WEEKLY NEWS

Infosys Q4 disappoints; downgrades loom on weak guidance

Infosys shares plunged 21 percent to Friday close at a near-four month low of Rs 2295.45, after its fourth quarter numbers and FY14 guidance were way below market expectations. This is the biggest single day fall since April 10, 2003, when the stock tanked 26 percent after missing its guidance.The IT major's fourth quarter net profit rose slightly higher-than-expected 3 percent year-on-year (1 percent quarter-on-quarter) to Rs 2,394 crore, helped by higher other income and lower income tax expenses.

WEEKLY EQUITY NEWSLETTER

15 APRIL 2013
TH

FinMin pitches for ratings upgrade for economy with Fitch

The Finance Ministry today made a strong case for rating upgrade of Indian economy by global agency Fitch on the back of increasing investments, declining

MARKET UPDATE: Nifty down by 25 pts and settle at 5528.55 Bank Nifty up by 400 pts at 11410.10

import of gold and government's commitment to fiscal prudence.The issue of rating upgrade was raised by Finance Ministry officials at a meeting with the representatives of Fitch here. The meeting was attended by Department of Economic Affairs Secretary Arvind Mayaram, among others

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MARKET ANALYSIS

UNCERTAIN POLITICAL SITUATION IN INDIA AND SOME POOR MACRO NUMBERS IN THE RECENT PAST HAS CAUSED THE INDIAN MARKETS TO UNDERPERFORM THE GLOBAL PEERS SINCE THE BEGINNING OF THE CURRENT MONTH. RATHER THE FOREIGN INSTITUTIONAL INVESTORS (FII) WHICH TILL THE END OF THE PREVIOUS MONTH WERE MOPPING UP INDIAN EQUITIES TURNED NET SELLERS IN THE EQUITY SEGMENT. ON THE CONTRARY MOST OF THE GLOBAL MARKETS DURING THIS PERIOD RALLIED CONSIDERABLY. SO IT APPEARS PERHAPS THAT THE INDIAN MARKET IS THE VICTIM OF PORTFOLIO REALIGNMENT BY THE GLOBAL FUNDS IN FAVOR OF SAFER DEVELOPED ECONOMIES. ON THE OTHER HAND SOME OF THE MACRO PARAMETERS HAVE BEEN DISAPPOINTING FOR SOME TIME AND PERHAPS THE INDIAN MARKET IS FINALLY CATCHING UP TO MACRO REALITIES. ALL IN ALL THE MOOD APPEARS ABSOLUTELY BEARISH IN THE INDIAN MARKETS AND THE DISAPPOINTING PROFITABILITY GUIDANCE GIVEN BY IT HEAVY WEIGHT INFOSYS FOR FY14 AFTER DECLARING ITS Q4FY13 EARNINGS HAS ONLY ADDED FUEL TO THE FIRE. THE BENCHMARK NIFTY TODAY FELL 65.45 POINTS TO CLOSE AT 5528.55 (MAINLY CONTRIBUTED BY INFOSYS BUTCHERING WHICH FELL MORE THAN 21%). OVERALL FOR THE WEEK THE NIFTY FELL 24.70 POINTS. THE NIFTY FUTURE PREMIUM OF THE APRIL SERIES NARROWED DOWN TO JUST 6.65 POINTS (5535.20) AS COMPARED TO 16.05 POINTS ON MONDAY, PERHAPS AN INDICATION OF FRESH SHORTS BEING CREATED IN THE NIFTY FUTURE SEGMENT. NOT JUST THE INDEX FUTURES, BUT SOME OF THE MAJOR STOCK FUTURES SEGMENTS ALSO WITNESSED ADDITION OF OPEN INTEREST (OI) ON THE SHORT SIDE.

EXPERT OPINION
NIFTY WEEKLY PIVOTS

NIFTY
Nifty looks Bearish Strategy: Sell on rise Support:5450 Resistance: 5600

BANK NIFTY
Bank Nifty looks Bearish Strategy: Sell on rise Support: 11300 Resistance: 11500

NIFTY WEEKLY PIVOTS

PIVOTS NIFTY R4 5937 R3 5804 R2 5671 R1 5599 PP 5538 S1 5466 S2 5406 S3 5272 S4 5139

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 NIFTY WEEKLY CHART

WEEKLY BANK NIFTY CHART

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 GAINERS AND LOOSERS

WEEKLY NIFTY GAINERS
SCRIPS RATE VOL. (000) PR. CLOSE NET CHANGE % CHANGE

JP Associate Tata Motors Ambuja Cement Lupin DLF

. SCRIPS

70.80 275.15 175.95 659.80 247.40

17933.75 8703.29 2616.38 409.35 10156.85

64.10 255.20 164.75 618.20 232.80

6.70 19.95 11.20 41.60 14.60

10.45 7.82 6.80 6.73 6.27

WEEKLY NIFTY LOOSERS

RATE VOL. (000) PR. CLOSE NET CHANGE % CHANGE

Infosys Tata Steel Coal India Jindal Steel Asian Paints

2296.65 299.5 299.9 327.85 4662

546.62 3985.83 2585.16 1631.55 73.49

2865.85 309.2 309.25 335.55 4767.55

-569.2 -9.7 -9.35 -7.7 -105.55

-19.86 -3.14 -3.02 -2.29 -2.21

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