Investors Will Focus on the Next Batch of Q4
The market declined last week on profit booking, triggered by the India Meteorological Department(IMD) on 24 April 2014, announcing that the country will likely get below-normal levels of monsoon rain this year. Key benchmark indices declined in all four trading sessions in the week. The stock market was shut on Thursday, 1 May 2014, on account of May Day. The S&P BSE Sensex fell 284.18 points or 1.25% to 22,403.89. The 50-unit CNX Nifty fell 87.95 points or 1.30% to 6,694.80.
The S&P BSE Mid-Cap index fell 16.18 points or 0.22% to 7,357.46 and the S&P BSE Small-Cap index fell 64.53 points or 0.85% to 7,532.81. Both these indices outperformed the Sensex. Foreign institutional investors (FIIs) bought shares worth a net Rs 9602.40 crore in April 2014. FIIs purchased shares worth a net Rs 20077.20 crore in March 2014. FIIs have bought shares worth a net Rs 32377.60 crore in this calendar year so far (till 30 April 2014). FIIs bought shares worth a net Rs 113135.70 crore in 2013 calendar year.
Nifty Technical
On the weekly chart of nifty we can see nifty has started its profit booking from its higher levels. This profit booking can continue to the level of 6550 in lower side. So investor with long position should once book their profit and trader with short position can hold their shorts with strict stop loss of 6800 for target price of 6500-6550.
Upcoming Events
Investors will focus on the next batch of Q4 and year ended 31 March 2014 (FY 2014) results next week. Trend in investment by foreign institutional investors (FIIs), trend in global markets, trend in other global emerging markets the movement of rupee against the dollar and crude oil price movement will be watched. Emami and Piramal Enterprises will announce their January-March 2014 quarter results on Monday, 5 May 2014.Gillette India, HDFC and Titan Company will announce their January-March 2014 quarter results on Tuesday, 6 May 2014.Lupin, Procter & Gamble Hygiene and Health Care and
Syndicate Bank will announce their January-March 2014 quarter results on Wednesday, 7 May 2014.
Glenmark Pharmaceuticals and Union Bank of India will announce their January-March 2014 quarter results on Thursday, 8 May 2014. Coromandel International, Eicher Motors, GlaxoSmithKline Consumer Healthcare and Ranbaxy Laboratories will announce their January-March 2014 quarter results on Friday, 9 May 2014. On the macro front, Market Economics will unveil the result of a monthly survey on the performance of India's services sector for April 2014 on Tuesday, 6 May 2014.
Fortnightly Headlines
1) Setco Automotive forms joint venture with Spain-based Lingotes Especiales.
2) Nissan India sales up over four-fold in April.
3) Tata Motors sales decline 34% in April.
4) TVS Motor sales up 15 per cent in April.
5) Bajaj Auto bike sales decline marginally in April.
6) SKS Microfinance says Vikram Akula no more its promoter.
7) Public sector banks to sell Rs 2,000 crore of bad loans to asset reconstruction companies.
8) Bisleri opens plant in Dhaka.
9) Anil Ambani along with Singapore-based wine investor Ravi Vishwanathan to buy 30% stake in Sula for Rs 200 crore.
10) GVK awaits coal supply to start power plant in Punjab.
11) DERC rejects power discoms' request to raise surcharge.
12) GMR completes divestment of Istanbul airport, gets Rs 1,740 cr.
13) IRB Infra bags Rs 3,200 cr road project in Maharashtra.
The S&P BSE Mid-Cap index fell 16.18 points or 0.22% to 7,357.46 and the S&P BSE Small-Cap index fell 64.53 points or 0.85% to 7,532.81. Both these indices outperformed the Sensex. Foreign institutional investors (FIIs) bought shares worth a net Rs 9602.40 crore in April 2014. FIIs purchased shares worth a net Rs 20077.20 crore in March 2014. FIIs have bought shares worth a net Rs 32377.60 crore in this calendar year so far (till 30 April 2014). FIIs bought shares worth a net Rs 113135.70 crore in 2013 calendar year.
Nifty Technical
On the weekly chart of nifty we can see nifty has started its profit booking from its higher levels. This profit booking can continue to the level of 6550 in lower side. So investor with long position should once book their profit and trader with short position can hold their shorts with strict stop loss of 6800 for target price of 6500-6550.
Upcoming Events
Investors will focus on the next batch of Q4 and year ended 31 March 2014 (FY 2014) results next week. Trend in investment by foreign institutional investors (FIIs), trend in global markets, trend in other global emerging markets the movement of rupee against the dollar and crude oil price movement will be watched. Emami and Piramal Enterprises will announce their January-March 2014 quarter results on Monday, 5 May 2014.Gillette India, HDFC and Titan Company will announce their January-March 2014 quarter results on Tuesday, 6 May 2014.Lupin, Procter & Gamble Hygiene and Health Care and
Syndicate Bank will announce their January-March 2014 quarter results on Wednesday, 7 May 2014.
Glenmark Pharmaceuticals and Union Bank of India will announce their January-March 2014 quarter results on Thursday, 8 May 2014. Coromandel International, Eicher Motors, GlaxoSmithKline Consumer Healthcare and Ranbaxy Laboratories will announce their January-March 2014 quarter results on Friday, 9 May 2014. On the macro front, Market Economics will unveil the result of a monthly survey on the performance of India's services sector for April 2014 on Tuesday, 6 May 2014.
Fortnightly Headlines
1) Setco Automotive forms joint venture with Spain-based Lingotes Especiales.
2) Nissan India sales up over four-fold in April.
3) Tata Motors sales decline 34% in April.
4) TVS Motor sales up 15 per cent in April.
5) Bajaj Auto bike sales decline marginally in April.
6) SKS Microfinance says Vikram Akula no more its promoter.
7) Public sector banks to sell Rs 2,000 crore of bad loans to asset reconstruction companies.
8) Bisleri opens plant in Dhaka.
9) Anil Ambani along with Singapore-based wine investor Ravi Vishwanathan to buy 30% stake in Sula for Rs 200 crore.
10) GVK awaits coal supply to start power plant in Punjab.
11) DERC rejects power discoms' request to raise surcharge.
12) GMR completes divestment of Istanbul airport, gets Rs 1,740 cr.
13) IRB Infra bags Rs 3,200 cr road project in Maharashtra.
