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Market Report

Tuesday, 29-Oct-2013


  • The BSE Sensex, which had lost 325 points in the past five sessions, shot up by 358.73 points, or +1.74 per cent to close at 20,929.01 today after RBI Governor Raghuram Rajan announced the second quarter review of monetary policy 2013-14. The 50-scrip National Stock Exchange index Nifty jumped up by 119.80 points, or +1.96 per cent to close at 6,220.90 today.

  • Both the Sensex and the Nifty registered their highest closing in the calendar year 2013 so far. Also, it was the seventh highest turnover for the markets. Snapping its five-day losing run, the 30-share Sensex closed in on the 21,000 mark on the back of massive buying in rate-sensitive banking, realty, auto and consumer durable shares. Investor wealth zoomed by around Rs 1 lakh crore on the BSE as overall 1,294 stocks closed with gains.

  • Market participants viewed the RBI's move to increase the liquidity provided through term repos of 7-day and 14-day tenor from 0.25 per cent of Net Demand and Time Liability (NDTL) of banking system to 0.5 per cent as a big positive. The central bank expectedly raised repo rate by 25 bps to 7.75 per cent while continuing to roll back MSF rate by 25 bps to 8.75 per cent on account of normalised forex situation.

  • The rupee was trading stable at Rs 61.52 compared with previous close of Rs 61.53 per dollar after an in-line monetary policy review.

  • Brokers said a better trend in the Asian region and higher opening in Europe further supported the sentiment. In Asia, the Sensex and the Nifty returned the best daily gains.

NIFTY 3-Month

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