IntradayTrade dot Net dot IN
Market Report

Tuesday, 03-Sept-2013


  • After gaining 918 points in last four sessions, Sensex plunged by 651.47 points, or -3.45 per cent to 18,234.66 today, after hitting day's low of 18,166.17. Today's fall was the biggest after August 16, when it lost 769 points. On similar lines, the NSE index Nifty tumbled by 209.30 points, or -3.77 per cent to 5,341.45 today, after touching a low of 5,323.75 intraday.

  • The Sensex recorded its biggest fall in over a fortnight, on massive selling as the rupee breached 68-mark versus the US dollar on fresh signs of trouble in Syria. Reports quoting Russian news agencies said the country's missile early warning system had detected the launch of two missiles from the central part of the Mediterranean Sea fired towards the Sea's eastern coastline, amid growing fears of Western military action in Syria.

  • The rupee slid a little closer today to a record low struck against the dollar last week, as investors remained doubtful whether the government would act decisively to restore confidence in the economy. The rupee had opened at 66.30 to a dollar and fell nearly 3% to 68.10 in the intra-day deals. Crude oil prices also strengthened to $115-a-barrel mark.

  • Domestic markets were also weighed down after Goldman Sachs lowered India's growth forecast for the current fiscal to 4 per cent from 6 per cent earlier and is expecting the rupee to touch 72 against the US dollar in next six months. The bloodbath in stock markets saw investors becoming poorer by a whopping Rs 1.63 lakh crore as nearly 1,500 stocks on the BSE platform ended the trade as losers.

  • European markets like the UK's FTSE, France's CAC and Germany's DAX were down while Asian indices like Nikkei, Hang Seng, KOSPI and Shanghai Composite were up. Strait Times, however, closed down.

  • 170 stocks hit 52-week low amid market crash, reports ETNow. Hit by massive sell-off in the stock market, as many as 170 stocks touched their one-year low on the BSE today, with Sensex plummeting over 650 points, said a report.

  • Hold shorts as Nifty is seen retesting 5,200 on weak rupee, Syria concerns, say Analysts. The market has resumed its downward trend after a technical upward correction with the benchmarks plunging over 3 per cent in one day, they say.

  • An important event for me is the Fed policy which is due on 17th and 18th on tapering, says Ashwini Gujral. There are chances that we will enter that policy fairly weak. Post policy, there should be some rally because that event is continuously getting priced in, he adds.

NIFTY 3-Month

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