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Market Report

Monday, 17-June-2013


  • The Sensex gained by 147.94 points, or +0.77 per cent, to 19,325.87 today. The index had gained 351 points in the previous session. Similarly, the Nationa Stock Exchange index Nifty rose by 41.65 points, or +0.72 per cent, to close at 5,850.05 today led by auto stocks even as the RBI kept interest rates unchanged.

  • Brokers said an early monsoon raised hopes of better agri output and generate buying power in rural areas. They said the market also bolstered on speculation the RBI will resume lowering borrowing costs after holding interest rates today.

  • In the mid-quarter review of the monetary policy held today, the Reserve Bank of India (RBI) kept key policy rates and the Cash Reserve Ratio (CRR) unchanged. However, the guidance given was that 'a durable receding of inflation' will open up space for further easing of the monetary policy.

  • Meanwhile in Asia, bourses extended gains, with Japanese stocks staging a strong rebound from a weak start as many major exporters climbed on the yen's retreat.

  • Continue to have stock-specific approach in near term, advices Mitesh Thacker. Expect market to be buoyant for next few days. As long as we are not again trading below 5800, I would be trading with a slight positive bias and once this 5880 level has been taken out, he adds.

  • Market momentum seems weak for early stage rally, says Ashwani Gujral. If market continues to move in a very narrow fashion and banks do not really participate, beyond 12,000, then it becomes difficult for the market, he adds.

NIFTY 3-Month

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