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Market Report

Friday, 07-June-2013

NSE

  • Erasing all early gains, the BSE benchmark Sensex today fell by over 90 points to hit a fresh one-month low as funds sold stocks of interest sensitive sectors. The 30-share index closed lower by 90.26 points, or -0.46 per cent, at 19,429.23 today. Similarly, the broad-based National Stock Exchange index Nifty closed flat and ended lower by 40.40 points, or -0.68 per cent, at 5,881.00 today.

  • In a volatile trade, Sensex made a weak opening but later recovered by 192 points in mid-session but failed to continue the momentum as the rupee slumped to below 57 level against the dollar and entire Asian market in the negative zone, amid a weak opening in European bourses, brokers said.

  • Ahead of its mid-quarter policy, RBI Governor D Subbarao today said its monetary actions in the coming months will be determined by the outlook on monsoon and ensuing impact on inflation.

  • On the global front, Japanese equities plunged to two-month lows on Friday, with the yen rising against the dollar as investors fretted over US jobs data due later, while constant market agonizing about the Federal Reserve's stimulus plans drove Asian shares to fresh 2013 lows.

  • Would like to keep a stock-specific approach, says Sandeep Wagle. The bulls are neither in control nor are the bears and we have to play in this 100-point range, Wagle said.

  • Rupee likely to determine market direction, says Ashwani Gujral. Clearly, the markets are sideways with 5860-5870 on the downside and 5970-5980 on the upside, Gujral said.

NIFTY 3-Month

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