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Market Report

Friday, 30-Aug-2013


  • The 30-share Sensex ended at 18,619.72 today, up 218.68 points or +1.19 per cent, extending gains to the third session in which the index has rose over 650 points. Today is the highest close for Sensex since August 14 (19,367.59). On similar lines, the Broad-based National Stock Exchange index Nifty rose by 62.75 points, or +1.16 per cent to end at 5,471.80 today, after moving between 5,360.20 and 5,493.30 in intraday.

  • Stock markets today rose for the third day today to end at over two-week high after Prime Minister Manmohan Singh assured that the rupee's decline will be addressed without capital controls or reversal of reforms. The currency markets also appeared to strengthen with the rupee gaining over 50 paise to trade at 66.05/06 levels against the US dollar compared to yesterday's close of 66.55.

  • While the stock markets were volatile as the Prime Minister began his speech in the Parliament shortly after noon, share prices surged on heavy buying in the last 90 minutes of trade with sectors like consumer durables, healthcare, banking, IT and FMCG seeing good enquiries.

  • Prime Minister Manmohan Singh also said the government will now have to undertake more difficult reforms, including reduction of subsidy and implementing GST, to put economy back on the path of stable, sustainable growth.

  • After market hours: Q1 GDP growth has come in slower than expected at 4.4% prompting industry to demand coordinated action by the government and the RBI to boost the economy. Meanwhile, the Centre's fiscal deficit ballooned to almost 63% of Budget Estimates for 2013-14 in just first four months of the year. Forex reserves has fallen to $277.72 bn.

NIFTY 3-Month

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