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Market Report

Friday, 24-May-2013

NSE

  • The 30-share index commenced the day on a strong note at 19,813.72 but fell to a low of 19,571.91 intra-day before settling 30.00 points, or +0.15 per cent, higher at 19,704.33 today. It had lost 2.8 per cent in the first four days of this week. Similarly, the broad-based National Stock Exchange index, Nifty, closed higher by 16.50 points, or +0.28 per cent, to close at 5,983.55 today.

  • Brokers said sentiment turned better on emergence of short covering positions created in the recent bear phase. The market remained volatile amid mixed trend in the global markets as investors awaited data on US durable goods orders in April.

  • In Asia, meanwhile, the sell-off continued with Nikkei shedding 3% from the day's high. It finally ended with 1% gains at 14,612.

  • Improved macro fundamentals may drive market up, says Deven Choksey. When crude oil price is going down, it could possibly have its impact on the commodity prices and also on the gold prices, he adds.

NIFTY 3-Month

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