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Market Report

Wednesday, 19-June-2013

NSE

  • Sensex, which had lost 102.59 points in yesterday's trade, recovered by 22.42 points, or +0.12 per cent, to close at 19,245.70 points today. It had moved between 19,100.13 and 19,274.26 due to volatile movements in index-heavy stocks. On similar lines, the wide-based NSE index Nifty ended 8.65 points, or +0.15 per cent higher at 5,822.25 today. It had dipped below 5,800 points level to touch session's low of 5,777.90 in early trade.

  • A higher opening in the European market ahead of the US Federal Reserve policy outcome tonight also influenced the trading sentiments to some extent here, brokers said. FII selling in the bonds segment has led to Rupee weakening to record low levels above 58 level. This along with profit-booking due to lack of any positive triggers, is making the market face resistance at higher levels, said experts.

  • However, the rupee rose slightly today, yet remained within close of its record low hit last week, as outflows from equity markets added to concerns about the funding of the current account deficit ahead of the US Federal Reserve's decision on its stimulus programme. Such concerns have compounded because of the likelihood of the Fed tapering its bond purchases, which could trigger an outflow from emerging markets. Foreign fund selling in Indian equities have picked up pace to add to the huge sell-off in debt markets. See our 'Market Statistics' page.

  • Asian stocks ended mixed amid looming uncertainty over the Federal Reserve's bond-buying plans. The European markets traded lower today after a good opening.

  • The US Federal Open Market Committee will end its two-day policy meeting today, with the outcome expected at around mid-night IST.

  • Markets will hold around 5750 and 5950 for now, says Sandeep Wagle. I would want Nifty to close above 5900 and stay above that and only then one can talk of a move towards 6100, he adds.

  • The market is not looking too strong right now, says Ashwani Gujral. You buy above 5860 on a closing above 5860 and possibly sell below 5700 other than that in this 150 point band I do not think it is worth while to go and trade, he says.

NIFTY 3-Month

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