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Market Report

Monday, 22-July-2013

NSE

  • In see-saw trade, the 30-share Sensex surrendered hefty gains in last two hours to end 9.27 points, or +0.05 per cent, up at 20,159.12 today. 19 Sensex stocks gained and 11 dropped. The Sensex had gained 299 points in past 3 days. The broad-based National Stock Exchange index Nifty edged up by 2.60 points, or +0.04 per cent to close at 6,031.80 today even as L&T tanked by over 7 per cent after reporting a decline in profit.

  • Markets witnessed a quite volatile session today, ahead of the FO expiry this week on Thursday, said experts. The trend further weakened on over 12 per cent drop in L&T April-June quarter profit at Rs 756.03 crore. However, a rebound in banking sector on value-buying and firm trend in global markets helped the market end in green, they added.

  • World shares were testing a five-year high today as a strengthening of Japanese Prime Minister Shinzo Abe's grip on power in weekend elections were seen as a boost for his radical stimulus policies. European stocks saw a steady start to the week, dipping 0.1 percent.

  • Slightly bearish on market tomorrow, says Mitesh Thacker. I am still maintaining that view of Nifty kind of moving up in a contracting channel but the fact that lack of strength at higher levels does bother me, he adds.

  • Difficult to sustain 6000 at Nifty in next few days, says Ashwani Gujral. The Nifty is losing momentum on the upside both yesterday and today for different reasons it was not able to sustain at higher levels, he adds.

NIFTY 3-Month

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