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Market Report

Monday, 25-Nov-2013


  • The Sensex, which had shed 673.43 points in the previous three sessions, shot up by 387.69 poins, or +1.92 per cent to end at 20,605.08 today -- near the day's highs. 27 of the 30 index constituents closed up. On similar lines, the broad-based National Stock Exchange index Nifty spurted by 119.90 points, or plus two per cent, to close at 6,115.35 today on the back of lower crude oil prices after a historic deal between world powers and Iran on its controversial nuclear programme.

  • On Sunday, US along with five other global powers, reached a landmark agreement with Iran on curbing some of its nuclear programmes in exchange for a limited relief on sanctions.

  • Brokers said after the recent fall in markets, the Iran-deal news was lapped up by bullish investors and markets moved up on strong volumes. Fears of US stimulus tapering were also shrugged off, they added. Indian stocks emerged as the star performer in Asian and European markets as falling oil prices eased inflation concerns. Reacting to the historic deal, Brent crude fell by more than 2 per cent in early Asian trade to USD 108.5 levels.

  • The rupee too firmed up against dollar and was seen trading near 62.5 level today compared with its Friday's close of Rs 62.83 on dollar sale by exporters and banks. Further, hopes of lower dollar demand from oil marketing companies as global crude oil prices eased, also boosted sentiment.

  • Stock markets may remain volatile this week as investors churn portfolios ahead of the monthly derivatives contract expiry on Thursday and announcement of second quarter economic growth data on Friday, experts said. In the absence of any major trigger, domestic markets are also expected to take cues from international developments such as hints on the timing of US stimulus tapering, they said, adding that foreign fund flows would also be closely watched.

NIFTY 3-Month

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