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Market Report

Tuesday, 08-Oct-2013

NSE

  • After a higher start at 20,094.21, the Sensex touched day's high of 20,094.21 before closing at 19,983.61 -- up 88.51 points, or +0.44 per cent. This is the highest closing level since September 20 (20,263.71).

  • On similar lines, the broad-based National Stock Exchange index Nifty closed higher by 22.25 points, or +0.38 per cent, at 5,928.40 today, after touching a high of 5,981.70 in intraday on good buying in rate-sensitive sectors like realty, banking and consumer durables after the RBI eased the cash availability situation ahead of the festive season.

  • Yesterday, the RBI announced it is reducing the marginal standing facility rate by a further 50 basis points to 9.0 per cent with immediate effect. Brokers said a firming trend in the Asian region further supported the uptrend. Meanwhile, the rupee was trading almost flat at 61.89 versus the US dollar.

  • Rupee stabilising; RBI may hike repo rate, cut MSF further, say certain Brokerages. HSBC is of the view that the RBI is becoming more comfortable about the currency and a bit more concerned about domestic liquidity conditions.

  • Q2 Results may surprise markets on the positive, Nifty seen attempting 6,000 say Analysts. They see Nifty in a range of 200 points with stock-specific action this earnings season.

NIFTY 3-Month

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