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Market Report

Tuesday, 13-Aug-2013


  • The 30-share Sensex resumed lower and dipped to 18,864.81, triggered by weak June industrial output data released after trading hours yesterday. Helped by value-buying, the index recovered to settle at 19,229.84 today, a gain of 282.86 points, or +1.49 per cent. On July 12, the Sensex had risen by 282.41 points.

  • The 50-share Nifty on the National Stock Exchange firmed up by 86.90 points, or +1.55 per cent, to a one-week high of 5,699.30 on optimism about the rupee after the government took more steps to curb the burgeoning current account deficit.

  • This economic slowdown, along with easing inflation, is triggering hopes for rate cuts in near term. Rate-sensitive stocks were surging high in today's trade, said experts. The rupee recovered to 61.17 against the dollar, compared with yesterday's close of 61.27.

  • The government today increased import duty on gold, silver and platinum to 10% with a view to arrest the declining value of rupee and contain the fiscal deficit to 3.7% of the GDP.

  • In the global arena, Asian stock markets ended higher, led by Japanese shares. The yen eased following a report that Prime Minister Shinzo Abe is considering a corporate tax cut as a way to offset the impact of a planned two-stage increase in sales tax. European markets were higher in early trade for the fourth straight day, with investors awaiting the latest report on German business confidence and US retail sales later in the day.

  • Sensex not the real picture, India's growth story scripted by small entrepreneurs, say experts. The mid-cap and small-cap indices, the barometer of the real economy, have dived in the past six months, signalling that all's not well with India Inc., they warn.

NIFTY 3-Month

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