Weekly Market Outlook by ShareTipsInfo

Weekly Market Outlook by ShareTipsInfoIndian Stock markets closed due to holiday on 2nd October (Mahatma Gandhi Birthday)

Events to Watch This Week:
1. India: BoP Current Account Balance 2Q (30 Sep)
2. China: HSBC Mfg PMI Data (30 Sep)
3. India: HSBC Mfg PMI Data (1 Oct)
4. US: ADP Report   (2 Oct)
5. US: ISM Non Mfg Data (3 Oct)

NIFTY- 5,833
CRUDE OIL-Rs 6,538/barrel
GOLD-Rs 30,727 / 10 gram
Rs/$-Rs 62.51

MARKET ROUND UP: 30 Sensex down 2.65% to close at 19,727 during the week ended. Nifty moved down by 2.98% to close at 5,833 during the same period.

Rupee Update: The Indian rupee fell on Friday, snapping two sessions of gains, as foreign banks bought dollars for their custodial clients, with the June-quarter current account deficit numbers due on Monday expected to provide direction to the currency.

India's current account deficit, which hit a record high in the last fiscal year, is expected to be around $23 billion-$25 billion or 4.8-5.4 percent of gross domestic product (GDP) in April-June, from $18.1 billion, or 3.6 percent, in the March quarter, a poll showed.

Corporate Announcements

1.  L&T Construction bags orders worth Rs 26.83 bn
2.  Ashoka Buildcon bags contacts worth Rs 4.94 bn
3.  Power Grid to invest Rs 22.56 bn in two projects
4.  MTNL, BSNL sign MoU for operational synergy
5.  Petron Engg bags order worth Rs 550 mn from BPCL
6.  HCL Tech bags multi-mn deal from WyCAN Consortium
7.  Lupin expands US pediatric brands portfolio
8.  Glenmark gets US FDA nod for Desoximetasone Ointment USP
9.  Aarti Drugs receives US FDA warning letter
10.  Suven Life secures three product patents for NCEs
11.  Tata Power generates over 34,682 MUs of power in FY 12-13
12.  GE Shipping takes delivery of medium range product carrier
13.  Aurionpro arm releases implementation of accelerator solution
14.  State Bank of India's CAG opens new branch at BKC
15.  Kellton Tech to invest in Kellton Tech, Inc
16.  Trigyn Tech sign MoU with E-tivity Corp
17.  Kolte-Patil launches four residential projects in Pune
18.  ICICI Bank launches app to carry out banking services on FB
19.  Siemens to train SAIL's work force to improve technical skills
20.  Solix Partner Network delivers EDMS managed services
21.  Lakshmi Vilas Bank hikes interest on term deposits
22.  Mastek appraised at CMMI level 5 for product implementation
23.  Tata Steel signs MoU with workers union to settle annual bonus
24.  NHC Foods launches new blended spices in Malaysia, South Africa
25.  Dabur launches India's first oral health portal
26.  SKS Microfinance signs Jack Trout for repositioning, rebranding work
27.  Tata Teleservices launches Photon Max

Sector
1. IT, pharma to report robust earnings; realty, infra to show dismal results in Q2: Assocham
2. Luxury retail space in India to be modest at 1.44% by 2015: Cushman & Wakefield
3. TRAI releases recommendations on full mobile number portability

Economy
1.  RBI notifies norms for export credit in foreign currency
2.  Recent INR fall may push FY14 fiscal deficit over 5% of GDP: Ind-Ra
3.  India's Forex earnings in tourism may reach USD 26 bn by 2015: Assocham
4.  RBI to conduct OMOs to ensure adequate liquidity

International
1.  US GDP growth estimate unchanged at 2.5% in Q2
2.  US initial jobless claims fall by 5,000
3.  UK Q2 GDP growth unchanged at 0.7%
4.  ''Bank of England sounds relax note on financial risks''
5.  US producers shows weakening growth of durable goods orders in August
6.  US consumer confidence falls to 79.7 in September
7.  Flash US manufacturing PMI at 3-month low as new order growth slows
8.  PMI signals gathering pace of Eurozone recovery in September
9.  HSBC German flash manufacturing PMI hits 2-month low in September
10.  HSBC China flash manufacturing PMI rises to 6-month high
11.  Fed's decision to stay put caps record breaking week for equity funds
12.  Eurozone in recovery mode but gap widening in North & South

MAJOR SECTORAL GAINERS:
Teck = 0.20%

MAJOR SECTORAL LOSERS:
Bankex =    -7.5%
Realty  =    -7.1%
CG  =    -1.6%
FMCG =    -1.5%

MAJOR GAINERS IN BSE A CATEGORY:
Jubilant Foods =    10.3%
Ashok Leyland =    9.5%
Auro Pharma =    8.2%
BHEL =        7.6%
Pipavav Def =    7.3%

WEEKLY LAGGERS:
DLF =  -23.1%
Yes Bank =  -21.2%
OBC = -20.6%
Union Bank = -17.2%

TREND IN GLOBAL MARKET DURING THE WEEK:
DOW JONES =        -1.25%
FTSE =        -1.50%
DAX =        -0.22%
CAC =        -0.44%
NIKKEI =         0.15%
HANGE SENG =    -1.26%
SHANGHAI =    -1.45%
SENSEX =    -2.65%

Eyes will be set on the certain US economic data releases are:

Monday
1. Chicago PMI

Tuesday
1.  ISM Mfg
2.  Construction Spending
3.  PMI Manufacturing

Wednesday
1.  ADP Report
2.  Ben Bernanke Speaks
3.  EIA Petroleum Status

Thursday
1.  Jobless Claim
2.  Bloomberg Consumer Comfort Index
3.  Factory Orders
4.  EIA Natural Gas Report

Friday
1. Unemployment Report

FII TREND DURING THE WEEK:
(Figures in Crore)
23/9/2013 =   -80
24/9/2013 =   -21
25/9/2013 =   382
26/9/2013 =  172
27/9/2013 =  -244

Fundamental Picks of the Week:
1.  Sun Pharma Target Rs 650
2.  Zee Entertainment Target Rs 260
3.  Surya Roshni Target Rs 85

TECHNICALS:
S3    S2    S1    NIFTY    R1    R2    R3
5, 550    5, 650    5, 760    5, 833    5, 890    5, 950    6, 010

Nifty is likely take support at 5, 817 (100 DMA) and then at 5, 716 (50 DMA). Nifty is likely to be in range. On upside Nifty will resistance at 6, 010. 

50 DMA – 5, 716
100 DMA – 5, 817
200 DMA – 5, 841

CONCLUSION:
We expect Nifty to be range bound. India VIX is at 23 remains sticky and higher level. Market is looking towards the IIP on 11th October, 2013. Now we are moving result season. Market will reward companies with good result and shunt those with lower than expected result. Stock specific action will be seen in October.

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