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Market Report

Thursday, 04-July-2013

NSE

  • Sensex, the Bombay Stock Exchange 30-share barometer, resumed higher and remained in positive terrain throughout the day to settle at 19,410.84 today, a rise of 233.08 points or +1.22 per cent. In past 2 days, Sensex had plunged by almost 400 points due to capital outflows and a weak rupee. The local currency was last trading at 60.16 against Wednesday's close of 60.21.

  • The broader 50-issue CNX Nifty of the NSE, after briefly slipping below 5,800, recovered and gained momentum in the last hour of trade and closed near day's high after rising by 66.05 points, or +1.14 per cent, to end at 5,836.95 today amid firm global cues ahead of ECB's interest rate meeting. It touched a high of 5,848.20 and a low of 5,786.05 in trade today.

  • The rupee lost some ground against the dollar amid dollar purchase by banks. The currency is currently trading at Rs 60.24 compared with previous close of Rs 60.22. It touched a high of Rs 59.90 intra-day per dollar.

  • Global risk appetite was firm on hopes of growth recovery in US ahead of US non-farm payrolls report and European Central Bank meet to decide on the monetary policy. Asian stocks traded cautious ahead of the key events. European shares snapped a two-day decline and the euro weakened before the region's central banks, European Central Bank (ECB) and Bank of England (BoE), sets interest rates. US equity markets are shut today on Independence Day.

  • Markets continue to be stock-specific, says Mitesh Thacker. We had a gap down between 5880-5820 levels and just after the expiry, we had a gap up between 5700-5750 levels. Buy on downside till Nifty trades above 5810-5820, Thacker said.

  • Nifty may not get past 6000 levels easily this time, says Ashwani Gujral. You could may have another 40-50 points on the Nifty, but half the market is still on the downside, says Gujral.

NIFTY 3-Month

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