Watch out for the numbers

Last week, markets closed on Saturday as the stock exchanges were conducting a special live trading session on May 11, 2013. The exchanges announced that the trading session would be conducted from its disaster recovery site and the duration would be shorter. There was continuous trading was from 11.15 am to 12.45 pm. Nifty closed up around 2.7 per cent, as it crossed its psychological support of the 6100 mark. 

Last week, HSBC services PMI data came out which fell in April as of weak fresh order inflows. The data stood at 50.7 in April as against 51.4 in the previous month, which was also the lowest level since October 2011. The new business index fell for a third straight month to 52.6 against 53.3 in March. DHFL came out with good numbers where the net profit rose over two-fold in a year ago period. The net profit of the company for the quarter ended March 31, 2013 stood at Rs 196.93 crore as compared to Rs 91.23 crore in the same period last year. The total income also rose to Rs 1,742.94 crore against Rs 840.64 crore in the same period on a year ago period. For the fiscal year ended March 31, 2013 the company’s net profit increased by 39.58 per cent to Rs 451.85 crore as compared to Rs 323.72 crore in 2011-12. Total income also stood at Rs 4140.36 crore as against Rs 3216.36 crore in the previous fiscal.

Emami LTD posted a 29.87 per cent rise in its consolidated net profit for the fourth quarter ended March 31, 2013 on the back of robust growth in the domestic business. The net profit stood at Rs 93.99 crore as compared to Rs 72.37 crore in the same period last year. The net sales of the company rose to Rs 450.95 crore in the fourth quarter as against Rs 398.44 crore in the same period under review. The company recommended a dividend of Rs 8 per share for the financial year ended March 31, 2013. The company board also announced the issues of bonus shares in the ratio 1:2 --one equity share for every two existing equity shares held. In India, high interest rates and rising fuel prices made car sales fall in April for a sixth straight month. According to SIAM (Society for Indian Automobiles Manufacturers) car sales fell annually 10.4 per cent in April. But SIAM still expects car sales to grow by 3 to 5 per cent in the current financial year ending in March 2014.

At the beginning of last week, US markets were trading at record highs on the back of stronger than expected economic data. On a weekly basis, the jobless claims fell to a level lowest since 2008. But, coming to the end of the week it changed to sideways. Asian markets were also trading higher tracking the US markets but weak Chinese data changed their direction. China’s consumer price index rose 2.4 per cent in April on a year on year basis driven by food prices. European markets were trading on five-year highs on the back of strong corporate earnings.

On the Asian front, this week investors may focus on Chinese Industrial data and retail sales figures. Initial Jobless claims, Industrial Production data, retail sales and inflation data are the data to be watched out for in the US markets. Also, the GDP of the EuroZone area will be focused. Crude is slightly positive and it may rest $97 and $98.80 in the short term. Support will be at $94.08 and $93.20. Nifty has breached key resistance at 6100 and targeting towards 6126 and thereafter further upside can also be expected. Aptech, Amara Raja Batteries, Dr Reddy, V-Guard, Bajaj Finserv, J & K Bank, Bajaj Auto, Reliance Capital and Atlas Cycles are the companies which may come out with their earnings this week.

Disclaimer: No financial information whatsoever published anywhere in this newspaper should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is for educational and information purposes only and under no circumstances should be used for actual trading or making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment. 

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