Indices witness marginal losses in the truncated week
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Indian stock markets fell nearly 1% in the holiday shortened week led by mixed cues in the domestic and global markets
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 Major Headlines for the week:
- WPI inflation for September 2014 declines to 2.38%
- Reliance Industries: first cut analysis of Q2FY2015 result
- TCS tanks 8% as September quarter misses expectations
- Axis Bank Q2 In-Line with estimates
Indian indices:
Welcome to the 'Weekly Market Wrap' for October 17, 2014 where key benchmark indices declined on sustained selling by foreign funds. However, a steady decline in crude oil prices cushioned steep slide.
The barometer index, the S&P BSE Sensex, regained the psychological 26,000 mark after declining below that level during the week. In the truncated trading week, key indices logged gains in two trading sessions and declined in other two trading sessions. Indian stocks registered declines for fourth straight week in the week ended Friday, 17 October 2014.
In the week ended Friday, 17 October 2014, the 30-share S&P BSE Sensex fell 188.90 points or 0.71% to settle at 26,108.53. The 50-unit CNX Nifty points declined 80.30 points or 1.02% to settle at 7,779.70.
The S&P BSE Mid-Cap index fell 171.90 points or 1.82% to settle at 9,272.49. The S&P BSE Small-Cap index declined 297 points or 2.79% to settle at 10,313.97. Both these indices underperformed the Sensex.
Weekly market trend from October 13 - October 17
October 13: Indian shares gained on Monday, as stocks of blue-chip companies recovered from recent losses, tracking positive cues from the European markets, while technology shares rose for a second day. The BSE Sensex and the CNX Nifty ended 0.33%-0.31% higher. The 30-share Sensex ended up 86 points at 26,384 and the 50-share Nifty ended up 24 points at 7,884.
October 14: Indian shares edged down on Tuesday as DLF plunged after the market regulator banned it from tapping capital markets, although broader losses were capped as Reliance Industries gained after better-than-expected earnings and lenders rose on easing inflation. The BSE Sensex and the CNX Nifty ended 0.13%-0.26% lower.
October 15: Indian markets were closed on Wednesday due to assembly elections in the western Maharashtra state.
October 16: Indian shares fell for a second consecutive session on Thursday as companies seen most exposed to the global economy such as Hindalco Industries and Sesa Sterlite declined tracking a downturn in global markets. The 30-share Sensex ended down 349.99 points at 25999 and the 50-share Nifty fell by 115.80 points at 7748.20.
 October 17: Indian shares rose on Friday, led by gains in stocks of domestic oriented companies including lenders such as HDFC Bank on value buying and hopes a likely win for the BJP in two recent state elections would help push key reforms. The 30-share Sensex ended up 109 points at 26,109 and the 50-share Nifty closed 32 points up at 7,780.
Global indices:
Top Gainers: DAX 100 up 0.70%
Top Losers: Nikkei down 5.02%, Shanghai Composite down 1.40% and CAC 40 down 0.99%.
 Sectoral and stock screening:
Top Gainers: S&P BSE Bankex up 3.09% and S&P BSE PSU up 0.98%
Top Loser: S&P BSE Realty down 10.2%, S&P BSE IT down 5.15% and S&P BSE TECk down 3.94%.
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Looking at the 'A' group stocks, the top three gainers of the week were - Den Networks up by 20.51%, BF Utilities up by 17.71% and Sintex Industries up by 12.33%.
Top three losers of the week were - DLF down by 27.34%, CMC down by 16.10% and Rallis India down by 15.2%.
FII/MF activity:
The foreign institutional investors (FIIs) have been the net sellers of the Indian stocks to the tune of Rs2318.18 crore while the domestic investors bought Indian shares worth a net of Rs1259 crore as on October 16, 2014.
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| TOP MOVERS (GROUP A) |  | |
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| BF Utilities |
643.90
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17.71
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| Sintex Industries |
81.55
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12.33
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| Rallis India |
212.00
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-15.20
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| FII/MF ACTIVITIES | | |
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| Gross purchase | 9,656.03 | 3,015.30 |
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| Gross sale |
11,974.83
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1,756.30
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| Net investment |
-2,318.80
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1,259.00
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*Data as on October 16, 2014
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Market Outlook for the coming week!
In the coming week, trend in global markets, Q2 results of India Inc., results of assembly elections in Maharashtra and Haryana, investment by foreign portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price movement will dictate term trend on the bourses in the forthcoming truncated trading week.
Stock market remains closed on Thursday, 23 October 2014 on account of Diwali Laxmi Pujan and again on Friday, 24 October 2014 on account of Diwali Balipratipada. However, the stock exchanges will conduct a special live trading session on Thursday, 23 October 2014, on account of Muhurat trading on Diwali. Trading will begin at 18:30 IST and will conclude on 19:30 IST on that day.
Results of the assembly elections in Maharashtra and Haryana will be announced on Sunday, 19 October 2014.
Various exit polls released after assemble elections held on 15 October 2014 showed that the BJP is set to wrest power from the Congress party in Haryana and will emerge as the single largest party in Maharashtra. BJP's strong showing in assembly elections in Maharashtra and Haryana could boost Prime Minister Narendra Modi's ability to carry forward legislative reforms.
Among global economic data, China will publish third quarter GDP data on Tuesday, 21 October 2014. HSBC and Markit will announce a preliminary reading of their China manufacturing purchasing managers' index for October on Thursday, 23 October 2014. On the same day, Markit Flash Eurozone Composite PMI will be released. Focus will also be on Fourth Plenum, an annual meeting of China leaders which may offer clues about plans to address a slowing economy, to be held from October 20-23.
The Federal Open Market Committee (FOMC) next undertakes a monetary policy review at a two-day meeting on 28-29 October 2014.
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