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Market Report

Wednesday, 29-May-2013

NSE

  • Sensex, which had gained 487 points in the last three sessions and reached one-week highs, declined by 13.18 points, or -0.07 per cent to 20,147.64 today. Similarly, wide-based National Stock Exchange index Nifty eased by 6.95 points, or -0.11 per cent to close at 6,104.30 today.

  • Tracking overnight gains in US where Dow Jones Industrial Average hit record high, Sensex had touched intra-day high of 20,216.49 at the outset today but trading was marred by bouts of volatility. Traders said investors also appeared to be avoiding taking fresh positions ahead of Friday's fourth quarter GDP data release while a weak rupee, which touched a 10-month low today, was fanning fears that inflation will rise soon.

  • Tomorrow is Futures and Options (F&O) expiry day and volatility is likely to be seen within 6050-6150 levels. Nifty has shown good recovery from lower levels today, said experts.

  • In international markets, Asian markets had a mixed session as Japan's Nikkei share average inched up in choppy trade today, while European shares fell across the board as robust US economic data fanned speculation the Federal Reserve may soon begin tapering back its bond-buying programme.

  • I am not impressed by the market rally, says AshwaniGujral. It seems to be steady but I thought we started an uptrend three days back and I do not think above 6100 the market is able to get traction. We will start declining and probably a Bank Nifty will outperform on the downside, he adds.

NIFTY 3-Month

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