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Market Report

Wednesday, 20-Nov-2013

NSE

  • The Sensex, which had gained nearly 696.42 points in the previous three sessions, dropped by 255.69 points, or -1.22 per cent, to 20,635.13 today after touching a low of 20,579.94 in intra-day. On similar lines, the broad-based National Stock Exchange index Nifty tumbled by 80.45 points, or 1.30 per cent, to end at 6,122.90 today. It intra-day touched a low of 6,106.95.

  • Markets slipped badly today, its first drop in four days, hurt by a late sell-off in banking, consumer durables and auto shares, amid cautious global markets. Experts attributed the weakness in Asian markets to the Organization for Economic Cooperation and Development (OECD) cutting its forecast for world growth this year to 2.7 percent and 3.6 percent for next.

  • The Indian rupee also depericiated by around 25 paise to 62.62/63 per US dollar. The Rupee weakened today due to dollar buying by banks. Subdued equity markets also impacted the rupee. The rupee was trading at Rs 62.57 compared with previous close of Rs 62.38 per dollar.

  • Foreign Institutional Investors turned net sellers in the derivatives segment on Tuesday with net sales of Rs 668 crore, of which Rs 584 crore was in the options segment. Since the start of the November F&O series Nifty futures has witnessed considerable liquidation of long positions, as future OI reduced from 2.47 crore to 2.18 crore along with a fall in price from 6358 to 6008 levels. FIIs were active sellers in the index future to the tune of Rs 3,270 crore along with a fall in OI from 5.10 lakh to 4.69 lakh, indicating some profit-booking since the start of the series.

  • Asian markets ended mixed. Japan's Nikkei ended 0.3% lower following a stronger yen and profit taking in financials after recent gains. European shares were trading weak as investors turned cautious ahead of the US economic data and minutes of the US Fed meeting held in October.

  • Nifty has major support at 6000, say experts. Till Nifty futures sustain above 6135, buying may continue towards 6350-6400, where sectors like auto, metals and banking may outperform, they say.

NIFTY 3-Month

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