Previous two weeks we had seen down trend and on Technical Chart , SENSEX forming bear trend called Engulfing on Candlestick pattern, which was encountered this week by turning into BULLISH pattern called PIERSING LINE. Any one who is interested to study candlestick patterns can log to my yahoo group. We have uploaded file which will
Teach you various candlestick patterns with chart.
This week Sensex surged 697 points while Nifty gained 175 points finally closing 17434 and 5157 respectively. If we look at the details of Indices, BSE Sensex rose 697.87 points or 4.17% to 17,434.94 in the week ended Friday, 16 May 2008. The S&P CNX Nifty rose 175.10 points or 3.51% to 5157.70 in the week. The BSE Mid-Cap index rose 137.04 points or 1.96% at 7,129.70 in the week. The BSE Small-Cap index rose 114.62 points or 1.35% at 8,620.26.
Foreign institutional investors (FII) have, so far, sold shares worth Rs 529.10 crore this month, till 14 May 2008. They sold shares worth Rs 10,887.20 crore in calendar year 2008, till 14 May 2008. Domestic funds sold shares worth Rs 639.80 this month, till 14 May 2008.However, we have seen some net buying by Local MFS and FIIS during last few trading sessions.
Inflation spike is still a matter of concern for the government. The wholesale price index rose 7.83% in 12 months to 3 May 2008, higher than previous week's annual rise of 7.61%, government data released on 16 May 2008, showed. It was the highest since an annual reading of 7.93% n 6 November 2004. The annual inflation rate was 5.74% during the corresponding week of the previous year. The government has taken a slew of fiscal measures such as ban on export of cement and non-basmati rice, cut in import duty on some items and imposition of export duty on some steel items to rein in rising prices.
If we look at the all industries composite till date, figures are as under: DATA TAKEN that of LISTED COMPANIES ON BSE.
Operating Profit Margin - Full Year (%) : 20.7
Gross Profit Margin - Full Year (%) : 15.0
P/C Ratio : 16.8
P/E Ratio : 17.6
Dividend Yield - Audited (%) : *******
Price/Book Value Ratio - Latest : 2.84
Total Market Capitalization - 15408 Companies : Rs .5794164.20 Cr.
P/E forward one year compared to Asian peers still is at higher levels
In parity of GDP growth likely to fall around 8.2 for the year 2008-2009.
Global Markets: 16-05-208
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Most of the Asian Indices end their week with a broader advance taking a clue from after an overnight progress on Wall Street. On Wall Street, the Dow Jones Industrial Average gained 94.28 points to end at 12,992.66 and the S&P 500 index climbed 14.91 points to 1,423.57. The Nasdaq Composite rose 37.03 points to 2,533.73
Nikkei 225 Average of Japan rose as high as 14,392.53 before slipping back to a low of 14,211.26. It ended marginally down by 0.2% at 14,219.48, while the broader Topix index climbed 0.2% to 1,395.87.
On the economic front, Japan's economy grew for the third straight quarter in the January to March period on the back of robust exports and a pickup in private residential investment, beating expectations. The gross domestic product (GDP) rose a price-adjusted 0.8% on quarter, after growing by a revised 0.6% in the October-December period.
On an annualized basis, GDP increased by 3.3%, compared with 2.6% growth a quarter earlier. The headline figures were better than the 0.7% on-quarter increase, or annualized 2.8% gain.
Japanese machine tool orders rose a revised 0.4% on year in April to Y128.2 billion. The result was above the preliminary reading of 0.3% released earlier this month. In April, orders from overseas rose 8.1% on year to Y74 billion, while domestic orders slipped 8.5% to Y54.2 billion.
Meanwhile, Japanese consumer confidence fell to a fresh five-year low level in April due to worries about a weakening economy, employment and wage conditions and rising consumer prices. The consumer confidence index slid to 35.2 in April, hitting its lowest level since March 2003 when it stood at 34.7, and down from 36.7 in March, the Cabinet Office said.
Industrial output in Japan fell a revised 3.4% on month in March, worse than the 3.1% decline initially reported two weeks ago, the government said Friday.
According to the revised data from the Ministry of Economy, Trade and Industry the shipments slipped 3.9% during the month, while inventories gained 0.1%. The March factory-operating ratio decreased 3.5% from the previous month.
Chinese stocks in Shanghai were unsettled and moved between positive and negative territories in the aftermath of major earthquake in the Sichuan province recently, while Hong Kong listed stocks advanced after posting declines in the previous two sessions.
Shanghai Composite of China slipped 0.4% to 3,624.23, after rising as high as 3,661.07 earlier in the day. The Hang Seng
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