IntradayTrade dot Net dot IN
Market Report

Monday, 21-Oct-2013


  • After moving between 20,970.92 and 20,768.99 during the day, Sensex, the 30-share BSE index ended higher by 11 points or +0.05 per cent at 20,893.89 today. The broader National Stock Exchange index Nifty also rose by 15.60 points, or +0.25 per cent, to close at 6,204.95 today.

  • It was on January 8, 2008, that the index 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, Sensex closed above 21K for the first time at 21,004.96, which is its highest closing level ever hit. In a choppy trade, the Sensex today held near its all-time high of 21,004, adding 11 more points today.

  • Brokers said the trading sentiment was supported by a firm trend in capital goods sector stocks led by Larsen and Toubro, after the company maintained its revenue guidance for this fiscal year. Market was also boosted by continuing foreign capital fund flows, they added. They said a better trend in the Asian region and higher opening in Europe amid speculation the Federal Reserve will delay stimulus cuts, further supported the uptrend.

  • The rupee continued to trade weak due to dollar demand by importers. At 3:50 pm the rupee was trading at Rs 61.44 compared with previous close of Rs 61.27 per dollar.

  • Asian shares and most of Europe firmed up today tracking bullish trend on Wall Street, on expectations that the US Fed would postpone its monetary stimulus measures following the recent government shutdown.

  • Experts raise red flag over market rally, advise cautious trading. Markets are moving ahead of domestic fundamentals, Nifty faces strong resistance at 6,200-6,250 levels, say analysts. Another point to consider: If Nifty has to move to higher levels, banks are the key to such a rally, considering the fact that they form nearly 20% weightage in the index.

NIFTY 3-Month

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