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Market Report

Thursday, 21-Nov-2013

NSE

  • The Sensex opened lower and declined steadily to close at 20,229.05 today, a drop of 406.08 points or -1.97 per cent. It was the biggest fall for the index since September 3, when the measure lost 652 points or -3.45 per cent. The CNX Nifty index on the National Stock Exchange closed at 5,999.05 today, losing 123.85 points or -2.02 per cent as most European and Asian stocks declined on fresh concerns the US Federal Reserve will ease its stimulus programme as the economy improves.

  • The Nifty found some support around its crucial level of 6,000 but closed lower. It touched a high of 6,097.35 and a low of 5,985.40 in trade today to register its worst percentage loss since September 3.

  • Overseas investment in stocks declined to net Rs 80.4 crore yesterday from Rs 1,014.61 crore a day earlier. Today they were net sellers of Rs 59.80 crore, according to provisional stock exchange data. The rupee dropped for the second straight day against the dollar and traded at 62.97 today.

  • Stocks in Asia, barring Japan, declined on tapering concerns and after an index of Chinese manufacturing fell. European markets too are lower today with stocks in France off the most.

  • Experts are of the view that market participants are reading far too much into the Fed minutes as they offer nothing new and merely talk of an impending taper, which is bound to happen sooner or later.

NIFTY 3-Month

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