Published on March 1, 2014
India Market Summary for the week ended 28-2-2014 I Review of the Week Market review for the week ended 28 February 2014 • Market edged higher during the week on resumption of buying of Indian stocks by foreign institutional investors (FIIs). • Nifty attained its highest closing level in more five weeks • The Sensex moved past the psychological 21,000 mark on the last trading session of the week and the month on Friday, 28 February 2014. • Market gained in all the four trading sessions in of a truncated week. • The stock market was closed on Thursday, 27 February 2014, on account of Mahashivratri. • Sensex attains 5-week high as FIIs resume buying. • Sensex garnered 2.02% to settle at 21,120.12 and Nifty garnered 1.97% to settle at 6,276.95 for the week ended 28 February 2014
India Market Summary for the week ended 28-2-2014 Government Policies during the week • Nil Economic data • Contracting industrial output and an investment slowdown dragged India's economic growth to a worse-than-expected 4.7 percent in the three months to December,
Corporate Announcements • ITC rose 3.15%. Reliance Industries (RIL) dropped 1.49%. RIL on Thursday, 27 February 2014, said that allegations that foreign direct investments in certain Indian companies by Biometrix, a Singapore-based company, are "laundered monies" invested in India are completely false. • Pharma stocks edged higher on renewed buying. Sun Pharmaceutical Industries (up 4.62%), and Cipla (up 4.08%) gained. • Dr. Reddy's Laboratories announced that it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 mL, for subcutaneous use in the US market on 25 February 2014. . • The IMITREX STATdose Pen (Sumatriptan succinate) brand and generic combined had US sales of approximately $169 million for the most recent twelve months ending in December 2013 according to IMS Health. • Sesa Sterlite dropped 4.52%. Tata Steel slumped 7.98%. The stock was the second biggest loser from the Sensex pack. • Hindalco Industries surged 7.52%. The stock was the second biggest gainer from the Sensex pack. IT stocks gained across the board. Wipro rose 4.36%. • Infosys gained 1.83% Infosys BPO, a subsidiary of Infosys, on Thursday, 27 February 2014, unveiled its Process Progression Model (PPM), a holistic and innovative framework to accelerate optimization and endto-end transformation of business processes. • Bharat Heavy Electricals (Bhel) surged 11.1%. The stock was the biggest gainer from the Sensex pack. The company said it has won a contract worth Rs 321 crore for setting up a 206 megawatts hydro electric project in Punjab.
Corporate Announcements • L&T rose 5.39%. L&T Construction has won new orders worth Rs 5220 crore across various business segments in January and February 2014. • Mahindra & Mahindra (M&M) rose 4.76%. M&M's consolidated net profit fell 1.93% to Rs 1230 crore in Q3 December 2013 over Q3 December 2012. Consolidated gross revenue and other income rose 8.5% at Rs 20679.90 crore in Q3 December 2013 over Q3 December 2012. • Maruti Suzuki India (MSIL) dropped 5.28%. MSIL on Thursday, 27 February 2014, clarified that the Suzuki Motor Corporation's (SMC) subsidiary in Gujarat (Sub) would operate on the basis that while it would not make any losses, it would also not accumulate any cash surpluses. • Tata Motors advanced 5.33% to Rs 417.05. Shares of two-wheeler companies edged higher. Hero MotoCorp rose 2.44%. Bajaj Auto gained 4.56%. • Tata Power Company rose 0.19%. Tata Power Company said that the company's Board of Directors at its meeting held on Thursday, 27 February 2014, has approved raising funds upto Rs 2000 crore by way of a rights issue of equity shares, subject to all applicable statutory and regulatory approvals. • State Bank of India (SBI) rose 1.9%. The state-run bank said that a meeting of the board of directors of the bank will be held on 3 March 2014, inter alia, to consider, and if thought fit, declare interim dividend for the financial year ending 31 March 2014. • Among other bank stocks, HDFC Bank (up 0.41%) and ICICI Bank (up 1.85%) gained. • NTPC dropped 14.79%. The stock was the biggest loser from the Sensex pack. NTPC said that the Central Electricity Regulatory Commission (CERC) has issued CERC (Terms and conditions of tariff) Regulations, 2014 which shall come into force from 1 April 2014 and shall remain in force for a period of 5 years from the date of commencement.
India Market Summary for the week ended 28-2-2014 Top Gainers and Losers of the week (NSE) PRICE ON COMPANY BHEL HINDALCO BANK OF BARODA LUPIN LTD AXIS BANK PRICE ON Feb 28, 2014 (Rs) 167.75 105.35 551.15 995.45 1,267.05 Feb 21, 2014 (Rs) 150.6 97.65 518 935.8 1,193.35 PRICE ON COMPANY NTPC TATA STEEL NMDC LTD MARUTI SUZUKI SESA STERLITE PRICE ON Feb 28, 2014 (Rs) 112.4 343.8 127.5 1,589.00 177.65 Feb 21, 2014 (Rs) 132.45 374.4 137.15 1,675.60 186 CHANGE (%) 11.40% 7.90% 6.40% 6.40% 6.20% CHANGE (%) -15.10% -8.20% -7.00% -5.20% -4.50%
India Market Summary for the week ended 28-2-2014 II Forth coming week Government policies / announcements • Reserve Bank of India next undertakes monetary policy review on 1 April 2014 Economic data • Indian stocks will on Monday, 3 March 2014, react to data on India's gross domestic product (GDP) for Q3 December 2013 • Auto stocks will be in focus as companies from this sector will start reporting sales volume data for the month of February 2014 starting from Saturday, 1 March 2014 • Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories for February 2014 on Monday, 3 March 2014 • Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for February 2014 on Wednesday, 5 March 2014
India Market Summary for the week ended 21-2-2014 Market outlook • Monthly manufacturing, services sector data in focus. • Macroeconomic data, trend in investment by foreign institutional investors, trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement will dictate the near term movement on the domestic bourses. • On the global data front, Markit Economics will unveil HSBC China Manufacturing PMI, which gauges the business activity of China's factories for February 2014 on Monday, 3 March 2014. • A policy meeting of the Governing Council of the European Central Bank (ECB) will be held on Thursday, 6 March 2014, in Frankfurt to decide euro zone interest rates • A two-day meeting of Bank of England's Monetary Policy Committee (MPC) will be held on Wednesday 5 March 2014 and Thursday 6 March 2014 to decide interest rates in UK • The Federal Open Market Committee (FOMC) next undertakes monetary policy review on 18-19 March 2014. After a monetary policy review, the FOMC on 29 January 2014 announced it will reduce monthly bond purchases by another $10 billion to $65 billion
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1.India Market Summary for the week ended 28-2-2014 I Review of the Week Market review for the week ended 28 February 2014• Market edged higher during ...