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Market Report

Monday, 11-Nov-2013


  • The Sensex opened lower and hovered in a range of 20,453.15 to 20,672.53 before ending at 20,490.96 today, a fall of 175.19 points or -0.85 per cent. The index is at the lowest level since ending at 20,415.51 on October 17. It has plunged 748.40 points in the five sessions since the closing peak of 21,239.36 during the special muhurat session on November 3.

  • The 50-share CNX Nifty dropped 61.95 points, or -1.01 per cent, to close at 6,078.80 today amid increasing fears the US Federal Reserve would start tapering its stimulus programme after better-than-expected jobs data. The index declined for the fifth straight day even as data showing exports in October rose at the fastest pace in two years. India's exports in October rose 13.47 per cent to USD 27.27 billion from a year earlier while imports dipped 14.5 per cent, helping to narrow the trade deficit.

  • Brokers said the market was under pressure as the rupee fell to two-month low of 63.44 against the dollar. A depreciating rupee could slow capital inflows and deter the Reserve Bank from easing liquidity curbs further.

  • A good enough trade data, better-than-expected core sector growth, not-so-but-stellar second quarter numbers, and of course a strong monsoon - the signs are just about okay for a bounce back, say experts. Elections and QE tapering are the two main factors that will determine the course from here, say experts. They now see Sensex at 22,000-odd levels by year-end.

NIFTY 3-Month

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