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Market Report

Monday, 18-Nov-2013

NSE

  • After gaining 205 points in the previous session, the Sensex shot up by 451.32 points, or +2.21 per cent, to end at nearly two-week high of 20,850.74 today. Additionally, this was the gauge's biggest single-day gain in terms of points since October 18 when it rose by 467.38 points. Similarly, the broad-based National Stock Exchange index Nifty shot up by 132.85 points, or +2.19 per cent, to close at 6,189.00 today on the back of optimism over Chinese reforms and continued hopes of US Fed sticking to its economic stimulus.

  • In step with local stocks, the rupee also jumped by over 60 paise to trade near 62.5 levels against the US dollar. The rupee recovered as the RBI plans to inject Rs 8,000 crore into the financial system via open market operations today. Brokers said investors shrugged off sentiments from foreign brokerage outfit UBS downgrading Indian equities to "neutral" from "overweight". Massive buying was seen in rate-sensitive capital goods, banking and realty shares.

  • Asian markets attracted solid buying in a delayed reaction to China last week unveiling big-bang economic and social reforms in nearly three decades. European markets were trading 0.3-0.5 per cent higher in early trade tracking gains in US that surged to a new record on Friday after Fed chief nominee Janet Yellen bolstered expectations of keeping the flow of easy money intact.

  • As per today's closing levels the Sensex regained nearly 650 points of the 1000 points loss last week while the Nifty recovered nearly 200 points of the 330 point fall last week.

  • Meanwhile, US Stock market indexes are hitting new milestones on Wall Street right now. The Dow Jones industrial average crossed 16,000 points for the first time early Monday and the Standard & Poor's 500 index has crossed 1,800 points.

NIFTY 3-Month

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