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Market Report

Wednesday, 18-Sept-2013

NSE

  • After gaining 71 points in last two sessions, the Sensex rose by 158.13 points, or +0.80 per cent to end at 19,962.16 today. The broad-based National Stock Exchange index Nifty rose by 49.25 points, or +0.84 per cent to close at 5,899.45 today, on the back of banking, FMCG, oil&gas and healthcare shares ahead of the US Federal Reserve's decision on reducing its monthly bond purchases.

  • Markets ended on a strong note after an extremely volatile trading session today. Domestically, the Reserve Bank of India's monetary policy this Friday -- the first under the new governor, Raghuram Rajan -- will be very crucial amid expectations that the central bank may hold rates steady.

  • Globally, Asian stocks rose, with the regional benchmark index trading near a four-month high. European shares also traded higher. Our markets also got a boost from falling crude oil as Brent slipped towards USD 108 a barrel mark. Meanwhile, the Indian rupee traded near 63.2 levels when the domestic stock market closed.

  • Market has factored in tapering by the US Federal Reserve to the tune of $10 billion, said Ashu Madan of Religare Securities. So any level up to $10 billion should not come in as a surprise for the markets, he adds.

  • Tapering over $20 billion may result in sharp correction in stock market, say Experts. As global liquidity adjusts itself, the stock market could see a sharp correction, they add. The outcome of the two-day Fed meeting will be known after 2pm EST in the US (about 11:30 pm Indian time).

NIFTY 3-Month

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