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Market Report

Tuesday, 03-Dec-2013

NSE

  • The S&P BSE Sensex resumed lower than yesterday's close and hovered in a range of 20,817.75 to 20,927.05. It ended at 20,854.92 today, a loss of 43.09 points or -0.21 per cent. Over the previous three sessions, the index had added 477.75 points, or 2.34 per cent, to an almost one-month high.

  • The 50-share CNX Nifty on the National Stock Exchange slipped 16 points, or -0.26 per cent, to end at 6,201.85 after a volatile session today as positive cues from current account figures were countered by weak global markets and profit booking.

  • European indices opened lower and also weakened the market sentiment. Asian indices were too seeing profit booking. Asian stock markets ended mostly lower after stronger US manufacturing data revived speculation the US Federal Reserve may pare its stimulus programme sooner than anticipated.

  • The Reserve Bank of India said yesterday India's current account deficit narrowed to USD 5.2 billion, or 1.2 per cent of GDP, in the quarter ended September 30, from USD 21 billion, or 5 per cent of GDP, a year earlier. The reduction, based on preliminary figures, was primarily on account of a fall in the trade deficit as merchandise exports picked up and imports, including inward shipments of gold, moderated.

  • The rupee was trading unchanged at Rs 62.32 compared to previous close of Rs 62.32 per dollar. According to currency dealers, there is dollar buying from oil marketing companies. However, dollar sale by state-run banks on behalf of Reserve Bank of India helped the rupee recover.

  • Eye on elections: 'Clear majority' may take Sensex to 22,000 in just a day, say observers. In the last two general elections, that is 2009 and 2004, the stock market has seen gap moves of 18% up and 19% down, respectively, they point out.

  • Nifty may test 6500 in December expiry, say experts. On the Nifty options front, an upside shift of call OI has been seen from 6300 call to 6500 Call, hinting at a bullish undertone in the market, the experts point out.

NIFTY 3-Month

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