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Market Report

Tuesday, 22-Oct-2013

NSE

  • Sensex, the 30-share index, which had climbed to three-year high in the previous session, fell by 28.92 points, or -0.14 per cent to close at 20,864.97 today. The gauge shuttled between 20,948.91 and 20,810.25 intra-day but prevailing caution forced investors from taking fresh long positions, traders said. The broad-based National Stock Exchange index Nifty declined 2.15 points, or -0.03 per cent, to end at 6,202.80 today, after moving between 6,220.10 and 6,181.80.

  • The BSE benchmark had climbed to its highest level since November 2010 yesterday as more companies posted earnings higher than market expectations. Sustained capital inflow also helped local stocks rise, experts said.

  • The global mood today, however, was tepid with the US Labor Department expected to announce the jobs data at 8:30 a.m. Washington time. The US Fed is expected to hold policy meetings on October 29-30 and December 17-18. Stocks mostly stayed weak in Asian and the opening was also lower in Europe.

  • The rupee continued to trade weak due to month-end dollar demand from importers.The partially convertible INR was trading at 61.68-a-dollar against its previous close of Rs 61.52 per dollar.

  • Considering the fact that FIIs have pumped in nearly Rs 7,000 crore in the Indian equity market since the beginning of the month (October) amid weak macro economic data and hawkish stance by the Reserve Bank of India (RBI) clearly signifies the fact that investors have become more aggressive. Market experts attributed the inflows to easing concerns over the US tapering as well as on speculation the US Federal Reserve would maintain its monetary stimulus until next year, which are leading global investors to increase their weight in emerging market equities such as India.

  • As of this writing, US stocks opened higher after weaker-than-expected job creation last month raised expectations that the Fed will continue to stimulate the economy.

NIFTY 3-Month

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