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Market Report

Friday, 06-Sept-2013

NSE

  • After surging 739 points in the last two sessions, the Sensex rose by 290.30 points, or +1.53 per cent, to 19,270.06 as 20 stocks in the Sensex stocks closed with gains. This is the second week of gains for the 30-share index which jumped by 650.28 points or +3.49 per cent. The broad-based National Stock Exchange index today rose by 87.45 points, or +1.56 per cent to close at 5,680.40 today on the back of FII buying in banking, capital goods and refinery shares amid recovery in the rupee against dollar.

  • The Sensex rallied from 18,234.66 levels, observed on September 3, to 19,270.06 on September 6 (today), supported by buying in banks, realty and capital goods sectors. The Sensex is trading well above its psychological level of 19,000; gaining 1035 points in the last three trading sessions of the week ended September 6.

  • Brokers said continuing recovery in the rupee versus dollar also boosted equity markets. Rupee was trading at 65.2 levels compared to yesterday's close of 66.01.

  • Analysts say markets are likely to remain volatile in the month of September given global headwinds. Traders will keenly watch the US Federal Reserve's FOMC meet due later in the month, concerns over Syria and Raghuram Rajan's first monetary policy review. The Reserve Bank of India's new governor, Raghuram Rajan will hold its first monetary policy meet on September 20, 2013 as against the original date on September 18. This policy review will be in focus because of the US Federal Reserve's policy meeting during the same period which is expected to determine the direction for markets and capital flows.

  • Globally, Asian stocks ended cautiously higher as investors await the monthly American jobs report. But Japanese shares declined, snapping a four-day winning streak, hit by profit-taking in the real estate and construction sectors as investors awaited a decision on the country's Olympic bid. European stocks were little changed, with benchmark gauges heading for a weekly gain, as investors awaited a report on US payrolls to gauge the outlook for US Federal Reserve stimulus.

  • Our market will remain closed on Monday for 'Ganesh Chaturthi' and reopen for regular trading on Tuesday, 10-Sept-2013.

NIFTY 3-Month

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