India Market Weekly Review – 31Jan2015

Indian equity benchmarks touched new record highs during the past week as the Nifty made an all time high of 8996, which it could hold for less than 5 seconds, before profit booking avalanche hit Nifty and dragged it down by 144 points on Friday, 30 Jan 2015, which made Nifty give up all its weekly gains and close marginally down for the week — a negative / bearish indication for coming week.

BSE Sensex closed down by 96 points or 0.3% at 29182, while the Nifty closed at 8808, down by 26 points or 0.30%. Among Nifty constituent stocks, Lupin, BHEL, BPCL, DLF, HDFC Bank, ITC, Reliance, Axis Bank and HCL Technology were top gainers, while Bank of Baroda (BoB), Punjab National Bank (PNB), Cairn India, Infosys, Mahindra&Mahindra, Coal India and state Bank of India (SBI) and ICICI Bank were top losers.

Some of the Q3 (FY2015) results that came this week were:

  • NTPC, Dr Reddy’s Labs, Ajanta pharma, Titan, Sesa Sterlite were above estimates. Maruti Suzuki, Idea cellular, HDFC, IDFC were In-line with estimates
  • BoB, ICICI Bank, Asian Paints, Torrent Pharma, Ashok Leyland, were below estimates

Bond yields closed flat at 7.71%.  Crude oil prices closed at about US$ 46.85 per barrel, up 0.7% in the week.  Gold closed at US$ 1257.38/ounce, down 3.4% during the week.