IntradayTrade dot Net dot IN
Market Report

Wednesday, 13-Nov-2013


  • Sensex, the 30-share bluechip index fell by 87.51 points, or -0.43 per cent, to close at 20,194.40 today -- its lowest level since October 8. In volatile trade, the gauge touched the day's high of 20,365.59 and a low of 20,161.64. The Sensex has now lost 1,044.96 points in seven sessions, its longest losing streak since the eight days ended August 2 when it cracked by 1,138.11 points.

  • The broad-based National Stock Exchange index Nifty ended below the crucial 6,000-level by losing 28.45 points, or -0.47 per cent to close at 5,989.60 today. The benchmark slipped today extending its losses to the seventh session in a row, hit by fears of interest rate hikes by the RBI to control rising inflation and fresh talk of US Fed looking at tapering its stimulus.

  • A weak show by Asian stocks and lower opening in Europe after reports said Fed officials gave mixed signals on Tuesday amid speculation that the US central bank would start reducing stimulus next month, further influenced the domestic trend.

  • Fall in Indian shares came despite strength in rupee that was trading about 21 paise up at 63.5 levels versus dollar. It had till yesterday dropped for five straight days.

  • After markets closed yesterday, industrial output showed subdued growth while retail inflation continued to persist at discomforting double-digit levels, raising the possibility of RBI hiking repo rate next month, market analysts said. Interest-rate linked sectors were among major losers.

  • There is no question that the market is in a downtrend, says Ashwani Gujral. But the momentum is lacking and it is lacking because the urgency is not there to get out of the bear market. We expected a pullback from 6080, did not happen. We expected run from 6000, did not happen. So maybe we could pause here for a few days before further fall starts. There should not be any question that the market is heading down, he adds.

NIFTY 3-Month

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