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Markets likely to get a flat to positive start, to take direction with start of global indices

27 Dec 2011 Evaluate

The Indian markets resumed the rally mood with the start of the F&O week, though lots of volatility was expected but the short covering in the blue-chips and surge in tech stocks took the markets higher. Today the start is likely to be a bit cautious as there is not much global cues, though there is good news from the domestic front, industrial growth in key infrastructure areas bounced back to 6.8 per cent in November after touching a five-year low of 0.3 per cent in October. Good growth in cement, electricity and refinery products led the rebound in eight core infrastructure sector. However,during April-November period, the cumulative growth rate of the core industries was 4.6 percent as against 5.6 percent during the corresponding period of the previous year. The telecom stocks are likely to keep buzzing as the Telecom Commission has accepted industry regulator Trai’s recommendations to relax rules for mergers and acquisitions in the sector and allow spectrum-sharing among telcos. The markets will take further direction with the start of European trading. Meanwhile, the Central government is preparing a vigorous policy agenda to attract foreign investment to shore up the value of the rupee the Indian currency depreciated around 20 per cent against the dollar on record outflow.

The US markets along with many European markets remained closed on Monday, unable to give any cue to the other global markets. Though, the investors will be testing the stocks in the last trading week of the year whether they have the strength to carry a rally into next year. However, the Asian markets have made a mixed start and while, the Chinese market is still looking in somber mood the Japanese market has lost its momentum after last sessions’ big gains.

Back home, a session after capitulating to late sell-off, Indian benchmark indices managed to pull through a scintillating performance by rallying around one and half a percentage points on the last Monday of the calendar year, thanks to the hefty short covering in the beaten down Technology and high beta Realty counters. The relentless across the board value picking ensured that the frontline indices settle closer to the psychological 4,800 (Nifty) and 16,000 (Sensex) levels amid the tentative recovery in risk appetite, amid thin trades a day after Christmas celebrations. The frontline indices hovering in a narrow range after the initial jump when the sentiments were partly lifted on hopes of strengthening US economic environment after a slew of economic reports suggested that the onerous Euro-zone debt trouble had little impact on the pace of world’s largest economy’s growth. The domestic markets outperformed their regional counterparts in the session. Earlier on Dalal Street, the benchmark got off to a flat opening with a positive bias following supportive leads from Asian markets, were sentiments remained optimistic in thin trades triggered by a slew of encouraging economic reports from the US. The frontline indices sooner than later capitalized on the momentum and crossed the psychological 15,900 and 4,750 levels. Thereafter, the indices kept oscillating in a narrow range through the day’s trade. However, hefty short covering in the late hours helped the indices to bounce to higher levels but mild resistance around the 16,000 and 4,800 levels pushed the key gauges back to a small extent by the end of trade. Nevertheless, the NSE’s 50-share broadly followed index - Nifty garnered close to one and half a percentage points to settle above the crucial 4,750 levels while Bombay Stock Exchange’s Sensitive Index - Sensex smashed a double century and closed just below the psychological 16,000 mark. Moreover, the broader markets too went home with notable gains in the session despite underperformig their larger peers. On the BSE sectoral space, the beaten down Technology counter remained the top gainer with over two and half a percent gains followed by the high beta Realty pocket which closed with over two percent gains. Finally, the BSE Sensex climbed 232.05 points or 1.47% to settle at 15,970.75, while the S&P CNX Nifty surged by 65.00 points or 1.38% to close 4,779.00.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

SEBI regional/local office address -

Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

Address:

The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Data provided by Accord Fintech Pvt. Ltd.

*Color code for outperformance consistency

*Number is average 3 year rolling returns

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