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Markets to get a flat-to-positive start tailing global peers

09 Nov 2011 Evaluate

The Indian equity markets made a flat closing in last session, however the trade remained cautious throughout the day and benchmark indices managed to close in green on getting positive cues from European markets. Today, the start is likely to be cautious but some recovery can be expected after a slew of consolidation as the other global markets have moved higher on getting some good news from the Europe. The oil companies are likely to keep buzzing as the chairman of Prime Minister’s Economic Advisory Council, C Rangarajan has said that the central government is planning to deregulate the price of diesel and LPG. He also said that headline inflation would come down in the near future and that the country should quantify inflation based on Retail Price Index (RPI) like developed nations do, instead of Wholesale Price Index (WPI).On the same time the sugar companies are likely to remain under pressure as the UP state government has announced a hike in state advisory price for different varieties of sugarcane for the season 2011-12, which will increase the payment by mills to cane farmers to around Rs 15,000 crore this year as compared to that of Rs 13,000 last year. Export related stocks too are likely to be under pressure as India’s trade deficit widened the most in October in at least 17 years, Merchandise exports rose 10.8 percent to $19.9 billion last month from a year earlier. Imports gained 21.7 percent to $39.5 billion, causing a trade deficit of $19.6 billion. India’s trade gap increased as merchandise shipments grew at the slowest pace in two years after demand for engineering and petroleum products waned in Europe.

Meanwhile, the banking stocks may get some support as Reserve Bank of India’s, deputy governor Subir Gokarn has said that bad loans are not threatening the entire banking system and the policy guidance given so far would hold until further notice.

The US markets moved further high on Tuesday after Italian PM Berlusconi announced he would step down once key reforms promised to the European Union and aimed at calming market turmoil are adopted this month. The Asian markets have made a positive start tailing the US markets gain and the developments in Europe. Chinese markets are trading higher as the inflation cooled their to the slowest pace in five months which may help in loosening fiscal and monetary policy.

Back home, Indian stock markets commenced the holiday truncated week on a lackadaisical note as the benchmark equity indices hardly budged from their previous closing levels on Tuesday. The key indices oscillated in an extremely tight range through the session as market participants remained on the sidelines lacking conviction amid the persistent worries over global financial stability. The sentiments took support from positive developments from Greece where PM Papandreou agreed to step down, clearing the path for a new government and ensuring it receives its next round of aid. However, reports that Italian government bond yields soared to their highest since 1997 as Italian Prime Minister Silvio Berlusconi defied pressure to step down, kept sentiments weak. The domestic markets sneaked out some gains by the end of trade tracking the European counters, which surged by over one and half a percent on reports of an unexpected rise in German exports for a second month in September, helping Europe’s largest economy weather the sovereign-debt crisis. Back home, sentiments were pressured by India’s trade data which showed that nation’s trade deficit widened to its four-year high level at $19.6 billion since decelerating western economies adversely hit India’s exports performance. Meanwhile, most sugar stocks including Shree Renuka, Bajaj Hindustan, Balrampur Chini etc plunged in the session on reports that UP government has hiked Sugarcane prices by Rs 40 per quintal. Earlier on Dalal Street, the benchmark got off to a positive start in the morning trade as investors were largely influenced by the supportive leads from Asian markets. However, the indices dropped into the red terrain sooner than later, lacking any significant upside cues. However, the frontline gauges managed to pare the losses and rise above the neutral line in the dying hours of trade and settled in close proximity with previous closing levels. Moreover, the broader markets finished on a flat note in tandem with their larger peers. On the BSE sectoral space, the Consumer Durables index remained the top gainer in the space and settled with about a percent gains followed by the rate sensitive Oil & Gas pocket, which too went home with moderate gains. But the High beta Realty sector remained the top laggard in the space with over a percent cuts. Finally, the BSE Sensex gained 6.92 points or 0.04% to settle at 17,569.53, while the S&P CNX Nifty advanced by 5.15 points or 0.10% to close 5,289.35.

The US markets made extended their gains on Tuesday. The trade remained volatile in first part of the session but finally all the major indices gained around a percent for the day and the Dow was back over 12,000, and at its highest close since October 28 after Italian Prime Minister Silvio Berlusconi said he will step down after parliament passes economic reforms demanded by the European Union to save Italy from getting engulfed further in Europe's debt crisis. On the domestic front the investors got a boost from a good news about the US economy as the Labor Department reported that employers are advertising more jobs than at any point in the last three years.

The Dow Jones industrial average added 102.02 points, or 0.85 percent, to 12,170.41.The S&P 500 rose by 14.80 points, or 1.17 percent, to 1,275.94, while the Nasdaq ended higher by 33.24 points, or 1.20 percent, to 2,727.49.

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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