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Market Report

Friday, 13-Sept-2013


  • After dropping nearly 216 points in the previous session, the Sensex lost another 49.12 points, or -0.25 per cent to close at 19,732.76 as Prime Minister's key advisor slashed the GDP growth forecast for this fiscal and said the current stance of monetary policy should be continued until stability in the rupee is achieved.

  • The 50-scrip NSE Nifty edged down by 0.10 points to close at 5,850.60 today, after moving between 5,884.30 and 5,822.90 in intraday.

  • Markets had a choppy session of trade today as investors exercised caution ahead of an action packed next week. Edgy global stocks ahead of US retail sales and consumer confidence data that may influence stimulus tapering also affected domestic markets.

  • Domestically, the Reserve Bank of India will unveil its mid-quarter policy due on September 20 under the governorship of newly appointed Raghuram Rajan. The rupee continued to trade weak amid dollar demand by importers. However, the rupee recovered from its so far intra-day low of Rs 64.10 due to dollar sale by state-run banks acting on behalf of the Reserve Bank of India.

  • Next week, US Federal Reserve will decide to cut its $85 billion in monthly bond purchases when it meets on September 17-18 while the Bank of England's minutes of the meeting will be released on September 18 that will give a hint of the health of UK's economy.

NIFTY 3-Month

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