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Market Report

Tuesday, 30-July-2013

NSE

  • The BSE benchmark Sensex, after a better start, tumbled by 244.94 poins, or -1.25 per cent to end at a nearly three-week low of 19,348.34 today. The gauge has now lost over 950 points in five days. Similarly, the broad-based National Stock Exchange index Nifty dipped below of crucial 5,800 level to end with a loss of 76.60 points, or -1.31 per cent, to close at 5,755.05 today.

  • Markets today extended losses for the fifth straight session, on heavy selling in stocks after RBI lowered its GDP forecast and kept interest rates unchanged, amid rupee again falling below 60-level to a dollar after around three weeks and was last trading at 60.36, down -1.59 per cent.

  • The buying interest seen just after the RBI policy turned out to be a rather trap zone because markets dived down for rest of the day. The selling was broad based with Oil & Gas firms getting badly impacted due to more than +1.5 per cent rise in USD/INR. RBI did not announce any major steps to control the Rupee.

  • In Asian trading, Japan's Nikkei bounced 1.5% as the yen eased though stocks elsewhere in the region finished flat as China's central bank's first injection of funds into money markets since February was balanced by some mixed data. The European markets too were trading higher with all the major indices FTSE, CAC and DAX trading up 0.02-2%.

  • Nifty heading towards 5700-5670 levels, says Mitesh Thacker. I was hoping that to happen somewhere during the second week of August but we might see the levels of 5670-5700 much sooner, says Thacker.

NIFTY 3-Month

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