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Market Report

Thursday, 25-July-2013

NSE

  • Falling for the second straight day, the Sensex, which had lost 211.45 points in the previous session, fell further by 285.92 points, or -1.42 per cent to end below the crucial 20,000 level at 19,804.76 today, a level last seen on July 16. On similar lines, the wide-based National Stock Exchange index Nifty tumbled by 83 points, or -1.39 per cent to 5,907.50 today. The Nifty witnessed sharp selling pressure towards the end of session and closed above support of 5,900 on the last day of July series expiry, amid investors adopting a cautious stance on monthly derivatives expiry. It had lost 87.30 points yesterday.

  • Market continued its downward slide today partially fuelled by negative global cues as the Dow and S&P 500 had finished in negative territory on Wednesday. It was also expiry day for Indian derivatives. Weak global cues and concerns related to recent RBI liquidity tightening moves also weighed on sentiments as the 30-share index closed at its lowest levels in two weeks.

  • The Nikkei share average fell for a second day today in volatile trade, as investors were disappointed with blue-chip company results. European assets were flat in early trade today as investors trod cautiously before German and British data expected to add weight to signs the continent's economy is reviving.

  • The rupee today rose by 40 paise to 59.04/dollar on fresh dollar selling by banks and exporters, tracking a weakness in the US currency overseas. It had gone down to below 59 at one time today.

  • Nifty heading towards 5850 levels, says Mitesh Thacker. If we break 5850, then I am looking for an immediate test of around 5660 on the downside, he warns.

  • The market has failed on the upside, says Ashwani Gujral. There is more weakness in the market than would have seemed earlier, he adds.

NIFTY 3-Month

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