Markets at a glance

STOCK MONITOR

 Return (%)

1 week1 month1 year BSE Sensex6618.233.10-0.4914.96 S&P CNX Nifty2077.953.47-1.2314.04 BSE-1003566.883.32-1.4221.42 BSE-200883.143.84-1.7821.38 BSE-5002778.134.02-1.5724.64 CNX Mid-cap 2002699.455.201.7166.42 CNX Nifty Junior4368.303.99-3.6233.04 S&P CNX 5001798.203.78-1.8124.45 FII Net inflows (Rs cr)*489.304210.803929.2039577.5 MF Net inflows(Rs cr) *-16.24-135.42393.76-1425.81 BSE turnover (Rs cr)@2599.802887.912343.792030.38 NSE turnover (Rs cr)@5504.825801.005326.864560.94 Sensex P/E@15.8016.0317.2318.41   BSE-Auto2829.892.45-2.1311.75 BSE-Bankex3711.874.18-1.6230.63 BSE-Cap. Goods3051.135.102.0641.74 BSE-Cons Durable1471.373.34-6.1633.82 BSE-FMCG1134.071.516.147.74 BSE-Healthcare2680.890.20-11.7017.09 BSE-IT Sector2583.072.09-1.7938.63 BSE-TECk1703.431.78-3.0439.05 CNX IT2870.302.28-2.67-86.49 BSE-Metal6347.855.871.4632.37 BSE-Oil & Gas3109.103.99-2.395.50 BSE-PSU4351.495.23-3.7120.85   Nasdaq2057.641.07-2.382.16 Dow Jones10593.101.59-0.351.17 MSCI World1157.971.360.7910.45 MSCI Emgerging Markets549.461.324.6220.5 MSCI Emerging Asia236.650.744.4711.29 $/Rs43.44-0.64-0.14-4.08 Brent Crude (spot)$/Bbl43.28-5.056.4244.80 * Figures for week, month and year are cumulative flows. @ Daily average turnover/Sensex P/E as on date, week-, month- and year-ago.  ONGC's 3.5 per cent gain and Bhel's 9.6 per cent gain also helped the indices gain. BSE Bankex was another gainer with stalwarts HDFC and ICICI Bank racking up 8.3 per cent and 4.9 per cent respectively.  The US markets had a bumper week, gaining four out of five days during the week. Comments from Alan Greenspan that US trade and budget gaps may fall due to market forces and fiscal steps cheered markets.  The Labor Department's weaker than expected job creation data was viewed as a positive. Emerging market equity funds recorded outflows of $142.7 million for the week. This was attributed to major outflows of nearly $1 billion from a couple of GEM equity funds.  What to expect this week?  Volatility looks to be in vogue as the pre-Budget momentum builds up. Expectations seem to be running high. With no major corporate announcements or results expected this week, statements by government officials and ministers will have a bigger say in the markets in the run-up to the Budget.  Movement in the F&O segments should be a good pointer to what to expect from stocks. Meanwhile, foreign funds look to continue where they left off.  

Stock of the week 

ABB
Last week's close (Rs)	1,079.20
Prev. week's close (Rs)	954.55
Week's high (Rs)	1,099.00
Week's low (Rs)	956.05
Last week's ave. daily turnover (Rs cr)	15.35
Prev. week's ave. daily turnover (Rs cr)	4.34
Number of up/down move last week	5/0

ABB touched its life-time high of Rs 1,099 at the bourses last week amidst renewed optimism due to its last-quarter results. The stock was the highest gainer among the Nifty scrips.

ABB's last-quarter results were impressive - net profit increased 43 per cent to Rs 70.8 crore and profit for FY04 rose 24 per cent to Rs 154 crore. The company's order-book position, too, looks healthy and with the power sector opening up there will be more positives.

Chartists seem to endorse the rally. The stock is in a short-, medium- and a long-term uptrend. After giving an upward break-out after nine weeks of consolidation, the stock is expected to touch Rs 1,140 in the next few trading sessions.