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Sunday, 5 April 2015

Sensex, Nifty volatile; Midcap, Smallcap outperform

11:25am PMI eases: Growth in India's pivotal services industry lost some momentum in March as input prices rose at the fastest pace in nearly a year, a business survey showed on Monday.

The HSBC Services Purchasing Managers' Index eased to 53.0 in March from February's eight-month high of 53.9. A reading above 50 indicates growth, and March was the 11th straight month of expansion.

"India's service sector ended the first three months of 2015 with a strong performance, providing signals that much of the weakness seen in 2014 has been left behind," said Pollyanna De Lima, economist at Markit.

"Despite softening slightly since the prior month, growth of activity and new business in the country's dominant sector was robust," she said.

The input prices sub-index jumped to a nine-month high of 54.3 from February's 51.2 but as firms absorbed most of the added cost burden, they built up a bigger backlog of outstanding work.

11:00am: Market Expert

The market remained lacklustre but the broader markets continued their strong performance. The Sensex rose 18.67 points to 28278.81 and the Nifty advanced 3.10 points to 8589.35.

The BSE Midcap index gained 0.7 percent and Smallcap rallied over a percent. More than two shares advanced for every share declining on the Bombay Stock Exchange.

The market scenario is likely to turn more benign over the next few months, said Sandip Sabharwal of “Three months ago we were looking at several global concerns like the possibility of an early rate hike by the US Federal Reserve, Greek Crisis which would become uncontrollable and several others. However, last week we saw some positive developments, which would play out over the next few months,” he said.

He feels the Iran situation is very positive from India’s perspective — both in terms of keeping crude prices down and opening up of the export market for India. For the immediate short term, Sabharwal sees the RBI policy slated Tuesday to play an important role. For More information please visit this site

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