Weekly Mutual Fund and Debt Report :: HDFC Securities

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Equity Markets
Key benchmark indices dropped sharply in the week ended Friday, 12 December 2014 on weak global
cues. The 30-share S&P BSE Sensex lost 1,107.42 points or 3.89% to settle at 27,350.68. The 50-unit CNX
Nifty lost 314.20 points or 3.68% to settle at 8,224.10. The S&P BSE Mid-Cap index fell 389.69 points or
3.71% to settle at 10,108.60. The S&P BSE Small-Cap index fell 406.21 points or 3.54% to settle at
11,068.48. The fall in these two indices was lower than the Sensex's decline in percentage terms.
Outlook for the current weeks
Wholesale price index (WPI) inflation data for November 2014, corporate advance tax for the third
installment of 15 December and developments in the ongoing winter session of parliament are the
domestic factors that will be closely watched during the forthcoming week. Among global cues, all eyes
will be on the outcome of the Federal Open Market Committee (FOMC) monetary policy review and snap
election in Japan and Greece's presidential elections.
Corporate advance tax payment for the third installment which is due on Monday could provide clues on
Q3 December 2014 corporate earnings. Shares of PSU OMCs will be in focus as these companies will
review fuel prices on Tuesday based on the average imported oil price in the preceding fortnight.
Meanwhile, the Indian government intends to get the Insurance Laws Amendment Bill passed during the
ongoing winter session of parliament. Also the government is reportedly likely to introduce the
constitutional amendment bill for goods & services tax (GST) during the ongoing winter session of
parliament.
Global Markets
US stocks fell sharply on Friday, leaving the benchmark S&P 500 with its worst weekly performance since
May 2012, as investors pulled back from the markets in response to oil's free-fall and more weak data out
of China. The MSCI Emerging Markets Index fell 0.8 percent to 938.41, extending its five-day retreat to 4.8
percent. Emerging-market stocks posted their largest weekly drop since June 2013 as a rout in oil spurred
losses by commodity producers.
G sec Markets
Indian bond markets saw the yields inching down during the week ended Dec 12, 2014. The G sec market
opened the week on Monday on a firm note tracking the fall in the prices of global crude oil. However,
profit booking by participants at higher levels checked bond prices.
G sec prices ended higher on Tuesday due to continued softness in global crude oil prices. Fall in the US
Treasury yields also supported the market.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/MFReports/3010302