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Market Report

Wednesday, 28-Aug-2013


  • The Sensex jumped to 18,101.84 and finally settled the day at 17,996.15 -- up 28.07 points or +0.16 per cent. Yesterday, it had crashed 590 points to end below the 18,000 mark after a gap of one week. The NSE index Nifty finished 2.56 points, or -0.05 per cent lower at 5,285.00, after touching day's low of 5,118.85 supported by strength in IT, metal and pharma stocks despite the rupee hitting new all-time low.

  • Continuing its free-fall, the rupee today breached the 68-mark against the dollar for the first time in history and sank to 68.75 on heightened capital outflow concerns and worries that fiscal burden will increase due to food security programme. It later pared some losses to trade at 67.9 when stock markets closed, against yesterday's close of 66.24/USD. The previous all-time low was Rs 66.19 per dollar, a level the rupee had ended on yesterday. The currency has fallen more than 8% so far this week.

  • Surging oil prices on back of heightened geopolitical tension over possible US-led coalition attack on Syria also cast a shadow on the stock market today. However, a wave of value-buying led by institutional investors like LIC and mutual funds helped stock markets recover even as FIIs dumped bluechip stocks, brokers said. Stocks also recovered as investors covered their pending long positions created in the recent bear-run ahead of the monthly derivatives contract expiry on Thursday, they added.

  • We had a big volume surge in our market today, specially in the second half, when institutional players came in to salvage the situation. But even today FIIs were big sellers. See our 'Market Statistics' page.

  • IT stocks buck sluggish market trend, gain nearly 4% on rupee fall, says a report. Fall in value of the rupee against the US currency is broadly seen as positive for all export-focussed sectors, and specially the Indian IT space, says the report.

NIFTY 3-Month

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