Expert Zone
Straight from the Specialists
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.
As I predicted last week, the breakout beyond 5650 was triggered by the government agreeing for a debate and vote on the contentious issue of foreign direct investment (FDI) in retail. The fence sitters didn’t want to miss out on the rally and the short sellers were caught by surprise which led to a big move on Thursday, it being the derivatives expiry day. FIIs continued to pour funds, making India one the most favoured emerging markets in the current calendar year with the tally exceeding US$ 19 billion in foreign inflows.
The trouble shooters in Congress were on an overdrive, cajoling and pacifying the allies as well as the fringe parties. It is widely believed that they agreed to a vote only after being assured of it going in their favour in the lower house of parliament, Lok Sabha. There is still a doubt whether they will be able to push the reform through the upper house, Rajya Sabha, where the UPA allies and other friendly parties fall short of the required number by a whisker.
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.
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.
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.
India Market Weekahead – Reforms, RBI rate cut could help Nifty break 5,800
There was consolidation within a narrow Nifty band of 5,640 and 5,720 last week, with a bit of volatility and a flat closing at 5,684.
Heavyweight results and political heat dominated the mood on the street. The government’s reform agenda continued with a Group of Ministers (GoM) panel clearing a watered down land acquisition bill, a development which was cheered by industry leaders only to be later vetoed by Congress chief Sonia Gandhi. The much awaited expose by activist-turned-politician Arvind Kejriwal failed to create ripples.
India market weekahead: Consolidation seen, earnings in focus
(The views expressed in this column are the author’s own and do not represent those of Reuters)
October has been touted as a difficult month for stocks, though for the Indian markets there didn’t seem to be anything stopping the repeat show of October 2011 until the flash crash on 5th.
Temporary market correction an opportunity to buy
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Opposition party protests against the UPA coalition government’s economic reforms could not puncture market sentiment in the past four weeks. One domestic brokerage house dealer’s “fat finger” did it in just a few seconds.
Sharp fall in Nifty: Understanding flash crash, algo trading
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Global markets have witnessed flash crashes in the recent past, the most famous one being on May 6, 2010 when U.S. markets dropped 600 points in a matter of minutes, only to recover later. But the one which we witnessed Friday on the National Stock Exchange resulted in the market being shut for a while.
Markets Weekahead: Watch out for Nifty levels of 5,900, mid-cap shares to shine
(The views expressed in this column are the author’s own and do not represent those of Reuters)
The week was expected to be volatile with a possibility of a minor correction but turned out to be one of consolidation. The Nifty closed at 5,703, higher by 12 points, its fourth straight week of gains. Indian markets have been among the best performing ones with gains of 8.46 pct in September. FIIs continued to pour in with last week’s tally at $1.42 billion.
QE3 could boost Nifty to 5,550-5,600 in the short term
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Indian markets have been buoyant since the European Central Bank’s decision on the unlimited sovereign bond buying program announced last week and the German Constitutional Court’s nod on Wednesday for the same.
