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Market Report

Friday, 25-Jan-2013

NSE

  • After a better start, the Sensex spurted by 179.75 points, or +0.90 per cent to end at 20,103.53 helped by rise in Tata Motors, Maruti Suzuki, SBI, L&T and HDFC Bank shares. The broad-based National Stock Exchange index Nifty rose by 55.30 points, or +0.92 per cent to close at 6,074.65 today.

  • Rate-sensitive sectors like real estate, auto, consumer durables, capital goods and banks saw good buying on hopes the central bank will cut rates by at least 0.25 per cent on January 29 to boost economic growth and encouraging earnings by Maruti Suzuki, brokers said. Investors also took advantage of buying stocks following the previous day's plunge when Sensex fell by 103 points, brokers added.

  • Most economists expect the RBI to cut its policy repo rate by 25 basis points on Tuesday to 7.75 percent. The RBI last cut rates in April 2012 by 50 basis points but warned at the time there would be limited scope for further cuts on back of inflationary concerns.

  • Globally, Asian shares ended down on concerns over corporate profitability while Japanese shares rose on optimism about the earnings prospects for Japanese exporters with the yen weakening. European markets traded mixed.

  • Constant liquidity in the market is holding the indices in upward zone: Nifty above 6,000 and Sensex over 20,000. Also, rate cut hopes are high this time, said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd.

  • Market week ahead: RBI policy, earnings key for stocks, says ET Now. The Reserve Bank of India's policy review on Tuesday and earnings of blue-chip companies will be the key factors for stocks next week.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)