in Taiwan ended lower by 0.49 % and Straits Times gained 0.02 %.

European markets are trading mixed as investors kept a close eye on elections in Italy, the outcome of which could impact economic reform. FTSE index in UK is at present trading up by 0.01 %, the CAC index in France is up by 0.15 %, DAX index in Germany is up by 0.94 % and AEX Amsterdam Index is lower by 0.20 %. US stock markets are also trading mixed at this moment. Dow Jones Industrial Average is trading lower by 0.07 %, while Nasdaq Composite Index is up by 0.14 %.

Meanwhile, foreign institutional investors (FIIs) continued to remain bullish on India. Continuing their buying spree, FIIs bought shares worth a net Rs 280.30 crore last Friday as per provisional data from bourses.

Thus the broad outlook for tomorrow’s market is bearish. However indications of a budget aiming at controlling the fiscal deficit may boost the market. Tomorrow’s rail budget may be an indicator of government’s budgetary outlook. As the passenger fare has already been hiked in January, so that will probably be kept untouched. But if freight charges are increased, market may cheer up and could head north.