IntradayTrade dot Net dot IN
Market Report

Friday, 25-Oct-2013


  • After losing 169 points in the previous three sessions, the Sensex eased further by 41.91 points, or -0.20 per cent to close at over one-week low of 20,683.52 today. It shuttled between 20,782.16 and 20,622.55 intra-day and slid for the fourth straight day. On similar lines, the 50-share National Stock Exchange index Nifty edged down by 19.45 points, or -0.32 per cent, to close at 6,144.90 today on profit-taking in FMCG, metal and auto stocks, logging its first weekly loss in four. It had touched a high of 6,174.75 intra-day.

  • Even though the 30-share bluechip Sensex briefly climbed to three-year high by surpassing a crucial 21,000 level yesterday, it closed 199.37 points down this week -- the first loss in four weeks. Last week, it had gained 354.30 points. Investors appeared cautious ahead of RBI monetary policy review and monthly expiry of equity derivative contracts next week, amid weak trend in global markets.

  • The benchmark indices have been consolidating in a narrow range in the past few trading sessions. But this is more of profit-booking by traders, while the long-term trend remains intact. Brokers said higher inflation data dimmed any chance of a cut in interest rate and the street was expecting a 0.25 per cent hike in repo rate.

  • The rupee continued to trade weak due to month-end dollar demand from importers. At 1600hrs, the rupee was trading at Rs 61.54 compared with previous close of Rs 61.47 per dollar. As month-end dollar demands from importers continue, the rupee is soon expected to touch the Rs 62 per dollar mark next week, said currency dealers.

  • Globally, major Asian markets ended down. European indices were also trending down in early trade.

  • This is the second day when the market has corrected from the highs and stayed there. It is too early to say whether we have completely reversed, said Ashwani Gujral. As long as we can hold on to 6100-6150 on the Nifty, this could be a mild correction which will resolve on the upside, he adds.

NIFTY 3-Month

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