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Benchmarks trim losses; trade continues in green

15 Dec 2014 Evaluate

Indian equity markets trimmed losses and started trading in green in the late afternoon session on account of buying in frontline blue chip counters. India’s wholesale price index showed no increase in November for the first time in near 5-1/2 years as oil prices tumbled, building a case for the Reserve Bank to start lowering interest rates early next year to help prop up economic growth, added optimism on the street. Traders were seen piling positions in Bankex, PSU and Infra stocks while selling was witnessed in IT, Consumer Durables and Realty sector stocks. In scrip specific development, Tata Consultancy Services (TCS) was trading in red on worries that growth may be muted after the company stated that it expects revenues in December 2014 quarter to be in-line with seasonal trends.

On the global front, the Asian markets were trading mostly in red while the European markets were trading mostly on optimistic note. Back home, the NSE Nifty and BSE Sensex were trading above the psychological 8,200 and 27,300 levels respectively. The market breadth on BSE was negative in the ratio of 1064:1595 while 109 scrips remained unchanged.

The BSE Sensex is currently trading at 27386.85, up by 36.17 points or 0.13% after trading in a range of 27105.04 and 27391.50. There were 14 stocks advancing against 16 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.19%, while Small cap index down by 0.25%.

The gaining sectoral indices on the BSE were Bankex up by 0.63%, PSU up by 0.35%, INFRA up by 0.11%, Metal up by 0.02%, Auto up by 0.02% while, IT down by 1.60%, Consumer Durables down by 1.45%, Realty down by 1.33%, TECK down by 1.15%, FMCG down by 0.59% were the losing indices on BSE.

The top gainers on the Sensex were HDFC up by 4.73%, Coal India up by 2.72%, ONGC up by 2.09%, Sun Pharma up by 1.06% and Hero MotoCorp up by 1.00%. On the flip side, TCS down by 3.05%, Sesa Sterlite down by 2.13%, Cipla down by 1.08%, NTPC down by 0.90% and GAIL India down by 0.68% were the top losers.

Meanwhile, in order to meet the set disinvestment target, the government has planned to speed up the stake sales programme in public sector units in the next three months. Concerns over the government’s disinvestment programme and its ability to meet the Rs 63,425 crore target for current fiscal from stake sales in PSUs such as Coal India, ONGC and NHPC among others have begun mounting.

At present, the government shareholding in the Coal India is 89.65 percent and will disinvest 10 percent stake worth around Rs 23,000 crore. Government stake in ONGC stands at 68.94 percent and will disinvest 5 percent stake worth Rs 16,000 crore. Besides these two, 11.36 percent disinvestment in hydro power generator NHPC has also been approved. The government holds 85.96 percent stake in company and expects to garner worth Rs 2,800 crore. The government is also trying to get clarity on the residual stake sales in Hindustan Zinc and Balco that are estimated to raise at least Rs 15,000 crore.

With tax collections registering low growth, proceeds from stake sales are crucial to meet the fiscal deficit target at 4.1 percent of GDP in FY15. Furthermore, the government is likely to take advantage of robust state of domestic stock markets helped by heavy inflow of funds from the foreign institutional investors (FIIs).

The government has been missing its disinvestment target for past five consecutive financial years. In the previous fiscal, the government was able to disinvest only around Rs 16,000 crore as against the set target of Rs 40,000 crore mainly on account of subdued economic and markets conditions. During FY11 and FY12, the government had raised Rs 22,144 crore and Rs 13,894 crore through disinvestment, against the budgeted target of Rs 40,000 crore in each year. In FY13, it had raised Rs 23,956 crore, as against the target of Rs 30,000 crore.

The CNX Nifty is currently trading at 8228.20, up by 4.10 points or 0.05% after trading in a range of 8152.50 and 8237.00. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were HDFC up by 4.75%, Kotak Mahindra Bank up by 4.45%, Coal India up by 2.88%, Zee Entertainment up by 1.78% and ONGC up by 1.77%. On the flip side, BPCL down by 4.45%, DLF down by 3.09%, TCS down by 3.04%, Tech Mahindra down by 3.02% and Sesa Sterlite down by 2.94% were the top losers.

The Asian markets were trading mostly in red; Nikkei 225 decreased 272.18 points or 1.57% to 17,099.40, Hang Seng decreased 221.35 points or 0.95% to 23,027.85, Jakarta Composite decreased 53.93 points or 1.05% to 5,106.50, Taiwan Weighted decreased 41.7 points or 0.46% to 8,985.63, FTSE Bursa Malaysia KLCI decreased 36.73 points or 2.12% to 1,696.26, Straits Times decreased 33.01 points or 0.99% to 3,291.12 and KOSPI Index decreased 1.35 points or 0.07% to 1,920.36.

On the other hand, Shanghai Composite increased 15.25 points or 0.52% to 2,953.42.

The European markets were trading mostly in green; UK’s FTSE 100 increased 1.71 points or 0.03% to 6,302.34, Germany’s DAX increased 6.14 points or 0.06% to 9,600.87 while, France’s CAC decreased 1.38 points or 0.03% to 4,107.55.

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

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

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

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