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Market Report

Monday, 15-Apr-2013


  • Wiping off initial losses, the Sensex bounced back to close higher by 115.24 points, or +0.63 per cent to 18,357.80 today. The index had dropped 300 points in the previous session. The broad-based National Stock Exchange index Nifty rose by 39.85 points, or +0.72 per cent, to close at 5,568.40 today, after touching the day's low of 5,500.30.

  • Brokers said oil and gas sector stocks were higher as crude oil declined in overseas markets, while easing inflation data in March triggered hopes of repo rate cut by the Reserve Bank of India in its annual policy meet on May 3. After the moderate rise in February, the Wholesale price index (WPI) inflation fell to 5.96% in March 2013. This is the lowest recorded figure in 40 months.

  • A weakening trend in overseas markets as foreign funds shifted their focus to India, failed to influence the sentiment, traders added. However, FIIs were net sellers today even as the market made some recovery. This pullback will not last if FIIs continue to sell. See our 'Market Statistics' page.

  • Markets will head lower, current trend is just a weak pull back, said Ashwani Gujral. For the last 10 days, we have been in this 5500-5600 zone and once we come out on the downside we will restart the down move, says Gujral.

  • Nifty may possibly test 5630-5650 mark in near-term, said Mitesh Thacker. We might get a slightly better or stronger pullback in what we have been getting for the last couple of days. Possibly, the 200 day average mark i.e, 5630-5650 levels can be tested led by banks to a certain extent, he adds.

NIFTY 3-Month

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