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from India Insight:

Markets this month: Tata Motors, M&M top Sensex gainers

By Ankush Arora and Sankalp Phartiyal

The BSE Sensex jumped 2.9 percent in August, the seventh consecutive monthly gain for the benchmark index in 2014. The broader Nifty closed 3 percent higher, its fourth straight month of gains.

A man looks at a screen across the road displaying the election results on the facade of the BSE building in MumbaiThe Indian stock market hit multiple record highs in August, helped by relentless foreign buying, easing of geopolitical tensions and continued optimism about the domestic economy’s revival.

On Friday, India will release GDP growth data for the April-June period. Asia’s third-largest economy likely grew at its fastest in two years in the first quarter of the current fiscal year, a Reuters poll predicted.

But many Indian CEOs say there are no signs yet of economic improvement, even as they are optimistic that Prime Minister Narendra Modi will spur economic growth, according to a poll conducted by the Economic Times newspaper. The survey coincides with 100 days of Modi as India’s premier.

from Expert Zone:

How high will the Sensex go?

(Any opinions expressed here are those of the author and not of Thomson Reuters)

A bronze bull sculpture is seen as an employee walks out of the Bombay Stock Exchange building in MumbaiSince April, the stock market has been in a frenzy after a long period of utter gloom. In quick succession, the Sensex jumped month after month to cross 26,000 on July 7. This was not mere euphoria created by the election of the Narendra Modi government, with a single-party majority in the Lok Sabha after a long time.

from India Insight:

Stock market glitches in India over the past few years

India's stock market, like its peers across the world, is no stranger to sudden trading halts due to technical glitches. On Thursday, India’s second-biggest exchange operator BSE halted trading across all its segments due to a network outage. Trading on the NSE bourse was not affected.

The three-hour outage was the longest in recent memory and follows three earlier outages in a year that has seen stocks scale fresh peaks on expectations of economic revival from a new government.

from Expert Zone:

India Markets Weekahead: Wait for post-budget opportunities

(Any opinions expressed here are those of the author and not of Thomson Reuters)

Markets were fairly volatile last week, reacting to tough measures taken by the Narendra Modi government to get India’s economy back on track amid worries over monsoon rains and the situation in Iraq.
cfcd208495d565ef66e7dff9f98764da.jpgLong-term investors hailed the hike in railway freight and passenger fares as a step in the right direction to bring down indirect subsidies. However, the government rolled back the hikes on suburban fares to a large extent due to political considerations.

Monsoon rains have started on a weak note but if the rains pick up in July and the El Nino effect is tempered, it would have a direct impact on inflation and interest rates.

from India Insight:

Markets this week: ITC, Infosys top Sensex losers

By Sankalp Phartiyal and Ankush Arora

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai May 13, 2014. REUTERS/Danish Siddiqui/FilesThe benchmark BSE Sensex fell in three of five sessions this week, as higher crude prices hurt sentiment and the cabinet’s decision to delay a hike in gas prices disappointed investors. Caution also prevailed ahead of the June derivatives’ expiry on Thursday and fears of more violence in Iraq prompted investors to pare positions.

A Reuters poll on Thursday forecast the 30-share Sensex hitting 27,750 points by the end of December, following a brief correction after the budget.

from India Insight:

Markets this week: Mahindra and Mahindra, RIL top Sensex losers

By Ankush Arora and Sankalp Phartiyal

The BSE Sensex and Nifty, India’s main stock indexes, both fell 0.5 percent this week as worries over escalating Iraq tensions, a weak domestic monsoon and profit-taking weighed on sentiment.

On Friday, global oil prices inched towards a nine-month high on increased risks of supply disruption from Iraq. Investors fear spiraling crude prices and a weak monsoon could add to inflation woes and hurt India’s current account deficit.

from Expert Zone:

India Markets Weekahead: Pre-budget rally may be muted

A man looks at a screen across the road displaying the election results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai May 16, 2014. REUTERS/Danish Siddiqui/Files(Any opinions expressed here are those of the author and not of Thomson Reuters)

The Nifty touched a new high of 7,700 before cracking on Friday to slip about 0.5 percent for the week. This was primarily triggered by the unrest in Iraq and the subsequent rise in crude prices.

The markets were also overbought aided by a relentless rally since May 9‎, with the CNX Nifty climbing about 16 percent, S&P BSE Midcap Index rising 26 percent and the S&P BSE Small cap index jumping 35 percent. The last one-month saw 115 multi-baggers with 92 percent of traded stocks gaining during the period. The probability of picking a loser was minimal. It seemed making money had never been so easy.

from India Insight:

Markets this week: Sensex surges 5 percent on hopes from Modi, ONGC rallies

By Ankush Arora and Aditya Kalra

The BSE Sensex ended at a record closing high on Friday, rising 5 percent during the week, as Indian shares rallied on hopes of faster economic recovery after Narendra Modi became India's prime minister last month.

Markets have high hopes that the new Modi-led government would push for policy reforms and end bottlenecks that have stymied growth in Asia's third-largest economy.

from India Insight:

Brokerages bullish on Sensex, revise targets after Modi win

By Sankalp Phartiyal and Aditya Kalra

Indian stock markets rallied to record highs in May with the benchmark BSE Sensex breaching the 25,000 mark for the first time after Narendra Modi won a clear mandate to govern Asia's third-largest economy.

Markets surged as Modi's Bharatiya Janata Party (BJP) and its allies stormed to power on promises to revive India's struggling economy, which is growing below 5 percent, and create more jobs for its 1.25 billion people.

from India Insight:

India equity funds ride Modi rally in May, post best month in five years

India's diversified equity funds outperformed the broader markets in May and recorded their best monthly performance in five years, as stocks rallied on hopes of an economic revival after the Narendra Modi-led Bharatiya Janata Party (BJP) won a decisive election mandate.

Equity funds clocked an average return of 11.57 percent in the month, the highest since May 2009 when funds rose 30.2 percent, data from fund tracker Lipper, a Thomson Reuters company, showed. In comparison, the BSE Sensex rose 8 percent.

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