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from Expert Zone:
India Market Weekahead – Inflation, FII inflows to be key
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The bulls are back and their four-week winning streak saw the Nifty close at a 29-month high of 6107 on Friday, up about 2.75 percent for the week. Liquidity flows remain robust, fuelling the momentum despite political heat in New Delhi.
The Congress win in Karnataka boosted positive sentiment, followed by industrial output data that was marginally better than expectations. The overall earnings season has been favourable and along with the global rally provided the right environment for the markets to cross the psychological barrier of 6100 in the Nifty and 20000 on the Sensex. The only thing missing is euphoria on the street and broader participation by investors.
Politics was in the spotlight with the Congress romping to a comfortable win in the Karnataka assembly election. The victory in the key southern state took the sting out of the resignation of two cabinet ministers. Parliament had already been adjourned without a date.
The diesel price increase of 0.9 rupees per litre is more evidence that the government is not backing down from reform measures. But there is speculation the pace of reforms will now slow considerably as opposition parties have smelt blood.
from Expert Zone:
India Markets Weekahead: Time to wait and watch
(Any opinions expressed here are those of the author and not of Thomson Reuters)
A volatile week saw the Nifty closing 0.45 percent lower at 5528 after disappointing numbers from IT bellwether Infosys, which missed expectations on most parameters. The Bangalore-based company’s results also affected other IT stocks, with a number of them closing lower.
The markets have again proved that the biggest challenge for industry leaders is to manage expectations. Infosys, which was given a big thumbs-up after spectacular December quarter results, was pushed back to levels from where it had earlier risen like a Phoenix.
from Expert Zone:
India Markets Weekahead: Beware the Ides of March
(Any opinions expressed here are those of the author and not of Reuters)
Markets ended budget week below support levels of 5800/5840 and just when the six-month rally seemed over for good, it made a spirited V-shaped recovery to close at 5946 on Friday, with gains of 3.95 percent. The Street is divided with some expecting this to be the beginning of a new rally with the market scaling highs that it missed in February; others see it as a strong pullback which will fizzle out soon.
The government seems to be responding faster to allay investor fears. It was quick to respond to FII worries over proposed changes in tax residency certificates. Finance Minister P. Chidambaram has been assuring investors of continued policy measures, including the Direct Taxes Code (DTC) bill being introduced in the current parliament session.
from Expert Zone:
Budget 2013: An opportunity missed
(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)
Industry leaders have hailed Budget 2013 saying that this is the best Finance Minister P. Chidambaram could have done under the circumstances. Opposition leaders have slammed the budget. Each had their own compulsions but I feel the truth lies somewhere in between.
from Expert Zone:
Nifty to consolidate after crossing psychological barrier of 6000
High drama in parliament and volatility in the markets, albeit within a tight range, summarizes the action for the week.
Most in the analyst fraternity including myself expected the Nifty to cross the psychological barrier of 6000 after the FDI vote in parliament, but markets defied consensus once again and ended up a paltry 0.4 percent for the week at 5907.
from Expert Zone:
India Markets Weekahead – An opportunity to ride the rally
(The views expressed in this column are the author’s own and do not represent those of Reuters)
It was a stupendous week with 4.5 percent gain and the closing at 5879, the highest point for Nifty in 19 months. The week started with positive international cues of a Greek bailout, and was further strengthened with Moody’s confirmation of a stable rating for India.
from Expert Zone:
India Markets Weekahead – It’s a no trade zone for now
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Indian markets were in a narrow Nifty band of 5550-5650 last week but volatility kept market participants on tenterhooks.
from Expert Zone:
India Market Weekahead: Trading subdued but markets back on track
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Last week was a volatile one with the stock market poised for a surge but the Nifty eventually closed in the red with a loss of 0.20 percent at 5686.
from Expert Zone:
India Market Weekahead: Buy on dips with no roadblocks till budget
(The views expressed in this column are the author’s own and do not represent those of Reuters)
There wasn't much point-to-point movement on the Nifty but it was not a listless week by any standard.
from Expert Zone:
India Markets Weekahead: RBI policy review to be catalyst for markets
(The views expressed in this column are the author’s own and do not represent those of Reuters)
This was a listless week with the Nifty in the same band of 5640 and 5720 as the previous week, closing about 20 points lower at 5664. The festival season has begun but the mood on the street remains cautious.
