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Market Report

Friday, 28-June-2013

NSE

  • Sensex, the 30-share index, started the day on a firm note and continued rising further and ended the day 519.86 points, or +2.75 per cent higher at 19,395.81 today. This is Sensex's biggest single day rise in 22 months, since 567.5 on August 29, 2011 and the first time in 10 days that it closed above the 19,000 mark. Investor wealth went up by Rs 1.5 lakh crore. Similarly, the wide-based National Stock Exchange index Nifty gained 159.85 points, or 2.81 per cent, to close at 5,842.20 today after the steep hike in natural gas price led to a buying spree in energy shares and shortcovering in financials. A strengthening rupee also aided sentiment.

  • The Indian government today approved near doubling of natural gas prices, a move seen positive for upstream companies. A recovery move in Indian rupee against the dollar, returning from all-time low of 60.76 to 59.19 today further brought confidence among foreign investors, said brokers. FIIs have today turned net buyers after a long break. See our 'Market Statistics' page.

  • In the global front, Japan's Nikkei share average rose +3.5% to its highest close this month. Modest gains in other Asian markets also lifted the mood, helped by optimism that China on that the US Federal Reserve will not soon rein in its stimulus measures and by encouraging Japanese economic data.

  • Nifty may touch 5880-5900 on the upside, says Sandeep Wagle. I have been looking at 5900 which may act as some kind of resistance in the next few days, and the range for the Nifty will be somewhere around 5700-5680 on the downside and 5880 and 5900 on the upside. I really do not see that crack below 5500 coming in and that has made a meaningful bottom, he says.

  • Nifty looks headed towards 5970, says Mitesh Thacker. We have nearly met the second target of 5850-5880. Lot of stocks and indices along with the Bank Nifty have reversed on the intraday levels, he adds.

  • Sensex circuit breaker set at 1,950 pts for July-September quarter, says BSE. This means, a gain or loss of 1,950 points in any Sensex session will bring a nationwide trading halt in equities as well as derivatives segments in the ensuing July-September quarter.

NIFTY 3-Month

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