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Market Report

Thursday, 17-Oct-2013

NSE

  • Sensex, the benchmark BSE index fell -0.64 percent, or 132.11 points, to end at 20,415.51 for a second day of falls after climbing to its highest intraday level since November 2010 on Tuesday. Nifty, the broader NSE index fell -0.71 percent, or 43.20 points, to end at 6,045.85 today as software services exporters such as Tata Consultancy Services Ltd slumped despite its quarterly results beating estimates as investors took profits after strong recent gains.

  • After starting on a positive note and remaining rangebound for the better part of day, key indices lost ground tracking the weakness in European stocks. Amid lack of any major triggers back home, weakness in US index futures also played on the sentiment leading to the sell-off. However, FII investment into equities continue to be very large this month, specially in the last 2 sessions inspite of the fall in the indexes. See our 'Market Statistics' page.

  • As for the Rupee, at 4:01pm the partially convertible was trading at Rs 61.40 against the dollar in after-noon trades. INR continued to strengthen due to dollar sale by exporters. However, month-end dollar demand is approaching which could put the rupee under pressure going ahead.

  • Traders said the July-September results had already been factored into share prices, with TCS hitting a record high on Tuesday and investors already looking ahead at earnings from other sectors that are expected to be weaker.

  • Meanwhile, market relief at an 11th-hour US budget deal gave way to worries over the economic impact of the 16-day government shutdown and prospects of a re-run early next year.

  • Globally, Asian markets finished mixed. European markets are trading lower with stocks in France off the most.

NIFTY 3-Month

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