Wish all the readers a very Happy New Year. Hope we were provided you the stuffs required to keep you abreast with the market happening and helped in creating wealth for you. It is our endeavor to help you in making profit and keep you ahead of others !!!
NIFTY- 6, 011
CRUDE OIL-Rs 4, 243/ barrel
GOLD-Rs 20,369/ 10 gram
Rs/$-Rs 45.23
MARKET ROUND UP:
Sensex moved up by 209 points or 1.05% to close at 20, 074 during the week ended 24th December, 2010. On the other hand Nifty moved up by 63 points or 1.05% to close the week at 6, 011.
Mid-cap stocks rose 59.19 points, or 0.78%, to 7,627.2 in the week. While small-cap shares rose 170.43 points, or 1.86%, to 9,354.43 during the week.
Indian market closed the week on the positive note on back of positive international cue and support from the domestic institutional investors. Low participation was seen from the FII. Tension in the Korean peninsula seemed to be easing out.
Metal, IT and Auto climbed during the week in the sectoral space. However, Capital goods, PSU and Oil & gas marginally declined.
Inflation:
Food Inflation surged back into double-digit territory at 12.13% for the week ended December 24 as the prices of vegetables, particularly onions, rose for the third consecutive week.
Deal of the Week:
JSW Steel acquired 41% stake in Ispat for Rs 21.57 billion by subscribing to 1,087 million fresh equity shares. The enterprise value and equity valuation post transaction are Rs 11.5 billion and Rs 52.6 billion, respectively.
MAJOR SECTORAL GAINERS:
AUTO | 1.28% |
BANKEX | 0.44% |
CONSUMER DURABLE | 0.24% |
FMCG | 1.17% |
HEALTH CARE | 0.33% |
IT | 1.79% |
METAL | 3.94% |
POWER | 0.05% |
MAJOR SECTORAL LOSERS:
CAPITAL GOODS | -0.90% |
OIL & GAS | -0.43% |
PSU | -0.61% |
REALTY | -0.25% |
MAJOR GAINERS IN NIFTY:
HERO HONDA | 14.80% |
R-COM | 10.10% |
STERLITE IND | 7.20% |
MAJOR LOSERS IN NIFTY:
BPCL | -3.87% |
TATA MOTORS | -3.05% |
KOTAK BANK | -2.86% |
TREND IN GLOBAL MARKET DURING THE WEEK:
| NIFTY | | SENSEX | |
| VALUE | % CHANGE | VALUE | % CHANGE |
1 WEEK | 5948 | 1.05% | 19865 | 1.05% |
1 MONTH | 5865 | 2.50% | 19459 | 3.10% |
3 MONTHS | 6018 | -0.11% | 20045 | 0.10% |
6 MONTHS | 5251 | 14.50% | 17730 | 13.25% |
1 YEAR | 5169 | 16.30% | 17343 | 15.90% |
Eyes will be set on the certain US economic data releases are:
Monday
No major data is to be released on Monday.
Tuesday
Consumer Confidence
State Street Investor Confidence Index
Wednesday
EIA Petroleum Status Report
Thursday
Jobless Claims
Chicago PMI
Pending Home Sales Index
EIA Natural Gas Index
Money Supply
Fed Balance Sheet
Friday
No Data
FII TREND DURING THE WEEK:
(Figures in Crore)
20/12/2010 | -133.5 |
21/12/2010 | -32.6 |
22/12/2010 | 224.6 |
23/12/2010 | -23.7 |
FII were net buyer during the week to the tune of Rs 34.8 crore.
Fundamental Picks of the Week:
Agro Tech Target Rs 425
PVR Target Rs 230
Usher Agro Target Rs 120
KEY EVENTS DURING THE WEEK:
Indian refiners processed less crude for the fourth straight month in November from a year ago. This is mainly due to repair work at RIL.
Advance tax payments by India’s top 100 corporate tax payers rose 18.7% in December from a year ago.
Most banks and industry players preferred a high startup capital of around Rs 1000 crore for new banks in the private sectors.
Bank borrowed Rs 157,625 crore from the RBI reflecting the cash crunch in the system.
Union Bank of India has increased its benchmark prime lending rate by 50 basis to 13.25%.
New home sales in US in November increased by 5.5% to annual rate of 290, 000 on MoM.
Consumer sentiment in US showed improvement in the month of December.
Jobless claims in US declined by 3000 to 420, 000 in the week ended 18th December.
Fitch downgraded the sovereign rating of Portugal.
Euro Zone current account deficit widened in the month of October.
Japan saw a merchandise trade surplus of 162.8 billion yen in November down 55.4% from a year earlier.
CLOSE WATCH FOR WEEK AHEAD:
Year end won`t be seeing much of the action. Market is expected to trade in very narrow range.
TECHNICALS:
S3 | S2 | S1 | NIFTY | R1 | R2 | R3 |
5, 780 | 5, 940 | 5, 995 | 6, 011 | 6, 035 | 6, 080 | 6, 180 |
Nifty is showing the bullish pattern on chart. Resistance at 6, 035 is expected as it is 50 DMA. Nifty moves above it another 100 points could be added.
On downside Nifty has support at 5, 940. 14 DAY RSI is at 53, which show a bit of upside could be expected before it enters the overbought zone.
CONCLUSION:
On back of year end we expect lack luster trading could be seen during this week. Lower participation from FII will keep the market in the narrow range. So this week will have a subdued trading. Not much of the activity will make trading difficult.
HAPPY INVESTING & HAPPY NEW YEAR.…
