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Market Report

Friday, 18-Oct-2013

NSE

  • Sensex, the benchmark BSE index surged +2.29 percent, or 467.38 points, to end at 20,882.89 today, marking its highest close since November 2010. The index rose +1.7 percent for the week. Nifty, the broader NSE index rose +2.37 percent, or 143.50 points, to end at 6,189.35 today, marking its biggest single-day percentage gain in a month. It rose +1.5 percent for the week, notching up a third consecutive weekly gain. The Nifty touched intraday high of 6,201.45 and a low of 6,070.90 today. The index shut shop near 2013 high of 6,187.3 made on May 17, 2013.

  • It was on January 8, 2008, that the Sensex crossed the 21,000 mark for the first time. It hit 21,078 in intraday trade, but closed below 21K at 20,873. Then on November 5, 2010, the Sensex closed above 21K for the first time at 21,004.96, which is its highest closing level ever hit.

  • Foreign institutional investors (FIIs) bought heavily today also. FII total purchase till yesterday had been a huge 78.47 billion rupees ($1.28 billion) regulatory and exchange data showed, the tenth consecutive session of purchases. See our 'Market Statistics' page.

  • The Rupee has regained most of the lost ground. Today, the Rupee pared initial gains towards the end of the day and was trading at Rs. 61.19-a-dollar compared to its previous close of Rs 61.22 per dollar. Sentiment was also bolstered after Life insurance Corp of India Chairman S.K. Roy told a private television channel the state-run insurer will invest Rs 40,000 crore ($6.53 billion) in domestic equities in fiscal 2014.

  • Gains also tracked global shares which rose to a five-year high on expectations the Federal Reserve will keep its stimulus in place for longer following the confidence-sapping U.S. fiscal impasse. Boosting the sentiments were good numbers coming from China. Its GDP rose 7.8% in the third quarter year on year. With almost all the negatives taken care of, except for the elections of course, the markets now look set for new highs.

  • You can't argue with liquidity, the flow of money seems to be pushing concerns such as weak macro, RBI and earnings on the back burner, said Deven Choksey.

NIFTY 3-Month

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