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Market Report

Wednesday, 27-Nov-2013

NSE

  • After a better start at 20,449, the Sensex fell to intra-day low of 20,348.06 in choppy trade. It ended at 20,420.26 today, down 4.76 points, or -0.02 per cent, compared to yesterday. The benchmark had lost 180.06 points on Tuesday. The 50-share NSE index Nifty eased by a mere 2 points, or -0.03 per cent, to close at 6,057.10 today, after moving between 6,074 and 6,030.30 intra-day as caution prevailed ahead of the expiry of November derivatives contracts and GDP data.

  • Brokers said the market remained volatile as investors were seen adjusting portfolios before the expiry of monthly derivative contracts tomorrow. Investors are also eyeing the GDP and fiscal deficit data slated for release on Friday.

  • The rupee was trading stronger at 62.2 levels against the US dollar. The American unit fell following a disappointing report on US consumer confidence in November.

  • Globally, markets eked out modest gains today amid bets that the Wall Street looks set to add to a string of milestones ahead of the Thanksgiving holiday. In Europe, the UK's FTSE, France's CAC and Germany's DAX were trading higher in early trades. Asian indices including Hong Kong's Hang Seng, Taiwan's TAIEX and China's Shanghai Composite closed in green. However, Nikkei of Japan ended down.

  • Markets likely to rally into 2014, but uncertain rupee bogs views, says the Economic Times. Even as some polls suggest that Sensex would hit the 22,000 mark by year end, experts bet that the rally is likely to continue into 2014, they report.

  • It is a matter of time before we break 6200, says Sandeep Wagle of APTART Technical Advisory Services. Now this could be a few weeks to a few months; but the moment we break 6200, we will have all-time high of 6350-6360 in the same breadth probably. And till that time, we will have to undergo this painful consolidation of 6000-6200, he says.

NIFTY 3-Month

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