Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
All's well... - Views on News from Equitymaster
  • E-MAIL
  • A  A  A
  • Nov 1, 2003

    All's well...

    ...that ends well! The corporate results season for the September quarter came to a happy end on Friday with all major results already declared during the month of October. Of course, some more results will continue to flow over the next couple of weeks but then, do they really matter? In the current week, the indices managed to recover most of the losses of last week. While the Sensex gained 3.1% this week, the NSE-Nifty closed with gains of 3.3%. In the month of October, they have gained about 10% each! And these gains are well vindicated by the more than satisfactory results of India Inc. for the September quarter.

    The start of the new Samvat (2060) was on a weak footing as the markets lost ground on the opening trading day of the week. It must be noted that prior to Monday's over 100-points loss on the BSE-Sensex, the indices had gained substantial ground on the previous two trading sessions i.e. the eve of Diwali and then during the Mahurut trading on Saturday. Further, Tuesday's trading was witness to some strong bouts of intra-day volatility. However, some final hour action on the bourses pulled the indices out of the trough as they managed to close in the positive.

    Top 5 gainers over the week
    COMPANY Price on
    October 24 (Rs)
    Price on
    October 31 (Rs)
    % CHANGE 52-WEEK H/L (Rs)
    BSE-Sensex 4,757 4,907 3.1% 4,951 / 2,901
    S&P CNX NIFTY 1,506 1,556 3.3% 1,574 / 920
    MOSER-BAER INDIA 415 509 22.5% 513 / 137
    RAYBAN SUN OPTICS 54 65 19.0% 81 / 46
    ESAB INDIA 62 73 17.0% 78 / 28
    GRASIM 736 858 16.7% 868 / 280
    BURROUGH WEL 484 560 15.8% 600 / 194

    Since then, the markets have moved in a single direction as the bulls pushed the indices to close the week with considerable gains and more importantly, above some crucial psychological levels like 4,900 on the Sensex and 1,550 on the Nifty. It must be noted that the indices are now within a striking distance of their 52-week highs achieved on October 17, 2003, which is just about 1% higher from hereon.

    Top 5 losers over the week
    COMPANY Price on
    October 24 (Rs)
    Price on
    October 31 (Rs)
    % CHANGE 52-WEEK H/L (Rs)
    SHREE RAMA MULTI 6 5 -10.9% 15 / 4
    HFCL 14 13 -10.1% 45 / 11
    KOCHI REF 143 130 -9.6% 173 / 40
    EIH ASSO. HOT. 23 21 -9.2% 28 / 7
    BOI 68 62 -8.4% 70 / 28

    The week gone by was characterised by extreme volatility on the bourses, which could be attributed to the uncertainty regarding the open positions on the derivatives segment that played heavily on the minds of market players. That apart, this week again saw some key results being declared by companies like Bharat Heavy Electricals (BHEL), Oil and Natural Gas Corporation Ltd. (ONGC), Oriental Bank, ICICI Bank, Tisco, Hindustan Unilever (HLL), Ashok Leyland, ITC, Cipla, Tata Power, ABB, Dr. Reddy's, State Bank Of India (SBI) and Steel Authority Of India Ltd. (SAIL). For a detailed analysis of all of these results and more, please click the link below:

    Latest Results: Track corporate India

    Going forward, with markets once again nearing their 52-week highs, the one question, which arises in the minds of investors, what now from here? Where are the markets headed? And the one-word answer to this is up! While we are certain about the medium-to-long term as to where the Indian indices are headed, short-term concerns are always present, which could make the markets behave in a volatile manner. Whether the markets are in a correction mode (Markets below 4,700! What to do?) or they are in the process of achieving new 52-week highs, stay invested in quality stocks and watch your portfolio grow over a period of time. Happy Investing!



    Equitymaster requests your view! Post a comment on "All's well...". Click here!


    More Views on News

    How to Ride Alongside India's Best Fund Managers (The 5 Minute Wrapup)

    Jun 10, 2017

    Forty Indian investing gurus, as worthy of imitation as the legendary Peter Lynch, can help you get rich in the stock market.

    Dear PM Modi, India is Already Land of Self-Employed, and It Ain't Working (Vivek Kaul's Diary)

    Aug 21, 2017

    Most Indians who cannot find jobs, look at becoming self-employed.

    The Key Factor Pushing Gold Up These Days (Outside View)

    Aug 21, 2017

    PersonalFN explains the chief factor pushing gold prices up of late.

    How Unique Are the Companies You Invest In? (The 5 Minute Wrapup)

    Aug 21, 2017

    One of the hallmarks of successful investing is to look out for companies that have a unique and enduring moat.

    You've Heard of Timeless Books... Ever Heard of Timeless Stocks? (The 5 Minute Wrapup)

    Aug 19, 2017

    Ever heard of Lindy Effect? Find out how you can use it to pick timeless stocks.

    More Views on News

    Most Popular

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    The Most Important Innovation in Finance Since Gold Coins(Vivek Kaul's Diary)

    Aug 10, 2017

    Bill connects the dots...between money and growth, real money and real resources, gold and cryptocurrencies...and between gold, cryptocurrencies, and time.

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    Bitcoin Continues Stellar Rise(Chart Of The Day)

    Aug 10, 2017

    Bitcoin hits an all-time high, is there more upside left?

    5 Steps To Become Financially Independent(Outside View)

    Aug 16, 2017

    Ensure your financial Independence, and pledge to start the journey towards financial freedom today!

    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms


    Aug 21, 2017 (Close)