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Market Report

Wednesday, 25-Sept-2013

NSE

  • After a better start at 19,978.49, the Sensex failed to sustain gains and touched a day's low of 19,658.74. However, some value-buying in blue-chips in the last one and half hours of trade helped Sensex recoup some losses to end at 19,856.24 -- still down 63.97 points, or -0.32 per cent.

  • On similar lines, the broad-based National Stock Exchange index Nifty managed to recover from their day's low but still lost 18.60 points, or -0.32 per cent, to close at 5,873.85, after shuttling between 5,910.55 and 5,811.10 intraday, as investors churned portfolios ahead of the expiry of monthly derivatives contracts tomorrow.

  • Mixed cues from overseas markets after US consumer confidence slumped in September to a four-month low, further influenced the market sentiment, brokers said. Global investor sentiments remained edgy on concerns over political dysfunction in US as lawmakers struggled to keep the government offices running ahead of next month's budget default. Asian stocks fell for a second day today.

  • The rupee gained ground today due to dollar sale by custodian banks. However, weakening concerns remain due to month-end dollar demand from importers.

  • According to analysts, the markets are likely to remain volatile on Thursday with slightly negative bias. With no major events ahead, the markets are likely to correct further and traders should use the opportunity to go short, they say.

NIFTY 3-Month

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