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Market Report

Thursday, 31-Jan-2013

NSE

  • Sensex, the BSE 30-share barometer, initially touched a high of 20,008.83 but later fell back and remained in negative zone for the rest of the day. It concluded at 19,894.98, a fall of 110.02 points or -0.55 per cent. Similarly, the NSE 50-issue Nifty also declined by 21.00 points or -0.35 per cent to close at 6,034.75 today.

  • The broader indices did see some profit booking on the F&O expiry. However, stock specific activity was vivid, said brokers. Banks, mainly from private sector, and refinery stocks fell on selling while realty and PSU shares saw rise.

  • Mixed global cues with a downward bias after the US Commerce Department yesterday surprised market by declaring contraction in the US economy for the fourth quarter, first time since the Great Recession, also weighed on the domestic market sentiment, said brokers.

  • Asian shares ended mixed. European shares fell as a drop in German retail sales and a huge quarterly loss from Deutsche Bank, country's biggest lender, dashed hopes of a quick rebound.

  • We have got some sell signals on the intra-day charts, said Mitesh Thacker. The breakout is not confirmed but the indicators are getting into a sell mode, says Thacker.

  • Markets likely to remain choppy ahead of budget 2013, says Sandeep J Shah of Sampriti Capital. As we get into the budget there is a tendency for profit taking and that is really what is happening, says Shah.

NIFTY 3-Month

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