Previous Week : Sensex was up by 143.73 points for the week to settle at 17748.69 levels.
Key benchmark indices extended the gains for 6th week in a row. The CNX Nifty hit its highest level in 27 weeks. Nifty started the week on a positive note on Monday's trade but thereafter consolidated in a narrow range of 5320-5430 for the rest of the week. Foreign institutional investors (FIIs) pumped in another 3300 crores during last week taking total for 2012 to 18250 crores (till February 9), as per provisional data from the stock exchanges.
  • The BSE benchmark Sensex was up by 143.73 points or 0.80% for the week to settle at 17748.69 levels
  • The NSE flagship Nifty ended at 5381.60 levels, up by 55.75 points or 1.05%
  • ACC, SAIL, Sterlite Industries, Wipro, HCL Tech, TCS and State Bank of India were the major gainers during last week trade where as Bharti Airtel, Hindustan Unilever and IDFC were the major losers in the index
  • The IIP sunk to lower than expected levels of 1.8% in December versus 5.9% a year earlier. During April-December IIP grew at 3.6%
  • Nymex crude stood at US$ 99.8/ barrel which went up by 3.6% on weekly basis (As on Thursday)
  • Applications for unemployment insurance payments dropped by 12,000 to 367,000 for the week ended Jan 28, according to the US Labor Department figures. Investors cheered on the heels of news that Greek political leaders have reached an agreement on austerity measures needed to secure a new bailout of 130 billion euro bailout from the EU and the IMF
  • The ECB kept interest rates unchanged at 1%. It also eased collateral rules for credit operations
  • M&M reported a topline of 8,327.2 crore (up 37.1% YoY). EBITDA margins stood at 12.3% (down 295bps YoY), while PAT declined 9.8% YoY to 662.1 crore

Week Ahead - Nifty closing above the 5420 would open up sides towards 5530 levels
The Bulls continued to hold the fort as Nifty hits its highest level in 27 weeks during last week trade. In the process, index posted new swing low at 5320 which becomes immediate reference point for support.On the weekly chart the Index has formed a "Doji" candlestick pattern showing initial sign of indecision after a steep rally of the last five week. The low of the previous week placed at 5322 will be a critical support. A close below this level could exacerbate profit booking in the market and drag down the Nifty towards 5240 in the coming week. On the higher side Nifty closing above the 5420 would open up sides towards 5530 levels.
  • In February 2012 (till February 9), FIIs were net buyers to the tune of 7892.67 crore while MFs were net sellers to the tune of 4100.6 crore
  • Key data to watch globally would be US data for US Advance Retail Sales (Jan), Bloomberg Consumer Comfort (US, Feb 12), MBA mortgage Applications, Initial jobless claims , Producer Price Index
  • In India, for the next week the key data to watch would be monthly inflation numbers for Jan
  • Key results to watch out next week would be Coal India, SBI, IOCL, Tata Motors, SAIL, Sun Pharma, Cipla and Nestle