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Market Report

Wednesday, 09-Oct-2013

NSE

  • After a lower start at 19,826.96, the Sensex recovered to hit the day's high of 20271.72 and finally closed higher by 265.65 points, or +1.33 per cent at 20,249.26 today. The gauge ended over 20,000 level for the first time since September 20.

  • On similar lines, the broad-based National Stock Exchange index Nifty regained the crucial 6,000 level and closed higher by 79.05 points, or +1.33 per cent, at 6,007.45 today, after touching a high of 6,013.70, on good buying in bluechips led by bank and interest-sensitive stocks, amid trade deficit narrowing to the lowest level in 30 months.

  • Brokers said the trading sentiment bolstered on reports of the September trade deficit narrowed to 30-month low and a mixed trend in the global markets. Exports grew 11.15 per cent in September and imports declined 18.1 per cent amid a sharp fall in inward shipments of gold and silver, taking the trade deficit to the lowest level in 30 months.

  • The key trigger for markets now will be Infosys quarterly results this Friday that will kick start the earnings season for July-September quarter. A heavily-bet Infosys could see large volume pick-up but very little price volatility, said analysts.

  • Meanwhile, global risk appetite was frail as US shutdown entered its second week, with an October 17 deadline for raising the borrowing limit approaching. Asian stocks traded mixed as US lawmakers wrangle over the debt limit and partial government shutdown. But European markets traded positively today.

  • The Rupee continued to trade sharply higher than the session low of 62.30 per USD earlier in the day. At 3:50PM, the partially convertible rupee was trading at 61.81 per dollar against the yesterday's close of 61.80 on the Interbank Foreign Exchange.

NIFTY 3-Month

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