Post Session: Quick Review

Trade remained well in control of the bulls for second consecutive session, which gained strength in afternoon deals to clock a positive session of trade on Friday. After appearing shaky in the morning deals, benchmarks took off well from thereon and ended near day’s highest point, with gains of over a percent.

Bargain-hunting by market-participants for second consecutive sessions after four-days losing streak, mainly got the bulls going. Further, rupee’s recovery from 65/$ level sans RBI’s support amidst mostly positive regional counterparts, also contributed to the uptrend. By the close of trade, Sensex and Nifty reclaimed the crucial 18,500 and 5,450 psychological levels respectively. However, for the week, Sensex lost over half a percent, while Nifty slid by 0.40%. Meanwhile, CNX Midcap was down by huge one and half a percent for the week, BSE Smallcap index lost 0.40%.

On the global front, Asian shares mostly ended higher on Friday as economic data suggesting the global economy is expanding, took the edge of persistent fears that the US Federal Reserve will likely start withdrawing stimulus next month. On the flip side, European shares were lower in morning trade on Friday as investors paused for breath after a broad rally in Thursday's session as better-than-expected data boosted optimism on global growth.

Closer home, sentiment also got some support after Finance Minister P Chidambaram said yesterday that revival and encouragement of growth will continue to be the focus of the government. On the BSE sectoral front, stocks from Capital Goods, Banking and Oil & Gas counters gained maximum traction, while those from Realty, HealthCare and Technology suffered some profit booking. Meanwhile, Aviation stocks also galloped on bargain-buying, with Jet Airways soaring over 6% and Spicejet advancing over 4%.  The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1343: 973, while 152 scrips remained unchanged. (Provisional)

The BSE Sensex gained 188.80 points or 1.03% to settle at 18501.74.The index touched a high and a low of 18546.60 and 18210.75 respectively.  The BSE Mid cap and Small cap indices ended higher by 0.92% and 0.71% respectively. (Provisional)

On the BSE Sectoral front, Capital Goods up by 1.85%, Bankex up by 1.74%, Oil & Gas up by 1.52%, Consumer Durables up by 1.48% and Auto up by 1.39% were the top gainers, while Realty down by 1.23% were the only losers in the space. (Provisional)

Out of the 30 stocks on the Sensex, 23 settled higher, while 7 stocks settled lower. The top gainers on the Sensex were BHEL up by 8.10%, Tata Power up by 4.20%, Jindal Steel up by 3.22%, ONGC up by 2.96% and Tata Steel up by 2.84%. On the flip side, Bharti Airtel down by 1.74%, NTPC down by 1.60%, Cipla down by 1.18%, SBI down by 0.75% and Infosys down by 0.51% were the top losers on the Sensex. (Provisional)

Meanwhile, expressing need to boost investment into the country, the Federation of Indian Chambers of Commerce and Industry (FICCI) said that the government should focus on bringing more reforms to kick start investments and set the economic growth rolling on the fast track. Indian economy’s growth is likely to remain flat in the first quarter of the current fiscal on account of sluggish economic conditions. 

Pointing out that, Finance Minister P Chidambaram's statement on growth being the key focus area as encouraging, FICCI president Naina Lal Kidwai said that presently there is need to return the investment cycle into the country and to continue the momentum on the reform front. By adding further, she added that India should focus on introducing goods and services tax (GST) and speed up the implementation of infrastructure projects cleared by Cabinet Committee on Investment (CCI) and restart investments.

At present, Indian economy is struggling with slowdown and all macro-economic indicators are deteriorating. Recently, domestic currency depreciated to a record low of over 65 per dollar on account of high current account deficit (CAD), which widened due to high gold imports and crude oil prices. In the last fiscal year, India’s economic growth slowed down to decade low of 5 percent owing to the poor performance of farm, manufacturing and mining sectors. India VIX, a gauge for markets short term expectation of volatility lost 6.97% at 25.75 from its previous close of 27.68 on Thursday. (Provisional)

The CNX Nifty gained 60.25 points or 1.11% to settle at 5,468.70. The index touched high and low of 5,478.80 and 5,377.80 respectively. Out of the 50 stocks on the Nifty, 32 ended in the green, while 18 ended in the red.

The major gainers of the Nifty were BHEL up 8.10%, Tata Power up by 5.09%, HCL Tech up by 5.06%, JP Associate up by 4.20% and Jindal Steel & Power up by 3.64%. The key losers were DLF down by 4.87%, UltraTech Cement down by 3.58%, Sesa Goa down by 2.21%, Bharti Airtel down by 1.73% and Cipla down by 1.35%.(Provisional)

Most of the European markets were trading in green with, Germany’s DAX up by 0.02% and the United Kingdom’s FTSE 100 up by 0.22%, while France’s CAC 40 down by 0.43%.